Document:

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                                                                Exhibit 10(e)(5)
                              EMPLOYMENT AGREEMENT

        EMPLOYMENT AGREEMENT made as of the 26th day of December 2006, by and
between COVER-ALL TECHNOLOGIES INC., a Delaware corporation (the "COMPANY"),
having its principal office at 55 Lane Road, Fairfield, New Jersey 07004, and
JOHN ROBLIN, currently residing at 71 Spring Hill Road, Annandale, New Jersey
08801 (the "EXECUTIVE").

                             W I T N E S S E T H :

        WHEREAS, pursuant to an employment agreement, dated December 31, 2003,
the Executive has served as the Chairman of the Board, President and Chief
Executive Officer of the Company; and

        WHEREAS, the Company and the Executive desire that the Executive
continue to be employed by the Company as Chairman of the Board, President and
Chief Executive Officer of the Company on and after January 1, 2007 under the
terms of this Agreement, as provided herein.

        NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth herein, the parties agree as follows:

1.      EMPLOYMENT. The Company, effective as of January 1, 2007, hereby agrees
to continue to employ the Executive as Chairman of the Board, President and
Chief Executive Officer of the Company, and the Executive hereby accepts such
employment, all upon and subject to the terms and conditions hereinafter set
forth.

2.      TERM.

        (a)     The term of employment under this Agreement shall commence as of
January 1, 2007 (the "EFFECTIVE DATE") and shall continue in full force and
effect until December 31, 2007 (the "EMPLOYMENT TERM"), subject to earlier
termination as provided in Section 2(b) hereof.

        (b)     Notwithstanding the foregoing, each of the Executive and the
Company may, at their respective option, terminate the Executive's employment
hereunder at any time, with or without reason or cause, upon written notice to
the other party.

3.       DUTIES.

        (a)     The Executive will render his services to the Company as
Chairman of the Board, President and Chief Executive Officer and shall perform
such duties and services of such office or position. In addition, the Executive
will hold such other offices and directorships in the Company or any parent or
subsidiary of the Company to which, from time to time, he may be reasonably
appointed or elected.

        (b)     Except as otherwise provided herein and except for illness,
permitted vacation periods and permitted leaves of absence consistent with the
past practice of the

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Company or as otherwise approved by the Board, the Executive agrees that during
the term of his employment hereunder, he shall devote all of his full working
time and attention, and give his best effort, skill and abilities, exclusively
to the business and interests of the Company.

4.      COMPENSATION; BENEFITS.

        (a)     SALARY. In consideration of the services to be rendered by the
Executive hereunder, including, without limitation, any services rendered by him
as an officer or director of the Company or any parent, subsidiary or affiliate
of the Company, the Company agrees to pay to the Executive, and the Executive
agrees to accept as compensation, an annual salary (the "BASE SALARY") of
$300,000, payable in equal bi-weekly installments in accordance with the
Company's normal payroll policies. The Executive's Base Salary shall be subject
to all applicable withholding and other taxes.

        (b)     BONUS. In addition to the payment of the Base Salary, as
provided for hereunder, the Company shall pay the Executive a bonus based upon
the financial performance of the Company (the "PERFORMANCE BONUS") in an amount
equal to the product of the Performance Factor (as defined herein) and seventy
percent (70%) of the Executive's Base Salary as in effect at that time;
PROVIDED, HOWEVER, that if the amount of the Performance Bonus is in excess of
the amount of the Base Salary, then the Performance Bonus shall consist of (x) a
cash payment in an amount equal to the Base Salary (the "MAXIMUM CASH BONUS")
and (y) the grant of such number of shares of the Company's common stock, $.01
par value per share (the "COMMON STOCK") (pursuant to the Company's Amended and
Restated 2005 Stock Incentive Plan) determined by dividing (A) the difference
between the Performance Bonus and the Maximum Cash Bonus by (B) the price per
share of the Common Stock, based on the closing sales price of shares of the
Company's Common Stock on the last business day of such year.

For the purposes hereof:

        "PERFORMANCE FACTOR" shall mean the sum of (a) the Growth Factor (as
defined herein) and (b) the Profit Factor (as defined herein).

        "GROWTH FACTOR" shall mean the product of (a) the fraction, the
numerator of which shall be the actual revenues of the Company for such year,
and the denominator of which shall be the Targeted Revenues (as defined herein),
and (b) the Growth Weight (as defined herein).

        "PROFIT FACTOR" shall mean the product of (a) the fraction, the
numerator of which shall be the actual net income (before taxes and employee
bonuses) of the Company for such year, and the denominator of which shall be the
Targeted Net Income (as defined herein), and (b) the Profits Weight (as defined
herein).

        "TARGETED REVENUES" shall have the value set forth on SCHEDULE A hereto.

        "GROWTH WEIGHT" shall have the value set forth on SCHEDULE A hereto.

        "TARGETED NET INCOME" shall have the value set forth on SCHEDULE A
hereto.

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        "PROFITS WEIGHT" shall have the value set forth on SCHEDULE A hereto.

For the purposes hereof, each of revenues, net income and Performance Bonus
shall be determined by and set forth in a certificate of the Company's Chief
Financial Officer, and shall be based upon the books and records of the Company
and calculated in accordance with generally accepted accounting principles
consistently applied. Such certificate shall be final and binding on the parties
hereto. The Executive's Performance Bonus, if any, shall be paid as soon as
practicable after the date of the filing by the Company with the Securities and
Exchange Commission of its audited financial statements in its Form 10-K Annual
Report but in no event later than December 31st of the calendar year following
the fiscal year for which such bonus is computed.

        (c)     EQUITY INTERESTS. Upon the Effective Date, the Company shall
grant the Executive five-year options to purchase 500,000 shares (the "OPTIONS")
of the Company's Common Stock, granted at a price per share equal to the fair
market value of such share as of the date of grant, which will vest as to all
500,000 shares three years from the Effective Date, PROVIDED, HOWEVER, that
Options as to 250,000 shares shall immediately vest and become exercisable on
the first date following the Effective Date in which the Company enters into a
Qualifying Agreement (as defined below), and Options as to 250,000 shares shall
immediately vest and become exercisable on the second date following the
Effective Date in which the Company enters into a Qualifying Agreement, all in
accordance with and subject to the terms and conditions set forth in the
Company's Amended and Restated 2005 Stock Incentive Plan and a stock option
agreement by and between the Company and the Executive to be entered into
concurrently herewith. For the purposes hereof, "QUALIFYING AGREEMENT" shall
mean any fully executed customer agreement pursuant to which the Company is
entitled to receive at least $1,000,000 in license revenue or maintenance (for
the first year of such agreement) revenue.

        (d)     BENEFITS. During the Employment Term, the Executive shall be
entitled to the following benefits:

                (i)     Twenty (20) days of annual paid vacation time, in
accordance with the Company's policies; and

                (ii)    participation, subject to qualification and
participation requirements, in medical, life or other insurance or
hospitalization plans and any pension, profit sharing or other employee benefit
plans, presently in effect or hereafter instituted by the Company and applicable
to its officers and executive employees.

        (e)     COMPANY CAR. During the Employment Term, the Executive shall be
entitled to the continued use of the Company automobile currently provided to
the Executive for business purposes. In addition, the Company shall reimburse
the Executive, upon the presentation of appropriate receipts, for all
maintenance and repair costs incurred by the Executive in connection with the
use of such automobile.

        (f)     REIMBURSEMENT OF EXPENSES. The Executive shall be reimbursed for
reasonable and necessary expenses incurred by the Executive in performing his
employment

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hereunder, provided such expenses are adequately documented in accordance with
the Companies policies.

5.      PAYMENTS UPON TERMINATION AND SEVERANCE. If the employment of the
Executive is terminated for any reason, including upon the expiration of this
Agreement, the Company shall have no further obligations to the Executive
hereunder after the date of termination other than the payment or provision, as
applicable, to the Executive of (w) accrued and unpaid Base Salary and accrued
and unused vacation days, through the date of such termination, (x) the pro rata
portion of the bonus payment set forth in Section 4(b) hereof, based upon the
number of days the Executive was employed during the Company's fiscal year for
which such bonus is computed, to the extent the numerical requirements are
actually met for the fiscal year in question, which shall be payable at the same
time such bonus would have been paid under Section 4(b) hereof, (y) any
unreimbursed business expenses of the Executive that are otherwise reimbursable
hereunder, and (z) as severance, for a period of six months following such
termination, (i) the Base Salary payable in accordance with the Company's
payroll policies, and (ii) the benefits set forth in Sections 4(d) and 4(e)
hereof. This provision shall not preclude the Executive from claiming or
obtaining such disability benefits to which he may be entitled pursuant to any
plan maintained by the Company for disability incurred during the period of his
employment by the Company.

