Document:

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                                                                    Exhibit 10.2

                            INVESTOR RIGHTS AGREEMENT

     This Investor Rights Agreement (the "AGREEMENT") is made as of May 31,
2007, by and among Third Wave Japan, Inc., a Japanese corporation (the
"COMPANY"), Third Wave Technologies, Inc., a Delaware corporation (the
"PARENT"), and the entities listed on Exhibit A attached hereto (each, an
"INVESTOR," and collectively, the "INVESTORS").

                                    RECITALS

     A. WHEREAS: The Parent and some of the Investors entered into an Investors
Rights Agreement dated April 21, 2006 (the "Original IRA").

     B. WHEREAS: Some of the Investors have purchased from the Company shares of
its Series A Preferred Stock, pursuant to the Series A Preferred Stock Purchase
Agreement between the Company and the Investors, dated March 31, 2006 (the
"SERIES A PURCHASE AGREEMENT").

     C. WHEREAS: The Investors intend to purchase from the Company shares of its
Series A Preferred Stock, pursuant to the Series A Preferred Stock Purchase
Agreement between the Company and the Investors, dated of even date herewith
(the "SERIES A PURCHASE AGREEMENT NO.2").

     D. WHEREAS: In consideration for the Investors' investments in the Company,
the Investors, the Company and the Parent have agreed to enter into this
Agreement and to terminate the Original IRA upon the execution of this
Agreement.

     NOW, THEREFORE, in consideration of the mutual promises herein contained,
and other consideration, the receipt and adequacy of which hereby is
acknowledged, the parties hereto agree as follows:

                                    SECTION 1

                               CERTAIN DEFINITIONS

     For purposes of this Agreement, the following terms have the following
meanings:

     1.1 "AFFILIATE" means any business entity which controls, is controlled by
or is under common control of a party and, for the purposes of this definition,
a business entity shall be deemed to "control" another business entity if it
owns, directly or indirectly, at least twenty percent (20%) of the shares of
such business entity or any other comparable equity or ownership interest with
respect to a business entity other than a corporation.;

     1.2 "CHANGE OF CONTROL" means (i) a merger or consolidation of the Company
or Parent, as the case may be, or other transaction where the Company's
shareholders or the Parent's stockholders, as the case may be, immediately
before the transaction do not hold more than fifty percent (50%) of the
outstanding voting shares of the surviving entity after such transaction, or
(ii) a sale, lease, transfer

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or other disposition of all or substantially all of the assets of the Company or
the Parent, as the case may be.

     1.3 "ELIGIBLE INVESTORS" shall mean the Shareholders other than the Seller.

     1.4 "CO-SALE SHARE" means, as to each Eligible Investor's Right of Co-Sale,
the percentage determined by dividing (i) the number of shares of Stock held by
the Eligible Investor by (ii) the number of shares of Stock held by the Seller
and all Eligible Investors participating in the Right of Co-Sale pursuant to
Section 6 hereof.

     1.5 "NEW SECURITIES" shall have the meaning in Section 3.2.

     1.6 "PREEMPTIVE RIGHT" means the preemptive right provided to the
Shareholders in Section 3 of this Agreement.

     1.7 "QUALIFIED IPO" means the Company's sale of its common stock in a bona
fide, firm commitment underwriting pursuant to a registration statement filed
with the Japanese Financial Services Agency, with aggregate proceeds to the
Company of at least Y1,000,000,000 and a per share price to the public of at
least two times the price paid by the Investors for the Company's Series A
Preferred Stock under the Series A Purchase Agreement No. 2.

     1.8 "RIGHT OF CO-SALE" means the right of co-sale provided to the Eligible
Investors in Section 6 of this Agreement.

     1.9 "RIGHT OF FIRST REFUSAL" means the right of first refusal provided to
the Company and the Eligible Investors in Section 5 of this Agreement.

     1.10 "SERIES A PREFERRED STOCK" means the Company's Series A Preferred
Stock.

     1.11 "SERIES A PURCHASE AGREEMENT" and "SERIES A PURCHASE AGREEMENT NO.2"
shall have the meaning in the Recitals.

     1.12 "SELLER" means the Parent or any Investor proposing to Transfer Stock.

     1.13 "SHAREHOLDERS" means the Parent and the Investors.

     1.14 "STOCK" means and includes all common stock and preferred stock of the
Company.

     1.15 "TRANSFER" means and includes any sale, assignment, encumbrance,
hypothecation, pledge, conveyance in trust, gift or other transfer or
disposition of any kind, including but not limited to transfers to receivers,
levying creditors, trustees or receivers in bankruptcy proceedings or general
assignees for the benefit of creditors, whether voluntary or by operation of
law, directly or indirectly, except:

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          (a) any transfers by the Parent in connection with a Change of Control
of the Parent;

          (b) any transfers by any Shareholder to its Affiliate other than
transfers between TWJ and TWT;

          (c) any bona fide gift, provided that the Seller shall inform the
Eligible Investors of such gift prior to effecting it and provided that the
pledgee, transferee or donee or other recipient executes a counterpart copy of
this Agreement and becomes bound thereby as was the Seller;

          (d) by operation of law; or

          (e) any transfer to the Company or an Eligible Investor pursuant to
the terms of this Agreement.

     1.16 "BUSINESS DAY" means any day from Monday to Friday, except for the
holidays on which commercial banking institutions in either Japan or the State
of Wisconsin in the US are authorized or obligated by law to be closed.

                                    SECTION 2

                        INFORMATION AND INSPECTION RIGHTS

     2.1 INFORMATION RIGHTS. So long as at least fifty percent (50%) of the
Series A Preferred Stock remains outstanding and the Investors continue to own
at least fifty percent (50%) of the shares of such Series A Preferred Stock (or
shares of common stock issued upon conversion of the Series A Preferred Stock)
held by the Investors as of the date of this Agreement, the Company will furnish
the following reports to any Investor that owns at least sixteen percent (16%)
of the then issued and outstanding Series A Preferred Stock:

          (a) within one hundred twenty (120) days after the end of each fiscal
year of the Company, a consolidated balance sheet of the Company and its
subsidiaries, if any, as at the end of such fiscal year, and consolidated
statements of income and cash flows of the Company and its subsidiaries, if any,
for such year, prepared in accordance with generally accepted accounting
principles in Japan consistently applied, certified by independent public
accountants of recognized national standing selected by the Company.

          (b) within forty-five (45) days after the end of the first, second,
and third quarterly accounting periods in each fiscal year of the Company, an
unaudited consolidated balance sheet of the Company and its subsidiaries, if
any, as of the end of each such quarterly period, and unaudited consolidated
statements of income and cash flows of the Company and its subsidiaries, if any,
for such period.

          (c) within fifteen (15) days after the end of each month, an unaudited
consolidated balance sheet of the Company and its subsidiaries, if any, as of
the end of such monthly period, and consolidated statements of income and cash
flows of the Company and its subsidiaries, if any, for such period.

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          (d) within forty-five (45) days after the end of each fiscal quarter,
an up-to-date capitalization table, including the names of each shareholder and
option or warrant holder and the number of shares, options or warrants held by
each such holder, certified by the management member chiefly responsible for the
finances of the Company.

          (e) at least thirty (30) days prior to the beginning of each fiscal
year, an operating plan for such fiscal year, including consolidated capital and
operating expense budgets, cash flow projections and income and loss projections
for the Company and its subsidiaries in respect of such fiscal year, all
itemized in reasonable detail and prepared on a monthly basis, and, promptly
after preparation, any revisions to any of the foregoing.

     2.2 INSPECTION RIGHTS. So long as at least fifty percent (50%) of the
Series A Preferred Stock remains outstanding and the Investors continue to own
at least fifty percent (50%) of the shares of such Series A Preferred Stock (or
shares of common stock issued upon conversion of the Series A Preferred Stock)
held by the Investors as of the date of this Agreement, the Company will afford
to each Investor that owns at least sixteen percent (16%) of the then issued and
outstanding Series A Preferred Stock, and to each such Investor's accountants
and counsel, reasonable access during normal business hours and with reasonable
advance notification, to all of the Company's respective properties, books and
records. Each such Investor shall have such other reasonable access, with
reasonable advance notification, to management and information as is necessary
for it to comply with applicable laws and regulations and reporting obligations.
The Company shall not be required to disclose details of contracts with or work
performed for specific customers and other business partners where to do so
would violate confidentiality obligations to those parties. The Investors may
exercise their rights under this Section 2.2 only for purposes reasonably
related to their interests under this Agreement and related agreements. The
rights granted pursuant to this Section 2.2 may not be assigned or otherwise
conveyed by the Investors or by any subsequent transferee of any such rights
without the prior written consent of the Company.

     2.3 CONFIDENTIALITY. Anything in Section 2 to the contrary notwithstanding,
no Investor by reason of this Agreement shall have access to any trade secrets
or confidential information of the Company. Each Investor hereby agrees to hold
in the strictest confidence and trust, and to take reasonable precautions to
prevent the unauthorized use or disclosure of, any confidential information
provided pursuant to this Agreement. The Company shall not be required to comply
with any obligation under this Section 2 in respect of any Investor whom the
Company reasonably determines to be a competitor or an officer, employee,
director or holder of more than ten percent (10%) of the stock of a competitor.

     2.4 TERMINATION OF INFORMATION AND INSPECTION RIGHTS. Each Investor's
information and inspection rights set forth in this Section 2 shall terminate in
accordance with Section 10.1 hereof.

                                    SECTION 3

                                PREEMPTIVE RIGHTS

     3.1 PREEMPTIVE RIGHTS TO SHAREHOLDERS. The Company hereby grants to the
Shareholders, the preemptive right to purchase a pro rata share of New
Securities (as defined in

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Section 3.2) which the Company may, from time to time, propose to sell and issue
(the "PREEMPTIVE RIGHT"). A Shareholder's pro rata share, for purposes of the
Preemptive Right, is the ratio of the number of shares of common stock owned by
such Shareholder immediately prior to the issuance of New Securities, assuming
full conversion of the Shares and exercise of any option or warrant held by said
Shareholder, to the total number of shares of common stock outstanding
immediately prior to the issuance of New Securities, assuming full conversion of
the Shares and exercise of all outstanding convertible securities, rights,
options and warrants to acquire common stock of the Company. Each Shareholder
shall have a right of over-allotment such that if any Shareholder fails to
exercise its right hereunder to purchase its pro rata share of New Securities,
the other Shareholders may purchase the non-purchasing Shareholder's portion on
a pro rata basis within ten (10) Business Days from the Purchase Deadline (as
defined below).

     3.2 NEW SECURITIES. "NEW SECURITIES" shall mean any capital stock
(including common stock and/or preferred stock) of the Company whether now
authorized or not, and securities of any type whatsoever that are, or may
become, convertible into capital stock; provided that the term "New Securities"
does not include:

          (a) securities purchased under the Series A Purchase Agreement or
Series A Purchase Agreement No.2;

          (b) shares of common stock issued or issuable upon conversion of
shares of preferred stock;

          (c) shares of common stock issued or issuable upon exercise of any
warrants prior to the date of this Agreement;

          (d) shares of common stock issued or issuable (including securities
convertible into or exercisable for common stock) to officers, directors and
employees of, or consultants to, the Company pursuant to stock grants, option
plans, purchase plans or other stock incentive programs or similar arrangements
approved by the Board of Directors of the Company, or upon exercise of options
or warrants granted to such parties pursuant to any such plan or arrangement;

          (e) shares of common stock issued upon the exercise or conversion of
options or convertible securities of the Company outstanding as of the date of
this Agreement, as amended, or that are subsequently issued pursuant to the
carve-outs of Sections 3.2(a)-(j) hereof, as amended;

          (f) shares of common stock issued or issuable (including securities
convertible into or exercisable for common stock) as a dividend or distribution
on preferred stock, or pursuant to any event for which adjustment is made to the
number of shares of common stock outstanding, including, without limitation, a
stock split, stock dividend, subdivision of shares of common stock or other
similar transaction, or pursuant to any other event for which adjustment is made
pursuant to the Articles of Incorporation of the Company (the "ARTICLES");

          (g) shares of common stock issued in a registered public offering
under the Securities and Exchange Law, as amended, pursuant to which all
outstanding shares of preferred stock are automatically converted into common
stock;

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          (h) shares of common stock issued or issuable (including securities
convertible into or exercisable for common stock) pursuant to the acquisition of
another entity by the Company by merger, purchase of equity, purchase of
substantially all of the assets, or other reorganization, or pursuant to a joint
venture agreement, provided, that such issuances are approved by the Board of
Directors of the Company;

          (i) shares of common stock issued or issuable (including securities
convertible into or exercisable for common stock) to lenders, service providers,
equipment lessors or other financial institutions pursuant to a commercial
leasing, debt financing, service or consulting transaction, each as approved by
the Board of Directors of the Company; and

          (j) shares of common stock issued or issuable (including securities
convertible into or exercisable for common stock) in connection with sponsored
research, collaboration, license, development, OEM, marketing, acquisition, or
other similar agreements or strategic transactions approved by the Board of
Directors of the Company.

     3.3 NOTICE OF EXERCISE. In the event the Company proposes to undertake an
issuance of New Securities, it shall give each Shareholder written notice of its
intention, describing the type of New Securities, and their price and the
general terms upon which the Company proposes to issue the same. Each
Shareholder shall have ten (10) Business Days after any such notice is mailed or
delivered (the "PURCHASE DEADLINE") to agree to purchase such Shareholder's pro
rata share of such New Securities for the price and upon the terms specified in
the notice by giving written notice to the Company and stating therein the
quantity of New Securities to be purchased.

