Document:

RAMTRON INTERNATIONAL CORPORATION

                            Warrant to Purchase Shares
                                 of Common Stock

RAMTRON INTERNATIONAL CORPORATION, a Delaware corporation (the "Company"),
hereby certifies that, for value received and the cancellation of that certain
warrant issued in the name of Oren Lee Benton, Debtor in Possession, dated
October 5, 1995 for 1,100,000 shares of Common Stock, NTC Liquidating Trust or
its assigns (the "Holder") is entitled to purchase from the Company, during the
period commencing on the date hereof and ending at 5:00 p.m. Eastern Time on
the Expiration Date (as hereinafter defined) (the "Warrant Exercise Period"),
subject to the terms and conditions hereinafter set forth, the number of shares
of the Common Stock, par value $0.01, of the Company determined in accordance
with Section 1.

Capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to them in the Loan Agreement by and between the Holder and the
Company dated effective as of August 31, 1995 (the "Loan Agreement").

1.  Number of Warrant Shares.  Subject to adjustment as provided in Section 4,
the number of shares of Common Stock for which this Warrant may, at any given
time during the Warrant Exercise Period, be exercised (such total number of
underlying unissued shares as may, from time to time, be issuable upon the
exercise hereof being hereinafter referred to as the "Warrant Shares") shall be
220,000 (which number reflects the 1-for-5 reverse stock split for Ramtron
Common Stock which became effective August 6, 1999).

2.  Exercise Price.  This Warrant is exercisable for Warrant Shares at a price
per share (the "Warrant Price") equal to $5.00.

3.  Expiration Date.  Except as otherwise provided herein, this Warrant shall
expire on the earlier to occur of (a) the date on which this Warrant is fully
exercised and (b) 5:00 p.m. Eastern Time, on August 31, 2002, or, if such day
is not a Business Day, then at 5:00 p.m. Eastern Time on the next succeeding
Business Day (the "Expiration Date")."

4.  Procedure for Exercise.  Subject to Section 5, the Holder may exercise this
Warrant by presenting and surrendering it to the Company at the office
specified in Section 12 between the hours of 9:00 a.m. and 5:00 p.m. on any
Business Day during the Warrant Exercise Period, accompanied by (a) payment in
cash of the aggregate Warrant Price of the Warrant Shares to be purchased and
(b) a subscription form duly executed by the Holder in substantially the form
attached hereto as Annex A. The number of Warrant Shares shall be reduced
immediately upon any partial exercise by the number of shares so purchased, and
a new Warrant, of like tenor and effect herewith, for the remaining Warrant
Shares shall be issued to the Holder.

                                  Page-143
<PAGE>
5.  Conditions to Exercise.  It shall be a condition precedent to any exercise
of this Warrant to purchase shares of Common Stock that the Holder shall have
obtained, prior to such exercise, all regulatory approvals, if any, required to
lawfully acquire such shares.

6.  Covenants. The Company covenants and agrees with the Holder as follows:

    (a)  All Warrant Shares shall, upon delivery to the Holder, be duly
         authorized, validly issued, fully paid and non-assessable shares of
         Common Stock.

    (b)  The Company shall pay when due and payable any and all federal and
         state original issue stock taxes, if any, that may be payable in
         respect of the issuance of Warrant Shares upon whole or partial
         exercise of this Warrant.

    (c)  The Company shall at all times on or after the issuance of this
         Warrant and prior to the expiration of the Warrant Exercise Period
         reserve and keep available a number of authorized but unissued shares
         of Common Stock sufficient to permit the full exercise of this
         Warrant.  If at any time the number of authorized but unissued shares
         of Common Stock is not sufficient for this purpose, the Company shall
         take such corporate action as may be necessary to increase the
         authorized but unissued shares of Common Stock to a number that is
         sufficient for this purpose.

    (d)  The Company shall cooperate fully with the Holder in obtaining any
         regulatory approvals referred to in Section 5 hereof.

7.  Loss, Theft, Destruction or Mutilation.  Upon delivery by the Holder to the
Company of evidence reasonably satisfactory to the Company of the ownership and
loss, theft, destruction or mutilation of this Warrant, and (a) in the case of
loss, theft or destruction, of indemnity reasonably satisfactory to the
Company, and (b) in the case of mutilation, of this Warrant for cancellation,
the Company shall execute and deliver, in lieu thereof, a new Warrant of like
tenor and effect herewith; provided, however, that the Company may require as
an additional condition to issuance of any such substitute Warrant payment of a
sum sufficient to reimburse it for any stamp tax, other governmental charge or
out-of-pocket expense connected therewith.

8.  Rights of Holder.

    (a)  The Holder of this Warrant or of any portion thereof shall not, solely
         as such, be entitled to vote or receive dividends or be deemed the
         holder of Common Stock for any purpose nor shall anything contained in
         this Warrant be construed to confer upon the Holder, as such, any of
         the rights of a stockholder of the Company or any right to vote for
         the election of directors or upon any matter submitted to stockholders
         at any meeting thereof, or to give or withhold consent to any
         corporate action (whether upon a merger, conveyance or otherwise) or
         to receive notice of meetings, or to receive dividends or subscription
         rights or otherwise until this Warrant shall have been exercised and
         the Warrant Shares shall have become deliverable.

