Document:

<Page>
                                                                   EXHIBIT 10.21

                    PREFERRED SECURITIES GUARANTEE AGREEMENT

                                 BY AND BETWEEN

                           LOCAL FINANCIAL CORPORATION

                                       AND

                              THE BANK OF NEW YORK

                         DATED AS OF SEPTEMBER 20, 2001

<Page>

                                TABLE OF CONTENTS

<Table>
<Caption>

                                                                                                           Page No.

<S>                                                                                                            <C>
ARTICLE I           DEFINITIONS AND INTERPRETATION...............................................................1
         Section 1.1     Definitions and Interpretation..........................................................1

ARTICLE II          TRUST INDENTURE ACT..........................................................................5
         Section 2.1     Trust Indenture Act; Application........................................................5
         Section 2.2     Lists of Holders of Securities..........................................................5
         Section 2.3     Reports by the Guarantee Trustee........................................................5
         Section 2.4     Periodic Reports to Guarantee Trustee...................................................6
         Section 2.5     Evidence of Compliance with Conditions Precedent........................................6
         Section 2.6     Events of Default; Waiver...............................................................6
         Section 2.7     Event of Default; Notice................................................................6

ARTICLE III         POWERS, DUTIES AND RIGHTS OF GUARANTEE TRUSTEE...............................................7
         Section 3.1     Powers and Duties of the Guarantee Trustee..............................................7
         Section 3.2     Certain Rights of Guarantee Trustee.....................................................9
         Section 3.3     Not Responsible for Recitals or Issuance of Guarantee..................................11

ARTICLE IV          GUARANTEE TRUSTEE...........................................................................11
         Section 4.1     Guarantee Trustee; Eligibility.........................................................11
         Section 4.2     Appointment, Removal and Resignation of Guarantee Trustee..............................12

ARTICLE V           GUARANTEE...................................................................................14
         Section 5.1     Guarantee..............................................................................14
         Section 5.2     Waiver of Notice and Demand............................................................14
         Section 5.3     Obligations not Affected...............................................................14
         Section 5.4     Rights of Holders......................................................................15
         Section 5.5     Guarantee of Payment...................................................................15
         Section 5.6     Subrogation............................................................................16
         Section 5.7     Independent Obligations................................................................16

ARTICLE VI          LIMITATION OF TRANSACTIONS; SUBORDINATION...................................................16
         Section 6.1     Limitation of Transactions.............................................................16
         Section 6.2     Ranking................................................................................17

ARTICLE VII         TERMINATION.................................................................................17
         Section 7.1     Termination............................................................................17

ARTICLE VIII        INDEMNIFICATION.............................................................................17
         Section 8.1     Exculpation............................................................................17
         Section 8.2     Indemnification........................................................................18
</Table>

                                      -i-

<Page>

<Table>
<S>                                                                                                           <C>
ARTICLE IX          MISCELLANEOUS...............................................................................18
         Section 9.1     Successors and Assigns.................................................................18
         Section 9.2     Amendments.............................................................................18
         Section 9.3     Notices................................................................................19
         Section 9.4     Benefit................................................................................19
         Section 9.5     Governing Law..........................................................................20
</Table>

                                      -ii-

<Page>

                              CROSS REFERENCE TABLE

<Table>
<Caption>
                Section of Trust               Section of
                Indenture Act of               Guarantee
                 1939, as amended              Agreement

               <S>                                  <C>
                310(a)                               4.1(a)
                310(b)                               4.1(c), 2.8
                310(c)                               Not Applicable
                311(a)                               2.2(b)
                311(b)                               2.2(b)
                311(c)                               Not Applicable
                312(a)                               2.2(a)
                312(b)                               2.2(b)
                313...                               2.3
                314(a)                               2.4
                314(b)                               Not Applicable
                314(c)                               2.5
                314(d)                               Not Applicable
                314(e)                               1.1, 2.5, 3.2
                314(f)                               2.1, 3.2
                315(a)                               3.1(d)
                315(b)                               2.7
                315(c)                               3.1
                315(d)                               3.1(d)
                316(a)                               1.1, 2.6, 5.4
                316(b)                               5.3
                317(a)                               3.1
                317(b)                               Not Applicable
                318(a)                               2.1(a)
                318(b)                               2.1
                318(c)                               2.1(b)
</Table>

                Note: This Cross-Reference Table does not constitute part of
                this Agreement and shall not affect the interpretation of any
                of its terms or provisions.

                                     -iii-

<Page>

                    PREFERRED SECURITIES GUARANTEE AGREEMENT

      This PREFERRED SECURITIES GUARANTEE AGREEMENT (this "Preferred Securities
Guarantee"), dated as of September 20, 2001, is executed and delivered by LOCAL
FINANCIAL CORPORATION, a Delaware corporation (the "Guarantor"), and THE BANK OF
NEW YORK, a New York banking corporation (the "Guarantee Trustee"), for the
benefit of the Holders (as defined herein) from time to time of the Preferred
Securities (as defined herein) of Local Financial Capital Trust I, a Delaware
statutory business trust (the "Trust").

                                    RECITALS

      WHEREAS, pursuant to an Amended and Restated Declaration of Trust (the
"Trust Agreement"), dated as of September 20, 2001, among the trustees of the
Trust named therein, the Guarantor, as sponsor, and the holders from time to
time of undivided beneficial interests in the assets of the Trust, the Trust
is issuing on the date hereof up to 1,400,000 preferred securities, having an
aggregate Liquidation Amount of up to $35,000,000 designated the 9.00%
Cumulative Trust Preferred Securities;

      WHEREAS, as incentive for the Holders to purchase the Preferred
Securities, the Guarantor desires irrevocably and unconditionally to agree, to
the extent set forth in this Preferred Securities Guarantee, to pay to the
Holders of the Preferred Securities the Guarantee Payments (as defined herein)
and to make certain other payments on the terms and conditions set forth herein.

      NOW, THEREFORE, in consideration of the purchase by each Holder of
Preferred Securities, which purchase the Guarantor hereby agrees shall benefit
the Guarantor, the Guarantor executes and delivers this Preferred Securities
Guarantee for the benefit of the Holders.

                                   ARTICLE I

                         DEFINITIONS AND INTERPRETATION

      1.1   DEFINITIONS AND INTERPRETATION.

      In this Preferred Securities Guarantee, unless the context otherwise
requires:

            (a)   capitalized terms used in this Preferred Securities Guarantee
                  but not defined in the preamble above have the respective
                  meanings assigned to them in this Section 1.1;

            (b)   terms defined in the Trust Agreement as at the date of
                  execution of this Preferred Securities Guarantee have the same
                  meaning when used in this

                                      -1-

<Page>

                  Preferred Securities Guarantee, unless otherwise defined in
                  this Preferred Securities Guarantee;

            (c)   a term defined anywhere in this Preferred Securities Guarantee
                  has the same meaning throughout;

            (d)   all references to "the Preferred Securities Guarantee" or
                  "this Preferred Securities Guarantee" are to this Preferred
                  Securities Guarantee as modified, supplemented or amended from
                  time to time;

            (e)   all references in this Preferred Securities Guarantee to
                  Articles and Sections are to Articles and Sections of this
                  Preferred Securities Guarantee, unless otherwise specified;

            (f)   a term defined in the Trust Indenture Act has the same meaning
                  when used in this Preferred Securities Guarantee, unless
                  otherwise defined in this Preferred Securities Guarantee or
                  unless the context otherwise requires; and

            (g)   a reference to the singular includes the plural and VICE
                  VERSA.

      "Affiliate" has the same meaning as given to that term in Rule 405 of the
Securities Act of 1933, as amended, or any successor rule thereunder.

      "Business Day" means any day other than a Saturday, Sunday, a day on which
federal or state banking institutions in New York, New York are authorized or
required by law, executive order or regulation to close or a day on which the
Corporate Trust Office of the Guarantee Trustee is closed for business.

      "Corporate Trust Office" means the office of the Guarantee Trustee at
which the corporate trust business of the Guarantee Trustee shall, at any
particular time, be principally administered, which office at the date of
execution of this Agreement is located 101 Barclay Street, 21st Floor West, New
York, New York 10286, Attention: Corporate Trust Trustee Administration.

      "Covered Person" means any Holder or beneficial owner of Preferred
Securities.

      "Debentures" means the 9.00% Junior Subordinated Debentures due September
30, 2031, the Debenture Issuer held by the Property Trustee of the Trust.

      "Debenture Issuer" means Local Financial Corporation, issuer of the
Debentures under the Indenture.

      "Event of Default" means a default by the Guarantor on any of its payment
or other obligations under this Preferred Securities Guarantee.

                                      -2-

<Page>

      "Guarantee Payments" means the following payments or distributions,
without duplication, with respect to the Preferred Securities, to the extent not
paid or made by the Trust: (i) any accrued and unpaid Distributions that are
required to be paid on such Preferred Securities, to the extent the Trust shall
have funds available therefor, (ii) the redemption price, including all accrued
and unpaid Distributions to the date of redemption (the "Redemption Price"), to
the extent the Trust has funds available therefor, with respect to any Preferred
Securities called for redemption by the Trust, and (iii) upon a voluntary or
involuntary dissolution, winding-up or termination of the Trust (other than in
connection with the distribution of Debentures to the Holders in exchange for
Preferred Securities as provided in the Trust Agreement), the lesser of (a) the
aggregate of the Liquidation Amount and all accrued and unpaid Distributions on
the Preferred Securities to the date of payment, to the extent the Trust shall
have funds available therefor (the "Liquidation Distribution"), and (b) the
amount of assets of the Trust remaining available for distribution to Holders in
liquidation of the Trust.

      "Guarantee Trustee" means The Bank of New York, until a Successor
Guarantee Trustee has been appointed and has accepted such appointment pursuant
to the terms of this Preferred Securities Guarantee and thereafter means each
such Successor Guarantee Trustee.

      "Guarantor" means Local Financial Corporation, a Delaware corporation.

      "Holder" shall mean any holder, as registered on the books and records of
the Trust, of any Preferred Securities; PROVIDED, HOWEVER, that, in determining
whether the holders of the requisite percentage of Preferred Securities have
given any request, notice, consent or waiver hereunder, "Holder" shall not
include the Guarantor, the Guarantee Trustee or any of their respective
Affiliates.

      "Indemnified Person" means the Guarantee Trustee, any Affiliate of the
Guarantee Trustee, or any officers, directors, shareholders, members, partners,
employees, representatives, nominees, custodians or agents of the Guarantee
Trustee.

      "Indenture" means the Indenture dated as of September 20, 2001, among the
Debenture Issuer and The Bank of New York, as trustee, and any indenture
supplemental thereto pursuant to which the Debentures are to be issued to the
Property Trustee of the Trust.

