<PAGE>

                                                                   EXHIBIT 10.24

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS
AMENDED, OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE,
PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
RELATED THERETO OR AN OPINION OF COUNSEL (WHICH MAY BE COMPANY COUNSEL)
REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED
UNDER THE SECURITIES ACT OF 1933. AS AMENDED, OR ANY APPLICABLE SECURITIES LAWS.

                               WARRANT AGREEMENT

             To Purchase Shares of the Series C Preferred Stock of

                                 DOCENT, INC.

               Dated as of April 23, 1999 (the "Effective Date")

      WHEREAS, Docent, Inc. a Delaware corporation (the "Company") has entered
into a Subordinated Loan and Security Agreement dated as of April 23, 1999, and
related Subordinated Promissory Note(s) (collectively, the "Loans") with
Comdisco, Inc., a Delaware corporation (the "Warrantholder"); and

      WHEREAS, the Company desires to grant to Warrantholder, in consideration
for such Loans, the right to purchase shares of its Series C Preferred Stock;

      NOW, THEREFORE, in consideration of the Warrantholder executing and
delivering such Loans and in consideration of mutual covenants and agreements
contained herein, the Company and Warrantholder agree as follows:

1.    GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK.
      ----------------------------------------------

      The Company hereby grants to the Warrantholder, and the Warrantholder is
entitled, upon the terms and subject to the conditions hereinafter set forth, to
subscribe to and purchase, from the Company, 215,053 fully paid and
non-assessable shares of the Company's Series C Preferred Stock ("Preferred
Stock") at a purchase price of $1.86 per share (the "Exercise Price"). The
number and purchase price of such shares are subject to adjustment as provided
in Section 8 hereof.

2.    TERM OF THE WARRANT AGREEMENT.
      -----------------------------

      Except as otherwise provided for herein, the term of this Warrant
Agreement and the right to purchase Preferred Stock as granted herein shall
commence on the Effective Date and shall be exercisable for a period of (i)
Seven (7) years or (ii) three (3) years from the effective date of the Company's
initial public offering, whichever is longer.

3.    EXERCISE OF THE PURCHASE RIGHTS.
      -------------------------------

      The purchase rights set forth in this Warrant Agreement are exercisable by
the Warrantholder, in whole or in part, at any time, or from time to time, prior
to the expiration of the term set forth in Section 2 above, by tendering to the
Company at its principal office a notice of exercise in the form attached hereto
as Exhibit I (the "Notice of Exercise"), duly completed and executed. Promptly
upon receipt of the Notice of Exercise and the payment of the purchase price in
accordance with the terms set forth below, and in no event later than twenty-one
(21) days thereafter, the Company shall issue to the Warrantholder a certificate
for the number of shares of Preferred Stock purchased and shall execute the
acknowledgement of exercise in the form attached hereto as Exhibit II (the
"Acknowledgement of Exercise") indicating the number of shares which remain
subject to future purchases, if any.

      The Exercise Price may be paid at the Warrantholder's election either (i)
by cash or check, or (ii) by surrender of Warrants ("Net Issuance") as
determined below. If the Warrantholder elects the Net Issuance method, the
Company will Issue Preferred Stock in accordance with the following formula:

                  X = Y(A-B)
                      ------
                        A

                                      -1-
<PAGE>

      Where: X =    the number of shares of Preferred Stock to be issued to
                      the Warrantholder.

                    Y =  the number of shares of Preferred Stock requested
                         to be exercised under this Warrant Agreement.

                    A =  the fair market value of one (1) share of Preferred
                         Stock.

                    B =  the Exercise Price.