6.      OWNERSHIP OF INTELLECTUAL PROPERTY.

        (a)     The Executive recognizes and agrees that all copyrights,
trademarks or other intellectual property rights to created works arising in any
way from, or related to, the Executive's employment by the Company are the sole
and exclusive property of the Company, and Executive agrees to not assert any
rights to those works against the Company or any third-parties and agrees to
assist the Company in any way requested to procure or protect the Company's
rights to those works.

        b)      For purposes of this Section 6 and the following Section 7, the
term "Company" shall mean and include any and all subsidiaries, parents and
affiliated corporations or entities of the Company in existence from time to
time during the Employment Term.

7.      NON-DISCLOSURE OF CONFIDENTIAL INFORMATION AND NON-COMPETITION.

        (a)     The Executive represents that he has been informed that it is
the policy of the Company to maintain as secret and confidential all information
relating to (i) the computer software, products, processes and/or other
information proprietary to the Company and (ii) the customers and employees of
the Company ("CONFIDENTIAL INFORMATION"), and the Executive further acknowledges
that such Confidential Information is of great value to the Company and is the
property of the Company. The parties recognize that the services to be performed
by the Executive are special and unique, and that by reason of this employment
by the Company, he will acquire Confidential Information as aforesaid. The
parties confirm that to protect the Company's goodwill, it is reasonably
necessary that the Executive agree, and accordingly the Executive does hereby
agree, that he will not directly or indirectly (except where authorized by the
Board for the benefit of the Company):

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                        A.      at any time during his employment hereunder or
after he ceases to be employed by the Company, divulge to any persons, firms or
corporations other than the Company (hereinafter referred to collectively as
"THIRD Parties"), or use, or cause to authorize any Third Parties to use, any
such Confidential Information, except to the extent that any such Confidential
Information (i) is required to be disclosed by the Executive under any
applicable laws, regulations or directives of any government agency, tribunal or
authority having jurisdiction in the matter or under subpoena or other process
of law, (ii) becomes generally available to the public, other than as a result
of a breach by the Executive of this Section 7, or (iii) becomes available to
the Executive on a non-confidential basis from a source other than the Company,
or any of its affiliates or advisors; provided, that such source is not known by
the Executive to be bound by a confidentiality agreement with, or other
obligation of secrecy to, the Company or another party; or

                        B.      at any time during his employment hereunder and
for a period of six (6) months after he ceases to be employed by the Company
(the "RESTRICTED PERIOD"), solicit or cause or authorize, directly or
indirectly, to be solicited for employment, for or on behalf of himself or Third
Parties, any persons who were at any time within six (6) months prior to the
cessation of his employment hereunder, employees of the Company; PROVIDED,
HOWEVER, that this paragraph B shall not apply to or include persons who respond
to any general public advertisement or job posting; or

                        C.      at any time during his employment hereunder and
during the Restricted Period, employ or cause or authorize, directly or
indirectly, to be employed, for or on behalf of himself or Third Parties, any
such employees of the Company; PROVIDED, HOWEVER, that this paragraph C shall
not apply to or include persons who respond to any general public advertisement
or job posting; or

                        D.      at any time during his employment hereunder,
accept employment with or participate, directly or indirectly, as owner,
stockholder, director, officer, manager, consultant or agent or otherwise use
his special, unique or extraordinary skills or knowledge with respect to the
business of the Company or of any affiliate of the Company in or with any
business, firm, corporation, partnership, association, venture or other entity
or person which is engaged in the business of designing, developing or providing
software services to the property and casualty insurance industry, except that
this paragraph D shall not be construed to prohibit the Executive from owning up
to 5% of the securities of a corporation which are publicly traded on a national
securities exchange or in the over-the-counter market or from being employed by
an insurance or other company which may design and market software provided the
designing and marketing of software is not a predominant and principal part of
the business of such other company or concern; or

                        E.      at any time during his employment hereunder,
solicit or cause or authorize, directly or indirectly, to be solicited, for or
on behalf of himself or Third Parties, any business with respect to designing,
developing or providing software services to the property and casualty insurance
industry from Third Parties who were, at any time within six (6) months prior to
the cessation of his employment hereunder, customers of the Company for such
business; or

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                        F.      at any time during his employment hereunder,
accept or cause or authorize, directly or indirectly, to be accepted, for or on
behalf of himself or Third Parties, any such business from any customers of the
Company.

        (b)     The Executive agrees that he will not, at any time, remove from
the Company's premises any confidential Company drawings, notebooks, data and
other documents and materials relating to the business and procedures heretofore
or hereafter acquired, developed and/or used by the Company without prior
written consent of the Board, except as reasonably necessary to the discharge of
his duties hereunder.

        (c)     The Executive agrees that, upon the expiration of this
employment by the Company for any reason, he shall forthwith deliver up to the
Company any and all documents, books, manuals, lists, records, publications or
other materials which contains Confidential Information, whether in written,
electronic or other form, passwords, key, credit cards, equipment or other
articles that came into the Executive's possession or under his control in
connection with the Executive's employment by the Company and to maintain no
copies or duplicates without the prior written approval of the Board.

        (d)     The Executive agrees that any breach or threatened breach by him
of any provision of this Section 7 shall entitle the Company, in addition to any
other legal remedies available to it, to apply to any court of competent
jurisdiction to enjoin such breach or threatened breach. The parties understand
and intend that each restriction agreed to by the Executive hereinabove shall be
construed as separable and divisible from every other restriction, and that the
unenforceability, in whole or in part, of any other restriction, will not effect
the enforceability of the remaining restrictions and that one or more or all of
such restrictions may be enforced in whole or in part as the circumstances
warrant. No waiver of any one breach of the restrictions contained in this
Section 7 shall be deemed a waiver of any future breach.

        (e)     The Executive hereby acknowledges that he is fully cognizant of
the restrictions put upon him by this Section 7, and that the provisions of this
Section 7 shall survive the termination of this Agreement and his employment
with the Company.

8.      MUTUAL NON-DISPARAGEMENT. The Executive and the Company agree not to
make any statement, written or verbal, to any party reasonably likely to be
harmful to the other party or to be injurious to the goodwill, reputation or
business standing of the other party at any time in the future; PROVIDED,
HOWEVER, that this non-disparagement clause shall not preclude any party or his
or its agents or representatives from any good faith response to any inquiries
under oath or in response to governmental inquiry.

9.      MUTUAL RELEASE OF CLAIMS. The Executive and the Company agree to deliver
the Mutual Release in the form attached hereto as EXHIBIT A on or prior to the
date the Executive's employment is terminated pursuant to Section 5 hereof.

10.     LIFE INSURANCE. The Executive agrees that the Company may apply for and
purchase one or more life insurance policies on the life of the Executive in
such amount or amounts as the Company deems appropriate. The Company shall be
the sole beneficiary of such insurance policy or policies and the Executive
hereby acknowledges that the Company has an

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insurable interest in his life. The Executive agrees to cooperate with the
Company in obtaining any insurance on the life or on the disability of the
Executive which the Company may desire obtain for its own benefit and shall
undergo such physical and other examinations, and shall execute any consents or
applications, which the Company may reasonably request in connection with the
issuance of one or more of such insurance policies. The Company hereby agrees to
cancel such life insurance policy with respect to the Executive immediately upon
the termination of his employment hereunder.

11.     NOTICES. All notices, requests, demands or other communications
hereunder shall be deemed to have been given if delivered in writing personally
or by certified mail to each party at the address set forth below, or at such
other address as each party may designate in writing to the other:

                           If to the Company:

                           Cover-All Technologies Inc.
                           55 Lane Road
                           Fairfield, New Jersey 07004
                           Attention:  Chairman

                           With a copy to:

                           DLA Piper US LLP
                           1251 Avenue of the Americas
                           New York,  New York  10020
                           Attention:  David E. Weiss, Esq.

