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Exhibit 10.3    
    

 
 

CORGENTECH INC.
  
  2003 EMPLOYEE STOCK PURCHASE PLAN
  
  ADOPTED DECEMBER 5, 2003
  APPROVED BY STOCKHOLDERS JANUARY     , 2004    
    

1.     PURPOSE.  

        (a)   The purpose of the Plan is to provide a means by which Employees of the Company and certain designated Related
Corporations may be given an opportunity to purchase shares of the Common Stock of the Company. 

        (b)   The Company, by means of the Plan, seeks to retain the services of such Employees, to secure and retain the services of
new Employees and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Related Corporations. 

        (c)   The Company intends that the Purchase Rights be considered options issued under an Employee Stock Purchase Plan. 

2.     DEFINITIONs.  

        (a)   "Board" means the Board of Directors of the Company. 

        (b)   "Code" means the Internal Revenue Code of 1986, as
amended.

        (c)   "Committee" means a committee appointed by the Board in accordance with
Section 3(c) of the Plan. 

        (d)   "Common Stock" means the common stock of the Company. 

        (e)   "Company" means Corgentech Inc., a Delaware corporation. 

        (f)    "Contributions" means the payroll deductions and other additional
payments that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make payments not through payroll deductions only if specifically provided for in the Offering, and
then only if the Participant has not already had the maximum permitted amount withheld through payroll deductions during the Offering. 

        (g)   "Corporate Transaction" means the occurrence, in a single transaction or
in a series of related transactions, of any one or more of the following events: 

        (i)    a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company; 

        (ii)   a sale or other disposition of at least ninety percent (90%) of the outstanding securities of the Company; 

        (iii)  a merger, consolidation or similar transaction following which the Company is not the surviving corporation; or 

        (iv)  a merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares
of Common Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or similar transaction into other
property, whether in the form of securities, cash or otherwise. 

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        (h)   "Director" means a member of the Board. 

        (i)    "Eligible Employee" means an Employee who meets the requirements set
forth in the Offering for eligibility to participate in the Offering, provided that such Employee also meets the requirements for eligibility to participate set forth in the Plan. 

        (j)    "Employee" means any person, including Officers and Directors, who is
employed for purposes of Section 423(b)(4) of the Code by the Company or a Related Corporation. Neither service as a Director nor payment of a director's fee shall be sufficient to make an
individual an Employee of the Company or a Related Corporation. 

        (k)   "Employee Stock Purchase Plan" means a plan that grants Purchase Rights
intended to be options issued under an "employee stock purchase plan," as that term is defined in Section 423(b) of the Code. 

        (l)    "Exchange Act" means the Securities Exchange Act of 1934, as amended.

        (m)  "Fair Market Value" means the value of a security, as determined in good
faith by the Board. If the security is listed on any established stock exchange or traded on the Nasdaq National Market or the Nasdaq SmallCap Market, the Fair Market Value of the security, unless
otherwise determined by the Board, shall be the closing sales price (rounded up where necessary to the nearest whole cent) for such security (or the closing bid, if no sales were reported) as quoted
on such exchange or market (or the exchange or market with the greatest volume of trading in the relevant security of the Company) on the Trading Day prior to the relevant determination date, as
reported in The Wall Street Journal or such other source as the Board deems reliable. 

        (n)   "Offering" means the grant of Purchase Rights to purchase shares of
Common Stock under the Plan to Eligible Employees. 

        (o)   "Offering Date" means a date selected by the Board for an Offering to
commence. 

        (p)   "Officer" means a person
who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 

        (q)   "Participant" means an Eligible Employee who holds an outstanding
Purchase Right granted pursuant to the Plan. 

        (r)   "Plan" means this Corgentech Inc. 2003 Employee Stock Purchase
Plan. 

        (s)   "Purchase Date" means one or more dates during an Offering established by
the Board on which Purchase Rights shall be exercised and as of which purchases of shares of Common Stock shall be carried out in accordance with such Offering. 

        (t)    "Purchase Period" means a period of time specified within an Offering
beginning on the Offering Date or on the next day following a Purchase Date within an Offering and ending on a Purchase Date. An Offering may consist of one or more Purchase Periods. 

        (u)   "Purchase Right" means an option to purchase shares of Common Stock
granted pursuant to the Plan. 

        (v)   "Related Corporation" means any parent corporation or subsidiary
corporation, whether now or hereafter existing, as those terms are defined in Sections 424(e) and (f), respectively, of the Code. 

        (w)  "Securities Act" means the Securities Act of 1933, as amended. 

        (x)   "Trading Day" means any
day on which the exchange(s) or market(s) on which shares of Common Stock are listed, whether it be an established stock exchange, the Nasdaq National Market, the Nasdaq SmallCap Market or otherwise,
is open for trading. 

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3.     ADMINISTRATION.  

        (a)   The Board shall administer the Plan unless and until the Board delegates administration to a Committee, as provided in
Section 3(c). Whether or not the Board has delegated administration, the Board shall have the final power to determine all questions of policy and expediency that may arise in the
administration of the Plan. 

        (b)   The Board (or the Committee) shall have the power, subject to, and within the limitations of, the express provisions of
the Plan: 

        (i)    To determine when and how Purchase Rights to purchase shares of Common Stock shall be granted and the provisions of each
Offering of such Purchase Rights (which need not be identical). 

        (ii)   To designate from time to time which Related Corporations of the Company shall be eligible to participate in the Plan. 

        (iii)  To construe and interpret the Plan and Purchase Rights, and to establish, amend and revoke rules and regulations for
the administration of the Plan. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent it shall deem necessary or
expedient to make the Plan fully effective. 

        (iv)  To amend the Plan as provided in Section 15. 

        (v)   Generally, to exercise such powers and to perform such acts as it deems necessary or expedient to promote the best
interests of the Company and its Related Corporations and to carry out the intent that the Plan be treated as an Employee Stock Purchase Plan. 

        (c)   The Board may delegate administration of the Plan to a Committee of the Board composed of one (1) or more members
of the Board. If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board, subject,
however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the Committee at any time and revest in the
Board the administration of the Plan. If administration is delegated to a Committee, references to the Board in this Plan and in the Offering document shall thereafter be deemed to be to the Board or
the Committee, as the case may be. 

        (d)   All determinations, interpretations and constructions made by the Board in good faith shall not be subject to review by
any person and shall be final, binding and conclusive on all persons. 

