Document:

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                                                                    Exhibit 10.2

                                                                    CONFIDENTIAL
                            CROSS-LICENSE AGREEMENT

        THIS CROSS-LICENSE AGREEMENT and all Exhibits attached hereto which are
hereby incorporated by reference (this "Agreement") is entered into as of March
12, 2001 (the "Effective Date") by and among ACLARA BIOSCIENCES, INC., a
Delaware corporation having its principal place of business at 1288 Pear Avenue,
Mountain View, California 94043 (collectively with all wholly-owned subsidiaries
of ACLARA BioSciences, Inc., "Aclara"), and CALIPER TECHNOLOGIES CORP., a
Delaware corporation having its principal place of business at 605 Fairchild
Drive, Mountain View, California 94043 (collectively with all wholly-owned
subsidiaries of Caliper Technologies Corp., "Caliper").

                                    RECITALS

        WHEREAS, Aclara and Caliper have entered into that certain Settlement
Agreement, dated as of even date herewith ("Settlement Agreement"), and that
certain Common Stock Issuance Agreement ("Common Stock Issuance Agreement"),
dated as of even date herewith, pursuant to which the Parties effectively
resolved various disputes between Aclara and Caliper;

        WHEREAS, pursuant to the Settlement Agreement, the Parties have agreed
to enter into a cross license agreement regarding certain patent rights;

        WHEREAS, Aclara wishes to grant to Caliper a license to certain Aclara
patents, subject to the terms and conditions set forth herein; and

        WHEREAS, Caliper wishes to grant to Aclara a license to certain patents
that Caliper has licensed from a third party, subject to the terms and
conditions set forth herein;

        NOW, THEREFORE, in consideration of the mutual covenants and
consideration herein expressed, the sufficiency of which is hereby acknowledged,
Aclara and Caliper agree as follows:

                                    AGREEMENT

1. DEFINITIONS

        For purposes of this Agreement, the following terms shall have the
following meanings:

        1.1 "'022 PATENT FAMILY" shall mean (a) United States Patent No. ***
(the "`022 Patent"); (b) any Patent that directly claims priority to the `022
Patent (e.g., as a continuation, in-whole or in-part, divisional, reexamination,
or reissue of the `022 Patent); and (c) any Patent that indirectly claims
priority to the `022 Patent (e.g., any Patent claiming priority to one or more
Patents that directly or indirectly claim priority to the `022 Patent), and any
Foreign Counterparts

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with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions.

Confidential treatment has been requested for portions of this exhibit. The copy
filed herewith omits the information subject to the confidentiality request.
Omissions are designated as ***. A complete version of this exhibit has been
filed separately with the Securities and Exchange Commission.

                                       1.
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                                                                    CONFIDENTIAL

of any of the foregoing. The `022 Patent Family includes, without limitation,
United States Patent ***, and any continuations, in whole or in part, divisions,
reissues, reexamination, renewals, substitutions, confirmations, registrations,
revalidations, revisions, extensions and Foreign Counterparts of the foregoing
Patents.

        1.2 "ACLARA FIELD OF USE" shall mean any and all fields, except for ***.

        1.3 "ACLARA LICENSED INSTRUMENT" shall mean an ***, including those
specifically identified and described in Exhibit A (but excluding, in any event,
any microfluidic Chip, as defined in Section 1.4 below) (a) the manufacture, use
(in the manner intended) or sale of which, by Aclara or any third party, would
infringe a Valid Claim of a Patent in the Ramsey Patent Family in the country of
such manufacture, use or sale, absent a license, or (b) that is designed or used
(in the manner intended), by Aclara or any third party, to perform a method that
would infringe a Valid Claim of a Patent in the Ramsey Patent Family in the
country where such method is performed, absent a license.

        1.4 "ACLARA LICENSED LABCARD" shall mean a microfluidic chip or card,
regardless of its size or thickness ("Chip"), constructed from ***, including
but not limited to the types of Chips illustrated in Figures 1 and 2 on Exhibit
A, (a) the manufacture, use (in the manner intended) or sale of which, by Aclara
or any third party, would infringe a Valid Claim of a Patent in the Ramsey
Patent Family in the country of such manufacture, use or sale, absent a license,
or (b) that is designed or used (in the manner intended), by Aclara or any third
party, to perform a method that would infringe a Valid Claim of a Patent in the
Ramsey Patent Family in the country where such method is performed, absent a
license.

        1.5 "ACLARA LICENSED PRODUCT" shall mean an Aclara Licensed Instrument
and/or an Aclara Licensed LabCard, as applicable.