      For purposes of the above calculation, current fair market value of
Preferred Stock shall mean with respect to each share of Preferred Stock:

          (i)   if the exercise is in connection with an initial public offering
      of the Company's Common Stock, and if the Company's Registration Statement
      relating to such public offering has been declared effective by the SEC,
      then the fair market value per share shall be the product of (x) the
      initial "Price to Public" specified in the final prospectus with respect
      to the offering and (y) the number of shares of Common Stock into which
      each share of Preferred Stock is convertible at the time of such exercise:

          (ii)  if this Warrant is exercised after, and not in connection with
      the Company's initial public offering, and:

                (a) if traded on a securities exchange, the fair market value
            shall be deemed to be the product of (x) the average of the closing
            prices over a twenty-one (21) day period ending three days before
            the day the current fair market value of the securities is being
            determined and (y) the number of shares of Common Stock into which
            each share of Preferred Stock is convertible at the time of such
            exercise; or

                (b) if actively traded over-the-counter, the fair market value
            shall be deemed to be the product of (x) the average of the closing
            bid and asked prices quoted on the NASDAQ system (or similar system)
            over the twenty-one (21) day period ending three days before the day
            the current fair market value of the securities is being determined
            and (y) the number of shares of Common Stock into which each share
            of Preferred Stock is convertible at the time of such exercise;

          (iii) if at any time the Common Stock is not listed on any securities
      exchange or quoted in the NASDAQ System or the over-the-counter market,
      the current fair market value of the Preferred Stock shall be the product
      of (x) the highest price per share which the Company could obtain from a
      willing buyer (not a current employee or director) for shares of Common
      Stock sold by the Company, from authorized but unissued shares, as
      determined in good faith by its Board of Directors and (y) the number of
      shares of Common Stock into which each share of Preferred Stock is
      convertible at the time of such exercise, unless the Company shall become
      subject to a merger, acquisition or other consolidation pursuant to which
      the Company is not the surviving party, in which case the fair market
      value of Preferred Stock shall be deemed to be the value received by the
      holders of the Company's Preferred Stock on a common equivalent basis
      pursuant to such merger or acquisition.

      Upon partial exercise by either cash or Net Issuance, the Company shall
promptly issue an amended Warrant Agreement representing the remaining number of
shares purchasable hereunder. All other terms and conditions of such amended
Warrant Agreement shall be identical to those contained herein, including, but
not limited to the Effective Date hereof.

4.    RESERVATION OF SHARES.

      (a) Authorization and Reservation of Shares. During the term of the
          ---------------------------------------
Warrant Agreement, the Company will at all times have authorized and reserved a
sufficient number of shares of its Preferred Stock to provide for the exercise
of the rights to purchase Preferred Stock as provided herein.

      (b) Registration or Listing. If any shares of Preferred Stock required to
          -----------------------
be reserved hereunder require registration with or approval of any governmental
authority under any Federal or State law (other than any registration under the
Securities Act of 1933, as amended ("1933 Act"), as then in effect, or any
similar Federal statute then enforced, or any state securities law, required by
reason of any transfer involved in such conversion), or

                                      -2-
<PAGE>

listing on any domestic securities exchange, before such shares may be issued
upon conversion, the Company will, at its expense and as expeditiously as
possible, use its best efforts to cause such shares to be duly registered,
listed or approved for listing on such domestic securities exchange, as the case
may be.

5.    NO FRACTIONAL SHARES OR SCRIP.
      -----------------------------

      No fractional shares or scrip representing fractional shares shall be
issued upon the exercise of the Warrant, but in lieu of such fractional shares
the Company shall make a chase payment therefor upon the basis of the Exercise
Price then in effect.

6.    NO RIGHTS AS SHAREHOLDER.
      ------------------------

      This Warrant Agreement does not entitle the Warrantholder to any voting
rights or other rights as a shareholder of the Company prior to the exercise of
the Warrant.

7.    WARRANTHOLDER REGISTRY.
      ----------------------

      The Company shall maintain a registry showing the name and address of the
registered holder of this Warrant Agreement.