4.     SHARES OF COMMON STOCK SUBJECT TO THE PLAN.  

        Subject to the provisions of Section 14 relating to adjustments upon changes in securities, the shares of Common Stock that may be sold pursuant to
Purchase Rights shall not exceed in the aggregate two hundred fifty thousand (250,000) shares of Common Stock, plus an annual increase to be added on the first day of the fiscal year of the Company
for a period of twenty (20) years, commencing on the first day of the fiscal year that begins on January 1, 2005 and ending on (and including) the first day of the fiscal year that
begins on January 1, 2024 (each such day, a "Calculation Date"), equal to the lesser of (i) two percent (2%) of the shares of Common Stock outstanding on each such Calculation Date
(rounded down to the nearest whole share) and (ii) two million (2,000,000) shares of Common Stock. Notwithstanding the foregoing, the Board may act, prior to the first day of any fiscal year of
the Company, to increase the share reserve by such number of shares of Common Stock as the Board shall determine, which number shall be less than the amount described in the foregoing sentence. If any
Purchase Right granted under the Plan shall for any reason terminate without having been exercised, the shares of Common Stock not purchased under such Purchase Right shall again become available for
issuance under the Plan. 

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5.     GRANT OF PURCHASE RIGHTS; OFFERING.  

        (a)   The Board may from time to time grant or provide for the grant of Purchase Rights to purchase shares of Common Stock
under the Plan to Eligible Employees in an Offering (consisting of one or more Purchase Periods) on an Offering Date or Offering Dates selected by the Board. Each Offering shall be in such form and
shall contain such terms and conditions as the Board shall deem appropriate, which shall comply with the requirement of Section 423(b)(5) of the Code that all Employees granted Purchase Rights
shall have the same rights and privileges. The terms and conditions of an Offering shall be incorporated by reference into the Plan and treated as part of the Plan. The provisions of separate
Offerings need not be identical, but each Offering shall include (through incorporation of the provisions of this Plan by reference in the document comprising the Offering or otherwise) the period
during which the Offering shall be effective, which period shall not exceed twenty-seven (27) months beginning with the Offering Date, and the substance of the provisions contained in Sections
6 through 9, inclusive. 

        (b)   If a Participant has more than one Purchase Right outstanding under the Plan, unless he or she otherwise indicates in
agreements or notices delivered hereunder: (i) each agreement or notice delivered by that Participant shall be deemed to apply to all of his or her Purchase Rights under the Plan, and
(ii) a Purchase Right with a lower exercise price (or an earlier-granted Purchase Right, if different Purchase Rights have identical exercise prices) shall be exercised to the fullest possible
extent before a Purchase Right with a higher exercise price (or a later-granted Purchase Right if different Purchase Rights have identical exercise prices) shall be exercised. 

6.     ELIGIBILITY.  

        (a)   Purchase Rights may be granted only to Employees of the Company or, as the Board may designate as provided in
Section 3(b), to Employees of a Related Corporation. Except as provided in Section 6(b), an Employee shall not be eligible to be granted Purchase Rights under the Plan unless, on the
Offering Date, such Employee has been in the employ of the Company or the Related Corporation, as the case may be, for such continuous period preceding such Offering Date as the Board may require, but
in no event shall the required period of continuous employment be greater than two (2) years. In addition, the Board may provide that no Employee shall be eligible to be granted Purchase Rights
under the Plan unless, on the Offering Date, such Employee's customary employment with the Company or the Related Corporation is more than twenty (20) hours per week and/or more than five
(5) months per calendar year. 

        (b)   The Board may provide that each person who, during the course of an Offering, first becomes an Eligible Employee shall,
on a date or dates specified in the Offering which coincides with the day on which such person becomes an Eligible Employee or which occurs thereafter, receive a Purchase Right under that Offering,
which Purchase Right shall thereafter be deemed to be a part of that Offering. Such Purchase Right shall have the same characteristics as any Purchase Rights originally granted under that Offering, as
described herein, except that: 

        (i)    the date on which such Purchase Right is granted shall be the "Offering Date" of such Purchase Right for all purposes,
including determination of the exercise price of such Purchase Right; 

        (ii)   the period of the Offering with respect to such Purchase Right shall begin on its Offering Date and end coincident with
the end of such Offering; and 

        (iii)  the Board may provide that if such person first becomes an Eligible Employee within a specified period of time before
the end of the Offering, he or she shall not receive any Purchase Right under that Offering. 

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        (c)   No Employee shall be eligible for the grant of any Purchase Rights under the Plan if, immediately after any such Purchase
Rights are granted, such Employee owns stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any Related Corporation. For
purposes of this Section 6(c), the rules of Section 424(d) of the Code shall apply in determining the stock ownership of any Employee, and stock which such Employee may purchase under
all outstanding Purchase Rights and options shall be treated as stock owned by such Employee. 

        (d)   As specified by Section 423(b)(8) of the Code, an Eligible Employee may be granted Purchase Rights under the Plan
only if such Purchase Rights, together with any other rights granted under all Employee Stock Purchase Plans of the Company and any Related Corporations, do not permit such Eligible Employee's rights
to purchase stock of the Company or any Related Corporation to accrue at a rate which exceeds twenty five thousand dollars ($25,000) of Fair Market Value of such stock (determined at the time such
rights are granted, and which, with respect to the Plan, shall be determined as of their respective Offering Dates) for each calendar year in which such rights are outstanding at any time. 

        (e)   Officers of the Company and any designated Related Corporation, if they are otherwise Eligible Employees, shall be
eligible to participate in Offerings under the Plan. Notwithstanding the foregoing, the Board may provide in an Offering that Employees who are highly compensated Employees within the meaning of
Section 423(b)(4)(D) of the Code shall not be eligible to participate. 

7.     PURCHASE RIGHTS; PURCHASE PRICE.  

        (a)   On each Offering Date, each Eligible Employee, pursuant to an Offering made under the Plan, shall be granted a Purchase
Right to purchase up to that number of shares of Common Stock purchasable either with a percentage or with a maximum dollar amount, as designated by the Board, but in either case not exceeding fifteen
percent (15%), of such Employee's Earnings (as defined by the Board in each Offering) during the period that begins on the Offering Date (or such later date as the Board determines for a particular
Offering) and ends on the date stated in the Offering, which date shall be no later than the end of the Offering. 

        (b)   The Board shall establish one (1) or more Purchase Dates during an Offering as of which Purchase Rights granted
pursuant to that Offering shall be exercised and purchases of shares of Common Stock shall be carried out in accordance with such Offering. 