      "Liquidation Amount" means the stated value of $25 per Preferred Security.

      "Liquidation Distribution" has the meaning provided therefor in the
definition of Guarantee Payments.

      "Majority in Liquidation Amount of the Preferred Securities" means the
holders of more than 50% of the Liquidation Amount of all of the Preferred
Securities.

      "Officers' Certificate" means, with respect to any Person, a certificate
signed by two authorized officers of such Person, at least one of whom shall be
the principal executive officer, principal financial officer, principal
accounting officer, treasurer or any vice president of such

                                      -3-

<Page>

Person. Any Officers' Certificate delivered with respect to compliance with a
condition or covenant provided for in this Preferred Securities Guarantee shall
include:

            (a)   a statement that each officer signing the Officers'
                  Certificate has read the covenant or condition and the
                  definition relating thereto;

            (b)   a brief statement of the nature and scope of the examination
                  or investigation undertaken by each officer in rendering the
                  Officers' Certificate;

            (c)   a statement that each such officer has made such examination
                  or investigation as, in such officer's opinion, is necessary
                  to enable such officer to express an informed opinion as to
                  whether or not such covenant or condition has been complied
                  with; and

            (d)   a statement as to whether, in the opinion of each such
                  officer, such condition or covenant has been complied with.

      "Person" means a legal person, including any individual, corporation,
estate, partnership, joint venture, association, joint stock company, limited
liability company, trust, unincorporated association, or government or any
agency or political subdivision thereof, or any other entity of whatever nature.

      "Preferred Securities" means the 9.00% Cumulative Trust Preferred
Securities representing undivided beneficial interests in the assets of the
Trust which rank PARI PASSU with Common Securities issued by the Trust;
provided, however, that upon the occurrence of an Event of Default, the rights
of holders of Common Securities to payment in respect of distributions and
payments upon liquidation, redemption and otherwise are subordinated to the
rights of holders of Preferred Securities.

      "Redemption Price" has the meaning provided therefor in the definition of
Guarantee Payments.

      "Responsible Officer" means, with respect to the Guarantee Trustee, any
officer within the Corporate Trust Office of the Guarantee Trustee with direct
responsibility for the administration of this Preferred Securities Guarantee,
including any vice-president, any assistant vice-president, any assistant
secretary or other officer or assistant officer of the Guarantee Trustee
customarily performing functions similar to those performed by any of the above
designated officers and also means, with respect to a particular corporate trust
matter, any other officer to whom such matter is referred because of that
officer's knowledge of and familiarity with the particular subject.

      "Successor Guarantee Trustee" means a successor Guarantee Trustee
possessing the qualifications to act as Guarantee Trustee under Section 4.1.

                                      -4-

<Page>

      "Trust Indenture Act" means the Trust Indenture Act of 1939, as amended.

                                   ARTICLE II

                               TRUST INDENTURE ACT

      2.1   TRUST INDENTURE ACT; APPLICATION.

            (a)   This Preferred Securities Guarantee is subject to the
                  provisions of the Trust Indenture Act that are required to be
                  part of this Preferred Securities Guarantee and shall, to the
                  extent applicable, be governed by such provisions.

            (b)   If and to the extent that any provision of this Preferred
                  Securities Guarantee limits, qualifies or conflicts with the
                  duties imposed by Section 310 to 317, inclusive, of the Trust
                  Indenture Act, such imposed duties shall control.

      2.2   LISTS OF HOLDERS OF SECURITIES.

            (a)   In the event the Guarantee Trustee is not also acting in the
                  capacity of the Property Trustee under the Trust Agreement,
                  the Guarantor shall cause to be provided to the Guarantee
                  Trustee a list, in such form as the Guarantee Trustee may
                  reasonably require, of the names and addresses of the Holders
                  of the Preferred Securities ("List of Holders") as of the date
                  (i) within one Business Day after March 15, June 15, September
                  15 and December 15, and (ii) at any other time within 30 days
                  of receipt by the Guarantor of a written request for a List of
                  Holders as of a date no more than 15 days before such List of
                  Holders is given to the Guarantee Trustee; PROVIDED, that the
                  Guarantor shall not be obligated to provide such List of
                  Holders at any time the List of Holders does not differ from
                  the most recent List of Holders caused to have been given to
                  the Guarantee Trustee by the Guarantor. The Guarantee Trustee
                  may destroy any List of Holders previously given to it on
                  receipt of a new List of Holders.

            (b)   The Guarantee Trustee shall comply with its obligations under
                  Sections 311(a), 311(b) and Section 312(b) of the Trust
                  Indenture Act.

      2.3   REPORTS BY THE GUARANTEE TRUSTEE.

      On or before July 31 of each year, commencing July 31, 2002 the Guarantee
Trustee shall provide to the Holders of the Preferred Securities such reports as
are required by Section 313 of the

                                      -5-

<Page>

Trust Indenture Act, if any, in the form and in the manner provided by Section
313 of the Trust Indenture Act. The Guarantee Trustee shall also comply with the
requirements of Section 313(d) of the Trust Indenture Act.

      2.4   PERIODIC REPORTS TO GUARANTEE TRUSTEE.

      The Guarantor shall provide to the Guarantee Trustee such documents,
reports and information as required by Section 314 (if any) and the compliance
certificate required by Section 314 of the Trust Indenture Act in the form, in
the manner and at the times required by Section 314 of the Trust Indenture Act.

      2.5   EVIDENCE OF COMPLIANCE WITH CONDITIONS PRECEDENT.

      The Guarantor shall provide to the Guarantee Trustee such evidence of
compliance with any conditions precedent, if any, provided for in this Preferred
Securities Guarantee that relate to any of the matters set forth in Section
314(c) of the Trust Indenture Act. Any certificate or opinion required to be
given by an officer pursuant to Section 314(c)(1) may be given in the form of an
Officers' Certificate.

      2.6   EVENTS OF DEFAULT; WAIVER.

      The Holders of a Majority in liquidation amount of Preferred Securities
may, by vote, on behalf of the Holders of all of the Preferred Securities, waive
any past Event of Default and its consequences. Upon such waiver, any such Event
of Default shall cease to exist, and any Event of Default arising therefrom
shall be deemed to have been cured, for every purpose of this Preferred
Securities Guarantee, but no such waiver shall extend to any subsequent or other
default or Event of Default or impair any right consequent thereon.

      2.7   EVENT OF DEFAULT; NOTICE.

            (a)   The Guarantee Trustee shall, within 90 days after the
                  occurrence of an Event of Default, transmit by mail, first
                  class postage prepaid, to the Holders of the Preferred
                  Securities, notices of all Events of Default actually known to
                  a Responsible Officer of the Guarantee Trustee, unless such
                  defaults have been cured before the giving of such notice;
                  PROVIDED, that, except in the case of a default by Guarantor
                  on any of its payment obligations, the Guarantee Trustee shall
                  be protected in withholding such notice if and so long as a
                  Responsible Officer of the Guarantee Trustee in good faith
                  determines that the withholding of such notice is in the
                  interests of the Holders of the Preferred Securities.

            (b)   The Guarantee Trustee shall not be deemed to have knowledge of
                  any Event of Default unless the Guarantee Trustee shall have
                  received written notice, or of which a Responsible Officer of
                  the Guarantee Trustee charged with the administration of the
                  Trust Agreement shall have obtained actual knowledge.

                                      -6-

<Page>

      2.8   Conflicting Interests.

      The Trust Agreement shall be deemed to be specifically described in this
Preferred Securities Guarantee for the purposes of clause (i) of the first
proviso contained in Section 310(b) of the Trust Indenture Act.

                                  ARTICLE III

                 POWERS, DUTIES AND RIGHTS OF GUARANTEE TRUSTEE

      3.1   POWERS AND DUTIES OF THE GUARANTEE TRUSTEE.

            (a)   This Preferred Securities Guarantee shall be held by the
                  Guarantee Trustee for the benefit of the Holders of the
                  Preferred Securities, and the Guarantee Trustee shall not
                  transfer this Preferred Securities Guarantee to any Person
                  except a Holder of Preferred Securities exercising his or her
                  rights pursuant to Section 5.4(b) or to a Successor Guarantee
                  Trustee on acceptance by such Successor Guarantee Trustee of
                  its appointment to act as Successor Guarantee Trustee. The
                  right, title and interest of the Guarantee Trustee shall
                  automatically vest in any Successor Guarantee Trustee, and
                  such vesting and cessation of title shall be effective whether
                  or not conveyancing documents have been executed and delivered
                  pursuant to the appointment of such Successor Guarantee
                  Trustee.

            (b)   If an Event of Default actually known to a Responsible Officer
                  of the Guarantee Trustee has occurred and is continuing, the
                  Guarantee Trustee shall enforce this Preferred Securities
                  Guarantee for the benefit of the Holders of the Preferred
                  Securities.

            (c)   The Guarantee Trustee, before the occurrence of any Event of
                  Default and after the curing of all Events of Default that may
                  have occurred, shall undertake to perform only such duties as
                  are specifically set forth in this Preferred Securities
                  Guarantee, and no implied covenants shall be read into this
                  Preferred Securities Guarantee against the Guarantee Trustee.
                  In case an Event of Default has occurred (that has not been
                  cured or waived pursuant to Section 2.6) and is actually known
                  to a Responsible Officer of the Guarantee Trustee, the
                  Guarantee Trustee shall exercise such of the rights and powers
                  vested in it by this Preferred Securities Guarantee, and use
                  the same degree of care and skill in its exercise thereof, as
                  a prudent person would exercise or use under the circumstances
                  in the conduct of his or her own affairs.