8.    ADJUSTMENT RIGHTS.
      -----------------

      The purchase price per share and the number of shares of Preferred Stock
purchasable hereunder are subject to adjustment, as follows:

      (a) Merger and Sale of Assets. If at any time there shall be a capital
          -------------------------
reorganization of the shares of the Company's stock (other than a combination,
reclassification, exchange or subdivision of shares otherwise provided for
herein), or a merger or consolidation of the Company with or into another
corporation whether or not the Company is the surviving corporation, or the sale
of all or substantially all of the Company's properties and assets to any other
person (hereinafter referred to as a "Merger Event"), then, as a part of such
Merger Event, lawful provision shall be made so that the Warrantholder shall
thereafter be entitled to receive, upon exercise of the Warrant, the number of
shares of preferred stock or other securities of the successor corporation
resulting from such Merger Event, equivalent in value to that which would have
been issuable if Warrantholder had exercised this Warrant immediately prior to
the Merger Event. In any such case, appropriate adjustment (as determined in
good faith by the Company's Board of Directors) shall be made in the application
of the provisions of this Warrant Agreement with respect to the rights and
interest of the Warrantholder after the Merger Event to the end that the
provisions of this Warrant Agreement (including adjustments of the Exercise
Price and number of shares of Preferred Stock purchasable) shall be applicable
to the greatest extent possible.

      (b) Reclassification of Shares. If the Company at any time shall, by
          --------------------------
combination, reclassification, exchange or subdivision of securities or
otherwise, change any of the securities as to which purchase rights under this
Warrant Agreement exist into the same or a different number of securities of any
other class or classes, this Warrant Agreement shall thereafter represent the
right to acquire such number and kind of securities as would have been issuable
as the result of such change with respect to the securities which were subject
to the purchase rights under this Warrant Agreement immediately prior to such
combination, reclassification, exchange, subdivision or other change.

      (c) Subdivision or Combination of Shares. If the Company at any time shall
          ------------------------------------
combine or subdivide its Preferred Stock, the Exercise Price shall be
proportionately decreased in the case of a subdivision, or proportionately
increased in the case of a combination.

      (d) Stock Dividends. If the Company at time shall pay a dividend payable
          ---------------
in, or make any other distribution (except any distribution specifically
provided for in the foregoing subsections (a) or (b)) of the Company's stock,
then the Exercise Price shall be adjusted, from and after the record date of
such dividend or distribution, to that price determined by multiplying the
Exercise Price in effect immediately prior to such record date by a fraction (i)
the numerator of which shall be the total number of all shares of the Company's
stock outstanding immediately prior to such dividend or distribution, and (ii)
the denominator of which shall be the total number of all shares of the
Company's stock outstanding immediately after such dividend or distribution. The
Warrantholder shall thereafter be entitled to purchase, at the Exercise Price
resulting from such adjustment, the number of shares of Preferred Stock
(calculated to the nearest whole share) obtained by multiplying the Exercise
Price in effect immediately prior to such

                                      -3-
<PAGE>

adjustment by the number of shares of Preferred Stock issuable upon the exercise
hereof immediately prior to such adjustment and dividing the product thereof by
the Exercise Price resulting from such adjustment.

      (e) Right to Purchase Additional Stock. If the Company has not paid any
          ----------------------------------
Subordinated Promissory Note(s) entered into pursuant to the Loan(s) in its
entirety by the Maturity Date (as defined in the applicable Subordinated
Promissory Note(s)), then for each additional month, or portion thereof,
thereafter that the outstanding principal is not paid. Warrantholder shall have
the right to purchase from the Company, at the Exercise Price (adjusted as set
forth herein), an additional number of shares of Preferred Stock which number
shall be determined by (i) multiplying the outstanding principal amount which
due but unpaid by 1% and (ii) dividing the product thereof by the Exercise
Price.

