Document:

<PAGE>
                                                                     Exhibit 4.3

             VOID AFTER 5:00 P.M. PACIFIC TIME, ON JANUARY 31, 2006

NEITHER THIS WARRANT NOR THE UNDERLYING SHARES HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND
NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO
SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE
COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED

                         VNUS MEDICAL TECHNOLOGIES, INC.

                               WARRANT CERTIFICATE
                        FOR THE PURCHASE OF COMMON STOCK

FOR VALUE RECEIVED, VNUS Medical Technologies, Inc., a Delaware corporation (the
"COMPANY"), hereby certifies that The Bay City Capital Fund I, L.P. or its
permitted assigns (the "HOLDER"), is entitled, subject to the provisions of this
Warrant Certificate ("WARRANT"), to purchase from the Company at any time, or
from time to time during the period commencing on the date hereof (the
"EFFECTIVE DATE") and expiring at 5:00 p.m. Pacific Time, on January 31, 2006
(the "EXPIRATION DATE"), up to 210,000 fully paid and non-assessable shares of
Common Stock (as hereinafter defined), at a per share price (the "ORIGINAL
EXERCISE PRICE") of $4.76. The Original Exercise Price may be adjusted as herein
provided (as may be adjusted, the "EXERCISE PRICE").

This Warrant is issued pursuant to, and is subject to the terms and conditions
of, a Bridge Financing Agreement dated February 1, 2001 between the Company and
Bay City Capital Fund I, L.P. (the "FINANCING AGREEMENT").

The term "COMMON STOCK" means the Common Stock, par value $.001 per share, of
the Company, together with any other equity securities that may be issued by the
Company in respect thereof or in substitution therefor. The number of shares of
Common Stock to be received upon the exercise of this Warrant may be adjusted
from time to time as hereinafter set forth. The shares of Common Stock
deliverable or delivered upon such exercise, as adjusted from time to time, are
hereinafter referred to as "WARRANT STOCK."

Upon receipt by the Company of evidence reasonably satisfactory to it of the
loss, theft, destruction or mutilation of this Warrant, and in the case of loss,
theft, destruction or mutilation, of satisfactory indemnification, and upon
surrender and cancellation of this Warrant, if mutilated, the Company shall
execute and deliver a new Warrant, of like tenor and date for the appropriate
number of shares that the Holder is entitled to purchase.
<PAGE>
1. VESTING.

1.1 VESTING PERIOD. The vesting period for the Warrant shall be as follows:

      (a) 75,000 shares of Common Stock shall vest immediately upon the
Effective Date;

      (b) on June 30, 2001, an additional 60,000 shares of Common Stock shall
vest in the event that all amounts outstanding pursuant to certain promissory
notes issued by the Company pursuant to the Bridge Financing Agreement dated
February 1, 2001 by and between the Holder and the Company, have not been paid
in full; and

      (c) on June 30, 2001, an additional 75,000 shares of Common Stock shall
vest in the event that the Company has (i) failed to close a bona fide
underwritten public offering of its Common Stock pursuant to a registration
statement under the Securities Act of 1933, as amended (the "1933 ACT") in which
the pre-money valuation of the Company is equal to or greater than $200,000,000,
or (ii) failed to complete an Acquisition. For purposes of this Section 1.1, an
"ACQUISITION" means the sale of all or substantially all of the assets of the
Company, or the merger or consolidation of the Company with or into another
entity in which the stockholders of the Company immediately prior to such
transaction hold less than a majority of the voting securities of the surviving
entity immediately subsequent to such transaction; provided that, in either
case, the valuation of the Company in such a transaction must be equal to or
greater than $200,000,000. If the Company has executed a letter of intent on or
before June 30, 2001 to enter into an Acquisition, then the remaining 75,000
shares of Common Stock shall not vest so long as the Acquisition contemplated by
the letter of intent is completed by December 31, 2001. If the Acquisition
contemplated by the letter of intent is not completed for any reason by December
31, 2001, then the remaining 75,000 shares of Common Stock shall immediately
vest upon the first to occur of (x) the termination of the letter of intent or
(y) December 31, 2001.

2. EXERCISE OF WARRANT.

2.1 GENERAL PROCEDURE. This Warrant may be exercised by the Holder, subject to
Section 1 as to the vesting of the shares and the requirements set forth below,
in whole, or in part, at any time during the period commencing on the Effective
Date and expiring at 5:00 p.m. Pacific Time on the Expiration Date, or, if such
day is a day on which banking institutions in San Francisco, California are
authorized by law to close, then on the next succeeding day that shall not be
such a day, by presentation and surrender of this Warrant to the Company at its
principal office or at such other office or agency that the Company shall
designate and delivery of the Warrant Exercise Form attached as Exhibit A to
this Warrant, duly executed and accompanied by payment (either in cash or by
certified or official bank check, payable to the order of the Company) of the
aggregate Exercise Price

                                       2
<PAGE>
for the number of shares specified in such form, if applicable, and instruments
of transfer, if appropriate, duly executed by the Holder. If this Warrant is
exercised in part only, the Company shall, upon surrender of this Warrant for
cancellation, execute and deliver a new Warrant evidencing the rights of the
Holder thereof to purchase the balance of the shares purchasable hereunder.