        (c)   In connection with each Offering made under the Plan, the Board may specify a maximum number of shares of Common Stock
that may be purchased by any Participant on any Purchase Date during such Offering. In connection with each Offering made under the Plan, the Board may specify a maximum aggregate number of shares of
Common Stock that may be purchased by all Participants pursuant to such Offering. In addition, in connection with each Offering that contains more than one Purchase Date, the Board may specify a
maximum aggregate number of shares of Common Stock that may be purchased by all Participants on any Purchase Date under the Offering. If the aggregate purchase of shares of Common Stock issuable upon
exercise of Purchase Rights granted under the Offering would exceed any such maximum aggregate number, then, in the absence of any Board action otherwise, a pro rata allocation of the shares of Common
Stock available shall be made in as nearly a uniform manner as shall be practicable and equitable. 

        (d)   The purchase price of shares of Common Stock acquired pursuant to Purchase Rights shall be not less than the lesser of: 

        (i)    an amount equal to eighty-five percent (85%) of the Fair Market Value of the shares of Common Stock on the
Offering Date; or 

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        (ii)   an amount equal to eighty-five percent (85%) of the Fair Market Value of the shares of Common Stock on the
applicable Purchase Date. 

8.     PARTICIPATION; WITHDRAWAL; TERMINATION.  

        (a)   A Participant may elect to authorize payroll deductions pursuant to an Offering under the Plan by completing and
delivering to the Company, within the time specified in the Offering, an enrollment form (in such form as the Company may provide). Each such enrollment form shall authorize an amount of Contributions
expressed as a percentage of the submitting Participant's Earnings (as defined in each Offering) during the Offering (not to exceed the maximum percentage specified by the Board). Each Participant's
Contributions shall remain the property of the Participant at all times prior to the purchase of Common Stock, but such Contributions may be commingled with the assets of the Company and used for
general corporate purposes except where applicable law requires that Contributions be deposited with an independent third party. To the extent provided in the Offering, a Participant may begin making
Contributions after the beginning of the Offering. To the extent provided in the Offering, a Participant may thereafter reduce (including to zero) or increase his or her Contributions. To the extent
specifically provided in the Offering, in addition to making Contributions by payroll deductions, a Participant may make Contributions through the payment by cash or check prior to each Purchase Date
of the Offering. 

        (b)   During an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the
Company a notice of withdrawal in such form as the Company may provide. Such withdrawal may be elected at any time prior to the end of the Offering, except as provided otherwise in the Offering. Upon
such withdrawal from the Offering by a Participant, the Company shall distribute to such Participant all of his or her accumulated Contributions (reduced to the extent, if any, such Contributions have
been used to acquire shares of Common Stock for the Participant) under the Offering, and such Participant's Purchase Right in that Offering shall thereupon terminate. A Participant's withdrawal from
an Offering shall have no effect upon such Participant's eligibility to participate in any other Offerings under the Plan, but such Participant shall be required to deliver a new enrollment form in
order to participate in subsequent Offerings. 

        (c)   Purchase Rights granted pursuant to any Offering under the Plan shall terminate immediately upon a Participant ceasing to
be an Employee for any reason or for no reason (subject to any post-employment participation period required by law) or other lack of eligibility. The Company shall distribute to such
terminated or otherwise ineligible Employee all of his or her accumulated Contributions (reduced to the extent, if any, such Contributions have been used to acquire shares of Common Stock for the
terminated or otherwise ineligible Employee) under the Offering. 

        (d)   Purchase Rights shall not be transferable by a Participant otherwise than by will, the laws of descent and distribution,
or a beneficiary designation as provided in Section 13. During a Participant's lifetime, Purchase Rights shall be exercisable only by such Participant. 

        (e)   Unless otherwise specified in an Offering, the Company shall have no obligation to pay interest on Contributions. 

9.     EXERCISE.  

        (a)   On each Purchase Date during an Offering, each Participant's accumulated Contributions shall be applied to the purchase
of shares of Common Stock up to the maximum number of shares of Common Stock permitted pursuant to the terms of the Plan and the applicable Offering, at the purchase price specified in the Offering.
No fractional shares shall be issued upon the exercise of Purchase Rights unless specifically provided for in the Offering. 

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        (b)   If any amount of accumulated Contributions remains in a Participant's account after the purchase of shares of Common
Stock and such remaining amount is less than the amount required to purchase one share of Common Stock on the final Purchase Date of an Offering, then such remaining amount shall be held in such
Participant's account for the purchase of shares of Common Stock under the next Offering under the Plan, unless such Participant withdraws from such next Offering, as provided in Section 8(b),
or is not eligible to participate in such Offering, as provided in Section 6, in which case such amount shall be distributed to such Participant after the final Purchase Date, without interest.
If the amount of Contributions remaining in a Participant's account after the purchase of shares of Common Stock is at least equal to the amount required to purchase one (1) whole share of
Common Stock on the final Purchase Date of the Offering, then such remaining amount shall be distributed in full to such Participant at the end of the Offering. 

        (c)   No Purchase Rights may be exercised to any extent unless the shares of Common Stock to be issued upon such exercise under
the Plan are covered by an effective registration statement pursuant to the Securities Act and the Plan is in material compliance with all laws applicable to the Plan. If on a Purchase Date during any
Offering hereunder the shares of Common Stock are not so registered or the Plan is not in such compliance, no Purchase Rights or any Offering shall be exercised on such Purchase Date, and the Purchase
Date shall be delayed until the shares of Common Stock are subject to such an effective registration statement and the Plan is in such compliance, except that the Purchase Date shall not be delayed
more than twelve (12) months and the Purchase Date shall in no event be more than twenty-seven (27) months from the Offering Date. If, on the Purchase Date under any Offering hereunder,
as delayed to the maximum extent permissible, the shares of Common Stock are not registered and the Plan is not in such compliance, no Purchase Rights or any Offering shall be exercised and all
Contributions accumulated during the Offering (reduced to the extent, if any, such Contributions have been used to acquire shares of Common Stock) shall be distributed to the Participants. 

10.   COVENANTS OF THE COMPANY.  

        The Company shall seek to obtain from each federal, state, foreign or other regulatory commission or agency having jurisdiction over the Plan such authority as
may be required to issue and sell shares of Common Stock upon exercise of the Purchase Rights. If, after commercially reasonable efforts, the Company is unable to obtain from any such regulatory
commission or agency the authority that counsel
for the Company deems necessary for the lawful issuance and sale of shares of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell shares of
Common Stock upon exercise of such Purchase Rights unless and until such authority is obtained. 

11.   USE OF PROCEEDS FROM SHARES OF COMMON STOCK.  

        Proceeds from the sale of shares of Common Stock pursuant to Purchase Rights shall constitute general funds of the Company. 