     3.4 FAILURE TO EXERCISE. In the event the Shareholders fail to exercise
fully their Preemptive Rights within said ten (10) Business Day period and after
the expiration of the additional ten (10) Business Day period for the exercise
of the over-allotment provisions of Section 3.1, the Company shall have ninety
(90) days thereafter to sell or enter into an agreement (pursuant to which the
sale of New Securities covered thereby shall be closed, if at all, within ninety
(90) days from the date of said agreement) to sell the New Securities respecting
which the Shareholders' Preemptive Rights set forth in Section 3.1 were not
exercised, at a price and upon terms no more favorable to the purchasers thereof
than specified in the Company's notice to Shareholders pursuant to Section 3.3.
In the event the Company has not sold the New Securities within such ninety (90)
day period, the Company shall not thereafter issue or sell any New Securities,
without first again offering such securities to the Shareholders in the manner
provided in Section 3.1 above.

     3.5 ASSIGNMENT OF PREEMPTIVE RIGHT. The Preemptive Right may not be
assigned or transferred, except that (i) such right is assignable by each
Shareholder to the Affiliates of any such Shareholder, and (ii) such right is
assignable between and among any of the Shareholders.

     3.6 INAPPLICABILITY AND TERMINATION OF PREEMPTIVE RIGHT. The Preemptive
Right shall not be applicable to the Company's Qualified IPO, and shall
terminate in accordance with Section 10.1 hereof.

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                                    SECTION 4

                            RESTRICTIONS ON TRANSFER

     4.1 GENERAL. Before a Seller may Transfer any Stock, securities convertible
into Stock, or Stock issued upon conversion of any securities held by the Seller
as of the date hereof (as adjusted for any stock dividends, stock splits,
recapitalizations and the like), the Company or its assignee(s) and the Eligible
Investors shall have a Right of First Refusal to purchase such Stock on the
terms and conditions set forth herein.

     4.2 NOTICE OF PROPOSED TRANSFER. Prior to the Seller Transferring any
Stock, the Seller shall deliver to the Company and the Eligible Investors a
written notice (the "TRANSFER NOTICE") stating: (i) the Seller's bona fide
intention to sell or otherwise Transfer such Stock (the "OFFERED SHARES"); (ii)
the name, address and phone number of each proposed purchaser or other
transferee ("PROPOSED TRANSFEREE"); (iii) the aggregate number of Offered Shares
to be Transferred to each Proposed Transferee; (iv) the bona fide cash price or
other consideration for which the Seller proposes to Transfer the Offered Shares
(the "OFFERED PRICE"); (v) each Eligible Investor's right to exercise either its
Right of First Refusal or its Right of Co-Sale (but not both rights) with
respect to the Offered Shares; and (vi) a deadline, consistent with the terms of
this Agreement, within which the Company and Eligible Investors must exercise
such rights.

                                    SECTION 5

                             RIGHT OF FIRST REFUSAL

     5.1 TRANSFER OF SHARES TO THE COMPANY. The Company may elect itself as the
transferee of the Offered Shares, provided that the Company shall purchase all
but not less than all of the Offered Shares and shall give written notice of
such election to the Seller within fifteen (15) Business Days after the date on
which the Transfer Notice is, pursuant to Section 11.1 hereof, deemed to have
been delivered to the Company and the Eligible Investors (the "INITIAL REFUSAL
PERIOD").

     5.2 INITIAL EXERCISE BY THE ELIGIBLE INVESTORS. Subject to the limitations
of this Section 5.2, the Eligible Investors and their Affiliates appointed by
the Eligible Investors shall have the Right of First Refusal to purchase all or
any part of the Offered Shares should the Company not elect itself as the
transferee of the Offered Shares pursuant to Section 5.1 hereof; provided that
each Eligible Investor so electing gives written notice of the exercise of such
right to the Seller within the Initial Refusal Period. Upon the earlier to occur
of (a) the termination of the Initial Refusal Period and (b) the time when the
Seller has received written confirmation from the Company regarding its exercise
of its Right First Refusal, the Eligible Investors' Rights of First Refusal
shall expire. To the extent that the Company elects not to purchase the Offered
Shares, the Company shall allocate the Offered Shares to the Eligible Investors,
and shall give written notice thereof to the Seller within the Initial Refusal
Period. To the extent that the aggregate number of shares that the Eligible
Investors desire to purchase exceeds the number of Offered Shares, each Eligible
Investor will be entitled to purchase a fraction of the Offered Shares, the
numerator of which shall be the number of shares of common stock (assuming
conversion of all securities then outstanding that are convertible into common
stock) owned by such Eligible Investor on the date of the Transfer Notice and
the denominator of which shall be the number

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of shares of Stock held by all Eligible Investors exercising their Right of
First Refusal. Within five (5) Business Days after the expiration of the Initial
Refusal Period (the "CONFIRMATION PERIOD"), the Seller will give written notice
to the Company and each Eligible Investor specifying the number of Offered
Shares that was subscribed by the Company or the Eligible Investors exercising
their Rights of First Refusal, as the case may be (the "CONFIRMATION NOTICE").
The Confirmation Notice shall specify the number of Offered Shares to be
purchased by the Company or those Eligible Investors who are exercising their
Rights of First Refusal. If the Company does not elect itself as the transferee
of the Offered Shares, the Confirmation Notice shall also specify the number of
Offered Shares not purchased, if any, and list each Participating Investor's (as
defined in Section 5.3 hereof) share of the Offered Shares. This Right of First
Refusal shall not apply with respect to Offered Shares sold by the Investors
under the Right of Co-Sale.

     5.3 SUBSEQUENT EXERCISE BY THE ELIGIBLE INVESTORS. Each Eligible Investor
electing to exercise its Right of First Refusal to purchase at least its full
pro rata share of the Offered Shares under Section 5.2 hereof (a "PARTICIPATING
INVESTOR") shall have a right of reallotment such that if, after the Eligible
Investors exercise their respective Rights of First Refusal, there remain any
Offered Shares that are not purchased by the Eligible Investors within the
Initial Refusal Period, then each such Participating Investor may elect to
purchase all (or any portion of) such Participating Investor's pro rata share of
the Offered Shares not previously purchased. For the purpose of the preceding
sentence, each Participating Investor's pro rata share shall be a fraction of
the Offered Shares not previously purchased, the numerator of which shall be the
number of shares of common stock (assuming conversion of all securities then
outstanding that are convertible into common stock) owned by such Participating
Investor on the date of the Transfer Notice and the denominator of which shall
be the total number of shares of common stock (assuming conversion of all
securities then outstanding that are convertible into common stock) held by all
Participating Investors on the date of the Transfer Notice. Each Eligible
Investor exercising its right pursuant to this Section 5.3 shall do so by giving
written notice to the Seller within seven (7) Business Days after delivery of
the Confirmation Notice to such Eligible Investor pursuant to Section 11.1 (the
"SUBSEQUENT REFUSAL PERIOD").

     5.4 PURCHASE PRICE. The purchase price for the Offered Shares to be
purchased by the Company or by an Eligible Investor exercising its Right of
First Refusal under this Agreement will be the Offered Price, and will be
payable as set forth in Section 5.5 hereof. If the Offered Price includes
consideration other than cash, the cash equivalent value of the non-cash
consideration will be determined by the Board of Directors of the Company in
good faith, which determination will be binding upon the Company, each Eligible
Investor and the Seller, absent fraud or error.

     5.5 PAYMENT. Payment of the purchase price for the Offered Shares purchased
by the Company or by an Eligible Investor exercising its Right of First Refusal
will be made within ten (10) Business Days after the later of (i) the end of the
Confirmation Notice Period, or (ii) where applicable, the end of the Subsequent
Refusal Period. Payment of the purchase price will be made, at the option of the
Company or the exercising Eligible Investor, (i) in cash (by check), (ii) by
cancellation of all or a portion of any outstanding indebtedness of the Seller
to the Company or the Eligible Investor, as the case may be, or (iii) by any
combination of the foregoing.

     5.6 RIGHTS AS A SHAREHOLDER. If the Company or any Eligible Investor
exercises its Right of First Refusal to purchase the Offered Shares, then, upon
the date that the notice of such exercise by

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the Company or any Eligible Investor is deemed delivered to the Seller pursuant
to Section 11.1 hereof, the Seller will have no further rights as a holder of
the Offered Shares except the right to receive payment for the Offered Shares
from the Company or the Eligible Investor(s), as the case may be, in accordance
with the terms of this Agreement, and the Seller will forthwith cause all
certificate(s) evidencing such Offered Shares, properly endorsed for Transfer,
to be surrendered for Transfer to the Company or the Eligible Investor, as the
case may be.

     5.7 SELLER'S RIGHT TO TRANSFER. If the Company and each Eligible Investor
have not elected to purchase all or any portion of the Offered Shares, then,
with respect to such portion of Offered Shares (the "TRANSFERABLE PORTION"), the
Right of First Refusal shall not apply to such Transfer, and the Seller may
Transfer the Transferable Portion to any Proposed Transferee, at the Offered
Price or at a higher price; provided that such Transfer shall still be subject
to the Investors' Right of Co-Sale as defined in Section 6 hereof; provided
further that such Transfer (i) is consummated within ten (10) Business Days
after the end of the Subsequent Refusal Period, (ii) is on terms no more
favorable than the terms proposed in the Transfer Notice and (iii) is in
accordance with all the terms of this Agreement. If the Offered Shares are not
so Transferred during such ten (10) Business Day period, then the Seller may not
Transfer any of such Offered Shares without complying again in full with the
provisions of this Agreement.

                                    SECTION 6

                                RIGHT OF CO-SALE

     6.1 EXERCISE BY THE ELIGIBLE INVESTORS. To the extent that the Company and
the Eligible Investors do not exercise their respective Rights of First Refusal
with respect to the Offered Shares pursuant to Section 5 hereof, then each
Eligible Investor who has not exercised its Right of First Refusal in Section 5
(a "CO-SALE ELIGIBLE INVESTOR") shall have the right to participate in such sale
of Offered Shares on the same terms and conditions as specified in the Transfer
Notice, up to its Co-Sale Share, by notifying the Seller in writing within ten
(10) Business Days after the later of (1) delivery of the Confirmation Notice,
or (2) the end of the Subsequent Refusal Period, as applicable (the "INITIAL
CO-SALE PERIOD"); provided, however, that no Co-Sale Eligible Investor shall
have a Co-Sale Right in connection with any transfer set forth in Section 1.15
(a) to (e). The Co-Sale Eligible Investor shall indicate the number of shares of
Stock it then holds that it wishes to sell pursuant to this Section 6.1 (the
"SELLING INVESTOR SHARES"). To the extent that one or more of the Co-Sale
Eligible Investors exercises their Rights of Co-Sale as described in this
Section 6.1 (a "SELLING INVESTOR" for purposes of this Section 6), the number of
Offered Shares that the Seller may sell in the Transfer shall be correspondingly
reduced. If, after the end of the Initial Co-Sale Period, any Co-Sale Eligible
Investors decline to participate in sales under this Section 6, then, within
five (5) Business Days after the Initial Co-Sale Period, the Seller will notify
the Selling Investors of the extent to which other Co-Sale Eligible Investors
declined to exercise their Co-Sale Right (the "CO-SALE NOTICE"). The Selling
Investors shall within ten (10) Business Days after delivery of the Co-Sale
Notice (the "SUBSEQUENT CO-SALE PERIOD") notify the Seller of the additional
Selling Investor Shares that such Selling Investor wishes to sell. If the
aggregate amount of Selling Investor Shares proposed to be sold by Selling
Investors under this Subsequent Co-Sale Period exceeds the number of Offered
Shares stated in the Co-Sale Notice, the number of Selling Investor Shares that
each Selling Investor may sell under this Subsequent Co-Sale Period shall be
reduced pro rata according to each Selling Investor's Co-Sale

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Share. The sale of the Offered Shares and the Selling Investor Shares shall
occur within twenty-five (25) Business Days from the beginning of the Initial
Co-Sale Period (the "CLOSING"). This Right of Co-Sale shall not apply with
respect to Offered Shares sold or to be sold to Eligible Investors or the
Company under the Right of First Refusal.

     6.2 CONSUMMATION OF CO-SALE. A Selling Investor may exercise the Right of
Co-Sale by delivering to the Seller at or before the Closing, one or more
certificates, properly endorsed for Transfer, representing a number of Selling
Investor Shares not to exceed the number of shares of Stock to which Selling
Investor is entitled in Section 6.1, representing such Selling Investor Shares
to be Transferred by the Seller on behalf of the Selling Investor. If the
Selling Investor does not hold a certificate in that series, class or type of
stock representing the number of Selling Investor Shares to be sold by such
Selling Investor pursuant to this Section 6, then the Company shall promptly
issue a certificate representing the proper number of Selling Investor Shares to
be sold pursuant to this Right of Co-Sale. Following the Closing, the Company
shall deliver a certificate for the remaining balance of the Stock held by the
Selling Investor and not sold pursuant to this Section 6, if any, to such
Selling Investor. At the Closing, such certificates or other instruments will be
Transferred and delivered to the Transferee as set forth in the Transfer Notice
in consummation of the Transfer of the Offered Shares pursuant to the terms and
conditions specified in the Transfer Notice, and the Seller will remit, or will
cause to be remitted, to each Selling Investor, within ten (10) days after such
Closing, that portion of the proceeds of the Transfer to which each Selling
Investor is entitled by reason of each Selling Investor's participation in such
Transfer pursuant to the Right of Co-Sale.

     6.3 MULTIPLE SERIES, CLASS OR TYPE OF STOCK. If the Offered Shares consist
of more than one series, class or type of Stock, the Seller has the right to
Transfer hereunder each such series, class or type; provided that if, as to the
Right of Co-Sale, a Selling Investor does not hold any of such series, class or
type, and the Proposed Transferee is not willing, at the Closing, to purchase
some other series, class or type of Stock from such Selling Investor, or is
unwilling to purchase any Stock from such Selling Investor at the Closing, then
such Selling Investor will have the put right set forth in Section 6.4(b)
hereof.

