Document:

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                                                                    Exhibit 10.6

                            STOCK PURCHASE AGREEMENT

                  THIS AGREEMENT is made as of the 9th day of November, 2000,
between Cell Pathways, Inc. (the "Company"), a corporation organized under the
laws of the State of Delaware, with its principal offices at 702 Electronic
Drive, Horsham, Pennsylvania 19044 and each purchaser whose name is set forth on
the signature page hereof (each a "Purchaser" and collectively, the
"Purchasers").

                  IN CONSIDERATION of the mutual covenants contained in this
Agreement, the Company and each Purchaser, intending to be legally bound, agree
as follows:

                  SECTION 1. Authorization of Sale of the Units. Subject to the
terms and conditions of this Agreement, the Company has authorized the sale of
up to 3,200,000 units (the "Units"), each consisting of one share (each, a
"Share" and, collectively, the "Shares") of the common stock, $0.01 par value
per share, of the Company (the "Common Stock") and one warrant (each, a
"Warrant" and, collectively, the "Warrants"), to purchase one and thirty-five
hundredths (1.35) shares of common stock (each, a "Warrant Share" and,
collectively, the "Warrant Shares"). The terms of the Warrants shall be as set
forth in the form of Warrant set forth as Exhibit A attached hereto.

                  SECTION 2. Agreement to Sell and Purchase the Units. At the
Closing (as defined in Section 3), the Company will sell to each Purchaser, and
such Purchaser will buy from the Company, upon the terms and conditions
hereinafter set forth, the number of Units shown, and at the purchase price
shown, opposite such Purchaser's name on Schedule A attached hereto. The Shares
and the Warrants constituting the Units shall become immediately separable and
transferable upon the Closing. The Company may simultaneously enter into a
similar form of this purchase agreement with certain other investors (the "Other
Purchasers") and complete sales of Units to them, although it is understood that
there is no minimum number of Units that are required to be sold by the Company.
(The Purchaser and the Other Purchasers, if any, are hereinafter sometimes
collectively referred to as the "Purchasers," and this Agreement and the similar
agreements executed by the Other Purchasers are hereinafter sometimes
collectively referred to as the "Agreements.")

                  SECTION 3. Delivery of the Units at the Closing. The
completion of the purchase and sale of the Units (the "Closing") shall occur on
November 9, 2000, at the offices of Morgan, Lewis & Bockius LLP, 1701 Market
Street, Philadelphia, PA 19102, or at such other time or place as may be agreed
upon by the Company and each Purchaser (the "Closing Date"). At the Closing, the
Company shall deliver to such Purchaser one or more stock certificates for the
Shares and one or more Warrants registered in the name of such Purchaser, or in
such name(s) as designated by such Purchaser, based on the number of Units set
forth in Section 2

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above. The name(s) in which the stock certificates for the Shares and the
Warrants are to be registered are set forth in the Stock Certificate and Warrant
Questionnaire set forth on Appendix I attached hereto. The Company's obligation
to complete the purchase and sale of the Units and deliver such stock
certificate(s) and Warrant(s) to each Purchaser at the Closing shall be subject
to the following conditions, any one or more of which may be waived by the
Company in its sole discretion: (i) receipt by the Company of immediately
available funds in the full amount of the purchase price for the Units being
purchased hereunder; (ii) completion of the purchases and sales under the
Agreements with any Other Purchasers; and (iii) the accuracy of the
representations and warranties made by the Purchasers and the fulfillment of
those undertakings of the Purchasers to be fulfilled prior to the Closing;
provided, however, that in the event that condition (ii) or, with respect to
Other Purchasers, condition (iii) is not met, each Purchaser shall have the
right, but not the obligation, to purchase the Units which such Other Purchaser
(the "Defaulting Purchaser") should have purchased on the same terms, and if
Other Purchasers want to exercise this right, on a pro rata basis (based on the
number of Units purchased hereunder and under the other purchase agreements)
with any Other Purchasers exercising the right, and if the Purchaser and/or
Other Purchasers exercise this right, the condition shall be deemed to have been
met. Each Purchaser's obligation to accept delivery of such stock certificate(s)
and Warrant(s) and to pay for the Units evidenced thereby shall be subject to
the accuracy in all material respects of the representations and warranties made
by the Company in the Purchase Agreement and the fulfillment in all material
respects of those undertakings of the Company to be fulfilled prior to Closing.

                  SECTION 4. Representations, Warranties and Covenants of the
Company. The Company hereby represents and warrants to, and covenants with, each
Purchaser as follows:

                  4.1. Organization and Qualification. The Company is a
corporation duly organized and in good standing under the laws of the State of
Delaware and has all requisite corporate power and authority to conduct its
business as currently conducted. The Company is qualified to do business as a
foreign corporation and is in good standing in each jurisdiction in which the
Company conducts business, except where the failure to be so organized or in
good standing would not be reasonably likely to have a material adverse effect
on the business, condition (financial or otherwise) or results of operations of
the Company.

                  4.2. Authorized and Issued Capital Stock.

                  (a) As of September 30, 2000, the authorized capital stock of
the Company consists of (i) 150,000,000 shares of Common Stock, of which
27,873,457 shares were issued and outstanding, and (ii) 10,000,000 shares of
preferred stock, par value $0.01 per share, of which no shares are issued and
outstanding. Holders of the shares of Common Stock have certain rights pursuant
to the terms of a Rights Agreement, dated as of December 3, 1998, between the
Company and Registrar and Transfer Company, as rights agent. All of the
outstanding shares of Common Stock were validly issued and are fully paid and
non-assessable shares.

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                  (b) The Company has registered the Common Stock pursuant to
Section 12(g) of the Securities Exchange Act of 1934, as amended (together with
the rules and regulations promulgated thereunder, the "Exchange Act"), and, to
the date hereof, has filed all periodic reports required to be filed under the
Exchange Act. The Common Stock is currently included for listing in the Nasdaq
National Market.

                  4.3. Due Execution, Delivery and Performance of this
Agreement. The execution, delivery and performance of this Agreement by the
Company, including, without limitation, the issuance of the Shares and the
Warrants (i) have been duly authorized by all requisite corporate action by the
Company and (ii) will not violate (A) the Certificate of Incorporation (the
"Certificate of Incorporation") or the Bylaws (the "Bylaws") of the Company, (B)
any law, statute, rule or regulation applicable to the Company, or (C) any
provision of any material indenture, mortgage, agreement, contract or other
material instrument to which the Company is a party or by which the Company or
any of its properties or assets is bound as of the date hereof, and (iii) will
not result in a breach of or constitute (upon notice or lapse of time or both) a
default under any such material indenture, mortgage, agreement, contract or
other material instrument or result in the creation or imposition of any lien,
security interest, mortgage, pledge, charge or other encumbrance, of any
material nature whatsoever, upon any properties or assets of the Company, except
for such violations (other than in the case of clause (ii)(A)), breaches,
defaults or encumbrances which would not be reasonably likely to have a material
adverse effect on the business, condition (financial or otherwise) or results of
operations of the Company. The Company has no material subsidiaries, except Cell
Pathways Pharmaceuticals, Inc. Upon execution and delivery, and assuming the
valid execution thereof by the respective Purchasers, this Agreement will
constitute a valid and binding obligation of the Company, enforceable in
accordance with its terms, except as may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors' and
contracting parties' rights generally and except as enforceability may be
subject to general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law) and except as
the indemnification and contribution agreements of the Company in Section 7.4
hereof may be legally unenforceable.

                  4.4. Issuance, Sale and Delivery of the Shares and Warrant
Shares. When issued and paid for, the Shares to be sold hereunder by the Company
and the Warrant Shares to be acquired upon exercise of the Warrants will be
validly issued and outstanding, fully paid and non-assessable. Neither the sale
of the Shares and Warrants, nor the Company's performance of its obligations
pursuant to this Agreement and the Warrants shall (i) result in the creation or
imposition of any liens, charges, claims or other encumbrances upon the Shares
or Warrants or any of the assets of the Company, or (ii) entitle the holders of
the outstanding Common Stock to preemptive or other similar rights to subscribe
to or acquire Common Stock or other securities of the Company.

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                  4.5. Exemption from Registration. Assuming the accuracy of
each Purchaser's representations and warranties set forth in Section 5 hereof,
the offer, issuance and sale of the Shares pursuant to this Agreement are and
will be exempt from the registration and prospectus delivery requirements of the
Securities Act of 1933, as amended (together with the rules and regulations
promulgated thereunder, the "Securities Act").

                  4.6. Additional Information. The Company represents and
warrants that the information contained in the following documents, copies of
which have been furnished to each Purchaser, was true and correct in all
material respects and did not contain any untrue statement of a material fact or
omit to state any material fact necessary to make the statements contained
therein in light of the circumstances under which they were made not misleading,
in each case as of their respective dates (the "SEC Documents"):

                  (i)      the Company's Annual Report on Form 10-K for the
                           fiscal year ended December 31, 1999 (without
                           exhibits);

                  (ii)     the Company's Quarterly Reports on Form 10-Q for the
                           three-month periods ended March 31, 2000, June 30,
                           2000 and September 30, 2000;

                  (iii)    the Company's Current Report on Form 8-K filed with
                           the Securities and Exchange Commission (the
                           "Commission") on September 29, 2000; and

                  (iv)     the notice of annual meeting of stockholders and
                           proxy statement for the Company's 2000 annual meeting
                           of stockholders held May 31, 2000.

                  4.7. No Material Change. As of the date hereof, to the
knowledge of the Company, there has been no undisclosed material adverse change
in the business, condition (financial or otherwise) or results of operations of
the Company since September 30, 2000, it being understood that (a) the Company
has not achieved revenues and that the continued expenditure of resources in the
Company's continuing operations does not constitute a material adverse change
within the meaning of this paragraph, and (b) that the Company is engaged in
ongoing projects and processes whose outcomes are uncertain and that the ongoing
developments in respect of these projects and processes do not constitute a
material adverse change within the meaning of this paragraph. By way of example
and not by way of limitation, the ongoing projects and processes whose outcomes
are uncertain include (i) the ongoing clinical trials of Aptosyn(TM) (exisulind)
and CP 461; (ii) the clinical trial of exisulind in sporadic colonic polyps (the
treatment portion has been completed and for which the blind has not been
broken) which trial, even if successful, will not be adequate evidence of
efficacy to file an NDA for use of Aptosyn in treatment of sporadic colonic
polyps and, even if successful, may not be supportive of the pending NDA for use
in FAP; (iii) the NDA for exisulind for familial adenomatous polypsis which was
submitted by the Company in August 1999, and with respect to which the FDA
issued a "not approvable" letter on September 25, 2000; (iv) the pendency of
patent applications in the patent offices of the United States and other
countries; (v) the pendency of

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certain class actions filed against the Company, as described most recently in
the notes to the financial statements included as part of the Company's
Quarterly Report on Form 10-Q for the quarter ended September 30, 2000, which
class actions are subject to developments that cannot be predicted by the
Company; and (vi) and the collaborations with major pharmaceutical companies for
combination therapy trials which are subject to change, delay or cancellation
due to any one or more factors which may develop at any time.