2.2 NET ISSUE EXERCISE OF WARRANT. Notwithstanding any provisions herein to the
contrary, if the fair market value of one share of Common Stock (at the date of
calculation as set forth below) is greater that the Exercise Price, in lieu of
exercising this Warrant for cash, the Holder may elect to receive shares of
Common Stock equal to the value (as determined below) of this Warrant (or the
portion thereof being canceled) by surrender of this Warrant at the principal
office of the Company together with the properly endorsed Exhibit A in which
event the Company shall issue to the Holder the number of shares of Common Stock
computed using the following formula:

            X = Y (A-B)
                -------
                   A

      Where X = the number of shares of Common Stock to be issued to the Holder;

            Y = the number of shares of Common Stock purchasable under the
                Warrant or, if only a portion of the Warrant is being exercised,
                the portion of the Warrant being canceled (at the date of
                surrender);

            A = the fair market value of one share of Common Stock (at the date
                of surrender); and

            B = the Exercise Price (as adjusted to the date of such
                calculation).

For the purposes of the above calculation, the fair market value of one share of
Common Stock shall be determined by the Company's Board of Directors in the good
faith exercise of its reasonable business judgment; provided, however, that if
at the time of such exercise the Common Stock is listed on any established stock
exchange or a national market system, the fair market value per share shall be
the average of the closing bid and asked prices of the Common Stock quoted in
the over-the-counter market summary, or the last reported sale price of the
Common Stock or the closing price quoted on the NASDAQ National Market System or
on any exchange on which the Common Stock is listed, whichever is applicable, as
published in the Wall Street Journal for the five trading days ending three days
prior to the date of determination of the fair market value. Notwithstanding the
foregoing, in the event the Warrant is exercised in connection with the
Company's initial public offering of its Common Stock, the fair market value per
share shall be the per share offering price to the public specified in the final
prospectus with respect to the Company's initial public offering.

                                       3
<PAGE>
2.3 COMMON STOCK DELIVERY. Upon receipt by the Company of this Warrant, together
with the Exercise Price, at its office in proper form for exercise as described
above, together with an agreement to comply with the restrictions on transfer
and related covenants contained herein and a representation as to investment
intent and any other matter reasonably required by counsel to the Company,
signed by the Holder (and if other than the original Holder accompanied by
proof, reasonably satisfactory to counsel for the Company, of the right of such
person or persons to exercise the Warrant), the Holder shall be deemed to be the
holder of record of the shares of Common Stock issuable upon such exercise
effective immediately prior to the close of business on the day on which this
Warrant shall have been surrendered to the Company as provided in Section 2.1
above, even if the stock transfer books of the Company shall then be closed or
certificates representing such shares of Common Stock shall not have been
delivered to the Holder. The Holder shall pay any and all documentary stamp or
similar issue or transfer taxes payable in respect of the issue or delivery of
shares of Common Stock on exercise of this Warrant. The Company shall promptly
thereafter issue certificate(s) evidencing the Common Stock so purchased.

3. RESERVATION OF SHARES. The Company shall at all times reserve for issuance
and delivery upon exercise of this Warrant 210,000 shares (if and as adjusted)
of Common Stock or other shares of capital stock of the Company (and other
securities) from time to time receivable upon exercise of this Warrant.

4. NO FRACTIONAL SHARES. No fractional shares or script representing fractional
shares shall be issued upon the exercise of this Warrant, but the Company shall
pay the Holder an amount equal to the fair market value (as defined in Section
2.2 hereof) of such fractional share of Common Stock in lieu of each fraction of
a share otherwise called for upon any exercise of this Warrant.

5. TRANSFER.

5.1 SECURITIES LAWS. Each Holder of this Warrant acknowledges that this Warrant,
the Warrant Stock and the Common Stock of the Company have not been registered
under the 1933 Act and agrees not to sell, pledge, distribute, offer for sale,
transfer or otherwise dispose of this Warrant or any Warrant Stock in the
absence of (a) an effective registration under the 1933 Act as to this Warrant
or such Warrant Stock and registration or qualification of this Warrant or such
Warrant Stock under any applicable U.S. federal or state securities laws then in
effect, (b) an opinion of counsel, satisfactory to the Company, that such
registration and qualification are not required, or (c) the transfer is made
pursuant to Rule 144 under the 1933 Act. Each certificate or other instrument
for Warrant Stock issued upon the exercise of this Warrant shall bear a legend
substantially to the foregoing effect.

