Exhibit 10.39

AMENDED NON-EMPLOYEE DIRECTOR
CASH COMPENSATION ARRANGEMENT
(EFFECTIVE: APRIL 15, 2004)

        Each director of Corgentech Inc. (the “Company”) who is not an officer
or employee of the Company will receive an annual retainer fee of $25,000 paid
in four equal quarterly installments. An additional annual cash retainer of
$5,000 will be paid to each of (1) the Chairman of the Board, (2) the Chairman
of the Compensation Committee, and (3) the Chairman of the Corporate Governance
Committee.  Such cash retainers will also be paid in four equal quarterly
installments, The Chairman of the Audit Committee will receive an additional
$7,500 annually, also paid in four equal quarterly installments.  In addition,
each non-employee director will receive $2,000 for attendance at each Board
meeting, or $750 for attendance if such participation is by telephone and $750
for attendance at each committee meeting, whether in person or by telephone.

 

 

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