     6.4 REFUSAL TO TRANSFER: PUT RIGHT.

          (a) Refusal to Transfer. Any attempt by any Seller to Transfer any
Stock in violation of any provision of this Agreement will be void. The Company
will not be required (i) to transfer on its books any Stock that has been sold,
gifted or otherwise Transferred in violation of this Agreement, or (ii) to treat
as owner of such Stock, or to accord the right to vote or pay dividends to any
purchaser, donee or other transferee to whom such Stock may have been so
Transferred.

          (b) Put Right. If a Seller Transfers any Stock in contravention of the
Investors' Right of Co-Sale under this Agreement (a "PROHIBITED TRANSFER"), or
if the Proposed Transferee of Offered Shares desires to purchase a class, series
or type of Stock offered by the Seller but not held by an Investor or the
Proposed Transferee is unwilling to purchase any Stock from an Investor, such
Investor may, by delivery of written notice to such Seller (a "PUT NOTICE")
within ten (10) Business Days after the later of (i) the Closing, or (ii) the
date on which such Investor becomes aware of the Prohibited Transfer or the
terms thereof, require such Seller to purchase from such Investor, for cash or
such other consideration as the Seller received in the Prohibited Transfer or at
the Closing, a number of Selling

                                       10

<PAGE>

Investor Shares (of the same class or type as Transferred in the Prohibited
Transfer or at the Closing if such Investor then owns Stock of such class or
type; otherwise of preferred stock or common stock) having a purchase price
equal to the aggregate purchase price that the Investor would have received in
the closing of such Prohibited Transfer if such Investor had elected to exercise
its Right of Co-Sale with respect thereto or in the Closing if the Proposed
Transferee had been willing to purchase the Selling Investor Shares of the
Investor. The closing of such sale to the Seller will occur within ten (10) days
after the date of such Investor's Put Notice to such Seller.

                                    SECTION 7

                   RESTRICTIVE LEGEND AND STOP TRANSFER ORDERS

     7.1 TRANSFERS. No securities shall be Transferred unless (i) such Transfer
is made with the prior written consent of the Company's Board of Directors,
which consent shall not be unreasonably withheld, and (ii) prior to such
Transfer, the transferee or transferees sign a counterpart to this Agreement
pursuant to which it or they agree to be bound by the terms of this Agreement.
The Company shall not be required (a) to transfer on its books any shares that
shall have been sold or Transferred in violation of any of the provisions of
this Agreement or (b) to treat as the owner of such shares or to accord the
right to vote as such owner or to pay dividends to any transferee to whom such
shares shall have been so Transferred.

     7.2 LEGENDS. The Shareholders understand and agree that the Company will
cause the legends set forth below, or legends substantially equivalent thereto,
to be placed upon any certificate(s) or other documents or instruments
evidencing ownership of Stock by the Shareholders:

     "ANY TRANSFER OR SALE OF THE SHARES REPRESENTED HEREBY IS SUBJECT TO
     APPROVAL BY THE BOARD OF DIRECTORS OF THE COMPANY."

     "THE SHARES EVIDENCED HEREBY ARE SUBJECT TO AN INVESTOR RIGHTS AGREEMENT (A
     COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY) AND BY ACCEPTING ANY
     INTEREST IN SUCH SHARES THE PERSON HOLDING SUCH INTEREST SHALL BE DEEMED TO
     AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SAID INVESTOR
     RIGHTS AGREEMENT."

     7.3 STOP TRANSFER INSTRUCTIONS. In order to ensure compliance with the
restrictions referred to herein, each Seller agrees that the Company may issue
appropriate "stop transfer" certificates or instructions and that, if the
Company Transfers its own securities, it may make appropriate notations to the
same effect in its records.

                                       11

<PAGE>

                                    SECTION 8

                   OPTIONS UPON A CHANGE OF CONTROL OF PARENT

     8.1 CALL OPTION.

          a. Exercise by Parent. During the time period commencing on the
effective date of a Change of Control of the Parent and terminating at the end
of the ninetieth (90th ) day thereafter (the "Option Termination Date"), the
Parent shall be entitled, at its option, to require the Investors to sell all
(but not less than all) of their shares of Stock (the "Called Stock") to the
Parent or its designee (which may be the Company) (the "Call Option"). The
Parent may exercise the Call Option by delivery of written notice (the "Call
Notice") to the Investors at any time after the public announcement of the
Change of Control of the Parent and before fifteen (15) days prior to the Option
Termination Date, provided that, the Call Option may only be consummated on or
after the effective date of such Change of Control and provided further that the
Call Notice shall be delivered to the Investors at least fifteen (15) days prior
to the date determined by Parent (or its designee) for consummation of the Call
Option, during which fifteen (15) day period the Investors may discuss with the
Parent the advisability of consummating the Call Option; provided, however, that
after such fifteen (15) day period, Parent (or its designee) may consummate the
Call Option and purchase the Called Stock, in its sole discretion. In the event
of a Change of Control of Parent, Parent shall use its commercially reasonable
efforts to give Investors notification, including the name of the acquirer, of
such event immediately following the public announcement of such event,
regardless of whether Parent (or its designee) provides notice of exercise of
the Call Option at such time.

          b. Purchase Price. The price to be paid by the Parent or its designee
for the Called Stock (the "Call Price") shall be the Fair Value (as defined
below) of the Called Stock on the date of delivery of the Call Notice to the
Investors. "Fair Value" shall be determined by good faith negotiation between
the Parent and the Investors. If such negotiation fails to determine the Fair
Value within thirty (30) days after delivery of the Call Notice, the Parent and
the Investors will select an appraiser to determine the Fair Value of the Called
Stock. If the parties cannot agree on an appraiser, each will select an
appraiser, who will then select a third appraiser and that third appraiser shall
determine the Fair Value of the Called Stock; provided, however, the Fair Value
of the Called Stock in this circumstance will be an amount at least equal to a
fourteen percent (14%) internal rate of return for the Investors and no greater
than a twenty-five percent (25%) internal rate of return for the Investors, as
measured against the initial issue price of the Called Stock.

          c. Procedure. Within ten (10) days after the determination of the Call
Price, the Parent or its designee shall pay to the Investors in cash the Call
Price, at which time the Parent or its designee will become the record holder of
the Called Stock, and the Investors shall deliver the certificate(s) for the
Called Stock (if certificates were issued), properly endorsed for Transfer, to
the Parent or its designee.

     8.2 PUT OPTION.

          a. Exercise by Mitsubishi. During the time period commencing on the
effective date of a Change of Control of the Parent that has a value of at least
Two Hundred Fifty Million

                                       12

<PAGE>

Dollars ($250,000,000 US) (measured by the fair market value of the actual,
non-contingent consideration paid to the Parent or its stockholders upon the
closing of such Change of Control) and represents a per-fully-diluted share
premium of at least twenty percent (20%) (measured by dividing the fair market
value of the actual, non-contingent consideration paid to the Parent or its
stockholders upon the closing of such Change of Control by the fully-diluted
number of shares of capital stock outstanding as of the closing of such Change
of Control and comparing the resulting quotient to the closing market price for
the Parent's common stock on the last trading date prior to the public
announcement of such Change of Control) ("Qualifying Change of Control") and
terminating at the end of the ninetieth (90th) day thereafter (the "Put Option
Termination Date"), Mitsubishi Corporation ("Mitsubishi") shall be entitled, at
its option, to the extent permitted under applicable law (including without
limitation the Japanese Corporation Law), to require the Company (or its
designee, which may be the Parent or the successor of Parent in the Qualifying
Change of Control) to purchase all (but not less than all) of shares of Stock
(the "Put Stock") owned by Mitsubishi (the "Put Option"). Mitsubishi may
exercise the Put Option by delivery of written notice (the "Put Notice") to the
Company at any time after the public announcement of a Qualifying Change of
Control of the Parent and before fifteen (15) days prior to the Put Option
Termination Date, provided that, the Put Option may only be consummated on or
after the effective date of such Qualifying Change of Control and provided
further that the Put Notice shall be delivered to the Company at least fifteen
(15) days prior to the date determined by Mitsubishi for consummation of the Put
Option, during which fifteen (15) day period the Company and/or the Parent may
discuss with Mitsubishi the advisability of consummating the Put Option;
provided, however, that after such fifteen (15) day period, Mitsubishi may
consummate the Put Option and sell the Put Stock, in its sole discretion.

          b. Purchase Price. The price to be paid by the Company or its designee
for the Put Stock (the "Put Price") shall be an amount equal to one hundred ten
percent (110%) of the amount paid by Mitsubishi to the Company for the Put
Stock.

          c. Procedure. The Put Price shall be paid in cash; provided, however,
if the consideration received by the Parent or its stockholders in the
Qualifying Change of Control consists in whole or in part of the registered
common stock of the other party to the Qualifying Change of Control, the Company
(or its designee) may, at its sole option, pay the Put Price using such stock in
the same proportion as such stock represented to the total consideration paid in
the Qualifying Change of Control and applying the valuation for such stock as
applied in connection with the consummation of the Qualifying Change of Control.
Upon payment of the Put Price, Mitsubishi shall deliver the certificate(s) for
the Put Stock (if certificates were issued), properly endorsed for Transfer, to
the Company or its designee.

     8.3 TERMINATION UPON QUALIFIED IPO. The Call Option rights described in
Section 8.1 and the Put Option rights described in Section 8.2 shall
automatically terminate, without notice, upon a Qualified IPO.

                                       13

<PAGE>

                                    SECTION 9

               VOTING, BOARD OF DIRECTORS AND APPROVAL PROVISIONS

     9.1 VOTING SHARES. So long as at least fifty percent (50%) of the Series A
Preferred Stock remains outstanding and the Investors continue to own at least
fifty percent (50%) of the shares of such Series A Preferred Stock (or shares of
common stock issued upon conversion of the Series A Preferred Stock) held by the
Investors as of the date of this Agreement, the Parent and the Investors (each a
"VOTING PARTY", and collectively, the "VOTING PARTIES") each agree to vote all
shares of Stock now or hereafter owned by them, whether beneficially or
otherwise, or as to which they have voting power (collectively, the "VOTING
SHARES") in accordance with the provisions of this Section 9.

     9.2 ELECTION OF BOARD OF DIRECTORS.

          (a) Voting. During the term of this Agreement, each Voting Party
agrees to vote all Voting Shares in such manner as may be necessary to elect
(and maintain in office) as members of the Company's Board of Directors the
following individuals:

               (i) one (1) Series A Designee (as defined below) as the
representative of the holders of the Series A Preferred Stock (or shares of
common stock issued upon conversion of the Series A Preferred Stock) (the
"SERIES A DIRECTOR"); and

               (ii) three (3) Common Designees (as defined below) as the
representatives of the holders of the Company's common stock (the "COMMON
DIRECTORS").

     Each Voting Party shall take all actions necessary to vote all Voting
Shares in accordance with this Section 9.2(a), including without limitation
attending and voting at any meeting for the election of directors, or completion
of proxies or written consents.

          (b) Designation of Directors. The designees to the Company's Board of
Directors described above (each a "DESIGNEE") shall be selected as follows:

               (i) The Series A Director shall initially be Tsunehiko
Yanagihara. Thereafter, with respect to each election of the Series A Director,
the Designee for the Series A Director (the "SERIES A DESIGNEE") shall be
chosen, and may be removed, by Mitsubishi Corporation.

               (ii) The Common Directors shall initially be Ivan Trifunovich,
Stephane Perrey and Kevin Conroy. Thereafter, with respect to each election of
the Common Directors, the Designees for the Common Director (the "COMMON
DESIGNEES") shall be chosen, and may be removed, by the Parent.

          (c) Changes in Designees. From time to time during the term of this
Agreement, Voting Parties who may elect or remove a Designee pursuant to this
Agreement may, in their sole discretion:

                                       14

<PAGE>

               (i) notify the Company in writing of an intention to remove from
the Company's Board of Directors any incumbent Designee who occupies a seat on
the Board of Directors for which such Voting Parties are entitled to designate
the Designee; or

               (ii) notify the Company in writing of an intention to select a
new Designee for election to a seat on the Board of Directors for which such
Voting Parties are entitled to designate the Designee (whether to replace a
prior Designee or to fill a vacancy in such seat).

     In the event of such an initiation of a removal or selection of a Designee
under this Section 9.2(c), the Company shall take such reasonable actions as are
necessary to facilitate such removals or elections, including, without
limitation, soliciting the votes of the appropriate shareholders, and the
appropriate Voting Parties shall vote their Voting Shares to cause: (a) the
removal from the Company's Board of Directors of the Designee or Designees so
designated for removal; and (b) the election to the Company's Board of Directors
of any new Designee or Designees so designated.