                                       4
<PAGE>
5.2 CONDITIONS TO TRANSFER. Prior to any such proposed transfer, and as a
condition thereto, if such transfer is not made pursuant to an effective
registration statement under the 1933 Act, the Holder will, if requested by the
Company, deliver to the Company (a) an investment covenant signed by the
proposed transferee, (b) an agreement by such transferee that the restrictive
investment legend set forth above be placed on the certificate or certificates
representing the securities acquired by such transferee, and (c) an agreement by
such transferee that the Company may place a "stop transfer order" with its
transfer agent or registrar.

5.3 TRANSFERABILITY. Subject to the provisions of Section 5.1 hereof, this
Warrant and all rights hereunder are transferable, in whole or in part, upon
surrender of the Warrant with a properly executed assignment in the form of
Exhibit B hereto at the principal office of the Company provided, however, that
this Warrant may not be transferred in part unless the transferee acquires the
right to purchase at least 75,000 shares (as adjusted pursuant to Section 7) of
Warrant Stock hereunder.

5.4 WARRANT REGISTER. The Company will maintain a register containing the names
and addresses of the Holder of this Warrant. Until any transfer of this Warrant
is made in the warrant register, the Company may treat the registered Holder of
this Warrant as the absolute owner hereof for all purposes; provided, however,
that if this Warrant is properly assigned in blank, the Company may (but shall
not be required to) treat the bearer hereof as the absolute owner hereof for all
purposes, notwithstanding any notice to the contrary. Any Holder may change such
Holder's address as shown on the warrant register by written notice to the
Company requesting such change at least ten (10) days prior to the date such
change is to become effective.

6. RIGHTS OF THE HOLDER. The Holder shall not, by virtue hereof, be entitled to
any rights of a stockholder in the Company, either at law or in equity, and the
rights of the Holder are limited to those expressed in this Warrant.

7. ADJUSTMENTS.

7.1 STOCK SPLITS, DIVIDENDS, ETC.

(a) If the Company shall at any time (i) subdivide its outstanding shares of
Common Stock by recapitalization, reclassification or split-up thereof, (ii)
declare a stock dividend in shares of Common Stock or (iii) distribute, except
pursuant to an Excluded Transaction, shares of Common Stock solely to
stockholders of the Company and for other than fair value, the number of shares
of Common Stock purchasable under this Warrant immediately prior to such
subdivision, declaration or distribution or the record date for such dividend
shall be proportionately increased, and if the Company shall at any time combine
the outstanding shares of Common Stock by recapitalization, reclassification or
combination thereof, the number of shares of Common Stock

                                       5
<PAGE>
purchasable under this Warrant immediately prior to such combination shall be
proportionately decreased. Any such adjustment and the adjustment to the number
of shares purchasable and the Exercise Price pursuant to this Section 7 shall be
effective at the close of business on the effective date of such subdivision or
combination, or if any adjustment is the result of a stock dividend or
distribution then the effective date for such adjustment based thereon shall be
the record date therefor. For purposes of this Section 7.1(a), the term
"Excluded Transactions" shall mean (A) the issuance of capital stock to
employees, consultants, advisors, officers or directors of the Company pursuant
to stock purchase or stock option plans or other agreements approved by the
Board, (B) the issuance of securities in connection with acquisition
transactions approved by the Board, (C) the issuance of securities to financial
institutions or lessors in connection with facilities leases, commercial credit
arrangements, equipment financings or similar transactions, (D) the issuance of
shares upon conversion of the Company's preferred stock, or (E) the issuance of
securities pursuant to currently outstanding options, warrants, notes, or other
rights to acquire securities of the Company.

      (b) Whenever the number of shares of Common Stock purchasable upon the
exercise of this Warrant is adjusted as provided in Section 7(a), the Exercise
Price shall be adjusted to the nearest cent by multiplying such Exercise Price
immediately prior to such adjustment by a fraction (x) the numerator of which
shall be the number of shares of Common Stock purchasable upon the exercise
immediately prior to such adjustment, and (y) the denominator of which shall be
the number of shares of Common Stock so purchasable immediately thereafter.

7.2 ADJUSTMENT FOR REORGANIZATION, CONSOLIDATION, MERGER, ETC. In case of any
reorganization of the Company (or any other corporation, the securities of which
are at the time receivable on the exercise of this Warrant) or in case the
Company (or any such other corporation) shall consolidate or merge into another
entity or convey all or substantially all of its assets to another entity, then,
and in each such case, the Holder of this Warrant may, immediately prior to such
transaction, exercise as provided in Section 2, or, at any time after the
consummation of such reorganization, consolidation, merger or conveyance, shall
be entitled to receive, in lieu of the securities and property receivable upon
the exercise of this Warrant prior to such consummation, the securities or
property to which such Holder would have been entitled upon such consummation if
such Holder had exercised this Warrant immediately prior thereto; in each such
case, the terms of this Warrant shall be applicable to the securities or
property received upon the exercise of this Warrant after such consummation.