                                  Page-144
<PAGE>
    (b)  Regardless of the date of issue and delivery of certificates
         representing such shares, the Holder shall for all purposes be deemed
         to have become the holder of record of all shares purchased upon
         exercise of this Warrant as of the close of business on the date on
         which the Company has received, with respect to such purchase, (a)
         this Warrant, (b) the Warrant Price and (c) a duly executed
         subscription form.

9.  Transfer of Warrant.  The Company shall, upon surrender to it of this
Warrant, accompanied by one or more duly executed certificates of transfer in
substantially the form attached hereto as Annex B, execute and deliver in lieu
hereof (a) to and in the name of each assignee or transferee, a new Warrant, of
like tenor and effect herewith, representing the right to purchase, on the same
terms and conditions as set forth herein, such number of the Warrant Shares as
shall have been so assigned or transferred; and (b) to the Holder, in case the
right to purchase some portion of the Warrant Shares shall have been retained
by the Holder, a new Warrant, of like tenor and effect herewith, representing
the right to purchase, on the same terms and conditions as set forth herein,
such number of Warrant Shares.

10.  Disposition of Shares.

    (a)  Each Holder understands and agrees that this Warrant and the Warrant
         Shares have not been registered under either the Securities Act of
         1933, as amended (the "Act") or any applicable state securities laws
         (the "State Acts") and may not lawfully be sold or otherwise disposed
         of for value except upon registration of such transfer in accordance
         with the securities registration requirements of the Act and any
         applicable State Acts, or pursuant to an exemption from such
         registration requirements.

    (b)  Any certificates evidencing shares purchased upon exercise hereof
         shall be imprinted with a conspicuous legend in substantially the
         following form:

         The securities represented by this certificate have not been
         registered under either the Securities Act of 1933, as amended (the
         "Act") or applicable state securities laws (the "State Acts") and
         shall not be sold or otherwise disposed of for value by the Holder
         except upon registration of such sale or disposition in accordance
         with the securities registration requirements of the Act and any
         applicable State Acts, or pursuant to exemption from such registration
         requirements.

    (c)  In connection with the exercise of this Warrant and the issuance of
         the Warrant Shares, and upon the request of Holder, Borrower shall
         register under the Securities Act of 1933, as amended, within a
         reasonable period of time after the date of such exercise and
         issuance, the resale of the Warrant Shares issued pursuant to such
         exercise.

                                  Page-145
<PAGE>
11.  Adjustment of Purchase Price and Number of Shares.  The number and kind of
securities purchasable upon the exercise of the Warrants and the Warrant Price
shall be subject to adjustment from time to time upon the happening of certain
events, as follows:

    (a)  Consolidation, Merger or Reclassification.  If the Company at any time
         while the Warrants remain outstanding and unexpired shall consolidate
         with or merge into any other corporation, or sell all or substantially
         all of its assets to another corporation, or reclassify or in any
         manner change the securities then purchasable upon the exercise of the
         Warrants (any of which shall constitute a "Reorganization"), then
         lawful and adequate provision shall be made whereby this Warrant
         certificate shall thereafter evidence the right to purchase such
         number and kind of securities and other property as would have been
         issuable or distributable on account of such Reorganization upon or
         with respect to the securities which were purchasable or would have
         become purchasable under the Warrants immediately prior to such
         Reorganization.  The Company shall not effect any such Reorganization
         unless prior to or simultaneously with the consummation thereof the
         successor corporation (if other than the Company) resulting from such
         Reorganization shall assume by written instrument executed and mailed
         or delivered to the Holder, at the last address of the Holder
         appearing on the books of the Company, the obligation to deliver to
         the Holder such shares of stock, securities or assets as, in
         accordance with the foregoing provisions, the Holder may be entitled
         to purchase.  Notwithstanding anything in this Section 11(a) to the
         contrary, the prior two sentences shall be inoperative and of no force
         and effect if upon the completion of any such Reorganization the
         stockholders of the Company immediately prior to such event do not own
         at least fifty percent (50%) of the equity interest of the corporation
         resulting from such Reorganization and those Warrants which are
         unexercised shall expire on the completion of such Reorganization if
         the notice required by Section 11(e) hereof has been given.

    (b)  Subdivision or Combination of Shares.  If the Company at any time
         while the Warrants remain outstanding and unexpired shall subdivide or
         combine its Common Stock, the Warrant Price shall be adjusted to a
         price determined by multiplying the Warrant Price in effect
         immediately prior to such subdivision or combination by a fraction (i)
         the numerator of which shall be the total number of shares of Common
         Stock outstanding immediately prior to such subdivision or combination
         and (ii) the denominator of which shall be the total number of shares
         of Common Stock outstanding immediately after such subdivision or
         combination.