     9.3 BOARD OF DIRECTORS VOTING REQUIREMENTS. So long as at least fifty
percent (50%) of the Series A Preferred Stock remains outstanding and the
Investors continue to own at least fifty percent (50%) of the shares of such
Series A Preferred Stock (or shares of common stock issued upon conversion of
the Series A Preferred Stock) held by the Investors as of the date of this
Agreement, the Company may not, without the unanimous consent of the Board of
Directors (of which no director's consent shall be withheld unreasonably, in bad
faith or contrary to the Company's best interests or such director's applicable
fiduciary duty), approve or authorize:

          (a) the Company's annual budget (in its entirety) and business plan
including its mid-term strategy; provided, however, that each member of the
Board of Directors will vote in favor of a budget that substantially comports
with any of the Company's budgets, operations and practices in the ordinary
course of business from and during the Company's previous fiscal years;

          (b) the Company's fiscal year-end financial statements; provided,
however, that each member of the Board of Directors will vote in favor of the
Company's financial statements if such statements were prepared in accordance
with past practices and generally accepted accounting principals under
applicable laws;

          (c) a declaration or payment of a dividend on shares of the Company's
capital stock in a given fiscal year, if (i) the aggregate amount of dividends
to be distributed in such fiscal year exceeds the Company's net profits for such
fiscal year, or (ii) no dividend was declared or paid by the Company in the
previous three (3) fiscal years;

          (d) a sale of any part of the Company's business or assets valued at a
sale price greater than ten percent (10%) of the fair market value of the total
assets of the Company prior to the consummation of such sale or
Y1,000,000,000;

          (e) a purchase of a business or assets for a purchase price greater
than ten percent (10%) of the fair market value of the total assets of the
Company after the consummation of such purchase or Y1,000,000,000;

                                       15

<PAGE>
\
          (f) salaries, bonuses or retirement bonuses for a member of the Board
of Directors in an amount greater than Y100,000,000 during any year;

          (g) a term sheet, proposal or letter of intent or any other contract
or agreement (i) which will result in payment or receipt by the Company of an
amount greater than ten percent (10%) of the fair market value of the total
assets of the Company or an amount greater than the gross sales generated by the
Company during the preceding fiscal year, (ii) the term of which will exceed
three (3) years and that has an aggregate value of greater than ten percent
(10%) of the fair market value of the total assets of the Company, (iii)
regarding a license with respect to the Company's intellectual property that
requires payments in an aggregate amount greater than ten percent (10%) of the
fair market value of the total assets of the Company, or (iv) regarding the
payment or receipt by the Company of royalty payments that have an aggregate
value of greater than ten percent (10%) of the fair market value of the total
assets of the Company. The consent requirement applicable to this subsection (g)
shall be deemed to apply, in any event, to any material amendment after the date
of this Agreement of any of the following agreements: the Agreement between
Parent and the Company being entered into contemporaneously herewith, the
Development and Commercialization Agreement with BML, Inc., the Development
Agreement and the Distribution Agreement with Daiichi Pure Chemicals Co., Ltd.,
the Development and Commercialization Agreement with Shimadzu Corporation and
Toppan Printing Co., Ltd., and the License Agreement with RIKEN;

          (h) any Transfer by Parent, which results in (i) Parent's shareholding
ratio in the Company being less than fifty percent (50%) of the voting stock of
Company and/or (ii) such transferee's shareholding ratio in the Company being
more than that of the second largest investor, Mitsubishi Corporation; and

          (i) Amendment of the Memorandum of Association or Articles of
Association.

     9.4 ISSUES TO BE RESOLVED. The following issues are subject to the simple
majority resolutions in the Board of Directors:

          (a) a declaration or payment of a dividend on shares of the Company's
capital stock in a given fiscal year, except for the case set forth in Section
9.3 (c);

          (b) a sale of any part of the Company's business or assets, except for
the case set forth in Section 9.3 (d) and except for sales in the ordinary
course of the Company's business;

          (c) a purchase of a business or assets, except for the case set forth
in Section 9.3 (e) and except for purchases in the ordinary course of the
Company's business;

          (d) salaries, bonuses or retirement bonuses for a member of the Board
of Directors, except for the case set forth in Section 9.3 (f);

          (e) approval of any transaction that will result in a change of more
than ten percent (10%) in the composition of the Company's shareholders;

          (f) Loans, guarantees, extension of payment, purchase or sales
contracts for over one (1) year, if cumulative amounts for each customer or
product exceed one hundred (100) million yen;

                                       16

<PAGE>

          (g) Acquisition of stocks, if cumulative amounts for each customer
exceed thirty (30) million yen;

          (h) Acquisition of fixed assets, if such acquisition is over one
hundred (100) million yen per transaction;

          (i) Investments, loans and guarantees to any new Affiliate, if the
cumulative amount invested in such Affiliate exceeds thirty (30) million yen;

          (j) Settling a lawsuit or any committing funds in connection with a
similar matter, if such action results in the payment by the Company of over
thirty (30) million yen per transaction;

          (k) Taxable write-down, if cumulative amounts for each customer exceed
thirty (30) million yen; and

          (l) Acceptance of director's doing the same kind of business as the
company or representing the Shareholders in the contract.

     9.5 PARENT APPROVAL RIGHTS. The Company's stock option plan and stock
option grants issued thereunder or otherwise must be approved and authorized in
writing by the Parent.

                                   SECTION 10

                             TERMINATION AND WAIVER

     10.1 TERMINATION. Each of the Investors' information and inspection rights
pursuant to Section 2 hereof, the Shareholders' Preemptive Right pursuant to
Section 3 hereof, the Eligible Investors' Right of First Refusal and the
Investors' Right of Co-Sale pursuant to Sections 4, 5 and 6 hereof,
respectively, and the voting provisions pursuant to Section 9 hereof, and the
board voting rights pursuant to Sections 9.3 and 9.4 hereof will terminate upon
the earliest to occur of (i) the effectiveness of a registration statement
pursuant to a Qualified IPO, (ii) the date on which this Agreement is terminated
by a writing executed by the Company, the Parent and the Investors, (iii) the
dissolution of the Company, (iv) exercise of the Call Option or, in the case of
Mitsubishi, the Put Option, or (v) termination by the Company or its successor
in the event of a Change of Control of the Company that directly or indirectly
results in the Investors no longer holding, collectively, at least twenty-five
percent (25%) of the then issued and outstanding shares of the Series A
Preferred Stock (or shares of common stock issued upon conversion of the Series
A Preferred Stock), provided, however, that in the event of such a Change of
Control, TWT shall notify the Investors of the name of the acquirer and a
summary of the expected or actual terms and conditions of such acquisition at
any time within the period spanning from ninety (90) days prior to, until ninety
(90) days after, the effective date such the Change of Control and discuss the
advisability of terminating this Agreement with the Investors for fifteen (15)
days from the date of such notice to the Investors, after which time the Company
or its successor may, upon written notice to the Investors, immediately effect
the above described termination. The Company's Right of First Refusal will
terminate upon the earliest to occur of (i) a written election of the Company
pursuant to an action by the Board of Directors or (ii) the occurrence of any of
(i), (iii) or (iv) in the preceding sentence.

                                       17

<PAGE>

     10.2 WAIVER. Any waiver by a party of its rights hereunder will be
effective and binding on all parties hereto only if evidenced by a written
instrument executed by such party or its authorized representative. No waivers
of, or exceptions to, any term, condition or provision of this Agreement, in any
one or more instances, shall be deemed to be, or construed as, a further
continuing waiver of any such term, condition or provision.

                                   SECTION 11

                            MISCELLANEOUS PROVISIONS

     11.1 NOTICES. All notices and other communications required or permitted
hereunder shall be in writing and shall be mailed by registered or certified
mail, postage prepaid, sent by confirmed facsimile or otherwise delivered by
hand or by messenger addressed:

          (a) if to an Eligible Investor, at the Eligible Investor's address or
facsimile number as shown in the Company's records, as may be updated in
accordance with the provisions hereof; or

          (b) if to the Company, at its address or facsimile number set forth on
the cover page of this Agreement and addressed to the attention of the
President, or at such other address or facsimile number as the Company shall
have furnished to the Eligible Investors.

     Each such notice or other communication shall for all purposes of this
Agreement be treated as effective or having been given when delivered if
delivered personally, or, if sent by mail, at the earlier of its receipt or
seventy-two (72) hours after the same has been deposited in a regularly
maintained receptacle for the deposit of the mail, addressed and mailed as
aforesaid or, if sent by confirmed facsimile, upon confirmation of facsimile
transfer.

     11.2 INAPPLICABILITY OF CERTAIN RIGHTS. The Eligible Investors' Right of
First Refusal and Right of Co-Sale pursuant to Sections 4, 5 and 6 hereof,
respectively, shall not apply to any Change of Control of the Parent, even if
the Parent's Stock is transferred as part of such Change of Control.

     11.3 SUCCESSORS AND ASSIGNS. This Agreement, and any and all rights, duties
and obligations hereunder, shall not be assigned, transferred, delegated or
sublicensed by any Shareholder without the prior written consent of the Company.
Any attempt by a Shareholder without such permission to assign, transfer,
delegate or sublicense any rights, duties or obligations that arise under this
Agreement shall be void. Subject to the foregoing and except as otherwise
provided herein, the provisions of this Agreement shall inure to the benefit of,
and be binding upon, the successors, assigns, heirs, executors and
administrators of the parties. Any transferee of a Seller who is required to
become a party hereto will be considered a "Seller" for purposes of this
Agreement.

     11.4 SEVERABILITY. Unless otherwise expressly provided herein, the rights
of the Shareholders hereunder are several rights, not rights jointly held with
any other Shareholder. In the event that any provision of this Agreement becomes
or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said
provision, and the parties agree to negotiate, in good faith, a legal and
enforceable substitute provision which most nearly effects the parties' intent
in entering into this Agreement.

                                       18

<PAGE>

     11.5 AMENDMENT. Except as expressly provided herein, neither this Agreement
nor any term hereof may be amended, waived, discharged or terminated other than
by a written instrument referencing this Agreement and signed by the Company,
the Parent and the Investors.

     11.6 CONTINUITY OF OTHER RESTRICTIONS. Any Offered Shares not purchased by
the Company or any Eligible Investor under their Rights of First Refusal
hereunder will continue to be subject to all other restrictions imposed upon
such shares of Stock by law, including any restrictions imposed under the
Articles or by agreement.

     11.7 GOVERNING LAW. This Agreement shall be governed in all respects by the
internal laws of Japan as applied to agreements entered into among Japanese
residents to be performed entirely within Japan, without regard to principles of
conflicts of law.

     11.8 OBLIGATION OF COMPANY: BINDING NATURE OF EXERCISE. The Company agrees
to use its best efforts to enforce the terms of this Agreement except where it
elects to effect a waiver, to inform the Shareholders of any breach hereof (to
the extent the Company has knowledge thereof) and to assist the Shareholders in
the exercise of its rights and the performance of its obligations hereunder. Any
exercise of the Right of First Refusal or Right of Co-Sale will be binding upon
the party so exercising, and may not be withdrawn without the written consent of
the Company or the Seller as to whom it is given, as the case may be, except
that such exercise may be withdrawn unilaterally by the exercising party if
there is any legal prohibition as to a party's consummation of its purchase or
sale hereunder.

     11.9 SPECIFIC PERFORMANCE. The rights of the parties under this Agreement
are unique and, accordingly, the parties shall, in addition to such other
remedies as may be available to any of them at law or in equity, have the right
to enforce their rights hereunder by actions for specific performance to the
extent permitted by law.

     11.10 COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which, when so executed and delivered, will be deemed an
original, and all such counterparts together will constitute one and the same
instrument.

     11.11 FURTHER ASSURANCES. Each party hereby agrees to execute and deliver
all such further instruments and documents and take all such other actions as
necessary or required under each of the Commercial Code of Japan and the
Corporation Law of Japan, or as reasonably requested by the other party, in
either event, in order to carry out the intent and purposes of this Agreement.

     11.12 CONFLICT. In the event of any conflict between the terms of this
Agreement and the Articles, the terms of the Articles will control. In the event
of any conflict between the Company's books and records and this Agreement or
any notice delivered hereunder, the Company's books and records will control
absent fraud or error.

     11.13 ATTORNEYS' FEES. In the event that any suit or action is instituted
to enforce any provision in this Agreement, the prevailing party in such dispute
shall be entitled to recover from the losing party all fees, costs and expenses
of enforcing any right of such prevailing party under or with respect to this
Agreement, including without limitation, such reasonable fees and expenses of

                                       19

<PAGE>

attorneys and accountants, which shall include, without limitation, all fees,
costs and expenses of appeals.

     11.14 TITLES AND SUBTITLES. The titles and subtitles used in this Agreement
are used for convenience only and are not to be considered in construing or
interpreting this Agreement. All references in this Agreement to sections,
paragraphs, exhibits and schedules shall, unless otherwise provided, refer to
sections and paragraphs hereof and exhibits and schedules attached hereto.

     11.15 ENTIRE AGREEMENT. This Agreement, the other Agreements and the
exhibits and schedules hereto and thereto constitute the full and entire
understanding and agreement between the parties with regard to the subjects
hereof and thereof, and no party shall be liable or bound to any other party in
any manner with regard to the subjects hereof or thereof by any warranties,
representations or covenants except as specifically set forth herein or therein.

     11.16 DELAYS OR OMISSIONS. Except as expressly provided herein, no delay or
omission to exercise any right, power or remedy accruing to any party to this
Agreement upon any breach or default of any other party under this Agreement
shall impair any such right, power or remedy of such non-defaulting party, nor
shall it be construed to be a waiver of any such breach or default, or an
acquiescence therein, or of or in any similar breach or default thereafter
occurring, nor shall any waiver of any single breach or default be deemed a
waiver of any other breach or default theretofore or thereafter occurring. Any
waiver, permit, consent or approval of any kind or character on the part of any
party of any breach or default under this Agreement, or any waiver on the part
of any party of any provisions or conditions of this Agreement, must be in
writing and shall be effective only to the extent specifically set forth in such
writing. All remedies, either under this Agreement or by law or otherwise
afforded to any party to this Agreement, shall be cumulative and not
alternative.

     11.17 FACSIMILE EXECUTION AND DELIVERY. A facsimile, telecopy or other
reproduction of this Agreement may be executed by one or more parties hereto,
and an executed copy of this Agreement may be delivered by one or more parties
hereto by facsimile or similar electronic transmission device pursuant to which
the signature of or on behalf of such party can be seen, and such execution and
delivery shall be considered valid, binding and effective for all purposes. At
the request of any party hereto, all parties hereto agree to execute an original
of this Agreement as well as any facsimile, telecopy or other reproduction
hereof.

     11.18 JURISDICTION; VENUE. All disputes or claims arising under or relating
to this Agreement shall be settled by the parties amicably through good faith
discussions upon the written request of any party. In the event that any such
dispute or claim arising under or relating to this Agreement cannot be resolved
thereby within a period of sixty (60) days after such notice has been given,
such dispute or claim (other than a dispute under Section 8.2) shall be subject
to the exclusive jurisdiction of the Tokyo District Court.