7.3 CERTIFICATE AS TO ADJUSTMENTS. In each case of an adjustment in the number
of shares of Common Stock receivable on the exercise of this Warrant, the
Company at its expense shall promptly compute such adjustment in accordance with
the terms of the Warrant and prepare a certificate executed by an officer of the
Company setting forth

                                       6
<PAGE>
such adjustment and showing the facts upon which such adjustment is based. The
Company shall forthwith mail a copy of each such certificate to the Holder.

7.4 NOTICES OF RECORD DATE, ETC. In case:

      (a) the Company shall take a record of the holders of its Common Stock (or
other securities at the time receivable upon the exercise of the Warrant) for
the purpose of entitling them to receive any dividend (other than a cash
dividend at the same rate as the rate of the last cash dividend theretofore
paid) or other distribution, or any right to subscribe for, purchase or
otherwise acquire all shares of stock of any class or any other securities, or
to receive any other right; or

      (b) of any voluntary or involuntary dissolution, liquidation or winding-up
of the Company, then, and in each such case, the Company shall mail or cause to
be mailed to each Holder a notice specifying, as the case may be, (i) the date
on which a record is to be taken for the purpose of such dividend, distribution
or right, and stating the amount and character of such dividend, distribution or
right, or (ii) the date on which such reorganization, reclassification,
consolidation, merger, conveyance, dissolution, liquidation or winding-up is to
take place, and the time, if any, to be fixed, as to which the holders of record
of Common Stock (or such other securities at the time receivable upon the
exercise of this Warrant) shall be entitled to exchange their shares of Common
Stock (or such other securities) for securities or other property deliverable
upon such reorganization, reclassification, consolidation, merger, conveyance,
dissolution, liquidation or winding-up. Such notice shall be mailed at least 20
days prior to the date therein specified, and this Warrant may be exercised as
to vested shares prior to said date during the term of the Warrant.

7.5 THRESHOLD FOR ADJUSTMENTS. Anything in this Section 7 to the contrary
notwithstanding, the Company shall not be required to give effect to any
adjustment until the cumulative resulting adjustment in the Exercise Price
pursuant to this Section 7 shall have required a change of the Exercise Price by
at least $0.01, but when the cumulative net effect of more than one adjustment
so determined shall be to change the Exercise Price by at least $0.01, such full
change in the Exercise Price shall thereupon be given effect. No adjustment
shall be made by reason of the issuance of shares upon conversion rights
currently outstanding or any change in the number of treasury shares held by the
Company.

8. NOTICE. Any notice or other communication required or permitted to be given
hereunder shall be in writing and shall be mailed by certified mail, return
receipt requested, or delivered against receipt, if to the Holder, at its
address as shown on the books of the Company, and if to the Company, at its
principal office, 238 East Caribbean Drive, Sunnyvale, CA 94089. Any notice or
other communication given by certified

                                       7
<PAGE>
mail shall be deemed given at the time of certification thereof, except for a
notice changing a party's address which shall be deemed given at the time of
receipt thereof.

9. BINDING EFFECT. The provisions of this Warrant shall be binding upon and
inure to the benefit of (a) the parties hereto, (b) the successors and assigns
of the Company, (c) if the Holder is a corporation, partnership, or other
business entity, the successors and assignee of the Holder, and (d) if the
Holder is a natural person, the assignees, heirs, and personal representative of
the Holder.

10. AMENDMENT OR WAIVER. Any term of this Warrant may be amended or waived upon
written consent of the Company and the Holder.

11. HEADINGS. The headings in this Warrant are for purposes of reference only
and shall not limit or otherwise affect the meaning of any provision of this
Warrant.

12. GOVERNING LAW. This Warrant shall be governed, construed and interpreted in
accordance with the laws of the State of California, without giving effect to
principles of conflicts of law.

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by a duly
authorized officer and effective as of this 1st day of February, 2001.

                                        VNUS MEDICAL TECHNOLOGIES, INC.

                                        By:    /s/ Brian E. Farley
                                               -------------------
                                        Name:  Brian E. Farley
                                        Title: President and Chief Executive
                                               Officer

                                       8
<PAGE>
                                                                       EXHIBIT A

                              WARRANT EXERCISE FORM

To:  VNUS Medical Technologies, Inc.

Please mark one box.