                           If to the Executive:

                           John Roblin
                           71 Spring Hill Road
                           Annandale, New Jersey 08801

12.     ENTIRE AGREEMENT. This Agreement contains the entire understanding of
the parties with respect to the subject matter hereof, supersedes any prior
agreement between the parties, and may not be changed or terminated orally. No
change, termination or attempted waiver of any of the provisions hereof shall be
binding unless in writing and signed by the party against whom the same is
sought to be enforced. No provision hereof shall be construed against a party
because that provision or any other provision was drafted by or at the direction
of such party.

13.     SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and shall
inure to the benefit of the respective heirs, legal representatives, successors
and assigns of the parties hereto.

14.     SEVERABILITY. In the event that any one or more of the provisions of
this Agreement shall be declared to be illegal or unenforceable under any law,
rule or regulation of

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any government having jurisdiction over the parties hereto, such illegality or
unenforceability shall not affect the validity and enforceability of the other
provisions of this Agreement.

15.     COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

16.     GOVERNING LAW. All matters concerning the validity and interpretation of
the performance under this Agreement shall be governed by the laws of the State
of New Jersey, whose courts or the federal courts located in the District of New
Jersey shall have exclusive jurisdiction over the parties to which they consent.

                            [signature page follows]

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        IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first above written.

                                  COVER-ALL TECHNOLOGIES INC.

                                  By:  /s/ Ann F. Massey
                                       -----------------------------------------
                                       Name:  Ann F. Massey
                                       Title: CFO

                                  /s/ John Roblin
                                  -----------------------------------------
                                  John Roblin

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                                    Exhibit A
                                    ---------

                                 MUTUAL RELEASE

        WHEREAS, John Roblin ("ROBLIN") was a party to an Employment Agreement
dated as of December 31, 2006 (the "Employment Agreement") by and between Roblin
and Cover-All Technologies Inc., a Delaware corporation (the "COMPANY" and,
together with Roblin, the "PARTIES");

        WHEREAS, Roblin and the Company are parties to that certain Convertible
Loan Agreement and related convertible debentures, dated as of June 28, 2001, as
amended (collectively, the "CONVERTIBLE DEBENTURES"); and

        WHEREAS, the Parties desire to resolve any potential disputes which
exist or may exist arising out of Roblin's employment with the Company and/or
termination thereof.

        NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company and Roblin agree as
follows:

        1.      Except with respect to Claims (as defined below) arising in
connection with the rights and obligations arising out of the Convertible
Debentures, the Company does hereby irrevocably release and forever discharge
Roblin and his heirs, executors, personal representatives, agents, successors
and assigns, to the full extent permitted by law, of and from any and all
actions, causes of action, suits, controversies, liabilities, obligations,
proceedings, claims, damages, costs and demands of every kind and nature, both
in law and in equity, whether known or unknown (collectively, "CLAIMS"), which
the Company now has, has had or may in the future have, for and on account of
any matter or thing, from the beginning of time to and including the date of
this Mutual Release.

        2.      Except with respect to Claims arising in connection with the
rights and obligations arising out of the Convertible Debentures, Roblin does
hereby irrevocably release and forever discharge the Company and its successors
and assigns, to the full extent permitted by law, of and from any and all Claims
which Roblin now has, has had or may in the future have, for and on account of
any matter or thing, from the beginning of time to and including the date of
this Mutual Release.

        3.      Except with respect to Claims arising in connection with the
rights and obligations arising out of the Convertible Debentures, this release
is intended by the Parties to be all encompassing and to act as a full and total
release of any Claims, whether specifically numerated herein or not, that the
Parties may have or have had against each other, including, but not limited to,
any claims arising from any federal or state law or regulation dealing with
either employment, employment benefits or employment discrimination such as
those laws or regulations concerning discrimination on the basis of race, color,
creed, religion, age, sex, sexual harassment, sexual orientation, national
origin, ancestry, handicap or disability, veteran status or any military service
or application for military service, including without limitation, the Age
Discrimination in Employment Act, as amended by the Older Workers Benefit
Protection Act

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("ADEA"), Title VII of the Civil Rights Act of 1964, as amended, the Americans
with Disabilities Act, the Family and Medical Leave Act and the Employee
Retirement Income Security Act; any contract, whether oral or written, express
or implied; any tort; any claim for equity or other benefits; or any other
statutory and/or common law claim.

        4.      Each Party hereby declares that it or he has carefully read,
reviewed and understood the terms of this Mutual Release and that it or he
voluntarily accepts the terms hereof with the purpose of making a full and final
compromise, adjustment and release of any and all Claims as provided herein.

        5.      Roblin represents and acknowledges as follows:

                (a)     That he has been and is hereby advised in writing to
consult with an attorney prior to signing this Release;

                (b)     That he does not waive rights or claims that may arise
after the date this Release is executed;

                (c)     That the Company has provided him with a period of
twenty one (21) days within which to consider this Release under the ADEA, and
that Roblin has signed on the date indicated below after concluding that this
Release is satisfactory to him; and

                (d)     That upon execution of this Release, the Company is
providing him with seven (7) additional days from such date of execution to
revoke his consent to the waiver of his rights under the ADEA, and if no such
revocation occurs, Roblin's waiver of rights under the ADEA shall become
effective seven days form the date Roblin executes this Release.

        6.      This Mutual Release shall be governed by the laws of the State
of New Jersey applicable to instruments executed and to be performed wholly
within that state.

        7.      This Mutual Release may be executed in one or more counterparts,
and in both original form or one or more photocopies, each of which shall be
deemed to be an original but all of which together shall be deemed to constitute
one and the same instrument.

        IN WITNESS WHEREOF, each of the parties hereto has executed this Mutual
Release this __ day of __________, 200_.

                                    COVER-ALL TECHNOLOGIES INC.

                                    By:
                                       -----------------------------------------
                                       Name:
                                       Title:

                                       -----------------------------------------
                                       JOHN ROBLINLoan and Security Agreement No. 3821

 Exhibit 10.12 
 AMENDMENT NO. 01 
 Dated April 30, 2004 
 TO 
 that certain Loan and Security Agreement
No. 3821 
 dated as of March 5, 2004, (“Agreement”), by and between  
 LIGHTHOUSE CAPITAL PARTNERS V, L.P. (“Lender”) and  
 HEMOSENSE, INC. (“Borrower”). 
 (All capitalized terms not otherwise defined
herein shall have the meanings given to such terms in the Agreement) 
 Without limiting or amending any other provisions of the Agreement, Lender and
Borrower agree to the following: 
 In Section 1, “Definitions” of the Agreement, the following definitions shall be deleted in
their entirety and replaced with the following: 
 “Commitment” means Seven Million Five Hundred Thousand Dollars
($7,500,000), provided, however, the amount available to Borrower shall be increased by an additional One Million Five Hundred Thousand Dollars ($1,500,000) (i) upon Borrower’s achieving the Additional Debt Milestones as
defined herein (the “Additional Commitment”) or (ii) at Lender’s sole discretion (in the absence of the Additional Debt Milestones). 
 “GAAP” means generally accepted accounting principles and practices consistent with those principles and practices promulgated or adopted by the Financial Accounting Standards Board and the Board of
the American Institute of Certified Public Accountants, their respective predecessors and successors. Each accounting term used but not otherwise expressly defined herein shall have the meaning given it by GAAP. 
 “Minimum Funding Amount” means One Million Dollars ($ 1,000,000), provided, however, in the case of the Additional
Commitment, “Minimum Funding Amount” means One Million Five Hundred Thousand Dollars ($1,500,000). 
 “Subordinated
Debt” means debt incurred by Borrower which is subordinated to Borrower’s Indebtedness owed to Lender both with respect to right of payment and any security interest, if applicable, granted to secure such Indebtedness, and which terms
of subordination are reflected in a written agreement in form and substance acceptable to and approved by Lender. 
 In Section 1,
“Definitions” of the Agreement, the following definitions shall be added: 
 “Additional Debt Milestones”
means Borrower shall have achieved all of the following: (i) Borrower shall have consummated an preferred stock equity financing with minimum gross proceeds to Borrower of at least Three Million Five Hundred Thousand Dollars ($3,500,000) from
one, or all of its existing investors and/or new investors; (ii) Borrower shall have net sales determined in accordance with GAAP in the 2004 calendar year of at least Seven Million Three Hundred Thirty-Eight Thousand Eight Hundred Fifty-Five
Dollars ($7,338,855); and (iii) Borrower shall not report a net loss determined in accordance with GAAP for calendar year 2004 of greater than Eight Million Eight Hundred Ninety Thousand Seven Hundred Thirty-Three Dollars ($8,890,733).