      (f) Antidilution Rights. Additional antidilution rights applicable to the
          -------------------
Preferred Stock purchasable hereunder are as set forth in the Company's
Certificate of Incorporation, as amended through the Effective Date, a true and
complete copy of which is attached hereto as Exhibit a (the "Charter"). The
Company shall promptly provide the Warrantholder with any restatement,
amendment, modification or waiver of the Charter. The Company shall provide
Warrantholder with prior written notice of any issuance of its stock or other
equity security to occur after the Effective Date of this Warrant, which notice
shall include (a) the price at which such stock or security is to be sold, (b)
the number of shares to be issued, and (c) such other information as necessary
for Warrantholder to determine if a dilutive event has occurred.

      (g) Notice of Adjustments. If: (i) the Company shall declare any dividend
          ---------------------
or distribution upon its stock, whether in cash, property, stock or other
securities; (ii) the Company shall offer for subscription prorata to the holders
of any class of its Preferred or other convertible stock any additional shares
of stock of any class or other rights resulting in a dilutive event; (iii) there
shall be any Merger Event; (iv) there shall be an initial public offering; or
(v) there shall be any voluntary dissolution, liquidation or winding up of the
Company; then, in connection with each such event, the Company shall send to the
Warrantholder: (A) at least twenty (20) days' prior written notice of the date
on which the books of the Company shall close or a record shall be taken for
such dividend, distribution, subscription rights (specifying the date on which
the holders of Preferred Stock shall be entitled thereto) or for determining
rights to vote in respect of such Merger Event, dissolution, liquidation or
winding up; (B) in the case of any such Merger Event, dissolution, liquidation
or winding up, at least twenty (20) days' prior written notice of the date when
the same shall take place (and specifying the date on which the holders of
Preferred Stock shall be entitled to exchange their Preferred Stock for
securities or other property deliverable upon such Merger Event, dissolution,
liquidation or winding up); and (C) in the case of a public offering, the
Company shall give the Warrantholder at least twenty (20) days written notice
prior to the effective date thereof.

      Each such written notice shall set forth, in reasonable detail, (i) the
event requiring the adjustment, (ii) the amount of the adjustment, (iii) the
method by which such adjustment was calculated, (iv) the Exercise Price, and (v)
the number of shares subject to purchase hereunder after giving effect to such
adjustment, and shall be given by first class mail, postage prepaid, addressed
to the Warrantholder, at the address as shown on the books of the Company.

      (h) Timely Notice. Failure to timely provide such notice required by
          -------------
subsection (g) above shall entitle Warrantholder to retain the benefit of the
applicable notice period notwithstanding anything to the contrary contained in
any insufficient notice received by Warrantholder. The notice period shall begin
on the date Warrantholder actually receives a written notice containing all the
information specified above.

9.    REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY.
      --------------------------------------------------------

      (a) Reservation of Preferred Stock. The Preferred Stock issuable upon
          ------------------------------
exercise of the Warrantholder's rights has been duly and validly reserved and,
when issued in accordance with the provisions of this Warrant Agreement, will be
validly issued, fully paid and non-assessable, and will be free of any taxes,
liens, charges or encumbrances of any nature whatsoever; provided, however, that
the Preferred Stock issuable pursuant to this Warrant Agreement may be subject
to restrictions on transfer under state and/or Federal securities laws. The
Company has made available to the Warrantholder true, correct and complete
copies of its Charter and Bylaws, as amended. The issuance of certificates for
shares of Preferred Stock upon exercise of the Warrant Agreement shall be made
without charge to the Warrantholder for any issuance tax in respect thereof, or
other cost incurred by the Company in connection with such exercise and the
related issuance of shares of Preferred Stock. The Company shall not be required
to pay any tax which may be payable in respect of any transfer involved and the
issuance and delivery of any certificate in a name other than that of the
Warrantholder.

      (b) Due Authority. The execution and delivery by the Company of this
          -------------
Warrant Agreement and the performance of all obligations of the Company
hereunder, including the issuance to Warrantholder of the right to acquire the
shares of Preferred Stock, have been duly authorized by all necessary corporate
action on the part of the Company, and the Leases and this Warrant Agreement are
not inconsistent with the Company's Charter or Bylaws., do not contravene any
law or governmental rule, regulation or order applicable to it, do not and will
not contravene any provision of, or constitute a default under, any indenture,
mortgage, contract or other instrument to which it is a party or by which it is
bound, and the Leases and this Warrant Agreement constitute legal, valid and
binding agreements of the Company, enforceable in accordance with their
respective terms.