    (c)  Certain Dividends and Distribution.  If the Company at any time prior
         to the expiration of the Warrant Exercise Period shall take a record
         of the holders of its Common Stock for the purposes of:

                                  Page-146
<PAGE>
         (i)  Stock Dividends.  Entitling them to receive a dividend payable
              in, or to receive any other distribution without consideration
              of, Common Stock, then the Warrant Price shall be adjusted to the
              price determined by multiplying the Warrant Price in effect
              immediately prior to each dividend or distribution by a fraction
              (A) the numerator of which shall be the total number of shares of
              Common Stock outstanding immediately prior to such dividend or
              distribution, and (B) the denominator of which shall be the total
              number of shares of Common Stock outstanding immediately after
              such dividend or distribution; or

        (ii)  Distribution of Assets, Securities, etc.  Making any distribution
              without consideration with respect to its Common Stock (other
              than a cash dividend) payable otherwise than in its Common Stock,
              then the Holder shall, upon the exercise hereof, be entitled to
              receive, in addition to the number of Shares receivable
              thereupon, and without payment of any additional consideration
              therefor, such assets or securities as would have been payable to
              the Holder as owner of that number of Shares on the record date
              for such distribution; and an appropriate provision therefore
              shall be made a part of any such distribution.

    (d)  Adjustment of Number of Shares.  Upon each adjustment in the Warrant
         Price pursuant to Subsections (b) or (c)(i) of this Section 11, the
         number of shares purchasable under the Warrants represented by this
         certificate shall be adjusted to that number determined by multiplying
         the number of Shares purchasable upon the exercise of the Warrants
         immediately prior to such adjustment by a fraction, the numerator of
         which shall be the Warrant Price immediately prior to such adjustment
         and the denominator of which shall be the Warrant Price immediately
         following such adjustment.

    (e)  Notice.  In case at any time:

         (i)  The Company shall pay any dividend payable in stock upon its
              Common Stock or make any distribution, excluding a cash dividend,
              to the holders of its Common Stock.

        (ii)  The Company shall offer for subscription pro rata to the holders
              of its Common Stock any additional shares of stock of any class
              or other rights;

       (iii)  There shall be any reclassification of the Common Stock of the
              Company, or consolidation or merger of the Company with, or sale
              of all or substantially all of its assets to, another
              corporation; or

        (iv)  There shall be a voluntary or involuntary dissolution,
              liquidation or winding up of the Company;

                                  Page-147
<PAGE>
    then, in any one or more of such cases, the Company shall give to the
    Holder at least ten (10) days prior written notice (or, in the event of
    notice pursuant to Section 11(e)(iii), at least thirty (30) 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 or subscription
    rights or for determining rights to vote in respect to any such
    reclassification, consolidation, merger, sale, dissolution, liquidation or
    winding up.  Such notice in accordance with the foregoing clause shall also
    specify, in the case of any such dividend, distribution or subscription
    rights, the date on which the holder of Common Stock shall be entitled
    thereto, and such notice in accordance with the foregoing clause shall also
    specify the date on which the holders of Common Stock shall be entitled to
    exchange their Common Stock for securities or other property deliverable
    upon such reclassification, consolidation, merger, sale, dissolution,
    liquidation or winding up, as the case may be.  Each such written notice
    shall be given by first-class mail, postage prepaid, addressed to the
    Holder at the address of the Holder as shown on the books of the Company.

    (f)  No Change in Certificate.  The form of this Warrant certificate need
         not be changed because of any adjustment in the Warrant Price or in
         the number of Warrant Shares purchasable on its exercise.  The Warrant
         Price or the number of Warrant Shares shall be considered to have been
         so changed as of the close of business on the date of adjustment.

12.  Notices.  All notices and other communications pursuant hereto shall be in
     writing and shall be deemed given if delivered in person or sent by United
     States registered mail, postage prepaid:

     If to the Company at:

     Ramtron International Corporation
     1850 Ramtron Drive
     Colorado Springs, Colorado  80921
     Attention:  Chief Executive Officer

     If to the Holder at:

     NTC Liquidating Trust
     c/o PriceWaterhouseCoopers
     950 Seventeenth Street, Suite 2500
     Denver, Colorado  80202

     with copies to:

     James Huemoeller
     LeBoeuf, Lamb, Green & MacRae
     633 17th Street, Suite 2000
     Denver, Colorado  80202

                                  Page-148
<PAGE>
or at such other address as either party may designate in writing by notice to
the other party as provided above.

13.  Termination. This Warrant shall automatically and immediately terminate,
without any further action by the Company or the Holder, upon the occurrence of
any of the following:

     (i)  any voluntary or involuntary proceeding shall be commenced with
          respect to the Holder in a court of competent jurisdiction seeking
          relief under any applicable bankruptcy, insolvency or similar law;

    (ii)  a receiver, custodian, sequestrator or similar official for the
          Holder or for any substantial part of its property shall be appointed
          or elected;

   (iii)  the Holder shall commence any winding-up or liquidation, voluntary or
          involuntary, of the Holder;

    (iv)  the Holder shall make a general assignment for the benefit of its
          creditors or become unable generally, or admit in writing its
          inability, to pay its debts as they become due; or

     (v)  the Holder shall take any corporate or similar action for the purpose
          of effecting any of the foregoing.

14.  Miscellaneous.  This Warrant contains the entire agreement between the
parties with respect to the matters set forth herein and may not be modified,
supplemented or amended except in a writing signed by both parties.  This
Warrant shall be governed by and construed in accordance with the laws of the
State of Delaware.

WITNESS the following signature effective as of the 20th day of December 1999.