12.   RIGHTS AS A STOCKHOLDER.  

        A Participant shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, shares of Common Stock subject to Purchase Rights
unless and until the Participant's shares of Common Stock acquired upon exercise of Purchase Rights are recorded in the books of the Company (or its transfer agent). 

13.   DESIGNATION OF BENEFICIARY.  

        (a)   A Participant may file a written designation of a beneficiary who is to receive any shares of Common Stock and/or
cash, if any, from the Participant's account under the Plan in the event of such 

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Participant's
death subsequent to the end of an Offering but prior to delivery to the Participant of such shares of Common Stock or cash. In addition, a Participant may file a written
designation of a beneficiary who is to receive any cash from the Participant's account under the Plan in the event of such Participant's death during an Offering. Any such designation shall be on a
form provided by or otherwise acceptable to the Company. 

        (b)   The Participant may change such designation of beneficiary at any time by written notice to the Company. In the event of
the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant's death, the Company shall deliver such shares of Common
Stock and/or cash to the executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its
sole discretion, may deliver such shares of Common Stock and/or cash to the spouse or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to
the Company, then to such other person as the Company may designate. 

14.   ADJUSTMENTS UPON CHANGES IN SECURITIES; CORPORATE TRANSACTIONS.  

        (a)   If any change is made in the shares of Common Stock, subject to the Plan, or subject to any Purchase Right, without the
receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, stock split,
liquidating dividend, combination of shares, exchange of shares, change in corporate structure or other transaction not involving the receipt of consideration by the Company), the Plan shall be
appropriately adjusted in the type(s), class(es) and maximum number of shares of Common Stock subject to the Plan pursuant to Section 4(a), and the outstanding Purchase Rights shall be
appropriately adjusted in the type(s), class(es), number of shares and purchase limits of such outstanding Purchase Rights. The Board shall make such adjustments, and its determination shall be final,
binding and conclusive. (The conversion of any convertible securities of the Company shall not be treated as a "transaction not involving the receipt of consideration by the Company.") 

        (b)   In the event of a Corporate Transaction, then: (i) any surviving or acquiring corporation may continue or assume
Purchase Rights outstanding under the Plan or may substitute similar rights (including a right to acquire the same consideration paid to stockholders in the Corporate Transaction) for those
outstanding under the Plan, or (ii) if any surviving or acquiring corporation does not continue or assume such Purchase Rights or does not substitute similar rights for Purchase Rights
outstanding under the Plan, then, the Participants' accumulated Contributions shall be used to purchase shares of Common Stock within ten (10) business days prior to the Corporate Transaction
under the ongoing Offering, and the Participants' Purchase Rights under the ongoing Offering shall terminate immediately after such purchase. 

15.   AMENDMENT OF THE PLAN.  

        (a)   The Board at any time, and from time to time, may amend the Plan. However, except as provided in Section 14
relating to adjustments upon changes in securities and except as to amendments solely to benefit the administration of the Plan, to take account of a change in legislation or to obtain or maintain
favorable tax, exchange control or regulatory treatment for Participants or the Company or any Related Corporation, no amendment shall be effective unless approved by the stockholders of the Company
to the extent stockholder approval is necessary for the Plan to satisfy the requirements of Section 423 of the Code or other applicable laws or regulations. 

        (b)   It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to
provide Employees with the maximum benefits provided or to be 

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provided
under the provisions of the Code and the regulations promulgated thereunder relating to Employee Stock Purchase Plans or to bring the Plan and/or Purchase Rights into compliance therewith. 

        (c)   The rights and obligations under any Purchase Rights granted before amendment of the Plan shall not be impaired by any
amendment of the Plan except: (i) with the consent of the person to whom such Purchase Rights were granted, or (ii) as necessary to comply with any laws or governmental regulations
(including, without limitation, the provisions of the Code and the regulations promulgated thereunder relating to Employee Stock Purchase Plans). 

16.   TERMINATION OR SUSPENSION OF THE PLAN.  

        (a)   The Board in its discretion may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall
terminate at the time that all of the shares of Common Stock reserved for issuance under the Plan, as increased and/or adjusted from time to time, have been issued under the terms of the Plan. No
Purchase Rights may be granted under the Plan while the Plan is suspended or after it is terminated. 

        (b)   Any benefits, privileges, entitlements and obligations under any Purchase Rights while the Plan is in effect shall not be
impaired by suspension or termination of the Plan except (i) as expressly provided in the Plan or with the consent of the person to whom such Purchase Rights were granted, (ii) as
necessary to comply with any laws, regulations, or listing requirements, or (iii) as necessary to ensure that the Plan and/or Purchase Rights comply with the requirements of Section 423
of the Code. 

17.   EFFECTIVE DATE OF PLAN.  

        The Plan shall become effective as determined by the Board, but no Purchase Rights shall be exercised unless and until the Plan has been approved by the
stockholders of the Company within twelve (12) months before or after the date the Plan is adopted by the Board. 

18.   MISCELLANEOUS PROVISIONS.  

        (a)   The Plan and Offering do not constitute an employment contract. Nothing in the Plan or in the Offering shall in any way
alter the at will nature of a Participant's employment or be deemed to create in any way whatsoever any obligation on the part of any Participant to continue in the employ of the Company or a Related
Corporation, or on the part of the Company or a Related Corporation to continue the employment of a Participant. 

        (b)   The provisions of the Plan shall be governed by the laws of the State of Delaware without resort to that state's
conflicts of laws rules. 

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QuickLinks

Exhibit 10.3

CORGENTECH INC. 2003 EMPLOYEE STOCK PURCHASE PLAN ADOPTED DECEMBER 5, 2003 APPROVED BY STOCKHOLDERS JANUARY , 2004QuickLinks
 -- Click here to rapidly navigate through this document

  

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission
pursuant to Rule 406 of the Securities Act of 1933, as amended.

 
 

Exhibit 10.8    
    

RESTATED AND AMENDED

EXCLUSIVE LICENSE AGREEMENT  

        Effective as of January 1, 1999 ("Effective Date"), THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY, a body having corporate powers under
the laws of the State of California ("STANFORD") and Corgentech Inc., a Delaware corporation have a primary place of business at Suite 460, 601 Gateway Boulevard, South San Francisco,
California 94080, ("LICENSEE"), agree as follows: 

	1.
	BACKGROUND

	1.1
	STANFORD
has an assignment of "Pressurized Nucleotide Delivery Device," from the laboratory of Dr. Victor Dzau ("Invention[s]"), as described in
Stanford Docket S95-022, and any Licensed Patent(s), as hereinafter defined, which may issue to such Invention(s).

