Document:

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                                                                   EXHIBIT 10.1

[***] CONFIDENTIAL TREATMENT REQUESTED UNDER 17 C.F.R. SECTIONS 200.80(b)(4),
200.83 AND 230.406. CONFIDENTIAL PORTIONS HAVE BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

                                   AGREEMENT

     This Agreement is made by and between Roche Molecular Systems, Inc.
("RMS"), having an office at 1080 U.S. Highway 202, Branchburg Township,
Somerville, New Jersey 08876-3771 and Virologic, Inc. ("VLI"), South San
Francisco, California, hereafter collectively referred to as "The Parties".

                                   BACKGROUND

     A.   RMS has the right to grant immunities from suit under certain United
States Patents describing and claiming, inter alia, a nucleic acid
amplification process known as the polymerase chain reaction ("PCR") technology.

     B.   VLI has attained substantial expertise in developing, validating,
documenting and performing sophisticated in vitro susceptibility/resistance
diagnostic procedures.

     C.   VLI desires to obtain an immunity from suit from RMS to practice PCR
Technology to perform human in vitro clinical laboratory services, and RMS is
willing to grant such an immunity, on the terms and subject to the conditions
provided exclusively in this Agreement.

     NOW, THEREFORE, for and in consideration of the mutual covenants contained
herein, RMS and VLI agree as follows:

     1.   Definitions

          For the purpose of this Agreement, and solely for that purpose, the
terms set forth hereinafter shall be defined as follows:

          1.1  The term "Affiliate" of a designated party to this Agreement
          shall mean:

               a)   an organization of which fifty percent (50%) or more of the
                    voting stock is controlled or owned directly or indirectly
                    by either party to this Agreement;

               b)   an organization which directly or indirectly owns or
                    controls fifty percent (50%) or more of the voting stock of
                    either party to this Agreement;

               c)   an organization, the majority ownership of which is directly
                    or indirectly common to the majority ownership of either
                    party to this Agreement; and

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               d)   an organization under (a), (b), or (c) above in which the
                    amount of said ownership is less than fifty percent (50%)
                    and that amount is the maximum amount permitted pursuant to
                    the law governing the ownership of said organization.

     It is understood and agreed, however, that the term "AFFILIATE" shall  not
include Genentech Inc., a Delaware Corporation.

     1.2 "COMBINATION SERVICE" shall mean a LICENSED SERVICE offered in
combination with [***] as part of a package, where the LICENSED SERVICE is not
separately billed.

     1.3 "DIAGNOSTIC PRODUCT" shall mean an assemblage of reagents, including
but not limited to reagents packaged in the form of a kit, useful in
performing a LICENSED SERVICE.

     1.4 "EFFECTIVE DATE" shall mean the date on which the last signatory to
this Agreement signs the Agreement.

     1.5 "LICENSED FIELD" shall mean the field of human in vitro diagnostics
solely for the detection of genetic diseases, genetic pre-disposition to
disease, cancer, tissue transplant typing, Parentage, and microorganisms
associated with infectious diseases.

     1.6 "LICENSED SERVICES" shall mean the performance by VLI of an in vitro
diagnostic procedure utilizing PCR TECHNOLOGY to detect the presence, absence
or quantity of a nucleic acid sequence associated with a specific human disease
or condition within the LICENSED FIELD. LICENSED SERVICES include but are not
limited to, any combination of the steps of collecting a sample for analysis,
isolating nucleic acid sequences therein, amplifying one or more desired
sequences, analyzing the amplified material and reporting the results.

     1.7 "NET SERVICE REVENUES" shall mean gross invoice price for the
LICENSED SERVICES performed by VLI (or the fair market value for any
nonmonetary  consideration which VLI agree to receive in exchange for LICENSED
SERVICES), less the following deductions where they are factually applicable
and are not already reflected in the gross invoice price:

               i)   discounts allowed and taken, in amounts customary in the
                    trade (which shall include the difference between the dollar
                    amount charged by VLI for a LICENSED SERVICE and the
                    Medicare and/or Medicaid Limits of Allowance  and/or
                    reimbursement limitations of a THIRD PARTY insurance
                    program); and

[***] CONFIDENTIAL TREATMENT REQUESTED.

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               ii)  government imposed transportation taxes, sales taxes and
                    other taxes to the extent they are separately identified on
                    the invoice; and

              iii)  actual bad debt, up to 2% of gross invoice price for
                    LICENSED SERVICES, which bad debt VLI can prove and document
                    that it was reasonable and diligent in its efforts to
                    collect payment.

     No allowance or deduction shall be made for commissions or collections, by
whatever name known.

     It is hereby understood and agreed that LICENSED SERVICES and COMBINATION
SERVICES shall at all times be invoiced, listed and billed by VLI as a separate
item in VLI's invoices, bills and reports to customers. NET SERVICE REVENUES for
determining royalties on a LICENSED SERVICE which is part of a COMBINATION
SERVICE shall be determined by [***] in Attachment I hereto. The [***] specified
in Attachment I for a particular LICENSED SERVICE shall be set my RMS after
consultation with VLI, [***] by the LICENSED SERVICE to the [***] of the
COMBINATION SERVICE as offered by VLI. Attachment I hereto shall be modified as
new COMBINATION SERVICES are identified and new royalty-bearing fractions set.

          The NET SERVICE REVENUES of the LICENSED SERVICES that are performed
by VLI for any person, firm or corporation controlling, controlled by, or under
common control with VLI, or enjoying a special course of dealing with VLI,
shall be determined by reference to the NET SERVICE REVENUES which would be
applicable under this Section in an arm's length transaction by VLI to a THIRD
PARTY other than such person, firm or corporation.

          1.8  "PARENTAGE" shall mean analysis of human genetic material to
ascertain whether two or more individuals are biologically related, but
specifically excludes analysis of forensic evidence for a sexual assault
investigation.

          1.9  "PCR TECHNOLOGY" shall mean polymerase chain reaction technology
covered by United States Patent Nos. B2 4,683,195, B1 4,683,202 and 4,965,188
and any reissue or reexamination patents thereof.

          1.10 "THIRD PARTY" shall mean a party other than an AFFILIATE of The
Parties to this Agreement.

     2.   Grant

          2.1  Upon the terms and subject to the conditions of this Agreement,
RMS hereby grants to VLI, and VLI hereby accepts from RMS, a royalty-bearing,
non-exclusive immunity from suit under PCR TECHNOLOGY solely to perform LICENSED
SERVICES within the United States and its possessions and the Commonwealth of
Puerto Rico.

[***] CONFIDENTIAL TREATMENT REQUESTED.

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          2.2  PCR Technology hereunder may be practiced solely for the
performance of Licensed Services and for no other purpose whatsoever, and no
other right, immunity or license is granted expressly, impliedly or by estoppel.

          2.3  VLI expressly acknowledges and agrees that the immunity from
suit pursuant to this Agreement is personal to VLI alone and VLI shall have no
right to sublicense, assign or otherwise transfer or share its rights under the
foregoing immunity from suit and further agrees that LICENSED SERVICES will be
performed, offered, marketed and sold only by VLI and VLI shall not authorize
any other party, including AFFILIATES, to practice the PCR TECHNOLOGY, nor
shall it practice the PCR TECHNOLOGY in conjunction with any other party.

          2.4  For each COMBINATION SERVICE that VLI offers pursuant to this
immunity from suit, VLI agrees that it will notify RMS at least sixty (60) days
before it commences offering said COMBINATION SERVICE. COMBINATION SERVICES
claimed by VLI on royalty reports which have not met the sixty (60) day notice
requirement and for which RMS has not set an appropriate royalty bearing
fraction, shall be royalty bearing at one hundred percent (100%) of the package
price, less applicable deductions. As to all other LICENSED SERVICES offered by
VLI which are not part of a COMBINATION SERVICE, VLI agrees to inform RMS of the
availability from VLI of each such LICENSED SERVICE within 30 days after VLI
commences offering the LICENSED SERVICE.

          2.5  RMS hereby grants to VLI the right and VLI accepts and agrees to
credit RMS as the source of PCR TECHNOLOGY rights in VLI's promotional
materials and any other materials intended for distribution to THIRD PARTIES as
follows:

  "This PCR portion of this test is performed pursuant to a license agreement
                       with Roche Molecular Systems, Inc."

     3.   Acknowledgement and Agreement on Diagnostic Products

          3.1  VLI acknowledges and agrees that the immunity from suit granted
hereunder is for the performance of LICENSED SERVICES only and does not include
any right to make, have made, import, offer or sell any products, including
devices, PCR reagents, kits or DIAGNOSTIC PRODUCTS. VLI specifically
acknowledges that it does not by virtue of this agreement acquire any rights
under RMS' U.S. Patent Nos. 4,889,818, 5,079,352 or any other polymerase
patent. VLI further acknowledges and agrees that RMS Affiliates are in the
business of providing clinical laboratory testing services and the commercial
sale of diagnostic testing systems and therefore may compete directly with
VLI's business.

     4.   Royalties, Records and Reports

          4.1  Royalties. For the rights and privileges granted under this
Agreement, VLI shall pay to RMS earned royalties equal to [***] percent [***] of
VLI's NET SERVICE REVENUES for each LICENSED SERVICE performed.

[***] CONFIDENTIAL TREATMENT REQUESTED.

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     4.2  VLI shall keep full, true and accurate books of account containing all
particulars which may be necessary for the purpose of showing the amount
payable to RMS by way of royalty or by way of any other provision under this
Agreement. Such books and the supporting data shall be open at all reasonable
times, for three (3) years following the end of the calendar year to which they
pertain (and access shall not be denied thereafter, if reasonably available),
to the inspection of RMS or an independent certified public accountant retained
by RMS for the purpose of verifying VLI's royalty statements or VLI's
compliance in other respects with this Agreement. If in dispute, such records
shall be kept until the dispute is settled. The inspection of records shall be
at RMS' sole cost and expense, unless the inspector concludes that royalties
reported by VLI for the period being audited are understated by five percent
(5%) or more from actual royalties, in which case the costs and expenses of
such inspection shall be paid by VLI.

     4.3  VLI shall within sixty (60) days after the first day of January and
July of each year deliver to RMS a true and accurate royalty report. Such
report shall cover the preceding six (6) calendar months; and shall be
submitted either i) on the "Summary Royalty Report", a copy of which is
attached hereto as Attachment II, or ii) on a form generated by VLI which
duplicates the format of the Summary Royalty Report; and shall include at least
the following:

          a)  the name of each LICENSED SERVICE and COMBINATION SERVICE and the
              number performed during those six (6) months;

          b)  compilation of billings thereon and the allowable deductions
              therefrom;

          c)  NET SERVICE REVENUES and the calculation of total royalties
              thereon; and

          d)  the calculation of the net royalty payable to RMS. If no royalties
              are due, its shall be so reported.

     The correctness and completeness of each such report shall be attested to
in writing by the responsible financial officer of VLI's organization or by
VLI's external auditor or by the chair or other head of VLI's internal audit
committee.

     Simultaneously with the delivery of each such report, VLI shall pay to RMS
the royalty due under this Agreement for the period covered by such report. All
payments due RMS hereunder shall be sent together with the royalty report by the
due date to the following address:

                    Roche Molecular Systems, Inc.
                    P.O. Box 18139
                    Newark, New Jersey 07191

or to any address that RMS may advise in writing.

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                4.4     All amounts payable hereunder by VLI to RMS shall be
payable in United States currency.

                4.5     VLI's obligation to pay royalties pursuant to this
Agreement shall terminate upon a final holding of invalidity or
unenforceability of all of the patents identified in Section 1.9, supra, by a
court of appellate jurisdiction or by a trial court from which no appeal is or
can be taken.

                4.6     If VLI shall fail to pay any amount specified under this
Agreement after the due date thereof, the amount owed shall bear interest at the
Citibank NA base lending rate ("prime rate") plus [***] % from the due date
until paid, provided, however, that if this interest rate is held to be
unenforceable for any reason, the interest rate shall be the maximum rate
allowed by law at the time the payment is due.

        5.      Performance of Licensed Services

                5.1     The Parties agree that quality assurance is of utmost
importance in the performance of LICENSED SERVICES. To that end, VLI agrees
that it will:

                a)      participate in at least one independent proficiency
                        testing program for each LICENSED SERVICE when such
                        program(s) becomes available; and

                b)      comply with all Medicare, Medicaid and/or CLIA standards
                        for diagnostic testing as well as all other applicable
                        federal, state and local regulations applicable to human
                        diagnostic testing.

        6.      Technology Notification

                6.1     With respect to any invention, improvement or discovery
(hereinafter referred to as "Discoveries" in this Article) of VLI made after
entering into this Agreement, resulting from work conducted under this
Agreement and being applicable to PCR, if VLI decides to license that Discovery
to THIRD PARTIES, then VLI agrees to provide to RMS, unless not possible due to
VLI's previous commitments to THIRD PARTIES relating to said Discoveries, a
reasonable opportunity to negotiate a license to use said Discoveries in
PCR-based DIAGNOSTIC PRODUCTS and services. Such Discoveries include, but are
not limited to, improvements of the PCR process or in the performance of
LICENSED SERVICES, modifications to or new methods of performing the LICENSED
SERVICES, including the automation of the PCR process or of the LICENSED
SERVICES.

                6.2     Any agreement reached between The Parties as a result
of VLI's notification to RMS of a Discovery pursuant to Section 6.1 hereto
shall be upon terms and conditions negotiated in good faith by The Parties.

[***] CONFIDENTIAL TREATMENT REQUESTED.

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     7.   Diligence

          VLI shall exercise reasonable diligence in developing, testing,
validating, documenting, promoting and selling the LICENSED SERVICES. In the
course of such diligence, VLI shall take appropriate steps including, upon
reasonable written request of RMS, furnish RMS with representative copies of
all promotional material relating to the LICENSED SERVICES.

     8.   TERM AND TERMINATION

          8.1  The immunity from suit granted to VLI herein shall commence on
the EFFECTIVE DATE and terminate on the date of expiration of the last to expire
of the patents included within the PCR TECHNOLOGY, which patent contains at
least one claim covering the performance of LICENSED SERVICES.

          8.2  If in the course of performing and offering LICENSED SERVICES,
VLI fails to comply with the quality assurance provisions of Article 5, VLI
shall so notify RMS immediately upon such failure and shall have thirty (30)
days from receipt of such notice to cure all defects of which it is notified.
If VLI does not cure all such defects within the designated thirty (30) days,
RMS may then in its sole discretion terminate this Agreement in its entirety,
or any portion thereof immediately. For the purposes of this Section and this
Agreement, VLI's failure to provide an accurate and correct test result when
participating in an independent proficiency testing program pursuant to Section
5.1 (a), on two consecutive evaluations, shall automatically be deemed a
failure to comply with Article 5 and shall be a material breach of this
Agreement.

          8.3  Notwithstanding any other Section of this Agreement, VLI may
terminate this Agreement for any reason on thirty (30) days' written notice to
RMS.

          8.4  The decision of a court or administrative body finding RMS
liable for culpable due to VLI's performance of LICENSED SERVICES shall give
RMS the right to terminate this Agreement immediately upon notification to RMS
of said decision.

          8.5  The immunity granted hereunder to VLI shall automatically
terminate upon (i) adjudication of VLI as bankrupt or insolvent, or VLI's
admission in writing of its inability to pay its obligations as they mature;
(ii) or an assignment by VLI for the benefit of creditors; (iii) or VLI's
applying for or consenting to the appointment of a receiver, trustee or similar
officer for any substantial part of its property; (iv) such receiver, trustee
or similar officers appointment without the application or consent of VLI, if
such appointment shall continue undischarged for a period of ninety (90) days;
or VLI's instituting (by petition, application, answer, consent or otherwise)
any bankruptcy, insolvency arrangement, or similar proceeding relating to VLI
under the laws of any jurisdiction; (v) or the institution of any such
proceeding (by petition, application or otherwise) against VLI, if such
proceeding shall remain undismissed for a period of ninety (90) days or the
issuance or levy of any judgment, writ, warrant of attachment or execution or
similar process against a substantial part of the property of VLI, if such
judgment, writ, or similar process shall not

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be released, vacated or fully bonded within ninety (90) days after its issue or
levy; (vi) loss of VLI's federal or state licenses permits or accreditation
necessary for operation of VLI as a health care institution.

     8.6  RMS shall have the right to terminate this Agreement by written
notice to VLI upon any change in the ownership or control of VLI or of its
assets. Termination under this Section shall be effective immediately upon
receipt by VLI of RMS' notice of termination. For such purposes, a "change in
ownership or control" shall mean that 30% or more of the voting stock of VLI
become subject to the control of a person or entity, or any related group of
persons or entities acting in concert, which person(s) or entity(ies) did not
control such proportion of voting stock as of the EFFECTIVE DATE of the
Agreement. Analogously, RMS shall have the right to terminate this Agreement
upon any transfer or sale of 30% or more of the assets of VLI to another party.

     8.7  BREACH. Upon any breach of or default of a material term under this
Agreement by VLI, RMS may terminate this Agreement upon thirty (30) days'
written notice to VLI. Said notice shall become effective at the end of the
thirty-day (30) period, unless during said period VLI fully cures such breach
or default and notifies RMS of such a cure.

     8.8  Upon termination of this Agreement as provided herein, all immunities
and rights granted to VLI hereunder shall revert to or be retained by RMS. To
the extent RMS has LICENSED TECHNOLOGY or know-how of VLI pursuant to Article 6
hereto, those licenses shall remain in force according to their terms.

     8.9  VLI's obligations to report to RMS and to pay royalties to RMS as to
the LICENSED SERVICES performed under the Agreement prior to termination or
expiration of the Agreement shall survive such termination or expiration.

  9. Confidentiality-Publicity

     9.1  Except as otherwise specifically provided in Section 2.5, VLI agrees
to obtain RMS' approval before distributing any written information, including
but not limited to promotional and sales materials, to THIRD PARTIES  which
contains references to RMS or this Agreement. RMS' approval shall not be
unreasonably withheld or delayed and, in any event, RMS' decision shall be
rendered within three (3) weeks of receipt of the written information. Once
approved, such materials, or abstracts of such materials, which do not
materially alter the context of the material originally approved may be
reprinted during the term of the Agreement without further approval by RMS
unless RMS has notified VLI in writing of its decision to withdraw permission
for such use.

     9.2  Each Party agrees that any financial, legal or business information
or any technical information disclosed to it (the "Receiving Party") by the
other (the "Disclosing Party") in connection with this Agreement shall be
considered confidential and proprietary and the Receiving

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Party shall not disclose same to any THIRD PARTY and shall hold it in
confidence for a period of five (5) years and will not use it other than as
permitted under this Agreement provided, however, that any information,
know-how or data which is orally disclosed to the Receiving Party shall not be
considered confidential and proprietary unless such oral disclosure is reduced
to writing and given to the Receiving Party in written form within thirty (30)
days after oral disclosure thereof. Such confidential and proprietary
information shall include, without limitation, marketing and sales information,
commercialization plans and strategies, research and development work plans,
and technical information such as patent applications, inventions, trade
secrets, systems, methods, apparatus, designs, tangible material, organisms and
products and derivatives thereof.

        9.3     The above obligations of confidentiality shall not be applicable
                to the extent:

                a.      such information is general public knowledge or, after
                        disclosure hereunder, becomes general or public
                        knowledge through no fault of the Receiving Party; or

                b)      such information can be shown by the Receiving Party by
                        its written records to have been in its possession prior
                        to receipt thereof hereunder; or

                c)      such information is received by the Receiving Party from
                        any THIRD PARTY for use or disclosure by the Receiving
                        Party without any obligation to the Disclosing Party
                        provided, however, that information received by the
                        Receiving Party from any THIRD PARTY funded by the
                        Disclosing Party (e.g. consultants, subcontractors,
                        etc.) shall not be released from confidentiality under
                        this exception; or

                d)      the disclosure of such information is reasonably needed
                        for use in connection with performing, offering and
                        selling LICENSED SERVICES; or

                e)      the disclosure of such information is required or
                        desirable to comply with or fulfill governmental
                        requirements, submissions to governmental bodies, or the
                        securing of regulatory approvals.

        9.4     With the exception of Section 2.5, each party shall, to the
extent reasonably practicable, maintain the confidentiality of the provisions
of this Agreement and shall refrain from making any public announcement or
disclosure of the terms of this Agreement without the prior consent of the
other party, except to the extent a party concludes in good faith that such
disclosure is required under applicable law or regulations, in which case the
other party shall be notified in advance.

