Summary of IDERA PHARMACEUTICALS, INC.

Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On December 15, 2009, the Compensation Committee of the Board of Directors of Idera Pharmaceuticals, Inc. (the "Company") approved compensation for its named executive officers, as set forth in the bullets and the table below:
Х The payment of cash bonus awards for 2009;

Х The grant of options to purchase shares of common stock of the Company;

Х New annual base salaries for 2010; and

Х Bonus targets as a percentage of base salary for 2010.

                                                                                           2010 Annual         2010 Bonus
Name                                            2009 Bonus          Stock Options            Salary              Target

Sudhir Agrawal                                  $ 357,000                300,000          $   530,000                70 %
President, Chief Executive Officer and
Chief Scientific Officer
Louis J. Arcudi, III                            $  70,000                110,000          $   290,000                27 %
Chief Financial Officer
Alice Bexon*                                    $  36,000                 24,000          $   200,000                25 %
Vice President, Clinical Development
Timothy Sullivan                                $  65,000                 70,000          $   289,120                25 %
Vice President, Development Programs

* During 2009, Dr. Bexon worked a 60% schedule and the annual salary listed in the table above assumes continuation of such schedule. Dr. Bexon's
2010 annual
salary would
be $333,333
on a
full-time
basis.

Each of the options to purchase shares of the Company's common stock is granted effective as of December 23, 2009 (the "date of grant") and made pursuant to the Company's 2008 Stock Incentive Plan. The exercise price will be equal to the closing price of the Company's Common Stock on the NASDAQ Global Market on the date of grant, and the options will vest in equal quarterly installments over four years commencing on the date of grant.