	1.2
	STANFORD
desires to have the Invention(s) perfected and marketed at the earliest possible time in order that products resulting therefrom may be available for public use and benefit.

	1.3
	LICENSEE
desires a license under said Invention(s), and Licensed Patent(s) to develop, manufacture, use, and sell Licensed Product(s) in the field of use of all therapeutic and
preventative applications.

	2.
	DEFINITIONS

	2.1
	"Licensed
Patent(s)" means U.S. Patent Number 5,766,901 issued June 15, 1998; any divisions, continuations or continuations-in-part of the application
from which the foregoing patent issued (except that continuations-in-part shall be included only to the extent they claim subject matter disclosed in the application from which
the foregoing patent issued); any patents issuing from the foregoing applications; any extensions, reexaminations or reissues of such patents; and all foreign equivalents of the foregoing patent
applications and patents.

	2.2
	"License
Product(s)" means any product or part thereof in the Licensed Field of Use, the manufacture, use, or sale of which:

	(a)
	Is
covered by a valid claim of an issued, unexpired Licensed Patent(s) directed to the Invention(s). A claim of an issued, unexpired Licensed Patent(s) shall be presumed
to be valid unless and until it has been held to be invalid by a final judgment of a court of competent jurisdiction from which no appeal can be or is taken; or

	(b)
	Is
covered by any claim being prosecuted in a pending application directed to the Invention(s).

	2.3
	"Net
Sales" means the gross revenue derived by LICENSEE and/or sublicensee(s) from Licensed Product(s), whether or not assembled (and without excluding therefrom any components or
subassemblies thereof, whatever their origin and whether or not patent impacted), less the following items but only insofar as they actually pertain to the disposition 

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of
such Licensed Product(s) by LICENSEE or sublicensee(s), are included in such gross revenue, and are separately billed: 

	(a)
	Import,
export, excise and sales taxes, and custom duties;

	(b)
	Costs
of insurance, packing, and transportation from the place of manufacture to the customer's premises or point of installation;

	(c)
	Costs
of installation at the place of use;

	(d)
	Credit
for returns, allowances, or trades;

	(e)
	Trade
and quantity discounts actually allowed and taken in such amounts as are customary in the trade; and

	(f)
	Rebates
or discounts actually paid to, credited to or mandated by any governmental agency (or branch thereof) or any third party payor.

	2.4
	"Licensed
Field of Use" means all therapeutic, diagnostic, and prophylactic applications.

	2.5
	"Licensed
Territory" means worldwide.

	2.6
	"Exclusive"
means that, subject to Article 4, STANFORD shall not grant further licenses in the Licensed Territory in the Licensed Field of Use.

	3.
	GRANT

	3.1
	STANFORD
hereby grants and LICENSEE hereby accepts a license in the Licensed Field of Use to make, have made, use, sell, offer for sale and import Licensed Product(s) in the Licensed
Territory.

	3.2
	Said
license is Exclusive, including the right to sublicense pursuant to Article 13, in the Licensed Field of Use for a term commencing as of January 1, 1999 and ending
upon the expiration of the last to expire of Licensed Patent(s).

	3.3
	STANFORD
shall have the right to practice the Invention(s) for its own bona fide research, including sponsored research and collaborations. STANFORD shall have the right to publish
any information included in Licensed Patent(s).

	4.
	GOVERNMENT RIGHTS

	

	This
Agreement is subject to all of the terms and conditions of Title 35 United States Code Sections 200 through 204, including an obligation that Licensed
Product(s) sold or produced in the United States be "manufactured substantially in the United States," and LICENSEE agrees to take all reasonable action necessary on its part as licensee to enable
STANFORD to satisfy its obligation thereunder, relating to Invention(s).

	
5.
	DILIGENCE

	5.1
	As
an inducement to STANFORD to enter into this Agreement, LICENSEE agrees to use all reasonable efforts and diligence to proceed with the development, manufacture, and sale or lease
of Licensed Product(s) and to diligently develop markets for the Licensed Product(s). Unless LICENSEE has initiated Phase III Clinical Trials prior to June 1, 2002, LICENSEE agrees that
STANFORD may terminate this Agreement. STANFORD may terminate this Agreement if LICENSEE or a sublicensee(s) has not sold Licensed Product(s) for any period of one (1) year after initial sale
of Licensed Product(s).

	5.2
	Progress Report—On or before September 1 of each year until LICENSEE markets a Licensed Product(s), LICENSEE shall
make a written annual report to STANFORD covering the preceding year ending June 30, regarding the progress of LICENSEE toward 

2

 

commercial
use of Licensed Product(s). Such report shall include, as a minimum, information sufficient to enable STANFORD to satisfy reporting requirements of the U.S. Government and for STANFORD to
ascertain progress by LICENSEE toward meeting the diligence requirements of the Article 5. 

	6.
	ROYALTIES

	6.1
	LICENSEE
agrees to pay to STANFORD a noncreditable, nonrefundable license issue royalty of Fifty Thousand Dollars ($50,000) plus Three Percent (3%) equity upon signing this Agreement.
In addition, LICENSEE agrees to pay to STANFORD thirty-five thousand (35,000) shares of Common Stock in Corgentech Inc. upon signing of Amendment #1 to this Agreement.

	6.2
	Beginning
January 1, 2001, and each January 1 thereafter, LICENSEE also shall pay to STANFORD a yearly royalty of Twenty Thousand Dollars ($20,000). Said yearly royalty
payments are nonrefundable, but they are creditable against earned royalties to the extent provided in Paragraph 6.5.

	6.3
	In
addition, LICENSEE shall pay STANFORD earned royalties on Net Sales, subject to Paragraph 13.5(b), as follows:

	(a)
	[*] or

	(b)
	[*] subject to [*]

	

	For
clarity, Net Sales in a territory of Licensed Products that consist only of a device approved to deliver only therapeutic compounds that are sold by or
on behalf of LICENSEE, its Affiliates or sublicensees (for example, such situation may arise because laws, rules or regulations in such territory prohibit the sale of the kit containing such a device
with such a therapeutic compound that LICENSEE anticipates selling as of the Amendment Effective Date), then such Net Sales in such territory shall be subject to subsection (b) above. Earned
royalties for diagnostic Licensed Products will be negotiated prior to the first sale of a diagnostic Licensed Product.