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     10.  Compliance

          In exercising any and all rights and in performing its obligations
hereunder, VLI shall comply fully with any and all applicable laws, regulations
and ordinances and shall obtain and keep in effect licenses, permits and other
governmental approvals, whether at the federal, state or local levels, necessary
or appropriate to carry on its activities hereunder. VLI further agrees to
refrain from any activities that would have an adverse effect on the business
reputation of RMS. RMS will advise VLI of any such activities and VLI will have
thirty (30) days to correct such activity.

     11.  Assignment

          This Agreement shall not be assigned or transfered by VLI (including
without limitation any purported assignment or transfer that would arise from a
sale or transfer of VLI's business) without the express written consent of RMS.
RMS may assign all or any part of its rights and obligations under this
Agreement at any time without the consent of VLI. VLI agrees to execute such
further acknowledgements or other instruments as RMS may reasonably request in
connection with such assignment.

     12.  Negation of Warranties and Indemnity

          12.1 Nothing in this Agreement shall be construed as:

               a)   a warranty or representation by RMS as to the validity or
                    scope of any PCR TECHNOLOGY;

               b)   a warranty or representation that the practice of the PCR
                    TECHNOLOGY is or will be free from infringement of patents
                    of THIRD PARTIES;

               c)   an obligation to bring or prosecute actions or suits against
                    THIRD PARTIES for infringement;

               d)   except as expressly set forth herein, conferring the right
                    to use in advertising, publicity or otherwise any trademark,
                    trade name, or names, or any contraction, abbreviation,
                    simulation or adaptation thereof, of RMS;

               e)   conferring by implication, estoppel or otherwise any
                    license, right or immunity under any patents or patent
                    applications of RMS other than those specified in PCR
                    TECHNOLOGY, regardless of whether

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                    such patents and patent applications are dominant or
                    subordinate to those in PCR TECHNOLOGY;

               f)   an obligation to furnish any know-how not provided in PCR
                    TECHNOLOGY; or

               g)   creating any agency, partnership, joint venture or similar
                    relationship between RMS and VLI.

          12.2 RMS MAKES NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE

          12.3 VLI acknowledges that the technology licensed hereby is newly
developed, and agrees to take all reasonable precautions to prevent death,
personal injury, illness and property damage from the use of such technology.
VLI shall assume full responsibility for its use of the PCR TECHNOLOGY and shall
defend, indemnify and hold RMS harmless from and against all liability,
demands, damages, expenses (including attorneys' fees) and losses for death,
personal injury, illness, property damage or any other injury or damage,
including any damages or expenses arising in connection with state or federal
regulatory action (collectively "Damages"), resulting from the use by VLI,
including its officers, directors, agents and employees, of the PCR TECHNOLOGY
except, and to the extent that such Damages are caused by the negligence or
willful misconduct of RMS.

     13.  GENERAL

          13.1 This Agreement constitutes the entire agreement between The
Parties as to the subject matter hereof, and all prior negotiations,
representations, agreements and understandings are merged into, extinguished by
and completely expressed by it. This Agreement may be modified or amended only
by a writing executed by authorized officers of each of The Parties.

          13.2 Any notice required or permitted to be given by this Agreement
shall be given by postpaid, first class, registered or certified mail, or by
courier, properly addressed to the other party at the respective address as
shown below:

If to RMS:           Roche Molecular Systems, Inc.
                     340 Kingsland Street
                     Nutley, New Jersey 07110
                     Attn: Corporate Secretary

with a copy to:      Roche Molecular Systems, Inc.
                     1145 Atlantic Avenue, Suite 100
                     Alameda, California 94501
                     Attn: Licensing Manager

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If to VLI:          ViroLogic, Inc.
                    270 East Grand Avenue
                    South San Francisco, CA 94080
                    Attn: Martin H. Goldstein, President & COO

     Either party may change its address by providing notice to the other
party. Unless otherwise specified herein, any notice given in accordance with
the foregoing shall be deemed given within four (4) full business days after
the day of mailing, or one full day after the date of delivery to the courier,
as the case will be.

     13.3 Governing Law and Venue. This Agreement and its effect are subject to
and shall be construed and enforced in accordance with the law of the State of
New Jersey, U.S.A., except as to any issue which by the law of New Jersey
depends upon the validity, scope or enforceability of any patent within the PCR
TECHNOLOGY, which issue shall be determined in accordance with the applicable
patent laws of the United States. The Parties agree that the exclusive
jurisdiction and venue for any dispute or controversy arising from this
Agreement shall be in the United States District Court for the District of New
Jersey if federal jurisdiction exists, and if no federal jurisdiction exists,
then in the Superior Court of New Jersey.

     13.4 Arbitration. Notwithstanding the provisions of Section 13.3 above, any
dispute concerning solely the determination of facts such as, but not limited
to, (i) the value of a COMBINATION SERVICE and a LICENSED SERVICE pursuant to
Section 1.7; (ii) a determination of royalty rate payments owed pursuant to
Section 4.1; (iii) compliance with quality assurance pursuant to Article 5; or
(iv) good faith compliance with Article 6; and which dispute does not involve a
question of law, shall be settled by final and binding arbitration at a mutually
convenient location in the State of New Jersey pursuant to the commercial
arbitration rules of the American Arbitration Association, in accordance with
the following procedural process:

          a)   The arbitration tribunal shall consist of three arbitrators. In
               the request for arbitration and the answer thereto, each party
               shall nominate one arbitrator and the two arbitrators so named
               will then jointly appoint the third arbitrator as chairman of the
               arbitration tribunal.

          b)   The decision of the arbitration tribunal shall be final and
               judgment upon such decision may be entered in any competent court
               for juridical acceptance of such an award and order of
               enforcement. Each party hereby submits itself to the jurisdiction
               of the courts of the place of arbitration, but only for the entry
               of judgment with respect to the decision of the arbitrators
               hereunder.

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          13.5 Nothing in this Agreement shall be construed so as to require
the commission of any act contrary to law, and wherever there is any conflict
between any provision of this Agreement or concerning the legal right of The
Parties to enter into this contract and any statute, law, ordinance or treaty,
the latter shall prevail, but in such event the affected provisions of the
Agreement shall be curtailed and limited only to the extent necessary to bring
it within the applicable legal requirements.

          13.6 If any provision of this Agreement is held to be unenforceable
for any reason, it shall be adjusted rather than voided, if possible, in order
to achieve the intent of the parties to the extent possible. In any event, all
other provisions of this Agreement shall be deemed valid and enforceable to the
full extent possible.

     IN WITNESS WHEREOF, The Parties hereto have set their hands and seals and
duly executed this Agreement on the date(s) indicated below, to be effective on
EFFECTIVE DATE as defined herein.

ROCHE MOLECULAR SYSTEMS, INC.                VIROLOGIC, INC.

By: /s/ KATHY ORDONEZ                        By: /s/ MARTIN H. GOLDSTEIN
   --------------------------------             --------------------------------

Name:  Kathy Ordonez                         Name:  Martin H. Goldstein

Title: President                             Title: President & CEO

Date:  July 21, 1997                         Date:  Aug. 4, 1997
     ------------------------------               ------------------------------

                               Apprv'd As To Form
                                   LAW DEPT.

                                 By [initials]
                                ----------------

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ATTACHMENT I

                              COMBINATION SERVICES

<TABLE>
<CAPTION>
                                                  PERCENT OF NET SERVICE
                                                  REVENUES FOR COMBINATION
                                                  SERVICES WHICH IS
                                                  ATTRIBUTABLE TO LICENSED
LICENSED SERVICES                                 SERVICES
-----------------                                 ------------------------
<S>                                               <C>
Drug Susceptibility and Resistance Test                      [***]
</TABLE>

                               [TO BE DETERMINED]

[***] CONFIDENTIAL TREATMENT REQUESTED.
<PAGE>   15

                                 ATTACHMENT II

                             SUMMARY ROYALTY REPORT
                     for the Period _________ to __________

Licensee: Virologic, Inc.      Field of Use: In Vitro Human Diagnostic Services
Effective Date:                Royalty Rate: 18%

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
                           AMOUNT         NUMBER OF       COMPILATION               COMBINATION
                         BILLED PER     Lic. SERVICES          OF       DEDUCTION    SERVICE %    NEW SERVICE      EARNED
LICENSED SERVICE        Lic. SERVICE      PERFORMED         BILLINGS     ALLOWED   (FROM ATT. I)    REVENUES       ROYALTY
--------------------------------------------------------------------------------------------------------------------------
<S>                     <C>             <C>                 <C>         <C>         <C>           <C>              <C>
--------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------
                                          ROYALTY PAYMENT DUE
                                          --------------------------------------------------------------------------------
</TABLE>

*  Please attach, to this form, documentation or supplemental data for
   "Deductions Allowed."

** Combination Service %'s must be previously agreed upon. To confirm that a
   Combination Service % has been established or to propose this status, please
   contact Roche Licensing Dept. @ (510) 814-2984.

CHECK HERE IF THERE WERE NO LICENSED SERVICES PERFORMED FOR THIS REPORT
PERIOD: ____

I hereby certify the information set forth above is correct and complete with
respect to the amounts due under the applicable license agreement.

By:____________________________ Title: _____________________ Date: _____________
   (authorized signature)

Name (please print):__________________________________

________________________________________________________________________________
Mail completed form to: Roche Molecular Systems, Inc., P.O. Box 18139, Newark,
New Jersey 07191

<PAGE>   16
                 RIDER CONCERNING SUPPLEMENTAL PATENT RIGHTS TO
                         DIAGNOSTIC SERVICES AGREEMENT

The purpose of this rider is to set forth the agreement of Virologic, Inc.
("VLI") and Roche Molecular Systems, Inc. ("RMS") concerning the supplemental
rights to additional patents relating to PCR technology which RMS offers and
the parties agree to add the rights granted to VLI by the Agreement between the
parties, dated ________________ (the "Diagnostic Services Agreement").

1.   It is understood by the parties that RMS may, from time to time, come into
     possession or control of additional patents or claims of patents relating
     to PCR technology rights to which RMS may decide to offer to add to the
     Diagnostic Services Agreement and which VLI may desire to accept.
     Accordingly, appended hereto as APPENDIX A is a list of such additional
     patents or claims of patents as RMS is currently offering to which VLI, by
     its authorized representative, has indicated its acceptance thereof in
     accordance with the rights of use and all other pertinent obligations,
     restrictions and limitations as set forth in the Diagnostic Services
     Agreement.

2.   APPENDIX A may be amended by mutual agreement of the parties in writing so
     as to add additional patent rights being offered by RMS. Accordingly, a new
     APPENDIX A signed and dated by both parties shall supersede any prior
     APPENDIX A and shall become a part of this rider.

3.   It is expressly understood and agreed by the parties that the grant of
     additional patent rights herein does not in any way otherwise modify the
     Diagnostic Services Agreement and that all provisions of that Agreement
     shall remain in full force and effect as originally set forth therein. The
     term of the Diagnostic Services Agreement shall control the enjoyment of
     rights hereunder and is not extended by the rights granted hereby nor shall
     there be any additional royalty obligation to RMS beyond that set forth in
     said Agreement.

4.   In consideration of the further rights being granted hereunder, VLI agrees
     to remain in good faith compliance with the applicable terms of the
     Diagnostic Services Agreement, including reporting and payment of royalties
     and the limitation on use of PCR technology strictly for the performance of
     licensed services and not to make products.

5.   In the event that VLI's obligation to pay royalties under the Diagnostic
     Services Agreement for its rights to use the PCR technology shall cease for
     any reason, whether by termination, expiry, invalidation or otherwise, then
     the parties agree that this rider shall become null and void and the rights
     granted hereunder terminated without notice and the parties shall be free
     to negotiate a new agreement with respect to the patent rights listed on
     APPENDIX A.

                                             Accepted and Agreed,
ROCHE MOLECULAR SYSTEMS, INC.                VIROLOGIC, INC.

By: /s/ KATHY ORDONEZ                        By: /s/ MARTIN H. GOLDSTEIN
   --------------------------------             --------------------------------
   Kathy Ordonez                                Martin H. Goldstein

Title: President                             Title: President & CEO

Date:  July 21, 1997                         Date:  Aug. 4, 1997
     ------------------------------               ------------------------------

                               Apprv'd As To Form
                                    LAW DEPT.

                                 By: [initials]
                                    -----------
<PAGE>   17
                              APPENDIX A TO RIDER

Additional Patents

U.S. Patent Number 5,008,182
U.S. Patent Number 5,176,995
U.S. Patent Number 5,219,727
U.S. Patent Number 5,110,920

ROCHE MOLECULAR SYSTEMS, INC.                VIROLOGIC, INC.

By:  /s/ KATHY ORDONEZ                       By:  /s/ MARTIN H. GOLDSTEIN
   -------------------------                    -------------------------

Name: Kathy Ordonez                          Name: Martin H. Goldstein

Title: President                             Title: President and CFO

Date: July 21, 1997                          Date: Aug. 4, 1997
     -----------------------                      -----------------------

                               Apprv'd As To Form
                                   LAW DEPT.
                                 By [INITIALS]
                                 -------------<PAGE>   1
                                                                    Exhibit 10.8

                        PENTECH FINANCIAL SERVICES, INC.

                       MASTER EQUIPMENT LEASE COMMITMENT

     Subject to the conditions set forth in this Master Equipment Lease
Commitment ("Commitment"), the following leasing transaction is agreed to by and
between PENTECH FINANCIAL SERVICES, INC., a California corporation ("Lessor")
and VIROLOGIC, INC. a Delaware corporation ("Lessee"), in connection with the
terms and conditions of Master Equipment Lease No. 300601 (the "Lease").

     1.   MASTER EQUIPMENT LEASE with effective date of 3/28/00.

     2.   EQUIPMENT (all Equipment is to be acceptable to Lessor):

          (all Equipment is to be acceptable to Lessor): computers, test
equipment, office furniture and other related equipment to be approved by
Lessor. A percentage equal to 20% of the line amount but not more than 25% of
any individual schedule may be used for "soft cost" exclusions listed below.

          EXCLUSIONS: custom use equipment, software, installation and delivery
costs, purchase tax, tooling equipment, tenant improvements and items generally
considered fungible or expendable.

     3.   COMMITMENT AMOUNT. 1,000,000.00.

     4.   LEASE SUPPLEMENTS. This is a Master Equipment Lease transaction
whereby Supplements may be funded as Equipment is delivered. Supplements
scheduling Equipment to be subject to the Lease will each be for the term and
on the conditions set out herein. No individual Supplement shall be for less
than $50,000.

     5.   TERM. Each Supplement under the Lease will be for an initial term of
36 months commencing on the first day of the calendar month following delivery
and acceptance of the Equipment on the Supplement.

     6.   MONTHLY RENT PAYMENT. 3.144% of original Equipment cost, payable
monthly in advance.

     7.   COMMENCEMENT DATE. Monthly rent for each Supplement will commence on
the first day of the calendar month following delivery and acceptance of the
Equipment on the Supplement.

     8.   INTERIM RENT. Interim rent will be charged for the period commencing
on delivery and acceptance of the Equipment on any particular Supplement and
ending the last day in that month, and will be the daily equivalent of the
Monthly Rent Payment, computed on a thirty (30) day month.

     9.   COMMITMENT EXPIRATION DATE. December 31, 2000.

     Lessee acknowledges that Lessor will have no further obligations hereunder
as to any item of Equipment not included on any Supplement under the Lease
after the Commitment Expiration Date.

<PAGE>   2
     10.  RATE ADJUSTMENT. The Monthly Lease Rate Factor will be indexed to the
thirty (30) day London Inter Bank Offer Rate ("LIBOR") (the "Index Instrument")
which on the date of the proposal was 5.78125% (Wall Street Journal dated
January 14, 2000). The Monthly Lease Rate Factor shall be adjusted to provide
for any increase or decrease, with a floor of 5.78125%. At the Commencement
Date of each Supplement, the Monthly Lease Rate Factor shall be fixed for the
initial term of such Supplement.

     11.  DOCUMENTATION. Prior to the Lessor issuing a purchase order for any
item of Equipment, Lessee will comply with, procure and/or execute, have
executed, acknowledge, have acknowledged, deliver to Lessor, record and file
any documents, or produce such evidence, facts or figures as set forth in
Exhibit A accompanying this Commitment, and will do likewise as to any further
documents, evidence, facts or figures that Lessor and its counsel may now or
hereafter deem necessary or advisable to protect Lessor's rights under the
Lease and Supplements and its interest in the Equipment. Lessee will pay as
directed by Lessor, or will reimburse Lessor on demand, for all reasonable
out-of-pocket costs, including legal, appraisal, due diligence, title and lien
searches, UCC recording, documentation and other charges incurred by Lessor in
connection with the Lease and Supplements. The form, substance and sufficiency
of all documents employed in documenting the Lease and Supplements contemplated
hereby must be acceptable to Lessor and its counsel. Such costs and charges not
to exceed $5,000 in the aggregate for all Leases and Supplements.

     12.  TERMINATION. Lessor, in its sole discretion, retains the right to
delay or to cancel lease funding commitments if adverse change in Lessee's
financial condition occurs which has, in Lessor's sole discretion, materially
impacted or which may materially impact Lessee's credit capability. Lessor may,
at its option, terminate its obligation to Lessee hereunder (a) at or
subsequent to the Commitment Expiration Date; (b) upon the advent of a material
adverse change, in Lessor's sole discretion, in Lessee's financial condition or
Lessee's probable ability to perform its obligations under the Lease and
Supplements; (c) if the Lease, any Supplement, or any other agreement under
which Lessee has the obligation to Lessor is in default or an event which would
constitute a default under the Lease, any Supplement or any other agreement has
occurred and is continuing; or (d) with respect to any item if the shipping
costs, installation charges and design costs applicable thereto exceed more
than fifteen percent (15%) of its total cost to Lessor. Termination shall occur
upon Lessor's giving three (3) days written notice of termination to Lessee. In
the event Lessor elects to terminate its obligation to Lessee as described
herein, Lessee will purchase all of Lessor's right, title and interest in the
Equipment subject to the Lease and Supplements thereto for the amount Lessor
has paid or has become obligated to pay on account thereof, plus interest on
amounts actually paid at the rate of eighteen percent (18%) per annum, or such
greater or lesser contract rate as may be applicable to Lessor, from the date
paid to the date of Lessee's repurchase. Lessee acknowledges that Lessee will,
upon demand by Lessor, pay directly to the appropriate party the amount of any
invoice which may be furnished to Lessor subsequent to inclusion of the
applicable item of Equipment on a Supplement.

     ACCEPTED AND AGREED to on 3/28/00.

LESSOR:                                      LESSEE:

PENTECH FINANCIAL SERVICES, INC.             VIROLOGIC, INC.
a California corporation                     a Delaware corporation

By:                                          By: /s/ Martin H. Goldstein
     -------------------------                   -----------------------
     Benjamin E. Millerbis                   Name  Martin H. Goldstein
                                                 -----------------------
Its: President                               Its:  President
                                                 -----------------------

<PAGE>   3
                 EXHIBIT A TO MASTER EQUIPMENT LEASE COMMITMENT

These provisions hereby become part of the Master Equipment Lease Commitment
for Master Equipment Lease No. 300601 with effective date of 3/28/00 between
PENTECH FINANCIAL SERVICES, INC., Lessor, and VIROLOGIC INC., Lessee, as
supplemented by the terms described in that certain proposal letter from Lessor
to Lessee dated February 24, 2000, executed by Lessee as of March 2, 2000.

In addition to the terms of the Master Equipment Lease Agreement (the
"Agreement"), Lessee further agrees to the following additional provisions:

1.   UCC SEARCH/RELEASES: The Lessor may search all public records and filings
of Lessee to locate and identify any conflicting liens against the Equipment.
UCC releases from any intervening parties holding a security interest in said
Equipment shall be required prior to funding any Supplement.

2.   TYPE OF LEASE: This is a net lease transaction whereby maintenance,
insurance, property taxes, and all items of a similar nature are solely for the
account of the Lessee.

3.   EXPENSES: All expenses associated with the lease transaction contemplated
hereby including, but not limited to, UCC filing fees and searches,
documentation costs, legal expenses, and equipment verification costs are
solely for the account of the Lessee, provided that such expense shall not
exceed $5,000 in the aggregate for all Supplements.

4.   LEASE DEPOSIT: Lessee shall provide Lessor a Lease Deposit in the amount
of $10,000, receipt of which is hereby acknowledged. This deposit shall be
applied to Lessee's first monthly rent payment on a prorated basis for each
Supplement funded under the Lease. The balance of any unapplied Lease Deposit
as of the Commitment Expiration Date shall be deemed to have been earned by
Lessor as of that date.