                                      -4-
<PAGE>

      (c) Consents and Approvals. No consent or approval of, giving notice to,
          ----------------------
registration with, or taking of any other action in respect of any state,
Federal or other governmental authority or agency is required with respect to
the execution, delivery and performance by the Company of its obligations under
this Warrant Agreement, except for the filing of notice pursuant to Regulation D
under the 1933 Act and any filing required by applicable state securities law,
which filings will be effective by the time required thereby.

      (d) Issued Securities. All issued and outstanding shares of Common Stock,
          -----------------
Preferred Stock or any other securities of the Company have been duly authorized
and validly issued and are fully paid nonassessable. All outstanding shares of
Common Stock, Preferred Stock and any other securities were issued in full
compliance with all Federal and state securities laws. In addition:

          (i)   The authorized capital of the Company consists of (A) 25,000,000
      shares of Common Stock, of which 5,126,843 shares are issued and
      outstanding, and (B) 11,983,816 shares of preferred stock, of which
      11,211,363 shares are issued and outstanding and are convertible into
      11,211,383 shares of Common Stock at prices ranging from $0.675 to $1.86
      per share.

          (ii)  The Company has reserved 4,500,000 shares of Common Stock for
      issuance under its Incentive Stock Option Plan, under which 1,825,345
      options are outstanding at an average price of $0.20 per share. There are
      no other options, warrants, conversion privileges or other rights
      presently outstanding to purchase or otherwise acquire any authorized but
      unissued shares of the Company's capital stock or other securities of the
      Company.

          (iii) In accordance with the Company's Articles of Incorporation, no
      shareholder of the Company has preemptive rights to purchase new issuances
      of the Company's capital stock.

      (e) Insurance. The Company has in full force and effect insurance
policies, with extended coverage, insuring the Company and its property and
business against such losses and risks, and in such amounts, as are customary
for corporations engaged in a similar business and similarly situated and as
otherwise may be required pursuant to the terms of any other contract or
agreement.

      (f) Other Commitments to Register Securities. Except as set forth in this
Warrant Agreement, the Company is not, pursuant to the terms of any other
agreement currently in existence, under any obligation to register under the
1933 Act any of its presently outstanding securities or any of its securities
which may hereafter be issued.

      (g) Exempt Transaction. Subject to the accuracy of the Warrantholder's
representations in Section 10 hereof, the issuance of the Preferred Stock upon
exercise of this Warrant will constitute a transaction exempt from (i) the
registration requirements of Section 5 of the 1933 Act, in reliance upon Section
4(2) thereof, and (ii) the qualification requirements of the applicable state
securities laws.

      (h) Compliance with Rule 144. At the written request of the Warrantholder,
who proposes to sell Preferred Stock issuable upon the exercise of the Warrant
in compliance with Rule 144 promulgated by the Securities and Exchange
Commission, the Company shall furnish to the Warrantholder, within ten days
after receipt of such request, a written statement confirming the Company's
compliance with the filing requirements of the Securities and Exchange
Commission as set forth in such Rule, as such Rule may be amended from time to
time.

10.   REPRESENTATIONS AND COVENANTS OF THE WARRANTHOLDER.
      --------------------------------------------------

      This Warrant Agreement has been entered into by the Company in reliance
upon the following representations and covenants of the Warrantholder.

      (a) Investment Purpose. The right to acquire Preferred Stock or the
          ------------------
Preferred Stock issuable upon the exercise of the Warrantholder's rights
contained herein will be acquired for investment and not with a view to the sale
or distribution of any part thereof, and the Warrantholder has no present
intention of selling or engaging in any public distribution of the same except
pursuant to a registration or exemption.