                   4.8. Legal Opinion. Prior to and as a condition to the
Closing, Morgan, Lewis & Bockius, LLP, counsel to the Company, will deliver a
legal opinion to the Purchasers as to the valid issuance of the Shares and the
Warrant Shares, a draft of which has been provided to the Purchasers prior to
the date hereof.

                  4.9. Listing of Common Stock. The Company shall use its best
commercially practical efforts to cause the Shares and the Warrant Shares to be
included for listing in the Nasdaq National Market and to maintain the listing
of the Shares and the Warrant Shares on each national securities exchange or
automated quotation system, if any, upon which shares of Common Stock are then
listed.

                  4.10 Eligibility. The Company is currently eligible to
register the resale of the Shares and the Warrant Shares on a registration
statement on Form S-3 under the Securities Act.

                   SECTION 5. Representations, Warranties and Covenants of the
Purchasers.

                  (a) Each Purchaser acknowledges that the offering and sale of
the Shares and Warrants have not been registered under the Securities Act or any
state securities law and that neither the Shares nor Warrants may be offered,
sold, pledged or otherwise transferred (i) in the absence of such registration,
(ii) unless the Company receives an opinion of counsel reasonably acceptable to
it that such offer, sale, pledge or transfer is exempt from any registration and
prospectus delivery requirements of the Securities Act and any applicable state
securities laws or (iii) unless the Shares or the Warrant Shares, as the case
may be, are sold pursuant to Rule 144 promulgated under the Securities Act
("Rule 144") in accordance with the terms of such rule. Except as otherwise
permitted by Section 7.3, each certificate for the Shares issued at the Closing,
or the Warrant Shares, as the case may be, or upon direct or indirect transfer
of or in substitution thereof, shall be stamped or otherwise imprinted with a
legend in substantially the following form:

                  The Shares represented by this certificate have not been
                  registered under the Securities Act of 1933, as amended, or
                  under any applicable state securities laws and may not be
                  offered, sold, pledged or transferred in the absence of such
                  registration unless the Company receives an opinion of
                  counsel, in form, substance and scope reasonably acceptable to
                  the Company, that such offer, sale,

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                  pledge or transfer is exempt from any registration and
                  prospectus delivery requirements of the Securities Act and
                  such applicable state securities laws.

                  Each Purchaser acknowledges and agrees that the Warrants will
contain a similar legend, as set forth on the top of the form of Warrant set
forth in Exhibit A.

                  (b) Each Purchaser represents and warrants, as of the date
hereof and as of the Closing Date, to, and covenants with, the Company that: (i)
the Purchaser is knowledgeable, sophisticated and experienced in making, and is
qualified to make, decisions with respect to investments in equity securities
presenting an investment decision like that involved in the purchase of the
Units, including investments in equity securities issued by development-stage
biopharmaceutical companies; (ii) the Purchaser or its counsel, accountants or
other investment advisers have requested, received, reviewed and considered all
information deemed relevant by them in making an informed decision to purchase
the Units, (iii) the Purchaser is acquiring the Units for its own account for
investment only and with no present intention of distributing any of the Units,
and there is no arrangement or understanding with any other persons regarding
the distribution of the Units; provided however, that such representation and
warranty will not limit the Purchaser's right to sell Shares or Warrant Shares
pursuant to the Registration Statement or pursuant to an exemption from the
Securities Act; (iv) the Purchaser will not, directly or indirectly, offer, sell
(including sell short), pledge, transfer or otherwise dispose of (or solicit any
offers to buy, purchase or otherwise acquire or take a pledge of) any of the
Shares or Warrant Shares except in compliance with the Securities Act and the
rules and regulations promulgated thereunder; (v) the Purchaser has completed or
caused to be completed the Registration Statement Questionnaire and the Stock
Certificate and Warrant Questionnaire, both set forth on Appendix I attached
hereto, for use in preparation of the Registration Statement, and the answers
thereto are true, correct and complete in all material respects as of the date
hereof and will be true, correct and complete in all material respects as of the
effective date of the Registration Statement; (vi) the Purchaser has, in
connection with its decision to purchase the Units, relied solely upon the SEC
Documents and the representations and warranties contained herein, as well as
any investigation completed by the Purchaser or its counsel, accountants or
other investment advisers; and (vii) the Purchaser is an "accredited investor"
within the meaning of Rule 501 of Regulation D promulgated under the Securities
Act.

                  (c) Each Purchaser agrees not to make any sale of the Shares
or the Warrant Shares under the Registration Statement without effectively
causing the prospectus delivery requirement under the Securities Act to be
satisfied, and each Purchaser acknowledges and agrees that such Shares and
Warrant Shares are not transferable on the books of the Company unless the
certificate submitted to the transfer agent evidencing the Shares or the Warrant
Shares is accompanied by a separate officer's certificate: (i) in the form set
forth on Appendix II attached hereto, (ii) executed by an officer of, or other
authorized person designated by, the Purchaser, and (iii) to the effect that (A)
such Shares or Warrant Shares have been sold pursuant to and in accordance with
the Registration Statement and the "Plan of Distribution" section of the
prospectus included therein and (B) the requirement of delivering a current
prospectus has been

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satisfied, unless exempt from registration and prospectus delivery requirements.
Each Purchaser acknowledges that there may occasionally be times when the
Company must suspend the use of the prospectus forming a part of the
Registration Statement until such time as an amendment to the Registration
Statement has been filed by the Company and declared effective by the
Commission, or until such time as the Company has filed an appropriate report
with the Commission pursuant to the Exchange Act. Each Purchaser agrees that it
will not sell any Shares or Warrant Shares during the period commencing at the
time at which the Company gives the Purchaser notice of the suspension of the
use of said prospectus and ending at the time the Company gives the Purchaser
notice that the Purchaser may thereafter effect sales pursuant to said
prospectus. The Company shall only be able to suspend the use of said prospectus
for periods aggregating no more than one hundred twenty (120) days in any twelve
month period (the "Aggregate Period"), of which no individual period shall be
longer than sixty (60) consecutive days; provided, that should a Lock-Up Period
(as defined below in Section 5(e) hereof) occur, then the Aggregate Period for
the twelve month period during which such Lock-Up Period occurs shall be reduced
by a number of days equal to the number of days in such Lock-Up period, but in
no case shall the Aggregate Period be reduced to a number of days that is less
than sixty (60) days. Each Purchaser further agrees to notify promptly the
Company of the sale of any or all of such Purchaser's Shares or Warrant Shares,
and to notify promptly the Company in writing of any material changes in the
information set forth in the Registration Statement relating to such Purchaser
or its plan of distribution, or of any supplemental information required to be
included in the Registration Statement relating to its plan of distribution.

                  (d) Each Purchaser further represents and warrants, as of the
date hereof and as of the Closing Date, to, and covenants with, the Company
that: (i) the Purchaser has full right, power, authority and capacity to enter
into this Agreement and to consummate the transactions contemplated hereby and
has taken all necessary action to authorize the execution, delivery and
performance of this Agreement, and (ii) upon the execution and delivery of this
Agreement, this Agreement shall constitute a valid and binding obligation of the
Purchaser enforceable in accordance with its terms, except as may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting creditors' and contracting parties' rights generally and except as
enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law)
and except as the indemnification and contribution agreements of the Purchaser
in Section 7.4 hereof may be legally unenforceable.

                  (e) In consideration for the Company agreeing to its
obligations set forth in Section 7 below in respect of Shares and Warrant
Shares, each Purchaser agrees, in connection with any firm commitment
underwritten offering of the Common Stock, upon the request of the managing
underwriters of such offering, not to directly or indirectly (i) offer for sale,
sell, pledge, contract to sell or otherwise dispose of (or enter into any
transaction or device which is designed to, or could be expected to, result in
the disposition by any person at any time in the future of) any shares of Common
Stock or securities convertible into or exercisable or exchangeable for

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shares of Common Stock or (ii) enter into any swap or derivatives transaction
that transfers to another, in whole or in part, any of the economic benefits or
risks of ownership of shares of Common Stock, whether any such transaction
described in clause (i) or (ii) above is to be settled by delivery of shares of
Common Stock or other securities, in cash or otherwise, without the prior
written consent of such managing underwriters during the period of time
beginning ten days prior to the date when such managing underwriters advise the
Company that they expect to initiate such public offering and ending at a date
not to exceed ninety days from the commencement of such public offering (the
"Lock-Up Period"). Notwithstanding the foregoing, this obligation shall not
apply to the Purchaser unless each of the Company's directors and executive
officers who beneficially owns shares of Common Stock enters into a similar
agreement.

                  SECTION 6. Survival of Representations, Warranties and
Agreements. Notwithstanding any investigation made by any party to this
Agreement, all covenants, agreements, representations and warranties made by the
Company and the Purchaser herein shall survive the execution of this Agreement,
the delivery to the Purchaser of the Shares being purchased and the payment
therefor, for a period of one year following such payment therefor.