5.   COMMITMENT EXPIRATION: The Commitment Expiration Date may be extended, in
Lessor's sole discretion, upon review by Lessor of the Lessee's then current
financial condition. Lessee agrees to provide Lessor such financial and other
information as Lessor may reasonably request to evaluate Lessee's financial
condition for purposes of granting such extension.

               ADDITIONAL EQUIPMENT LEASE COMMITMENT PROVISIONS:

A.   MONTHLY FINANCIAL STATEMENTS: Lessee agrees that for so long as any item
of equipment shall be leased under the Agreement, Lessee will deliver or cause
to be delivered to Lessor (a) as soon as practicable after the end of each
month, monthly financial statements for the month just closed, including
balance sheet, and related statements of income and expense for such month, all
in reasonable detail prepared in accordance with generally accepted accounting
principles consistently applied throughout the period involved and certified by
Lessee's chief financial officer; and (b) as soon as practicable, and in any
event within 120 days after the close of each fiscal year of Lessee, the
audited balance sheet of Lessee as of the end of such fiscal year together with
the related statements of income and expense for such fiscal year together with
the related statements of income and expense for such fiscal year, all in
reasonable detail, prepared in accordance with generally accepted accounting
principles consistently applied throughout the period involved and certified by
an independent certified public accountant acceptable to Lessor.

B.   ANNUAL FINANCIAL STATEMENTS: Lessee agrees to provide Lessor with Lessee's
annually audited financial statements within 120 days of the close of Lessee's
fiscal year end.

C.   ADVANCE PAYMENTS: The first and last month's rent under any Supplement
will be payable prior to the Commencement Date of the Supplement.

D.   PURCHASE OPTION: Lessee shall purchase all but not less than all of the
equipment under any lease schedule at a price equal to 11% of its original cost
at the end of the Initial Term ("Purchase Option").

E.   ADVERTISING: During the term of any schedule or supplement under this
Master Lease line, Lessor may publish, for the purpose of its own advertising
and promotion only, via print and/or electronic media, the name and the logo of
Lessee, together with the total amount of the Master Lease Line.

F.   WARRANTS: Lessee shall issue to Lessor a Warrant to purchase 23,585 shares
of Virologic, Inc. Series C Preferred Stock at a strike price of $2.12 per
share. The Warrant shall have an exercise term of 10 years from the date of
issue and shall contain standard anti-dilution provisions. The Warrant may be
exchanged without the payment of any additional consideration for stock based
upon the value of the common or preferred stock at the exchange, i.e., net
issuance.

<PAGE>   4
                            CERTIFICATE OF SECRETARY
                         AS TO ADOPTION OF RESOLUTIONS

     The undersigned, _________________________________ (Corporate Secretary)
hereby certifies that he/she is now, and at all times herein mentioned has
been, the duly elected, qualified and acting Secretary of Virologic, Inc., a
Delaware corporation, a duly organized and existing corporation, and in charge
of the minute book and corporate records of said corporation; that the
following is a full, true and correct copy of certain resolutions adopted by
the Board of Directors of said corporation at a meeting thereof duly held on
__________________ (Date), at which meeting a quorum of said Board was at all
times present and acting; and that said resolutions have not been modified nor
rescinded and are at the date of this Certificate in full force and effect:

WHEREAS it is in the best interest of this corporation to enter into a certain
Equipment Lease Agreement, Equipment Financing Agreement or other financing
agreement with PENTECH FINANCIAL SERVICES, INC. ("Lessor/Secured Party") and,
where appropriate, commitments, now or hereafter contemplating the receipt by
this corporation of financial accommodation from Lessor/Secured Party under the
terms and conditions of said Equipment Lease Agreement, Equipment Financing
Agreement or other financing agreement and may in the future be in this
corporation's best interests to enter into such agreements or other financing
agreements with Lessor/Secured Party.

NOW THEREFORE BE IT RESOLVED: That the officers of this corporation listed
below, and each of them, are hereby authorized and directed to execute,
acknowledge and deliver in the name of and on behalf of this corporation said
Equipment Lease Agreement, Equipment Financing Agreement or other financing
agreement, commitments and any such further agreement.

RESOLVED FURTHER: That the officers, agents and employees of this corporation
be and each of them is hereby authorized and empowered to do and perform such
other acts and things, and to make, execute, acknowledge, procure and deliver
all such other instruments and documents on behalf of this corporation as may
be necessary or be by such officer, agent or employee deemed appropriate to
comply with, or to evidence compliance with, the terms, conditions or
provisions of said Equipment Lease Agreement, Equipment Financing Agreement or
other financing agreement, any commitment or any further agreement and to
consummate the transactions from time to time contemplated thereby.

RESOLVED FURTHER: That this corporation hereby ratifies and confirms the acts
of the officer, agents or employees of this corporation in heretofore entering
into any Equipment Lease Agreement, Equipment Financing Agreement, commitment
or other agreement with Lessor/Secured Party together with any other acts
performed in relation thereto.

RESOLVED FURTHER: That the Secretary of this corporation be and he/she is
hereby authorized and directed to execute, acknowledge and deliver a certified
copy of these resolutions to Lessor/Secured Party and any other person or
agency which may require a copy of these resolutions.

RESOLVED FURTHER: That the following are the true names and specimen signatures
of the incumbent officers of this corporation authorized by these resolutions
to so execute, acknowledge and deliver said Equipment Lease Agreement,
Equipment Financing Agreement or other agreement, commitment and further
agreements.

(Typed Name)                           (Specimen Signature)

__________________________, President   /s/ Martin H. Goldstein

__________________________, Vice Pres.  ________________________________

__________________________, Secretary   ________________________________

__________________________, CFO         ________________________________

RESOLVED FURTHER: That Lessor/Secured Party is authorized to act upon these
resolutions until written notice of the revocation thereof is delivered to
Lessor/Secured Party, any such revocation in no way to affect the obligations
of this corporation to Lessor/Secured Party under any agreements entered into
by this corporation pursuant to the terms of these resolutions prior to receipt
by Lessor/Secured Party of such notice of revocation.

IN WITNESS WHEREOF, the undersigned has executed this Certificate as of March
__, 2000.

                                        ____________________________________
                                                              (Secretary)

<PAGE>   5
                        PENTECH FINANCIAL SERVICES, INC.

                         EQUIPMENT FINANCING AGREEMENT
                                   EFA#200371

THIS EQUIPMENT FINANCING AGREEMENT ("Agreement") with effective date of 3/28/00
("Effective Date"), is entered into by and between PENTECH FINANCIAL SERVICES,
INC., a California corporation ("Secured Party") and VIROLOGIC, INC., a
Delaware corporation ("Debtor").

1.  EQUIPMENT; SECURITY INTEREST. The terms and conditions of this Agreement
cover each item of machinery, equipment and other property (individually an
"Item" or "Item of Equipment" and collectively the "Equipment") described in a
schedule now or hereafter executed by the parties hereto and made a part hereof
(individually a "Schedule" and collectively the "Schedules"). Debtor hereby
grants Secured Party a security interest in and to all Debtor's right, title
and interest in and to the Equipment under the Uniform Commercial Code, such
grant with respect to an Item of Equipment to be effective as of Debtor's
execution of a related equipment financing commitment referencing this
Agreement or, if Debtor then has no interest in such Item, as of such
subsequent time as Debtor acquires an interest in the Item. Such security
interest is granted by Debtor to secure performance by Debtor of Debtor's
obligations to Secured Party hereunder and under any other agreements under
which Debtor has or may hereafter have obligations to Secured Party. Debtor
will ensure that such security interest will be and remain a sole and valid
first lien security interest subject only to the lien of current taxes and
assessments not in default but only if such taxes are entitled to priority as a
matter of law.

2.  DEBTOR'S OBLIGATIONS. The obligations of Debtor under this Agreement
respecting an Item of Equipment, except the obligation to pay installment
payments with respect thereto which will commence as set forth in paragraph 3
below, commence upon the grant to Secured Party of a security interest in the
Item. Debtor's obligations hereunder with respect to an Item of Equipment and
Secured Party's security interest therein will continue until payment of all
amounts due, and performance of all terms and conditions required, hereunder
with respect thereto; provided, however, that if this Agreement is then in
default said obligations and security interest will continue during the
continuance of said default. Upon termination of Secured Party's security
interest in an Item of Equipment, Secured Party will execute such release of
interest with respect thereto as Debtor reasonably requests.

3.  INSTALLMENT PAYMENTS AND OTHER PAYMENTS. Debtor will repay advances Secured
Party makes on account of the Equipment together with interest in installment
payments in the amounts and at the times set forth in the Schedules, whether or
not Secured Party has rendered an invoice therefor, at the office of Secured
Party set forth at the foot hereof, or to such person and/or at such other
place as Secured Party may from time to time designate on notice to Debtor. Any
other amounts required to be paid Secured Party by Debtor hereunder are due
upon Debtor's receipt of Secured Party's invoice therefor and will be payable
as directed in the invoice. Payments under this Agreement may be applied to
Debtor's then accrued obligations to Secured Party in such order as Secured
Party may choose.

4.  NET AGREEMENT; NO OFFSET; SURVIVAL. This Agreement is a net agreement, and
Debtor will not be entitled to any abatement of installment payments or other
payments due hereunder or any reduction thereof under any circumstances or for
any reason whatsoever. Debtor hereby waives any and all existing and future
claims, as offsets, against any installment payments or other payments due
hereunder and agrees to pay the installment payments and other amounts due
hereunder as and when due regardless of any offset or claim which may be
asserted by Debtor or on its behalf. The obligations and liabilities of Debtor
hereunder will survive the termination of this Agreement.

5.  FINANCING AGREEMENT. THIS AGREEMENT IS SOLELY A FINANCING AGREEMENT. DEBTOR
ACKNOWLEDGES THAT THE EQUIPMENT HAS OR WILL HAVE BEEN SELECTED AND ACQUIRED
SOLELY BY DEBTOR FOR DEBTOR'S PURPOSES, THAT SECURED PARTY IS NOT AND WILL NOT
BE THE VENDOR OF ANY EQUIPMENT AND THAT EXCEPT FOR SECURED PARTY'S WARRANTY OF
QUIET ENJOYMENT IN THE EQUIPMENT SECURED PARTY HAS NOT MADE AND WILL NOT MAKE
ANY AGREEMENT, REPRESENTATION OR WARRANTY WITH RESPECT TO THE MERCHANTABILITY,
CONDITION, QUALIFICATION OR FITNESS FOR A PARTICULAR PURPOSE OR VALUE OF THE
EQUIPMENT OR ANY OTHER MATTER WITH RESPECT THERETO IN ANY RESPECT WHATSOEVER.

6.  NO AGENCY. DEBTOR ACKNOWLEDGES THAT NO AGENT OF THE MANUFACTURER OR OTHER
SUPPLIER OF AN ITEM OF EQUIPMENT OR OF ANY FINANCIAL INTERMEDIARY IN CONNECTION
WITH THIS AGREEMENT IS AN AGENT OF SECURED PARTY. SECURED PARTY IS NOT BOUND BY
A REPRESENTATION OF ANY SUCH PARTY AND, AS CONTEMPLATED IN PARAGRAPH 27 BELOW,
THE ENTIRE AGREEMENT OF SECURED PARTY AND DEBTOR CONCERNING THE FINANCING OF
THE EQUIPMENT IS CONTAINED IN THIS AGREEMENT AS IT MAY BE AMENDED AS PROVIDED
IN THAT PARAGRAPH.

7.  ACCEPTANCE. Execution by Debtor and Secured Party of a Schedule covering
the Equipment or any Items thereof will conclusively establish that such
Equipment has been included under and will be subject to all the terms and
conditions of this Agreement. If Debtor has not furnished Secured Party with a
Schedule by the earlier of fourteen (14) days after receipt thereof or
expiration of the commitment period set forth in the applicable equipment
financing commitment, Secured Party may terminate its obligation to advance
funds as to the applicable Equipment.

8.  LOCATION; INSPECTION; USE. Debtor will keep, or in the case of motor
vehicles, permanently garage and not remove from the United States, as
appropriate, each Item of Equipment in Debtor's possession and control at the
Equipment Location designated in the applicable Schedule, or at such other
location to which such Item of Equipment may have been moved with the prior
written consent of Secured Party. Whenever requested by Secured Party, Debtor
will advise Secured Party as to the exact location of an Item of Equipment.
Secured Party will have the right to inspect the Equipment and observe its use
during normal business hours and to enter into and upon the premises where the
Equipment may be located upon reasonable notice to Debtor, for such purpose.
The Equipment will at all times be used solely for commercial or business
purposes and operated in a careful and proper manner and in compliance with all
applicable laws, ordinances, rules and regulations, all conditions and
requirements of the policy or policies of insurance required to be carried by
Debtor under the terms of this Agreement and all manufacturer's instructions
and warranty requirements. Any modifications or additions to the Equipment
required by any such governmental edict or insurance policy will be promptly
made by Debtor.

9.  ALTERATIONS; SECURITY INTEREST COVERAGE. Without the prior written consent
of Secured Party, Debtor will not make any alterations, additions or
improvements to any Item of Equipment which detract from its economic value or
functional utility, except as may be required pursuant to paragraph 8 above.
Secured Party's security interest in the Equipment will include all
modifications and additions thereto and replacements
<PAGE>   6
and substitutions therefor, in whole or in part. Such reference to replacements
and substitutions will not grant Debtor greater rights to replace or substitute
than are provided in paragraph 11 below or as may be allowed upon the prior
written consent of Secured Party.

10. MAINTENANCE. Debtor will maintain the Equipment in good repair, condition
and working order. Debtor also will cause each Item of Equipment for which a
service contract is generally available to the covered by such a contract which
provides coverages typical as to property of the type involved and is issued by
a competent servicing entity.

11. LOSS AND DAMAGE; CASUALTY VALUE. In the event of the loss of, theft of,
requisition of, damage to or destruction of an Item of Equipment ("Casualty
Occurrence") Debtor will give Secured Party prompt notice thereof and will
thereafter place such Item in good repair, condition and working order;
provided, however, that if such Item is determined by Secured Party to be lost,
stolen, destroyed or damaged beyond repair, is requisitioned or suffers a
constructive total loss as defined in any applicable insurance policy carried
by Debtor in accordance with paragraph 14 below, Debtor, at Secured Party's
option, will (a) replace the Item with like equipment in good repair, condition
and working order whereupon such replacement equipment will be deemed such Item
for all purposes hereof or (b) pay Secured Party the "Casualty Value" of such
Item which will equal the total of (i) all installment payments and other
amounts due from Debtor to Secured Party at the time of such payment and (ii)
each future installment payment due with respect to such Item with each such
payment other than any final uneven payment discounted at eight percent (8%)
per annum simple interest from the date due to the date of such payment. Any
final uneven payment will be due without discount. The discounting contemplated
in this paragraph will be in accordance with the Financial Compound Interest
and Annuity Tables, Sixth Edition published by the Financial Publishing
Company. Upon such replacement or payment, as appropriate, this Agreement and
Secured Party's security interest will terminate with, and only with, respect
to the Item of Equipment so replaced or as to which such payment is made in
accordance with paragraph 2 above.

12. TITLING; REGISTRATION. Each Item of Equipment subject to title registration
laws will at all times be titled and/or registered by Debtor as Secured Party's
agent and attorney-in-fact with full power and authority to register (but
without power to affect title to) the Equipment in such manner and in such
jurisdiction or jurisdictions as Secured Party directs. Debtor will promptly
notify Secured Party of any necessary or advisable retitling and/or
reregistration of an Item of Equipment in a jurisdiction other than one in which
such Item is then titled and/or registered. Any and all documents of title
will be furnished or caused to be furnished Secured Party by Debtor within
sixty (60) days of the date any titling or registering or retitling or
reregistering, as appropriate, is directed by Secured Party.

13. TAXES. Debtor will make all filings as to and pay when due all personal
property and other ad valorem taxes and all other taxes, fees, charges and
assessments based on the ownership or use of the Equipment and will pay as
directed by Secured Party or reimburse Secured Party for all taxes, including,
but not limited to, gross receipts taxes (exclusive of federal and state taxes
based on Secured Party's net income, unless such net income taxes are in
substitution for or relieve Debtor from any taxes which Debtor would otherwise
be obligated to pay under the terms of this paragraph 13), fees, charges and
assessments whatsoever, however designated, whether based on the installment
payments or other amounts due hereunder, levied, assessed or imposed upon the
Equipment or otherwise related hereto or to the Equipment, now or hereafter
levied, assessed or imposed under the authority of a federal, state or local
taxing jurisdiction, regardless of when and by whom payable. Filings with
respect to such other amounts will, at Secured Party's option, be made by
Secured Party or by Debtor as directed by Secured Party.

14. INSURANCE. Debtor will procure and continuously maintain all risk insurance
against loss of or damage to the Equipment from any cause whatsoever for not
less than the full replacement value thereof naming Secured Party as Loss Payee.
Such insurance must be in a form and with insurers as are customary for
businesses similar to Debtor's, must provide at least thirty (30) days advance
written notice to Secured Party of cancellation, change or modification in any
term, condition or amount of protection provided therein, must provide full
breach of warranty protection and must provide that the coverage is "primary
coverage" (does not require contribution from any other applicable coverage).
Debtor will provide Secured Party with an original policy or certificate
evidencing such insurance. In the event of an assignment of this Agreement by
Secured Party of which Debtor has notice, Debtor will cause such insurance to
provide the same protection to the assignee as its interest may appear. The
proceeds of such insurance, at the option of Secured Party or such assignee, as
appropriate, will be applied toward (a) the repair or replacement of the
appropriate Item or Items of Equipment, (b) payment of the Casualty Value
thereof or (c) payment of, or as provision for, satisfaction of any other
accrued obligations of Debtor hereunder. Debtor hereby appoints Secured Party
as Debtor's attorney-in-fact with full power and authority to do all things,
including, but not limited to, making claims, receiving payments and endorsing
documents, checks or drafts, necessary to secure payments due under any policy
contemplated hereby on account of a Casualty Occurrence. Debtor and Secured
Party contemplate that the jurisdictions where the Equipment will be located
will not impose any liability upon Secured Party for personal injury and/or
property damage resulting out of the possession, use, operation or condition of
the Equipment. In the event Secured Party determines that such is not or may
not be the case with respect to a given jurisdiction, Debtor will provide
Secured Party with public liability and property damage coverage applicable to
the Equipment in such amounts and in such form as Secured Party requires.

15. SECURED PARTY'S PAYMENT. If Debtor fails to pay any amounts due hereunder
or to perform any of its other obligations under this Agreement, Secured Party
may, at its option, but without any obligation to do so, pay such amounts or
perform such obligations, and Debtor will reimburse Secured Party the amount of
such payment or cost of such performance.

16. INDEMNITY. Debtor does hereby assume liability for and does agree to
indemnify, defend, protect, save and keep harmless Secured Party from and
against any and all liabilities, losses, damages, penalties, claims, actions,
suits, costs, expenses and disbursements, including court costs and legal
expenses, of whatever kind and nature, imposed on, incurred by or asserted
against Secured Party and not resulting from the gross negligence or willful
misconduct of Secured Party (whether or not also indemnified against by any
other person) in any way relating to or arising out of this Agreement or the
manufacture, financing, ownership, delivery, possession, use, operation,
condition or disposition of the Equipment by Secured Party or Debtor,
including, without limitation, any claim alleging latent and other defects,
whether or not discoverable by Secured Party or Debtor, and any other claim
arising out of strict liability in tort, whether or not in either instance
relating to an event occurring while Debtor remains obligated under this
Agreement, and any claim for patent, trademark or copyright infringement.
Debtor agrees to give Secured Party and Secured Party agrees to give Debtor
notice of any claim or liability hereby indemnified against promptly following
learning thereof.