             (d)  No provision of this Preferred Securities Guarantee shall be
                  construed to relieve the Guarantee Trustee from liability for
                  its own negligent action, its own negligent failure to act, or
                  its own willful misconduct, except that:

                                      -7-

<Page>

                  (i)   prior to the occurrence of any Event of Default and
                        after the curing or waiving of all such Events of
                        Default that may have occurred:

                        (A)   the duties and obligations of the Guarantee
                              Trustee shall be determined solely by the express
                              provisions of this Preferred Securities Guarantee,
                              and the Guarantee Trustee shall not be liable
                              except for the performance of such duties and
                              obligations as are specifically set forth in this
                              Preferred Securities Guarantee, and no implied
                              covenants or obligations shall be read into this
                              Preferred Securities Guarantee against the
                              Guarantee Trustee; and

                        (B)   in the absence of bad faith on the part of the
                              Guarantee Trustee, the Guarantee Trustee may
                              conclusively rely, as to the truth of the
                              statements and the correctness of the opinions
                              expressed therein, upon any certificates or
                              opinions furnished to the Guarantee Trustee and
                              conforming to the requirements of this Preferred
                              Securities Guarantee; but in the case of any such
                              certificates or opinions that by any provision
                              hereof are specifically required to be furnished
                              to the Guarantee Trustee, the Guarantee Trustee
                              shall be under a duty to examine the same to
                              determine whether or not they conform to the
                              requirements of this Preferred Securities
                              Guarantee;

                  (ii)  the Guarantee Trustee shall not be liable for any error
                        of judgment made in good faith by a Responsible Officer
                        of the Guarantee Trustee, unless it shall be proved that
                        the Guarantee Trustee was negligent in ascertaining the
                        pertinent facts upon which such judgment was made;

                  (iii) the Guarantee Trustee shall not be liable with respect
                        to any action taken or omitted to be taken by it in good
                        faith in accordance with the direction of the Holders of
                        not less than a Majority in Liquidation Amount of the
                        Preferred Securities relating to the time, method and
                        place of conducting any proceeding for any remedy
                        available to the Guarantee Trustee, or exercising any
                        trust or power conferred upon the Guarantee Trustee
                        under this Preferred Securities Guarantee; and

                                      -8-

<Page>

                  (iv)  no provision of this Preferred Securities Guarantee
                        shall require the Guarantee Trustee to expend or risk
                        its own funds or otherwise incur personal financial
                        liability in the performance of any of its duties or in
                        the exercise of any of its rights or powers, if the
                        Guarantee Trustee shall have reasonable grounds for
                        believing that the repayment of such funds or liability
                        is not reasonably assured to it under the terms of this
                        Preferred Securities Guarantee or indemnity, reasonably
                        satisfactory to the Guarantee Trustee, against such risk
                        or liability is not reasonably assured to it.

      3.2   CERTAIN RIGHTS OF GUARANTEE TRUSTEE.

            (a)   Subject to the provisions of Section 3.1:

                  (i)   the Guarantee Trustee may conclusively rely, and shall
                        be fully protected in acting or refraining from acting
                        upon, any resolution, certificate, statement,
                        instrument, opinion, report, notice, request, direction,
                        consent, order, bond, debenture, note, other evidence of
                        indebtedness or other paper or document believed by it
                        to be genuine and to have been signed, sent or presented
                        by the proper party or parties;

                  (ii)  Any direction or act of the Guarantor contemplated by
                        this Preferred Securities Guarantee shall be
                        sufficiently evidenced by an Officers' Certificate;

                  (iii) whenever, in the administration of this Preferred
                        Securities Guarantee, the Guarantee Trustee shall deem
                        it desirable that a matter be proved or established
                        before taking, suffering or omitting any action
                        hereunder, the Guarantee Trustee (unless other evidence
                        is herein specifically prescribed) may, in the absence
                        of bad faith on its part, request and conclusively rely
                        upon an Officers' Certificate which, upon receipt of
                        such request, shall be promptly delivered by the
                        Guarantor;

                  (iv)  the Guarantee Trustee shall have no duty to see to any
                        recording, filing or registration of any instrument (or
                        any rerecording, refiling or registration thereof);

                  (v)   the Guarantee Trustee may consult with counsel, and the
                        written advice or opinion of such counsel with respect
                        to legal matters shall be full and complete
                        authorization and protection in respect of any action
                        taken, suffered or omitted by it hereunder in good faith
                        and in accordance with such advice or opinion. Such
                        counsel

                                      -9-

<Page>

                        may be counsel to the Guarantor or any of its Affiliates
                        and may include any of its employees. The Guarantee
                        Trustee shall have the right at any time to seek
                        instructions concerning the administration of this
                        Preferred Securities Guarantee from any court of
                        competent jurisdiction;

                  (vi)  the Guarantee Trustee shall be under no obligation to
                        exercise any of the rights or powers vested in it by
                        this Preferred Securities Guarantee at the request or
                        direction of any Holder, unless such Holder shall have
                        provided to the Guarantee Trustee such security and
                        indemnity, reasonably satisfactory to the Guarantee
                        Trustee, against the costs, expenses (including
                        attorneys' fees and expenses and the expenses of the
                        Guarantee Trustee's agents, nominees or custodians) and
                        liabilities that might be incurred by it in complying
                        with such request or direction, including such
                        reasonable advances as may be requested by the Guarantee
                        Trustee; PROVIDED that, nothing contained in this
                        Section 3.2(a)(vi) shall be taken to relieve the
                        Guarantee Trustee, upon the occurrence of an Event of
                        Default, of its obligation to exercise the rights and
                        powers vested in it by this Preferred Securities
                        Guarantee;

                  (vii) the Guarantee Trustee shall not be bound to make any
                        investigation into the facts or matters stated in any
                        resolution, certificate, statement, instrument, opinion,
                        report, notice, request, direction, consent, order,
                        bond, debenture, note, other evidence of indebtedness or
                        other paper or document, but the Guarantee Trustee, in
                        its discretion, may make such further inquiry or
                        investigation into such facts or matters as it may see
                        fit;

                  (viii) the Guarantee Trustee may execute any of the trusts or
                        powers hereunder or perform any duties hereunder either
                        directly or by or through agents, nominees, custodians
                        or attorneys, and the Guarantee Trustee shall not be
                        responsible for any misconduct or negligence on the part
                        of any agent or attorney appointed with due care by it
                        hereunder;

                  (ix)  no third party shall be required to inquire as to the
                        authority of the Guarantee Trustee to so act or as to
                        its compliance with any of the terms and provisions of
                        this Preferred Securities Guarantee, both of which shall
                        be conclusively evidenced by the Guarantee Trustee's or
                        its agent's taking such action; and

                  (x)   whenever in the administration of this Preferred
                        Securities Guarantee the Guarantee Trustee shall deem it
                        desirable to receive

                                      -10-

<Page>

                        instructions with respect to enforcing any remedy or
                        right or taking any other action hereunder, the
                        Guarantee Trustee (i) may request instructions from the
                        Holders of a Majority in Liquidation Amount of the
                        Preferred Securities, (ii) may refrain from enforcing
                        such remedy or right or taking such other action until
                        such instructions are received, and (iii) shall be
                        protected in conclusively relying on or acting in
                        accordance with such instructions.

            (b)   No provision of this Preferred Securities Guarantee shall be
                  deemed to impose any duty or obligation on the Guarantee
                  Trustee to perform any act or acts or exercise any right,
                  power, duty or obligation conferred or imposed on it in any
                  jurisdiction in which it shall be illegal, or in which the
                  Guarantee Trustee shall be unqualified or incompetent in
                  accordance with applicable law, to perform any such act or
                  acts or to exercise any such right, power, duty or obligation.
                  No permissive power or authority available to the Guarantee
                  Trustee shall be construed to be a duty.

      3.3   NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF GUARANTEE.

      The Recitals contained in this Guarantee shall be taken as the statements
of the Guarantor, and the Guarantee Trustee does not assume any responsibility
for their correctness. The Guarantee Trustee makes no representation as to the
validity or sufficiency of this Preferred Securities Guarantee.

                                   ARTICLE IV

                                GUARANTEE TRUSTEE

      4.1   GUARANTEE TRUSTEE; ELIGIBILITY.

            (a)   There shall at all times be a Guarantee Trustee which shall:

                  (i)   not be an Affiliate of the Guarantor; and

                  (ii)  be a corporation organized and doing business under the
                        laws of the United States of America or any state or
                        territory thereof or of the District of Columbia, or a
                        corporation or Person permitted by the Securities and
                        Exchange Commission to act as an institutional trustee
                        under the Trust Indenture Act, authorized under such
                        laws to exercise corporate trust powers, having a
                        combined capital and surplus of at least $50,000,000,
                        and subject to supervision or examination by federal,
                        state, territorial or District of Columbia authority. If
                        such corporation publishes reports of condition at least
                        annually, pursuant to law or to the requirements of the

                                      -11-
<Page>

                        supervising or examining authority referred to above,
                        then, for the purposes of this Section 4.1(a)(ii), the
                        combined capital and surplus of such corporation shall
                        be deemed to be its combined capital and surplus as set
                        forth in its most recent report of condition so
                        published.

            (b)   If at any time the Guarantee Trustee shall cease to be
                  eligible to so act under Section 4.1(a), the Guarantee Trustee
                  shall immediately resign in the manner and with the effect set
                  out in Section 4.2(c).

            (c)   If the Guarantee Trustee has or shall acquire any "conflicting
                  interest" within the meaning of Section 310(b) of the Trust
                  Indenture Act, the Guarantee Trustee and Guarantor shall in
                  all respects comply with the provisions of Section 310(b) of
                  the Trust Indenture Act.

      4.2   APPOINTMENT, REMOVAL AND RESIGNATION OF GUARANTEE TRUSTEE.

            (a)   Subject to Section 4.2(b), the Guarantee Trustee may be
                  appointed or removed without cause at any time by the
                  Guarantor.

            (b)   The Guarantee Trustee shall not be removed in accordance with
                  Section 4.2(a) until a Successor Guarantee Trustee has been
                  appointed and has accepted such appointment by written
                  instrument executed by such Successor Guarantee Trustee and
                  delivered to the Guarantor.

            (c)   The Guarantee Trustee appointed to office shall hold office
                  until a Successor Guarantee Trustee shall have been appointed
                  or until its removal or resignation. The Guarantee Trustee may
                  resign from office (without need for prior or subsequent
                  accounting) by an instrument in writing executed by the
                  Guarantee Trustee and delivered to the Guarantor, which
                  resignation shall not take effect until a Successor Guarantee
                  Trustee has been appointed and has accepted such appointment
                  by instrument in writing executed by such Successor Guarantee
                  Trustee and delivered to the Guarantor and the resigning
                  Guarantee Trustee.

            (d)   If no Successor Guarantee Trustee shall have been appointed
                  and accepted appointment as provided in this Section 4.2
                  within 60 days after delivery to the Guarantor of an
                  instrument of resignation, the resigning Guarantee Trustee may
                  petition any court of competent jurisdiction for appointment
                  of a Successor Guarantee Trustee. Such court may thereupon,
                  after prescribing such notice, if any, as it may deem proper,
                  appoint a Successor Guarantee Trustee.

            (e)   No Guarantee Trustee shall be liable for the acts or omissions
                  to act of any Successor Guarantee Trustee.

                                      -12-

<Page>

            (f)   Upon termination of this Preferred Securities Guarantee or
                  removal or resignation of the Guarantee Trustee pursuant to
                  this Section 4.2, the Guarantor shall pay to the Guarantee
                  Trustee all fees and expenses accrued to the date of such
                  termination, removal or resignation.

