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Exhibit 10.17    
    

TERMINATION OF PREEMPTIVE RIGHTS

AND REGISTRATION RIGHTS AGREEMENT  

        This TERMINATION OF PREEMPTIVE RIGHTS AND REGISTRATION RIGHTS AGREEMENT (the "Termination
Agreement") is entered into as of May 17, 2002, by and between CORGENTECH INC., a Delaware corporation (the
"Company") and John McLaughlin (the "Executive"). 

        WHEREAS, the Company and the Executive are parties to that certain Employment Offer Letter including the term sheet attached thereto,
dated November 29, 1999 (the "Offer Letter") attached hereto as EXHIBIT A; 

        WHEREAS, pursuant to the terms of the Offer Letter, the Company granted to Executive: (i) certain preemptive rights to invest in
all subsequent financings by the Company and on the same terms and conditions as other stockholders and new investors (the "Preemptive Rights");
(ii) the right to participate in registration rights (the "Registration Rights") and (iii) certain other rights described in the Offer
Letter; and 

        WHEREAS, in connection with the Company's pending sale of shares of its Series C Preferred Stock to certain investors, the parties
desire to enter into this Agreement to terminate Executive's Preemptive Rights and Registration Rights. 

        NOW, THEREFORE, in consideration of these premises and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree hereto as follows: 

AGREEMENT  

	1.
	Executive's
Preemptive Rights and Registration Rights are hereby terminated, discharged, null and void, and the terms, covenants and conditions contained in the Offer Letter pertaining
to such rights shall have no further force or effect. Executive represents that, upon such termination of the Preemptive Rights and Registration Rights, he has no other preemptive, registration or
similar rights with respect to any of the Company's capital stock.

	2.
	Executive
hereby agrees to take such further actions and execute such additional documents that the Company deems necessary or appropriate to carry out the purposes of this Termination
Agreement.

	3.
	This
Termination Agreement contains the entire agreement of the parties with respect to the subject matter hereof, superceding any and all prior written or oral agreements.

	4.
	This
Termination Agreement may not be waived, amended or modified without the prior mutual written consent of the parties.

	5.
	In
the event that any provision hereof is found invalid or unenforceable, the remaining provisions shall remain valid and enforceable to the fullest extent permitted by law.

	6.
	This
Agreement shall be governed by and construed in accordance with the internal laws of the State of California without resort to the conflict of laws.

	7.
	This
Termination Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but such counterparts shall together constitute one and the same
instrument. 

        [Remainder of this page is intentionally left blank]

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        IN WITNESS WHEREOF, the undersigned have executed this TERMINATION OF PREEMPTIVE RIGHTS AND REGISTRATION RIGHTS
AGREEMENT as of the date set first set forth above. 

	CORGENTECH INC.	 	 
	

/s/  RICHARD POWERS      
 Richard Powers

Vice President and Chief Financial Officer	
 	

 
	
EXECUTIVE:	
 	

 
	

/s/  JOHN MCLAUGHLIN      
 John McLaughlin	
 	

 

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Exhibit 10.18    
    

  

601 Gateway Boulevard

Suite 460

South San Francisco, California 94080

Phone: 650-624-1690

Fax: 650-624-7540  

	Ms. Leslie McEvoy, Ph.D.

c/o Corgentech Inc.	 	August 18, 2000

Dear
Leslie: 

        It
is with great pleasure that I invite you to join the Corgentech team. We are building an exciting, new company dedicated to the discovery, development and commercialization of novel
therapies for cardiovascular diseases and other significant health conditions. As you know, our most advanced product is in clinical development and is projected to be approved for marketing in 2004.
If successful, this product will alleviate a major cardiovascular health risk and thereby generate revenues in excess of
a billion dollars on a worldwide basis. We also have various research stage projects and intend to expand our research capabilities. 

        The
most important component of any successful company is its people. To accomplish successfully our goals, we are assembling a world-class team to support our research and development
efforts. Your position at Corgentech would be Senior Director of Research reporting to the President & CEO. We would request that commence your employment at Corgentech by
mid-October 2000. Your duties would be to manage the Research projects of the Company and build its Research organization. Specifically, your duties include: 

	•
	Management
and implementation of the current induced Angiogenesis program 
	•
	Development
of the Company's Pressure Technology 
	•
	Identification
and implementation of a novel research stage program addressing a significant unmet medical need 
	•
	Developing
a five year Research plan for the Company with budgetary and staffing requirement 

        There
is substantial opportunity for growth within Corgentech depending on your capabilities. Not later than 18 months after your hire date, the Board of Directors will consider
you for the position of Vice President of Research. Promotion to this position will depend on: (1) satisfactory discharge of your duties as enumerated above; and (2) advancement of one
Corgentech research stage project (other than the Induced Angiogenesis project) to a point where there is a compelling biological rationale, such as proof of principle in a relevant animal model, to
support its preclinical development. We recognize that good research is not always amenable to a strict timetable. Further, there may be other factors that are beyond your control, such as the
availability of adequate lab space, staffing, etc. which would limit anyone's ability to meet the criteria set forth in #2 above. Please be assured that all circumstances will be considered in
evaluating your performance regarding criteria #2 above. 

        There
are five components to your compensation package for this position: 

	•
	First,
the base salary is $140,000 per year. 
	•
	Second,
the Board of Directors has authorized the grant of a stock option to purchase 185,000 shares of Common Stock in Corgentech Inc. exercisable at $0.06 per
share. This stock option vests over four years with 25% of the grant vesting on your first anniversary date and the remainder of the option vesting in years two through four at a monthly rate of
1/48 of the total amount of the grant. You will also be eligible for additional stock grants as part of your annual review of compensation. In the event of acquisition or merger of the
Company, the vesting of the unvested portion of your shares under option will be accelerated and be immediately exercisable. 