      (b) Private Issue. The Warrantholder understands (i) that the Preferred
          -------------
Stock issuable upon exercise of this Warrant is not registered under the 1993
Act or qualified under applicable state securities laws on the ground that the
issuance contemplated by this Warrant Agreement will be exempt from the
registration and qualifications requirements thereof, and (ii) that the
Company's reliance on such exemption is predicated on the representations set
forth in this Section 10.

                                      -5-
<PAGE>

      (c) Disposition of Warrantholder's Rights. In no event will the
          -------------------------------------
Warrantholder make a disposition of any of its rights to acquire Preferred Stock
or Preferred Stock issuable upon exercise of such rights unless and until (i) it
shall have notified the company of the proposed disposition, and (ii) if
requested by the company, it shall have furnished the company with an opinion of
counsel (which counsel may either be inside or outside counsel to the
Warrantholder) satisfactory to the company and its counsel to the effect that
(A) appropriate action necessary for compliance with the 1933 Act has been
taken, or (B) an exemption from the registration requirements of the 1933 Act is
available. Notwithstanding the foregoing, the restrictions imposed upon the
transferability of any of its rights to acquire Preferred Stock or Preferred
Stock Issuable on the exercise of such rights do not apply to transfers from the
beneficial owner of any of the aforementioned securities to its nominee or from
such nominee to its beneficial owner, and shall terminate as to any particular
share of Preferred Stock when (1) such security shall have been effectively
registered under the 1933 Act and sold by the holder thereof in accordance with
such registration or (2) such security shall have been sold without registration
in compliance with Rule 1744 under the 1933 Act, or (3) a letter shall have been
issued to the Warrantholder at its request by such Commission stating that no
action shall be recommended by such staff or taken by such Commission, as the
case may be, if such security is transferred without registration under the 1933
Act in accordance with the conditions set forth in such letter or ruling and
such letter or ruling specifies that no subsequent restrictions on transfer are
required. Whenever the restrictions imposed hereunder shall terminate, as
hereinabove provided, the Warrantholder or holder of a share of Preferred Stock
then outstanding as to which such restrictions have terminated shall be entitled
to receive from the Company, without expense to such holder, one or more new
certificates for the Warrant or for such shares of Preferred Stock not bearing
any restrictive legend.

      (d) Financial Risk. The Warrant holder has such knowledge and experience
          --------------
in financial and business matters as to be capable of evaluating the merits and
risks of it investment, and has the ability to bear the economic risks of its
investment.

      (e) Risk of No Registration. the Warrant holder understands that if the
          -----------------------
company does not register with the Securities and Exchange commission pursuant
to Section 12 of the 1934 Act (the "1934 Act"), or file reports pursuant to
Section 15(d), of the 1934 Act, or if a registration statement covering the
securities under the 1933 Act is not in effect when it desires to sell (i) the
rights to purchase Preferred Stock pursuant to this Warrant Agreement or (ii)
the Preferred stock Issuable upon exercise of the right to purchase, it may be
required to hold such securities for an indefinite period. The Warrantholder
also understands that any sale of its rights of the Warrantholder to purchase
Preferred Stock or Preferred Stock which might be made by it in reliance upon
rule 144 under the 1933 Act may be made only in accordance with the terms and
conditions of that Rule.

      (f) Accredited Investor. Warrant holder is an "accredited investor" within
          -------------------
the meaning of the Securities and Exchange rule 501 of Regulation D, as
presently in effect.

11.   RIGHT OF FIRST OFFER.
      --------------------

      In accordance with the provisions of Section 4 of Amended and restated
Investor Rights Agreement dated as of March 23, 1999 and as may be amended form
time to time ("Investor Rights Agreement"). Warrantholder shall have the right
of first refusal to purchase up to its pr rata share of all Equity Securities,
as defined in Section 4 of the Investor Rights Agreement, that the Company may,
from time to time, sell and issue after the Effective Date hereof, other than
the Equity Securities excluded by Section 4.5 thereof. This right of first
refusal shall not apply to and shall terminate upon the effective date of the
registration statement pertaining to the company first firm commitment
underwritten public offering of its common Stock registered under the Securities
Act of 1933. The company and Warrantholder agree to be bound by the Notice.
Exercise and Waiver of Rights provisions of Section 4.2 of the Investor Rights
Agreement.