	6.4
	In
addition, LICENSEE agrees to pay STANFORD the following milestone payments:

	

	If
Phase III Clinical Trials of the Invention(s) are initiated:

	a)
	Prior
to or on December 31, 2000,

	

	then
a $25,000 milestone payment is due; or

	b)
	Subsequent
to December 31, 2000,

	

	then
a $50,000 milestone payment is due; and

	

	$150,000
is due upon receipt of FDA approval

	

	The
above milestone payments shall be made to STANFORD within sixty (60) days after the initiation of the Clinical Trials or receipt of FDA approval,
as appropriate.

	6.5
	Creditable
payments under this Agreement shall be an offset to LICENSEE against up to [*] of each earned
royalty payment which LICENSEE would be required to pay pursuant to Paragraph 6.3 until the entire credit is exhausted.

	6.6
	If
this Agreement is not terminated in accordance with other provisions hereof, LICENSEE shall be obligated to pay royalties hereunder until the latter of:

	(a)
	Seven
years, if no Licensed Patent(s) issues; or 

3

 

	(b)
	For
so long as LICENSEE, by its activities would, but for the license granted herein, infringe a valid claim of an unexpired Licensed Patent(s) of STANFORD covering said
activity. LICENSEE shall be obligated to pay royalties on all Licensed Product(s) that are either sold or produced under the license granted in Article 3, regardless of whether such Licensed
Product(s) are produced prior to the Effective Date of this Agreement or sold after the expiration of the Licensed Patent(s).

	6.7
	The
royalty on sales in currencies other than U.S. Dollars shall be calculated using the appropriate foreign exchange rate for such currency quoted by the Bank of America (San
Francisco) foreign exchange desk, on the close of business on the last banking day of each calendar quarter. Royalty payments to STANFORD shall be in U.S. Dollars. All non-U.S. taxes
related to royalty payments shall be paid by LICENSEE and are not deductible from the payments due STANFORD.

	6.8
	Within
thirty (30) days after receipt of a statement from STANFORD, LICENSEE shall reimburse STANFORD for all costs incurred by STANFORD in connection with the preparation,
filing and prosecution of all patent applications and maintenance of patents corresponding to the Invention(s) after the Effective Date.

	6.9
	Subject
to Paragraph 6.8, as applicable, LICENSEE may select patent counsel reasonably acceptable to STANFORD to prosecute and maintain Licensed Patents for the benefit of
STANFORD. STANFORD and LICENSEE shall be copied simultaneously by the patent counsel on all patent prosecution or maintenance correspondence that concerns Licensed Patents. LICENSEE shall direct such
prosecution and STANFORD will have the opportunity to comment prior to any prosecution or maintenance action involving Licensed Patents. If LICENSEE proposes to abandon any Licensed Patent, or any
claim of a Licensed Patent, without the possibility of pursuing the subject matter of the abandoned claim at a later time, it shall first provide thirty (30) days advance written notice of such
intent to STANFORD and, if requested, shall meet with officials of STANFORD within ten (10) days of such notice to discuss the rationale for proposing to abandon the Licensed Patent or claim.
If the parties agree that such Licensed Patent or claim should be abandoned, the matter shall be deemed resolved. If the parties do not agree that such Licensed patent or claim should be abandoned,
then LICENSEE shall either: (1) continue to prosecute the patent application or patent claim, or maintain the patent at issue; or (2) request STANFORD to assume responsibility for
prosecution of such patent application, patent claim in a divisional application or maintenance of such patent and LICENSEE shall lose rights in the abandoned Licensed Patent or claim, as the case may
be.

	7.
	ROYALTY REPORTS, PAYMENTS, AND ACCOUNTING

	7.1
	Quarterly Earned Royalty Payment and Report—Beginning with the first sale of a Licensed Product(s), LICENSEE shall make
written reports (even if there are no sales) and earned royalty payments to STANFORD within thirty (30) days after the end of each calendar quarter. This report shall state the number,
description, and aggregate Net Sales of Licensed Product(s) during such completed calendar quarter, and resulting calculation pursuant to Paragraph 6.3 of earned royalty payment due STANFORD
for such completed calendar quarter. Concurrent with the making of each such report, LICENSEE shall include payment due STANFORD of royalties for the calendar quarter covered by such report.

	7.2
	LICENSEE
also agrees to make a written report to STANFORD within ninety (90) days after the expiration of the license pursuant to Section 3.2. LICENSEE shall continue to
make reports pursuant to the provisions of this Section 7.2 concerning royalties payable in accordance with Article 6 in connection with the sale of Licensed Product(s) after expiration
of the license, until such time as all such Licensed Product(s) produced under the license 

4

 

have
been sold or destroyed. Concurrent with the submittal of each post-termination report, LICENSEE shall pay STANFORD all applicable royalties. 

	7.3
	Accounting—LICENSEE agrees to keep and maintain records for a period of three (3) years showing the manufacture,
sale, use, and other disposition of products sold or otherwise disposed of under the license herein granted. Such records will include general ledger records showing cash receipts and expenses, and
records which include production records, customer, serial numbers, and related information in sufficient detail to enable the royalties payable hereunder by LICENSEE to be determined. LICENSEE
further agrees to permit its books and records to be examined by STANFORD from time to time to the extent necessary to verify reports provided for in Paragraphs 7.1 and 7.2. Such examination is to be
made by STANFORD or its designee, at the expense of STANFORD, except in the event that the results of the audit reveal an underreporting of royalties due STANFORD of five percent (5%) or more, then
the audit costs shall be paid by LICENSEE.

	8.
	NEGATION OF WARRANTIES

	8.1
	Nothing
in this Agreement is or shall be construed as:

	(a)
	A
warranty or representation by STANFORD as to the validity or scope of any Licensed Patent(s);

	(b)
	A
warranty or representation that anything made, used, sold, or otherwise disposed of under any license granted in this Agreement is or will be free from infringement of
patents, copyrights, and other rights of third parties;

	(c)
	An
obligation to bring or prosecute actions or suits against third parties for infringement, except to the extent and in the circumstances described in
Article 12; or

	(d)
	Granting
by implication, estoppel, or otherwise any licenses or rights under patents or other rights of STANFORD or other persons other than Licensed Patent(s),
regardless of whether such patents or other rights are dominant or subordinate to any Licensed Patent(s).

	8.2
	Except
as expressly set forth in this Agreement, STANFORD MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. THERE ARE NO EXPRESS OR IMPLIED
WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR THAT THE USE OF THE LICENSED PRODUCT(S) WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK, OR OTHER RIGHTS OR ANY OTHER EXPRESS
OR IMPLIED WARRANTIES.