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	•
	Third,
the Company will provide a loan to you in the amount of the total exercise price of the shares under option. Such loan must be exercised within four years of your
hire date. The loan is forgivable over three years in increments of one-third per year of employment. Shares will be restricted if they are purchased before the underlying option has
vested until such time as the option vests. You should consult with your financial advisor regarding the potential tax advantages of an early exercise of your stock option. 
	•
	Fourth,
the Company will provide a loan to you in the amount of $75,000 for a period of three years. With continued service at Corgentech, 50% of this loan will be forgiven
over three years in increments of $12,500 per year. The remaining 50% of the loan in the amount of $37,500 will be due on the fourth anniversary of your employment with Corgentech unless:
(1) Corgentech has not been a public company for at least a year at that time, in which case the term of the loan is automatically extended in increments of one year until such time as
Corgentech has been a public company for at least one year prior to the time for repayment; or (2) Corgentech extends the term of the loan notwithstanding. 
	•
	Fifth,
the Company provides full benefits under its healthcare plans including health, life, vision and dental benefits. Our benefits administrator, StaffAdmin
Systems, Inc., will provide additional details on the benefits package. You will be entitled to four weeks vacation per year. The Company recognizes the importance of, and will support your
attendance at, a reasonable number of professional conferences each year as well as membership in professional organizations. 

        This
offer is contingent upon closure of our B round of financing, which we expect to occur shortly. Before the commencement of employment, we would request that you sign a
confidentiality agreement and a proprietary inventions agreement. Copies of those agreements will be provided to you separately. We hope that you will agree to join Corgentech as we build an
organization dedicated to improving patient health by addressing unmet medical needs, and providing substantial value for our shareholders and co-workers. Please indicate your acceptance
by signing below. Welcome to Corgentech! 

Sincerely,

	/s/  JOHN P. MCLAUGHLIN      
 John P. McLaughlin

President & CEO	 	/s/  LESLIE MCEVOY      
 Leslie McEvoy

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Exhibit 10.19    
    

RECOURSE PROMISSORY NOTE  

	$75,000.00	 	Palo Alto, California

June 28, 2001

        FOR VALUE RECEIVED, the undersigned hereby unconditionally promises to pay to the order of  CORGENTECH INC., a Delaware corporation (the "Company"), at 1651 Page
Mill Road, Palo Alto, CA 94304-1209, or at such other place as
the holder hereof may designate in writing, in lawful money of the United States of America and in immediately available funds, the principal sum of seventy-five thousand dollars
($75,000.00) together with interest accrued from the date hereof on the unpaid principal at the rate of [7.75]% (Prime
rate + 1%) per annum, or the maximum rate permissible by law (which under the laws of the State of California shall be deemed to be the laws relating to permissible rates of interest on
commercial loans), whichever is less, as follows: 

         Principal Repayment.    The outstanding principal amount hereunder shall be payable subject to scheduled
repayments on the dates
and in the amounts listed below. 

	Principal Repayment Dates	 	Repayment Amounts; and
	June 28, 2002	 	$12,500.00
	June 28, 2003	 	$12,500.00
	June 28, 2004	 	$12,500.00
	November 13, 2004	 	$37,500.00

         Interest Payments.    Interest shall be compounded annually and shall be payable on each Principal Repayment
Date and shall be
calculated on the basis of a 360-day year for the actual number of days elapsed; 

provided, however, that: (1) in the event that the undersigned's employment by or association with the Company or its affiliate is terminated for
any reason prior to payment in full of this Note, this Note shall be accelerated and all remaining unpaid principal and interest shall become due and payable immediately after such termination;
(2) the outstanding principal and interest due and payable on November 13, 2004 shall not be due until such time as the Company has been a public company for at least one year prior to
the time for such repayment unless the Company otherwise extends the term of the loan. 

        If
the undersigned fails to pay any of the principal and accrued interest when due, the Company, at its sole option, shall have the right to accelerate this Note, in which event the
entire principal balance and all accrued interest shall become immediately due and payable and immediately collectible by the Company pursuant to applicable law. 

        This
Note may be prepaid at any time without penalty. All money paid toward the satisfaction of this Note shall be applied first to the payment of interest as required hereunder and then
to the retirement of the principal. 

        This
Note is a full recourse promissory note. In addition, the full amount of this Note shall be secured by a pledge of all shares of Common Stock of the Company acquired by the
undersigned and shall be subject to all of the terms and provisions of any Early Exercise Stock Purchase Agreement and Stock Pledge Agreement between the undersigned and the Company. 

        The
undersigned hereby represents and agrees that the amounts due under this Note are not consumer debt and are not incurred primarily for personal, family or household purposes, but are
for business and commercial purposes only. 

 

        The
undersigned hereby waives presentment, protest and notice of protest, demand for payment, notice of dishonor and all other notices or demands in connection with the delivery,
acceptance, performance, default or endorsement of this Note. 

        The
holder hereof shall be entitled to recover, and the undersigned agrees to pay when incurred, all costs and expenses of collection of this Note, including without limitation,
reasonable attorneys' fees. 

        This
Note shall be governed by, and construed, enforced and interpreted in accordance with, the laws of the State of California, excluding conflict of laws principles that would cause
the application of laws of any other jurisdiction. 

	

 	
 	

Signed	
 	

/s/  LESLIE MCEVOY      
Leslie McEvoy

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Exhibit 10.19

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