                  SECTION 7. Registration of Shares for Resale

                  7.1.     Registration Procedures and Expenses.

                  (a) The Company shall as soon as practicable after Closing,
but in no event later than twenty (20) days thereafter, prepare and file with
the Commission a registration statement on Form S-3 (or if such form is
unavailable to the Company, on such other form deemed appropriate for the
registration of the Common Stock by the Commission) (the "Registration
Statement") to register the Shares and Warrant Shares (collectively, the
"Registrable Shares") for resale by the Purchasers in non-underwritten, market
transactions, and shall use its best efforts to cause the Registration Statement
to become effective as soon as practicable thereafter. The Company shall, at
least three (3) business days before filing such Registration Statement, provide
a draft to each Purchaser and its counsel and its agent for review;

                  (b) The Company shall promptly prepare and file with the
Commission such amendments and supplements to the Registration Statement and the
prospectus used in connection therewith as may be necessary to keep such the
Registration Statement effective until such date when either all of the
Registrable Shares have been sold pursuant thereto or, by reason of Rule 144(k)
of the Commission under the Securities Act or any other rule of similar effect,
the Registrable Shares may be sold by the Purchasers in ordinary market
transactions without registration and without compliance with of any volume
limitations (the "Registration Period");

                  (c) The Company shall promptly furnish to each Purchaser and
its agent such number of copies of prospectuses and preliminary prospectuses in
conformity with the

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requirements of the Securities Act as such Purchaser or its agent may reasonably
request, in order to facilitate the public sale or other disposition of all or
any of the Shares by such Purchaser;

                  (d) The Company shall promptly file documents required of the
Company for any required blue sky clearance for the Registrable Shares in such
states specified in writing by each Purchaser or its agent; provided, however,
that the Company shall not be required to (i) qualify to do business or consent
to service of process in any jurisdiction in which it is not now so qualified or
has not so consented, (ii) subject itself to general taxation in any such
jurisdiction, (iii) provide any undertakings that cause the Company undue burden
or expense or (iv) make any change in its charter or bylaws;

                  (e) The Company shall promptly inform each Purchaser and its
agent when any stop order has been issued with respect to the Registration
Statement and use its commercially practical best efforts to promptly cause such
stop order to be withdrawn;

                  (f) The Company shall notify each Purchaser whose Registrable
Shares are registered on a Registration Statement and its agent at any time when
a prospectus relating to any Registrable Shares covered by such Registration
Statement or a Company Registration Statement is required to be delivered under
the Securities Act, of the happening of any event as a result of which the
prospectus included in such registration statement, as then in effect, includes
an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing and promptly file such
amendments and supplements as may be necessary so that, as thereafter delivered
to such Purchasers of such Registrable Shares, such prospectus shall not include
an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not misleading
in light of the circumstances then existing and use its best commercially
practical efforts to cause each such amendment and supplement to become
effective;

                  (g) The Company shall bear all expenses in connection with the
procedures in clauses (a) through (f) in this Section 7.1 and the registration
of the Registrable Shares pursuant to the Registration Statement, other than
fees and expenses, if any, of counsel or other advisers to the Purchaser or the
Other Purchasers and any expenses relating to the sale of the Registrable Shares
by the Purchasers (including without limitation, broker's commissions, discounts
or fees of any nature and transfer taxes or charges of any nature); and

                  (h) The Company understands that each Purchaser disclaims
being an underwriter, but a Purchaser being deemed an underwriter shall not
relieve the Company of any obligations it has hereunder. A questionnaire related
to the Registration Statement to be completed by each Purchaser is set forth on
Appendix I.

                  7.2. Transfer of Registrable Shares. Each Purchaser agrees
that it will not effect any disposition of Registrable Shares except as
contemplated in the Registration Statement

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and as described in the "Plan of Distribution" section of the prospectus
included therein, or as otherwise in compliance with applicable securities laws,
and that it will promptly notify the Company of any material changes in the
information set forth in the Registration Statement regarding the Purchaser or
such "Plan of Distribution," Without limitation, each Purchaser understands that
(i) it may not use Registrable Shares to cover a short position in shares of the
Common Stock created prior to the effective date of the Registration Statement,
and (ii) it must deliver a prospectus in connection with any short sale of the
Registrable Shares unless it is exempt from such requirement.

                  7.3. Indemnification. For the purpose of this Section 7.3:

                  (a) the term "Selling Stockholder" shall include the
Purchaser, its officers, directors, agent and/or trustees and any affiliate or
controlling person of such Purchaser or any permitted assign hereunder;

                  (b) the term "Registration Statement" shall include any final
prospectus, exhibit, supplement or amendment included in or relating to the
Registration Statement referred to in Section 7.1; and

                  (c) the term "untrue statement" shall include any untrue
statement or alleged untrue statement, or any omission or alleged omission to
state in the Registration Statement a material fact required to be stated
therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

                  The Company agrees to indemnify and hold harmless each Selling
Stockholder from and against any losses, claims, damages or liabilities to which
such Selling Stockholder may become subject (under the Securities Act or
otherwise) insofar as such losses, claims, damages or liabilities (or actions or
proceedings in respect thereof) arise out of, or are based upon, any breach of
the representations set forth in Section 4 hereof by the Company, or any untrue
statement of a material fact contained in the Registration Statement, or arise
out of any failure by the Company to fulfill any agreement, covenant or
undertaking contained in this Agreement or included in the Registration
Statement, and the Company will reimburse such Selling Stockholder for any
reasonable out-of-pocket legal or other documented out-of-pocket expenses
reasonably incurred in investigating, defending or preparing to defend any such
action, proceeding or claim; provided, however, that the Company shall not be
liable in any such case to the extent that such loss, claim, damage or liability
arises out of, or is based upon, (i) an untrue statement made in the
Registration Statement in reliance upon and in conformity with written
information furnished to the Company by or on behalf of such Selling Stockholder
specifically for use in the Registration Statement (which shall be deemed to
include the information set forth in the Registration Statement Questionnaire
and in the "Plan of Distribution" section of the prospectus included as part of
the Registration Statement), (ii) the failure of such Selling Stockholder to
comply with the covenants and agreements contained herein respecting transfer or
sale of Registrable Shares, or (iii) any statement or omission in any prospectus
that is corrected

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in any subsequent prospectus that was delivered to the Purchaser sufficiently
prior to the pertinent sale or sales by the Purchaser. The Company shall also
not be liable for amounts paid in settlement of any loss, claim, damage or
liability if such settlement if effected without the prior written consent of
the Company, which consent shall not be unreasonably withheld.

                  Each Purchaser agrees, severally and not jointly, to indemnify
and hold harmless the Company (and each person, if any, who controls the Company
within the meaning of Section 15 of the Securities Act, each officer of the
Company who signs the Registration Statement and each director of the Company)
from and against any losses, claims, damages or liabilities to which the Company
(or any such officer, director or controlling person) may become subject (under
the Securities Act or otherwise), insofar as such losses, claims, damages or
liabilities (or actions or proceedings in respect thereof) arise out of, or are
based upon, any breach of the representations set forth in Section 5 hereof by
such Purchaser, or any failure by such Purchaser to comply with the covenants
and agreements contained herein regarding the transfer or sale of Registrable
Shares, or any untrue statement of a material fact contained in the Registration
Statement if such untrue statement was made in reliance upon and in conformity
with written information furnished by or on behalf of the Purchaser specifically
for use in the Registration Statement. Each Purchaser will reimburse, severally
and not jointly, the Company (or such officer, director or controlling person),
as the case may be, for any out-of-pocket legal or other documented
out-of-pocket expenses reasonably incurred in investigating, defending or
preparing to defend any such action, proceeding or claim. Each Purchaser agrees
that the information regarding the Purchaser or its officers, directors and
affiliates and their intended plan of distribution of the Shares set forth in
the Registration Statement Questionnaire, the form of which is set forth on
Appendix I, or included from time to time in the Registration Statement
(including without limitation the "Plan of Distribution" section of the
prospectus included in the Registration Statement) shall be deemed to be written
information furnished to the Company by or on behalf of the Purchaser
specifically for use in the Registration Statement. The foregoing
indemnification shall be limited in amount as to each Purchaser to the Purchase
Price paid by such Purchaser hereunder.

                  Promptly after receipt by any indemnified person of a notice
of a claim or the beginning of any action in respect of which indemnity is to be
sought against an indemnifying person pursuant to this Section 7.3, such
indemnified person shall notify the indemnifying person in writing of such claim
or of the commencement of such action; provided, however, that any failure by an
indemnified person to notify an indemnifying person shall not relieve the
indemnifying person from its obligations hereunder except to the extent that the
indemnifying person is materially prejudiced thereby. Subject to the provisions
hereinafter stated, in case any such action shall be brought against an
indemnified person and such indemnifying person shall have been notified
thereof, such indemnifying person shall be entitled to participate therein, and,
to the extent it shall wish, to assume and control the defense thereof, with
counsel reasonably satisfactory to such indemnified person. After notice from
the indemnifying person to such indemnified person of its election to assume the
defense thereof, such indemnifying person shall not be liable to such
indemnified person for any legal expenses subsequently incurred by such

                                       11
<PAGE>   12

indemnified person in connection with the defense thereof; provided, however,
that if there exists a conflict of interest that would make it inappropriate, in
the opinion of counsel to the indemnifying person, for the same counsel to
represent both the indemnified person and such indemnifying person or any
affiliate or associate thereof, the indemnified person shall be entitled to
retain its own counsel at the expense of such indemnifying person; provided
further, however, that no indemnifying person shall be responsible for the fees
and expenses of more than one separate counsel for all indemnified parties
hereunder and under the other Agreements.

                  If the indemnification provided for in this Section 7.3 from
the indemnifying person would be applicable by its terms but is otherwise
unavailable, as determined by a court of applicable jurisdiction, to an
indemnified person hereunder in respect of any losses, claims, damages,
liabilities or expenses referred to herein, then the indemnifying person, in
lieu of indemnifying such indemnified person, shall contribute to the amount
paid or payable by such indemnified person as a result of such losses, claims,
damages, liabilities or expenses in such proportion as is appropriate to reflect
the relative fault of the indemnifying person and indemnified persons in
connection with the actions which resulted in such losses, claims, damages,
liabilities or expenses, as well as any other relevant equitable considerations.
The relative fault of such indemnifying person and indemnified persons shall be
determined by reference to, among other things, whether any action in question,
including any untrue or alleged untrue statement of a material fact, has been
made by, or relates to information supplied by, such indemnifying person or
indemnified persons, and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such action. The amount paid
or payable by a party as a result of the losses, claims, damages, liabilities
and expenses referred to above shall be deemed to include, subject to the
limitations set forth in this Section 7.3, any reasonable legal or other fees or
expenses reasonably incurred by such party in connection with any investigation
or proceeding.

