X0303 5 2008-12-31 0 1 0000907562 DYAX CORP DYAX 0001091925 KEMPNER THOMAS L C/O DYAX CORP. 300 TECHNOLOGY SQUARE CAMBRIDGE MA 02139 1 0 0 0 Stock Option (right to buy) 3.82 2008-05-15 4 A 0 L 75000 0 A 2018-05-15 Common Stock 75000 75000 D Such option will become exercisable in thirty-six (36) substantially equal installments on each monthly anniversary of the date of grant (with any fractional shares to be cumulated and to become exercisable at the end of the earliest succeeding monthly period in which a whole share equivalent is accumulated) for a period of thirty-five (35) months, with the 36th monthly installment to become exercisable as of the commencement of business on the date of the Annual Meeting of Stockholders at which such director is up for reelection or at which such director's term ends. /s/ Nathaniel S. Gardiner, attorney-in-fact 2009-02-12