17. DEFAULT. Any of the following will constitute an event of default here
under: (a) Debtor's failure to pay when due any installment payment or other
amount due hereunder, which failure continues for ten (10) days after the due
date thereof; (b) Debtor's default in performing any other obligation, term or
condition of this Agreement or any other agreement between Debtor and Secured
Party or default under any further agreement providing security for the
performance by Debtor of its obligations hereunder, provided such default has
continued for more than twenty (20) days, except as provided in (c) and (d)
hereinbelow, or, without limiting the generality of subparagraph (1)
hereinbelow, default under any lease or any mortgage or other instrument
contemplating the provision of financial accommodation applicable to the real
estate where an Item of Equipment is located; (c) any writ or order of
attachment or execution or other legal process being levied on or charged
against any Item of Equipment and not being released or satisfied within
forty-five (45) days; (d) Debtor's failure to comply with its obligations under
paragraph 14 above or any transfer by Debtor in violation of paragraph 21 below;
(e) a non-appealable judgment for the payment of money in excess of $100,000
being rendered by a court of record against Debtor which Debtor does not
discharge or make provision for discharge in accordance with the terms thereof
within ninety (90) days from the date of entry thereof; (f) death or judicial
declaration of incompetency of Debtor, if an individual; (g) the filing by
Debtor of a petition under the Bankruptcy Act or any amendment thereto or under
any other insolvency law or law providing for the relief of debtors, including,
without limitation, a petition for reorganization, arrangement or extension, or
the commission by Debtor of an act of bankruptcy; (h) the filing against Debtor
of any such petition not dismissed or permanently stayed within (60) days of the
filing thereof; (i) the voluntary or involuntary making of an assignment of
substantial portion of its assets by Debtor for the benefit of creditors,
appointment of a receiver or trustee for Debtor or for any of Debtor's assets,
institution by or against Debtor

                                                                               2
<PAGE>   7
or any other type of insolvency proceeding (under the Bankruptcy Code or
otherwise) or of any formal or informal proceeding for dissolution,
liquidation, settlement of claims against or winding up of the affairs of
Debtor, Debtor's cessation of business activities or the making by Debtor of a
transfer of all or a material portion of Debtor's assets or inventory not in
the ordinary course of business; (j) the occurrence of any event described in
parts (e), (f), (g), (h) or (i) hereinabove with respect to any guarantor or
other party liable for payment or performance of this Agreement; (k) any
certificate statement, representation, warranty or audit heretofore or
hereafter furnished with respect hereto by or on behalf of Debtor or any
guarantor or other party liable for payment or performance of this Agreement
proving to have been false in any material respect at the time as of which the
facts therein set forth were stated or certified or having omitted any
substantial contingent or unliquidated liability or claim against Debtor or any
such guarantor or other party; (l) breach by Debtor of any lease or agreement
providing financial accommodation under which Debtor or its property is bound
or (m) a transfer of effective control of Debtor, if an organization.

18. REMEDIES. Upon the occurrence of an event of default, Secured Party will
have the rights, options, duties and remedies of a secured party, and Debtor
will have the rights and duties of a debtor, under the Uniform Commercial Code
(regardless of whether such Code or a law similar thereto has been enacted in a
jurisdiction wherein the rights or remedies are asserted) and, without limiting
the foregoing, Secured Party may exercise any one or more of the following
remedies: (a) declare the Casualty Value or such lesser amount as may be set by
law immediately due and payable with respect to any or all Items of Equipment
without notice or demand to Debtor; (b) sue from time to time for and recover
all installment payments and other payments then accrued and which accrue
during the pendency of such action with respect to any or all Items of
Equipment; (c) take possession of and, if deemed appropriate, render unusable
any or all Items of Equipment, without demand or notice, wherever same may be
located, without any court order or other process of law and without liability
for any damages occasioned by such taking of possession and remove, keep and
store the same or use and operate or lease the same until sold; (d) require
Debtor to assemble any or all Items of Equipment at the Equipment Location
therefor, such location to which such Equipment may have been moved with the
written consent of Secured Party or such other location in reasonable proximity
to either of the foregoing as Secured Party designates; (e) upon ten days
notice to Debtor or such other notice as may be required by law, sell or
otherwise dispose of any Item of Equipment, whether or not in Secured Party's
possession, in a commercially reasonable manner at public or private sale at
any place deemed appropriate and apply the net proceeds of such sale, after
deducting all costs of such sale, including, but not limited to, costs of
transportation, repossession, storage, refurbishing, advertising and broker's
fees, to the obligations of Debtor to Secured Party hereunder or otherwise,
with Debtor remaining liable for any deficiency and with any excess being
returned to Debtor; (f) upon thirty (30) days notice to Debtor, retain any
repossessed or assembled Items of Equipment as Secured Party's own property in
full satisfaction of Debtor's liability for the installment payments due
hereunder with respect thereto, provided that Debtor will have the right to
redeem such Items by payment in full of its obligations to Secured Party
hereunder or otherwise or to require Secured Party to sell or otherwise dispose
of such Items in the manner set forth in subparagraph (e) hereinabove upon
notice to Secured Party within such thirty (30) day period or (g) utilize any
other remedy available to Secured Party under the Uniform Commercial Code or
similar provision of law or otherwise at law or in equity.

No right or remedy conferred herein is exclusive of any other right or remedy
conferred herein or by law; but all such remedies are cumulative of every other
right or remedy conferred hereunder or at law or in equity, by statute or
otherwise, and may be exercised concurrently or separately from time to time.
Any sale contemplated by subparagraph (e) of this paragraph 18 may be adjourned
from time to time by announcement at the time and place appointed for such
sale, or for any such adjourned sale, without further published notice, and
Secured Party may bid and become the purchaser at any such sale. Any sale of
an Item of Equipment, whether under said subparagraph or by virtue of judicial
proceedings, will operate to divest all right, title, interest, claim and
demand whatsoever, either at law or in equity, of Debtor in and to said Item
and will be a perpetual bar to any claim against such Item, both at law and in
equity, against Debtor and all persons claiming by, through or under Debtor.

19. DISCONTINUANCE OF REMEDIES. If Secured Party proceeds to enforce any right
under this Agreement and such proceedings are discontinued or abandoned for any
reason or are determined adversely, then and in every such case Debtor and
Secured Party will be restored to their former positions and rights thereunder.

20. SECURED PARTY'S EXPENSES. Debtor will pay Secured Party all costs and
expenses, including reasonable attorney's fees and court costs and sales costs
not offset against sales proceeds under paragraph 18 above, incurred by Secured
Party in exercising any of its rights or remedies hereunder or enforcing any of
the terms, conditions or provisions hereof. This obligation includes the
payment or reimbursement of all such amounts whether an action is ultimately
filed and whether an action filed is ultimately dismissed.

21. ASSIGNMENT. Without the prior written consent of Secured Party, Debtor will
not sell, lease, pledge or hypothecate, except as provided in this Agreement, an
Item of Equipment or any interest therein or assign, transfer, pledge or
hypothecate this Agreement or any interest in this Agreement or permit the
Equipment to be subject to any lien, charge or encumbrance of any nature except
the security interest of Secured Party contemplated hereby. Debtor's interest
herein is not assignable and will not be assigned or transferred by operation
of law. Consent to any of the foregoing prohibited acts applies only in the
given instance and is not a consent to any subsequent like act by Debtor or any
person.

All rights of Secured Party hereunder may be assigned, pledged, mortgaged,
transferred or otherwise disposed of, either in whole or in part, without
notice to Debtor but always, however, subject to the rights of Debtor under
this Agreement. If Debtor is given notice of any such assignment, Debtor will
acknowledge receipt thereof in writing. In the event Secured Party assigns this
Agreement or the installment payments due or to become due hereunder or any
other interest herein, whether as security for any of its indebtedness or
otherwise, no breach or default by Secured Party hereunder or pursuant to any
other agreement between Secured Party and Debtor, should there be one, will
excuse performance by Debtor of any provision hereof, it being understood that
in the event of such default or breach by Secured Party that Debtor will pursue
any rights on account thereof solely against Secured Party. No such assignee,
unless such assignee agrees in writing, will be obligated to perform any duty,
covenant or condition required to be performed by Secured Party in connection
with this Agreement.

Subject always to the foregoing, this Agreement insures to the benefit of, and
is binding upon, the heirs, legatees, personal representatives, successors and
assigns of the parties hereto.

22. MARKINGS; PERSONAL PROPERTY. If Secured Party supplies Debtor with labels,
plates, decals or other markings stating that Secured Party has an interest in
the Equipment, Debtor will affix and keep the same prominently displayed on the
Equipment or will otherwise make the Equipment or its then location or
locations, as appropriate, at Secured Party's request to indicate Secured
Party's security interest in the Equipment. The Equipment is, and at all times
will remain, personal property notwithstanding that the Equipment or any Item
thereof may now be, or hereafter become, in any manner affixed or attached to,
or embedded in, or permanently resting upon real property or any improvement
thereof or attached in any manner to what is permanent as by means of cement,
plaster, nails, bolts, screws or otherwise. If requested by Secured Party,
Debtor will obtain and deliver to Secured Party waivers of interest or liens in
recordable form satisfactory to Secured Party from all persons claiming any
interest in the real property on which an Item of Equipment is or is to be
installed or located.

23. LATE CHARGE. If Debtor fails to pay any installment payment or any other
sum to be paid by Debtor to Secured Party when due, Debtor will pay to Secured
Party (a) a late charge equal to 5% of the installment payment, (b) Secured
Party's collection costs paid third parties relevant to the collection thereof
and (c) interest on such unpaid installment or other amount at the rate of
eighteen percent (18%) per annum, or at such greater or lesser contract rate as
may be applicable, computed from the date due to the date paid.

                                                                               3

<PAGE>   8
24.  NON-WAIVER. No covenant or condition of this Agreement can be waived
except by the written consent of Secured Party. Forbearance or indulgence by
Secured Party in regard to any breach hereunder will not constitute a waiver of
the related covenant or condition to be performed by Debtor.

25.  ADDITIONAL DOCUMENTS. In connection with and in order to perfect and
evidence the security interest in the Equipment granted Secured Party hereunder
Debtor will execute and deliver to Secured Party such financing statements and
similar documents as Secured Party reasonably requests. Debtor authorizes
Secured Party where permitted by law to make filings of such financing
statements without Debtor's signature. Debtor further will furnish Secured
Party (a) a fiscal year end financial statement including balance sheet and
profit and loss statement within one hundred twenty (120) days of the close of
each fiscal year, (b) any other information normally provided by Debtor to the
public and (c) such other financial data or information relative to this
Agreement and the Equipment, including, without limitation, copies of vendor
proposals and purchase orders and agreements, listings of serial numbers or
other identification data and confirmations of such information, as Secured
Party may from time to time reasonably request. Debtor will procure and/or
execute, have executed, acknowledge, have acknowledged, deliver to Secured
Party, record and file such other documents and showings as Secured Party deems
necessary or desirable to protect its interest in and rights under this
Agreement and interest in the Equipment. Debtor will pay as directed by Secured
Party or reimburse Secured Party for all filing, search, title report, legal
and other fees incurred by Secured Party in connection with any documents to be
provided by Debtor pursuant to this paragraph or paragraph 22 and any further
similar documents Secured Party may procure.

26.  DEBTOR'S WARRANTIES. Debtor certifies and warrants that the financial data
and other information which Debtor has submitted, or will submit, to Secured
Party in connection with this Agreement is, or will be at time of delivery, as
appropriate, a true and complete statement of the matters therein contained.
Debtor further certifies and warrants that (a) this Agreement has been duly
authorized by Debtor and when executed and delivered by the person signing on
behalf of Debtor below will constitute the legal, valid and binding obligation,
contract and agreement of Debtor enforceable against Debtor in accordance with
its respective terms; (b) this Agreement and each and every showing provided by
or on behalf of Debtor in connection herewith may be relied upon by Secured
Party in accordance with the terms thereof notwithstanding the failure of
Debtor or other applicable party to ensure proper attestation thereto, whether
by absence of a seal or acknowledgment or otherwise; (c) Debtor has the right,
power and authority to grant a security interest in the Equipment to Secured
Party for the uses and purposes herein set forth and (d) each Item of Equipment
will, at the time such Item becomes subject hereto, be in good repair,
condition and working order.

27.  ENTIRE AGREEMENT. This Agreement, the Equipment Financing Commitment and
Exhibit A thereto, the Schedule to Equipment Financing Agreement, the
Disbursement Authorization, the Corporate Resolution, the UCC Form 1, the
proposal from Secured Party to Debtor dated February 24, 2000 and executed by
Debtor on March 2, 2000 and any and all other documents referenced in any of
the foregoing documents, and any and all other documents and agreements
executed by Debtor in connection with the equipment financing constitute
together the entire agreement between Secured Party and Debtor. Neither this
Agreement, nor any of the other documents constituting the entire agreement
between the parties can be modified or amended in any way except by written
agreement signed and dated by both Secured Party and Debtor.

28.  NOTICES. Notices under this Agreement must be in writing and must be
mailed by United States mail, certified mail with return receipt requested,
duly addressed, with postage prepaid, to the party involved at its respective
address set forth at the foot hereof or at such other address as such party may
provide on notice to the other from time to time. Notices will be effective
when deposited. Each party will promptly notify the other of any change in the
first party's address.

29.  GENDER; NUMBER; JOINT AND SEVERAL LIABILITY. Whenever the context of this
Agreement requires, the neuter gender includes the feminine or masculine and
the singular number includes the plural; and whenever the words "Secured Party"
are used herein, they include all assignees of Secured Party, it being
understood that specific reference to "assignee" in paragraph 14 above is for
further emphasis. If there is more than one Debtor named in this Agreement, the
liability of each will be joint and several.

30.  TITLES. The titles to the paragraphs of this Agreement are solely for the
convenience of the parties and are not an aid in the interpretation of the
instrument.

31.  GOVERNING LAW; VENUE. This Agreement will be governed and construed in
accordance with the law of the State of California. Venue for any action
related to this Agreement will be in an appropriate court in Santa Clara
County, California, to which Debtor consents, or in another court selected by
Secured Party which has jurisdiction over the parties. In the event any
provision hereof is declared invalid, such provision will be deemed severable
from the remaining provisions of this Agreement which will remain in full force
and effect.

32.  TIME. Time is of the essence of this Agreement and each and all of its
provisions.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of 3/28/00.

PENTECH FINANCIAL SERVICES, INC (Secured Party)         (Debtor)

By:                                          By: /s/ Martin H. Goldstein
   ----------------------------                  ------------------------
   Benjamin E. Millerbis                     Name:   Martin H. Goldstein
Title: President                             Title:  President
Address: 310 West Hamilton Ave. Suite 202    Address: 270 E. Grand Ave.
         Campbell, CA 95008                           S. San Francisco, CA 94080

                                                                               4
<PAGE>   9
                        PENTECH FINANCIAL SERVICES, INC.

                         EQUIPMENT FINANCING COMMITMENT

 EQUIPMENT FINANCING AGREEMENT No. 200371 with Effective date of 3/28/00

     Subject to the terms set forth in this commitment, the following equipment
financing transaction is agreed to by ("Debtor") and PENTECH FINANCIAL
SERVICES, INC. ("Secured Party") as part of the Equipment Financing Agreement
herein referenced (the "Agreement"). The terms set out herein are hereby made a
part of and incorporated into the Equipment Financing Agreement as fully as
though set forth at length therein.

EQUIPMENT (ALL EQUIPMENT TO BE ACCEPTABLE TO SECURED PARTY):   The equipment may
               include: computers, test equipment, office furniture and other
               related equipment to be approved by Lender. A percentage equal to
               20% of line amount (but not more than 25% of any individual
               schedule) may be used for "soft cost" exclusions listed below.
                    Exclusions:  Custom use equipment, software, installation
                    and delivery costs, purchase tax, tooling equipment, tenant
                    improvements and items generally considered fungible or
                    expendable.

COMMITMENT AMOUNT:         $1,250,000

INSTALLMENT PAYMENTS:    36 payments of 3.190% (the "Monthly Rate Factor") of
advance amount payable monthly in advance, plus a final payment equal to 11% of
the advance amount.

     Rate Adjustment.  The Monthly Rate Factor will be indexed to the thirty
(30) day London Inter Bank Offer Rate ("LIBOR") (the "Index Instrument")
effective on the date of the proposal of 5.78125% (Wall Street Journal dated
January 14, 2000). The Monthly Rate Factor shall be adjusted to provide for any
increase or decrease, with a floor of 5.78125%. At the Commencement Date of
each Schedule, the Monthly Rate Factor shall be fixed for the initial term of
such Schedule.

     First such payments are due at time of scheduling.

COMMITMENT EXPIRATION DATE:

     As more fully explained below, Secured Party has no obligation to make any
advance with respect to Equipment not covered by a Schedule to the Agreement
executed by Secured Party and Debtor on or prior to the Commitment Expiration
Date.

     Debtor will comply with, procure, execute and/or have executed,
acknowledge, have acknowledged, deliver to Secured Party, record and file any
documents set forth in Exhibit A or accompanying this commitment. The form,
substance and sufficiency of all documents and showings employed in documenting
the contemplated financing transaction must be acceptable to Secured Party and
its counsel. Debtor will do likewise as to such further documents and showings
as Secured Party and its counsel may now or hereafter deem necessary or
advisable to protect Secured Party's rights under the Agreement, and to protect
its interest in the Equipment. Debtor will pay as directed by Secured Party or
reimburse Secured Party for all searches, filings, title reports, attorney's
services and other charges incurred by Secured Party in connection with all
such documents and showings and any similar documents and showings Secured
Party may procure.

     Secured Party may, at its option, terminate its obligations to Debtor
hereunder with respect to any and all unscheduled Items of Equipment: (a) at or
subsequent to the Commitment Expiration Date, (b) upon the advent of a material
adverse change in Debtor's financial condition or Debtor's probable ability to
perform its obligations under the Agreement, (c) if the Agreement or any other
agreement under which Debtor has obligations to Secured Party is in default or
an event which with the giving of notice or lapse of time or both would
constitute such a default has occurred and is continuing or (d) with respect to
which more than fifteen percent (15%) would be advanced for shipping costs,
installation charges and design costs by giving Debtor written notice of such
termination.

                  ACCEPTED AND AGREED to as of 3/28/00

SECURED PARTY:                               DEBTOR:

PENTECH FINANCIAL SERVICES, INC.             VIROLOGIC, INC.
a California corporation                     a Delaware corporation

By:                                          By: /s/ Martin H. Goldstein
    -----------------------------                -----------------------------
    Benjamin E. Millerbis
                                             Name: Martin H. Goldstein
Title: President                                   ---------------------------

Address: 310 West Hamilton Avenue,           Title: President
         Suite 202                                  --------------------------
         Campbell, CA 95008
                                             Address: 290 E. Grand Ave.
                                                      S. San Francisco, CA 94080
<PAGE>   10
                  EXHIBIT A TO EQUIPMENT FINANCING COMMITMENT

These provisions hereby become part of the Equipment Financing Commitment
between PENTECH FINANCIAL SERVICES, INC., Secured Party, and VIROLOGIC, INC.,
Debtor., with Effective Date of 3/28/00.

In addition to the terms of the Agreement, Debtor further agrees to the
following additional provisions:

1.   UCC SEARCH/RELEASES

     The Secured Party may search all public records of Debtor to locate and
identify any conflicting liens against the above referenced Equipment. Releases
from any intervening parties holding a security interest in said Equipment
shall be required prior to funding provided herein.

2.   TYPE OF FINANCING

     This is a net equipment financing transaction whereby maintenance,
insurance, property taxes, and all items of a similar nature are for the
account of the Debtor.

3.   EXPENSES

     All expenses associated with the completion of this Agreement including,
but not limited to, UCC filing fees and searches, documentation costs, legal
expenses, and equipment verification costs are for the account of the debtor,
provided that such expenses shall not exceed $5,000 in the aggregate for all
schedules.

4.   MASTER AGREEMENT

     This is a Master Equipment Financing Agreement whereby Schedules may be
funded as equipment is delivered, or upon request of Debtor. Schedules
scheduling Equipment to be subject to the Equipment Financing Agreement will
each be for the term and on the conditions set out therein. No individual
Schedule shall be for less than $50,000.

5.   COMMITMENT EXPIRATION DATE

     The commitment expiration date of December 31, 2000 may be extended, upon
such terms and under such conditions as deemed appropriate in Secured Party's
sole discretion, upon review by Secured Party of the Debtor's then current
financial condition, and any other information Secured Party may reasonably
request to evaluate Debtor's financial condition for purposes of granting such
extension. Debtor agrees to provide Security Party such information as may be
requested by Secured Party for such purpose.

6.   COMMITMENT FEE DEPOSIT

     Debtor shall provide Secured Party a $12,500 commitment fee deposit,
receipt of which is hereby acknowledged. This deposit shall be applied
proportionally to the advance payments due for each Schedule funded under this
Agreement. Any unapplied balance as of the commitment expiration date may be
retained by Secured Party.