 “Additional Commitment Warrants” means the additional Warrants in favor of Lender and its affiliated fund, Lighthouse
Capital Partners IV, L.P. (“LCP-IV”) to purchase securities of Borrower substantially in the form of Exhibits B-3 and B-4. 

 In Section 1, “Definitions” of the Agreement, new clauses (h)-(j) shall be added to the
defined term of “Permitted Indebtedness” such that clauses (g)-(j) shall read in their entirety as follows: 
 “(g)
Guaranty obligations in favor of Silicon Valley Bank, not to exceed Twenty-Five Thousand Dollars ($25,000) in connection with a deposit account referred to in Section 7.10 for the purpose of securing a merchant banking account;

 (h) Subordinated Debt; 
 (i)
Indebtedness incurred by Borrower from a third party commercial lender in an amount equal to but not to exceed the Additional Commitment pursuant to Section 2.2(c) of this Agreement; and 
 (j) Extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (e) above, provided
that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon the Borrower.” 
 In
Section 2.2, “Use of Proceeds; The Advances” of the Agreement, the following new sub-section shall be added: 
 “(c) If
(i) the Additional Debt Milestones are not satisfied and (ii) Lender does not agree to provide the Additional Commitment, then Borrower may seek subordinated accounts receivable financing with another third party commercial lender,
provided, however, Lender shall have no obligation to release any of its Collateral in support of Borrower’s subordinated accounts receivable financing with such other lender; and provided further, however, that such third party lender shall
enter into an intercreditor or subordination agreement with Lender in form and substance satisfactory to Lender.” 
 Section 2.5(b),
“Non-Usage Fee” of the Agreement is hereby amended and restated in its entirety to read: 
 “(b) Non-Usage Fee. A Non-Usage Fee,
payable quarterly, equal to one percent (1%) of the average unfunded portion of the Commitment, measured on a per annum basis, which fee shall be due and payable on the first Business Day of the month following the end of such quarter,
commencing on March 5, 2004. Such Non-Usage Fee shall be fully earned and non-refundable.” 
 In Section 3, “Conditions of
Advances” of the Agreement, the following new sub-section shall be added: 
 Section 3.4 Conditions Precedent to Additional
Advance. The obligation of Lender to make the Advance under the Additional Commitment, is further subject to the following conditions: 
 (a) Evidence that no Default or Event of Default shall have occurred and be continuing. 
 (b) Borrower and Lender shall have executed a Notice of Borrowing with respect to the proposed Advance. 
 (c) Borrower shall have executed and delivered to Lender the Additional Commitment Warrants. 
 In Section 6,
“Affirmative Covanents” of the Agreement, the following new sub-section shall be added: 
 Section 6.14 Issuance of
Additional Commitment Warrants. Should the Additional Commitment become available to Borrower (i) upon Borrower’s achieving the Additional Commitment Milestones, or (ii) Lender making the Additional Commitment available to
Borrower in Lender’s sole discretion, and upon Borrower drawing upon the Additional Commitment, then Borrower shall be obligated to promptly execute and deliver the Additional Commitment Warrants in favor of Lender. 
  

 -2- 

 Section 7.10 shall hereby be amended in its entirety to read as follows: 
 “7.10 Deposit Accounts. Maintain any deposit accounts or accounts holding securities owned by Borrower except accounts with respect to which Lender has
obtained a perfected first priority security interest therein, provided, however, that Borrower shall be permitted to maintain an account at Silicon Valley Bank for the purposes of securing certain credit of the Borrower (the
“SVB CD”) and that Lender shall not receive any interest in the SVB CD pursuant to the terms of this Agreement” 
 Except as amended
hereby, the Agreement remains unmodified and unchanged. 
  

									
	BORROWER:	 		 	LENDER:
			
	HEMOSENSE, INC.	 		 	LIGHTHOUSE CAPITAL PARTNERS V, L.P.
					
	By:	 	/s/ James Merselis	 		 	By:	 	LIGHTHOUSE MANAGEMENT
	Name:	 	James Merselis	 		 		 	PARTNERS V, L.L.C., its general partner
	Title:	 	President & CEO	 		 		 	
					
		 		 		 	By:	 	/s/ Thomas Conneely
		 		 		 	Name:	 	Thomas Conneely
		 		 		 	Title:	 	Vice President

  

 -3- 

 EXHIBIT B-3 
 THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT’), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD OR TRANSFERRED UNLESS SUCH SALE OR
TRANSFER IS IN ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR SOME OTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS IS AVAILABLE WITH RESPECT THERETO. 
 PREFERRED STOCK PURCHASE WARRANT 
  

			
	Warrant No. ___________	 	Number of Shares: 47,468
		 	Series C-l Preferred Stock

 HEMOSENSE, INC. 
 Effective as of _________, 2005 
 Void after
__________, 2012 
 1. Issuance. This Preferred Stock Purchase Warrant (the “Warrant”) is issued to
LIGHTHOUSE CAPITAL PARTNERS V, L.P. by HEMOSENSE, INC., a Delaware corporation (hereinafter with its successors called the “Company”).

 2. Purchase Price; Number of Shares. The registered holder of this Warrant (the “Holder”), commencing on
the date hereof, is entitled upon surrender of this Warrant with the subscription form annexed hereto duly executed, at the principal office of the Company, to purchase from the Company, at a price per share of $1.58 (the “Purchase
Price”), 47,468 fully paid and nonassessable shares of the Company’s Series C-l Preferred Stock, $0.001 par value (the “Preferred Stock”). 
 Until such time as this Warrant is exercised in full or expires, the Purchase Price and the securities issuable upon exercise of this Warrant are subject to adjustment as hereinafter provided. The person or persons in
whose name or names any certificate representing shares of Preferred Stock is issued hereunder shall be deemed to have become the holder of record of the shares represented thereby as at the close of business on the date this Warrant is exercised
with respect to such shares, whether or not the transfer books of the Company shall be closed. 
 3. Payment of Purchase Price.
The Purchase Price may be paid (i) in cash or by check, (ii) by the surrender by the Holder to the Company of any promissory notes or other obligations issued by the Company, with all such notes and obligations so surrendered being
credited against the Purchase Price in an amount equal to the principal amount thereof plus accrued interest to the date of surrender, or (iii) by any combination of the foregoing. 
 4. Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of
Preferred Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion to the Company, with the net issue election notice annexed hereto duly executed, at the principal office of the Company.
Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Preferred Stock as is computed using the following formula: 
 X = Y(A-B) 
         A 
  

			
	where: X =	  	the number of shares of Preferred Stock to be issued to the Holder pursuant to this Section 4.
		
	Y =	  	the number of shares of Preferred Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.
		
	A =	  	the Fair Market Value (defined below) of one share of Preferred Stock, as determined at the time the net issue election is made pursuant to this Section 4.
		
	B =	  	the Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.