[ ]   The undersigned hereby irrevocably elects to exercise the within Warrant
      to the extent of purchasing _____ shares of Common Stock of VNUS Medical
      Technologies, Inc. and hereby makes payment of $_______ in payment
      therefor representing the full purchase price for such shares at the price
      per share provided for in such Warrant.

[ ]   The undersigned hereby irrevocably elects to exercise the within Warrant
      to the extent of purchasing __________ shares of Common Stock of VNUS
      Medical Technologies, Inc., and herewith elects to pay for such shares by
      reducing the number of shares issuable thereunder in accordance with
      Section 2.2 of the Warrant. The undersigned hereby authorizes VNUS Medical
      Technologies, Inc. to make the required calculation under Section 2.2 of
      the Warrant.

      The undersigned acknowledges that it has reviewed the representations and
warranties contained in Section 6 of the Financing Agreement (as defined in the
Warrant) and by its signature below hereby makes such representations and
warranties to the Company. Defined terms contained in such representations and
warranties shall have the meanings assigned to them in the Financing Agreement,
provided that the term "BCC" shall refer to the undersigned and the term
"SECURITIES" shall refer to the Warrant Stock.

      The undersigned further acknowledges that it has reviewed the market
standoff provisions set forth in Section 1.11 of the Third Restated Stockholders
Agreement and agrees to be bound by such provisions.

Dated: ___________

                                              __________________________
                                              Name of Holder

                                              By:_______________________
                                                   Signature of Holder

                                              Address _____________________

                                                    _______________________

                                                    _______________________

                                       9
<PAGE>
                                                                       EXHIBIT B

                                 ASSIGNMENT FORM

      FOR VALUE RECEIVED, _________________________________, hereby sells,
assigns and transfers all rights of the undersigned under the attached Warrant
with respect to the number of shares of Common Stock covered thereby set forth
below, unto:

<TABLE>
<CAPTION>
     Name of Assignee           Address/Fax Number             No. of Shares
     ----------------           ------------------             -------------
<S>                             <C>                            <C>

</TABLE>

Dated:  ________________________     Signature:_________________________________

                                               _________________________________

                                     Witness:  _________________________________

                                       10<PAGE>
                                                                     Exhibit 4.4

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A
VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE
OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT
RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY
THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

Date of Issuance: February 21, 2001                    Number of Shares:  10,000
                                                         (subject to adjustment)

                         VNUS MEDICAL TECHNOLOGIES, INC.

                          COMMON STOCK PURCHASE WARRANT

            VNUS Medical Technologies, Inc., a Delaware corporation (the
"Company"), for value received, hereby certifies that SPI Commerce Park, LP, a
California limited partnership ("SPI"), or its registered assigns (the
"Registered Holder"), is entitled, subject to the terms set forth below, to
purchase from the Company, at any time after the date hereof and on or before
the Expiration Date (as defined in Section 5 below), up to 10,000 shares of
Common Stock of the Company ("Common Stock"), at a purchase price per share
equal to the average price per share paid by third party investors in the
Company's next bona fide round of equity financing involving Common or Preferred
Stock of the Company. The shares purchasable upon exercise of this Warrant and
the purchase price per share, as adjusted from time to time pursuant to the
provisions of this Warrant, are hereinafter referred to as the "Warrant Stock"
and the "Purchase Price," respectively.

      1.    EXERCISE.

            (a) MANNER OF EXERCISE. This Warrant may be exercised by the
Registered Holder, in whole or in part, by surrendering this Warrant, with the
purchase form appended hereto as Exhibit A duly executed by such Registered
Holder or by such Registered Holder's duly authorized attorney, at the principal
office of the Company, or at such other office or agency as the Company may
designate, accompanied by payment in full of the Purchase Price payable in
respect of the number of shares of Warrant Stock purchased upon such exercise.
The Purchase Price may be paid by cash, check or wire transfer.

            (b) EFFECTIVE TIME OF EXERCISE. Each exercise of this Warrant shall
be deemed to have been effected immediately prior to the close of business on
the day on which this Warrant shall have been surrendered to the Company as
provided in Section 1(a) above. At such time, the person or persons in whose
name or names any certificates for Warrant Stock shall be issuable upon such
exercise as provided in Section 1(d) below shall be deemed to have become the
holder or holders of record of the Warrant Stock represented by such
certificates.
<PAGE>
            (c)   NET ISSUE EXERCISE.

                  (i) In lieu of exercising this Warrant in the manner provided
above in Section 1(a), the Registered Holder may elect to receive shares equal
to the value of this Warrant (or the portion thereof being canceled) by
surrender of this Warrant at the principal office of the Company together with
notice of such election in which event the Company shall issue to such Holder a
number of shares of Warrant Stock computed using the following formula:

                                     X = Y (A - B)
                                         ---------
                                              A

            Where X = The number of shares of Warrant Stock to be issued to the
Registered Holder.