                  The parties hereto agree that it would not be just and
equitable if contribution pursuant to this Section 7.3 were determined by pro
rata allocation or by any other method of allocation which does not take account
of the equitable considerations referred to in the immediately preceding
paragraph. Notwithstanding the provisions of this Section 7.3, no Purchaser
shall be required to contribute any amount in excess of the aggregate dollar
amount of the proceeds received by such Purchaser upon the sale of the
Registrable Shares. No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation.

                  7.4. Termination of Conditions and Obligations. The conditions
imposed by Section 5 or this Section 7 upon the transferability of Registrable
Shares shall cease and terminate as to any particular number of Registrable
Shares when the offering of such Registrable Shares shall have been effectively
registered under the Securities Act and sold or otherwise disposed of in
accordance with the intended method of disposition set forth in the Registration
Statement and the "Plan of Distribution" section of prospectus included therein,
or

                                       12
<PAGE>   13

at such time as an opinion of counsel satisfactory to the Company shall have
been rendered to the effect that such conditions are not necessary in order to
comply with the Securities Act.

                  7.5. Continued Availability of Information. So long as the
Registration Statement is effective covering the resale of Registrable Shares
owned by the Purchaser, the Company will furnish to the Purchaser:

                  (a) as soon as practicable after available (but in the case of
the Company's Annual Report to Stockholders, within 120 days after the end of
each fiscal year of the Company), one copy of (i) its Annual Report to
Stockholders (which Annual Report shall contain financial statements audited in
accordance with generally accepted accounting principles by a firm of certified
public accountants), (ii) if not included in substance in the Annual Report to
Stockholders, its Annual Report on Form 10-K, (iii) any quarterly reports to
stockholders, and if not included in substance in its quarterly reports to
stockholders, its quarterly reports on Form 10-Q, and (iv) a full copy of the
Registration Statement (the foregoing, in each case, excluding exhibits);

                  (b) upon the reasonable request of a Purchaser or its agent,
all exhibits excluded by the parenthetical to clause (a)(iv) of this Section 7.5
and all other information that is made available to stockholders; and

                  (c) upon the reasonable request of a Purchaser or its agent,
an adequate number of copies of the prospectuses to supply to any other party
requiring such prospectuses;

and the Company, upon the reasonable request of a Purchaser or its agent, will
meet with the Purchaser or a representative thereof at the Company's
headquarters to discuss all information relevant for disclosure in the
Registration Statement and will otherwise cooperate with any Purchaser
conducting an investigation for the purpose of reducing or eliminating such
Purchaser's exposure to liability under the Securities Act, including the
reasonable production at the Company's headquarters of non-confidential
information (and, upon execution of a confidentiality agreement satisfactory to
the Company, confidential information).

                  7.6. Reports under Exchange Act. With a view to making
available to the Purchasers the benefits of Rule 144 promulgated under the
Securities Act and any other rule or regulation of the Commission that may at
any time permit a Purchaser to sell Registrable Shares to the public without
registration, and with a view to making it possible to register the Registrable
Shares pursuant to a registration statement on Form S-3, the Company agrees to:

                  (a) make and keep available public information, as understood
and defined in Rule 144, at all times;

                  (b) file with the Commission in a timely manner all reports
and other documents required of the Company under the Securities Act and the
Exchange Act; and

                                       13
<PAGE>   14

                  (c) furnish to a Purchaser owning any Registrable Shares or
its agent upon reasonable request (i) a written statement by the Company that is
has complied with the reporting requirements of Rule 144, the Securities Act and
the Exchange Act, or that it qualifies as a registrant whose Registrable Shares
may be resold pursuant to a registration statement on Form S-3 (at any time
after it so qualified), (ii) a copy of the most recent annual or quarterly
report of the Company and such other reports and documents so filed by the
Company, and (iii) such other information as may be reasonably required in
availing any Purchaser of Registrable Shares of any rule or regulation of the
Commission which permits the selling of any such Registrable Shares without
registration or pursuant to such form.

                  SECTION 8. Broker's Fees. Each of the parties hereto hereby
represents that, on the basis of any actions and agreements by it, there are no
brokers or finders entitled to compensation in connection with the sale of the
Shares to the Purchasers, except for the Company's obligations as set forth on
Schedule A.

                  SECTION 9. Expenses. At the Closing, each party hereto shall
bear its own expenses.

                  SECTION 10. Notices. All notices, requests, consents and other
communications hereunder shall be in writing, shall be sent by a nationally
recognized overnight express courier postage prepaid, and shall be deemed given
one day after being so sent and shall be delivered as addressed as follows:

                  (a)      if to the Company, to:

                           Cell Pathways, Inc.
                           702 Electronic Drive
                           Horsham, PA 19044
                           Attention: Robert J. Towarnicki
                           President and Chief Executive Officer

                                       14
<PAGE>   15

                           with copies so mailed to:

                           Martha E. Manning, Esq.
                           Senior Vice President, General Counsel and Secretary
                           Cell Pathways, Inc.
                           702 Electronic Drive
                           Horsham, PA 19044

                           and to

                           Morgan, Lewis & Bockius LLP
                           1701 Market Street
                           Philadelphia, Pennsylvania  19103-2921
                           Attention:  Stephen Jannetta

                           or to such other person at such other place as the
                           Company shall designate to the Purchaser in
                           writing; and

                  (b) if to the Purchaser, at the address set forth on Schedule
A or Schedule B hereto, or at such other address or addresses as may have been
furnished to the Company in writing,

                  SECTION 11. Entire Agreement; Changes. This Agreement sets
forth the entire agreement of the parties and may not be modified or amended
except pursuant to an instrument in writing signed by the Company and the
Purchaser.

                  SECTION 12. Headings. The headings of the various sections of
this Agreement have been inserted for convenience of reference only and shall
not be deemed to be part of this Agreement.

                  SECTION 13. Severability. In case any provision contained in
this Agreement should be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein shall not in any way be affected or impaired thereby.

                  SECTION 14. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT
GIVING EFFECT TO CONFLICTS OF LAWS.

                  SECTION 15. Counterparts. This Agreement may be executed in
two or more counterparts, each of which shall constitute an original, but all of
which, when taken together, shall constitute but one instrument, and shall
become effective when one or more counterparts have been signed by each party
hereto and delivered to the other parties.

                                       15
<PAGE>   16

                  IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be executed by their duly authorized representatives as of the day
and year first above written.

                                 CELL PATHWAYS, INC.

                                 By: /s/ Robert J. Towarnicki
                                    -----------------------------------------
                                     Robert J. Towarnicki
                                     President and Chief Executive Officer

                                 VULCAN VENTURES INC.

                                 By: /s/ William D. Savoy
                                    -----------------------------------------
                                     Name:   William D. Savoy
                                     Title:  President

                                       16
<PAGE>   17

                                   SCHEDULE A

                               [NAME OF PURCHASER]

NAME AND ADDRESS               NUMBER OF SHARES      PRICE          AGGREGATE
OF PURCHASERS                  TO BE PURCHASED     PER SHARE     PURCHASE PRICE

Vulcan Ventures Inc.               500,000          $7.375        $3,687,500.00

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

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

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

<PAGE>   18

                                                                      Appendix I
                                                                    (one of two)

                               CELL PATHWAYS, INC.
                   STOCK CERTIFICATE AND WARRANT QUESTIONNAIRE

Please provide us with the following information:

1.   The exact name that your Shares and Warrants
     (both must be in the same name) are to be
     registered. This is the name that will
     appear on your stock certificate(s) and
     Warrant(s). You may use a nominee name
     if appropriate:
                                                        ----------------------

2.   The relationship between the Purchaser of
     the Units and the registered holder listed
     in response to item 1 above:
                                                        ----------------------

3.   The mailing address of the registered holder
     listed in response to item 1 above:
                                                        ----------------------

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

4.   The social security number or tax identification
     number of the registered holder listed in
     response to item 1 above:
                                                        ----------------------

<PAGE>   19

                                                                     Appendix I
                                                                   (two of two)

                               CELL PATHWAYS, INC.
                      REGISTRATION STATEMENT QUESTIONNAIRE

                  In connection with the preparation of the Registration
Statement, please provide us with the following information:

                  1. Pursuant to the "Selling Stockholder" section of the
Registration Statement, please state your or your organization's name exactly as
it should appear in the Registration Statement:

                  2. Please provide the number of shares of Common Stock that
you or your organization will own beneficially or of record immediately after
Closing, including those Shares purchased by you or your organization pursuant
to this Purchase Agreement and those shares purchased by you or your
organization through other transactions (indicating whether you have sole or
shared voting or dispositive power over such securities as determined under
applicable rules of the Securities and Exchange Commission):

<TABLE>
<CAPTION>
        VOTING POWER                       DISPOSITIVE POWER
   Sole               Shared             Sole            Shared
<S>                <C>               <C>              <C>               <C>
                                                                         Common Stock beneficially owned prior to the
----------          ----------        ----------       ----------        date hereof

                                                                         Shares being purchased from the Company
----------          ----------        ----------       ----------

                                                                         Warrant Shares, issuable upon exercise of the Warrants
----------          ----------        ----------       ----------        being purchased from the Company

                                                                         Common Stock issuable upon exercise of other options or
----------          ----------        ----------       ----------        warrants that you may own, to the extent such shares of
                                                                         Common Stock are deemed to be beneficially owned

      TOTAL:                         shares of Common Stock beneficially owned
                     ---------------
</TABLE>

                  3. Have you or your organization had any position, office or
other material relationship within the past three years with the Company or its
affiliates other than as disclosed in the Company's proxy statement for its 2000
annual meeting of stockholders, or with Janney Montgomery Scott?

<PAGE>   20

                     _____ Yes         _____ No

            If yes, please indicate the nature of any such relationships below:

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

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

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

            4. Attached is a draft of the proposed "Plan of Distribution"
section of the prospectus included in the Registration Statement. Please confirm
that the draft is a correct and complete statement of your intended plan of
distribution.

                     _____ Yes         _____ No

<PAGE>   21

                              PLAN OF DISTRIBUTION

                  The Shares being offered by the Selling Stockholder or its
respective pledgees, donees, transferees or other successors in interest, will
be sold in one or more transactions (which may involve block transactions) on
the Nasdaq National Market or on such other market on which the Common Stock may
from time to time be trading, in privately negotiated transactions, through the
writing of options on the Shares, short sales or any combination thereof. The
sale price to the public may be the market price prevailing at the time of sale,
a price related to such prevailing market price or such other price as the
Selling Stockholder determines from time to time. The Shares may also be sold
pursuant to Rule 144. The Selling Stockholder shall have the sole and absolute
discretion not to accept any purchase offer or make any sale of Shares if they
deem the purchase price to be unsatisfactory at any particular time.