12.   TRANSFERS.
      ---------

      Subject to the terms and conditions contained in Section 10 hereof, this
Warrant Agreement and all rights hereunder are transferable in whole or in part
by the Warrantholder and any successor transferee, provided, however, in no
event shall the number of transfers of the rights and interests in all of the
Warrants exceed three (3) transfers. The transfer shall be recorded on the books
of the Company upon receipt by the Company of a notice of transfer in the form
attached hereof as Exhibit III (the "Transfer Notice"), at its principal offices
and the payment to the Company of all transfer taxes and other governmental
charges imposed on such transfer.

                                      -6-
<PAGE>

13.   MISCELLANEOUS.

      (a) Effective Date. The provisions of this Warrant Agreement shall be
          --------------
construed and shall be given effect in all respects as if it had been executed
and delivered by the company on the date hereof. This Warrant Agreement shall be
binding upon any successors or assigns of the Company.

      (b) Attorney's Fees. In any litigation, arbitration or court proceeding
          ---------------
between the company and the Warrantholder relating hereto, the prevailing party
shall be entitled to attorneys' fees and expenses and all costs of proceedings
incurred in enforcing this Warrant Agreement.

      (c) Governing Law. This Warrant Agreement shall be governed by and
          -------------
construed for all purposes under an in accordance with the laws of the State of
Illinois.

      (d) Counterparts. This Warrant Agreement may be executed in two or more
          ------------
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

      (e) Notices. Any notice required or permitted hereunder shall be given in
          -------
writing and shall be deemed effectively given upon personal delivery, facsimile
transmission (provided that the original is sent by personal delivery or mail as
hereinafter set forth) or seven (7) days after deposit in the United States
mail, by registered or certified mail, addressed (i) to the Warrantholder at
6111 North River Road, Rosemont, Illinois 60018, attention: Venture Lease
Administration, cc: Legal Department, attention: General Counsel, (and/or, if by
facsimile, (847) 518-5465 and (847) 518-5088) and (ii) to the Company at 2444
Charleston Road, Mountain View, CA 94043-1622. Attention: Julie O'Connor (and/or
if by facsimile, (650) 962-9411 at such other address as any such party may
subsequently designate by written notice to the other party.

      (f) Remedies. In the event of any default hereunder, the non-defaulting
          --------
party may proceed to protect and enforce its rights weather by suit in equity
and/or by action at law, including but not limited to an action for damages as a
result of any such default, and/or an action for specific performance for any
default where Warrantholder will not have an adequate remedy at law and where
damages will not be readily ascertainable. The Company expressly agrees that it
shall not oppose an application by the Warrantholder or any other person
entitled to the benefit of this Agreement requiring specific performance of any
of all provision hereof or enjoining the company from continuing to commit any
such breach of this Agreement.

      (g) No Impairment of Rights. The Company will not, by amendment of its
          -----------------------
Charter or through any other means, avoid or seek to avoid the observance or
performance of any of the terms of this Warrant, but will at all times in good
faith assist in the carving out of all such terms and in the taking of all such
actions as may be necessary or appropriate in order to protect the rights of the
Warrantholder against impairment.

      (h) Survival. The representations, warranties, covenants and conditions of
          --------
the respective parties contained herein or made pursuant to the Warrant
Agreement shall survive the execution and delivery of this Warrant Agreement.

      (i) Severability. In the event any one or more of the provisions of this
          ------------
Warrant Agreement shall for any reason be held invalid, illegal or
unenforceable, the remaining provisions of this Warrant Agreement shall be
unimpaired, and the invalid, illegal or unenforceable provision shall be
replaced by a mutually acceptable valid, legal and enforceable provision, which
comes closest to the intention of the parties underlying the invalid, illegal or
unenforceable provision.