RAMTRON INTERNATIONAL CORPORATION

By: /S/ L. David Sikes
   ---------------------------------
    L. David Sikes, Chairman and CEO

                                  Page-149
<PAGE>
                                 ANNEX A
                            SUBSCRIPTION FORM

To Be Executed if Holder Desires
To Exercise Warrant

The undersigned hereby exercises, according to the terms and conditions hereof,
all or part (as indicated below) of this Warrant and herewith makes payment of
the applicable Warrant Price in full.

Name(s) ------------------------------------

Address ------------------------------------

No. of Shares ------------------------------

Dated --------------------------------------

Signature(s) -------------------------------

---------------------------------
   Social Security Number or
Employer Identification Number

                                  Page-150
<PAGE>
                                 ANNEX B
                         CERTIFICATE OF TRANSFER

Ramtron International Corporation
1850 Ramtron Drive
Colorado Springs, Colorado  80921

Attention:  Chief Executive Officer

Date: -----------------------

Gentlemen:

With reference to the Warrant to Purchase Shares of Common Stock dated
-------------- (the "Warrant"), issued by Ramtron International Corporation
(the "Company") to --------------------------  (the "Holder"), representing as
of the date hereof the right to purchase, on the terms and subject to the
conditions herein set forth, --------------- shares of the Common Stock, par
value $0.01, of the Company (the "Warrant Shares"), the undersigned Holder
hereby transfers, conveys and assigns to ------------------------------,
subject to the terms and conditions of the Warrant, the right to purchase
---------------- of such Warrant Shares.  By this transfer, all rights of the
undersigned Holder with respect to such number of the Warrant Shares are
transferred to the transferee.

Enclosed herewith is the original Warrant so that the Company may issue in lieu
thereof (a) to the transferee, a new Warrant, of like tenor and effect
therewith, for the number of Warrant Shares with respect to which the
undersigned Holder's rights under the Warrant are hereby transferred, conveyed
and assigned, and (b) if the undersigned Holder has retained its rights under
the Warrant with respect to some portion of the Warrant Shares, a new Warrant,
of like tenor and effect therewith, for such number of the Warrant Shares.

---------------------------------------
              as Holder

By: -----------------------------------

Title: --------------------------------

                                  Page-151
<PAGE>THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), AND HAVE BEEN ACQUIRED FOR
INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR
DISTRIBUTION THEREOF.  NO SUCH SALE OR DISTRIBUTION MAY BE AFFECTED WITHOUT AN
EFFECTIVE REGISTRATION STATEMENT RELATING THERETO OR AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

                             Warrants to Purchase
                            Shares of Common Stock

                      RAMTRON INTERNATIONAL CORPORATION

              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

THE WARRANTS evidenced by this Warrant Certificate have been issued as of the
18th day of January, 2000, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged.

THIS CERTIFICATE evidences the right of L. David Sikes or his nominee
("Holder") to purchase, for the Exercise Price (as defined below), during the
Exercise Term (as defined below), 667,000 shares of Common Stock (the "Shares")
of Ramtron International Corporation, a Delaware corporation (the "Company"),
subject to the terms and conditions hereinafter set forth.

1.  Definitions.  As used in this Certificate:

(a)  "Aggregate Exercise Price" shall mean with respect to any exercise under
     this Warrant Certificate the Exercise Price multiplied by the number of
     shares of Common Stock as to which the Warrant Certificate is exercised,
     as set forth in the Subscription Agreement.

(b)  "Date of Issuance" shall mean the date set forth in the preamble of this
     Warrant Certificate.

(c)  "Employment Agreement" shall mean that certain employment agreement
     entered into between Holder and Company dated as of January 18, 2000.

(d)  "Exercise Price" shall mean Six Dollars and 87.5 Cents ($6.875) per Share.

(e)  "Exercise Term" shall mean the five (5) year period commencing on the
     first date that the Warrants, or any portion thereof, vest and become
     exercisable pursuant to Section 2(a) of this Warrant Certificate and
     ending on the date that is five years from the date of such vesting;
     provided, however, that in the event of termination of Holder's employment
     with the Company for any reason prior to December 31, 2001, any vested and
     exercisable warrants shall be exercisable only for a period of 90 days
     following the effective date of termination.

                                  Page-152
<PAGE>
(f)  "Registrable Shares" shall mean all Shares that may not be resold pursuant
     to Rule 144 under the Act as of the date on which the Company notifies
     Holder, in accordance with Section 7(a) of this Warrant Certificate, of
     its intent to file a registration statement.

(g)  "Subscription Agreement" shall mean the Subscription Agreement attached
     hereto as Exhibit A.

(h)  "Warrants" shall mean the rights evidenced by this Warrant Certificate.