                                   ARTICLE V

                                    GUARANTEE

      5.1   GUARANTEE.

      The Guarantor irrevocably and unconditionally agrees to pay in full to the
Holders the Guarantee Payments (without duplication of amounts theretofore paid
by the Trust), as and when due, regardless of any defense, right of set-off or
counterclaim that the Trust may have or assert. The Guarantor's obligation to
make a Guarantee Payment may be satisfied by direct payment of the required
amounts by the Guarantor to the Holders or by causing the Trust to pay such
amounts to the Holders.

      5.2   WAIVER OF NOTICE AND DEMAND.

      The Guarantor hereby waives notice of acceptance of this Preferred
Securities Guarantee and of any liability to which it applies or may apply,
presentment, demand for payment, any right to require a proceeding first against
the Trust or any other Person before proceeding against the Guarantor, protest,
notice of nonpayment, notice of dishonor, notice of redemption and all other
notices and demands.

      5.3   OBLIGATIONS NOT AFFECTED.

      The obligations, covenants, agreements and duties of the Guarantor under
this Preferred Securities Guarantee shall in no way be affected or impaired by
reason of the happening from time to time of any of the following:

            (a)   the release or waiver, by operation of law or otherwise, of
                  the performance or observance by the Trust of any express or
                  implied agreement, covenant, term or condition relating to the
                  Preferred Securities to be performed or observed by the Trust;

            (b)   the extension of time for the payment by the Trust of all or
                  any portion of the Distributions, Redemption Price,
                  Liquidation Distribution or any other sums payable under the
                  terms of the Preferred Securities or the extension of time for
                  the performance of any other obligation under, arising out of,
                  or in connection with, the Preferred Securities (other than an
                  extension of time for payment of Distributions, Redemption
                  Price, Liquidation Distribution or other sum payable that
                  results from the extension of any interest payment period on
                  the Debentures or any extension of the maturity date of the
                  Debentures permitted by the Indenture);

            (c)   any failure, omission, delay or lack of diligence on the part
                  of the Holders to enforce, assert or exercise any right,
                  privilege, power or remedy conferred on the Holders pursuant
                  to the terms of the Preferred Securities,

                                      -13-

<Page>

                  or any action on the part of the Trust granting indulgence or
                  extension of any kind;

            (d)   the voluntary or involuntary liquidation, dissolution, sale of
                  any collateral, receivership, insolvency, bankruptcy,
                  assignment for the benefit of creditors, reorganization,
                  arrangement, composition or readjustment of debt of, or other
                  similar proceedings affecting, the Trust or any of the assets
                  of the Trust;

            (e)   any invalidity of, or defect or deficiency in, the Preferred
                  Securities;

            (f)   any failure or omission to receive any regulatory approval or
                  consent required in connection with the Preferred Securities
                  (or the common equity securities issued by the Trust),
                  including the failure to receive any approval of the Board of
                  Governors of the Federal Reserve System required for the
                  redemption of the Preferred Securities;

            (g)   the settlement or compromise of any obligation guaranteed
                  hereby or hereby incurred; or

            (h)   any other circumstance whatsoever that might otherwise
                  constitute a legal or equitable discharge or defense of a
                  guarantor, it being the intent of this Section 5.3 that the
                  obligations of the Guarantor hereunder shall be absolute and
                  unconditional under any and all circumstances.

      There shall be no obligation of the Holders to give notice to, or obtain
consent of, the Guarantor with respect to the happening of any of the foregoing.

      5.4   RIGHTS OF HOLDERS.

            (a)   Subject to Section 5.4(b), the Holders of a Majority in
                  liquidation amount of the Preferred Securities have the right
                  to direct the time, method and place of conducting of any
                  proceeding for any remedy available to the Guarantee Trustee
                  in respect of this Preferred Securities Guarantee or
                  exercising any trust or power conferred upon the Guarantee
                  Trustee under this Preferred Securities Guarantee.

            (b)   Any Holder of Preferred Securities may institute and prosecute
                  a legal proceeding directly against the Guarantor to enforce
                  its rights under this Preferred Securities Guarantee, without
                  first instituting a legal proceeding against the Trust, the
                  Guarantee Trustee or any other Person.

      5.5   GUARANTEE OF PAYMENT.

      This Preferred Securities Guarantee creates a guarantee of payment and not
of collection.

                                      -14-

<Page>

      5.6   SUBROGATION.

      The Guarantor shall be subrogated to all (if any) rights of the Holders of
Preferred Securities against the Trust in respect of any amounts paid to such
Holders by the Guarantor under this Preferred Securities Guarantee; PROVIDED,
HOWEVER, that the Guarantor shall not (except to the extent required by
mandatory provisions of law) be entitled to enforce or exercise any right that
it may acquire by way of subrogation or any indemnity, reimbursement or other
agreement, in all cases as a result of payment under this Preferred Securities
Guarantee, if, at the time of any such payment, any amounts are due and unpaid
under this Preferred Securities Guarantee. If any amount shall be paid to the
Guarantor in violation of the preceding sentence, the Guarantor agrees to hold
such amount in trust for the Holders and to pay over such amount to the Holders.

      5.7   INDEPENDENT OBLIGATIONS.

      The Guarantor acknowledges that its obligations hereunder are independent
of the obligations of the Trust with respect to the Preferred Securities, and
that the Guarantor shall be liable as principal and as debtor hereunder to make
Guarantee Payments pursuant to the terms of this Preferred Securities Guarantee
notwithstanding the occurrence of any event referred to in subsections (a)
through (h), inclusive, of Section 5.3 hereof.

                                   ARTICLE VI

                    LIMITATION OF TRANSACTIONS; SUBORDINATION

      6.1   LIMITATION OF TRANSACTIONS.

      So long as any Preferred Securities remain outstanding, if there shall
have occurred an Event of Default under this Preferred Securities Guarantee,
an event of default under the Trust Agreement or during an Extended Interest
Payment Period (as defined in the Indenture), then the Guarantor shall not
(i) declare or pay any dividend on, make any distributions with respect to,
or redeem, purchase, acquire or make a liquidation payment with respect to,
any of its capital stock (other than as a result of a reclassification of its
capital stock for another class of its capital stock), (ii) make any payment
of interest or principal on or repay, repurchase or redeem any debt
securities issued by the Guarantor which rank PARI PASSU with or junior to
the Debentures (iii) make any guarantee payments with respect to any of the
foregoing (other than (a) dividends or distributions in shares of, or
options, warrants, rights to subscribe for or purchase shares of, common
stock of the Guarantor, (b) any declaration of a non-cash dividend in
connection with the implementation of a stockholders' rights plan, or the
issuance of stock under any such plan in the future, or the redemption or
repurchase of any such rights pursuant thereto, (c) payments under this
Preferred Securities Guarantee, (d) the purchase of fractional shares
resulting from a reclassification of the Guarantor's capital stock, (e) the
purchase of fractional interests in shares of the Guarantor's capital stock
pursuant to the conversion or exchange provisions of such

                                      -15-

<Page>

capital stock or the security being converted or exchanged and (f) purchases of
common stock related to the issuance of common stock or rights under any of the
Guarantor's benefit plans for its directors, officers or employees or any of the
Guarantor's dividend reinvestment plans).

      6.2   RANKING.

      This Preferred Securities Guarantee will constitute an unsecured
obligation of the Guarantor and will rank subordinate and junior in right of
payment to all Senior Debt, Subordinated Debt and Additional Senior Obligations,
of the Guarantor (as defined in the Indenture), to the extent and in the manner
set forth in the Indenture, and the applicable provisions of the Indenture will
apply, in all relevant respects, to the obligations of the Guarantor hereunder.

                                   ARTICLE VII

                                   TERMINATION

      7.1   TERMINATION.

      This Preferred Securities Guarantee shall terminate upon (i) full payment
of the Redemption Price of all Preferred Securities, (ii) upon full payment of
the amounts payable in accordance with the Trust Agreement upon liquidation of
the Trust, or (iii) upon distribution of the Debentures to the Holders of the
Preferred Securities. Notwithstanding the foregoing, this Preferred Securities
Guarantee shall continue to be effective or shall be reinstated, as the case may
be, if at any time any Holder of Preferred Securities must restore payment of
any sums paid under the Preferred Securities or under this Preferred Securities
Guarantee.

                                  ARTICLE VIII

                                 INDEMNIFICATION

      8.1   EXCULPATION.

            (a)   No Indemnified Person shall be liable, responsible or
                  accountable in damages or otherwise to the Guarantor or any
                  Covered Person for any loss, damage or claim incurred by
                  reason of any act or omission performed or omitted by such
                  Indemnified Person in good faith in accordance with this
                  Preferred Securities Guarantee and in a manner that such
                  Indemnified Person reasonably believed to be within the scope
                  of the authority conferred on such Indemnified

                                      -16-

<Page>

                  Person by this Preferred Securities Guarantee or by law,
                  except that an Indemnified Person shall be liable for any such
                  loss, damage or claim incurred by reason of such Indemnified
                  Person's negligence or willful misconduct with respect to such
                  acts or omissions.

            (b)   An Indemnified Person shall be fully protected in relying in
                  good faith upon the records of the Guarantor and upon such
                  information, opinions, reports or statements presented to the
                  Guarantor by any Person as to matters the Indemnified Person
                  reasonably believes are within such other Person's
                  professional or expert competence and who has been selected
                  with reasonable care by or on behalf of the Guarantor,
                  including information, opinions, reports or statements as to
                  the value and amount of the assets, liabilities, profits,
                  losses, or any other facts pertinent to the existence and
                  amount of assets from which Distributions to Holders of
                  Preferred Securities might properly be paid.

      8.2   INDEMNIFICATION.

      The Guarantor agrees to indemnify each Indemnified Person for, and to hold
each Indemnified Person harmless against, any loss, liability or expense
incurred without negligence or bad faith on its part, arising out of or in
connection with the acceptance or administration of the trust or trusts
hereunder, including the costs and expenses (including reasonable legal fees and
expenses) of defending itself against, or investigating, any claim or liability
in connection with the exercise or performance of any of its powers or duties
hereunder. The obligation to indemnify as set forth in this Section 8.2 shall
survive the termination of this Preferred Securities Guarantee.

                                   ARTICLE IX

                                  MISCELLANEOUS

      9.1   SUCCESSORS AND ASSIGNS.

      All guarantees and agreements contained in this Preferred Securities
Guarantee shall bind the successors, assigns, receivers, trustees and
representatives of the Guarantor and shall inure to the benefit of the Holders
of the Preferred Securities then outstanding.

