0001012870-99-003763 Sample Contracts

PROMISSORY NOTE ---------------
Promissory Note • October 20th, 1999 • Maxygen Inc • California

___________, ("Obligor"), for value received, hereby promises to pay to the order of Maxygen, Inc. or holder ("Payee"), in lawful money of the United States at the address of Payee set forth below, the principal sum of ___________________________ Dollars ($_______), together with interest on the unpaid principal at the compounded annual rate of 6.42%. Interest shall be due and payable on December 31 and June 30 of each year. Unpaid principal together with all accrued interest shall be due and payable on the earlier of (a) March 14, 2001, or (b) 30 days after the date of termination of Obligor's employment by Payee. This Note may be prepaid, in whole or in part, at any time without premium or penalty.

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RECITALS --------
Registration Rights Agreement • October 20th, 1999 • Maxygen Inc • Delaware
BACKGROUND
Indemnification Agreement • October 20th, 1999 • Maxygen Inc • Delaware
LEASE BETWEEN
Lease • October 20th, 1999 • Maxygen Inc • California
RECITALS --------
Lease • October 20th, 1999 • Maxygen Inc
RECITALS --------
Series E Preferred Stock Purchase Agreement • October 20th, 1999 • Maxygen Inc • Delaware
150,000.00 Redwood City, CA April 22, 1999
Promissory Note • October 20th, 1999 • Maxygen Inc • California
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