2.  Exercise of Warrants.

(a)  Right to Exercise. These Warrants shall vest and become exercisable on
     December 31, 2002 if the Holder is employed by the Company at that date;
     provided, however, that, so long as Holder remains employed by the Company
     pursuant to the Employment Agreement, (i) all of the Warrants not
     previously vested shall vest and become immediately exercisable upon the
     occurrence of any of the following conditions and events on or before
     December 31, 2001:  (x) the Company or any subsidiary of the Company, or
     Company together with one or more of the Company's subsidiaries, sell
     securities in one or a series of transactions by either a public offering
     or private placement (including without limitation a placement or
     distribution of any subsidiary of the Company) for gross proceeds from
     such sales of at least Seventy Million Dollars ($70,000,000); or (y) a
     "change of control" (as hereinafter defined) of the Company occurs; or,
     (ii) if none of the circumstances described in (i) above has occurred, a
     portion of the Warrants, such portion to be determined as provided below,
     shall vest and become immediately exercisable upon the occurrence of any
     of the following conditions and events on or before December 31, 2001: (x)
     if more than fifty percent (50%) of the shares of any subsidiary of the
     Company is sold or transferred, a percentage of the total number of
     Warrants equal to the percentage that the value of such subsidiary or
     portion of such subsidiary transferred or sold bears to the total value of
     the Company on the date of such sale or transfer shall vest and become
     exercisable; (y) if any shares of any subsidiary of the Company are
     distributed to the Company's stockholders, a percentage of the total
     number of Warrants equal to the percentage that the value of such
     distributed shares bears to the value of all of the outstanding shares of
     the Company including such subsidiary on the date of such distribution
     shall vest and become exercisable; and (z) if more than ten percent (10%)
     of the Company's assets, whether tangible or intangible, is sold or
     transferred, a percentage of the total number of Warrants equal to the
     percentage that the value of such assets bears to the total value of all
     of the Company's assets on the date of such sale or transfer shall vest
     and become exercisable. Valuations of the Company and its subsidiaries for
     purposes of the foregoing provisions shall be as reasonably determined by
     the Company's Board of Directors.  For purposes of this Warrant
     Certificate, "change of control" means any of the following:  (i) Any
     "person," as such term is defined in Section 3(a)(9) and used in Section
     14(d)(2) of the Securities Exchange Act of 1934, as amended (the "Exchange
     Act"), who was not a beneficial owner (as defined in Rule 13(d)-3 under

                                  Page-153
<PAGE>
     the Exchange Act) on the date hereof, becomes the beneficial owner,
     directly or indirectly, of securities of the Company representing 40% or
     more of the combined voting power of the Company's then outstanding
     securities; or (ii) the shareholders or Company approve (A) a merger of
     the Company with or into any other corporation of which the Company is not
     the surviving corporation or in which the Company survives as a subsidiary
     of another corporation, (B) a consolidation of the Company with any other
     corporation, or (C) the sale or disposition of all or substantially all of
     the Company's assets or a plan of complete liquidation.

(b)  Method of Exercise.  The vested Warrants may be exercised by the Holder
     during the Exercise Term:

     (i)  Cash Exercise.  By the surrender of this Warrant Certificate at the
          principal office of the Company, along with the properly completed
          Subscription Agreement indicating the election of the Holder to
          effect a cash exercise, and the payment to the Company by certified
          or cashier's check of the Aggregate Exercise Price; or

    (ii)  Cashless Exercise.  By the surrender of this Warrant Certificate at
          the principal office of the Company, along with the properly
          completed Subscription Agreement indicating the election of the
          Holder to affect a cashless exercise pursuant to the provisions of
          this Section 2(b)(ii) ("Cashless Exercise").  Such surrender shall be
          deemed a waiver of the Holder's obligation to tender cash payment of
          the Aggregate Exercise Price.  In the event of a Cashless Exercise,
          in lieu of paying the Exercise Price in cash, the Holder shall
          exchange its Warrants for that number of shares of Common Stock
          determined by multiplying the number of shares of Common Stock of
          Company to which it would otherwise be entitled by a fraction, the
          numerator of which shall be the difference between the then current
          market price per share of the Common Stock and the Exercise Price,
          and the denominator of which shall be the then current market price
          per share of Common Stock.  For purposes of any computation under
          this Section 2(b)(ii), the then current market price per share of
          Common Stock at any date shall be deemed to be the closing sale price
          of the Common Stock for the trading day preceding the date of the
          Cashless Exercise as reported by the Nasdaq Stock Market ("Nasdaq")
          or, if no reported sale takes place on such day, the representative
          closing bid price of the Common Stock for such day as reported by
          Nasdaq.

(c)  Issuance of Share Certificate and/or New Warrant Certificate.  In the
     event of any exercise of the Warrants, certificates for the Shares so
     purchased shall be delivered to Holder within a reasonable time after the
     Warrants shall have been so exercised, and unless the Warrants have
     expired, a new certificate representing the right to purchase the number
     of Shares, if any, with respect to which this Warrant Certificate shall
     not then have been exercised shall also be issued to Holder within such
     time.  All such new warrant certificates shall be dated the date hereof
     and shall be identical to this Warrant Certificate except as to the number
     of Shares issuable pursuant thereto.  The Company shall pay all
     documentary, stamp or other transactional taxes (other than transfer
     taxes), if any, attributable to the issuance or delivery of shares of
     Common Stock of the Company upon exercise of the Warrants.

                                  Page-154
<PAGE>
(d)  Restrictions on Exercise.  The Warrants may not be exercised if the
     issuance of the Shares upon such exercise would constitute a violation of
     any applicable federal or state securities laws or other laws or
     regulations.  As a condition to the exercise of the Warrants, the Company
     may require Holder to make such representations and warranties to the
     Company as may be required by applicable law or regulation.