            Y = The number of shares of Warrant Stock purchasable under this
Warrant (at the date of such calculation).

            A = The fair market value of one share of Warrant Stock (at the date
of such calculation).

            B = The Purchase Price (as adjusted to the date of such
calculation).

                  (ii) For purposes of this Section 1(c), the fair market value
of Warrant Stock on the date of calculation shall mean with respect to each
share of Warrant Stock:

                        (A)   if the exercise is in connection with an
initial public offering of the Company's Common Stock, and if the Company's
Registration Statement relating to such public offering has been declared
effective by the Securities and Exchange Commission, then the fair market value
per share shall be the initial "Price to Public" specified in the final
prospectus with respect to the offering;

                        (B)   if this Warrant is exercised after, and not
in connection with, the Company's initial public offering, and if the Company's
Common Stock is traded on a securities exchange or The Nasdaq Stock Market or
actively traded over-the-counter:

                              (1)   if the Company's Common Stock is
traded on a securities exchange or The Nasdaq Stock Market, the fair market
value shall be deemed to be the average of the closing prices for the Common
Stock over a thirty (30) day period ending three days before date of
calculation; or

                              (2)   if the Company's Common Stock is
actively traded over-the-counter, the fair market value shall be deemed to be
the average of the closing bid or sales price (whichever is applicable) for the
Common Stock over the thirty (30) day period ending three days before the date
of calculation; or

                        (C)   if neither (A) nor (B) is applicable, the
fair market value of Warrant Stock shall be at the highest price per share which
the Company could obtain on the date

                                       2
<PAGE>
of calculation from a willing buyer (not a current employee or director) for
shares of Warrant Stock sold by the Company, from authorized but unissued
shares, as determined in good faith by the Board of Directors.

            (d) DELIVERY TO HOLDER. As soon as practicable after the exercise of
this Warrant in whole or in part, and in any event within ten (10) days
thereafter, the Company at its expense will cause to be issued in the name of,
and delivered to, the Registered Holder, or as such Holder (upon payment by such
Holder of any applicable transfer taxes) may direct:

                  (i)   a certificate or certificates for the number of
shares of Warrant Stock to which such Registered Holder shall be entitled,
and

                  (ii) in case such exercise is in part only, a new warrant or
warrants (dated the date hereof) of like tenor, calling in the aggregate on the
face or faces thereof for the number of shares of Warrant Stock equal (without
giving effect to any adjustment therein) to the number of such shares called for
on the face of this Warrant minus the number of such shares purchased by the
Registered Holder upon such exercise as provided in Section 1(a) or 1(c) above.

      2.    ADJUSTMENTS.

            (a) STOCK SPLITS AND DIVIDENDS. If outstanding shares of the
Company's Common Stock shall be subdivided into a greater number of shares or a
dividend in Common Stock shall be paid in respect of Common Stock, the Purchase
Price in effect immediately prior to such subdivision or at the record date of
such dividend shall simultaneously with the effectiveness of such subdivision or
immediately after the record date of such dividend be proportionately reduced.
If outstanding shares of Common Stock shall be combined into a smaller number of
shares, the Purchase Price in effect immediately prior to such combination
shall, simultaneously with the effectiveness of such combination, be
proportionately increased. When any adjustment is required to be made in the
Purchase Price, the number of shares of Warrant Stock purchasable upon the
exercise of this Warrant shall be changed to the number determined by dividing
(i) an amount equal to the number of shares issuable upon the exercise of this
Warrant immediately prior to such adjustment, multiplied by the Purchase Price
in effect immediately prior to such adjustment, by (ii) the Purchase Price in
effect immediately after such adjustment.

            (b) RECLASSIFICATION, ETC. In case there occurs any reclassification
or change of the outstanding securities of the Company or of any reorganization
or merger of the Company (or any other corporation the stock or securities of
which are at the time receivable upon the exercise of this Warrant) or any
similar corporate reorganization on or after the date hereof, then and in each
such case the Registered Holder, upon the exercise hereof at any time after the
consummation of such reclassification, change, merger or reorganization shall be
entitled to receive, in lieu of the stock or other securities and property
receivable upon the exercise hereof prior to such consummation, the stock or
other securities or property to which such Holder would have been entitled upon
such consummation if such Holder had exercised this Warrant immediately prior
thereto, all subject to further adjustment pursuant to the provisions of this
Section 2.

                                       3
<PAGE>
            (c) ADJUSTMENT CERTIFICATE. When any adjustment is required to be
made in the Warrant Stock or the Purchase Price pursuant to this Section 2, the
Company shall promptly mail to the Registered Holder a certificate setting forth
(i) a brief statement of the facts requiring such adjustment, (ii) the Purchase
Price after such adjustment and (iii) the kind and amount of stock or other
securities or property into which this Warrant shall be exercisable after such
adjustment.