                  The Selling Stockholder or its respective pledgees, donees,
transferee or other successors in interest, may also sell the Shares directly to
market makers acting as principals and/or broker-dealers acting as agents for
themselves or their customers. Brokers acting as agents for the Selling
Stockholder will receive usual and customary commissions for brokerage
transactions, and market makers and block purchasers purchasing the Shares will
do so for their own account and at their own risk. It is possible that the
Selling Stockholder will attempt to sell shares of Common Stock in block
transactions to market makers or other purchasers at a price per share which may
be below the then market price. There can be no assurance with all or any of the
Shares offered hereby will be issued to, or sold by, the Selling Stockholder.
The Selling Stockholder and any brokers, dealers or agents, upon effecting the
sale of any of the Shares offered hereby, may be deemed "underwriters" as that
term is defined under the Securities Act or the Exchange Act, or the rules and
regulations thereunder.

                  The Selling Stockholder, alternatively, may sell all or any
part of the Shares offered hereby through an underwriter. The Selling
Stockholder has not entered into any agreement with a prospective underwriter
and there is no assurance that any such agreement will be entered into. If the
Selling Stockholder enters into such an agreement or agreements, the relevant
details will be set forth in a supplement or revisions to this prospectus.

                  Upon the Company being notified by the Selling Stockholder
that any material arrangement has been entered into with a broker or dealer for
the sale of Shares through a block trade, special offering, exchange
distribution or secondary distribution or a purchase by a broker or dealer, a
supplemented prospectus will be filed, if required, pursuant to Rule 424(c)
under the Securities Act, disclosing (a) the name of each such broker-dealer,
(b) the number of Shares involved, (c) the price at which such Shares were sold,
(d) the commissions paid or discounts or concessions allowed to such
broker-dealer(s), where applicable, (e) that such broker-dealer(s) did not
conduct any investigation to verify the information set out or incorporated by
reference in this prospectus, as supplemented, and (f) other facts material to
the transaction.

<PAGE>   22

                  The Selling Stockholder and any other persons participating in
the sale or distribution of the Shares will be subject to applicable provisions
of the Exchange Act and the rules and regulations thereunder, which provisions
may limit the timing of purchases and sales of any of the Shares by the Selling
Stockholder or any other such person. The foregoing may affect the marketability
of the Shares.

                   The Company has agreed to indemnify the Selling Stockholder,
or its transferees or assignees, against certain liabilities, including
liabilities under the Securities Act, or to contribute to payments the Selling
Stockholder or its respective pledgees, donees, transferees or other successors
in interest, may be required to make in respect thereof.

                  The Company is bearing all costs relating to the registration
of the Shares (other than fees and expenses, if any, of counsel or other
advisers to the Selling Stockholder). Any commissions, discounts or other fees
payable to broker-dealers in connection with any sale of the Shares will be
borne by the Selling Stockholder.

<PAGE>   23

                                                                    APPENDIX II

Attention:

                   PURCHASER'S CERTIFICATE OF SUBSEQUENT SALE

           The undersigned, [AN OFFICER OF, OR OTHER PERSON DULY AUTHORIZED BY]
___________________________________________________ [FILL IN OFFICIAL NAME OF
INDIVIDUAL OR INSTITUTION] hereby certifies that he/she [said institution] is
the Purchaser of the shares evidenced by the attached certificate, and as such,
sold such shares on ______________ [DATE] pursuant to and in accordance with
registration statement number ____________________ [FILL IN THE NUMBER OF OR
OTHERWISE IDENTIFY REGISTRATION STATEMENT] and the requirement of delivering a
current prospectus by the Company has been complied with in connection with such
sale.

Print or Type:

          Name of Purchaser
            (individual or
            institution):        ______________________

          Name of individual
            representing
            Purchaser (if an
            institution)         ______________________

          Title of individual
            representing
            Purchaser (if an
            institution):        ______________________

Signature by:

          Individual purchaser
            or individual repre-
            senting purchaser:   ______________________11222000 Ex102

Exhibit 10.2

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON
EXERCISE HEREOF HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE
OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION
NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

WARRANT TO PURCHASE

SHARES OF COMMON STOCK

OF

CENTURA SOFTWARE CORPORATION

Expires September 12, 2005

No. W-__Redwood Shores, California

September 12, 2000

 

FOR VALUE RECEIVED, subject to the provisions hereinafter set
forth, the undersigned, CENTURA SOFTWARE CORPORATION, a Delaware corporation
(together with its successors and assigns, the "Issuer"), hereby certifies
that

Rochon Capital Group, Ltd.

or its registered assigns is entitled to subscribe for and
purchase, during the period specified in this warrant (the "Warrant" or
"Warrants"), 216,497 shares (subject to adjustment as hereinafter provided) of
the duly authorized, validly issued, fully paid and non-assessable common stock,
par value $0.01 per share, of the Issuer (the "Common Stock"), at an exercise
price per share equal to the Warrant Price then in effect, subject, however, to
the provisions and upon the terms and conditions hereinafter set forth.
Capitalized terms used in this Warrant and not otherwise defined herein shall
have the respective meanings specified in Section 7 hereof.

1.Term. The right to subscribe for and purchase
shares of Warrant Stock represented hereby shall commence on the date of
issuance of this Warrant and shall expire at 6:00 p.m., Pacific Standard time,
on September 12, 2005 (such period being the "Term"). Prior to the end of the
Term, the Issuer will not take any action which would terminate the
Warrants.

2.Method of Exercise Payment; Issuance of New Warrant;
Registration, Transfer and Exchange.

(a)Time of Exercise. The purchase rights
represented by this Warrant may be exercised in whole or in part at any time and
from time to time during the Term. 

(b)Method of Exercise. The Holder hereof may
exercise this Warrant, in whole or in part, by the surrender of this Warrant or
a copy hereof (with the Notice of Exercise attached hereto duly executed) at the
principal office of the Issuer and by the payment to the Issuer of an amount of
consideration therefor equal to the Warrant Price in effect on the date of such
exercise multiplied by the number of shares of Warrant Stock with respect to
which this Warrant is then being exercised, payable at such Holder's election
(i) by check, (ii) if the Per Share Market Value is greater than the Warrant
Price (at the date of calculation as set forth below), in lieu of exercising
this Warrant for cash, by receiving shares equal to the value (as determined
below) of this Warrant (or the portion thereof being canceled) by surrender of
this Warrant or a copy hereof at the principal office of the Company together
with the properly endorsed Notice of Exercise annexed hereto and notice of such
election in which event the Company shall issue to the Holder a number of shares
of Common Stock computed using the following formula:

	
X = 
	
Y(A-B)

A

WhereX =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 such calculation)

A =the Per Share Market Value of one share of the
Common Stock (at the date of such calculation)

B =Warrant Price (as adjusted to the date of such
calculation),

or (iii) by a combination of the foregoing methods of payment
selected by the Holder of this Warrant. In any case where the consideration
payable upon such exercise is being paid in whole or in part pursuant to the
provisions of clause (ii) of this subsection (b), such exercise shall be
accompanied by written notice from the Holder of this Warrant specifying the
manner of payment thereof and containing a calculation showing the number of
shares of Warrant Stock with respect to which rights are being surrendered
thereunder and the net number of shares to be issued after giving effect to such
surrender. Notwithstanding any other provision or definition contained in this
Warrant, each exercise of this Warrant shall be deemed to have been effected on
the day immediately prior to the close of business on the day on which the
Holder faxes a Notice of Exercise to the Issuer. For the avoidance of doubt, for
illustration purposes, and by way of example only, if the Holder faxes a Notice
of Exercise to the Issuer on Thursday, February 24th, then the Per
Share Market Value shall be the closing price per share of the Common Stock on
Wednesday, February 23rd. 

(c)Issuance of Stock Certificates. In the event of
any exercise of the rights represented by this Warrant in accordance with and
subject to the terms and conditions hereof, (i) certificates for the shares of
Warrant Stock so purchased shall be dated the date of such exercise and
delivered to the Holder hereof within a reasonable time, not exceeding three
Trading Days after such exercise, and the Holder hereof shall be deemed for all
purposes to be the Holder of the shares of Warrant Stock so purchased as of the
date of such exercise, and (ii) unless this Warrant has expired, a new Warrant
representing the number of shares of Warrant Stock, if any, with respect to
which this Warrant shall not then have been exercised (less any amount thereof
which shall have been cancelled in payment or partial payment of the Warrant
Price as hereinabove provided) shall also be issued to the Holder hereof at the
Issuer's expense within such time.

(d)Registration. The Warrants shall be numbered
and shall be registered in a Warrant register (the "Warrant Register"). The
Issuer shall be entitled to treat the registered holder of any Warrant on the
Warrant Register (the "Holder") as the owner in fact thereof for all purposes
and shall not be bound to recognize any equitable or other claim to or interest
in such Warrant on the part of any other person, and shall not be liable for any
registration of transfer of Warrants which are registered or are to be
registered in the name of a fiduciary or the nominee of a fiduciary unless made
with the actual knowledge that a fiduciary or nominee is committing a breach of
trust in requesting such registration of transfer, or with such knowledge of
such facts that its participation therein amounts to bad faith. The Warrants
shall be registered initially in the name of Holder as set forth in the first
sentence of this Warrant in such denominations as Holder may request in writing
to the Issuer. 

(e)Transfer of Warrant. This Warrant and all
rights hereunder are freely transferable, in whole or in part, without
restriction, upon surrender of this Warrant with a properly executed assignment
at the principal offices of the Issuer. Upon any registration of transfer, the
Issuer shall deliver a new Warrant or Warrants to the persons entitled thereto.
The Warrants may be exchanged at the option of the Holder thereof for another
Warrant, or other Warrants, of different denominations, of like tenor and
representing in the aggregate the right to purchase a like number of shares of
Common Stock upon surrender to the Issuer or its duly authorized agent.
Notwithstanding the foregoing, the Issuer shall have no obligation to cause
Warrants to be transferred on its books to any person if such transfer would
violate the Securities Act.