	9.
	INDEMNITY

	9.1
	LICENSEE
agrees to indemnify, hold harmless, and defend STANFORD, UCSF-Stanford Health Care and Stanford Health Services and their respective trustees, officers,
employees, students, and agents against any and all claims for death, illness, personal injury, property damage, and improper business practices arising out of the manufacture, use, sale, or other
disposition of Invention(s), Licensed Patent(s), or Licensed Product(s), by LICENSEE or sublicensee(s), or their customers.

	9.2
	STANFORD
shall not be liable for any indirect, special, consequential or other damages whatsoever, whether grounded in tort (including negligence), strict liability, contract or
otherwise. STANFORD shall not have any responsibilities or liabilities whatsoever with respect to Licensed Product(s). 

5

 

	9.3
	LICENSEE
shall at all times comply, through insurance or self-insurance, with all statutory workers' compensation and employers' liability requirements covering any and
all employees with respect to activities performed under this Agreement.

	9.4
	In
addition to the foregoing, LICENSEE shall maintain, during the term of this Agreement, Comprehensive General Liability Insurance, including Products Liability Insurance, with
reputable and financially secure insurance carrier(s) to cover the activities of LICENSEE and its sublicensee(s). Such insurance shall provide minimum limits of liability of $5 Million and shall
include STANFORD, UCSF-Stanford Health Care, Stanford Health Services, their trustees, directors, officers, employees, students, and agents as additional insureds. Such insurance shall be
written to cover claims incurred, discovered, manifested, or made during or after the expiration of this Agreement and should be placed with carriers with ratings of at least A- as rated
by A.M. Best. Within 15 days of the Effective Date of this Agreement, LICENSEE shall furnish a Certificate of Insurance evidencing primary coverage and additional insured requirements
and requiring thirty (30) days prior written notice of cancellation or material change to STANFORD. LICENSEE shall advise STANFORD, in writing, that it maintains excess liability coverage
(following form) over primary insurance for at least the minimum limits set forth above. All such insurance of LICENSEE shall be primary coverage; insurance of STANFORD, UCSF-Stanford
Health Care, and Stanford Health Services shall be excess and noncontributory.

	10.
	MARKING

	

	Prior
to the issuance of patents on the Invention(s), LICENSEE agrees to mark Licensed Products (or their containers or labels) made, sold, or otherwise
disposed of by it under the license granted in this Agreement with the words "Patent Pending," and following the issuance of one or more patents, with the numbers of the Licensed Patent(s).

	11.
	STANFORD NAMES AND MARKS

	

	LICENSEE
agrees not to identify STANFORD in any promotional advertising or other promotional materials to be disseminated to the public or any portion
thereof or to use the name of any STANFORD faculty member, employee, or student or any trademark, service mark, trade name, or symbol of STANFORD, Stanford Health Services or UCSF-Stanford
Health Care, or that is associated with any of them, without STANFORD's prior written consent.

	12.
	INFRINGEMENT BY OTHERS: PROTECTION OF PATENTS

	12.1
	LICENSEE
shall promptly inform STANFORD of any suspected infringement of any Licensed Patent(s) by a third party. During the Exclusive period of this Agreement, STANFORD and LICENSEE
each shall have the right to institute an action for infringement of the Licensed Patent(s) against such third party in accordance with the following:

	(a)
	If
STANFORD and LICENSEE agree to institute suit jointly, the suit shall be brought in both their names, the out-of-pocket costs thereof shall be
borne [*], and any recovery or settlement shall be shared  [*]. LICENSEE and STANFORD shall agree to the manner in which they shall
exercise control over such action. STANFORD may, if it so desires, also be represented by separate counsel of its own selection, the fees for which counsel shall be paid by STANFORD;

	(b)
	In
the absence of agreement to institute a suit jointly, STANFORD may institute suit, and, at its option, join LICENSEE as a plaintiff. If STANFORD decides to institute
suit, then it shall notify LICENSEE in writing. LICENSEE's failure to notify STANFORD in writing, within 

6

 

fifteen
(15) days after the date of the notice, that it will join in enforcing the patent pursuant to the provisions hereof, shall be and be deemed conclusively to be LICENSEE's assignment to
STANFORD of all rights, causes of action, and damages resulting from any such alleged infringement. STANFORD shall bear the entire cost of such litigation and shall be entitled to retain  [*] of any
recovery or settlement; and 

	(c)
	In
the absence of agreement to institute a suit jointly and if [*] notifies  [*] that it has decided not to join in or institute a suit, as provided in
(a) or (b) above,  [*] may institute suit. [*] shall bear
[*] of such litigation, including expenses incurred by  [*]. Any recovery in excess of litigation costs will be shared with  [*]
 as follows:

	1.
	Any
payment [*] will be  [*] and;

	2.
	Any
payment which [*] will be  [*].

	

	LICENSEE
and STANFORD agree to negotiate in good faith an appropriate  [*] for any non-cash settlement or non-cash cross-license.  [*] will not share in the portion
of the recovery, if any, that is payment for "willful infringement."

	12.2
	Should
either STANFORD or LICENSEE commence a suit under the provisions of Paragraph 12.1 and thereafter elect to abandon the same, it shall give timely notice to the other
party who may, if it so desires, continue prosecution of such suit, provided, however, that the sharing of expenses and any recovery in such suit shall be as agreed upon between STANFORD and LICENSEE.

	13.
	SUBLICENSEE(S)

	13.1
	LICENSEE
may grant sublicense(s) during the Exclusive period.

	13.2
	If
LICENSEE is unable or unwilling to serve or develop a potential market or market territory for which there is a willing sublicensee(s), LICENSEE will, at STANFORD's request,
negotiate in good faith a sublicense(s) hereunder.

	13.3
	Any
sublicense(s) granted by LICENSEE under this Agreement shall be subject and subordinate to terms and conditions of this Agreement, except:

	(a)
	Sublicense
terms and conditions shall reflect that any sublicensee(s) may grant sublicenses, [*];
and

	(b)
	The
earned royalty rate specified in the suclicense(s) may be at higher rates than the rates in this Agreement.

	

	Any
such sublicense(s) also shall expressly include the provisions of Articles 7, 8, and 9 for the benefit of STANFORD and provide for the transfer of all
obligations, including the payment of royalties specified in such sublicense(s), to STANFORD or its designee, in the event that this Agreement is terminated.

	13.4
	LICENSEE
agrees to provide STANFORD a copy of any sublicense granted pursuant to this Article 13.

	13.5
	(a)    LICENSEE
shall pay to STANFORD—

	1.
	[*] of Sublicensee Revenues received by LICENSEE from a Third Party in consideration for the grant
of a sublicense under such rights if such Licensed Product has not yet completed a Phase III trial at the time that the sublicense is granted; or

	2.
	[*] of Sublicensee Revenues received by LICENSEE from a Third Party in consideration for the grant
of a sublicense under such rights if such Licensed Product has completed a Phase III trial at the time that the sublicense is granted; 

7

 

	

	less
milestones payable under Paragraph 6.4.