     11.19 FURTHER ASSURANCES. Each party hereto agrees to execute and deliver,
by the proper exercise of its corporate, limited liability company, partnership
or other powers, all such other and additional instruments and documents and do
all such other acts and things as may be necessary to more fully effectuate this
Agreement.

                                       20

<PAGE>

     11.20 TERMINATION OF ORIGINAL IRA. The Company, the Parent, and those
Investors that were parties to the Original IRA hereby agree that the Original
IRA shall be deemed terminated and replaced by this Agreement upon the execution
in full of this Agreement.

                                       21

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement of the
day and year first above written.

COMPANY:

THIRD WAVE JAPAN, INC.

By: /s/ Ivan Trifunovich
    ------------------------------------
Name: Ivan Trifunovich
Title: President

PARENT:

THIRD WAVE TECHNOLOGIES, INC.

By: /s/ Kevin Conroy
    ------------------------------------
Name: Kevin Conroy
Title: President & CEO

INVESTORS:

MITSUBISHI CORPORATION

By: /s/ Tsunehiko Yanagihara
    ------------------------------------
Name: Tsunehiko Yanagihara
Title: General Manager, Life Sciences
       Business Unit

CSK INSTITUTE FOR SUSTAINABILITY, LTD.

By: /s/ Masahiro Aozono
    ------------------------------------
Name: Masahiro Aozono
Title: President & CEO

<PAGE>

BML, INC.

By: /s/ Yutaka Arai
    ------------------------------------
Name: Yutaka Arai
Title: President

DAIICHI PURE CHEMICALS CO., LTD.

By: /s/ Shin-ichiro Ashida
    ------------------------------------
Name: Shin-ichiro Ashida
Title: President & CEO

TOPPAN PRINTING CO., LTD.

By: /s/ Naoki Adachi
    ------------------------------------
Name: Naoki Adachi
Title: President & CEO

SHIMADZU CORPORATION

By: /s/ Kozo Shimazu
    ------------------------------------
Name: Kozo Shimazu
Title: Corporate Officer

                  [Signature Page to Investor Rights Agreement]

<PAGE>

                                    EXHIBIT A

                                    INVESTORS

Mitsubishi Corporation

CSK Institute for Sustainability, Ltd.

BML, Inc.

Daiichi Pure Chemicals Co., Ltd.

Toppan Printing Co., Ltd.

Shimadzu Corporation<PAGE>

                                                                    Exhibit 10.3

                                 LEASE AGREEMENT

LANDLORD: UNIVERSITY RESEARCH PARK, INCORPORATED

TENANT:   THIRD WAVE TECHNOLOGIES, INC.

PROPERTY: 502 South Rosa Road, Madison, Wisconsin 53719

DATE:     [see signature page of Lease]

<PAGE>

                            UNIVERSITY RESEARCH PARK

                                 LEASE AGREEMENT

     This Lease is made by and between University Research Park, Incorporated, a
Wisconsin non-stock corporation (hereinafter referred to as "Landlord"), and
Third Wave Technologies, Inc., a Delaware corporation (hereinafter referred to
as "Tenant"), as of the date of execution by Landlord as set forth on the
signature page hereof.

                                   WITNESSETH:

     IT IS HEREBY AGREED, by and between the parties hereto, in consideration of
the covenants and agreements set forth in this Lease, as follows:

     1. PREMISES AND TERM

          1.1 LEASED PREMISES.

               (a) Landlord owns property that (i) is located at 500, 502 and
          504 South Rosa Road, Madison, Dane County, Wisconsin, and (ii) is
          legally described in Exhibit A attached hereto ("Landlord's
          Property").

               (b) The building currently located on Landlord's Property (the
          "Building") is a multi-level building that upon completion of Addition
          2 (as defined below) will be comprised of three distinct areas. The
          areas are as follows:

                    (i) The original building ("Original Building") consisting
               of 27,045 rentable square feet is known as 500 South Rosa Road;

                    (ii) The first addition to the Original Building ("Addition
               1") consisting of 67,681 rentable square feet is known as 502
               South Rosa Road; and

                    (iii) The to be constructed second addition to the Original
               Building ("Addition 2"), consisting of 49,491 rentable square
               feet will be known as 504 South Rosa Road.

          Landlord reserves the right to reconfigure the interior layout of the
          Building (not including the Leased Premises) from time to time, to add
          additional improvements to the Building and Landlord's Property from
          time to time and to reconfigure unimproved and improved areas of the
          Landlord's Property from time to time.

               (c) The Leased Premises ("Leased Premises") are located in
          Addition 1. Specifically, the Leased Premises currently include all of
          Addition 1. The location of the Leased Premises on the Landlord's
          Property is indicated on the map attached hereto as Exhibit B-1, and
          the floor plan of the Building attached hereto as Exhibit B-2.

                                        1

<PAGE>

               (d) Landlord hereby leases the Leased Premises to Tenant and
          Tenant hereby leases the Leased Premises from Landlord on the terms
          and provisions and subject to the conditions hereinafter set forth in
          this Lease.

          1.2 TERM OF LEASE.

               (a) The term of this Lease (the "Term") shall begin on July 1,
          2007 (the "Commencement Date"), and shall end at midnight on September
          30, 2014, unless extended as provided in this Lease

               (b) All references to the Leased Premises in this Lease shall be
          construed to mean the size and area of the Leased Premises as of the
          date such determination is made and in the event there are changes in
          the size and area of the Leased Premises during that period, a daily
          proration shall be used.

          1.3 CONDITION OF LEASED PREMISES. Landlord shall deliver the Leased
     Premises in "as is" condition.

          1.4 SECURITY DEPOSIT. Tenant has previously provided Landlord with a
     letter of credit in the amount of $1,000,000.00 in favor of Landlord as
     security for payment of Tenant's obligations under this Lease, including
     amounts due under Section 1.5, below. Tenant shall maintain such letter of
     credit in effect through August 31, 2007. Provided all amounts due under
     Section 1.5 below have been paid, thereafter, no other security deposit
     shall be required.

          1.5 DEFERRED PAYMENTS. Under prior leases with Landlord, Tenant has
     agreed to make certain payments to Landlord for additional improvements,
     rent deferral and early termination compensation. The amounts of such
     obligations and the circumstances giving rise to the obligations are set
     forth on Rent and Other Obligation Schedule attached hereto as Exhibit C.
     Tenant shall make all payments set forth on Exhibit C on the dates provided
     thereon.

          1.6 LANDLORD'S OPTION TO LEASE SECOND FLOOR SPACE. At any time during
     the term of this Lease, Landlord shall have the option to occupy and lease
     to others up to 5,962 rentable square feet of space on the second floor
     of Addition 1. Such space is identified on Exhibit B-1 as the "Option
     Space". Landlord's option shall be exercisable by providing written notice
     to Tenant identifying all or any portion of the Option Space which Landlord
     elects to occupy and lease to others. Such notice shall provide an
     effective date for such occupancy which shall be no less than twenty (20)
     days after the date of such notice (each such date an "Effective Date").
     This option may be exercised as to one or more increments during the term
     of this Lease. Each month after the effective date of the first notice by
     Landlord hereunder, Tenant shall receive as a credit against base monthly
     rent payable thereafter in an amount equal to $16.00 times the number of
     square feet of the Option Space which Landlord has then elected to occupy
     and lease to others divided by twelve (12). Upon the effective date of the
     first notice by Landlord to occupy and lease to others, Tenant shall pay to
     Landlord the sum of $37,000.00 to cover the costs of leasing commissions on
     the Option space and HVAC

                                        2

<PAGE>

     improvements for the Option Space. Upon an Effective Date, the portion of
     the Option Space that is recaptured as provided herein shall not be
     considered part of the Leased Premises for any purpose hereunder,
     including, but not limited to, calculating the numerator of Tenant's
     Proportionate Share as such term is used herein.

     2. RENT

          2.1 BASE RENT. Tenant shall pay to Landlord at its office in Madison,
     Wisconsin, or such other place as Landlord may designate in writing, and
     without any deduction or offset (unless provided for in this Lease), as
     base rent ("Base Rent"), in advance on or before the first day of each
     calendar month during the Term the amounts set forth as Base Rent on
     Exhibit C.

          Base Rent shall commence on the Commencement Date. Base Rent will
     increase by four percent (4%) until 2011 as reflected in the Base Rent
     Schedule.

          If the Term of this Lease does not commence on the first day of a
     calendar month, the Base Rent for such fractional month shall be computed
     pro rata on the basis of thirty (30) days per month and paid to Landlord on
     the first day of the next succeeding calendar month along with the rent for
     such succeeding month.

          2.2 ADDITIONAL RENT. In addition to base rent, Tenant shall pay as
     part of the consideration for this Lease and as additional rent,
     hereinafter designated "additional rent," all additional amounts
     hereinafter provided for and the same shall be payable upon Landlord's
     demand except as otherwise expressly provided, including, but not limited
     to Tenant's Proportionate Share (as defined in Section 2.4) of real estate
     taxes, Common Area charges, and Tenant's Proportionate Share of Landlord's
     insurance and utilities.

          2.3 PAST DUE RENT. If Tenant shall fail to pay when due any base rent
     or additional rent, and such amount shall not be paid within ten (10) days
     after the date when due, such unpaid amounts shall bear interest from the
     due date thereof to the date of payment at the rate of ten percent (10%)
     per annum or the prime interest rate then charged by the U.S. Bank National
     Association or its successors or assigns, whichever is greater.

          2.4 REAL ESTATE TAXES. Landlord shall pay all general taxes on
     Landlord's Property, including all general real estate taxes, personal
     property taxes on Landlord's personal property located at Landlord's
     Property and installments for special assessments arising during the Term
     of the Lease. Tenant agrees to reimburse Landlord for Tenant's
     Proportionate Share of such taxes and assessments.

          Tenant's obligation for each tax and assessment described in this
     section shall be further prorated for the first Lease Year of this Lease
     between Landlord and Tenant as of the Commencement Date. Tenant's
     obligation for each tax and assessment described in this section shall be
     further prorated for the last Lease Year of the Term as of the last day of
     the Term.

                                        3

<PAGE>

          Tenant shall, upon notice from Landlord, pay in escrow to Landlord
     one-twelfth (1/12) of Tenant's Proportionate Share of the estimated annual
     real estate taxes, personal property taxes and installments for special
     assessments for Landlord's Property on the first day of each month after
     such request. Tenant shall be responsible for the prompt payment of its pro
     rata share of any deficiency so that all such taxes shall be paid before
     the same become delinquent. Tenant's escrow payment shall be applied by
     Landlord to the payment of the taxes and assessments on the Landlord's
     Property. At the termination of this Lease, Tenant shall promptly pay
     Landlord for Tenant's Proportionate Share of the estimated taxes and
     assessments based upon that portion of the termination year this Lease is
     in effect. Such estimate shall be based upon the taxes and assessments for
     the preceding year. Any payment by Tenant in excess of Tenant's
     Proportionate Share of taxes and assessments for any tax year shall be
     refunded to Tenant (as soon as reasonably practicable). Landlord shall
     reasonably attempt to deliver such information by March 30 of each year.

          For purposes of this Section 2.4, Tenant's Proportionate Share is a
     percentage calculated by dividing the rentable square footage of the Leased
     Premises by the rentable square footage of all buildings located from time
     to time on Landlord's Property.

     3. INSTALLATIONS, REPAIRS AND MAINTENANCE OF LEASED PREMISES

          3.1 MAINTENANCE BY TENANT. Tenant shall at all times keep the Leased
     Premises and all partitions, doors, fixtures, equipment and appurtenances
     thereof (including but not limited to electrical, lighting, HVAC, and
     plumbing equipment, lines and fixtures servicing only the Leased Premises)
     in good order, condition and repair, including periodic painting as
     determined by Landlord, reasonable wear and tear excepted. If Tenant
     refuses or neglects to repair property as required hereunder and to the
     reasonable satisfaction of Landlord as soon as reasonably possible after
     written demand, Landlord may make such repairs without liability to Tenant
     for any loss or damage that may accrue to Tenant's property or to Tenant's
     business by reason thereof and upon completion thereof, Tenant shall pay
     Landlord's costs for making such repairs plus twenty percent (20%) for
     overhead, upon presentation of bill therefor, as additional rent. When used
     in this section or paragraph, the term "repairs" shall include replacements
     and renewals when necessary and all such repairs shall be equal in quality
     and class of original work.

          3.2 MAINTENANCE BY LANDLORD. Landlord shall keep foundations, exterior
     walls, roof and all other structural members, both interior and exterior of
     the Leased Premises and all Common Areas including, shared use equipment
     and any electrical, HVAC, and plumbing lines and equipment not exclusively
     servicing the Leased Premises (all of which shall be considered as part of
     the Common Area) in good repair and shall have access to the Leased
     Premises for such purpose, but Landlord shall not be required to make any
     such repairs which become necessary or desirable by reason of the
     negligence of Tenant, its agents, servants, employees or customers.
     Landlord shall enter into service contracts on all heating, ventilating and
     air conditioning units, including but not limited to changing filters,
     checking belts and oiling of units. Tenant shall pay

                                        4

<PAGE>

     Tenant's Proportionate Share of the cost of such contracts as a Common Area
     charge pursuant to Section 5.4.

          3.3 EXTERIOR SIGNS. Landlord's Property shall be comprised of space
     with up to three (3) separate street entrances and postal addresses.
     Monument signs shall be made available for Tenant's signage at the 502 S.
     Rosa Road entrance in accordance with restrictions applicable to signs in
     the University Research Park. Landlord shall provide to Tenant, exterior,
     lobby directory and suite number signage for each entrance. All signs to be
     installed by Landlord or Tenant shall be approved in advance in writing by
     the Design Review Board. The cost of all signs, other than those furnished
     by Landlord, including the installation, maintenance, and removal thereof,
     shall be the responsibility of the Tenant. Tenant shall remove all signs
     installed by Tenant at the termination of this Lease. Such installations
     and removals shall be made in such a manner as to avoid injury, defacement
     or any other damages to the buildings and improvements. The cost of
     repairing any damage to the building caused by the installation, removal,
     or maintenance of the sign shall be borne by the Tenant.