(f)Compliance with Securities Laws.
(i)The Holder of this Warrant, by acceptance hereof,
acknowledges that this Warrant and the shares of Warrant Stock to be issued upon
exercise hereof are being acquired solely for the Holder's own account and not
as a nominee for any other party, and for investment, and that the Holder will
not offer, sell or otherwise dispose of this Warrant or any shares of Warrant
Stock to be issued upon exercise hereof except pursuant to an effective
registration statement, or an exemption from registration, under the Securities
Act and any applicable state securities laws.

(ii)Except as provided in paragraph (iii) below, this
Warrant and all certificates representing shares of Warrant Stock issued upon
exercise hereof shall be stamped or imprinted with a legend in substantially the
following form:
THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT.

(iii)The restrictions imposed by this subsection (f) upon
the transfer of this Warrant and the shares of Warrant Stock to be purchased
upon exercise hereof shall terminate (A) when such securities shall have been
effectively registered under the Securities Act, (B) upon the Issuer's receipt
of an opinion of counsel, in form and substance reasonably satisfactory to the
Issuer, addressed to the Issuer to the effect that such restrictions are no
longer required to ensure compliance with the Securities Act or (C) upon the
Issuer's receipt of other evidence reasonably satisfactory to the Issuer that
such registration is not required. Whenever such restrictions shall cease and
terminate as to any such securities, the Holder thereof shall be entitled to
receive from the Issuer (or its transfer agent and registrar), without expense
(other than applicable transfer taxes, if any), new Warrants (or, in the case of
shares of Warrant Stock, new stock certificates) of like tenor not bearing the
applicable legends required by paragraph (ii) above relating to the Securities
Act and state securities laws.

(g)Continuing Rights of Holder. The Issuer will,
at the time of or at any time after each exercise of this Warrant, upon the
request of the Holder hereof or of any shares of Warrant Stock issued upon such
exercise, acknowledge in writing the extent, if any, of its continuing
obligation to afford to such Holder all rights to which such Holder shall
continue to be entitled after such exercise in accordance with the terms of this
Warrant, provided that if any such Holder shall fail to make any such
request, the failure shall not affect the continuing obligation of the Issuer to
afford such rights to such Holder.

3.Stock Fully Paid; Reservation and Listing of Shares;
Covenants.

(a)Stock Fully Paid. The Issuer represents,
warrants, covenants and agrees that all shares of Warrant Stock which may be
issued upon the exercise of this Warrant or otherwise hereunder will, upon
issuance, be duly authorized, validly issued, fully paid and non-assessable and
free from all taxes, liens and charges created by or through Issuer. The Issuer
further covenants and agrees that during the period within which this Warrant
may be exercised, the Issuer will at all times have authorized and reserved for
the purpose of the issue upon exercise of this Warrant a sufficient number of
shares of Common Stock to provide for the exercise of this Warrant.

(b)Payment of Taxes. The Issuer will pay all
documentary stamp taxes, if any, attributable to the issuance of Warrant Stock;
provided, however, that the Issuer shall not be required to pay any tax or taxes
which may be payable in respect of any transfer involved in the issue or
delivery of any certificates for Warrant Stock in a name other than that of the
Holder of Warrants in respect of which such Warrant Stock is issued.

(c)Reservation. If any shares of Common Stock
required to be reserved for issuance upon exercise of this Warrant or as
otherwise provided hereunder require registration or qualification with any
governmental authority under any federal or state law before such shares may be
so issued, the Issuer will in good faith use its best efforts as expeditiously
as possible at its expense to cause such shares to be duly registered or
qualified. The transfer agent for the Common Stock (the "Transfer Agent"), and
every subsequent transfer agent, if any, for the Warrant Stock will be
irrevocably authorized and directed at all times until the end of the Term to
reserve such number of authorized and unissued shares of Common Stock as shall
be required for such purpose. The Issuer will keep a copy of this Agreement on
file with the Transfer Agent and with every subsequent transfer agent for of the
Issuer's securities issuable upon the exercise of the Warrants. The Issuer will
supply the Transfer Agent or any subsequent transfer agent with duly executed
certificates for such purpose and will itself provide or otherwise make
available any cash which may be distributable as provided in Section 6 of this
Agreement. All Warrants surrendered in the exercise of the rights thereby
evidenced shall be canceled, and such canceled Warrants shall constitute
sufficient evidence of the number of Shares that have been issued upon the
exercise of such Warrants. No shares of Common Stock shall be subject to
reservation in respect of unexercised Warrants subsequent to the end of the
Term. If the Issuer shall list any shares of Common Stock on any securities
exchange or market it will, at its expense, list thereon, maintain and increase
when necessary such listing, of, all shares of Warrant Stock from time to time
issued upon exercise of this Warrant or as otherwise provided hereunder, and, to
the extent permissible under the applicable securities exchange rules, all
unissued shares of Warrant Stock which are at any time issuable hereunder, so
long as any shares of Common Stock shall be so listed. The Issuer will also so
list on each securities exchange or market, and will maintain such listing of,
any other securities which the Holder of this Warrant shall be entitled to
receive upon the exercise of this Warrant if at the time any securities of the
same class shall be listed on such securities exchange or market by the
Issuer.

(d)Covenants. The Issuer shall not by any action
including, without limitation, amending the certificate of incorporation or the
by-laws of the Issuer, or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other
action, avoid or seek to avoid the observance or performance of any of the terms
of this Warrant, but will at all times in good faith assist in the carrying out
of all such terms and in the taking of all such actions as may be necessary or
appropriate to protect the rights of the Holder hereof against dilution (to the
extent specifically provided herein) or impairment. Without limiting the
generality of the foregoing, the Issuer will (i) not permit the par value, if
any, of its Common Stock to exceed the then effective Warrant Price, (ii) not
amend or modify any provision of the certificate of incorporation or by-laws of
the Issuer in any manner that would adversely affect in any way the powers,
preferences or relative participating, optional or other special rights of the
Common Stock or which would adversely affect the rights of the Holders of the
Warrants, (iii) take all such action as may be reasonably necessary in order
that the Issuer may validly and legally issue fully paid and nonassessable
shares of Common Stock, free and clear of any liens, claims, encumbrances and
restrictions (other than as provided herein) upon the exercise of this Warrant,
and (iv) use its best efforts to obtain all such authorizations, exemptions or
consents from any public regulatory body having jurisdiction thereof as may be
reasonably necessary to enable the Issuer to perform its obligations under this
Warrant.

(e)Loss, Theft, Destruction of Warrants. Upon
receipt of evidence reasonably satisfactory to the Issuer of the ownership of
and the loss, theft, destruction or mutilation of any Warrant and, in the case
of any such loss, theft or destruction, upon receipt of indemnity or security
satisfactory to the Issuer or, in the case of any such mutilation, upon
surrender and cancellation of such Warrant, the Issuer will make and deliver, in
lieu of such lost, stolen, destroyed or mutilated Warrant, a new Warrant of like
tenor and representing the right to purchase the same number of shares of Common
Stock.

(f)Rights and Obligations under the Registration
Rights Agreement. This Warrant and the Common Stock underlying the Warrant
(the "Underlying Common Stock") are entitled to the benefits of all of the
registration rights provisions of the common stock purchase agreement dated on
or about September 12, 2000 by and between the Issuer and the parties listed on
the signatures page(s) thereof (as amended from time to time, the "Purchase
Agreement"). The Issuer shall keep or cause to be kept a copy of the Purchase
Agreement, and any amendments thereto, at its chief executive office and shall
furnish, without charge, copies thereof to the Holder upon request. All of the
registration rights provisions of the Purchase Agreement are hereby incorporated
by reference as though set forth in full herein and the Holder of this Warrant
shall be entitled to all of the benefits of the such registration rights
provisions as though such Holder were a party to the Purchase Agreement. It is
the Issuer's intention to register for resale the Underlying Common Stock on
behalf of the Holder as soon as practicable after the date hereof. If the
Underlying Common Stock is not fully registered and transferable without
restriction within 90 calendar days after the date hereof (the "Required
Effective Date"), the Company will pay liquidated damages to the Holder in cash
in the amount of $20,000.00 for the first month after the Required Effective
Date in which the Registration Statement has not been declared effective, and
$25,000.00 for each month thereafter. The Company agrees that it will maintain
the effectiveness of such Registration Statement and will keep it continuously
evergreen from its effective date until the earlier of (i) the end of the Term
and (ii) the date on which the Holder notifies the Company that all of the
Underlying Common Stock has been sold.

4.Adjustment of Warrant Price and Warrant Share
Number. The number and kind of Securities purchasable upon the exercise of
this Warrant and the Warrant Price shall be subject to adjustment from time to
time upon the happening of certain events as follows:

(a)Recapitalization, Reorganization, Reclassification,
Consolidation, Merger or Sale. 
(i) In case the Issuer after the Original Issue Date
shall do any of the following (each, a "Triggering Event"): (a) consolidate with
or merge into any other Person and the Issuer shall not be the continuing or
surviving corporation of such consolidation or merger, or (b) permit any other
Person to consolidate with or merge into the Issuer and the Issuer shall be the
continuing or surviving Person but, in connection with such consolidation or
merger, any Capital Stock of the Issuer shall be changed into or exchanged for
Securities of any other Person or cash or any other property, or (c) transfer
all or substantially all of its properties or assets to any other Person, or (d)
effect a capital reorganization or reclassification of its Capital Stock, then,
and in the case of each such Triggering Event, proper provision shall be made so
that, upon the basis and the terms and in the manner provided in this Warrant,
the Holder of this Warrant shall be entitled upon the exercise hereof at any
time after the consummation of such Triggering Event, to the extent this Warrant
is not exercised prior to such Triggering Event, or is redeemed in connection
with such Triggering Event, to receive at the Warrant Price in effect at the
time immediately prior to the consummation of such Triggering Event in lieu of
the Common Stock issuable upon such exercise of this Warrant prior to such
Triggering Event, the Securities, cash and property to which such Holder would
have been entitled upon the consummation of such Triggering Event if such Holder
had exercised the rights represented by this Warrant immediately prior thereto,
subject to adjustments and increases (subsequent to such corporate action) as
nearly equivalent as possible to the adjustments provided for in Section 4
hereof.