	(b)
	Notwithstanding
Paragraph 6.3, if LICENSEE grants a sublicense to Licensed Product and receives Sublicense Revenues in consideration of such sublicense, then
LICENSEE shall pay to STANFORD an earned royalty on Net Sales equal to [*] of
Net Sales by LICENSEE and its sublicensees in such sublicense territory.

	(c)
	Subject
to Paragraph 13.5(b), Sublicensee Revenues shall mean the following payments received by LICENSEE from a Sublicensee in connection with a Sublicense and
the Licensed Products for which such Sublicense is granted all: (i) up front payments in cash; and (ii) research, development or regulatory milestone payments. It shall not include
sharing of, or reimbursement for, clinical, registration, commercialization or manufacturing costs.

	13.6
	LICENSEE
may grant royalty-free or non-cash sublicenses or cross-licenses provided LICENSEE pays all royalties due STANFORD from sublicensee's Net Sales.

	13.7
	The
parties acknowledge that LICENSEE will develop or require access to technologies other than the Licensed Patents to develop and commercialize Licensed Products, and that it will
receive payments from its sublicensees in consideration both for the grant of a sublicense under this Agreement as well as the grant to such sublicensee of other licenses, sublicenses and similar
rights by LICENSEE. Accordingly, LICENSEE shall have the right, in calculating amounts due to STANFORD under Paragraphs 6.3 and 13.5, to determine in good faith which portion of Net Sales and
Sublicense Revenues is attributable to technology covered by the Licensed Patents, and which portion is attributable to other technologies contributing to products sold. In applying the foregoing, the
parties agree that as of the April 23, 2003, that E2F decoy product is covered primarily by intellectual property rights licensed from each of STANFORD hereunder and the Brigham and Women's
Hospital, Inc. ("BWH") pursuant to an agreement between LICENSEE and BWH dated January 1, 1999 (as amended and restated), and that for such product consisting of the compound designated
"E2F decoy" and a pressurized nucleotide delivery device substantially similar to that existing as of April 23, 2003, but that contains no other material component, LICENSEE shall designate  [*] of
the Net Sales and [*] of the Sublicense Revenues
of such product by LICENSEE or sublicensees as attributable to Licensed Patents licensed under this Agreement, absent a basis for an alternative apportionment.

	14.
	TERMINATION

	14.1
	LICENSEE
may terminate this Agreement by giving STANFORD notice in writing at least thirty (30) days in advance of the effective date of termination selected by LICENSEE.

	14.2
	STANFORD
may terminate this Agreement if LICENSEE:

	(a)
	Is
in default in payment of royalty or providing of reports;

	(b)
	Is
in breach of any provision hereof; or

	(c)
	Provides
any false report;

	

	and
LICENSEE fails to remedy any such default, breach, or false report within thirty (30) days after written notice thereof by STANFORD.

	14.3
	Surviving
any termination or expiration are:

	(a)
	LICENSEE's
obligation to pay royalties accrued or accruable;

	(b)
	Any
cause of action or claim of LICENSEE or STANFORD, accrued or to accrue, because of any breach or default by the other party; and 

8

 

	(c)
	The
provisions of Section 6.6(b), Articles 7, 8, and 9 and any other provisions that by their nature are intended to survive.

	15.
	ASSIGNMENT

	

	This
Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective successors and assigns;  provided, however, that
LICENSEE may assign any of its rights, duties or obligations hereunder with the
prior written consent of STANFORD, which consent may not be unreasonably withheld, except that no prior written consent shall be required in the event that a Third Party acquires substantially all of
the assets or outstanding shares of, or merges with, LICENSEE. LICENSEE shall provide notice of such acquisition or merger to STANFORD at least thirty (30) days prior to such event. No
assignment of this Agreement or of any rights hereunder shall relieve LICENSEE of any of its obligations or liability hereunder.

	16.
	ARBITRATION

	16.1
	Any
controversy arising under or related to this Agreement, and any disputed claim by either party against the other under this Agreement excluding any dispute relating to patent
validity or infringement arising under this Agreement, shall be settled by arbitration in accordance with the Licensing Agreement Arbitration Rules of the American Arbitration Association.

	16.2
	Upon
request by either party, arbitration will be by a third party arbitrator mutually agreed upon in writing by LICENSEE and STANFORD within thirty (30) days of such
arbitration request. Judgment upon the award rendered by the arbitrator shall be final and nonappealable and may be entered in any court having jurisdiction thereof.

	16.3
	The
parties shall be entitled to discovery in like manner as if the arbitration were a civil suit in the California Superior Court. The Arbitrator may limit the scope, time and/or
issues involved in discovery.

	16.4
	Any
arbitration shall be held at Stanford, California, unless the parties hereto mutually agree in writing to another place. 

9

 

	17.
	NOTICES

	

	All
notices under this Agreement shall be deemed to have been fully given when done in writing and deposited in the United States mail, registered or
certified, and addressed as follows: 

	To STANFORD:	 	Office of Technology Licensing

Stanford University

1705 El Camino Real

Palo Alto, CA 94306-1106

Attention: Director
	

To LICENSEE:	
 	

Corgentech Inc.

Suite 460, 610 Gateway Boulevard

South San Francisco, California 94080

Attention: President

 

	

	Either
party may change
its address upon written notice to the other party.

	18.
	WAIVER

	

	None
of the terms of
this Agreement can be waived except by the written consent of the
party waiving compliance.

	19.
	APPLICABLE
LAW

	

	This
Agreement shall be
governed by the laws of the State of California applicable to
agreements negotiated, executed and performed wholly within
California.  

        IN
WITNESS WHEREOF, the parties hereto have executed
this Agreement in duplicate originals by their duly authorized
officers or representatives.   

	THE BOARD OF TRUSTEE OF THE LELAND STANFORD JUNIOR UNIVERSITY
	

Signature	
 	

/s/  KATHARINE KU      

	Name	 	Katharine Ku

	Title	 	Director Technology Licensing

	Date	 	May 15, 2003

	

LICENSEE
	

Signature	
 	

/s/  JOHN P. MCLAUGHLIN      

	Name	 	John P. McLaughlin

	Title	 	CEO

	Date	 	5/13/03

10

 

[*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission
pursuant to Rule 406 of the Securities Act of 1933, as amended.

11

QuickLinks

Exhibit 10.8

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