3.  Stock Fully Paid; Reservation of Shares.  The Company covenants and agrees
that all Shares will, upon issuance and payment in accordance herewith, be
fully paid, validly issued and nonassessable.  The Company further covenants
and agrees that during the Exercise Term the Company will at all times have
authorized and reserved for the purpose of the issue upon exercise of the
Warrants at least the maximum number of shares of the Company's Common Stock as
are issuable upon the exercise of the Warrants.

4.  Adjustment of Purchase Price and Number of Shares.  The number and kind of
securities purchasable upon the exercise of the Warrants and the Exercise Price
shall be subject to adjustment from time to time upon the happening of certain
events, as follows:

(a)  Consolidation, Merger or Reclassification.  If the Company at any time
     while the Warrants remain outstanding and unexpired shall consolidate with
     or merge into any other corporation, or sell all or substantially all of
     its assets to another corporation, or reclassify or in any manner change
     the securities then purchasable upon the exercise of the Warrants (any of
     which shall constitute a "Reorganization"), then lawful and adequate
     provision shall be made whereby this Warrant Certificate shall thereafter
     evidence the right to purchase such number and kind of securities and
     other property as would have been issuable or distributable on account of
     such Reorganization upon or with respect to the securities which were
     purchasable under the Warrants immediately prior to the Reorganization.
     The Company shall not effect any such Reorganization unless prior to or
     simultaneously with the consummation thereof the successor corporation (if
     other than the Company) resulting from such Reorganization shall assume by
     written instrument executed and mailed or delivered to Holder, at the last
     address of Holder appearing on the books of the Company, the obligation to
     deliver to Holder such shares of stock, securities or assets as, in
     accordance with the foregoing provisions, Holder may be entitled to
     purchase.

(b)  Subdivision or Combination of Shares.  If the Company at any time while
     the Warrants remain outstanding and unexpired shall subdivide or combine
     its Common Stock, the Exercise Price shall be adjusted to that price
     determined by multiplying the Exercise Price in effect immediately prior
     to such subdivision or combination by a fraction (i) the numerator of
     which shall be the total number of shares of Common Stock outstanding
     immediately prior to such subdivision or combination and (ii) the
     denominator of which shall be the total number of shares of Common Stock
     outstanding immediately after such subdivision or combination.

                                  Page-155
<PAGE>
(c)  Certain Dividends and Distributions.  If the Company at any time while the
     Warrants are outstanding and unexpired shall take a record of the holders
     of its Common Stock for the purpose of:

     (i)  Stock Dividends.  Entitling them to receive a dividend payable in, or
          other distribution without consideration of, Common Stock, then the
          Exercise Price shall be adjusted to that price determined by
          multiplying the Exercise Price in effect immediately prior to each
          dividend or distribution by a fraction (A) the numerator of which
          shall be the total number of shares of Common Stock outstanding
          immediately prior to such dividend or distribution, and (B) the
          denominator of which shall be the total number of shares of Common
          Stock outstanding immediately after such dividend or distribution; or

    (ii)  Distribution of Assets, Securities, etc.  Making any distribution
          without consideration with respect to its Common Stock (other than a
          cash dividend) payable otherwise than in its Common Stock, Holder
          shall, upon the exercise of the Warrants, be entitled to receive, in
          addition to the number of Shares receivable thereupon, and without
          payment of any additional consideration therefor, such assets or
          securities as would have been payable to him or her as owner of that
          number of Shares receivable by exercise of the Warrants had he or she
          been the holder of record of such Shares on the record date for such
          distribution, and an appropriate provision therefor shall be made a
          part of any such distribution.

(d)  Adjustment of Number of Shares.  Upon each adjustment in the Exercise
     Price pursuant to Subsections (b) or (c) (i) of this Section 4, the number
     of Shares purchasable hereunder shall be adjusted to that number
     determined by multiplying the number of such Shares purchasable upon the
     exercise of the Warrants immediately prior to such adjustment by a
     fraction, the numerator of which shall be the Exercise Price immediately
     prior to such adjustment and the denominator of which shall be the
     Exercise Price immediately following such adjustment.  Any determination
     that the Company or the Board of Directors must make pursuant to
     subsections (a), (b) or (c) of this Section 4 shall be final and
     conclusive.

(e)  Notice.  In case at any time:

     (i)  The Company shall pay any dividend payable in stock upon its Common
          Stock or make any distribution, excluding a cash dividend, to the
          holders of its Common Stock;

    (ii)  The Company shall offer for subscription pro rata to the holders of
          its Common Stock any additional shares of stock of any class or other
          rights;

   (iii)  There shall be any reclassification of the Common Stock of the
          Company, or consolidation or merger of the Company with, or sale of
          all or substantially all of its assets to, another corporation; or

                                  Page-156
<PAGE>
    (iv)  There shall be a voluntary or involuntary dissolution, liquidation or
          winding up of the Company;

then, in any one or more of such cases, the Company shall give to Holder at
least 10 days' prior written notice (or, in the event of notice pursuant to
Section 4(e)(iii), at least 30 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 or subscription rights or for determining rights to vote
in respect to any such reclassification, consolidation, merger, sale,
dissolution, liquidation or winding up.  Such notice in accordance with the
foregoing clause shall also specify, in the case of any such dividend,
distribution or subscription rights, the date on which the holders of Common
Stock shall be entitled thereto, and such notice in accordance with the
foregoing clause shall also specify the date on which the holders of Common
Stock shall be entitled to exchange their Common Stock for securities or other
property deliverable upon such reclassification, consolidation, merger, sale,
dissolution, liquidation or winding up, as the case may be.  Each such written
notice shall be given by first-class mail, postage prepaid, addressed to Holder
at the address of Holder as shown on the books of the Company.