      9.2   AMENDMENTS.

      Except with respect to any changes that do not materially adversely affect
the rights of Holders (in which case no consent of Holders will be required),
this Preferred Securities Guarantee may only be amended with the prior approval
of the Holders of at least a Majority in Liquidation Amount of the Preferred
Securities. The provisions of Article VI of the Trust Agreement with respect to
meetings of Holders of the Preferred Securities apply to the giving of such
approval.

                                      -17-

<Page>

      9.3   NOTICES.

      All notices provided for in this Preferred Securities Guarantee shall be
in writing, duly signed by the party giving such notice, and shall be delivered,
telecopied or mailed by registered or certified mail, as follows:

            (a)   If given to the Guarantee Trustee, at the Guarantee Trustee's
                  mailing address set forth below (or such other address as the
                  Guarantee Trustee may give notice of to the Holders of the
                  Preferred Securities):

                  The Bank of New York
                  101 Barclay Street
                  21st Floor West
                  New York, New York 10286

                  Attention:  Corporate Trust Trustee Administration

            (b)   If given to the Guarantor, at the Guarantor's mailing address
                  set forth below (or such other address as the Guarantor may
                  give notice of to the Holders of the Preferred Securities):

                  Local Financial Corporation
                  3601 NW 63rd Street
                  Oklahoma City, Oklahoma 73116
                  Attention:  Jan A. Norton, President

            (c)   If given to any Holder of Preferred Securities, at the address
                  set forth on the books and records of the Trust.

      All such notices shall be deemed to have been given when received in
person, telecopied with receipt confirmed, or mailed by first class mail,
postage prepaid except that if a notice or other document is refused delivery or
cannot be delivered because of a changed address of which no notice was given,
such notice or other document shall be deemed to have been delivered on the date
of such refusal or inability to deliver.

      9.4   BENEFIT.

      This Preferred Securities Guarantee is solely for the benefit of the
Holders of the Preferred Securities and, subject to Section 3.1(a), is not
separately transferable from the Preferred Securities.

                                      -18-

<Page>

      9.5   GOVERNING LAW.

      THIS PREFERRED SECURITIES GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE.

                                      -19-

<Page>

      This Preferred Securities Guarantee is executed as of the day and year
first above written.

LOCAL FINANCIAL CORPORATION, as Guarantor

By:  /s/ Richard L. Park
   ----------------------------
Its: Chief Financial Officer

THE BANK OF NEW YORK,
     as Guarantee Trustee

By:  /s/ Cassandra Shedd
   ----------------------------
Its: Assistant Vice President

                                      -20-<PAGE>

                                                            Exhibit No. 10.17

     CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE SECURITIES
              AND EXCHANGE COMMISSION. ASTERISKS DENOTE OMISSIONS.

                              AMENDED AND RESTATED

                             COLLABORATION AGREEMENT

                                     BETWEEN

                             COR THERAPEUTICS, INC.

                                       AND

                           KYOWA HAKKO KOGYO CO., LTD.

                                DECEMBER 11, 2001

<PAGE>

                  AMENDED AND RESTATED COLLABORATION AGREEMENT

         THIS AMENDED AND RESTATED COLLABORATION AGREEMENT ("Agreement") is made
effective as of the 11th day of December, 2001 (the "Amendment and Restatement
Effective Date") by and between COR Therapeutics, Inc., a Delaware corporation
having its principal place of business at 256 East Grand Avenue, South San
Francisco, California, U.S.A. 94080 ("COR") and Kyowa Hakko Kogyo Co., Ltd., a
Japanese corporation having its principal place of business at 1-6-1 Ohtemachi,
Chiyoda-ku, Tokyo, Japan ("Kyowa Hakko").

                                    RECITALS

         1. COR and Kyowa Hakko entered into that certain Collaboration
Agreement, dated as of November 30, 1992, as amended effective May 9, 1994, July
13, 1994, August 1, 1995, November 10, 1995, December 17, 1996, December 1, 1997
and November 30, 1998 under which the parties conducted collaborative research
to support a drug discovery program for [**], and for development and
commercialization of certain agents resulting from the research program. The
Amendment No. 5 to the Agreement added to the collaboration [**] which
specifically [**], in which COR owned sole rights.

         2. The Research Term (as defined below) expired November 30, 1999. The
parties wish to conduct further research and development independently, to
reallocate the territories in which each will bear development responsibilities
and have commercialization opportunities, eliminate the possible [**],
reallocate the manufacturing rights and obligations, and to adjust the economic
obligations and compensation accordingly as set forth herein. In addition, the
parties wish to restate their respective rights and obligations in light of the
previous amendments, the expiration of the Research Term, and the termination by
Kyowa Hakko of Amendment No. 5 to the Collaboration Agreement by letter dated
November 25, 1999.

                                    ARTICLE 1
                                   DEFINITIONS

         The following terms shall have the following meanings as used in this
Agreement:

         1.1 "AFFILIATE" means an entity that, directly or indirectly, through
one or more intermediaries, controls, is controlled by or is under common
control with COR or Kyowa Hakko. For the purposes of this definition, control
means the direct or indirect ownership of at least 50% or, if less than 50%, the
maximum percentage as allowed by applicable law, of the outstanding voting
securities of such entity.

         1.2 "ASIAN TERRITORY" means [**] including all territories and
possessions thereof.

         1.3 "COMPOUND" means [**] within the [**] of a [**] of a [**] listed in
Schedule 1.3 attached hereto.

<PAGE>

         1.4 "CONTROL" means possession of the ability to grant a license or
sublicense as provided for herein without violating the terms of any agreement
or other arrangement with, or the rights of, any Third Party.

         1.5 "COR KNOWHOW" means Information which (i) COR discloses to Kyowa
Hakko under this Agreement for use in the Research and (ii) during the Research
Term is within the Control of COR.

         1.6 "COR PATENTS" means the rights granted by any governmental
authority under a Patent which covers a method, apparatus, material or
manufacture useful in the Field, which Patent is owned or Controlled by COR or
its Affiliates, excluding, however, Program Patents.

         1.7 "COR TECHNOLOGY" means the COR Knowhow and COR Patents,
collectively.

         1.8 "COR TERRITORY" shall mean the entire world, excluding only the
Asian Territory.

         1.9 "DRUG APPROVAL APPLICATION" means an application for Regulatory
Approval required before commercial sale or use of a Product as a drug in a
regulatory jurisdiction.

         1.10 "EFFECTIVE DATE" means November 30, 1992, which was the effective
date of the Original Agreement.

         1.11 "FIELD" means the discovery, development, manufacture, use and
sale of Compounds and Products for all human and animal uses, including, but not
limited to, the prevention or treatment of restenosis following angioplasty,
[**] Excluded from the field are [**].

         1.12 "INFORMATION" shall mean (i) present and future techniques,
inventions, practices, methods, knowledge, knowhow, skill, experience, test data
including pharmacological, toxicological and clinical test data, analytical and
quality control data, marketing, pricing, cost, sales and manufacturing data and
descriptions relating to the Field; (ii) present and future compounds,
compositions, assays and any biological materials relating to the Field; and
(iii) all Information exchanged between the parties pursuant to the Original
Agreement.

         1.13 "KYOWA HAKKO KNOWHOW" means Information which (i) Kyowa Hakko
discloses to COR under this Agreement for use in the Research and (ii) during
the Research Term is within the Control of Kyowa Hakko.

         1.14 "KYOWA HAKKO PATENTS" means the rights granted by any governmental
authority under a Patent which covers a method, apparatus, material or
manufacture useful in the Field, which Patent is owned or Controlled by Kyowa
Hakko or its Affiliates, excluding, however, Program Patents.

         1.15 "KYOWA HAKKO TECHNOLOGY" means the Kyowa Hakko Knowhow and Kyowa
Hakko Patents, collectively.

<PAGE>

         1.16 "NET SALES" means the amount billed by a party or an Affiliate,
assignee or sublicensee of such party for sales of Products under this Agreement
to a Third Party less: (i) discounts, including cash discounts, or rebates,
retroactive price reductions or allowances actually allowed or granted from the
billed amount, (ii) credits or allowances actually granted upon claims,
rejections or returns of Products, including recalls, regardless of the party
requesting such, (iii) freight, postage, shipping and insurance charges paid for
delivery of Product, to the extent billed, and (iv) taxes, duties or other
governmental charges levied on or measured by the billing amount when included
in billing, as adjusted for rebates and refunds. In the event a party is
receiving royalties under this Agreement from any Product sold in the form of a
combination Product containing one or more active ingredients, Net Sales for
such combination Product will be calculated by multiplying actual Net Sales by
the greater of [**]% or the fraction A/(A+B) where A is the fair market value of
the portion of the combination Product that contains a Product and B is the fair
market value of the other active ingredients included in such combination
Product, as determined by market prices of such portions if separately priced
and sold, or if not so priced and sold, as determined by mutual agreement of the
parties. As used herein, the term "active ingredient" does not include
ingredients the primary effect of which is the enhancement of drug delivery,
even if such ingredients have pharmacological activity.

         1.17 "ORIGINAL AGREEMENT" means the Collaboration Agreement between COR
Therapeutics, Inc. and Kyowa Hakko Kyogo Co., Ltd, dated as of November 30,
1992.

         1.18 "PATENT" means (i) a valid and enforceable patent, including any
extension, registration, confirmation, reissue, reexamination or renewal thereof
and (ii) to the extent valid and enforceable rights are granted by a
governmental authority thereunder, a patent application.

         1.19 "PATENT COSTS" means the fees and expenses paid to outside legal
counsel and other third parties, and filing and maintenance expenses, incurred
in connection with the establishment, maintenance of rights under Patents
applicable to Products including costs of patent interference proceedings.

         1.20 "PRODUCT" means any form or dosage of a Compound for human
pharmaceutical or any other use.

         1.21 "PROGRAM PATENTS" mean Patents and applications for Patents which
cover a method, apparatus, material or manufacture useful in the Field and the
subject of which is an invention conceived or reduced to practice by either of
the parties or by the parties jointly in the course of the Research or their
respective work in the Field during the [**] period following the Research Term.
Any reference to a particular party's Program Patents shall include those
Program Patents owned by the party plus that party's interest in Program Patents
that are jointly owned under this Agreement.

         1.22 "REGULATORY APPROVAL" means any approvals, licenses, registrations
or authorizations of any federal, state or local regulatory agency, department,
bureau or other government entity, necessary for the manufacture, use, storage,
import, transport or sale, of Products in a regulatory jurisdiction.

<PAGE>

         1.23 "RESEARCH" means all work performed by the parties in the Field
during the Research Term.

         1.24 "RESEARCH TERM" means the period commencing on the Effective Date
and ending on November 30, 1999.

         1.25 "THIRD PARTY" means any entity other than COR or Kyowa Hakko or an
Affiliate of COR or Kyowa Hakko.