 “Fair Market Value” of a share of Preferred Stock (or fully paid and nonassessable
shares of the Company’s common stock, $0.001 par value (the “Common Stock”) if the Preferred Stock has been automatically converted into Common Stock) as of the date that the net issue election is made (the
“Determination Date”) shall mean: 
 (i) If the net issue election is made in connection with and
contingent upon the closing of the sale of the Company’s Common Stock to the public in a public offering pursuant to a Registration Statement under the 1933 Act (a “Public Offering”), and if the Company’s Registration
Statement relating to such Public Offering (“Registration Statement”) has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus with respect
to such offering multiplied by the number of shares of Common Stock into which each share of Preferred Stock is then convertible. 
 (ii) If the net issue election is not made in connection with and contingent upon a Public Offering, then as follows: 
 (a) If traded on a securities exchange or the Nasdaq National Market, the fair market value of the Common Stock shall be deemed to be the average of the closing or last reported sale prices of the Common Stock
on such exchange or market over the five day period ending five trading days prior to the Determination Date, and the fair market value of the Preferred Stock shall be deemed to be such fair market value of the Common Stock multiplied by the number
of shares of Common Stock into which each share of Preferred Stock is then convertible; 
 (b) If otherwise traded in
an over-the-counter market, the fair market value of the Common Stock shall be deemed to be the average of the closing ask prices of the Common Stock over the five day period ending five trading days prior to the Determination Date, and the fair
market value of the Preferred Stock shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares of Common Stock into which each share of Preferred Stock is then convertible; and 
 (c) If there is no public market for the Common Stock, then fair market value shall be determined in good faith by the
Company’s Board of Directors. 
 5. Partial Exercise. This Warrant may be exercised in part, and the Holder shall be
entitled to receive a new warrant, which shall be dated as of the date of this Warrant, covering the number of shares in respect of which this Warrant shall not have been exercised. 
 6. Fractional Shares. In no event shall any fractional share of Preferred Stock be issued upon any exercise of this Warrant. If, upon
exercise of this Warrant in its entirety, the Holder would, except as provided in this Section 6, be entitled to receive a fractional share of Preferred Stock, then the Company shall issue the next higher number of full shares of
Preferred Stock, issuing a full share with respect to such fractional share. 
 7. Expiration Date; Automatic Exercise. This
Warrant shall expire at the close of business on __________, 2012, and shall be void thereafter (the “Expiration Date”). Notwithstanding the foregoing, this Warrant shall automatically be deemed to be exercised in full pursuant to
the provisions of Section 4 hereof, without any further action on behalf of the Holder, immediately prior to the time this Warrant would otherwise expire pursuant to the preceding sentence. 
  

 -2- 

 8. Reserved Shares; Valid Issuance. The Company covenants that it will at all times from
and after the date hereof reserve and keep available such number of its authorized shares of Preferred Stock and Common Stock free from all preemptive or similar rights therein, as will be sufficient to permit, respectively, the exercise of this
Warrant in full and the conversion into shares of Common Stock of all shares of Preferred Stock receivable upon such exercise. The Company further covenants that such shares as may be issued pursuant to such exercise and/or conversion will, upon
issuance, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issuance thereof. 
 9. Stock Splits and Dividends. If after the date hereof the Company shall subdivide the Preferred Stock, by split-up or otherwise, or combine the Preferred Stock, or issue additional shares of Preferred Stock in payment of a
stock dividend on the Preferred Stock, the number of shares of Preferred Stock issuable on the exercise of this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock dividend, or proportionately decreased in the
case of a combination, and the Purchase Price shall forthwith be proportionately decreased in the case of a subdivision or stock dividend, or proportionately increased in the case of a combination. 
 10. Adjustments for Diluting Issuances. The other antidilution rights applicable to the Preferred Stock and the Common Stock of the Company
are set forth in the Amended and Restated Certificate of Incorporation, as amended from time to time (the “Articles”), a true and complete copy in its current form which is attached hereto as Exhibit A. Such
rights shall not be restated, amended or modified in any manner which affects the Holder differently than the holders of Series C-l Preferred without such Holder’s prior written consent. The Company shall promptly provide the Holder hereof
with any restatement, amendment or modification to the Articles promptly after the same has been made. 
 11. Mergers and
Reclassifications. If after the date hereof the Company shall enter into any Reorganization (as hereinafter defined), this Warrant shall expire and terminate effective as of the closing of such Reorganization. Notwithstanding the foregoing, in
the event that any outstanding warrants to purchase equity securities of the Company are assumed by the successor entity of a Merger (or parent thereof), this Warrant shall also be similarly assumed. Notwithstanding the foregoing, this Warrant shall
automatically be deemed to be exercised in full pursuant to the provisions of Section 4 hereof, without any further action on behalf of the Holder, immediately prior to the time this Warrant would otherwise expire pursuant to the
preceding sentence. For the purposes of this Section 11, the term “Reorganization” shall include without limitation any reclassification, capital reorganization or change of the Preferred Stock (other than as a result of
a subdivision, combination or stock dividend provided for in Section 9 hereof), or any consolidation of the Company with, or merger of the Company into, another corporation or other business organization (other than a merger in which the
Company is the surviving corporation and which does not result in any reclassification or change of the outstanding Preferred Stock), or any sale or conveyance to another corporation or other business organization of all or substantially all of the
assets of the Company. 
 12. Certificate of Adjustment. Whenever the Purchase Price is adjusted, as herein provided, the
Company shall promptly deliver to the Holder a certificate of the Company’s chief financial officer setting forth the Purchase Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. 

13. Notices of Record Date, Etc. In the event of: 
 (a) any taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders
thereof who are entitled to receive any dividend or other distribution, or any right to subscribe for, purchase, sell or otherwise acquire or dispose of any shares of stock of any class or any other securities or property, or to receive any other
right; 
 (b) any reclassification of the capital stock of the Company, capital reorganization of the Company,
consolidation or merger involving the Company (other than a merger in which the Company is the surviving corporation and which does not result in any reclassification or change of the outstanding Preferred Stock), or sale or conveyance of all or
substantially all of its assets; or 
  

 -3- 

 (c) any voluntary or involuntary dissolution, liquidation or winding-up of the
Company; then in each such event the Company will provide or cause to be provided to the Holder a written notice thereof. Such notice shall be provided at least twenty (20) business days prior to the date specified in such notice on which any
such action is to be taken. 
 14. Representations, Warranties and Covenants. This Warrant is issued and delivered by the
Company and accepted by each Holder on the basis of the following representations, warranties and covenants made by the Company: 
 (a) The Company has all necessary authority to issue, execute and deliver this Warrant and to perform its obligations hereunder. This Warrant has been duly authorized issued, executed and delivered by the Company and is the valid and
binding obligation of the Company, enforceable in accordance with its terms. 
 (b) The shares of Preferred Stock
issuable upon the exercise of this Warrant have been duly authorized and reserved for issuance by the Company and, when issued in accordance with the terms hereof, will be validly issued, fully paid and nonassessable. 
 (c) The issuance, execution and delivery of this Warrant do not, and the issuance of the shares of Preferred Stock upon the
exercise of this Warrant in accordance with the terms hereof will not, (i) violate or contravene the Company’s Articles or by-laws, or any law, statute, regulation, rule, judgment or order applicable to the Company, (ii) violate,
contravene or result in a breach or default under any contract, agreement or instrument to which the Company is a party or by which the Company or any of its assets are bound or (iii) require the consent or approval of or the filing of any
notice or registration with any person or entity. 
 (d) As long as this Warrant is, or any shares of Preferred Stock
issued upon exercise of this Warrant or any shares of Common Stock issued upon conversion of such shares of Preferred Stock are, issued and outstanding, the Company will provide to the Holder the financial and other information described in that
certain Loan and Security Agreement No. 3821 between the Company and Lighthouse Capital Partners V, L.P. dated as of March 5, 2004. 
 (e) As of the date hereof, the authorized capital stock of the Company consists of (i) 50,000,000 shares of Common Stock, of which 1,349,403 shares are issued and outstanding and 47,468 shares are reserved
for issuance upon the exercise of this Warrant with respect to Common Stock and the conversion of the Preferred Stock into Common Stock if this Warrant is exercised with respect to Preferred Stock, and (ii) 1,429,566 shares of Series A-l
Preferred Stock, of which 1,429,566 are issued and outstanding shares, (iii) 3,813,289 shares of Series B-l Preferred Stock, of which 3,813,289 are issued and outstanding shares, and (iv) 16,684,897 shares of Series C-l Preferred
Stock, of which 16,106,669 are issued and outstanding shares. Attached hereto as Exhibit B is a capitalization table summarizing the capitalization of the Company. At Holder’s request, not more than once per calendar quarter,
the Company will provide Holder with a current capitalization table indicating changes, if any, to the number of outstanding shares of common stock and preferred stock. 
 15. Registration Rights. The Company grants to the Holder, and the Holder accepts, all of the rights and obligations of a “Holder” and an “Investor” under the Company’s Investor
Rights Agreement dated as of May 21, 2003 (the “Rights Agreement”), including, without limitation, the registration rights contained therein, and agrees to amend the Rights Agreement so that (i) the shares of Common Stock
issuable upon conversion of the shares of Preferred Stock issuable upon exercise of this Warrant shall be “Registrable Securities,” and (ii) the Holder shall be a “Holder” and an “Investor” for all purposes
of such Rights Agreement. 
 16. Amendment. The terms of this Warrant may be amended, modified or waived only with the written
consent of the Holder. 
  