(f)  No Change in Warrant Certificate.  The form of this Warrant Certificate
need not be changed because of any adjustment in the Exercise Price or in the
number of Shares purchasable on its exercise.  The Exercise Price or the number
of Shares shall be considered to have been so changed as of the close of
business on the date of adjustment.

5.  Fractional Shares.  No fractional Shares will be issued in connection with
any subscription hereunder but, in lieu of such fractional Shares, the Company
shall make a cash payment therefore upon the basis of the fair market value of
the Shares.

6.  Restrictions on Transfer.  The Warrants are restricted from sale, transfer,
assignment or hypothecation by operation of law.  The Warrants have not been
registered under the Act or any applicable state securities laws, and may not
be offered for sale, sold, transferred, pledged or hypothecated without an
effective registration statement under the Act and under any applicable state
securities law, or an opinion of counsel, satisfactory to the Company, that an
exemption from such registration is available.  By accepting this Warrant
Certificate, the Holder acknowledges his or her understanding that because the
Warrants are not registered, the Holder must hold the Warrants indefinitely
unless they are registered under the Act and any applicable state securities
laws or must obtain exemptions from registration.  In addition, by accepting
this Warrant Certificate, the Holder represents and warrants that the Holder is
acquiring the Warrants for his or her own account for investment and not with
the view to distribution, assignment, resale or other transfer of the Warrants.
Except as specifically stated herein, no other person has a direct or indirect
beneficial interest in the Warrants.

                                  Page-157
<PAGE>
7.  Registration Under Securities Act of 1933.

(a)  Piggyback Registration Rights.  The Company agrees that if, at any time
     and from time to time while the Holder holds the Warrants or any
     Registrable Shares, the Board of Directors of the Company shall authorize
     the filing of a registration statement under the Act (other than a
     registration statement on Form S-8, Form S-4 or any other form which does
     not include substantially the same information as would be required in a
     form for the general registration of securities such as the Shares
     purchasable hereunder), in connection with the proposed offer of any of
     its securities by it or any of its shareholders, the Company will (i)
     notify the Holder of the Warrants and/or the Registrable Shares that such
     registration statement will be filed and that the Registrable Shares which
     are then held, and/or may be acquired upon exercise of the Warrants by the
     Holder, will be included in such registration statement at the Holder's
     written request, (ii) cause such registration statement to cover all of
     such Registrable Shares which it has been so requested to include, and
     (iii) take all other action that the Company and its counsel deem
     necessary under any Federal or state law or regulation of any governmental
     authority to permit all such Registrable Shares which it has been so
     requested to include in such registration statement to be sold or
     otherwise disposed of, and will maintain such compliance with each such
     Federal and state law and regulation of any governmental authority for the
     period, not in excess of six months, necessary for the Holder to effect
     the proposed sale or other disposition; provided, however, that the
     Company shall have no obligation under this Section 7 to the extent that,
     with respect to a registration statement filed in connection with a public
     offering or private placement, the managing underwriter of such offering,
     or placement agent for such placement, determines that the Registrable
     Shares requested to be registered under this Section 7, or a portion
     thereof, should be excluded from such registration statement.

(b)  Prospectus Delivery and Qualification in Colorado.  Whenever the Company
     is required pursuant to the provisions of this Section 7 to include in a
     registration statement Registrable Shares held by Holder, the Company
     shall (i) furnish the Holder of any such Registrable Shares with copies of
     the prospectus conforming to the Act in order to facilitate the sale or
     distribution of such Registrable Shares, (ii) use its best efforts to
     register or qualify such Registrable Shares under the blue sky laws (to
     the extent applicable) of the State of Colorado, and (iii) take such other
     actions that the Company and its counsel deem necessary to consummate the
     sale or distribution of such Registrable Shares in the State of Colorado.

(c)  Expenses.  The Company shall pay all expenses incurred in connection with
     any registration statement or other action pursuant to the provisions of
     this Section 7, other than underwriting discounts and commissions,
     compliance with the blue-sky laws of any state other than Colorado,
     applicable transfer taxes, and fees and expenses of counsel to the Holder.

                                  Page-158
<PAGE>
8.  No Rights as Shareholder.  Holder, as holder of the Warrants, shall not be
entitled to vote or receive dividends or be considered a shareholder of the
Company for any purpose, nor shall anything in this Warrant Certificate be
construed to confer on Holder, as such, any rights of a shareholder of the
Company or any right to vote, give or withhold consent to any corporate action,
to receive notice of meetings of shareholders, to receive dividends or
subscription rights or otherwise.

9.  Notices.  All demands, notices, consents and other communications to be
given hereunder shall be in writing and shall be deemed duly given when
delivered personally or five days after being mailed by first class mail,
postage prepaid, properly addressed, if to the Company at Ramtron International
Corporation, 1850 Ramtron Drive, Colorado Springs Colorado 80921, or if to
Holder at the last address appearing on the records of the Company.  The
Company and Holder may change such address at any time or times by notice
hereunder to the other.