7.   MONTHLY FINANCIAL STATEMENTS

     Debtor agrees to provide Secured Party with Debtor's internally prepared
financial statements on an ongoing basis as soon as practicable after the close
of each month of Debtor's fiscal year. Upon request by Secured Party, Debtor
also agrees to provide any other pertinent and reasonable information as
Secured Party may deem necessary to evaluate Debtor's present or future
financial condition.

8.   ANNUAL FINANCIAL STATEMENTS

     Debtor agrees to provide Secured Party the Debtor's annual financial
statements within 120 days of the close of Debtor's fiscal year end.

9.   SCHEDULES

     There shall be Schedule(s) to the Agreement, each of which shall cover
equipment with a minimum aggregate cost of $50,000.00, all of which together
shall cover equipment with a maximum aggregate cost of $300,000.

     A percentage equal to 20% of the line amount (but not more than 25% of any
individual schedule) may be used for "soft cost" exclusions listed below.

     Exclusions: Custom use equipment, installation and delivery costs,
purchase tax, tooling equipment, tenant improvements, software and items
generally considered fungible or expendable.

                                       1

<PAGE>   11
                        PENTECH FINANCIAL SERVICES, INC.

                                                                Lease No. 300601

                             MASTER EQUIPMENT LEASE

This is a Master Equipment Lease between PENTECH FINANCIAL SERVICES, INC., a
California corporation, whose principal office is located at 310 West Hamilton
Avenue, Suite 202, Campbell, California 95008 ("Lessor") and VIROLOGIC, INC., a
Delaware corporation, whose principal office address is 270 East Grand Avenue,
South San Francisco, California 94080 ("Lessee"), with effective date of
3/28/00 ("Effective Date").

1. LEASE. Lessor agrees to lease to Lessee and Lessee agrees to lease from
Lessor, subject to the terms and conditions of this Master Equipment Lease
("Lease"), the personal property ("Equipment") described in each Acceptance
Supplement ("Supplement") executed and delivered by Lessor and Lessee pursuant
to the terms of this Lease. Each Supplement shall be in the form prescribed by
Lessor and, upon execution and delivery, shall constitute a part of this Lease
to the same extent as if the provisions thereof were set forth in full in this
Lease document; the terms "Agreement", "hereof", "herein", and "thereunder",
when used in this Lease shall mean this Lease, each Supplement and each Schedule
as hereinafter defined. This Agreement constitutes an agreement to lease.
Ownership of the Equipment remains with Lessor and nothing herein contained
shall be construed as convoying to Lessee any right, title or interest in the
equipment except as a Lessee only.

2. SELECTION OF EQUIPMENT. Lessee acknowledges that it has selected the type,
quantity and supplier of the Equipment referred to herein and that it has
requested Lessor to purchase the same for leasing to Lessee. Lessee agrees that
the Equipment and each part or unit thereof is of a design, size, quality and
capacity required by Lessee and is suitable for its purposes. Lessee
acknowledges that Lessor has informed or advised Lessee, in writing either
previously or by this Lease, of the following: (i) the identity of the
supplier; (ii) that the Lessee may have rights under the Supply Contract; and
(iii) that the Lessee may contact the supplier for a description of any such
rights Lessee may have under the Supply Contract. Lessor hereby assigns to
Lessee all rights which Lessor has or may acquire against any manufacturer,
supplier, or contractor with respect to any warranty or representation relating
to the Equipment leased hereunder.

3. EQUIPMENT TO REMAIN PERSONAL PROPERTY; LOCATION, IDENTIFICATION; INSPECTION.
Lessee represents that the Equipment shall be and at all times remain
separately identifiable personal property. Lessee shall, at its own expense,
take such action as may be necessary to prevent any third party from acquiring
any right to or interest in the Equipment by virtue of the Equipment being
deemed to be real property or a part of other personal property, and shall
indemnify Lessor against any loss which it may sustain by reason of Lessee's
failure to do so. The Equipment may not be removed from the location specified
in the Supplement pertaining thereto without Lessor's prior written consent. If
requested by Lessor, Lessee shall attach to and maintain on each item of
Equipment a conspicuous plate or marking disclosing Lessor's ownership thereof.
Lessor or its representatives may, after reasonable notice to Lessee, inspect
the Equipment during normal business hours. Lessee shall promptly advise Lessor
of any circumstances which may materially affect any item of Equipment or in
any manner affect Lessor's title thereto.

4. EXECUTION OF FURTHER DOCUMENTATION. Lessee will, at its own expense,
promptly execute and deliver to Lessor such further documentation and
assurances and take such further action as Lessor may from time to time
reasonably require in order to more effectively carry out the intent and
purpose of this Agreement so as to establish and protect the rights, interests
and remedies intended to be created in favor of Lessor hereunder, including,
without limitation, the execution and filing of financing statements and
continuation statements with respect to the Equipment and Agreement. Lessee
authorizes Lessor to effect any such filing (including the filing of any
financing statements without the signature of Lessee). Any and all reasonable
expenses incurred by Lessor in connection with any filings under this paragraph
shall be payable by Lessee on demand.

5. DISCLAIMER OF IMPLIED WARRANTIES. THE EQUIPMENT WILL BE LEASED "AS IS" AND
"WHERE IS". (A) OTHER THAN THE WARRANTY OF QUIET ENJOYMENT, THE LESSOR HAS NOT
MADE, MAY NOT BE CONSIDERED TO HAVE MADE, AND SPECIFICALLY DISCLAIMS,:

(1) ANY EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY WITH RESPECT TO THE
EQUIPMENT, REGARDING TITLE, CONDITION, DESIGN, OPERATION, MERCHANTABILITY,
FREEDOM FROM CLAIMS OF INFRINGEMENT OR THE LIKE, FITNESS FOR USE FOR A
PARTICULAR PURPOSE, QUALITY OF MATERIALS OR WORKMANSHIP, ABSENCE OF
DISCOVERABLE OR NONDISCOVERABLE DEFECTS, OR THAT THE EQUIPMENT IS IN COMPLIANCE
WITH ANY APPLICABLE GOVERNMENT REQUIREMENTS OR REGULATIONS; AND

(2) ANY OTHER EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY WITH RESPECT TO THE
EQUIPMENT (INCLUDING ANY IMPLIED WARRANTY ARISING FROM A COURSE OF PERFORMANCE,
COURSE OF DEALING, OR USAGE OF TRADE); AND

(3) ANY EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY REGARDING THE
CHARACTERIZATION OF THIS LEASE FOR TAX, ACCOUNTING OR OTHER PURPOSES.

THE LESSEE WAIVES, RELEASES, RENOUNCES, AND DISCLAIMS EXPECTATION OF OR
RELIANCE ON ANY SUCH WARRANTY OR WARRANTIES.

(B) THE LESSOR WILL NOT HAVE ANY RESPONSIBILITY OR LIABILITY TO THE LESSEE OR
ANY OTHER PERSON, WHETHER IN CONTRACT OR TORT, ARISING OUT OF ANY ORDINARY
NEGLIGENCE OR STRICT LIABILITY OF THE LESSOR OR OTHERWISE, FOR:

(1) ANY LIABILITY, LOSS, OR DAMAGE CAUSED OR ALLEGED TO BE CAUSED DIRECTLY OR
INDIRECTLY BY THE EQUIPMENT; BY ANY INADEQUACY, DEFICIENCY OR DEFECT OF THE
EQUIPMENT; OR BY ANY OTHER CIRCUMSTANCES IN CONNECTION WITH THIS LEASE;

(2) THE USE, OPERATION, OR PERFORMANCE OF THE EQUIPMENT OR ANY RISKS RELATING
TO IT;

(3) ANY CONSEQUENTIAL DAMAGES, INCLUDING THOSE FOR INTERRUPTION OF SERVICE,
LOSS OF BUSINESS, OR ANTICIPATED PROFITS; OR

(4) THE DELIVERY, OPERATION, MAINTENANCE, REPAIR, IMPROVEMENT, OR REPLACEMENT
OF THE EQUIPMENT.

6. TERM; ACCEPTANCE; RENT; RETURN. The term of lease of each item of Equipment
shall commence on the Commencement Date specified in the Supplement pertaining
to such Equipment and, unless earlier terminated pursuant to the provisions
hereof, shall continue for the term specified in such Supplement. Lessee's
execution and deliver of each Supplement shall constitute Lessee's irrevocable
acceptance of the equipment covered thereby for all purposes of this Agreement.
Lessee shall pay to Lessor, at the addresses specified above or at such other
address as may be provided by Lessor from time to time, rent as specified in
each Supplement. Each date on which an installment of rent is payable is
designated herein as "Rent Payment Date". As to each Supplement, the first Rent
Payment Date shall be the Rent Payment Date set forth therein, with the
succeeding Rent payment Date on the corresponding day of each month thereafter.
In addition, if applicable, Lessee shall pay interim rent for the period
between the actual commencement of the rent under each Supplement and the date
designated as the Rent Payment Date, based on a 30 day month and the number of
days between the actual commencement date and the first Rent Payment Date.
Should any payment not be made by Lessee within 5 business days after the
applicable Rent Payment Date, Lessor shall be entitled to a late payment charge
in addition to the actual rent due of 5% of the late rent and any other amount
due but unpaid under this Agreement. Upon the expiration or earlier termination
of the term of lease of each item of Equipment leased thereunder, Lessee shall
at its own expense return such item to Lessor at such location as Lessor may
designate, in the condition required to be maintained by Paragraph 9 hereof.

7. LESSEE'S OBLIGATIONS IRREVOCABLE. The Lessee's obligation to pay all rent
will be absolute and unconditional and, subject to Lessee's right of quiet
enjoyment to the Equipment, will not be affected or reduced by any
circumstance, including:

(1) Any setoff, counterclaim, recoupment, defense, or other right that the
Lessee may have for any reason against the Lessor, the manufacturer, any seller
of the Equipment, or any person providing services with respect to the
Equipment;

(2) Any defect in the title, condition, design, operation, or fitness for use
of the Equipment; any damage to, or loss or destruction of, the Equipment; or
any interruption or cessation in its use or possession by the Lessee for any
reason, whether arising out of or related to an act or omission of the Lessor
or any other person;

(3) Any items with respect to the Equipment;

(4) The invalidity or unenforceability of this Agreement or any absence of
right, power or authority of the Lessor or Lessee to enter into this lease;

                                       1
<PAGE>   12
(5) Any insolvency, bankruptcy, reorganization, or similar proceedings by or
against the Lessor or Lessee; or

(6) Any other circumstance or occurrence of any nature, whether or not similar
to any of the foregoing.

It is the express intention of the Lessor and Lessee that all rent payable
under this Agreement will be payable in all events, unless the obligation to
pay is terminated under the express provisions of this Agreement.

The Lessee hereby waives, to the extent permitted by law, all rights that it
may now have or later acquire, by order or otherwise, to terminate this
Agreement or any obligation imposed on the Lessee in relation to this Agreement.

Nothing in this Agreement may be construed as a waiver of the Lessee's right to
seek a separate recovery of any payment of rent that is not due and payable
under this Agreement. The Lessee retains any right it may have to seek damages,
specific performance, or any other remedy at law or in equity, separately or in
combination, against the Lessor or any other person, on account of the Lessor's
or other person's failure to perform its obligations under this Agreement.

8.  RESTRICTIONS ON TRANSFER.  THE LESSEE MAY NOT SUBLET OR TRANSFER POSSESSION
OF THE EQUIPMENT WITHOUT THE PRIOR WRITTEN CONSENT OF THE LESSOR WHICH WILL NOT
BE UNREASONABLY WITHHELD. THE LESSEE MAY NOT ASSIGN, PLEDGE, OR OTHERWISE
ENCUMBER THIS LEASE.

With respect to any sublease or transfer of possession of the Equipment, the
rights of the sublessee or transferee will be subject and subordinate to all
the terms of this Agreement, including the Lessor's right of repossession on
the occurrence of an event of default. The Lessee will remain primarily liable
for the performance of all the terms of this Agreement to the same extent as if
the sublease or transfer of possession had not occurred.

The Lessor will have the right, at its sole expense, to assign, sell, or
encumber any part of its interest in the Equipment or in this Agreement and any
proceeds of the disposition of that interest, subject to the Lessee's rights
under this lease. To effect or facilitate such assignment, sale or encumbrance,
the Lessee agrees to provide all agreements, consents, conveyances or documents
that may be reasonably requested by the Lessor, including an unrestricted
release of the Lessor from its obligations under this Agreement. That release
will not release the Lessor from any liability that arose before the assignment
or sale.

Any person who succeeds to the rights and interests of the Lessor under this
clause will agree to be bound by the terms of this Agreement without alteration.

The Lessee acknowledges that an assignment, sale, or encumbrance of the Lessor's
interest would not materially change the Lessee's duties under the Agreement or
materially increase its burdens or risks. Even if such a transfer could be
deemed to have that effect, the Lessee agrees that the assignment, sale or
encumbrance will nevertheless be permitted.

Without prejudice to any rights that the Lessee may have against the Lessor,
the Lessee agrees that it will not assert against an assignee any claim or
defense that it may have against the Lessor.

The agreements, covenants, obligations and liabilities contained in this
clause, including but not limited to, all obligations to pay rent and to
indemnify each indemnitee, are made for the benefit of the indemnities and
their respective successors and assigns.

9.  MAINTENANCE COVENANT.  The Lessee will:

(1) Furnish all labor and parts required for maintaining, repairing, and
replacing component parts of the Equipment to keep it in good operating
condition and appearance;

(2) Use, operate, maintain, and store the Equipment in a careful and proper
manner;

(3) Protect the Equipment from deterioration;

(4) Comply with the manufacturer's operating procedures and warranty
restrictions and all laws, ordinances, and regulations applicable to the
Equipment or its use and in compliance with the insurance policies required to
be maintained thereunder;

(5) Put the Equipment only to the use contemplated by the manufacturer; and

(6) Maintain accurate and complete records of all repairs and maintenance of
the Equipment and allow the Lessor to inspect those records at any time.

(7) Comply with the maintenance requirements of any maintenance schedule
recommended by the manufacturer or attached as a part of this agreement.

The Lessee will not make any alterations, additions, or improvements to the
Equipment without the Lessor's prior written consent. All repairs, replacement
parts, additions, alterations, and improvements made to the Equipment by the
Lessee will be considered to be the Lessor's property and subject to the terms
of this Agreement.

10.  RISK OF LOSS COVENANT.  The Lessee will bear the entire risk of
destruction, loss, theft, regulation of title, or use, confiscation, taking, or
damage (collectively, casualty loss) of the Equipment from any cause during the
period commencing when the Equipment is placed in transit to the Lessee and
ending when the Equipment is returned to the Lessor or its designee following
termination as provided herein. If during that period the Equipment suffers any
casualty loss, the Lessee will notify the Lessor in writing within five days
following the casualty loss. On demand by the Lessor, the Lessee will:

(1) If the damage constituting the casualty loss is repairable, repair the
Equipment to the condition in which the Equipment is required to be maintained
under this Agreement;

(2) If the damaged Equipment is not repairable, replace the Equipment at the
Lessee's sole expense with like Equipment approved by the Lessor and take all
actions and make all payments that may be required to vest in the Lessor title
to the replacement Equipment, free and clear of all liens, encumbrances, or
security interests; or

(3) Pay to the Lessor the casualty value (as defined below) and all other
amounts then due under this Agreement.

"Casualty value" is, at any given date, the stipulated loss value as shown on
the applicable Schedule to each Supplement, and is computed to be the sum of:

(1) The discounted value at that time, of the aggregate unpaid monthly rent
payments to be paid through the then remaining term of this Agreement,
discounting that amount at an annual discount rate of 8 percent; and

(2) The Lessor's reasonable estimate, at that time, of the fair market value of
the Equipment at the end of the term of this Agreement, discounted at an annual
discount rate of 8 percent.

11.  INSURANCE.  Lessee shall maintain at all times on the equipment, at
Lessee's expense, property damage, direct damage, and liability insurance in
such amounts, against such risks, and in such form and with such insurers as
are customary for businesses substantially similar to Lessee's. The required
insurance shall be as specified in the applicable Supplement; provided,
however, that the amount of direct damage insurance shall not on any date be
less than the greater of the full replacement value or the Stipulated Loss
Value of the Equipment as of such date. Each insurance policy will name Lessor
as additional insured and as loss payee, and shall contain a clause requiring
the insurer to give to Lessor at least 30 days prior written notice of any
alteration in or cancellation of the terms of such policy. Lessee shall furnish
to Lessor a certificate or other evidence satisfactory to Lessor that such
insurance coverage is in effect, provided, however, that Lessor shall be under
no duty to ascertain the existence or adequacy of such insurance.

12.  TAXES; INDEMNITY.  Lessee agrees to pay, and to indemnify and hold Lessor
harmless from, all license fees, assessments, and sales, use, property, excise,
and other taxes and charges (other than federal income taxes and taxes imposed
by any other jurisdiction which are based on, or measured by, the net income of
Lessor for reasons other than the ownership or leasing of the Equipment in such
jurisdiction) imposed upon or with respect to (a) the Equipment or any part
thereof arising out of or in connection with the shipment of Equipment or the
possession, ownership, use or operation thereof, or (b) this Agreement or the
consummation of the transactions herein contemplated. The agreements and
indemnities contained in this paragraph shall survive the expiration or earlier
termination of this Agreement.

13.  DEPRECIATION INDEMNITY.

(1) Lessor, as the owner of the Equipment, shall be entitled to such
deductions, credits and other benefits as are provided by the Internal Revenue
Code of 1985, as amended (IRC), to an owner of property.

(2) Lessee agrees that neither it nor any corporation controlled by it, in
control of it, or under common control with it, directly or indirectly, will at
any time take any action or file any returns or other documents inconsistent
with the foregoing and that each of such corporations will file such returns,
take such action, and execute such documents as may be reasonable and necessary
to facilitate accomplishment of the intent thereof. Lessee agrees to copy and
make available for inspection and copying by Lessor such records as will enable
Lessor to determine whether it is entitled to the benefit of any amortization
or depreciation deduction, or other deduction or credit which may be available
from time to time with respect to the Equipment.

(3) If Lessor, under any circumstances or for any reason whatsoever, except for
acts of Lessor or future changes in the IRC, shall lose or shall not have the
right to claim or there shall be disallowed or recaptured, all or any portion
of the federal tax depreciation deductions with respect to any item of
Equipment based on depreciation of the Lessor's full cost of such item of
Equipment and computed on the basis of a method of depreciation provided by the
IRC as Lessor in its complete discretion may select, then Lessee agrees to pay
Lessor upon demand an amount which, after deduction of all taxes required to be
paid by Lessor in respect of the receipt thereof under the laws of any federal,
state, or local government or taxing authority of the United States or of any
taxing authority or government subsidiary of any foreign country, shall be
equal to the sum of (i) an amount equal to the additional income taxes paid or
payable by Lessor in consequence of the failure to obtain the benefit of a
depreciation deduction, and (ii) any interest and/or penalty which may be
assessed in connection with any of the foregoing.

The provisions of this paragraph shall survive the expiration or earlier
termination of this Agreement.

14.  INDEMNIFICATION COVENANT.  The Lessee agrees to indemnify, reimburse, and
hold harmless Lessor and its successors and assigns ("Indemnities"), from and
against all claims, damages, losses, liabilities, demands, suits, judgments,
causes of action, civil and criminal legal proceedings, penalties, fines and
other sanctions, and any attorney fees and other reasonable costs and expenses,
arising or imposed under circumstances not involving Lessor's gross negligence
or willful misconduct (collectively, "claims"), relating to or arising in any
manner out of:

(1) This Agreement or the breach of any representation, warranty, or covenant
made by the Lessee under this Agreement;

(2) Manufacture, purchase, lease, delivery, nondelivery, acceptance, rejection,
ownership, possession, use, operation, return, or disposition of the Equipment;

(3) The Equipment's condition or any discoverable or nondiscoverable defect in
it arising from its design, testing, or construction; any article used in the
Equipment; or any maintenance, service, or repair, whether or not the Equipment
is in the Lessee's possession and regardless of where the Equipment is located;
or (4) Any transaction, approval, or document, contemplated by this Agreement.
The Leasee waives and releases indemnities from any existing or future claims in
any way connected with injury to or death of the Lessee's personal, loss or
damage of the Lessee's property, or loss of use of any property, which may:

(a) Result from or arise in any manner out of the ownership, leasing, condition,
use or operation of the Equipment; or

(b) Be caused by any defect in the Equipment: its design, testing or
construction, any article used in the Equipment; or any maintenance, service, or
repair, whether or not the Equipment is in the Lessee's possession and
regardless of where the Equipment is located. The Indemnities described in this
clause will continue in full force and effect notwithstanding the expiration or
other termination of this Agreement and are expressly made for the benefit and
will be enforceable by such indemnitee.