          3.4 ALTERATIONS, CHANGES AND INSTALLATIONS BY TENANT. Tenant shall not
     make or cause to be made any alterations, additions or improvements to the
     Leased Premises, or cause to be installed any fixtures, interior or
     exterior lighting, plumbing equipment or mechanical equipment within the
     Leased Premises or any Common Areas, without the prior written consent of
     Landlord.

          3.5 FIXTURES AND EQUIPMENT. Subject to Section 3.4, Tenant may, at its
     own expense, furnish and install such business and trade fixtures in and on
     the Leased Premises as may be necessary or desirable for Tenant's business.
     Upon expiration of this Lease, Tenant may remove such business and trade
     fixtures provided that Tenant shall promptly repair any damage caused by
     their removal. Landlord and Tenant acknowledge that all business and trade
     fixtures currently located within the Leased Premises are the property of
     the Landlord. Tenant may, at its own expense, install equipment within the
     Leased Premises and such equipment shall remain the property of the Tenant
     and shall be removed by Tenant upon the termination of this Lease.

          3.6 LIENS AND OBLIGATIONS. Tenant agrees not to create or to permit
     others to create any lien or obligations against Landlord or the Leased
     Premises in making alterations, repairs or in installing materials,
     fixtures or equipment. If a lien or obligation is claimed against Landlord
     or the Leased Premises, Tenant shall either (a) provide Landlord with a
     bond in the amount of that claim, or (b) cause that claim to be released.
     Tenant further agrees to hold Landlord harmless from all claims and demands
     by any third party in any manner connected with such alterations, repairs
     or installations or with Tenant's occupancy for such purpose. Tenant shall
     comply with all laws and all directions, rules and regulations of all
     governmental regulatory bodies or officials having jurisdiction over such
     alterations, repairs or installations, except that Tenant shall not be
     required to comply with any laws, regulations or orders by governmental
     authority necessitating structural alterations, changes, repairs or
     additions, unless made necessary by the act or work performed by Tenant, in
     which case Tenant shall so comply, at its own

                                        5

<PAGE>

     expense, after first procuring the written consent of Landlord, which
     consent will not be unreasonably withheld, conditioned or delayed.

     4. CONDUCT OF BUSINESS

          4.1 BUSINESS USE. It is understood and agreed that the Leased Premises
     shall be used and occupied by Tenant as office, laboratory, and light
     manufacturing facility. Tenant shall not use the Leased Premises for any
     use not identified as a permitted use by any zoning ordinance or other
     governmental regulation relating to the Leased Premises or approved as a
     conditional use by the governmental bodies having zoning authority. No use
     shall be permitted, or acts done, which will cause a cancellation of any
     insurance policy covering the Leased Premises. Tenant shall not sell,
     permit to be kept, used or sold in or about the Leased Premises any article
     which may be prohibited by the standard form of fire insurance policy. In
     the event Tenant's use of the Leased Premises results in an increase in the
     cost of any insurance relating to the Landlord's Property, Tenant shall pay
     such additional cost to Landlord upon demand. Tenant shall comply with all
     applicable laws, ordinances, regulations, and/or deed and plat restrictions
     affecting the use and occupancy of the Leased Premises. Tenant shall not
     commit, or permit to be committed, any waste or nuisance on the Leased
     Premises.

          4.2 UTILITY CHARGES. Tenant shall be solely responsible for and
     promptly pay all charges for heat, water, gas, sewer, electricity or any
     other utility used or consumed in the Leased Premises, including
     supplemental heating. The Leased Premises may be comprised of
     non-contiguous areas. In the event that portions of the Leased Premises are
     not separately metered, Tenant shall pay Tenant's Proportionate Share of
     utility costs for the portion of the Leased Premises not separately
     metered. For purposes of this Section 4.2, Tenant's Proportionate Share is
     a percentage calculated by dividing the rentable square footage of
     improvements on Landlord's Property serviced by a separate utility meter by
     the rentable square footage of the portion of the Leased Premises serviced
     by such meter. Landlord reserves the right to implement other appropriate
     allocation methods to fairly allocate utility costs between tenants sharing
     a utility meter based on differing usage. In no event shall Landlord be
     liable for an interruption or failure in the supply of any such utilities
     to the Leased Premises.

          4.3 TAXES ON LEASEHOLD. Tenant shall be responsible for and shall pay
     before delinquency all municipal, county, state, or other taxes assessed
     during the Term of this Lease against any leasehold interest or personal
     property of any kind, owned by or placed in, upon or about Leased Premises
     by Tenant.

          4.4 ASSIGNMENT OR SUBLETTING. Tenant agrees not to sell, assign,
     mortgage, pledge or in any manner transfer this Lease or any estate or
     interest thereunder and not to sublet the Leased Premises or any part or
     parts thereof without the prior written consent of Landlord in each
     instance which consent shall not be unreasonably withheld, conditioned or
     delayed. Consent by Landlord to one assignment of this Lease or to one
     licensing or subletting of the Leased Premises shall not be a waiver of
     Landlord's rights hereunder as to subsequent assignment or subletting.
     Furthermore, Landlord's consent to any assignment or sublease shall not, in
     the absence of language to the contrary contained

                                        6

<PAGE>

     within said assignment or sublease, release Tenant from the covenant to pay
     rent or any other covenant owed by Tenant to Landlord under this Lease.
     Landlord's rights to assign this Lease are and shall remain unqualified.

          4.5 RULES AND REGULATIONS. The rules and regulations appended to this
     Lease as Exhibit D are hereby made a part of this Lease. The rules and
     regulations adopted by the Landlord shall be reasonable, in writing and
     provided to Tenant in order to be effective. Tenant agrees to comply with
     and observe the rules and regulations. Tenant's failure to keep and observe
     said rules and regulations shall constitute a breach of the terms of this
     Lease in the manner as if the same were contained herein as covenants.
     Landlord reserves the right from time to time to amend or supplement said
     rules and regulations and to adopt and promulgate additional rules and
     regulations applicable to Leased Premises and Landlord's Property, provided
     that such additional rules and regulations do not unreasonably interfere
     with Tenant's use and enjoyment of the Leased Premises. Any such additional
     rules and regulations, and amendments and supplements, if any, shall be
     given to Tenant in writing, and Tenant agrees thereupon to comply with and
     observe all such rules and regulations and amendments thereto and
     supplements thereof.

          4.6 SURRENDER. On the last day of the Term of this Lease, including
     any extended term, or upon the sooner termination thereof, Tenant shall
     peaceably and quietly surrender the Leased Premises and all improvements
     thereon in the same condition as at the commencement of this Lease, in good
     order, condition and repair, fire and other unavoidable casualty, and
     reasonable wear and tear excepted. All alterations, additions, and
     improvements (other than Tenant's business and trade fixtures) which may be
     made or installed by either Landlord or Tenant upon the Leased Premises or
     in Common Areas shall remain the property of Landlord and shall remain upon
     and be surrendered without disturbance, molestation or injury at the
     termination of the Term of this Lease, whether by the elapse of time or
     otherwise, all without compensation or credit to Tenant. On or before the
     last day of the Term, Tenant shall remove all business, trade fixtures,
     equipment and personal property from the Leased Premises and shall repair
     any damage occasioned by such removal. Any personal property not removed by
     Tenant shall be deemed abandoned and shall become the property of Landlord;
     provided, that the Landlord shall have the option to effect said removals
     and Tenant shall pay Landlord, on demand, the cost of removal thereof, with
     interest at the rate of ten percent (10%) per annum from the date of such
     removal by Landlord, or the prime interest rate established by U.S. Bank
     National Association or its successors or assigns, whichever is higher.

          The delivery of the keys to the Leased Premises to Landlord at the
     place then fixed for the payment of rent shall constitute surrender of the
     Leased Premises by Tenant and acceptance of the keys by Landlord shall
     constitute acceptance by Landlord of such surrender. Such acceptance by
     Landlord shall not constitute a waiver of any rights to recover damages
     under terms of this Lease. This method of surrender shall not be exclusive
     and shall be in addition to all other methods of surrender.

          Anything in this section to the contrary notwithstanding, at any
     termination of this Lease, Landlord shall have a lien upon all of the
     property of Tenant then located in or

                                        7

<PAGE>

     upon the Leased Premises to secure the payment of any amounts due from
     Tenant to Landlord by reason of this Lease or to secure the payment of
     damages, and Landlord may retain possession of such property until payment
     in full of said amounts. Said lien shall not be defeated by placing such
     property in storage. If Tenant has not redeemed said property within ninety
     (90) days after the termination of said Lease, Landlord may sell such
     property at public or private sale without further notice to Tenant, and
     shall apply in a reasonable manner determined by Landlord the proceeds of
     sale to reduce the amounts then owed from Tenant to Landlord.

     5. COMMON USE AREAS AND FACILITIES

          5.1 COMMON AREA. As used herein, "Common Area" shall include all of
     that portion of the improvements on and all areas within the Landlord's
     Property which are designed for the common use and benefit of all tenants
     of Landlord's Property as the same may exist from time to time. Landlord
     reserves the right to change building perimeters, add additional buildings,
     drives, or other structures and to make other changes desired, provided
     only that reasonable access to, parking for and use of the Leased Premises
     is at all times provided and maintained.

          5.2 USE OF COMMON AREA. Landlord hereby grants to Tenant, its
     employees, agents, customers and invitees, the nonexclusive right during
     the Term of this Lease to use the Common Area, as the same may exist from
     time to time constituted, such use to be in common with Landlord and all
     tenants of Landlord from time to time, its and their employees, agents,
     customers and invitees, except when the same are being repaired.

          5.3 OPERATION AND MAINTENANCE. The Common Area shall at all times be
     subject to the exclusive control and management of Landlord and Landlord
     shall manage, operate, repair and maintain the Common Area and its
     facilities in a clean and sightly condition. The manner in which such area
     and facilities shall be maintained and the expenditures therefor shall be
     at the Landlord's sole discretion.

          5.4 PREVENTING PUBLIC RIGHTS. If Landlord deems it necessary in order
     to prevent the acquisition of special rights, Landlord may from time to
     time close all or any portion of the Common Area or take such action as
     shall be reasonably appropriate for that purpose.

          5.5 CHARGE FOR COMMON AREA AND FACILITIES. During the Term of this
     Lease, Tenant shall pay to Landlord an annual charge which shall be
     Tenant's Proportionate Share of the Landlord's actual cost of operating,
     repairing, and maintaining the Common Area and other facilities which shall
     include, but shall not be limited to common hallways and lobbies,
     driveways, parking areas, landscaped and vacant areas, area-ways, walks,
     curbs, corridors, gardens, sanitary and storm sewers, signs, public
     facilities such as washrooms, drinking fountains, toilets, the cost of
     operating, repairing, lighting, heating, air conditioning, cleaning,
     painting, removing of snow, ice and debris, policing and inspecting,
     insurance for hazards and other risks, maintenance including but not
     limited to such repair of paving, curbs, walkways, driveways, landscaping
     and drainage and lighting facilities as may be necessary from time to time
     to keep the same in

                                        8

<PAGE>

     good condition and repair, a reasonable allowance for the depreciation of
     maintenance equipment, a reasonable allowance for Landlord's overhead costs
     in conjunction with the foregoing, and all costs and expenses other than
     those of a capital nature, but excluding legal fees recovered by Tenant
     from Landlord in any litigation relating to this Lease. Landlord shall
     provide Tenant an itemized statement of such costs upon request.

          5.6 FORMULA FOR PROPORTIONATE SHARE. The annual charge for Common Area
     maintenance and facilities shall be computed on the basis of twelve (12)
     consecutive calendar months commencing and ending on dates designated by
     the Landlord and shall be paid, as additional rent, in advance in monthly
     installments on the first day of each calendar month in an amount estimated
     by Landlord. Within sixty (60) days after the end of each such twelve (12)
     month period, Landlord shall determine and furnish to Tenant a computation
     of the actual amount charged for such period; and the amounts so estimated
     and paid during such period shall be adjusted promptly (including
     adjustments on a pro rata basis for any partial such period at either end
     of the Lease Term) by one party's paying to the other whatever amount is
     necessary to effectuate such adjustment.

          For the purposes of this Section 5.6, Tenant's Proportionate Share is
     a percentage calculated by dividing the rentable square footage of the
     Leased Premises by the rentable square footage of all buildings located
     from time to time on Landlord's Property

          5.7 BASIS FOR CHANGES. Tenant's Proportionate Share shall be adjusted
     each time there is any change in the area of the Leased Premises or of all
     buildings constructed from time to time on Landlord's Property. Changes in
     any particular floor area occurring during any calendar month shall be
     effective on the first day of the next succeeding calendar month and the
     amounts of any floor area in effect for the whole of any year shall be the
     average of the total amounts in effect on the first day of each calendar
     month in such year.

     6. INSURANCE

          6.1 CASUALTY INSURANCE. Landlord shall at all times during the Term of
     this Lease keep all improvements which are now or hereafter located on the
     Landlord's Property insured against loss or damage by fire and the extended
     coverage hazards at full insurance value with loss payable to Landlord,
     Landlord's mortgagee and such other parties as Landlord may designate, as
     their interests may appear.

          Tenant agrees to reimburse Landlord for Tenant's Proportionate Share
     of the cost of such insurance. Tenant's Proportionate Share under this
     Section 6.1 shall be that proportion which the rentable area in the Leased
     Premises bears to the total rentable area in the buildings located from
     time to time on the Landlord's Property. Each month Tenant shall pay to
     Landlord an amount equal to one-twelfth (1/12) of Tenant's Proportionate
     Share of the estimated annual casualty insurance premium. Upon Landlord's
     receipt of any premium notice, Tenant shall upon demand make up any
     deficiency to the extent of Tenant's Proportionate Share of the estimated
     annual casualty

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<PAGE>

     insurance premium. Tenant shall receive a credit if Tenant's estimated
     payments exceed the actual amount of Tenant's Proportionate Share of such
     insurance costs.