         1.26 "UNITED STATES" means the United States and all possessions and
territories thereof.

                                    ARTICLE 2
                                    RESEARCH

         2.1 COLLABORATIVE RESEARCH. COR and Kyowa Hakko conducted the Research
on a collaborative basis with the goal of identifying potentially useful
compounds and developing them into commercially successful Products. Pursuant to
Amendment No. 5 to the Original Agreement, COR and Kyowa Hakko further
collaborated to [**] which specifically [**], to which COR owned sole rights.
The Research Term expired on November 30, 1999 and Amendment No. 5 was
terminated effective February 29, 2000.

                                    ARTICLE 3
                                   DEVELOPMENT

         3.1 DEVELOPMENT OF PRODUCTS. Kyowa Hakko will have the sole right to
develop all Products in the Asian Territory and shall own all Drug Approval
Applications for each Product in such territory. COR will have the sole right to
develop all Products in the COR Territory and shall own all Drug Approval
Applications for each Product in such territory. Each party shall bear all costs
it incurs with respect to development of such Products in its respective
territory.

                                    ARTICLE 4
                                    LICENSES

         4.1 LICENSES TO KYOWA HAKKO WITHIN THE FIELD. COR hereby grants to
Kyowa Hakko a license under the COR Technology and COR's Program Patents to
make, have made, use, import, offer for sale, sell and have sold all Products in
the Asian Territory. Such license shall be [**] except as provided in Section
4.5. Such license shall be exclusive with respect to COR Patents and COR's
Program Patents and non-exclusive with respect to COR Knowhow.

         4.2 LICENSES TO COR WITHIN THE FIELD. Kyowa Hakko hereby grants to COR
a royalty-bearing license under the Kyowa Hakko Technology and Kyowa Hakko's
Program Patents to make, have made, use, import, offer for sale, sell and have
sold all Products in the COR Territory. Such license shall be exclusive with
respect to Kyowa Hakko Patents and Kyowa Hakko's Program Patents and
non-exclusive with respect to Kyowa Hakko Knowhow.

<PAGE>

         4.3 SUBLICENSING. Kyowa Hakko shall have the right to sublicense any of
its rights under Section 4.1 in the Asian Territory to any Third Party, without
the prior written consent of COR. COR shall have the right to sublicense any of
its rights under Section 4.2 in the COR Territory to any Third Party, without
the prior written consent of Kyowa Hakko.

         4.4 RIGHTS TO USE PROGRAM PATENTS OUTSIDE OF THE FIELD. The parties
have provided in Article 11 below for the allocation of ownership of Program
Patents. While it is contemplated that Program Patents will have primary utility
within the Field, the parties recognize that such patents may also have
application outside of the Field and desire to allocate rights to practice such
patents outside the Field on the basis of inventorship of the relevant Program
Patent. Accordingly:

             (a) Kyowa Hakko hereby grants to COR [**] license to make, have
made, use and sell products outside of the Field under those Program Patents
owned by Kyowa Hakko as to which COR was the sole or joint inventor. Such
license shall be exclusive with respect to such Program Patents for which COR is
the sole inventor, and non-exclusive with respect to Program Patents for which
COR is a joint inventor. COR shall have the right to sublicense any of its
rights under this Section 4.4 with the prior written consent of Kyowa Hakko.

             (b) COR hereby grants to Kyowa Hakko [**] license to make, have
made, use and sell products outside of the Field under those Program Patents
owned by COR as to which Kyowa Hakko was the sole or joint inventor. Such
license shall be exclusive with respect to such Program Patents for which Kyowa
Hakko is the sole inventor, and non-exclusive with respect to such Program
Patents for which Kyowa Hakko is a joint inventor. Kyowa Hakko shall have the
right to sublicense any of its rights under this Section 4.4 with the prior
written consent of COR.

         As used herein, "inventorship" by COR or Kyowa Hakko shall mean
inventorship by the employees of such company or consultants engaged by it, and
joint inventorship shall mean inventorship by employees and/or consultants of
each of the parties. Each party agrees to discuss in good faith any request by
the other to grant a sublicense hereunder.

         4.5 SUBLICENSES OF THIRD PARTY TECHNOLOGY. The licenses granted herein
include sublicenses under any technology applicable to the Field which has been,
or during the term of this Agreement is, licensed by a party from any Third
Party and is within the Control of such party. For any such Third Party
technology licensed by a party [**]such licensing party [**]. The parties agree
that COR shall not be required to obtain Kyowa Hakko's consent to obtain a
license under technology in the COR Territory and Kyowa Hakko shall not be
required to obtain COR's consent to obtain a license under technology in the
Asian Territory. No license applicable to Products in the COR Territory shall be
entered into except with the consent of COR. No license applicable to Products
in the Asian Territory shall be entered into except with the consent of Kyowa
Hakko. Except as provided in the second sentence of this paragraph, each party
receiving a sublicense of Third Party technology hereunder shall comply with the
terms and conditions of such sublicense imposed by the Third Party, including
accounting for Net Sales of Products.

<PAGE>

         4.6 TERRITORIAL LIMITATIONS. To the extent permitted by law, neither
COR nor Kyowa Hakko shall sell Products to any Third Party the selling party
believes will resell in a manner inconsistent with the commercialization
arrangements set forth in this Agreement.

                                    ARTICLE 5
                                COMMERCIALIZATION

         5.1 COMMERCIALIZATION. Kyowa Hakko shall develop and maintain, in its
sole discretion, a program for commercializing the Product in the Asian
Territory. COR shall develop and maintain, in its sole discretion, a program for
commercializing the Products in the COR Territory.

         5.2 TRADEMARKS. Each party shall prosecute applications for, own and
maintain the trademarks for each Product in its respective territory.

                                    ARTICLE 6
                                   COMMITTEES

         6.1 DELETED. This Article has been deleted in its entirety.

                                    ARTICLE 7
                                ROYALTY PAYMENTS

         7.1 PRODUCT ROYALTY. COR shall pay Kyowa Hakko a royalty of [**]
percent ([**]%) of Net Sales of Products in the COR Territory. Such royalties
shall terminate as to each Product and as to each country in the COR Territory
upon the later to occur of (i) the expiration of the last to expire patent in
which Kyowa Hakko has an ownership interest and a claim of which covers a
Product in such country or (ii) 10 years after the first commercial sale of such
Product in such country. Upon the termination of COR's royalty obligation
hereunder as to each Product in the relevant country, COR shall have [**]
license under the Kyowa Hakko Knowhow to make, have made, use, import, offer for
sale, sell and have sold all Product in such country.

         7.2 ACCRUAL; CURRENCY; TAXES; STATEMENT. Such royalties shall be paid
quarterly within 60 days after the end of each calendar quarter. Such royalties
shall be calculated on the basis of Net Sales in the local currency of each
country, and converted into U.S. Dollars and paid in U.S. Dollars on the basis
of the currency exchange rate published in the Wall Street Journal or comparable
newspaper of international circulation on the last business day of the quarter
in which such sales were made. In the event of Net Sales being made in a
currency as to which conversion into U.S. Dollars is then blocked, COR shall
make payment to Kyowa Hakko in such local currency in a bank account designated
by Kyowa Hakko. COR shall withhold any taxes on such royalties required by law.
Each royalty payment shall be accompanied by a statement of such royalties
showing the Net Sales of each Product during such quarter, the calculation of
the royalties due, and showing evidence of payment as to any taxes paid on Kyowa
Hakko's behalf. Any refunds or rebates of taxes paid to COR on behalf of Kyowa
Hakko shall be remitted promptly by COR to Kyowa Hakko.

<PAGE>

         7.3 [**] LICENSE AND ROYALTIES.

             (a) Effective November 25, 1999, Kyowa Hakko terminated
Amendment No. 5 to the Original Agreement. Upon such termination, all of Kyowa
Hakko's rights in the [**] Field under the Original Agreement terminated
worldwide. Accordingly, Kyowa Hakko hereby grants to COR an exclusive, worldwide
license under Kyowa Hakko [**] Patents and Kyowa Hakko's [**] Program Patents,
and a nonexclusive, worldwide license under Kyowa Hakko [**] Knowhow, to
develop, make, use and sell [**] Products. In connection with the activities
under Amendment No. 5 to the Original Agreement, Kyowa Hakko developed and
provided to COR a [**]Ab produced in a high-expressing cell line. In
consideration thereof, COR shall pay Kyowa Hakko a royalty of [**] percent
([**]%) of worldwide Net Sales of [**] Products incorporating the Kyowa Hakko
provided [**]; provided that such royalties shall cease when the cumulative
royalties paid to Kyowa Hakko amount to [**] Dollars ($[**]).

             (b) As used in this Section, the following terms shall have the
following meanings:

                 (i) "KYOWA HAKKO [**] KNOWHOW" means all Information useful in
the [**] Field which Kyowa Hakko Controls during the term of this Agreement.

                 (ii) "KYOWA HAKKO [**] PATENTS" means the rights granted by any
governmental authority under a Patent which covers a method, apparatus, material
or manufacture useful in the [**] Field, which Patent is owned or Controlled by
Kyowa Hakko or its Affiliates, excluding, however, [**] Program Patents.

                 (iii) [**] means COR's [**] and which is the [**] provided by
COR to Kyowa Hakko prior to the effective date of Amendment No. 5. [**] also
includes [**].

                 (iv) "[**] FIELD" means the discovery, development,
manufacture, use and sale of [**] Products for all human and animal
pharmaceutical uses, including, but not limited to, the prevention or treatment
of restenosis following angioplasty, but excluding any diagnostic use.

                 (v) "[**] PRODUCTS" means any form or dosage of a [**] for
human and animal pharmaceutical use, excluding any diagnostic use. The parties
acknowledge that [**] Products do not fall within the scope of the definition of
"Product", and that the class of [**] Products is separate from the class of
Product.

                 (vi) "[**] PROGRAM PATENTS" means Patents and applications for
Patents which cover a method, apparatus, material or manufacture useful in the
[**] Field and the subject of which is an invention conceived or reduced to
practice by either of the parties or by the parties jointly in the course of
their respective work in the [**] Field prior to termination of Amendment No. 5.
Any reference to a particular party's [**] Program Patents shall include those
[**] Program Patents owned by that party plus that party's interest in [**]
Program Patents that were jointly owned under Amendment No. 5.