      (j) Amendments. Any provision of this Warrant Agreement may be amended by
          ----------
a written instrument signed by the Company and by the Warrantholder.

      (k) Additional Documents. The Company, upon execution of this Warrant
          --------------------
Agreement, shall provide the Warrantholder with certified resolutions with
respect to the representations, warranties and covenants set forth in
subparagraphs (a) through (d), (f) and (g) of Section 9 above, if the purchase
price for the Leases referenced in the preamble of this Warrant Agreement
exceeds $1,000,000, the Company will also provide Warrantholder with an opinion
form the company's counsel with respect to those same representations,
warranties and covenants. The company shall also supply such other documents as
the Warrantholder may from time to time reasonably request.

                                      -7-
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Warrant Agreement
to be executed by its officers thereto duly authorized as of the Effective Date.


                                        Company: DOCENT, INC.


                                        By: /s/ Julia A. O'Connor
                                           -------------------------------------

                                        Title: V.P. and CFO
                                              ----------------------------------

                                        Warrantholder: COMDISCO, INC.


                                        By: /s/ James Labe
                                           -------------------------------------

                                                  James Labe, President
                                        Title:  Comdisco Ventures Division
                                              ----------------------------------

                                      -8-
<PAGE>

                                   EXHIBIT I

                              NOTICE OF EXERCISE

To:   ___________________________

(1)   The undersigned Warrantholder hereby elects to purchase ________ shares of
      the Series ________ Preferred Stock of ____________________, pursuant to
      the terms or the Warrant Agreement dated the ________ day of ____________,
      1999 (the "Warrant Agreement") between ___________________________________
      and the Warrantholder, and tenders herewith payment of the purchase price
      for such shares in full, together with all applicable transfer taxes, if
      any.

(2)   In exercising its rights to purchase the Series ________ Preferred Stock
      of ____________________, the undersigned hereby confirms and acknowledges
      the investment representations and warranties made in Section 10 of the
      Warrant Agreement.

(3)   Please issue a certificate or certificates representing said shares of
      Series ________ Preferred Stock in the name of the undersigned or in such
      other name as is specified below.

___________________________________
(Name)

___________________________________
(Address)

Warrantholder: COMDISCO, INC.

By:________________________________

Title:_____________________________

Date:______________________________

                                      -9-
<PAGE>

                                  EXHIBIT II

                          ACKNOWLEDGMENT OF EXERCISE

      The undersigned , hereby acknowledge receipt of the "Notice of Exercise"
from Comdisco, Inc., to purchase shares of the Series Preferred Stock of
pursuant to the terms of the Warrant Agreement, and further acknowledges that
shares remain subject to purchase under the terms of the Warrant Agreement.

                                   Company:

                                   By:     ________________________________

                                   Title:  ________________________________

                                   Date:   ________________________________

                                      -10-
<PAGE>

                                  EXHIBIT III

                                TRANSFER NOTICE

(To transfer or assign the foregoing Warrant Agreement execute this form and
supply required information. Do not use this form to purchase shares.)

      FOR VALUE RECEIVED, the foregoing Warrant Agreement and all rights
evidenced thereby are hereby transferred and assigned to

_____________________________________________________________________
(Please Print)

whose address is_____________________________________________________


                        Dated: ______________________________________

                        Holder's Signature:  ________________________

                        Holder's Address:    ________________________

                        _____________________________________________

Signature Guaranteed:   _____________________________________________

NOTE: The signature to this Transfer Notice must correspond with the name as it
      appears on the face of the Warrant Agreement, without alteration or
      enlargement or any change whatever. Officers of corporations and those
      acting in a fiduciary or other representative capacity should file proper
      evidence of authority to assign the foregoing Warrant Agreement.

                                      -11-