 -4- 

 17. Representations and Covenants of the Holder. This Warrant has been entered into by the
Company in reliance upon the following representations and covenants of the Holder, which by its execution hereof the Holder hereby confirms: 
 (a) Investment Purpose. The right to acquire Preferred Stock or the Preferred Stock issuable upon exercise of the Holder’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 Holder has no present intention of selling or engaging in any public distribution of the same except pursuant to a registration or exemption. 
 (b) Accredited Investor. Holder is an “accredited investor” within the meaning of the Securities and Exchange
Rule 501 of Regulation D, as presently in effect. 
 (c) Private Issue. The Holder understands
(i) that the Preferred Stock issuable upon exercise of the Holder’s rights contained herein is not registered under the 1933 Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this
Warrant 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 17. 
 (d) Financial Risk. The Holder has such knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of its investment and has the ability to bear the economic risks of its investment. 
 18. Notices,
Transfers, Etc. 
 (a) Any notice or written communication required or permitted to be given to the Holder may be
given by certified mail or delivered to the Holder at the address most recently provided by the Holder to the Company. 
 (b) Subject to compliance with applicable federal and state securities laws, this Warrant may be transferred by the Holder with respect to any or all of the shares purchasable hereunder. Upon surrender of this Warrant to the Company,
together with the assignment notice annexed hereto duly executed, for transfer of this Warrant as an entirety by the Holder, the Company shall issue a new warrant of the same denomination to the assignee. Upon surrender of this Warrant to the
Company, together with the assignment hereof properly endorsed, by the Holder for transfer with respect to a portion of the shares of Preferred Stock purchasable hereunder, the Company shall issue a new warrant to the assignee, in such denomination
as shall be requested by the Holder hereof, and shall issue to such Holder a new warrant covering the number of shares in respect of which this Warrant shall not have been transferred. 
 (c) In case this Warrant shall be mutilated, lost, stolen or destroyed, the Company shall issue a new warrant of like tenor and
denomination and deliver the same (i) in exchange and substitution for and upon surrender and cancellation of any mutilated Warrant, or (ii) in lieu of any Warrant lost, stolen or destroyed, upon receipt of an affidavit of the Holder or
other evidence reasonably satisfactory to the Company of the loss, theft or destruction of such Warrant 
 19. No Impairment.
The Company will not, by amendment of its Articles or through any reclassification, capital reorganization, consolidation, merger, sale or conveyance of assets, dissolution, liquidation, issue or sale of securities or any other voluntary action,
avoid or seek to avoid the observance of performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in
order to protect the rights of the Holder. 
 20. Governing Law. The provisions and terms of this Warrant shall be governed by
and construed in accordance with the internal laws of the State of California without giving effect to its principles regarding conflicts of laws. 
 21. Successors and Assigns. This Warrant shall be binding upon the Company’s successors and assigns and shall inure to the benefit of the Holder’s successors, legal representatives and permitted assigns. 

22. Business Days. If the last or appointed day for the taking of any action required or the expiration of any rights granted herein
shall be a Saturday or Sunday or a legal holiday in California, then such action may be taken or right may be exercised on the next succeeding day which is not a Saturday or Sunday or such a legal holiday. 
  

 -5- 

 23. Qualifying Public Offering. If the Company shall effect a firm commitment underwritten
public offering of shares of Common Stock which results in the conversion of the Preferred Stock into Common Stock pursuant to the Company’s Articles in effect immediately prior to such offering, then, effective upon such conversion, this
Warrant shall change from the right to purchase shares of Preferred Stock to the right to purchase shares of Common Stock, and the Holder shall thereupon have the right to purchase, at a total price equal to that payable upon the exercise of this
Warrant in full, the number of shares of Common Stock which would have been receivable by the Holder upon the exercise of this Warrant for shares of Preferred Stock immediately prior to such conversion of such shares of Preferred Stock into shares
of Common Stock, and in such event appropriate provisions shall be made with respect to the rights and interest of the Holder to the end that the provisions hereof (including, without limitation, the provisions for the adjustment of the Purchase
Price and of the number of shares purchasable upon exercise of this Warrant and the provisions relating to the net issue election) shall thereafter be applicable to any shares of Common Stock deliverable upon the exercise hereof. 
 24. Value. The Company and the Holder agree that the value of this Warrant on the date of grant is $50. 
  

			
	HEMOSENSE, INC.
		
	By:	 	  
		
	Name:	 	  
		
	Title:	 	  
		 	

  

 -6- 

 Subscription 
  

			
		
	To:	 	  
		
	Date:	 	  
		 	

 The undersigned hereby subscribes for _________________ shares of Preferred Stock covered by this Warrant. The
certificate(s) for such shares shall be issued in the name of the undersigned or as otherwise indicated below: 
  

	
	
	   
	Signature
	
	   
	Name for Registration
	
	   
	Mailing Address

 Net Issue Election Notice 
  

			
	To: _________________________________	 	Date: _________________

 The undersigned hereby elects under Section 4 to surrender the right to purchase shares of Preferred
Stock pursuant to this Warrant. The certificate(s) for such shares issuable upon such net issue election shall be issued in the name of the undersigned or as otherwise indicated below: 
  

	
	
	   
	Signature
	
	   
	Name for Registration
	
	   
	Mailing Address

 Assignment 
 For value received _________________________________________________________ hereby sells, assigns and transfers unto 
 ____________________________________________________________________________________________________ 
  
  

 [Please print or typewrite name and address of
Assignee] 
  

 the within Warrant, and
does hereby irrevocably constitute and appoint ____________________________________________ its attorney to transfer the within Warrant on the books of the within named Company with full power of substitution on the premises. 
  

			
		
	Dated:	 	  
		 	

	
	
	   
	Signature
	
	   
	Name for Registration
	
	In the Presence of:
	
	   

 EXHIBIT A 
 Amended and Restated Articles of Incorporation 
 See attached pages.

 EXHIBIT B 
 Capitalization Table 

 EXHIBIT B-4 
 THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD OR TRANSFERRED UNLESS SUCH SALE OR
TRANSFER IS IN ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR SOME OTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS IS AVAILABLE WITH RESPECT THERETO. 
 PREFERRED STOCK PURCHASE WARRANT 
  

			
	Warrant No. ___________	 	Number of Shares: 47,468
		 	Series C-l Preferred Stock

 HEMOSENSE, INC. 
 Effective as of _________, 2005 
 Void after
__________, 2012 
 1. Issuance. This Preferred Stock Purchase Warrant (the “Warrant”) is issued to
LIGHTHOUSE CAPITAL PARTNERS IV, L.P. by HEMOSENSE, INC., a Delaware corporation (hereinafter with its successors called the
“Company”). 
 2. Purchase Price; Number of Shares. The registered holder of this Warrant (the
“Holder”), commencing on the date hereof, is entitled upon surrender of this Warrant with the subscription form annexed hereto duly executed, at the principal office of the Company, to purchase from the Company, at a price per share
of $1.58 (the “Purchase Price”), 47,468 fully paid and nonassessable shares of the Company’s Series C-l Preferred Stock, $0.001 par value (the “Preferred Stock”). 
 Until such time as this Warrant is exercised in full or expires, the Purchase Price and the securities issuable upon exercise of this Warrant are subject to adjustment
as hereinafter provided. The person or persons in whose name or names any certificate representing shares of Preferred Stock is issued hereunder shall be deemed to have become the holder of record of the shares represented thereby as at the close of
business on the date this Warrant is exercised with respect to such shares, whether or not the transfer books of the Company shall be closed. 
 3. Payment of Purchase Price. The Purchase Price may be paid (i) in cash or by check, (ii) by the surrender by the Holder to the Company of any promissory notes or other obligations issued by the Company, with all
such notes and obligations so surrendered being credited against the Purchase Price in an amount equal to the principal amount thereof plus accrued interest to the date of surrender, or (iii) by any combination of the foregoing. 
 4. Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of
Preferred Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion to the Company, with the net issue election notice annexed hereto duly executed, at the principal office of the Company.
Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Preferred Stock as is computed using the following formula: 
 X = Y(A-B) 
         A 
  

			
	where: X =	  	the number of shares of Preferred Stock to be issued to the Holder pursuant to this Section 4.
		