(ii)Notwithstanding anything contained in this
Warrant to the contrary, the Issuer will not effect any Triggering Event unless,
prior to the consummation thereof, each Person (other than the Issuer) which may
be required to deliver any Securities, cash or property upon the exercise of
this Warrant as provided herein shall assume, by written instrument delivered
to, and reasonably satisfactory to, the Holder of this Warrant, (A) the
obligations of the Issuer under this Warrant (and if the Issuer shall survive
the consummation of such Triggering Event, such assumption shall be in addition
to, and shall not release the Issuer from, any continuing obligations of the
Issuer under this Warrant) and (B) the obligation to deliver to such Holder such
shares of Securities, cash or property as, in accordance with the foregoing
provisions of this subsection (a), such Holder shall be entitled to receive, and
such Person shall have similarly delivered to such Holder an opinion of counsel
for such Person, which counsel shall be reasonably satisfactory to such Holder,
stating that this Warrant shall thereafter continue in full force and effect and
the terms hereof (including, without limitation, all of the provisions of this
subsection (a)) shall be applicable to the Securities, cash or property which
such Person may be required to deliver upon any exercise of this Warrant or the
exercise of any rights pursuant hereto. 

(b)Subdivision or Combination of Shares. If the
Issuer, at any time while this Warrant is outstanding, shall subdivide or
combine any shares of Common Stock, (i) in case of subdivision of shares, the
Warrant Price shall be proportionately reduced (as at the effective date of such
subdivision or, if the Issuer shall take a record of Holders of its Common Stock
for the purpose of so subdividing, as at the applicable record date, whichever
is earlier) to reflect the increase in the total number of shares of Common
Stock outstanding as a result of such subdivision, or (ii) in the case of a
combination of shares, the Warrant Price shall be proportionately increased (as
at the effective date of such combination or, if the Issuer shall take a record
of Holders of its Common Stock for the purpose of so combining, as at the
applicable record date, whichever is earlier) to reflect the reduction in the
total number of shares of Common Stock outstanding as a result of such
combination.

(c)Certain Dividends and Distributions. If the
Issuer, at any time while this Warrant is outstanding, shall:
(i)Stock Dividends. Pay a dividend in, or make any
other distribution to its stockholders (without consideration therefor) of,
shares of Common Stock, the Warrant Price shall be adjusted, as at the date the
Issuer shall take a record of the Holders of the Issuer's Capital Stock for the
purpose of receiving such dividend or other distribution (or if no such record
is taken, as at the date of such payment or other distribution), to that price
determined by multiplying the Warrant Price in effect immediately prior to such
record date (or if no such record is taken, then immediately prior to such
payment or other distribution), by a fraction (1) the numerator of which shall
be the total number of shares of Common Stock outstanding immediately prior to
such dividend or distribution, and (2) the denominator of which shall be the
total number of shares of Common Stock outstanding immediately after such
dividend or distribution (plus in the event that the Issuer paid cash for
fractional shares, the number of additional shares which would have been
outstanding had the Issuer issued fractional shares in connection with said
dividends); or

(ii)Other Dividends. Pay a dividend on, or make
any distribution of its assets upon or with respect to (including, but not
limited to, a distribution of its property as a dividend in liquidation or
partial liquidation or by way of return of capital), the Common Stock (other
than as described in clause (i) of this subsection (c)), or in the event that
the Issuer shall offer options or rights to subscribe for shares of Common
Stock, or issue any Common Stock Equivalents, to all of its holders of Common
Stock, then on the record date for such payment, distribution or offer or, in
the absence of a record date, on the date of such payment, distribution or
offer, the Holder shall receive what the Holder would have received had it
exercised this Warrant in full immediately prior to the record date of such
payment, distribution or offer or, in the absence of a record date, immediately
prior to the date of such payment, distribution or offer.

(d)Adjustment of Warrant Share Number. Upon each
adjustment in the Warrant Price pursuant to any of the foregoing provisions of
this Section 4, the Warrant Share Number shall be adjusted, to the nearest one
hundredth of a whole share, to the product obtained by multiplying the Warrant
Share Number immediately prior to such adjustment in the Warrant Price by a
fraction, the numerator of which shall be the Warrant Price immediately before
giving effect to such adjustment and the denominator of which shall be the
Warrant Price immediately after giving effect to such adjustment. If the Issuer
shall be in default under any provision contained in Section 3 of this Warrant
so that shares issued at the Warrant Price adjusted in accordance with this
Section 4 would not be validly issued, the adjustment of the Warrant Share
Number provided for in the foregoing sentence shall nonetheless be made and the
Holder of this Warrant shall be entitled to purchase such greater number of
shares at the lowest price at which such shares may then be validly issued under
applicable law. Such exercise shall not constitute a waiver of any claim arising
against the Issuer by reason of its default under Section 3 of this Warrant.

(e)Form of Warrant after Adjustments. The form of
this Warrant need not be changed because of any adjustments in the Warrant Price
or the number and kind of Securities purchasable upon the exercise of this
Warrant.

5.Notice of Adjustments. Whenever the Warrant
Price or Warrant Share Number shall be adjusted pursuant to Section 4 hereof
(for purposes of this Section 5, each an "adjustment"), the Issuer shall cause
its Chief Financial Officer to prepare and execute a certificate setting forth,
in reasonable detail, the event requiring the adjustment, the amount of the
adjustment, the method by which such adjustment was calculated (including a
description of the basis on which the Board made any determination hereunder),
and the Warrant Price and Warrant Share Number after giving effect to such
adjustment, and shall cause copies of such certificate to be delivered to the
Holder of this Warrant promptly after each adjustment. 

6.Fractional Shares. No fractional shares of
Warrant Stock will be issued in connection with and exercise hereof, but in lieu
of such fractional shares, the Issuer shall make a cash payment therefor equal
in amount to the product of the applicable fraction multiplied by the Per Share
Market Value then in effect.

7.Definitions. For the purposes of this Warrant,
the following terms have the following meanings:
"Additional Shares of Common Stock" means all shares of
Common Stock issued by the Issuer after the Original Issue Date, and all shares
of Other Common, if any, issued by the Issuer after the Original Issue Date,
except Warrant Stock.

"Board" means the Board of Directors of the Issuer.

"Capital Stock" means and includes (i) any and all shares,
interests, participations or other equivalents of or interests in (however
designated) corporate stock, including, without limitation, shares of preferred
or preference stock, (ii) all partnership interests (whether general or limited)
in any Person which is a partnership, (iii) all membership interests or limited
liability company interests in any limited liability company, and (iv) all
equity or ownership interests in any Person of any other type.

"Common Stock" means the Common Stock, $0.01 par value, of
the Issuer and any other Capital Stock into which such stock may hereafter be
changed.

"Common Stock Equivalent" means any Convertible Security or
warrant, option or other right to subscribe for or purchase any Additional
Shares of Common Stock or any Convertible Security (other than a warrant or
stock option issued pursuant to any stock or option or similar equity-based
compensation plan for employees, officers, directors or consultants). 

"Convertible Securities" means evidences of indebtedness,
shares of Capital Stock or other Securities which are or may be at any time
convertible into or exchangeable for Additional Shares of Common Stock. The term
"Convertible Security" means one of the Convertible Securities.

"Governmental Authority" means any governmental, regulatory
or self-regulatory entity, department, body, official, authority, commission,
board, agency or instrumentality, whether federal, state or local, and whether
domestic or foreign.

"Holders" mean the Persons who shall from time to time own
any Warrant. The term "Holder" means one of the Holders.

"Independent Appraiser" means a nationally recognized or
major regional investment banking firm or firm of independent certified public
accountants of recognized standing (which may be the firm that regularly
examines the financial statements of the Issuer) that is regularly engaged in
the business of appraising the Capital Stock or assets of corporations or other
entities as going concerns, and which is not affiliated with either the Issuer
or the Holder of any Warrant.

"Issuer" means Centura Software Corporation, a Delaware
corporation, and its successors. 

"Majority Holders" means at any time the Holders of Warrants
exercisable for a majority of the shares of Warrant Stock issuable under the
Warrants at the time outstanding.

"NASDAQ" means the National Association of Securities Dealers
Automated Quotation System.

"Original Issue Date" means September 12,2000.

"Other Common" means any other Capital Stock of the Issuer of
any class which shall be authorized at any time after the date of this Warrant
(other than Common Stock) and which shall have the right to participate in the
distribution of earnings and assets of the Issuer without limitation as to
amount.

"Person" means an individual, corporation, limited liability
company, partnership, joint stock company, trust, unincorporated organization,
joint venture, Governmental Authority or other entity of whatever nature.

"Per Share Market Value" means on any particular date (a) the
closing price per share of the Common Stock on such date on the Nasdaq National
Market, The Nasdaq SmallCap Market or other registered national stock exchange
on which the Common Stock is then listed or if there is no such price on such
date, then the closing price on such exchange or quotation system on the date
nearest preceding such date, or (b) if the Common Stock is not listed then on
the Nasdaq National Market, The Nasdaq SmallCap Market or any registered
national stock exchange, the closing price for a share of Common Stock in the
over-the-counter market, as reported by NASDAQ or in the National Quotation
Bureau Incorporated or similar organization or agency succeeding to its
functions of reporting prices) at the close of business on such date, or (c) if
the Common Stock is not then reported by the National Quotation Bureau
Incorporated (or similar organization or agency succeeding to its functions of
reporting prices), then the average of the "Pink Sheet" quotes for the relevant
conversion period, as determined in good faith by the holder, or (d) if the
Common Stock is not then publicly traded the fair market value of a share of
Common Stock as determined by an Independent Appraiser selected in good faith by
the Majority Holders; provided, however, that the Issuer, after
receipt of the determination by such Independent Appraiser, shall have the right
to select an additional Independent Appraiser, in which case, the fair market
value shall be equal to the average of the determinations by each such
Independent Appraiser; and provided, further that all
determinations of the Per Share Market Value shall be appropriately adjusted for
any stock dividends, stock splits or other similar transactions during such
period. The determination of fair market value by an Independent Appraiser shall
be based upon the fair market value of the Issuer determined on a going concern
basis as between a willing buyer and a willing seller and taking into account
all relevant factors determinative of value, and shall be final and binding on
all parties. In determining the fair market value of any shares of Common Stock,
no consideration shall be given to any restrictions on transfer of the Common
Stock imposed by agreement or by federal or state securities laws, or to the
existence or absence of, or any limitations on, voting rights. 