          6.2 PUBLIC LIABILITY INSURANCE. Landlord shall at all times during the
     Term of this Lease keep in full force and effect a policy of public
     liability and property damage insurance with respect to the Landlord's
     Property and all business operated thereon, with limits of public liability
     not less than One Million and No/100 ($1,000,000.00) Dollars for injury or
     death in any one occurrence, and property damage liability insurance in the
     amount of One Hundred Thousand and No/100 ($100,000.00) Dollars. The
     policies shall name Landlord, Tenant and Landlord's mortgagees as
     co-insureds as their interests may appear. Upon written request by Tenant,
     Landlord shall provide the Tenant with evidence of such insurance,
     including identification of the Tenant as a co-insured. Landlord may from
     time to time during the Term of this Lease increase the above stated
     coverage in its discretion. Tenant shall reimburse Landlord for Tenant's
     Proportionate Share of the cost of such insurance in the same manner as
     provided in Section 6.1 regarding casualty insurance.

          6.3 TENANT'S CONTENTS. Tenant shall be responsible for obtaining such
     insurance as it may deem advisable for all property located in the Leased
     Premises and in Common Areas. It is understood that the insurance carried
     by Landlord does not cover the risk of loss or damage to Tenant's property.
     Tenant waives any claim against Landlord and shall save Landlord harmless
     from any claim for loss or damage to contents, merchandise, fixtures,
     equipment or work done by Tenant regardless of the cause of any such damage
     or loss.

          6.4 INCREASE IN FIRE INSURANCE. Tenant agrees that it will not keep or
     use, in or upon the Leased Premises any article which may be prohibited by
     the standard form fire insurance policy. If Tenant's use or occupancy
     causes any increase in premiums for fire or casualty insurance on the
     Landlord's Property, or the Leased Premises, or any part thereof, above the
     rate of the least hazardous type of occupancy legally permitted in the
     Leased Premises, Tenant shall pay the additional premium on such insurance.
     No part of such additional premium resulting from the use or occupancy of
     another tenant shall be charged to Tenant under Sections 6.1 and/or 6.2 of
     this Lease. The Tenant shall also pay in such event any additional premium
     on any rent insurance policy that may be carried by the Landlord for its
     protection against rent loss through fire or other casualty. Bills for such
     additional premiums shall be rendered by Landlord to Tenant at such times
     as Landlord may elect, and shall be due and payable by Tenant when
     rendered, and the amount thereof shall be deemed to be, and be paid as,
     additional rent.

          6.5 HOLD HARMLESS. Landlord shall not be liable for any loss, injury,
     death, or damage to persons or property (a) which at any time may be
     suffered or sustained by Tenant or by any person whosoever may at any time
     be using, occupying or visiting the Leased Premises, or (b) which at any
     time may be suffered or sustained on the Leased Premises by Tenant's
     employees, agents, invitees or persons occupying or visiting the Leased
     Premises, unless such loss, injury or death is caused by the Landlord's
     negligence or misconduct, and Tenant shall indemnify Landlord against all
     claims, liability, loss or damage whatsoever on account of any such loss,
     injury, death, or damage. Tenant shall

                                       10

<PAGE>

     indemnify Landlord against all claims, liability, loss or damage arising by
     reason of the negligence or misconduct of Tenant, its agents or employees.
     Tenant hereby waives all claims against Landlord for damages to the
     building and improvements that are now on or hereafter placed or built on
     the Landlord's Property and to the property of Tenant in, on, or about the
     Landlord's Property, and for injuries to persons or property in or about
     the Landlord's Property, from any cause arising at any time. The preceding
     sentences shall not apply to loss, injury, death, or damage arising by
     reason of the negligence or misconduct of Landlord, its agents, or
     employees.

          Tenant shall not be liable for any loss, injury, death or damage to
     persons or property which at any time may be suffered or sustained by third
     parties, including Landlord's agents, employees or contractors, or
     whosoever may at any time be using or occupy or visiting portions of the
     Landlord's Property other than the Leased Premises, or be in, on or about
     the same, to the extent such loss, injury, death or damage shall be caused
     by or in any way result from or arise out of any act, omission or
     negligence of Landlord, its agents, employees or contractors, or of any
     occupant, tenant, visitor or user of any portion of the Landlord's
     Property, other than the Leased Premises, and Landlord shall indemnify
     Tenant against all claims, liability, loss or damage whatsoever on account
     of any such loss, injury, death or damage. The preceding sentence shall not
     apply to loss, injury, death or damage to the extent caused by the
     negligence or misconduct of Tenant or its agents, employees or contractors.

          6.6 WAIVER OF SUBROGATION. Landlord and Tenant hereby release each
     other from any and all liability or responsibility to the other (or to
     anyone claiming through or under them by way of subrogation or otherwise)
     for any loss or damage to property caused by fire or any of the extended
     coverage or supplementary insurance contract casualties, even if such fire
     or other casualty shall have been caused by the fault or negligence of the
     party or anyone for whom such party may be responsible, provided, however,
     that this release shall be applicable and in force and effect only in
     respect to loss or damage occurring during such time as the releaser's
     policies shall contain a clause or endorsement to the effect that any such
     release shall not adversely affect or impair or prejudice the right of the
     releaser to recover thereunder. Landlord and Tenant each agree that their
     policies will include such a clause or endorsement so long as the same is
     obtainable and if not obtainable, shall so advise the other in writing and
     such notice shall release both parties from the obligation to obtain such a
     clause or endorsement.

     7. DESTRUCTION OF LEASED PREMISES

          7.1 DESTRUCTION OF LEASED PREMISES. If the building in which the
     Leased Premises is damaged or partially destroyed by fire or other casualty
     to the extent of less than one-quarter (1/4) of the then cost of
     replacement thereof above foundation, the same shall be repaired as quickly
     as is practicable, by Landlord, except that the obligation of Landlord to
     rebuild shall be limited to repairing or rebuilding of Landlord's
     improvements. If the building in which the Leased Premises is so destroyed
     or damaged to the extent of one-quarter (1/4) or more of the then
     replacement cost thereof, then Landlord may elect not to repair or rebuild
     by giving written notice of termination to the Tenant, in which event this
     Lease shall be terminated as of the date of such notice.

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<PAGE>

          7.2 REBUILDING BY LANDLORD. If Landlord shall undertake to restore or
     repair the building which includes the Leased Premises, it shall initiate
     and pursue the necessary work with all reasonable dispatch, in a manner
     consistent with sound construction methods. All such work will be
     undertaken and completed in a first-class manner using skilled contractors
     and new, high quality materials.

          7.3 ABATEMENT OF RENT UPON DESTRUCTION OF PREMISES. If such damage or
     partial destruction renders the Leased Premises wholly untenantable, the
     base rent shall abate until the Leased Premises have been restored and
     rendered tenantable. If such damage or partial destruction renders the
     Leased Premises untenantable only in part, the base rent shall abate
     proportionately as to the portion of the Leased Premises rendered
     untenantable. Rent shall not abate under this section if the damage or
     destruction is caused by the negligence or misconduct of Tenant, its
     agents, employees, customers or invitees.

     8. EFFECT OF CONDEMNATION

          8.1 TOTAL CONDEMNATION. In the event that the Leased Premises or such
     part of the Leased Premises as will render the remainder untenantable,
     shall be appropriated or taken under the power of eminent domain by any
     public or quasi-public authority, this Lease shall terminate and expire as
     of the date of taking.

          8.2 PARTIAL CONDEMNATION. In the event of any other partial
     condemnation, Tenant shall have the option of terminating this Lease on the
     effective date of such condemnation by written notice to Landlord prior to
     such effective date, unless Landlord shall provide to Tenant within a
     reasonable time after such effective date reasonably comparable space to
     that taken.

          8.3 LANDLORD'S DAMAGES. In the event of any condemnation or taking,
     whether whole or partial, the Tenant shall not be entitled to any part of
     the award paid for such condemnation and Landlord is to receive the full
     amount of such award. The Tenant hereby expressly waives any rights or
     claim to any part thereof.

          8.4 TENANT'S DAMAGES. Although all damages in the event of any
     condemnation are to belong to the Landlord whether such damages are awarded
     as compensation for diminution in value of the leasehold or to the fee of
     the Leased Premises, Tenant shall have the right to claim and recover from
     the condemning authority, but not from Landlord, such compensation as may
     be separately awarded or recoverable by Tenant in Tenant's own right on
     account of any and all damage to Tenant's business by reason of the
     condemnation, and for or on account of any cost or loss to which Tenant
     might be put in removing Tenant's property.

     9. REMEDIES

          9.1 EVENTS OF DEFAULT BY TENANT. Upon the failure by Tenant to pay
     rent when due, Landlord may terminate this Lease or Tenant's right to use
     and occupy the Leased Premises by ten (10) days' written notice to Tenant
     unless Tenant within such ten (10) days pays all rent due. Upon the
     happening of any one or more of the following

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<PAGE>

     events: (a) the levying of a writ of execution or attachment on or against
     the property of Tenant; (b) the taking of any action for the voluntary
     dissolution of Tenant; (c) the commencement of a mechanic's lien
     foreclosure action against Tenant as a result of a mechanic's lien or claim
     therefor against the land or building of which the Leased Premises are a
     part; (d) the failure of Tenant to perform any other of the terms,
     provisions, and covenants of this Lease, Landlord may terminate this Lease
     or Tenant's right to use and occupy the Leased Premises by thirty (30)
     days' written notice to Tenant unless Tenant, within such thirty (30) day
     period, cures the specified default or, if the default is of a character
     which cannot be cured within thirty (30) days, the Tenant commences and
     diligently pursues the cure of such default within thirty (30) days.

          9.2 RE-ENTRY BY LANDLORD. Upon such termination of the Lease or
     termination of Tenant's right to use and occupy the Leased Premises as
     aforesaid, or if Tenant at any time during the Term of this Lease vacates
     the Leased Premises or ceases operating its business in the Leased
     Premises, Landlord may reenter the Leased Premises.

          9.3 RIGHT TO RELET. Should Landlord elect to reenter, as herein
     provided, or should it take possession pursuant to legal proceedings or
     pursuant to any notice provided for by law, it may either terminate this
     Lease or it may from time to time without terminating this Lease, make such
     alterations and repairs as may be necessary in order to relet the Leased
     Premises, and relet the Leased Premises or any part thereof for such term
     or terms (which may be for a term extending beyond the Term of this Lease)
     and at such rental or rentals upon such other terms and conditions as
     Landlord in its sole discretion may deem advisable upon each such
     reletting. All rentals received by the Landlord from such reletting shall
     be applied, first, to the payment of any indebtedness other than rent due
     hereunder from Tenant to Landlord; second, to the payment of any costs of
     such alterations and repairs; third, to the payment of rent due and unpaid
     future rent as the same may become due and payable hereunder. If such
     rentals received from such reletting during the month be less than that to
     be paid during that month by Tenant hereunder, Tenant shall pay any such
     deficiency to Landlord. Such deficiency shall be calculated and paid
     monthly. No such re-entry or taking possession of said Leased Premises by
     Landlord shall be construed as an election in its part to terminate this
     Lease unless a written notice of such intention be given to Tenant or
     unless the termination thereof be decreed by a court of competent
     jurisdiction. Notwithstanding any such reletting without termination,
     Landlord may at any time thereafter elect to terminate this Lease for such
     previous breach. Should Landlord at any time reenter or terminate this
     Lease for any breach, in addition to any other remedies it may have, it may
     recover from Tenant all damages it may incur by reason of such breach,
     including the cost of recovering the Leased Premises and reasonable
     attorney's fees. All which amounts shall be immediately due and payable
     from Tenant to Landlord.

          9.4 PARTIES MAY REMEDY DEFAULTS. In the event of any breach hereunder
     by either party, and in lieu of Landlord's terminating this Lease as herein
     provided, Landlord or Tenant respectively may immediately or at any time
     thereafter, after having given the other party the requisite notice to
     correct the same and that time for such correction having elapsed, cure
     such breach for the account and at the expense of the other party. If
     Landlord or Tenant at any time, by reason of such breach, is compelled to
     pay, or elects

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<PAGE>

     to pay, any sum of money or do any act which will require the payment of
     any sum of money, or incurs any expense, including reasonable attorney's
     fees, in instituting or prosecuting any action or proceeding to enforce
     such party's rights hereunder, the sum or sums so paid or incurred by such
     party, if paid or incurred by Landlord, shall be deemed to be additional
     rent hereunder and shall be due from Tenant to Landlord on the first day of
     the month following the payment of such respective sums, and if paid or
     incurred by Tenant, shall be due and payable by Landlord on demand with
     interest at the rate provided in Section 4.7 hereof. This option is given
     to the parties is intended for their protection and its existence shall not
     release the parties from the obligation to perform the terms and covenants
     herein provided to be performed by the respective parties or deprive
     Landlord of any legal rights which it may have by reason of any default of
     Tenant.