	Y =	  	the number of shares of Preferred Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.
		
	A =	  	the Fair Market Value (defined below) of one share of Preferred Stock, as determined at the time the net issue election is made pursuant to this Section 4.
		
	B =	  	the Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.

 “Fair Market Value” of a share of Preferred Stock (or fully paid and nonassessable
shares of the Company’s common stock, $0.001 par value (the “Common Stock”) if the Preferred Stock has been automatically converted into Common Stock) as of the date that the net issue election is made (the
“Determination Date”) shall mean: 
 (i) If the net issue election is made in connection with and
contingent upon the closing of the sale of the Company’s Common Stock to the public in a public offering pursuant to a Registration Statement under the 1933 Act (a “Public Offering”), and if the Company’s Registration
Statement relating to such Public Offering (“Registration Statement”) has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus with respect
to such offering multiplied by the number of shares of Common Stock into which each share of Preferred Stock is then convertible. 
 (ii) If the net issue election is not made in connection with and contingent upon a Public Offering, then as follows: 
 (a) If traded on a securities exchange or the Nasdaq National Market, the fair market value of the Common Stock shall be deemed to be the average of the closing or last reported sale prices of the Common Stock
on such exchange or market over the five day period ending five trading days prior to the Determination Date, and the fair market value of the Preferred Stock shall be deemed to be such fair market value of the Common Stock multiplied by the number
of shares of Common Stock into which each share of Preferred Stock is then convertible; 
 (b) If otherwise traded in
an over-the-counter market, the fair market value of the Common Stock shall be deemed to be the average of the closing ask prices of the Common Stock over the five day period ending five trading days prior to the Determination Date, and the fair
market value of the Preferred Stock shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares of Common Stock into which each share of Preferred Stock is then convertible; and 
 (c) If there is no public market for the Common Stock, then fair market value shall be determined in good faith by the
Company’s Board of Directors. 
 5. Partial Exercise. This Warrant may be exercised in part, and the Holder shall be
entitled to receive a new warrant, which shall be dated as of the date of this Warrant, covering the number of shares in respect of which this Warrant shall not have been exercised. 
 6. Fractional Shares. In no event shall any fractional share of Preferred Stock be issued upon any exercise of this Warrant. If, upon
exercise of this Warrant in its entirety, the Holder would, except as provided in this Section 6, be entitled to receive a fractional share of Preferred Stock, then the Company shall issue the next higher number of full shares of
Preferred Stock, issuing a full share with respect to such fractional share. 
 7. Expiration Date; Automatic Exercise. This
Warrant shall expire at the close of business on __________, 2012, and shall be void thereafter (the “Expiration Date”). Notwithstanding the foregoing, this Warrant shall automatically be deemed to be exercised in full pursuant to
the provisions of Section 4 hereof, without any further action on behalf of the Holder, immediately prior to the time this Warrant would otherwise expire pursuant to the preceding sentence. 
  

 -2- 

 8. Reserved Shares; Valid Issuance. The Company covenants that it will at all times from
and after the date hereof reserve and keep available such number of its authorized shares of Preferred Stock and Common Stock free from all preemptive or similar rights therein, as will be sufficient to permit, respectively, the exercise of this
Warrant in full and the conversion into shares of Common Stock of all shares of Preferred Stock receivable upon such exercise. The Company further covenants that such shares as may be issued pursuant to such exercise and/or conversion will, upon
issuance, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issuance thereof. 
 9. Stock Splits and Dividends. If after the date hereof the Company shall subdivide the Preferred Stock, by split-up or otherwise, or combine the Preferred Stock, or issue additional shares of Preferred Stock in payment of a
stock dividend on the Preferred Stock, the number of shares of Preferred Stock issuable on the exercise of this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock dividend, or proportionately decreased in the
case of a combination, and the Purchase Price shall forthwith be proportionately decreased in the case of a subdivision or stock dividend, or proportionately increased in the case of a combination. 
 10. Adjustments for Diluting Issuances. The other antidilution rights applicable to the Preferred Stock and the Common Stock of the Company
are set forth in the Amended and Restated Certificate of Incorporation, as amended from time to time (the “Articles”), a true and complete copy in its current form which is attached hereto as Exhibit A. Such
rights shall not be restated, amended or modified in any manner which affects the Holder differently than the holders of Series C-l Preferred without such Holder’s prior written consent. The Company shall promptly provide the Holder hereof
with any restatement, amendment or modification to the Articles promptly after the same has been made. 
 11. Mergers and
Reclassifications. If after the date hereof the Company shall enter into any Reorganization (as hereinafter defined), this Warrant shall expire and terminate effective as of the closing of such Reorganization. Notwithstanding the foregoing, in
the event that any outstanding warrants to purchase equity securities of the Company are assumed by the successor entity of a Merger (or parent thereof), this Warrant shall also be similarly assumed. Notwithstanding the foregoing, this Warrant shall
automatically be deemed to be exercised in full pursuant to the provisions of Section 4 hereof, without any further action on behalf of the Holder, immediately prior to the time this Warrant would otherwise expire pursuant to the
preceding sentence. For the purposes of this Section 11, the term “Reorganization” shall include without limitation any reclassification, capital reorganization or change of the Preferred Stock (other than as a result of
a subdivision, combination or stock dividend provided for in Section 9 hereof), or any consolidation of the Company with, or merger of the Company into, another corporation or other business organization (other than a merger in which the
Company is the surviving corporation and which does not result in any reclassification or change of the outstanding Preferred Stock), or any sale or conveyance to another corporation or other business organization of all or substantially all of the
assets of the Company. 
 12. Certificate of Adjustment. Whenever the Purchase Price is adjusted, as herein provided, the Company
shall promptly deliver to the Holder a certificate of the Company’s chief financial officer setting forth the Purchase Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. 
 13. Notices of Record Date, Etc. In the event of: 
 (a) any taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders
thereof who are entitled to receive any dividend or other distribution, or any right to subscribe for, purchase, sell or otherwise acquire or dispose of any shares of stock of any class or any other securities or property, or to receive any other
right; 
 (b) any reclassification of the capital stock of the Company, capital reorganization of the Company,
consolidation or merger involving the Company (other than a merger in which the Company is the surviving corporation and which does not result in any reclassification or change of the outstanding Preferred Stock), or sale or conveyance of all or
substantially all of its assets; or 
  