      3.    TRANSFERS.

            (a) UNREGISTERED SECURITY. Each holder of this Warrant acknowledges
that this Warrant and the Warrant Stock of the Company have not been registered
under the Securities Act of 1933, as amended (the "Securities Act"), and agrees
not to sell, pledge, distribute, offer for sale, transfer or otherwise dispose
of this Warrant or any Warrant Stock issued upon its exercise in the absence of
(i) an effective registration statement under the Act as to this Warrant or the
Warrant Stock and registration or qualification of this Warrant or the Warrant
Stock under any applicable U.S. federal or state securities law then in effect,
or (ii) an opinion of counsel, satisfactory to the Company, that such
registration and qualification are not required. Each certificate or other
instrument for Warrant Stock issued upon the exercise of this Warrant shall bear
a legend substantially to the foregoing effect.

            (b) TRANSFERABILITY. Subject to the provisions of Section 3(a)
hereof, this Warrant and all rights hereunder are transferable, in whole or in
part, upon surrender of the Warrant with a properly executed assignment (in the
form of Exhibit B hereto) at the principal office of the Company; provided,
however, that this Warrant may not be transferred in part unless the transferee
acquires the right to purchase at least 5,000 shares (as adjusted pursuant to
Section 2) of Warrant Stock hereunder.

            (c) WARRANT REGISTER. The Company will maintain a register
containing the names and addresses of the Registered Holders of this Warrant.
Until any transfer of this Warrant is made in the warrant register, the Company
may treat the Registered Holder of this Warrant as the absolute owner hereof for
all purposes; provided, however, that if this Warrant is properly assigned in
blank, the Company may (but shall not be required to) treat the bearer hereof as
the absolute owner hereof for all purposes, notwithstanding any notice to the
contrary. Any Registered Holder may change such Registered Holder's address as
shown on the warrant register by written notice to the Company requesting such
change.

      4. NO IMPAIRMENT. The Company will not, by amendment of its charter or
through reorganization, consolidation, merger, dissolution, sale of assets or
any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant, but will (subject to Section 13 below) at
all times in good faith assist in the carrying out of all such terms and in the
taking of all such action as may be necessary or appropriate in order to protect
the rights of the holder of this Warrant against impairment.

      5. TERMINATION. This Warrant (and the right to purchase securities upon
exercise hereof) shall terminate upon the earliest to occur of the following
(the "Expiration Date"): (a) February __, 2006 or (b) the sale, conveyance,
disposal, or encumbrance of all or substantially

                                       4
<PAGE>
all of the Company's property or business or the Company's merger into or
consolidation with any other corporation (other than a wholly-owned subsidiary
corporation) or any other transaction or series of related transactions in which
more than fifty percent (50%) of the voting power of the Company is disposed of,
provided that this Section 5(b) shall not apply to a merger effected exclusively
for the purpose of changing the domicile of the Company.

      6.    NOTICES OF CERTAIN TRANSACTIONS.  In case:

            (a) the Company shall take a record of the holders of its Common
Stock (or other stock or securities at the time deliverable upon the exercise of
this Warrant) for the purpose of entitling or enabling them to receive any
dividend or other distribution, or to receive any right to subscribe for or
purchase any shares of stock of any class or any other securities, or to receive
any other right, to subscribe for or purchase any shares of stock of any class
or any other securities, or to receive any other right, or

            (b) of any capital reorganization of the Company, any
reclassification of the capital stock of the Company, any consolidation or
merger of the Company, any consolidation or merger of the Company with or into
another corporation (other than a consolidation or merger in which the Company
is the surviving entity), or any transfer of all or substantially all of the
assets of the Company, or

            (c) of the voluntary or involuntary dissolution, liquidation or
winding-up of the Company, or

            (d) of any redemption of the Common Stock,

then, and in each such case, the Company will mail or cause to be mailed to the
Registered Holder of this Warrant a notice specifying, as the case may be, (i)
the date on which a record is to be taken for the purpose of such dividend,
distribution or right, and stating the amount and character of such dividend,
distribution or right, or (ii) the effective date on which such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation,
winding-up, redemption or conversion is to take place, and the time, if any is
to be fixed, as of which the holders of record of Common Stock (or such other
stock or securities at the time deliverable upon such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation,
winding-up, redemption or conversion) are to be determined. Such notice shall be
mailed at least five (5) days prior to the record date or effective date for the
event specified in such notice.

      7. RESERVATION OF STOCK. The Company will at all times reserve and keep
available, solely for the issuance and delivery upon the exercise of this
Warrant, such shares of Warrant Stock and other stock, securities and property,
as from time to time shall be issuable upon the exercise of this Warrant.