15. COVENANT TO KEEP FREE OF LIENS. The Leases will not directly or indirectly
create, incur, assume, or suffer to exist any lien on the Equipment, its title,
or any interest therein, except for:

(1) The respective rights of the Lessor and Lessee under this Agreement;

(2) Liens granted by the Lessor with respect to the Equipment;

(3) Liens for taxes either not yet due or being contested in good faith by the
Leasee as long as adequate reserves are maintained with respect to those liens
and the Equipment is not, in the Lessor's reasonable opinion, in danger of being
sold, confiscated, forfeited, or seized as a result of the liens; and

(4) Inchoate materialmen's, mechanics', workmen's, repairmen's, employees', or
other like liens arising in the ordinary course of business, which either are
not delinquent or are being contested in good faith by the Lessee, as long as
the Equipment is not, in the Lessor's reasonable opinion, in danger of being
sold, confiscated, forfeited, or seized as a result of the liens.

The Lessee will promptly, at its sole expense, take any action that may be
necessary to discharge any lien except for the liens referred to in paragraphs
(1) and (2) arising at any time with respect to the Equipment.

16.  WAIVER OF CONSEQUENTIAL DAMAGES.  The Lessee will not be entitled to
recover, and hereby disclaims and waives any right that it may otherwise have to
recover, consequential damages as a result of any breach or alleged breach by
the Lessor of

                                       2
<PAGE>   13
any of the agreements, representations, or warranties of the Lessor contained
in this Agreement.

17. LESSOR'S RIGHT TO PERFORM. If Lessee fails to make any payment required to
be made hereunder or fails to comply with any other provisions of this
Agreement, Lessor may make such payment or comply with such provisions, and the
amount of such payment and the reasonable expenses of Lessor incurred in
connection with such payment or compliance, shall be immediately payable by
Lessee to Lessor.

18. DEFAULT. Any one of the following occurrences shall, in the Lessor's sole
discretion, constitute a material default by Lessee of this Agreement:

(1) Failure by Lessee to make any payment of rent or other amount owing
hereunder when due;

(2) Failure of Lessee to perform or observe any other covenant, agreement, or
condition hereunder;

(3) Any representation or warranty made by Lessee herein or in any document or
certificate furnished to Lessor in connection herewith shall prove to be
incorrect at any time;

(4) Lessee shall become insolvent or make an assignment for the benefit of
creditors or consent to the appointment of a trustee or receiver, or a trustee
or receiver shall be appointed for Lessee or for a substantial part of its
property or for the Equipment, or reorganization, arrangement, insolvency,
dissolution, or liquidation proceedings shall be instituted by or against
Lessee.

In such event, Lessor may declare this Agreement to be in default, and may
proceed in accordance with the provisions of Paragraph 19 hereof.

19. REMEDIES.

(1) Remedies. On the occurrence of any event of default and at any time
afterwards as long as it continues, the Lessor may, at its option and without
notice to the Lessee, declare this Agreement to be in default and exercise one
or more of the following remedies:

(a) Declare the then Stipulated Loss Value immediately due and payable with
respect to any or all Items of Equipment without notice or demand to Lessee;

(b) Sue for and recover all rent and other payments, then accrued or thereafter
accruing, with respect to any or all Items of Equipment;

(c) Take possession of and render unusable any or all Items of Equipment,
without demand or notice, wherever same may be located, without any court order
or other process of law and without liability for any damages occasioned by
such taking of possession (any such taking of possession will not constitute a
termination of this lease as to any or all Items of Equipment unless Lessor
expressly so notifies Lessee in writing);

(d) Require Lessee to assemble any or all Items of Equipment at the original
equipment location, such location to which the equipment may have been moved
with the prior written consent of Lessor, or such other location in reasonable
proximity to either of the foregoing as Lessor designates;

(e) Sell or otherwise dispose of any or all Items of Equipment whether or not
in Lessor's possession, in a commercially reasonable manner at public or
private sale and with or without notice to Lessee and apply the net proceeds of
such sale, after deducting all costs of such sale, including, but not limited
to, costs of transportation, repossession, storage, refurbishing, advertising
and broker's fees, to the obligations of Lessee thereunder with Lessee
remaining liable for any deficiency and with any excess being retained by
Lessor;

(f) Retain any repossessed items of Equipment and credit the reasonable value
thereof, after deducting all such sales related costs incurred to the date of
crediting, to the obligations of Lessee hereunder with Lessee remaining liable
for any deficiency and with Lessor having no obligation to reimburse Lessee on
account of any excess of such reasonable value over such obligations;

(g) Terminate this lease as to any or all items of Equipment;

(h) Utilize any other remedy available to Lessor at law or in equity.

In each case, plus the amount, if any, as reasonably calculated by the Lessor,
required for the Lessor to receive the same after tax economic return from this
lease that the Lessor would have received if the Lessee had performed all of
its obligations under this Agreement through the end of the lease term.

In addition to the foregoing, the Lessee will be liable for interest on unpaid
amounts at an annual interest rate of 18 percent from the date the same became
due until payment in full, and for all reasonable legal fees and other
reasonable costs and expenses incurred by the Lessor in connection with the
occurrence of any event of default or the exercise of its remedies.

A termination hereunder will occur only upon written notice by Lessor to Lessee
and only with respect to such items of Equipment as to which Lessor
specifically elects to terminate in such notice. Except as to such items with
respect to which there is a termination, this lease will remain in full force
and effect and Lessee will be and remain liable for the full performance of all
its obligations hereunder.

No right or remedy conferred herein is exclusive of any right or remedy
conferred herein or by law; but all such rights and remedies are cumulative of
every other right or remedy conferred hereunder or at law or in equity, by
statute or otherwise, and may be exercised concurrently or separately from time
to time.

(2) In effecting any repossession, the Lessor and its representatives and
agents, to the extent permitted by law, will:

(a) Have the right to enter on any premises where the Lessor reasonably
believes the Equipment is located;

(b) Not be liable, in conversion or otherwise, for the taking of any personal
property of the Lessee that is in or attached to the repossessed Equipment as
long as the Lessor promptly returns that property to the Lessee;

(c) Not be liable in any manner for any damage to any of the Lessee's property
in repossessing and holding the Equipment, except for damage caused by the
Lessor's gross negligence or willful misconduct; and

(d) Have the right to maintain possession of and dispose of the Equipment on
any premises owned by the Lessee or under the Lessee's control.

If reasonably required by the Lessor, the Lessee, at its sole expense, will
assemble and make the Equipment available at a place designated by the Lessor.
If the Equipment is returned to or repossessed by the Lessor, any rights in any
express or implied warranty previously assigned to the Lessee or otherwise held
by it will without further act, notice, or writing be assigned or reassigned to
the Lessor, if assignable. The Lessee will be liable to the Lessor for all
reasonable expenses, costs, and fees incurred in (1) repossessing, storing,
preserving, shipping, maintaining, repairing, and refurbishing the Equipment to
the condition required by this Agreement; and (2) preparing the Equipment for
sale or lease, advertising the sale or lease, and selling or re-letting the
Equipment.

No remedy referred to in this paragraph is intended to be exclusive, but, to
the extent permissible under applicable law, each will be cumulative and
operate in addition to any other remedy referred to above or otherwise
available to the Lessor at law or in equity. The exercise or beginning of
exercise by the Lessor of any one or more of its remedies will not preclude the
simultaneous or later exercise by the Lessor of any other remedies.

No express or implied waiver by the Lessor of any default or event of default
will be construed as a waiver of any future or subsequent default or event of
default.

20. CONDITIONS PRECEDENT. The obligation of Lessor contained in paragraph 1 of
this Agreement shall be subject to the following conditions precedent:

(1) There shall have occurred no material adverse change in the business or the
financial condition of Lessee from the date hereof until the Commencement Date
of any Supplement;

(2) Lessee shall have furnished Lessor with a certificate or other evidence
satisfactory to Lessor that insurance coverage as required by this Agreement is
in effect as to the Item of Equipment desired to be leased;

(3) Unless specifically waived by Lessor, Lessee shall have furnished Lessor
waivers, in form and substance acceptable to Lessor, of all rights in or to the
Equipment of any landlord or mortgagee of any real property upon which the
Equipment is or is to be situated; and

(4) All other instruments and legal and corporate proceedings in connection
with the transactions contemplated by this Agreement shall be satisfactory in
form and substance to Lessor, and counsel to Lessor shall have received copies
of all documents which it may have requested in connection therewith.

If any of the above conditions is not satisfied at the time Lessee submits any
Supplement, Lessor, in its sole discretion, shall have no obligation under this
Agreement to lease the Equipment covered thereby to Lessee.

21. FINANCIALS. Lessee agrees that for so long as any item of equipment shall
be leased under the Agreement, Lessee will deliver or cause to be delivered to
Lessor (a) as soon as practicable after the end of each month, monthly
financial statements for the month just closed, including balance sheet, and
related statements of income and expense for such month, all in reasonable
detail prepared in accordance with generally accepted accounting principles
consistently applied throughout the period involved and certified by Lessee's
chief financial officer; and (b) as soon as practicable, and in any event
within 120 days after the close of each fiscal year of Lessee, the audited
balance sheet of Lessee as of the end of such fiscal year together with the
related statements of income and expense for such fiscal year, all in
reasonable detail, prepared in accordance with generally accepted accounting
principles consistently applied throughout the period involved and certified by
an independent certified public accountant acceptable to Lessor.

22. REPRESENTATIONS, WARRANTIES AND COVENANTS. As a material inducement to
Lessor entering into this Agreement with Lessee, Lessee represents, warrants,
and covenants as follows:

(1) If Lessee is a corporation, or a limited liability company, Lessee is duly
organized and validly existing and is in good standing under the laws of the
state of its incorporation, and is duly qualified and licensed to do business
as a foreign corporation and is in good standing in those jurisdictions where
such qualifications are necessary to authorize Lessee to carry on its present
business and operations, and to own its properties or to perform its
obligations thereunder.

(2) If Lessee is a partnership, Lessee is duly organized and validly existing
under the partnership laws of its state of domicile and is duly authorized in
any foreign jurisdiction where such qualification is necessary to authorize
Lessee to carry on its present business and operations and to own its
properties and to perform its obligations thereunder;

(3) Lessee has full power, authority, and legal right to execute, deliver, and
carry out as Lessee the terms and provisions of this Agreement, and any other
necessary documents in connection with this transaction;

(4) If Lessee is a corporation, Lessee's execution, delivery, and performance
of this Agreement and the other documents and agreements referred to herein,
and the performance of its obligations under this Agreement have all been
authorized by all necessary corporate action, do not require the approval or
consent of stockholders, or of any trustee or holders of any indebtedness or
obligation of Lessee and will not violate any law, governmental rule,
regulation or order binding upon Lessee or any provision of any indenture,
mortgage, contract, or other agreement to which Lessee is a party or by which
it is bound or to which it is subject, and will not violate any provision of
the Certificate or Articles of Incorporation, Bylaws, or any preferred stock
agreement of Lessee;

(5) If Lessee is a partnership, Lessee's execution, delivery and performance of
this Agreement and the other documents and agreements referred to herein, and
the performance of its obligations under this Agreement have all been
authorized by all necessary partnership actions;

(6) There are no pending or threatened investigations, actions, or proceedings
before any court or administrative agency or other tribunal body, which seek to
question or set aside any of the transactions contemplated by this Agreement,
or which, if adversely determined, would materially affect the condition,
business, or operation of Lessee;

(7) Lessee is not in default in any material manner in the payment or
performance of any of its obligations or in the performance of any contract,
agreement, or other instrument to which it is a party or by which it or any of
its assets may be bound;

(8) The balance sheet of Lessee as of the end of its most recent fiscal year
and the related profit and loss statement of the Lessor for the fiscal year
ended on said date, including the related schedules and notes, together with
the report of an independent certified public accountant, heretofore delivered
to Lessor, are all true and correct and present fairly (i) the financial
position of Lessee as of the date of said balance sheet and (ii) the results of
the operations of Lessee for said fiscal year;

(9) All proceedings required to be taken to authorize the lease of the
Equipment from Lessor and to protect Lessor's interest in such Equipment, free
and clear of all liens and encumbrances whatsoever, have been taken;

(10) Lessee has not significant liabilities (contingent or otherwise) which are
not disclosed by or reserved against the financial statements referred to in
(8) above;

(11) All the financial statements referred to in (8) above have been prepared
in accordance with generally accepted accounting principles and practices
applied on a basis consistently maintained throughout the period involved;

(12) There has been no change which would have a material adverse effect on the
business or financial condition of Lessee from that set forth in the balance
sheet referred to in (8) above;

(13) No authorization, consent, approval, license, exemption of or filing or
registration with any court, governmental unit or department, commission,
board, bureau, agency, instrumentality or the like is required or necessary for
the valid execution and delivery of the Agreement, any bill of sale, and the
other documents and agreements referred to herein;

(14) This Master Lease, the Supplements, and any accompanying documents, having
been duly authorized, executed and delivered to Lessor, constitute legal, valid
and binding obligations of Lessee, enforceable against Lessee in accordance
with the terms hereof except

                                       3

<PAGE>   14
as such terms may be limited by bankruptcy, insolvency, or similar laws
affecting the enforcement of creditor's rights generally;

(15) Each Item of Equipment will constitute unused "new Section 28 property" in
the hands of Lessor within the meaning of the Internal Revenue Code of 1966, as
amended, on the Commencement Date specified in the Supplement pertaining to
said Item of Equipment;

(16) The Equipment is personal property and neither real property nor a fixture;

(17) The Equipment will be used for commercial operations only, not for
personal, family, or household purposes.

(18) As of the Commencement Date of each Item of Equipment, a reasonable
estimate of the estimated fair market value of such Item of Equipment at the
end of the lease term thereof will be at least 20% of the Lessor's cost
therefor (without including in such value any increase or decrease for
inflation or deflation, and after subtracting from such value any cost for
removal and delivery of possession of Equipment to Lessor at the end of the
lease term thereof); and

(19) As of the Commencement Date of each Item of Equipment, a reasonable
estimate of the estimated useful life of such Item of Equipment at the end of
the original lease term will be at least two years beyond the lease term
thereof.

23. PURCHASE OPTION. Lessor and Lessee hereby agree that so long as no default
shall have occurred and be continuing, Lessee shall have the option (and Lessor
shall have the right to obligate Lessee) to purchase the Equipment at the
expiration of the lease term for the purchase option price set forth in the
applicable Supplement. In order to exercise the option with respect to all of
the Equipment, Lessee must give Lessor written notice at least 90 days prior to
the expiration of the lease term with respect thereto, and remit the purchase
price in cash to Lessor or its assigns on or before said expiration date. After
receipt of the purchase price in accordance with this paragraph, Lessor will
transfer to Lessee all of its right, title and interest in the Equipment
purchased, as-is, where-is, without recourse, representation or warranty of any
kind, express or implied. Fair Market Sales Value for the purpose of this
paragraph only shall be determined on the basis of and be equal in amount to
the value that would be obtained in a transaction between an informed and
willing buyer and an informed and willing seller, and the cost of moving the
Equipment from the location of current use shall not be a deduction from such
value.

24. CHOICE OF LAW. The rights and liabilities of the parties under this
Agreement, and each Supplement, shall be interpreted, enforced and governed in
all respects by the laws of the State of California. Lessee hereby consents and
subjects itself to the jurisdiction of every local, state, and federal court
within the State of California, and agrees that except as otherwise required by
law, Lessee shall never file or maintain any action or proceeding in connection
with this Agreement, or any Supplement in any court outside the State of
California. Lessee hereby agrees that service of process in connection with
any such action upon Lessee may be in the manner provided by the laws of the
State of California.

25. ATTORNEY FEES AND COSTS. Lessee will pay or reimburse Lessor for all costs
and expenses, including repossession, equipment disposition and court costs and
attorney's fees not offset against amounts recovered or credited as
contemplated in paragraph 19, incurred by Lessor in exercising any of its
rights or remedies thereunder or enforcing any of the terms, conditions or
provisions hereof. This obligation includes the payment or reimbursement of all
such amounts whether an action is ultimately filed and whether an action filed
is ultimately dismissed.

26. HEADINGS FOR CONVENIENCE ONLY. The headings for the paragraphs and
provisions in this Master Lease, as well as the other documents constituting
the Agreement, are intended solely for convenience of reference and are not
intended nor shall they be used to construe, explain, modify or place any
meaning upon any provisions hereof.

27. MODIFICATION. Neither this Master Lease or any other document or Supplement
constituting the Agreement can be modified or amended except by written
agreement signed and dated by both Lessor and Lessee.

28. COUNTERPARTS. This Master Lease and any other document or Supplement
constituting the Agreement may be executed in any number of counterparts. Any
document executed in counterparts shall remain one document. Each counterpart
is an original instrument.

29. PROVISIONS SEVERABLE. Should any provision of the Agreement be determined
to be invalid or unenforceable, such invalidity or unenforceability shall not
affect the remaining provisions hereof.

30. ENTIRE AGREEMENT. This Master Lease, the Supplements, the Proposal
accepted by Lessee on March 28, 2000 and all other documents constituting the
Agreement constitute the entire agreement between the parties and no other
representation or statements shall be deemed binding, nor shall there be any
reliance by either Lessor or Lessee upon any representations, agreements,
statements, promises, understandings, or inducements made which are not
embodied in the written Agreement.

Executed on March 28, 2000, at SSF, California.

               By execution hereof, the undersigned hereby certifies that he has
               read this Agreement, and that he is duly authorized to execute
               this Master Equipment Lease on behalf of Lessee.

               LESSEE:
               VIROLOGIC, INC.
               a Delaware corporation

               By: /s/ Martin H. Goldstein
                   ----------------------------
               Name    Martin H. Goldstein
                   ----------------------------
               Title   President
                   ----------------------------

               LESSOR:
               PENTECH FINANCIAL SERVICES, INC.,
               a California corporation

               By:
                   ----------------------------
                       Benjamin E. Millerbis
               Title: President

                                       4

<PAGE>   15
                        PENTECH FINANCIAL SERVICES, INC.

          SCHEDULE NO. 03 TO EQUIPMENT FINANCING AGREEMENT NO. 200371
            BETWEEN PENTECH FINANCIAL SERVICES, INC., SECURED PARTY,
                          AND VIROLOGIC, INC., DEBTOR,
                     WITH EFFECTIVE DATE OF MARCH 28, 2000.

SECURED PARTY AND DEBTOR HEREBY ACKNOWLEDGE THAT THE ITEMS OF EQUIPMENT
DESCRIBED IN THIS SCHEDULE ARE COVERED BY THE EQUIPMENT FINANCING AGREEMENT
("THE AGREEMENT") AND THAT THE FOLLOWING IS A DESCRIPTION OF SAID ITEMS, THE
ADVANCE AMOUNT ON ACCOUNT THEREOF, THE INSTALLMENT PAYMENTS APPLICABLE THERETO,
THE EQUIPMENT LOCATION, AND IF SPECIFIED, CERTAIN FURTHER RELATED INFORMATION.

1.  Equipment Description: as more fully described on Equipment Schedule
                           Exhibit A

2.  Advance Amount:        $312,229.80

3.  Installment Payments:  Except as otherwise provided in the Agreement or in
                           this Schedule, the Advance Amount will be repaid in
                           installments commencing April 1, 2000 as follows:

                           36 consecutive installments of $10,006.97 each,
                           payable monthly in advance, plus a final payment of
                           $34,345.28. First and last payments are due upon
                           execution hereof.

4.  Equipment Location:    Per attached Equipment Schedule Exhibit A.

5.                         Other Provisions: None

ACCEPTED and APPROVED on March 29, 2000, as Schedule 003 to and made a part of
the Agreement.