 -3- 

 (c) any voluntary or involuntary dissolution, liquidation or winding-up of the
Company; then in each such event the Company will provide or cause to be provided to the Holder a written notice thereof. Such notice shall be provided at least twenty (20) business days prior to the date specified in such notice on which any
such action is to be taken. 
 14. Representations, Warranties and Covenants. This Warrant is issued and delivered by the
Company and accepted by each Holder on the basis of the following representations, warranties and covenants made by the Company: 
 (a) The Company has all necessary authority to issue, execute and deliver this Warrant and to perform its obligations hereunder. This Warrant has been duly authorized issued, executed and delivered by the Company and is the valid and
binding obligation of the Company, enforceable in accordance with its terms. 
 (b) The shares of Preferred Stock
issuable upon the exercise of this Warrant have been duly authorized and reserved for issuance by the Company and, when issued in accordance with the terms hereof, will be validly issued, fully paid and nonassessable. 
 (c) The issuance, execution and delivery of this Warrant do not, and the issuance of the shares of Preferred Stock upon the
exercise of this Warrant in accordance with the terms hereof will not, (i) violate or contravene the Company’s Articles or by-laws, or any law, statute, regulation, rule, judgment or order applicable to the Company, (ii) violate,
contravene or result in a breach or default under any contract, agreement or instrument to which the Company is a party or by which the Company or any of its assets are bound or (iii) require the consent or approval of or the filing of any
notice or registration with any person or entity. 
 (d) As long as this Warrant is, or any shares of Preferred Stock
issued upon exercise of this Warrant or any shares of Common Stock issued upon conversion of such shares of Preferred Stock are, issued and outstanding, the Company will provide to the Holder the financial and other information described in that
certain Loan and Security Agreement No. 3821 between the Company and Lighthouse Capital Partners V, L.P. dated as of March 5, 2004. 
 (e) As of the date hereof, the authorized capital stock of the Company consists of (i) 50,000,000 shares of Common Stock, of which 1,349,403 shares are issued and outstanding and 47,468 shares are reserved
for issuance upon the exercise of this Warrant with respect to Common Stock and the conversion of the Preferred Stock into Common Stock if this Warrant is exercised with respect to Preferred Stock, and (ii) 1,429,566 shares of Series A-l
Preferred Stock, of which 1,429,566 are issued and outstanding shares, (iii) 3,813,289 shares of Series B-l Preferred Stock, of which 3,813,289 are issued and outstanding shares, and (iv) 16,684,897 shares of Series C-l Preferred
Stock, of which 16,106,669 are issued and outstanding shares. Attached hereto as Exhibit B is a capitalization table summarizing the capitalization of the Company. At Holder’s request, not more than once per calendar quarter,
the Company will provide Holder with a current capitalization table indicating changes, if any, to the number of outstanding shares of common stock and preferred stock. 
 15. Registration Rights. The Company grants to the Holder, and the Holder accepts, all of the rights and obligations of a “Holder” and an “Investor” under the Company’s Investor
Rights Agreement dated as of May 21, 2003 (the “Rights Agreement”), including, without limitation, the registration rights contained therein, and agrees to amend the Rights Agreement so that (i) the shares of Common Stock
issuable upon conversion of the shares of Preferred Stock issuable upon exercise of this Warrant shall be “Registrable Securities,” and (ii) the Holder shall be a “Holder” and an “Investor” for all purposes
of such Rights Agreement. 
 16. Amendment. The terms of this Warrant may be amended, modified or waived only with the written
consent of the Holder. 
  

 -4- 

 17. Representations and Covenants of the Holder. This Warrant has been entered into by the
Company in reliance upon the following representations and covenants of the Holder, which by its execution hereof the Holder hereby confirms: 
 (a) Investment Purpose. The right to acquire Preferred Stock or the Preferred Stock issuable upon exercise of the Holder’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 Holder has no present intention of selling or engaging in any public distribution of the same except pursuant to a registration or exemption. 
 (b) Accredited Investor. Holder is an “accredited investor” within the meaning of the Securities and Exchange
Rule 501 of Regulation D, as presently in effect. 
 (c) Private Issue. The Holder understands
(i) that the Preferred Stock issuable upon exercise of the Holder’s rights contained herein is not registered under the 1933 Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this
Warrant 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 17. 
 (d) Financial Risk. The Holder has such knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of its investment and has the ability to bear the economic risks of its investment. 
 18. Notices,
Transfers, Etc. 
 (a) Any notice or written communication required or permitted to be given to the Holder may be
given by certified mail or delivered to the Holder at the address most recently provided by the Holder to the Company. 
 (b) Subject to compliance with applicable federal and state securities laws, this Warrant may be transferred by the Holder with respect to any or all of the shares purchasable hereunder. Upon surrender of this Warrant to the Company,
together with the assignment notice annexed hereto duly executed, for transfer of this Warrant as an entirety by the Holder, the Company shall issue a new warrant of the same denomination to the assignee. Upon surrender of this Warrant to the
Company, together with the assignment hereof properly endorsed, by the Holder for transfer with respect to a portion of the shares of Preferred Stock purchasable hereunder, the Company shall issue a new warrant to the assignee, in such denomination
as shall be requested by the Holder hereof, and shall issue to such Holder a new warrant covering the number of shares in respect of which this Warrant shall not have been transferred. 
 (c) In case this Warrant shall be mutilated, lost, stolen or destroyed, the Company shall issue a new warrant of like tenor and
denomination and deliver the same (i) in exchange and substitution for and upon surrender and cancellation of any mutilated Warrant, or (ii) in lieu of any Warrant lost, stolen or destroyed, upon receipt of an affidavit of the Holder or
other evidence reasonably satisfactory to the Company of the loss, theft or destruction of such Warrant 
 19. No Impairment.
The Company will not, by amendment of its Articles or through any reclassification, capital reorganization, consolidation, merger, sale or conveyance of assets, dissolution, liquidation, issue or sale of securities or any other voluntary action,
avoid or seek to avoid the observance of performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in
order to protect the rights of the Holder. 
 20. Governing Law. The provisions and terms of this Warrant shall be governed by
and construed in accordance with the internal laws of the State of California without giving effect to its principles regarding conflicts of laws. 
 21. Successors and Assigns. This Warrant shall be binding upon the Company’s successors and assigns and shall inure to the benefit of the Holder’s successors, legal representatives and permitted assigns. 

22. Business Days. If the last or appointed day for the taking of any action required or the expiration of any rights granted herein
shall be a Saturday or Sunday or a legal holiday in California, then such action may be taken or right may be exercised on the next succeeding day which is not a Saturday or Sunday or such a legal holiday. 
  

 -5- 

 23. Qualifying Public Offering. If the Company shall effect a firm commitment underwritten
public offering of shares of Common Stock which results in the conversion of the Preferred Stock into Common Stock pursuant to the Company’s Articles in effect immediately prior to such offering, then, effective upon such conversion, this
Warrant shall change from the right to purchase shares of Preferred Stock to the right to purchase shares of Common Stock, and the Holder shall thereupon have the right to purchase, at a total price equal to that payable upon the exercise of this
Warrant in full, the number of shares of Common Stock which would have been receivable by the Holder upon the exercise of this Warrant for shares of Preferred Stock immediately prior to such conversion of such shares of Preferred Stock into shares
of Common Stock, and in such event appropriate provisions shall be made with respect to the rights and interest of the Holder to the end that the provisions hereof (including, without limitation, the provisions for the adjustment of the Purchase
Price and of the number of shares purchasable upon exercise of this Warrant and the provisions relating to the net issue election) shall thereafter be applicable to any shares of Common Stock deliverable upon the exercise hereof. 
 24. Value. The Company and the Holder agree that the value of this Warrant on the date of grant is $50. 
  

			
	HEMOSENSE, INC.
		
	By:	 	  
		
	Name:	 	  
		
	Title:	 	  
		 	

  

 -6- 

 Subscription 
  

			
		
	To:	 	  
		
	Date:	 	  
		 	

 The undersigned hereby subscribes for _________________ shares of Preferred Stock covered by this Warrant. The
certificate(s) for such shares shall be issued in the name of the undersigned or as otherwise indicated below: 
  

	
	
	   
	Signature
	
	   
	Name for Registration
	
	   
	Mailing Address

 Net Issue Election Notice 
  

			
	To: _________________________________	 	Date: _________________

 The undersigned hereby elects under Section 4 to surrender the right to purchase shares of Preferred
Stock pursuant to this Warrant. The certificate(s) for such shares issuable upon such net issue election shall be issued in the name of the undersigned or as otherwise indicated below: 
  

	
	
	   
	Signature
	
	   
	Name for Registration
	
	   
	Mailing Address

 Assignment 
 For value received _________________________________________________ hereby sells, assigns and transfers unto 
 ______________________________________________________________________________________________________ 
  
  

 [Please print or typewrite name and address of
Assignee] 
  

 the within Warrant, and
does hereby irrevocably constitute and appoint ________________________________________ 
 its attorney to transfer the within Warrant on the books of the
within named Company with full power of substitution on the premises. 
  

			
		
	Dated:	 	  
		 	

	
	
	   
	Signature
	
	   
	Name for Registration
	
	In the Presence of:
	
	   

 EXHIBIT A 
 Amended and Restated Articles of Incorporation 
 See attached pages.

 EXHIBIT B 
 Capitalization Table

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