10.  Amendments; Waivers, Terminations, Governing Law; Headings.  The Warrants
and any term hereof may be changed, waived, discharged or terminated only by an
instrument in writing signed by the party against which enforcement of such
change, waiver, discharge or termination is sought.  The Warrants shall be
governed by and construed and interpreted in accordance with the laws of the
State of Delaware. The headings in this Warrant Certificate are for convenience
of reference only and are not part of the Warrants.

Dated as of January 18, 2000.

RAMTRON INTERNATIONAL CORPORATION

By:  /S/ Greg B. Jones
   ----------------------
Name:  Greg B. Jones
Title:  President and COO

Attest:

/S/ Kathy Bouard
-------------------------

RECEIPT ACKNOWLEDGED BY HOLDER:

/S/ L. David Sikes
-------------------------
L. David Sikes
Address:  69 Marland Place
          Colorado Springs, Colorado 80906

                                  Page-159
<PAGE>
                                    EXHIBIT A

RAMTRON INTERNATIONAL CORPORATION
1850 Ramtron Drive
Colorado Springs, Colorado 80921

Subscription Agreement for the Exercise of Warrants
(To be completed and signed only upon exercise of the Warrants)

The undersigned, the holder and registered owner of the attached Warrants,
hereby irrevocably and unconditionally elects to exercise such Warrants and
subscribes for the purchase of ---------* shares of Ramtron International
Corporation (the "Company") common stock (the "Common Stock") pursuant to and
in accordance with the terms and conditions of the Warrant Certificate attached
hereto, and

(1)  elects to effect a cash exercise and herewith tenders a check in the
amount of $-----------, or

(2)  by initialing the space that follows ----------, elects to effect a
Cashless Exercise and herewith tenders the requisite number of Warrants
pursuant to the Cashless Exercise provisions of the Warrants in Section
2(b)(ii) of the attached Warrant Certificate in exchange for the Common Stock
which should be delivered to the undersigned at the address stated below, and,
if said number of shares of Common Stock shall not be all of the Common Stock
purchasable hereunder, a new Warrant of like tenor for the balance of the
remaining Common Stock purchasable hereunder should be delivered to the
undersigned at the address stated below.

The undersigned agrees that:

(1)  the undersigned will not offer, sell, transfer or otherwise dispose of any
of the Common Stock unless either (a) a registration statement, or post-
effective amendment thereto, covering the Common Stock has been filed with the
Securities and Exchange Commission pursuant to the Securities Act of 1933, as
amended (the "Act"), such sale, transfer or other disposition is accompanied by
a prospectus meeting the requirements of Section 10 of the Act forming a part
of such registration statement, or post-effective amendment thereto, which is
in effect under the Act covering the Common Stock to be so sold, transferred or
otherwise disposed of, and all applicable state securities laws have been
complied with, or (b) the undersigned has delivered to the Company a written
opinion of counsel, addressed to the Company, which opinion is reasonably
acceptable to the Company and its counsel, that such proposed offer, sale,
transfer or other disposition of the Common Stock is exempt from the provisions
of Section 5 of the Act in view of the circumstances of such proposed offer,
sale, transfer or other disposition;

(2)  the Company may notify the transfer agent for Common Stock that the
certificates for the Common Stock acquired by the undersigned are not to be
transferred unless the transfer agent receives advice from the Company that one
or both of the conditions referred to in (1)(a) and (1)(b) above have been
satisfied; and

                                  Page-160
<PAGE>
(3)  the Company may affix the following legend to the certificates for the
Common Stock hereby subscribed for, if such legend is applicable:

THIS SECURITY HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "ACT"), OR THE SECURITIES OR BLUE SKY LAWS OF ANY STATE
AND MAY NOT BE OFFERED AND SOLD UNLESS REGISTERED AND/OR QUALIFIED PURSUANT TO
THE RELEVANT PROVISIONS OF FEDERAL AND STATE SECURITIES OR BLUE SKY LAWS OR AN
EXEMPTION FROM SUCH REGISTRATION OR QUALIFICATION IS APPLICABLE.  THEREFORE, NO
SALE OR TRANSFER OF THIS SECURITY SHALL BE MADE, NO ATTEMPTED SALE OR TRANSFER
SHALL BE VALID, AND THE ISSUER SHALL NOT BE REQUIRED TO GIVE ANY EFFECT TO ANY
SUCH TRANSACTION UNLESS (A) SUCH TRANSACTION SHALL HAVE BEEN DULY REGISTERED
UNDER THE ACT AND QUALIFIED OR APPROVED UNDER APPROPRIATE STATE OR BLUE SKY
LAWS, OR (B) THE ISSUER SHALL HAVE FIRST RECEIVED AN OPINION OF COUNSEL
SATISFACTORY TO IT THAT SUCH REGISTRATION, QUALIFICATION OR APPROVAL IS NOT
REQUIRED.

Dated: ---------------           Signed:  ----------------------------
                                 Name:  L. David Sikes

                                 Address:  ---------------------------
                                           ---------------------------

                                  Page-161
<PAGE>

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