          9.5 LANDLORD'S REMEDIES: LIQUIDATED DAMAGES. In the event that at any
     time, whether before or after the commencement of the Term hereof, a
     bankruptcy petition shall be filed by Tenant or against Tenant and Tenant
     shall thereafter be adjudicated a bankrupt, or such petition shall be
     approved by the court, in any court or pursuant to any statute either of
     the United States or of any State, whether in bankruptcy, insolvency, for
     reorganization under Chapter XI or XIII of the Bankruptcy Act or under any
     other provisions of the Bankruptcy Act, or under the provisions of any law
     of like impact, for the appointment of a receiver or trustee of Tenant or
     for the property of Tenant, or if Tenant shall make an assignment of
     Tenant's property for the benefit of its creditors, or if proceedings are
     instituted in a court of competent jurisdiction for the reorganization,
     liquidation or involuntary dissolution of Tenant, then immediately upon the
     happening of any such event, and without any entry or other act by
     Landlord, this Lease and the Term and estate hereby granted (whether or not
     the Term shall therefore have commenced) shall expire, terminate and come
     to an end in the same manner and with the same force and effect as if the
     date of such occurrence were the date hereinbefore fixed for the expiration
     of the Term hereof. In the event of the termination of the Term hereof by
     the happening of any such event, Landlord shall forthwith upon such
     termination, and any other provisions of this Lease to the contrary
     notwithstanding, become entitled to recover as and for liquidated damages
     caused by such breach of the provisions of this Lease an amount equal to
     the difference between the then cash value of the rent reserved hereunder
     for the unexpired portion of the demised Term and the then cash rental
     value of the Leased Premises for such unexpired portion of the Term hereby
     demised unless the statute which governs or shall govern the proceeding in
     which such damages are to be provided limits or shall be entitled to prove
     as and for liquidated damages an amount equal to that allowed by or under
     such statute. The provision of this section shall be without prejudice to
     Landlord's right to prove in full damages for rent accrued prior to the
     termination of this Lease but not paid. This provision of the Lease shall
     be without prejudice of any rights given Landlord by any pertinent statute
     to prove any amounts allowed thereby. In making such computation, the then
     cash rental value of the Leased Premises shall be deemed prima facie to be
     the rent realized upon any reletting, if such reletting can be accomplished
     by Landlord within a reasonable time after such a termination of this
     Lease.

          9.6 EXPENSES OF LANDLORD. Upon the occurrence of an event of default
     by Tenant, notwithstanding anything herein to the contrary and whether or
     not Landlord

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<PAGE>

     terminates this Lease, or if Landlord is the prevailing party in any action
     to enforce or adjudicate this Lease or determine the rights of the parties
     thereunder, Tenant shall promptly, upon request, reimburse Landlord for all
     costs and expenses reasonably incurred in enforcing this Lease, including
     reasonable attorneys' fees.

          9.7 WAIVER OF REDEMPTION. Tenant hereby expressly waives any and all
     rights of redemption granted by or under any present or future laws in the
     event of Tenant's being evicted or dispossessed for any cause, or in the
     event of Landlord's obtaining possession of the Leased Premises, by reason
     for the violation by Tenant of any of the covenants or conditions of this
     Lease, or otherwise.

          9.8 DEFAULTS OF LANDLORD. Should Landlord be in default under the
     terms of this Lease, Landlord shall cure such default within thirty (30)
     days after written notice of such default from Tenant, or in the event such
     default is of such a character as to require more than thirty (30) days to
     cure, Landlord shall use due diligence to cure such default.

          9.9 RIGHTS CUMULATIVE. All rights and remedies of Landlord and Tenant
     herein enumerated shall be cumulative and none shall exclude any other
     right or remedy allowed by Law, and said rights and remedies may be
     exercised and enforced concurrently and whenever and as often as occasion
     therefor arises.

     10. MISCELLANEOUS

          10.1 SUBORDINATION. At Landlord's option, this Lease shall be
     subordinated to any existing mortgages covering the Leased Premises, any
     extension or renewal thereof, or to any new mortgages which may be placed
     thereon from time to time, provided, however, anything to the contrary
     contained herein notwithstanding, every such mortgage shall contain a
     provision that the mortgagee shall recognize the validity of this Lease in
     the event of foreclosure of the Landlord's interest so long as Tenant shall
     not be in default under the terms of this Lease. Tenant shall execute
     whatever instruments may be required to effect such subordination.

          10.2 SALE OF PROPERTY. Landlord shall have the right at any time to
     sell, transfer or convey its interest in all or any portion(s) of
     Landlord's Property, improvements and buildings of which the Leased
     Premises are a part to any person, firm or corporation whatsoever, and upon
     any such sale, transfer or conveyances, Landlord shall cease to be liable
     under any covenant, condition or obligation imposed upon it by this Lease,
     or any of the terms and provisions thereof; provided, however, that any
     such sale, transfer or conveyance shall be subject to this Lease and that
     all of the Landlord's covenants and obligations contained herein shall be
     binding upon the subsequent owner or owners thereof; and provided further
     that such transferee from Landlord shall in writing assume the obligations
     of Landlord hereunder.

          10.3 OFFSET STATEMENT. Within ten (10) days after request therefor by
     Landlord, or in the event that upon any sale, assignment or hypothecation
     of the Leased Premises and/or all or any portion(s) of the Landlord's
     Property by Landlord an offset statement shall be required by Tenant;
     Tenant agrees to deliver in recordable form a

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<PAGE>

     certificate to any proposed mortgagee or purchaser, or to Landlord,
     certifying (if such be the case) that this Lease is in full force and
     effect and that there are no defenses or offsets thereto, or stating those
     claimed by Tenant.

          10.4 ATTORNMENT. Tenant shall, in the event any proceedings are
     brought for the foreclosure of, or in the event of exercise of the power or
     sale under any mortgage made by the Landlord covering the Leased Premises,
     attorn to the purchaser upon any such foreclosure or sale and recognize
     such purchaser as the Landlord under this Lease.

          10.5 RECORDING. Tenant shall not record this Lease without the written
     consent of Landlord; however, upon the request of either party hereto the
     other party shall join in the execution of memorandum or so called "short
     form" of this Lease for the purpose of recordation. Said memorandum or
     short form of this Lease shall describe the parties, the Leased Premises
     and the Term of this Lease and shall incorporate this Lease by reference.

          10.6 EXCAVATIONS. In case any excavation shall be made for buildings
     or improvements or for any other purpose upon the land adjacent to or near
     the Leased Premises, Tenant will afford to Landlord, or the person or
     persons, firms or corporations causing or making such excavation, license
     to enter upon the Leased Premises for the purpose of doing such work as
     Landlord or such person or persons, firms or corporations shall deem to be
     necessary to preserve the walls or structures of the building from injury,
     and to protect the building by proper securing of foundations. Insofar as
     Landlord may have control over the same, all such work shall be done in a
     manner as will not materially interfere with the operation of Tenant's
     business in the Leased Premises.

          10.7 ACCESS TO LEASED PREMISES. Tenant shall permit Landlord, its
     agents and employees, upon reasonable prior notice, to enter the Leased
     Premises at all reasonable times, for the purpose of making repairs,
     additions or alterations to the building in which the Leased Premises are
     located, or for the purpose of inspecting or for the purpose of posting
     notices of availability for rent without any rebate or abatement of rent
     and without any liability for any loss of occupation or quiet enjoyment of
     the Leased Premises. In addition, upon the request of Landlord, Tenant will
     promptly, within three (3) days of Landlord's request, furnish to Landlord
     copies of all reports, filings and records required to be maintained by
     Tenant with respect to hazardous materials located or used in the Leased
     Premises, including all "Material Safety Data Sheets." The exercise by
     Landlord of any of its rights under this provision shall not be deemed an
     eviction or disturbance of Tenant's use and possession of the Leased
     Premises.

          10.8 QUIET ENJOYMENT. If and so long as Tenant pays the rent reserved
     by this Lease and performs and observes all of the covenants and provisions
     hereof, Tenant shall quietly enjoy the Leased Premises, subject, however,
     to the terms of this Lease.

          10.9 NOTICES. Any notice required or permitted under this Lease shall
     be deemed sufficiently given or served if sent by certified mail to Tenant
     at the address of the Leased Premises, and to Landlord at its office or
     such other place as it may designate in writing, and either party may by
     like written notice at any time and from time to time

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<PAGE>

     designate a different address to which notices shall subsequently be sent.
     Notices given in accordance with these provisions shall be deemed received
     when mailed.

          10.10 HOLDING OVER. In the event Tenant remains in possession of the
     Leased Premises after the expiration of this Lease and without the
     execution of a new Lease, it shall be deemed to be occupying said premises
     as a Tenant from month-to-month, subject to all conditions, provisions and
     obligations of this Lease insofar as the same are applicable to a
     month-to-month tenancy. Nothing in this section shall operate to preclude
     Landlord from removing Tenant from the Leased Premises upon the expiration
     of this Lease.

          10.11 CONSENTS BY LANDLORD. Whenever under this Lease provision is
     made for Tenant securing the written consent or approval of Landlord, such
     consent or approval will not be unreasonably withheld.

          10.12 SUCCESSORS AND ASSIGNS. The terms, covenants and conditions
     hereof shall be binding upon and inure to the successors in interest and
     assigns of the parties hereto.

          10.13 GOVERNMENTAL REGULATIONS. Tenant shall, at Tenant's sole cost
     and expense, comply with all of the requirements of all city, county,
     municipal, state, federal and other applicable governmental authorities,
     now in force, or which may hereafter be in force, pertaining to signs,
     installations, repairs and business operations in the Leased Premises and
     shall faithfully observe all statutes now in force or which may hereafter
     be in force.

          10.14 CERTAIN EXPENSES OF LANDLORD. Any out-of-pocket expenses
     reasonably incurred by Landlord for purposes of considering or acting upon
     any request for consent or waiver under, or modification of, any of the
     provisions of this Lease, including reasonable attorney's fees, shall be
     promptly reimbursed by Tenant upon Landlord's request.

          10.15 FORCE MAJEURE. In the event that either Landlord or Tenant shall
     be delayed or hindered in or prevented from the performance of any act
     required hereunder by reason of strikes, lock outs, labor disputes,
     inability to procure materials, failure of power, restrictive governmental
     laws or regulations, riots, insurrection, war or other reason of a like
     nature not attributable to the negligence or fault of the party delayed in
     performing work or doing acts required under the terms of this Lease, then
     performance of such act shall be excused for the period of the unavoidable
     delay and the period for the performance of any such act shall be extended
     for an equivalent period. Provided, however, that this provision shall not
     operate to excuse Tenant from the timely payment of rent and other payments
     required by the terms of this Lease.

          10.16 GENERAL. Nothing contained in this Lease shall be deemed or
     construed by the parties hereto or by any third party to create the
     relationship of principal and agent or of partnership or of joint venture
     or of any association between Landlord and Tenant, it being expressly
     understood and agreed that neither the method of computation of rent nor

                                       17

<PAGE>

     any other provisions contained in this Lease nor any acts of the parties
     hereto shall be deemed to create any relationship between Landlord and
     Tenant other than the relationship of landlord and tenant. No waiver of any
     default of Tenant or Landlord hereunder shall be implied from any omission
     by Landlord or Tenant any action on account of such default if such default
     persists or is repeated, and no express waiver shall affect any default
     other than the default specified in the express waiver and that only for
     the time and to the extent therein stated. One or more waivers of any
     covenant, term or condition of this Lease by Landlord or Tenant shall not
     be construed as a waiver of a subsequent breach of the same covenant, term
     or conditions. The consent or approval by Landlord to or of any act by
     Tenant requiring the Landlord's consent or approval shall not be deemed to
     waive or render unnecessary Landlord's consent or approval to or of any
     subsequent similar act by Tenant. The invalidity or unenforceability of any
     provision hereof shall not affect or impair any provision. The plural sense
     where there is more than one tenant and to either corporations,
     associations, partnership or individuals, male or females, shall in all
     instances be assumed as though in each case fully expressed. The laws of
     the State of Wisconsin shall govern the validity, performance and
     enforcement of this Lease. The headings contained herein are for
     convenience only and do not define, limit or construe the contents of the
     provisions hereof. All negotiations, representations and understandings
     between the parties are incorporated herein and may be modified or altered
     only by agreement in writing between the parties.

          10.17 NO OPTION. The submission of this Lease for examination does not
     constitute a reservation of or option for the Leased Premises, and this
     Lease shall become effective only upon execution and delivery thereof by
     both parties.

          10.18 PRIOR LEASES SUPERSEDED. This Lease supersedes any and all prior
     Leases by and between Landlord and Tenant with respect to Landlord's
     Property.

     11. ATTACHMENTS

          11.1 ATTACHMENTS. The following are attached hereto and made a part
     hereof with the same force and effect as if set forth in full herein:

               (a)  Exhibit A:   Legal Description of Landlord's Property.

               (b)  Exhibit B-1: Location of Leased Premises.

               (c)  Exhibit B-2: Floor Plan.

               (d)  Exhibit C:   Rent and Other Obligations Schedule

               (e)  Exhibit D:   Rules and Regulations.

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<PAGE>

     IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease and
affixed their respective seals as of the date of execution by Landlord.

LANDLORD:                               TENANT:

UNIVERSITY RESEARCH PARK,               THIRD WAVE TECHNOLOGIES, INC.
INCORPORATED

By: /s/ Mark Bugher                     By: /s/ Kevin T Conroy
    ---------------------------------       ------------------------------------
    Mark D. Bugher
    Assistant Secretary/Treasurer

Date: 7/13/07                           Date: 7/13/07

                                       19

<PAGE>

                                    EXHIBIT A

                    LEGAL DESCRIPTION OF LANDLORD'S PROPERTY

Lots 32, 33 and 34, University Research Park University of Wisconsin-Madison
Second Addition recorded in Volume 57-39B of Plats Pages 146-150 Dane County
Registry located in the NW 1/4 of Section 30, T7N, R9E, City of Madison, Dane
County, Wisconsin, (Containing 498,733 square feet)

                                        1

<PAGE>

                                   EXHIBIT B-1

                           LOCATION OF LEASED PREMISES

<PAGE>

                                   EXHIBIT B-2

                                   FLOOR PLAN

                                  See Attached.

<PAGE>

                                    EXHIBIT C

                       RENT AND OTHER OBLIGATIONS SCHEDULE

<PAGE>

                                    EXHIBIT D

                              RULES AND REGULATIONS

The Premises shall be a smoke-free environment. No smoking shall be permitted
anywhere in the building or in or around the entrances to the building fronting
on S. Rosa Road.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}]]