PENTECH FINANCIAL SERVICES, INC.               VIROLOGIC, INC.
A California corporation,                      A Delaware corporation
(Secured Party)                                (Debtor)

By:                                            By:  /s/ Martin H. Goldstein
   ------------------------------                 ------------------------------
Title:                                         Title: President
   ------------------------------                    ---------------------------

Address: 310 West Hamilton Avenue, Suite 202    Address: 270 East Grand Ave.
         Campbell, Ca 95008                              South San Francisco, CA
                                                         94080

<PAGE>   16
ViroLogic, Inc.
Pentech Leaseline Schedule #3

<TABLE>
<CAPTION>
                            City Description/                                                                   Ck
Ref. #  Vendor                   Model #           P.O.#  Invoice #   Serial#  Cost         Total     Check#   Date      Soft Costs
-----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>                 <C>                    <C>     <C>         <C>      <C>          <C>        <C>     <C>       <C>
40      Scitec Consultants   1  Infection System   41569   99-140               288,434.00
                                Sales Tax                                        23,795.80              5801    04/13/99   23,795.80
                                                                                             312,229.80 6162    06/12/99
Total                                                                                        312,229.80                    23,795.80
</TABLE>
<TABLE>
<S>                                                        <C>
SECURED PARTY: PENTECH FINANCIAL SERVICES, INC.             DEBTOR: VIROLOGIC, INC.
               a California corporation                             a Delaware corporation

By:                                                         By: /s/ Martin H. Goldstein
   -----------------------------------------                   --------------------------------------------
Name: Benjamin E. Millerbis                                 Name: MARTIN H. GOLDSTEIN
      --------------------------------------                      -----------------------------------------
Title: President                                            Title: President
       -------------------------------------                       ----------------------------------------
Date:  March 29, 2000                                       Date:  March 29, 2000
       -------------------------------------                       ----------------------------------------
</TABLE>
<PAGE>   17
055759 IMPORTANT -- READ INSTRUCTIONS ON BACK BEFORE FILLING OUT FORM -- DO NOT
DETACH STUB

                                            THIS SPACE FOR USE OF FILING OFFICER

FINANCING STATEMENT -- FOLLOW INSTRUCTIONS
CAREFULLY
This Financing Statement is presented for
filing pursuant to the Uniform Commercial
Code and will remain effective, with
certain exceptions, for 6 years from the
date of filing.

<TABLE>
<S>                                                  <C>
-----------------------------------------------------------------------------------------
A. NAME & TEL. # OF CONTACT AT FILER (optional)        B. FILING OFFICE ACCT. # (optional)
-----------------------------------------------------------------------------------------
C. RETURN COPY TO: (Name and Mailing Address)

     PENTECH FINANCIAL SERVICES, INC.
     310 WEST HAMILTON AVE.
     SUITE 202
     CAMPBELL, CA 95008

------------------------------------------------------------------------------------------------------
D. OPTIONAL, DESIGNATION (if applicable): [ ] LESSOR/LESSEE [ ] CONSIGNOR/CONSIGNEE [ ] NON-UCC FILING

</TABLE>

<TABLE>
<S>                                                             <C>                     <C>
------------------------------------------------------------------------------------------------------------------------------------
1. DEBTOR'S EXACT FULL LEGAL NAME -- Insert only one debtor name (1a or 1b)
   ---------------------------------------------------------------------------------------------------------------------------------
   1a. ENTITY'S NAME
     VIROLOGIC, INC., A DELAWARE CORPORATION
OR ---------------------------------------------------------------------------------------------------------------------------------
   1b. INDIVIDUAL'S LAST NAME                                   FIRST NAME               MIDDLE NAME            SUFFIX

------------------------------------------------------------------------------------------------------------------------------------
1c. MAILING ADDRESS                                             CITY                     STATE        COUNTRY         POSTAL CODE
    270 EAST GRAND AVE.                                          SOUTH SAN FRANCISCO     CA            USA             94080
------------------------------------------------------------------------------------------------------------------------------------
1d. S.S. OR TAX I.D. #      OPTIONAL      1e. TYPE OF ENTITY    1f. ENTITY'S STATE       1g. ENTITY'S ORGANIZATIONAL I.D. #, if any
                         ADD'NL INFO RE                         OR COUNTY OF
94-3234479               ENTITY DEBTOR                          ORGANIZATION                                                [ ] NONE
------------------------------------------------------------------------------------------------------------------------------------
2. ADDITIONAL DEBTOR'S EXACT FULL LEGAL NAME -- Insert only one debtor name (2a or 2b)
   ---------------------------------------------------------------------------------------------------------------------------------
   2a. ENTITY'S NAME

OR ---------------------------------------------------------------------------------------------------------------------------------
   2b. INDIVIDUAL'S LAST NAME                                   FIRST NAME               MIDDLE NAME            SUFFIX

------------------------------------------------------------------------------------------------------------------------------------
2c. MAILING ADDRESS                                             CITY                     STATE        COUNTRY         POSTAL CODE

------------------------------------------------------------------------------------------------------------------------------------
2d. S.S. OR TAX I.D. #      OPTIONAL      2e. TYPE OF ENTITY    2f. ENTITY'S STATE       2g. ENTITY'S ORGANIZATIONAL I.D. #, if any
                         ADD'NL INFO RE                         OR COUNTY OF
                         ENTITY DEBTOR                          ORGANIZATION                                                [ ] NONE
------------------------------------------------------------------------------------------------------------------------------------
3. SECURED PARTY'S (ORIGINAL S/P or ITS TOTAL ASSIGNEE) EXACT FULL LEGAL NAME -- Insert only one secured party name (3a or 3b)
   ---------------------------------------------------------------------------------------------------------------------------------
   3a. ENTITY'S NAME
    PENTECH FINANCIAL SERVICES, INC.
OR ---------------------------------------------------------------------------------------------------------------------------------
   3b. INDIVIDUAL'S LAST NAME                                   FIRST NAME               MIDDLE NAME            SUFFIX

------------------------------------------------------------------------------------------------------------------------------------
3c. MAILING ADDRESS                                             CITY                     STATE        COUNTRY         POSTAL CODE
    310 WEST HAMILTON AVE., SUITE 202                            CAMPBELL                CA            USA             95008
------------------------------------------------------------------------------------------------------------------------------------
4. This FINANCIAL STATEMENT covers the following types or items of property:

     SEE ATTACHED SCHEDULE 3

     EFA NO. 200371
     SCHEDULE NO. 4
------------------------------------------------------------------------------------------------------------------------------------
5. CHECK BOX      [ ] This FINANCING STATEMENT is signed by the Secured Party instead of the   7. If filed in Florida (check one)
   (if applicable)    Debtor to perfect a security interest (a) In collateral already subject  [ ] Documentary [ ] Documentary stamp
                      to a security interest in another jurisdiction when it was brought into    stamp tax paid   tax not applicable
                      this state, or when the debtor's location was changed to this state, or
                      (b) in accordance with other statutory provisions (additional information
                      may be required)
------------------------------------------------------------------------------------------------------------------------------------
6. REQUIRED SIGNATURE                                                    8. [ ] This FINANCING STATEMENT is to be filed (for record)
                                                                                (or recorded) in the REAL ESTATE RECORDS
                     /s/    MARTIN H. GOLDSTEIN                                 Attach Addendum                      (if applicable)
------------------------------------------------------------------------------------------------------------------------------------
                                                                         9. Check to REQUEST SEARCH CERTIFICATE(S) on Debtor(s)
                                                                         (ADDITIONAL FEE)
                                                                         (optional)      [ ] All Debtors  [ ] Debtor 1  [ ] Debtor 2
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>   18
REGISTRE, INC.      DETACH COPY ONE AND SEND TO FILING OFFICE WITHOUT CARBONS
214 PIERCE ST.
P.O. BOX 218                                                              02979
ANOKA, MN 55202
(612) 421-1710    N

                               STATE OF DELAWARE

          UNIFORM COMMERCIAL CODE - FINANCING STATEMENT - FORM UCC - 1
--------------------------------------------------------------------------------
THIS FINANCING STATEMENT IS PRESENTED TO A FILING OFFICER FOR FILING PURSUANT
TO THE UNIFORM COMMERCIAL CODE.

IF TO BE FILED WITH RECORDER OF DEEDS INDICATE TAX PARCEL NO.(S).
                                                                  -------------

NO. OF ADDITIONAL SHEETS PRESENTED     1        .
                                   -------------
--------------------------------------------------------------------------------
                                    PARTIES
--------------------------------------------------------------------------------
Debtor (or Assignor) (last name first if individual) and mailing address:

VIROLOGIC, INC., A DELAWARE CORPORATION
270 EAST GRAND AVE.
SOUTH SAN FRANCISCO, CA 94080
--------------------------------------------------------------------------------
Debtor (or Assignor) (last name first if individual) and mailing address:

--------------------------------------------------------------------------------
This statement is filed without the Debtor's signature to perfect a security
interest in collateral (check X in applicable box(es))

/ / Already subject to a security interest in another jurisdiction when it was
    brought into this State.

/ / Already subject to a security interest in another jurisdiction when the
    Debtor's location changed to this State.

/ / Which is proceeds of the original collateral described below in which a
    security interest is perfected.

/ / Acquired after a change of name, identity or corporate structure of Debtor.

/ / As to which the filing has lapsed.

--------------------------------------------------------------------------------

By:
    ----------------------------------------------------------------------------
     SIGNATURE OF SECURED PARTY(IES)                         TITLE
                       (REQUIRED ONLY IF ITEM IS CHECKED)
--------------------------------------------------------------------------------
                                    PARTIES
--------------------------------------------------------------------------------
Secured Party(ies) (last name first if individual) and address:

PENTECH FINANCIAL SERVICES, INC.
310 WEST HAMILTON AVE., SUITE 202
CAMPBELL, CA 95008
--------------------------------------------------------------------------------
Assignee (if any) of Secured Party(ies) and address of Assignee:

--------------------------------------------------------------------------------
Special Types of Parties (check X in applicable box(es))

/ / The terms "Debtor" and "Secured Party" mean "Lessee" and "Lessor",
    respectively.

/ / The terms "Debtor" and "Secured Party" mean "Consignee" and "Consignor",
    respectively.

/ / Debtor is a Transmitting Utility.

/ / Debtor is acting in representative capacity (e.g., as trustee).
--------------------------------------------------------------------------------
Filed With:  SECRETARY OF STATE
--------------------------------------------------------------------------------
Prepared By (Name and Address):

PENTECH FINANCIAL SERVICES, INC.
310 WEST HAMILTON, AVE., SUITE 202
CAMPBELL, CA 95008
--------------------------------------------------------------------------------
/ / Check to request Continuation Statement notice for additional fee.
--------------------------------------------------------------------------------
This Financing Statement covers the following types (or items) of property:
Check only if applicable: / / Products of collateral are also covered.

SEE ATTACHED SCHEDULE 4

EFA NO. 200371
SCHEDULE NO. 4
--------------------------------------------------------------------------------
If the collateral is crops, the crops are growing or to be grown on the
following described real estate:

--------------------------------------------------------------------------------
If the collateral is (a) goods that are or are to become fixtures; (b) timber
to be cut; or (c) minerals or the like (including oil and gas) or accounts
resulting from the sale thereof at the wellhead or minehead, the description of
the real estate concerned is: (check X in applicable box(es))

/ / Fixtures     / / Timber     / / Minerals or accounts resulting from sale
                                    thereof at wellhead or minehead

And this Financing Statement is to be filed in the real estate records where a
mortgage on such real estate would be recorded. If the Debtor does not have an
interest of record, the name of a record owner is:
--------------------------------------------------------------------------------
VIROLOGIC, INC., A DELAWARE CORPORATION
---------------------------------------

By: /s/  Martin H. Goldstein              President
    -----------------------------------------------
    Signature of Debtor (or Assignor)       Title

--------------------------------------------------------------------------------
THIS SPACE FOR USE OF FILING OFFICER
(DATE, TIME, NUMBER, FILING OFFICER)

<PAGE>   19
                        PENTECH FINANCIAL SERVICES, INC.

EQUIPMENT FINANCING AGREEMENT NO. 200371

SCHEDULE NO. 003

                                   SCHEDULE C

                        STIPULATED LOSS PERCENTAGE VALUE

Terms defined in the Agreement shall have the same meanings when used herein.

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------
Rent Payment    Stipulated Loss         Rent Payment    Stipulated Loss         Rent Payment    Stipulated Loss
                Value Percentage                        Value Percentage                        Value Percentage
<S>             <C>                     <C>             <C>
1               120.00                  22              78.00
2               118.00                  23              76.00
3               116.00                  24              74.00
4               114.00                  25              72.00
5               112.00                  26              70.00
6               110.00                  27              68.00
7               108.00                  28              66.00
8               106.00                  29              64.00
9               104.00                  30              62.00
10              102.00                  31              60.00
11              100.00                  32              58.00
12               98.00                  33              56.00
13               96.00                  34              54.00
14               94.00                  35              52.00
15               92.00                  36              50.00
16               90.00
17               88.00
18               86.00
19               84.00
20               82.00
21               80.00
</TABLE>

Dated:  March 29, 2000
        --------------

PENTECH FINANCIAL SERVICES, INC.       VIROLOGIC, INC., a Delaware corporation
SECURED PARTY                          DEBTOR

                                       The undersigned affirms that he is duly
                                       authorized to execute and deliver this
                                       Schedule on behalf of Debtor.

By:                                    By:  /s/ Martin H. Goldstein
   ------------------------------         ------------------------------

Title:   President                     Title:   President
      ---------------------------            ---------------------------
<PAGE>   20
FROM: ViroLogice, Inc.
      270 East Grand Ave.
      South San Francisco, CA 94080

TO:   Woodruff Sawyer
      220 Bush St., 7th Floor
      San Francisco, CA 98104-3509

      Contact: Steve Sawyer
               --------------------------
      Phone:   (415) 399-6329
               --------------------------
      Fax:
               --------------------------

Dear Steve:

     We have entered into an Equipment Financing Agreement arranged by PENTECH
FINANCIAL SERVICES, INC. for the equipment shown on the attached Equipment
Schedule, Exhibit A ("Schedule").

     Equipment Location: See attached Schedule

     Equipment Description: See attached Schedule

     PLEASE PROVIDE AN INSURANCE CERTIFICATE WITH THE FOLLOWING ENDORSEMENTS:

          LENDER'S LOSS PAYABLE ENDORSEMENT
          EQUIPMENT FINANCING AGREEMENT NO. 200371, SCHEDULE 003
          EQUIPMENT COST $312,299.80

     Please fax a copy of the Certificate of Insurance to PENTECH FINANCIAL
SERVICES, INC., facsimile number (408) 378-3304, and forward the original to
PENTECH FINANCIAL SERVICES, INC., 310 West Hamilton Avenue, Suite 202,
Campbell, CA 95008.

                                   Very truly yours,
                                   ViroLogic, Inc.
                                   a Delaware corporation

                                   By: /s/ Martin H. Goldstein
                                       ----------------------------------
                                   Name: MARTIN H. GOLDSTEIN
                                        ---------------------------------
                                   Title: President
                                         --------------------------------
<PAGE>   21
                           DISBURSEMENT AUTHORIZATION

TO:  PENTECH FINANCIAL SERVICES, INC.

     The undersigned hereby certifies that all the property described below
(the "Equipment"), which is to be financed for the undersigned pursuant to the
Equipment Financing Agreement No. 200371 with effective date of March 28, 2000,
(the "Agreement") and its Schedule No. 003 thereunder dated April 1, 2000,
between PENTECH FINANCIAL SERVICES, INC. ("PENTECH") and the undersigned as
Debtor, has been furnished to the undersigned, that delivery and installation
of the Equipment have been fully completed and that all the Equipment is
acceptable in all respects to the undersigned.

     In view of the above, the undersigned hereby authorizes and requests
PENTECH to pay for the Equipment in accordance with the terms of any purchase
orders the undersigned may have issued for the same and/or to pay the
undersigned the advance amount to the extent the undersigned has previously
paid for the Equipment, as appropriate. The undersigned acknowledges that you
are relying upon this executed Disbursement Authorization in so doing. Debtor
authorizes PENTECH to disburse the total advance as follows:

            $312,229.80          To:  ViroLogic, Inc.

       Total:  $312,229.80

                                   Equipment

                        SEE EQUIPMENT SCHEDULE EXHIBIT A
                    ATTACHED HERETO AND MADE A PART HEREOF.

     The undersigned recognizes that by executing this Disbursement
Authorization the undersigned's non-terminable installation payment obligation
under the Agreement will commence. The undersigned reaffirms its understanding
that the Agreement is solely a financing agreement and that, accordingly,
PENTECH FINANCIAL SERVICES, INC. has made no warranties, express or implied, as
to the Equipment or any other matter and that there are no warranties, express
or implied, created by law and further that, accordingly, the undersigned's
obligation to pay amounts due under the Agreement will not be affected by any
problems the undersigned may experience with the Equipment or any similar or
dissimilar occurrence as more fully set forth in the Agreement.

     Date Equipment accepted by Debtor:  March 29, 2000

DEBTOR    VIROLOGIC, Inc.
          a Delaware corporation

By:  /s/ Martin H. Goldstein
   -----------------------------

Name:  Martin H. Goldstein
     ---------------------------

Title:  President
      --------------------------

<PAGE>   22
                        PENTECH FINANCIAL SERVICES, INC.
                              310 W. Hamilton Ave.
                                   Suite 202
                               Campbell, CA 95008

                                    INVOICE

ViroLogic, Inc.
270 East Grand Ave.
South San Francisco, CA 94080
--------------------------------------------------------------------------------

EFA No. 200371, Schedule No. 003                      March 29, 2000

     Advance Payment 2 @ $10,006.97                     $20,013.94

     Documentation Fee                                  $   250.00

     UCC Fee                                            $   100.00
                                                        ----------
                                                        $20,363.94
--------------------------------------------------------------------------------

     Deposit Applied                                    $ 2,500.00

--------------------------------------------------------------------------------

     BALANCE DUE UPON RECEIPT                           $17,863.94
                                                        ==========
<PAGE>   23
                        PENTECH FINANCIAL SERVICES, INC.

          SCHEDULE NO. 005 TO EQUIPMENT FINANCING AGREEMENT NO. 200371
            BETWEEN PENTECH FINANCIAL SERVICES, INC., SECURED PARTY,
                          AND VIROLOGIC, INC., DEBTOR,
                     WITH EFFECTIVE DATE OF MARCH 28, 2000.

SECURED PARTY AND DEBTOR HEREBY ACKNOWLEDGE THAT THE ITEMS OF EQUIPMENT
DESCRIBED IN THIS SCHEDULE ARE COVERED BY THE EQUIPMENT FINANCING AGREEMENT
("THE AGREEMENT") AND THAT THE FOLLOWING IS A DESCRIPTION OF SAID ITEMS, THE
ADVANCE AMOUNT ON ACCOUNT THEREOF, THE INSTALLMENT PAYMENTS APPLICABLE THERETO,
THE EQUIPMENT LOCATION, AND IF SPECIFIED, CERTAIN FURTHER RELATED INFORMATION.

1.  Equipment Description: as more fully described on Equipment Schedule
                           Exhibit A

2.  Advance Amount:        $130,163.36

3.  Installment Payments:  Except as otherwise provided in the Agreement or in
                           this Schedule, the Advance Amount will be repaid in
                           installments commencing April 1, 2000 as follows:

                           36 consecutive installments of $4,171.74 each,
                           payable monthly in advance, plus a final payment of
                           $14,317.97. First and last payment(s) are due upon
                           execution hereof.

4.  Equipment Location:    Per attached Equipment Schedule Exhibit A.

5.                         Other Provisions: None

ACCEPTED and APPROVED on April 1, 2000, as Schedule 005 to and made a part of
the Agreement.