      8. EXCHANGE OF WARRANTS. Upon the surrender by the Registered Holder of
any Warrant or Warrants, properly endorsed, to the Company at the principal
office of the Company, the Company will, subject to the provisions of Section 3
hereof, issue and deliver to or upon the

                                       5
<PAGE>
order of such Holder, at the Company's expense, a new Warrant or Warrants of
like tenor, in the name of such Registered Holder or as such Registered Holder
(upon payment by such Registered Holder of any applicable transfer taxes) may
direct, calling in the aggregate on the face or faces thereof for the number of
shares of Common Stock called for on the face or faces of the Warrant or
Warrants so surrendered.

      9. REPLACEMENT OF WARRANTS. Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and (in the case of loss, theft or destruction) upon delivery of an
indemnity agreement (with surety if reasonably required) in an amount reasonably
satisfactory to the Company, or (in the case of mutilation) upon surrender and
cancellation of this Warrant, the Company will issue, in lieu thereof, a new
Warrant of like tenor.

      10. MAILING OF NOTICES. Any notice required or permitted pursuant to this
Warrant shall be in writing and shall be deemed sufficient upon receipt, when
delivered personally or sent by courier, overnight delivery service or confirmed
facsimile, or forty-eight (48) hours after being deposited in the regular mail,
as certified or registered mail (airmail if sent internationally), with postage
prepaid, addressed (a) if to the Registered Holder, to the address of the
Registered Holder most recently furnished in writing to the Company and (b) if
to the Company, to the address set forth below or subsequently modified by
written notice to the Registered Holder.

      11. NO RIGHTS AS STOCKHOLDER. Until the exercise of this Warrant, the
Registered Holder of this Warrant shall not have or exercise any rights by
virtue hereof as a stockholder of the Company.

      12. NO FRACTIONAL SHARES. No fractional shares of Common Stock will be
issued in connection with any exercise hereunder. In lieu of any fractional
shares which would otherwise be issuable, the Company shall pay cash equal to
the product of such fraction multiplied by the fair market value of one share of
Common Stock on the date of exercise, as determined in good faith by the
Company's Board of Directors.

      13. AMENDMENT OR WAIVER. Any term of this Warrant may be amended or waived
only by an instrument in writing signed by the Company and the Registered
Holder.

      14. HEADINGS. The headings in this Warrant are for purposes of reference
only and shall not limit or otherwise affect the meaning of any provision of
this Warrant.

      15. GOVERNING LAW. This Warrant shall be governed, construed and
interpreted in accordance with the laws of the State of California, without
giving effect to principles of conflicts of law.

                            [Signature page follows]

                                       6
<PAGE>
            IN WITNESS WHEREOF, the Company has caused this Common Stock
Purchase Warrant to be executed by a duly authorized officer as the date set
forth above.

                                    VNUS MEDICAL TECHNOLOGIES, INC.

                                    By:    /s/ Brian E. Farley
                                           ------------------------------
                                    Name:  Brian E. Farley
                                    Title: Chief Executive Officer

                                    Address: 238 East Caribbean Drive
                                             Sunnyvale, California 94089

                                    Fax Number:  (408) 747-1998

                                       7
<PAGE>
                                    EXHIBIT A

                              WARRANT EXERCISE FORM

To:  VNUS Medical Technologies, Inc.

Please mark one box.

[ ]   The undersigned hereby irrevocably elects to exercise the within Warrant
      to the extent of purchasing _____ shares of Common Stock of VNUS Medical
      Technologies, Inc. and hereby makes payment of $_______ in payment
      therefor.

[ ]   The undersigned hereby irrevocably elects to exercise the within Warrant
      to the extent of purchasing __________ shares of Common Stock of VNUS
      Medical Technologies, Inc., and herewith elects to pay for such shares by
      reducing the number of shares issuable thereunder in accordance with
      Section 1(c) of the Warrant. The undersigned hereby authorizes VNUS
      Medical Technologies, Inc. to make the required calculation under Section
      1(c) of the Warrant.

Dated: ___________

                                    _________________________________
                                    Name of Holder

                                    By:______________________________
                                          Signature of Holder

                                    Address _________________________

                                            _________________________

                                            _________________________
<PAGE>
                                    EXHIBIT B

                                 ASSIGNMENT FORM

            FOR VALUE RECEIVED, _________________________________________ hereby
sells, assigns and transfers all of the rights of the undersigned under the
attached Warrant with respect to the number of shares of Common Stock covered
thereby set forth below, unto:

<TABLE>
<CAPTION>
      NAME OF ASSIGNEE             ADDRESS/FAX NUMBER         NO. OF SHARES
      ----------------             ------------------         -------------
<S>                                <C>                        <C>

</TABLE>

Dated:                              Signature:
        -----------------                      ---------------------------------

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

                                    Witness:
                                               ---------------------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}]]