<PAGE>

                                    ARTICLE 8
                                  MANUFACTURING

         8.1 MANUFACTURE OF PRODUCTS. Each party shall be responsible for
manufacture of Products in its respective territory.

                                    ARTICLE 9
                        DEVELOPMENT AND COMMERCIALIZATION
                               OF CANCER PRODUCTS

         9.1 DELETED. This Article has been deleted in its entirety.

                                   ARTICLE 10
                                 CONFIDENTIALITY

         10.1 CONFIDENTIALITY; EXCEPTIONS. Except to the extent expressly
authorized by this Agreement or otherwise agreed in writing, the parties agree
that, for the term of this Agreement and for [**] years thereafter, the
receiving party shall keep confidential and shall not publish or otherwise
disclose or use for any purpose other than as provided for in this Agreement any
Information and other information and materials furnished to it by the other
party pursuant to this Agreement (collectively, "Confidential Information"),
except to the extent that it can be established by the receiving party by
competent proof that such Confidential Information:

              (a) was already known to the receiving party, other than under
an obligation of confidentiality, at the time of disclosure by the other party;

              (b) was generally available to the public or otherwise part of
the public domain at the time of its disclosure to the receiving party;

              (c) became generally available to the public or otherwise part
of the public domain after its disclosure and other than through any act or
omission of the receiving party in breach of this Agreement; or

              (d) was disclosed to the receiving party, other than under an
obligation of confidentiality, by a Third Party who had no obligation to the
disclosing party not to disclose such information to others.

         10.2 AUTHORIZED DISCLOSURE. Each party may disclose the other's
Confidential Information to the extent such disclosure is reasonably necessary
in filing or prosecuting patent applications, prosecuting or defending
litigation, complying with applicable governmental regulations or conducting
preclinical or clinical trials, provided that if a party is required by law or
regulation to make any such disclosure of the other party's Confidential
Information it will except where impracticable for necessary disclosures, for
example in the event of medical emergency, give reasonable advance notice to the
other party of such disclosure requirement and, except to the extent
inappropriate in the case of patent applications, will use its best efforts to
secure confidential treatment of such Confidential Information required to be
disclosed.

<PAGE>

         10.3 SURVIVAL. This Article 10 shall survive the termination or
expiration of this Agreement for a period of [**] years.

                                   ARTICLE 11
                       OWNERSHIP OF INTELLECTUAL PROPERTY
                                AND PATENT RIGHTS

         11.1 OWNERSHIP OF PROGRAM PATENTS. The ownership of Program Patents and
responsibility for the prosecution and maintenance of such patents, and the
handling of interference proceedings with respect to such patents, shall be
allocated as follows:

              (a) Program Patents [**] shall be owned jointly by Kyowa Hakko
and COR in all countries of the world. The initial patent application for such
Program Patents shall be prepared and filed by COR in the United States.

              (b) Program Patents with respect to [**] as to which the [**]
within a [**] shall be owned by Kyowa Hakko in the Asian Territory, and shall be
owned jointly by Kyowa Hakko and COR in the COR Territory.

                  (i) With respect to [**], the initial patent application [**]
shall be prepared and filed by Kyowa Hakko in Japan.

                  (ii) With respect to [**], the initial patent application [**]
shall be prepared and filed by COR in the United States.

              (c) Program Patents with respect [**] as to which the [**]
shall be owned by COR in the COR Territory and shall be owned jointly by Kyowa
Hakko and COR in the Asian Territory. The initial patent application for [**]
shall be prepared and filed by COR in the United States.

         In the event inventions are made which cover more than one category set
forth above, the parties shall consult and cooperate to cause their patent
filings to be in accord as nearly as practicable to the categories set forth
above, and to allocate ownership and rights with respect to individual claims as
provided above. The parties hereby assign to each other any ownership interest
in Program Patents which they may obtain inconsistent with the agreement set
forth above, and will assist each other in every proper way to effect such
assignment.

         11.2 KYOWA HAKKO RESPONSIBILITY FOR PATENT FILINGS. Kyowa Hakko will
diligently file, prosecute and issue Program Patents to effectively cover
discoveries and inventions relating to the Field which are within categories
11.1(a), 11.1(b) and 11.1(c) for all countries in the Asian Territory. Kyowa
Hakko will endeavor to ensure whenever possible that claims are filed and will
issue in such Patents specifically directed to the Field and that all Patents
are filed before any public disclosure by Kyowa Hakko to maintain the validity
of Patents filed outside of the United States. Kyowa Hakko will give COR
immediate notice of any decision to prepare a Patent application which is
subject to this Section 11.2. For all Patent applications other than new
chemical entities, Kyowa Hakko will provide COR and its patent counsel [**] of
any such Patent applications and COR will have [**] days from receipt of such
drafts to comment on such applications. For Patent applications for new chemical
entities, Kyowa Hakko will provide COR

<PAGE>

and its patent counsel [**] of any such Patent applications; COR will have [**]
days from receipt of such drafts to comment on such applications. Such drafts of
Patent applications for new chemical entities delivered to COR for review will
include the [**]. In each event, Kyowa Hakko will confer with COR, and make
every effort to adopt COR's suggestions, regarding the prosecution of such
Patents. As soon as practical subsequent to filing, Kyowa Hakko will provide COR
with [**] of any filing. In addition, Kyowa Hakko will copy COR with any
official action and Kyowa Hakko submissions in such Patents, including an
English translation thereof.

         11.3 COR RESPONSIBILITY FOR PATENT FILINGS. COR will diligently file,
prosecute and issue Program Patents to effectively cover discoveries and
inventions relating to the Field for those inventions which are within
categories 11.1(a), 11.1(b) and 11.1(c) for all countries in the COR Territory.
COR will endeavor to ensure whenever possible that claims are filed and will
issue in such Patents specifically directed to the Field and that all Patents
are filed before any public disclosure to COR to maintain the validity of
Patents filed in the COR Territory. COR will give Kyowa Hakko immediate notice
of any decision to prepare a Patent application which is subject to this Section
11.3. For all Patent applications other than new chemical entities, COR will
provide Kyowa Hakko and its patent counsel [**] of any such Patent applications
and Kyowa Hakko will have [**] days from receipt of such drafts to comment on
such applications. For Patent applications for new chemical entities, COR will
provide Kyowa Hakko and its patent counsel [**] of any such Patent applications;
Kyowa Hakko will have [**] days from receipt of such drafts to comment on such
applications. Such drafts of Patent applications for new chemical entities
delivered to Kyowa Hakko for review will include the [**]. In each event, COR
will confer with Kyowa Hakko, and make every effort to adopt Kyowa Hakko's
suggestions, regarding the prosecution of such Patents. In addition, COR will
copy Kyowa Hakko with any official action and COR's submissions in such Patents.

         11.4 INITIAL FILINGS IF MADE BY KYOWA HAKKO IN THE ASIAN TERRITORY.
Kyowa Hakko agrees to use reasonable efforts to assure that any Patent it files
in the Asian Territory prior to a U.S. filing will be in a form sufficient to
establish the date of original filing as a priority date for the purposes of a
subsequent U.S. filing.

         11.5 ENFORCEMENT RIGHTS. With respect to infringement in the Field of
any of the COR Patents, Kyowa Hakko Patents or Program Patents, (i) COR shall
have the right, but not the obligation, to institute, prosecute and control any
action or proceeding with respect to such infringement in the COR Territory;
(ii) Kyowa Hakko shall have the right, but not the obligation, to institute,
prosecute and control any action or proceeding with respect to such infringement
in the Asian Territory. The parties shall consult regarding the institution,
prosecution and control of any action or proceeding with respect to infringement
outside of the Field of any of the COR Patents, Kyowa Hakko Patents or Program
Patents. In the absence of agreement with respect to infringement outside of the
Field, each party may proceed in such manner as the law permits. In each case
relating to infringement within the Field, Kyowa Hakko shall bear the costs of
patent enforcement within the Asian Territory and retain for its own account any
amounts recovered from Third Parties; COR shall bear the costs of patent
enforcement within the COR Territory and retain for its own account any amounts
recovered from Third Parties.

<PAGE>

         11.6 PATENT COSTS. Patent Costs for Products in the Asian Territory
shall be borne solely by Kyowa Hakko; Patent Costs for Products in the COR
Territory shall be borne solely by COR.

         11.7 ASSIGNMENT. Neither party may assign its rights under any jointly
owned Program Patent except with the prior written consent of the other party;
provided, however, that either party may assign such rights without consent to
an Affiliate or other permitted assignee of this Agreement.

                                   ARTICLE 12
                         REPRESENTATIONS AND WARRANTIES

         12.1 REPRESENTATIONS AND WARRANTIES. Each of the parties hereby
represents and warrants as follows:

              (a) This Agreement is a legal and valid obligation binding upon
such party and enforceable in accordance with its terms. The execution, delivery
and performance of the Agreement by such party does not conflict with any
agreement, instrument or understanding, oral or written, to which it is a party
or by which it is bound, nor violate any law or regulation of any court,
governmental body or administrative or other agency having jurisdiction over it.

              (b) Such party has not, and during the term of the Agreement
will not, grant any right to any Third Party relating to its respective
Technology in the Field which would conflict with the rights granted to the
other party hereunder.

                                   ARTICLE 13
                          REPORTS, RECORDS AND SAMPLES

         13.1 WRITTEN REPORTS. COR and Kyowa Hakko will each deliver to the
other periodic written reports in English presenting a meaningful summary of
their respective Product development work performed hereunder. Each party shall
deliver its initial report upon commencement of its first human clinical trial
for the relevant Product, and shall provide a follow-up report with respect to
that Product at the completion of each clinical phase prior to receipt of
regulatory approval for such Product.

         13.2 RECORDS OF NET SALES. COR party will maintain complete and
accurate records of Net Sales which are relevant to payments to be made under
this Agreement and such records shall be open during reasonable business hours
for a period of [**] years from creation of individual records for examination
at Kyowa Hakko's expense and not more often than once each year by a certified
public accountant selected by Kyowa Hakko and acceptable to COR for the sole
purpose of verifying for Kyowa Hakko the correctness of calculations or payments
made under this Agreement.

         13.3 PUBLICITY REVIEW. COR and Kyowa Hakko will jointly discuss and
agree, based on the principles of this Section 13.3, on any statement to the
public regarding this Agreement or any aspect of this Agreement subject in each
case to disclosure otherwise required by law or regulation. If either party is
required by law or regulation to make a public disclosure or announcement
concerning the Research or this Agreement or the subject matter thereof, such

<PAGE>

party shall give reasonable prior advance notice of the proposed text of such
disclosure or announcement to the other parties for their review and comment. In
the discussion and agreement referred to above, the principles observed by COR
and Kyowa Hakko will be: accuracy, the requirements for confidentiality under
Article 10, the advantage a competitor of COR or Kyowa Hakko may gain from any
public or Third Party statements under this Section 13.3, the requirements of
disclosure under any applicable securities laws, including those associated with
public offerings, and the standards and customs in the pharmaceutical industry
for such disclosures by companies comparable to COR and Kyowa Hakko. The terms
of this Agreement may also be disclosed to Third Parties with the consent of the
other party, which consent shall not be unreasonably withheld so long as such
disclosure is made under a binder of confidentiality.