PENTECH FINANCIAL SERVICES, INC.               VIROLOGIC, INC.
A California corporation,                      A Delaware corporation
(Secured Party)                                (Debtor)

By:                                            By:  /s/ Martin H. Goldstein
   ------------------------------                 ------------------------------
Title:                                         Title: President
   ------------------------------                    ---------------------------

Address: 310 West Hamilton Avenue, Suite 202   Address:  270 East Grand Avenue
         Campbell, Ca 95008                              South San Francisco, CA
                                                         94080

<PAGE>   24

ViroLogic, Inc.
Pentech Leaseline Schedule #005

<TABLE>

<CAPTION>
<S>         <C>               <C>   <C>                            <C>         <C>
Ref. #      Vendor            Qty   Description/Model #            P.O. #      Invoice #
______      ______            ___   ___________________            ______      _________

1           Ofagen Inc        1     Centrifgue 4-15                41267       90182717
                              1     Plate Rotor 2x96
                                    Freight
                                    Sales Tax

2           Wallac Inc        1     Stacker/Robotic Victor2        41261       110773
                              1     Injector Module
                              1     Dual Fuel Bon Barcode Reader
                                    Freight
                                    Sales Tax

3           WWR Scientific    1     Beckman Microfuge 18           41458       19243770
                                    Sales Tax

4           Beckman Coulter   1     Coulter Z1 Dual Threshold      41336       107876FL01
                                     Packed
                                    Counter vipZ Pack Starter Kit
                                    Sales Tax

5           WWR Scientific    2     Biohil Electronic Pipeter      41499        20015780
                                     0.2-10 ul
                              1     Biohil Electronic Pipeter
                                     & Channel 50-1200 ul
                                    Sales Tax

6           Qiagen Inc        1     Qlaptep 96 Plasnrid Mini Prep  41498       90199964
                                    Freight
                                    Sales Tax

7           Mchfaster Care    1     15 Gallon Wet/Dry Hepa Vacuum  41514        6442936
             Supply Co              Freight
                                    Sales Tax

8           WWR Scientific    1     Eppendorf Thermomixer          41563        21648891
                              1     Thermobile for Thermomixer
                                    Sales Tax

9           Forma Scientific  6     Biosafety Cabinet Exhaust Fans 51308        2790660
                                    Freight
                                    Sales Tax

<CAPTION>

<S>         <C>             <C>           <C>                <C>              <C>

Serial #    Cost            Total         Check #           Ck Date           Soft Costs
________    __________      ________      _______           _______           __________
63421        7,281.75
             1,577.00
                 5.00                                                            5.00
               731.27                                                          731.27
                            9,595.02       4582              10/28/98
42D0631     31,800.00
29981188     9,945.00
             2,890.20
               201.77                                                           207.87
             3,682.40                                                         3,682.40
                           48,519.37       4697               11/18/98
MFA98F04     2,137.50
               176.35                                                           176.35
                            2,313.85       4885               12/03/98
AB40050     12,675.00
               357.00
             1,075.97                                                          1,075.97
                           14,117.97       4903               12/15/98
               972.00
               864.00
               151.47                                                            151.47
                            1,987.47       4953               12/15/98
N/A          2,420.00
                20.07                                                             20.07
               199.66                                                            199.66
                            2,639.73       4942               12/15/98
S8291231182  1,023.51
                22.85                                                             22.85
                84.44                                                             84.44
                            1,130.80       4928               12/15/98
             1,831.47
               355.58                                                            355.58
               180.43                                                            180.43
                            2,357.48       5271               01/27/99
             2,916.00
               285.99                                                            285.99
               240.57                                                            240.57
                            3,442.56       5719               03/31/99
</TABLE>
<PAGE>   25
ViroLogic, Inc.
Pentech Leaseline Schedule #005

<TABLE>
<CAPTION>

Ref.#  Vendor         Qty Description/Model #      P.O.#  Invoice#   Serial#        Cost       Total   Check#  Ck Date  Soft Costs
------------------------------------------------------------------------------------------------------------------------------------
<S> <C>               <C> <C>                      <C>    <C>                 <C>           <C>          <C>    <C>      <C>
    Subtotal - Lab Equipment                                                                  66,114.25                     7,419.92

10  Flash
    Telecommunications 1  Legend Expansion Cabinet
                          w/12 Port Analog St       41639   5262                   2,754.10
                                                                                               2,754.10    5191   01/21/99
11  Bl Office
    Products           1  4 Drawer Lateral File
                            Cabinet                 41665   26377550                 653.67
                          1  Overfile Cabinet                                        303.75
                          1  Overfile Cabinet Lock
                             Kit                                                      24.30
                             Sales Tax                                                81.00                                    81.00
                                                                                               1,062.72    5155   01/13/99
12  Ciber Network
    Services           1  LP725 Data/Video/Zoom
                          LCD Projector             51193   516983   1S2PW8430431  4,358.00
                          Freight                                                      8.75                                     8.75
                          Sales Tax                                                  359.54                                   359.54
                                                                                               4,726.29    5538   03/10/99
13 Quality Systems    20  Workstations                      1727-99               32,800.00                7095   09/27/99
                          Sales Tax                                                2,706.00                7186   10/04/99  2,706.00
                                                                                                           7251   10/12/99
                                                                                              35,506.00    7291   10/21/99

Subtotal - Office Equipment                                                                   44,049.11                     3,155.29

                                                                                             130,163.36                    10,575.21
</TABLE>

SECURED PARTY: Pentech Financial Services, Inc.   VIROLOGIC, INC.
               a California corporation           a Delaware Corporation

By:                                               By: Martin H. Goldstein
   ------------------------------------------        ---------------------------

Name: Benjamin E. Millerbis                       Name: Martin H. Goldstein
     ----------------------------------------        ---------------------------

Title: President                                  Title: President
     ----------------------------------------        ---------------------------

Date: April 1, 2000                               Date: 4/14/00
     ----------------------------------------        ---------------------------

<PAGE>   26
                           DISBURSEMENT AUTHORIZATION

TO:  PENTECH FINANCIAL SERVICES, INC.

     The undersigned hereby certifies that all the property described below
(the "Equipment"), which is to be financed for the undersigned pursuant to the
Equipment Financing Agreement No. 200371 with effective date of March 28, 2000,
(the "Agreement") and its Schedule No. 005 thereunder dated April 1, 2000,
between PENTECH FINANCIAL SERVICES, INC. ("PENTECH") and the undersigned as
Debtor, has been furnished to the undersigned, that delivery and installation
of the Equipment have been fully completed and that all the Equipment is
acceptable in all respects to the undersigned.

     In view of the above, the undersigned hereby authorizes and requests
PENTECH to pay for the Equipment in accordance with the terms of any purchase
orders the undersigned may have issued for the same and/or to pay the
undersigned the advance amount to the extent the undersigned has previously
paid for the Equipment, as appropriate. The undersigned acknowledges that you
are relying upon this executed Disbursement Authorization in so doing. Debtor
authorizes PENTECH to disburse the total advance as follows:

            $130,163.36          To:  ViroLogic, Inc.

       Total:  $130,163.36

                                   Equipment

                        SEE EQUIPMENT SCHEDULE EXHIBIT A
                    ATTACHED HERETO AND MADE A PART HEREOF.

     The undersigned recognizes that by executing this Disbursement
Authorization the undersigned's non-terminable installation payment obligation
under the Agreement will commence. The undersigned reaffirms its understanding
that the Agreement is solely a financing agreement and that, accordingly,
PENTECH FINANCIAL SERVICES, INC. has made no warranties, express or implied, as
to the Equipment or any other matter and that there are no warranties, express
or implied, created by law and further that, accordingly, the undersigned's
obligation to pay amounts due under the Agreement will not be affected by any
problems the undersigned may experience with the Equipment or any similar or
dissimilar occurrence as more fully set forth in the Agreement.

     Date Equipment accepted by Debtor:  March 29, 2000

DEBTOR    VIROLOGIC, Inc.
          a Delaware corporation

By:  /s/ Martin H. Goldstein
   -----------------------------

Name:  Martin H. Goldstein
     ---------------------------

Title:  President
      --------------------------

<PAGE>   27
FROM: ViroLogice, Inc.
      270 East Grand Ave.
      South San Francisco, CA 94080

TO:   Woodruff Sawyer
      220 Bush St., 7th Floor
      San Francisco, CA 98104-3509

      Contact: Steve Sawyer
               --------------------------
      Phone:   (415) 399-6329
               --------------------------
      Fax:
               --------------------------

Dear Steve:

     We have entered into an Equipment Financing Agreement arranged by PENTECH
FINANCIAL SERVICES, INC. for the equipment shown on the attached Equipment
Schedule, Exhibit A ("Schedule").

     Equipment Location: See attached Schedule

     Equipment Description: See attached Schedule

     PLEASE PROVIDE AN INSURANCE CERTIFICATE WITH THE FOLLOWING ENDORSEMENTS:

          LENDER'S LOSS PAYABLE ENDORSEMENT
          EQUIPMENT FINANCING AGREEMENT NO. 200371, SCHEDULE 005
          EQUIPMENT COST $130,163.36

     Please fax a copy of the Certificate of Insurance to PENTECH FINANCIAL
SERVICES, INC., facsimile number (408) 378-3304, and forward the original to
PENTECH FINANCIAL SERVICES, INC., 310 West Hamilton Avenue, Suite 202,
Campbell, CA 95008.

                                   Very truly yours,
                                   ViroLogic, Inc.
                                   a Delaware corporation

                                   By: /s/ Martin H. Goldstein
                                       ----------------------------------
                                   Name: MARTIN H. GOLDSTEIN
                                        ---------------------------------
                                   Title: President
                                         --------------------------------
<PAGE>   28
                        PENTECH FINANCIAL SERVICES, INC.

EQUIPMENT FINANCING AGREEMENT NO. 200371

SCHEDULE NO. 005

                                   SCHEDULE C

                        STIPULATED LOSS PERCENTAGE VALUE

Terms defined in the Agreement shall have the same meanings when used herein.

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------
Rent Payment    Stipulated Loss         Rent Payment    Stipulated Loss         Rent Payment    Stipulated Loss
                Value Percentage                        Value Percentage                        Value Percentage
<S>             <C>                     <C>             <C>
1               120.00                  22              78.00
2               118.00                  23              76.00
3               116.00                  24              74.00
4               114.00                  25              72.00
5               112.00                  26              70.00
6               110.00                  27              68.00
7               108.00                  28              66.00
8               106.00                  29              64.00
9               104.00                  30              62.00
10              102.00                  31              60.00
11              100.00                  32              58.00
12               98.00                  33              56.00
13               96.00                  34              54.00
14               94.00                  35              52.00
15               92.00                  36              50.00
16               90.00
17               88.00
18               86.00
19               84.00
20               82.00
21               80.00
</TABLE>

Dated:  April 1, 2000
        -------------

PENTECH FINANCIAL SERVICES, INC.       VIROLOGIC, INC., a Delaware corporation
SECURED PARTY                          DEBTOR

                                       The undersigned affirms that he is duly
                                       authorized to execute and deliver this
                                       Schedule on behalf of Debtor.

By:                                    By:  /s/ Martin H. Goldstein
   ------------------------------         ------------------------------

Title:   President                     Title:   President
      ---------------------------            ---------------------------
<PAGE>   29
REGISTRE, INC.      DETACH COPY ONE AND SEND TO FILING OFFICE WITHOUT CARBONS
214 PIERCE ST.
P.O. BOX 218                                                              02988
ANOKA, MN 55202
(612) 421-1710    N

                               STATE OF DELAWARE

          UNIFORM COMMERCIAL CODE - FINANCING STATEMENT - FORM UCC - 1
--------------------------------------------------------------------------------
THIS FINANCING STATEMENT IS PRESENTED TO A FILING OFFICER FOR FILING PURSUANT
TO THE UNIFORM COMMERCIAL CODE.

IF TO BE FILED WITH RECORDER OF DEEDS INDICATE TAX PARCEL NO.(S)
                                                                 -------------

NO. OF ADDITIONAL SHEETS PRESENTED              .
                                   -------------
--------------------------------------------------------------------------------
                                    PARTIES
--------------------------------------------------------------------------------
Debtor (or Assignor) (last name first if individual) and mailing address:

VIROLOGIC, INC.,
270 E. Grand Avenue
South San Francisco, CA 94080
--------------------------------------------------------------------------------
Debtor (or Assignor) (last name first if individual) and mailing address:

--------------------------------------------------------------------------------
This statement is filed without the Debtor's signature to perfect a security
interest in collateral (check X in applicable box(es))

/ / Already subject to a security interest in another jurisdiction when it was
    brought into this State.

/ / Already subject to a security interest in another jurisdiction when the
    Debtor's location changed to this State.

/ / Which is proceeds of the original collateral described below in which a
    security interest is perfected.

/ / Acquired after a change of name, identity or corporate structure of Debtor.

/ / As to which the filing has lapsed.

--------------------------------------------------------------------------------

By:
    ----------------------------------------------------------------------------
     SIGNATURE OF SECURED PARTY(IES)                         TITLE
                       (REQUIRED ONLY IF ITEM IS CHECKED)
--------------------------------------------------------------------------------
                                    PARTIES
--------------------------------------------------------------------------------
Secured Party(ies) (last name first if individual) and address:

PENTECH FINANCIAL SERVICES, INC.
310 W. Hamilton Ave., Suite 202
Campbell, CA 95008
--------------------------------------------------------------------------------
Assignee (if any) of Secured Party(ies) and address of Assignee:

--------------------------------------------------------------------------------
Special Types of Parties (check X in applicable box(es))

/ / The terms "Debtor" and "Secured Party" mean "Lessee" and "Lessor",
    respectively.

/ / The terms "Debtor" and "Secured Party" mean "Consignee" and "Consignor",
    respectively.

/ / Debtor is a Transmitting Utility.

/ / Debtor is acting in representative capacity (e.g., as trustee).
--------------------------------------------------------------------------------
Filed With:  Secretary of State
--------------------------------------------------------------------------------
Prepared By (Name and Address):

Pentech Financial Services, Inc.
310 W. Hamilton, Ave., Suite 202
Campbell, CA 95008
--------------------------------------------------------------------------------
/ / Check to request Continuation Statement notice for additional fee.
--------------------------------------------------------------------------------
This Financing Statement covers the following types (or items) of property:
Check only if applicable: / / Products of collateral are also covered.

See Attached Equipment Schedule Exhibit A
Virologic, Inc. EFA No. 200371
Schedule No. 5
--------------------------------------------------------------------------------
If the collateral is crops, the crops are growing or to be grown on the
following described real estate:

--------------------------------------------------------------------------------
If the collateral is (a) goods that are or are to become fixtures; (b) timber
to be cut; or (c) minerals or the like (including oil and gas) or accounts
resulting from the sale thereof at the wellhead or minehead, the description of
the real estate concerned is: (check X in applicable box(es))

/ / Fixtures     / / Timber     / / Minerals or accounts resulting from sale
                                    thereof at wellhead or minehead

And this Financing Statement is to be filed in the real estate records where a
mortgage on such real estate would be recorded. If the Debtor does not have an
interest of record, the name of a record owner is:
--------------------------------------------------------------------------------
VIROLOGIC, INC., A DELAWARE CORPORATION
---------------------------------------

By: /s/  Martin H. Goldstein              President
    -----------------------------------------------
    Signature of Debtor (or Assignor)       Title

--------------------------------------------------------------------------------
THIS SPACE FOR USE OF FILING OFFICER
(DATE, TIME, NUMBER, FILING OFFICER)

<PAGE>   30
055738 IMPORTANT -- READ INSTRUCTIONS ON BACK BEFORE FILLING OUT FORM -- DO NOT
DETACH STUB

                                            THIS SPACE FOR USE OF FILING OFFICER

FINANCING STATEMENT -- FOLLOW INSTRUCTIONS
CAREFULLY
This Financing Statement is presented for
filing pursuant to the Uniform Commercial
Code and will remain effective, with
certain exceptions, for 6 years from the
date of filing.

<TABLE>
<S>                                                  <C>
-----------------------------------------------------------------------------------------
A. NAME & TEL. # OF CONTACT AT FILER (optional)        B. FILING OFFICE ACCT. # (optional)
-----------------------------------------------------------------------------------------
C. RETURN COPY TO: (Name and Mailing Address)

     Pentech Financial Services, Inc.
     310 W. Hamilton Ave., Suite 202
     Campbell, CA 95008

------------------------------------------------------------------------------------------------------
D. OPTIONAL, DESIGNATION (if applicable): [ ] LESSOR/LESSEE [ ] CONSIGNOR/CONSIGNEE [ ] NON-UCC FILING

</TABLE>

<TABLE>
<S>                                                             <C>                     <C>
------------------------------------------------------------------------------------------------------------------------------------
1. DEBTOR'S EXACT FULL LEGAL NAME -- Insert only one debtor name (1a or 1b)
   ---------------------------------------------------------------------------------------------------------------------------------
   1a. ENTITY'S NAME
     ViroLogic, Inc.
OR ---------------------------------------------------------------------------------------------------------------------------------
   1b. INDIVIDUAL'S LAST NAME                                   FIRST NAME               MIDDLE NAME            SUFFIX

------------------------------------------------------------------------------------------------------------------------------------
1c. MAILING ADDRESS                                             CITY                     STATE        COUNTRY         POSTAL CODE
    270 E. Grand Ave.                                            S. San Francisco         CA            USA             94080
------------------------------------------------------------------------------------------------------------------------------------
1d. S.S. OR TAX I.D. #      OPTIONAL      1e. TYPE OF ENTITY    1f. ENTITY'S STATE       1g. ENTITY'S ORGANIZATIONAL I.D. #, if any
                         ADD'NL INFO RE                         OR COUNTY OF
94-3234479               ENTITY DEBTOR                          ORGANIZATION                                                [ ] NONE
------------------------------------------------------------------------------------------------------------------------------------
2. ADDITIONAL DEBTOR'S EXACT FULL LEGAL NAME -- Insert only one debtor name (2a or 2b)
   ---------------------------------------------------------------------------------------------------------------------------------
   2a. ENTITY'S NAME

OR ---------------------------------------------------------------------------------------------------------------------------------
   2b. INDIVIDUAL'S LAST NAME                                   FIRST NAME               MIDDLE NAME            SUFFIX

------------------------------------------------------------------------------------------------------------------------------------
2c. MAILING ADDRESS                                             CITY                     STATE        COUNTRY         POSTAL CODE

------------------------------------------------------------------------------------------------------------------------------------
2d. S.S. OR TAX I.D. #      OPTIONAL      2e. TYPE OF ENTITY    2f. ENTITY'S STATE       2g. ENTITY'S ORGANIZATIONAL I.D. #, if any
                         ADD'NL INFO RE                         OR COUNTY OF
                         ENTITY DEBTOR                          ORGANIZATION                                                [ ] NONE
------------------------------------------------------------------------------------------------------------------------------------
3. SECURED PARTY'S (ORIGINAL S/P or ITS TOTAL ASSIGNEE) EXACT FULL LEGAL NAME -- Insert only one secured party name (3a or 3b)
   ---------------------------------------------------------------------------------------------------------------------------------
   3a. ENTITY'S NAME
    Pentech Financial Services, Inc.
OR ---------------------------------------------------------------------------------------------------------------------------------
   3b. INDIVIDUAL'S LAST NAME                                   FIRST NAME               MIDDLE NAME            SUFFIX

------------------------------------------------------------------------------------------------------------------------------------
3c. MAILING ADDRESS                                             CITY                     STATE        COUNTRY         POSTAL CODE
    310 W. Hamilton Ave., Suite 202                              Campbell                CA            USA             95008
------------------------------------------------------------------------------------------------------------------------------------
4. This FINANCING STATEMENT covers the following types or items of property:

     See Attached Equipment Schedule Exhibit A

     ViroLogic, Inc., EFA No. 200371
     Schedule No. 5
------------------------------------------------------------------------------------------------------------------------------------
5. CHECK BOX      [ ] This FINANCING STATEMENT is signed by the Secured Party instead of the   7. If filed in Florida (check one)
   (if applicable)    Debtor to perfect a security interest (a) in collateral already subject  [ ] Documentary [ ] Documentary stamp
                      to a security interest in another jurisdiction when it was brought into    stamp tax paid   tax not applicable
                      this state, or when the debtor's location was changed to this state, or
                      (b) in accordance with other statutory provisions (additional data
                      may be required)
------------------------------------------------------------------------------------------------------------------------------------
6. REQUIRED SIGNATURE(S)                                                 8. [ ] This FINANCING STATEMENT is to be filed (for record)
                                                                                (or recorded) in the REAL ESTATE RECORDS
                     /s/    MARTIN H. GOLDSTEIN                                 Attach Addendum                      (if applicable)
------------------------------------------------------------------------------------------------------------------------------------
                                                                         9. Check to REQUEST SEARCH CERTIFICATE(S) on Debtor(s)
           ViroLogic, Inc.                                               (ADDITIONAL FEE)
                                                                         (optional)      [ ] All Debtors  [ ] Debtor 1  [ ] Debtor 2
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>   31
                        PENTECH FINANCIAL SERVICES, INC.
                              310 W. Hamilton Ave.
                                   Suite 202
                               Campbell, CA 95008

                                    INVOICE

ViroLogic, Inc.
270 E. Grand Avenue
South San Francisco, CA 94080
--------------------------------------------------------------------------------

LEASE No. 200371, Supplement 5                        April 1, 2000

     Advance Payment 2 @ $4,171.74                      $ 8,343.48

     Documentation Fee                                  $   250.00

     UCC Fees                                           $   100.00
                                                        ----------
                                                        $ 8,693.48
--------------------------------------------------------------------------------

     BALANCE DUE UPON RECEIPT                           $ 8,693.48
                                                        ==========

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00007-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00007-of-00352.parquet"}]]