"Securities" means any debt or equity securities of the
Issuer, whether now or hereafter authorized, any instrument convertible into or
exchangeable for Securities or a Security, and any option, warrant or other
right to purchase or acquire any Security. "Security" means one of the
Securities.

"Securities Act" means the Securities Act of 1933, as
amended, or any similar federal statute then in effect.

"Subsidiary" means any corporation at least 50% of whose
outstanding Voting Stock shall at the time be owned directly or indirectly by
the Issuer or by one or more of its Subsidiaries, or by the Issuer and one or
more of its Subsidiaries.

"Trading Day" means (a) a day on which the Common Stock is
traded on the Nasdaq National Market, The Nasdaq SmallCap Market or other
registered national stock exchange on which the Common Stock has been listed, or
(b) if the Common Stock is not listed on the Nasdaq National Market, The Nasdaq
SmallCap Market or any registered national stock exchange, a day or which the
Common Stock is traded in the over-the-counter market, as reported by the OTC
Bulletin Board, or (c) if the Common Stock is not quoted on the OTC Bulletin
Board, a day on which the Common Stock is quoted in the over-the-counter market
as reported by the National Quotation Bureau Incorporated (or any similar
organization or agency succeeding its functions of reporting prices);
provided, however, that in the event that the Common Stock is not
listed or quoted as set forth in (a), (b) and (c) hereof, then Trading Day shall
mean any day except Saturday, Sunday and any day which shall be a legal holiday
or a day on which banking institutions in the State of New York are authorized
or required by law or other government action to close.

"Term" has the meaning specified in Section 1 hereof.

"Voting Stock", as applied to the Capital Stock of any
corporation, means Capital Stock of any class or classes (however designated)
having ordinary voting power for the election of a majority of the members of
the Board of Directors (or other governing body) of such corporation, other than
Capital Stock having such power only by reason of the happening of a
contingency.

"Warrant Price" means $5.0809 as such price may be adjusted
from time to time as shall result from the adjustments specified in Section 4
hereof.

"Warrant Share Number" means at any time the aggregate number
of shares of Warrant Stock which may at such time be purchased upon exercise of
this Warrant, after giving effect to all prior adjustments and increases to such
number made or required to be made under the terms hereof.

"Warrant Stock" means Common Stock issuable upon exercise of
any Warrant or Warrants or otherwise issuable pursuant to any Warrant or
Warrants.

8.Other Notices. In case at any time:
(A)the Issuer shall make any distributions to the holders
of Common Stock; or

(B)the Issuer shall authorize the granting to all holders
of its Common Stock of rights to subscribe for or purchase any shares of Capital
Stock of any class or of any Common Stock Equivalents or Convertible Securities
or other rights; or

(C)there shall be any reclassification of the Capital
Stock of the Issuer; or

(D)there shall be any capital reorganization by the
Issuer; or

(E)there shall be any (i) consolidation or merger
involving the Issuer or (ii) sale, transfer or other disposition of all or
substantially all of the Issuer's property, assets or business (except a merger
or other reorganization in which the Issuer shall be the surviving corporation
and its shares of Capital Stock shall continue to be outstanding and unchanged
and except a consolidation, merger, sale, transfer or other disposition
involving a wholly-owned Subsidiary); or

(F)there shall be a voluntary or involuntary dissolution,
liquidation or winding-up of the Issuer or any partial liquidation of the Issuer
or distribution to holders of Common Stock;

then, in each of such cases, the Issuer shall give written
notice to the Holder of the date on which (i) the books of the Issuer shall
close or a record shall be taken for such dividend, distribution or subscription
rights or (ii) such reorganization, reclassification, consolidation, merger,
disposition, dissolution, liquidation or winding-up, as the case may be, shall
take place. Such notice also shall specify the date as of which the holders of
Common Stock of record shall participate in such dividend, distribution or
subscription rights, or shall be entitled to exchange their certificates for
Common Stock for securities or other property deliverable upon such
reorganization, reclassification, consolidation, merger, disposition,
dissolution, liquidation or winding-up, as the case may be. Such notice shall be
given at least twenty days prior to the action in question and not less than
twenty days prior to the record date or the date on which the Issuer's transfer
books are closed in respect thereto. The Issuer shall give to the Holder notice
of all meetings and actions by written consent of its stockholders, at the same
time in the same manner as notice of any meetings of stockholders is required to
be given to stockholders who do not waive such notice (or, if such requires no
notice, then two Trading Days written notice thereof describing the matters upon
which action is to be taken). The Holder shall have the right to send two
representatives selected by it to each meeting, who shall be permitted to
attend, but not vote at, such meeting and any adjournments thereof. This Warrant
entitles the Holder to receive copies of all financial and other information
distributed or required to be distributed to the holders of the Common
Stock.

9.Amendment and Waiver. Any term, covenant,
agreement or condition in this Warrant may be amended, or compliance therewith
may be waived (either generally or in a particular instance and either
retroactively or prospectively), by a written instrument or written instruments
executed by the Issuer and the Majority Holders; provided,
however, that no such amendment or waiver shall reduce the Warrant Share
number, increase the Warrant Price, shorten the period during which this Warrant
may be exercised or modify any provision of this Section 9 without the consent
of the Holder of this Warrant.

10.Governing Law. THIS WARRANT SHALL BE GOVERNED
BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, WITHOUT
GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW.

11.Notices. Any and all notices or other
communications or deliveries required or permitted to be provided hereunder
shall be in writing and shall be deemed given and effective on the earlier of
(i) the date of transmission, if such notice or communication is delivered via
facsimile at the facsimile telephone number specified for notice prior to 5:00
p.m., Pacific Standard time, on a Business Day, (ii) the Business Day after the
date of transmission, if such notice or communication is delivered via facsimile
at the facsimile telephone number specified for notice later than 5:00 p.m.,
Pacific Standard time, on any date and earlier than 11:59 p.m., Pacific Standard
time, on such date, (iii) the Business Day following the date of mailing, if
sent by nationally recognized overnight courier service or (iv) actual receipt
by the party to whom such notice is required to be given. The addresses for such
communications shall be with respect to the Holder of this Warrant or of Warrant
Stock issued pursuant hereto, addressed to such Holder at its last known address
or facsimile number appearing on the books of the Issuer maintained for such
purposes, or with respect to the Issuer, addressed to:

Centura Software Corporation

    975 Island Drive

    Redwood Shores, CA 94065

    Attention: Chief Financial Officer

    Facsimile No.: (650) 596-4334

or to such other address or addresses or facsimile number or
numbers as any such party may most recently have designated in writing to the
other parties hereto by such notice. Copies of notices to the Holder shall be
sent to Bryan Cave LLP, 700 Thirteenth Street, N.W., Washington, D.C. 20005,
Attention: LaDawn Naegle, facsimile no.: (202) 508-6200. Copies of notices to
the Issuer shall be sent to Orrick, Herrington & Sutcliffe LLP, Old Federal
Reserve Bank Building, 400 Sansome Street, San Francisco, California 94111,
Attention: Richard Grey, facsimile no.: (415) 773-5759.

12.Warrant Agent. The Issuer may, by written
notice to each Holder of this Warrant, appoint an agent having an office in New
York, New York for the purpose of issuing shares of Warrant Stock on the
exercise of this Warrant pursuant to subsection (b) of Section 2 hereof,
exchanging this Warrant pursuant to subsection (d) of Section 2 hereof or
replacing this Warrant pursuant to subsection (d) of Section 3 hereof, or any of
the foregoing, and thereafter any such issuance, exchange or replacement, as the
case may be, shall be made at such office by such agent.

13.Remedies. The Issuer stipulates that the
remedies at law of the Holder of this Warrant in the event of any default or
threatened default by the Issuer in the performance of or compliance with any of
the terms of this Warrant are not and will not be adequate and that, to the
fullest extent permitted by law, such terms may be specifically enforced by a
decree for the specific performance of any agreement contained herein or by an
injunction against a violation of any of the terms hereof or otherwise.

14.Successors and Assigns. This Warrant and the
rights evidenced hereby shall inure to the benefit of and be binding upon the
successors and assigns of the Issuer, the Holder hereof and (to the extent
provided herein) the Holders of Warrant Stock issued pursuant hereto, and shall
be enforceable by any such Holder or Holder of Warrant Stock.

15.Modification and Severability. If, in any
action before any court or agency legally empowered to enforce any provision
contained herein, any provision hereof is found to be unenforceable, then such
provision shall be deemed modified to the extent necessary to make it
enforceable by such court or agency. If any such provision is not enforceable as
set forth in the preceding sentence, the unenforceability of such provision
shall not affect the other provisions of this Warrant, but this Warrant shall be
construed as if such unenforceable provision had never been contained
herein.

16.Headings. The headings of the Sections of this
Warrant are for convenience of reference only and shall not, for any purpose, be
deemed a part of this Warrant.

  

WITNESS WHEREOF, the Issuer has executed this Warrant as of
the day and year first above written.
CENTURA SOFTWARE CORPORATION

  
By: /s/ Richard Lucien

Name: Richard Lucien

Title:Senior Vice President and Chief Financial Officer 

 

 

NOTICE OF EXERCISE

(To be signed only upon exercise of Warrant)

 

To CENTURA SOFTWARE CORPORATION:

The undersigned, the holder of the within Warrant, hereby irrevocably
elects to exercise the purchase right represented by such Warrant for, and to
purchase
thereunder,          
shares of Common Stock of CENTURA SOFTWARE CORPORATION and herewith (a)
makes payment of $          
therefor, or (b) exercises Warrants with a Per Share Market Value of $ . The
undersigned requests that the certificates for such shares be issued in the name
of, and delivered to,           ,
whose address is       
           . 

 

Dated: ____________,
20____________________________________________
(Signature must conform in all respects to name of

holder as specified on the face of the Warrant)

 

__________________________________________

(Address)

 

 

ASSIGNMENT

(To be signed only upon transfer of Warrant)

 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
all of the rights of the undersigned under the within Warrant, with respect to
the number of shares of Common Stock of CENTURA SOFTWARE CORPORATION covered
thereby set forth hereinbelow unto:

 

	
Name of Assignee
	
Address
	
No. of Shares

	
 
	
 
	
 

	
 
	
 
	
 

Dated: __________,
20____________________________________________
(Signature must conform in all respects to name of holder as specified on the
face of the Warrant)

 

__________________________________________

(Address)

 

Signed in the presence of:

 

________________________________

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