         13.4 PUBLICATIONS. Each party agrees that it shall not publish or
present the results of studies carried out as part of the Research without the
opportunity for prior review by the other party. Each party shall provide to the
other the opportunity to review any proposed abstracts, manuscripts or
presentations (including information to be presented verbally) which relate to
the Field at least thirty days prior to their intended submission for
publication and such submitting party agrees, upon written request from the
other party, not to submit such abstract or manuscript for publication or to
make such presentation until the other party is given a reasonable period of
time to secure patent protection for any material in such publication or
presentation which it believes is patentable.

                                   ARTICLE 14
                              TERM AND TERMINATION

         14.1 TERM. This Agreement shall commence as of the Amendment and
Restatement Effective Date and, unless sooner terminated as provided herein,
shall continue in effect until the latest of (a) the expiration of the last to
expire of the Program Patents or (b) the date on which COR is no longer
obligated to pay royalties to Kyowa Hakko under Section 7.1.

         14.2 SURVIVING RIGHTS. The obligations and rights of the parties under
Articles 1, 10, 11, 14, 15 and Sections 13.2 and 16.10 of this Agreement will
survive termination (in the case of Article 10 and Section 13.2, for the periods
set forth therein).

         14.3 ACCRUED RIGHTS, SURVIVING OBLIGATIONS. Termination, relinquishment
or expiration of the Agreement for any reason shall be without prejudice to any
rights which shall have accrued to the benefit of either party prior to such
termination, relinquishment or expiration, including damages arising from any
breach hereunder. Such termination, relinquishment or expiration shall not
relieve either party from obligations which are expressly indicated to survive
termination or expiration of the Agreement.

<PAGE>

                                   ARTICLE 15
                                 INDEMNIFICATION

         15.1 INDEMNIFICATION IN ASIAN TERRITORY. Kyowa Hakko shall indemnify
and hold COR harmless from and against any and all liability, damage, loss, cost
(including reasonable attorneys' fees) and expense resulting from any claim of
bodily injury or property damage (a) relating to the development, manufacture,
use, distribution or sale of any Product in the Asian Territory, or (b) due to
the negligence or willful misconduct of Kyowa Hakko or its employees or agents.

         15.2 INDEMNIFICATION IN THE COR TERRITORY. COR shall indemnify and hold
Kyowa Hakko harmless from and against any and all liability, damage, loss, cost
(including reasonable attorneys' fees) and expense resulting from any claim of
bodily injury or property damage (a) relating to the development, manufacture,
use, distribution or sale of any Product in the COR Territory, or (b) due to the
negligence or willful misconduct of COR or its employees or agents.

                                   ARTICLE 16
                                  MISCELLANEOUS

         16.1 REASONABLE EFFORTS. As used herein, the term "reasonable efforts"
shall mean efforts and resources commonly used in the research-based
pharmaceutical industry for a product at a similar stage in its product life
taking into account the establishment of the product in the marketplace, the
competitiveness of the marketplace, the proprietary position of the product, the
regulatory structure involved, the profitability of the product and other
relevant factors. Such resources and efforts shall be determined for a
particular Product and it is anticipated that the level of effort will change
over time reflecting changes in the status of the Product and the marketplace.

         16.2 ASSIGNMENT TO AFFILIATES. Either party may assign any of its
rights or obligations under this Agreement in any country to any Affiliates;
provided, however, that such assignment shall not relieve the assigning party of
its responsibilities for performance of its obligations under this Agreement.
The parties recognize that each may perform some of its obligations hereunder
through Affiliates; provided, however, that each party shall remain responsible
and be guarantors of the performance by their Affiliates and shall cause their
Affiliates to comply with the provisions of this Agreement in connection with
such performance.

         16.3 ASSIGNMENT TO NON-AFFILIATES; SALE OR MERGER. Either party may
assign its rights or obligations under this Agreement or its ownership interest
in jointly owned Program Patents to a non-Affiliate only as provided in Section
16.4, or in connection with the sale of all or substantially all of its assets,
or otherwise with the prior written consent of the other party. This Agreement
shall survive any merger of either party with or into another party and no
consent shall be required hereunder; provided, that in the event of such merger,
no intellectual property rights of the acquiring corporation shall be included
in the COR Technology or the Kyowa Hakko Technology, as applicable.

<PAGE>

         16.4 RESEARCH AND DEVELOPMENT ENTITIES. COR may assign its rights and
obligations under this Agreement to an entity or entities (e.g., partnership or
corporation) that are specifically formed for financial purposes and that
finance research and development performed by COR; provided, however, that such
assignment shall not relieve COR of responsibility for performance of its
obligations under this Agreement. COR shall provide prior notice of such
assignment to Kyowa Hakko and shall consider any comments provided by Kyowa
Hakko with respect to such arrangements.

         16.5 RETAINED RIGHTS. Nothing in this Agreement shall limit in any
respect the right of either party to conduct research and development with
respect to and market products outside the Field using such party's Technology,
but no license to use the other party's technology to do so is granted herein
expressly or by implication.

         16.6 FORCE MAJEURE. Neither party shall lose any rights hereunder or be
liable to the other party for damages or losses on account of failure of
performance by the defaulting party if the failure is occasioned by government
action, war, fire, explosion, flood, strike, lockout, embargo, act of God, or
any other similar cause beyond the control of the defaulting party, provided
that the party claiming force majeure has exerted all reasonable efforts to
avoid or remedy such force majeure; provided, however, in no event shall a party
be required to settle any labor dispute or disturbance.

         16.7 FURTHER ACTIONS. Each party agrees to execute, acknowledge and
deliver such further instruments, and to do all such other acts, as may be
necessary or appropriate in order to carry out the purposes and intent of this
Agreement.

         16.8 NO TRADEMARK RIGHTS. Except as otherwise provided herein, no
right, express or implied, is granted by the Agreement to use in any manner the
name "COR" or "Kyowa Hakko" or any other trade name or trademark of the other
party in connection with the performance of the Agreement.

         16.9 NOTICES. All notices and other communications hereunder shall be
in writing and shall be deemed given if delivered personally or by facsimile
transmission (receipt verified), telexed, mailed by registered or certified mail
(return receipt requested), postage prepaid, or sent by express courier service,
to the parties at the following addresses (or at such other address for a party
as shall be specified by like notice; provided, that notices of a change or
address shall be effective only upon receipt thereof):

         If to COR, addressed to:

         COR Therapeutics, Inc.
         256 East Grand Avenue
         South San Francisco, CA  94080
         Attention:  Senior Vice President - Corporate Development
         Telephone:  (650) 244-6800
         Telecopy:   (650) 244-9208

<PAGE>

         With copy to:

         Cooley Godward LLP
         Five Palo Alto Square
         3000 El Camino Real
         Palo Alto, CA  94306
         Attention:  Robert L. Jones, Esq.
         Telephone:  (650) 843-5000
         Telecopy:   (650) 849-7400

         If to Kyowa Hakko, addressed to:

         Kyowa Hakko Kogyo Co., Ltd.
         1-6-1 Ohtemachi
         Chiyoda-ku
         Tokyo, Japan
         Attention:  General Manager, Licensing & International Development
                     Telephone:  011-81-3-3282-0037
                     Telecopy:   011-81-3-3282-0031

         16.10 GOVERNING LAW. This Agreement shall be governed by the laws of
the State of California, as such laws are applied to contracts entered into and
to be performed within such state. Any claim or controversy arising out of or
related to this contract or any breach hereof which is not resolved through
negotiation between the parties shall be submitted to a court of competent
jurisdiction in the State of California, and the parties hereby consent to the
jurisdiction and venue of such court. The parties each recognize their right to
a jury trial and hereby expressly waive such right and agree to submit any claim
or controversy arising out of or related to this contract or any breach hereof
to a trial by a judge.

         16.11 WAIVER. Except as specifically provided for herein, the waiver
from time to time by either of the parties of any of their rights or their
failure to exercise any remedy shall not operate or be construed as a continuing
waiver of same or of any other of such party's rights or remedies provided in
this Agreement.

         16.12 SEVERABILITY. If any term, covenant or condition of this
Agreement or the application thereof to any party or circumstance shall, to any
extent, be held to be invalid or unenforceable, then (i) the remainder of this
Agreement, or the application of such term, covenant or condition to parties or
circumstances other than those as to which it is held invalid or unenforceable,
shall not be affected thereby and each term, covenant or condition of this
Agreement shall be valid and be enforced to the fullest extent permitted by law;
and (ii) the parties hereto covenant and agree to renegotiate any such term,
covenant or application thereof in good faith in order to provide a reasonably
acceptable alter-native to the term, covenant or condition of this Agreement or
the application thereof that is invalid or unenforceable, it being the intent of
the parties that the basic purposes of this Agreement are to be effectuated.

         16.13 AMBIGUITIES. Ambiguities, if any, in this Agreement shall not be
construed against any party, irrespective of which party may be deemed to have
authored the ambiguous provision.

<PAGE>

         16.14 ENTIRE AGREEMENT. Pursuant to Section 16.14 of the Original
Agreement, the parties hereby amend and restate the Original Agreement, as
amended by the amendments thereto, and this Agreement sets forth all the
covenants, promises, agreements, warranties, representations, conditions and
understandings between the parties hereto and supersedes and terminates all
prior agreements and understanding between the parties, There are no covenants,
promises, agreements, warranties, representations conditions or understandings,
either oral or written, between the parties other than as set forth herein and
therein. No subsequent alteration, amendment, change or addition to this
Agreement shall be binding upon the parties hereto unless reduced to writing and
signed by the respective authorized officers of the parties.

         IN WITNESS WHEREOF, the parties have executed this Agreement in
duplicate originals by their proper officers as of the date and year first above
written.

COR THERAPEUTICS, INC.                            KYOWA HAKKO KOGYO, LTD.

By:    VAUGHN M. KAILIAN                          By:    ILLEGIBLE
       --------------------------                        ----------------------

Title: PRESIDENT AND CEO                          Title:
       --------------------------                        ----------------------

<PAGE>

                                  SCHEDULE 1.3#

[**]

# The listing in this Schedule 1.3 of any division, continuation,
continuation-in-part, reissue, extension or foreign counterpart is illustrative
only and is not necessarily a complete listing of all divisions, continuations,
continuations-in-part, reissues, extensions or foreign counterparts of a parent
application in existence as of the Amendment and Restatement Effective Date.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}]]