        1.6 "ACLARA PRODUCT" shall mean an Aclara Licensed Product:

               (a) that is (i) supplied commercially by Aclara to end users (or
otherwise used in connection with a service bureau, contract research or similar
business), either directly or through distributors, subdistributors or
commercial partners or collaborators and either manufactured by Aclara or on
Aclara's behalf by a third party, or (ii) a product for which Aclara receives
revenues *** generated by and attributable to such product (which revenues ***
shall exclude amounts attributable to separate products or components); and

               (b) for which Aclara and Aclara's Controlled Subsidiaries
collectively provide *** of the total (i) costs and expenditures (including
direct costs, reasonably allocable overhead and other indirect costs, except
when calculating costs and expenditures of third parties, in which case only the
contracted for costs and expenditures shall be taken into account), including,
without limitation research and development funding and costs of purchasing or
licensing rights for such product in development; or (ii) personnel time, in
each case, expended to research and develop such Aclara Licensed Product. For
clarification and not in expansion or limitation of the

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with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions.

                                       2.
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                                                                    CONFIDENTIAL

foregoing, such total costs, expenditures and personnel time shall exclude
amounts attributable to separate products or components and amounts attributable
to the research and development of core technology (including, without
limitation, core manufacturing technology) but shall include amounts
attributable to the research and development of technology specific to the
applicable Aclara Licensed Product (including, without limitation, manufacturing
technology specific to such product). For purposes of this Section 1.6(b), it
shall be presumed that amounts expended by a third party in connection with the
research and development of an Aclara Licensed Product or manufacturing
technology therefor ***.

        For clarification and not in expansion or limitation of the foregoing,
subclause (a)(i) shall be met even if, and notwithstanding the fact that, Aclara
initially commercially supplies, either directly or through distributors,
subdistributors or commercial partners or collaborators, or manufactures itself
or has manufactured on its behalf by a third party, an Aclara Licensed Product
and then, because Aclara is unable to meet such supply or manufacturing
obligations despite its good faith efforts, such product is subsequently
supplied commercially or manufactured by a commercial partner or collaborator.

        1.7 "ACLARA SYSTEM" shall mean a product that includes at least one
Aclara Product and at least one other component or product which together
perform one or more functions, biochemical or chemical manipulations or series
thereof or other tasks or experiments.

        1.8 "ADR PROCEDURE" shall mean the alternative dispute resolution
procedures set forth in Sections 20 and 21 of the Settlement Agreement.

        1.9 "CALIPER LICENSED INSTRUMENT" shall mean an *** (but excluding, in
any event, any microfluidic Chip) (a) the manufacture, use (in the manner
intended) or sale of which, by Caliper or any third party, would infringe a
Valid Claim of a Patent in the `022 Patent Family in the country of such
manufacture, use or sale, absent a license, or (b) that is designed or used (in
the manner intended), by Caliper or any third party, to perform a method that
would infringe a Valid Claim of a Patent in the `022 Patent Family in the
country where such method is performed, absent a license.

        1.10 "CALIPER LICENSED LABCHIP" shall mean a microfluidic Chip
constructed from ***, (a) the manufacture, use (in the manner intended) or
sale of which, by Caliper or any third party, would infringe a Valid Claim of a
Patent in the `022 Patent Family in the country of such manufacture, use or
sale, absent a license, or (b) that is designed or used (in the manner
intended), by Caliper or any third party, to perform a method that would
infringe a Valid Claim of a Patent in the `022 Patent Family in the country
where such method is performed, absent a license. Caliper Licensed LabChips
include, without limitation, Chips constructed from ***, but Caliper Licensed
LabChips shall not include a Chip wherein *** or a Chip ***.

        1.11 "CALIPER LICENSED PRODUCT" shall mean a Caliper Licensed Instrument
and/or a Caliper Licensed LabChip, as applicable.

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requested with respect to the omitted portions.

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                                                                    CONFIDENTIAL

        1.12 "CALIPER PRODUCT" shall mean a Caliper Licensed Product:

               (a) that is (i) supplied commercially by Caliper to end users (or
otherwise used in connection with a service bureau, contract research or similar
business), either directly or through distributors, subdistributors or
commercial partners or collaborators and either manufactured by Caliper or on
Caliper's behalf by a third party, or (ii) a product for which Caliper receives
revenues * * * generated by and attributable to such product (which revenues * *
* shall exclude amounts attributable to separate products or components); and

               (b) for which Caliper and Caliper's Controlled Subsidiaries
collectively provide *** of the total (i) costs and expenditures (including
direct costs, reasonably allocable overhead and other indirect costs, except
when calculating costs and expenditures of third parties, in which case only the
contracted for costs and expenditures shall be taken into account), including,
without limitation research and development funding and costs of purchasing or
licensing rights for such product in development; or (ii) personnel time, in
each case, expended to research and develop such Caliper Licensed Product. For
clarification and not in expansion or limitation of the foregoing, such total
costs, expenditures and personnel time shall exclude amounts attributable to
separate products or components and amounts attributable to the research and
development of core technology (including, without limitation, core
manufacturing technology) but shall include amounts attributable to the research
and development of technology specific to the applicable Caliper Licensed
Product (including, without limitation, manufacturing technology specific to
such product). For purposes of this Section 1.12(b), it shall be presumed that
amounts expended by a third party in connection with the research and
development of a Caliper Licensed Product or manufacturing technology therefor
***.

        For clarification and not in expansion or limitation of the foregoing,
subclause (a)(i) shall be met even if, and notwithstanding the fact that,
Caliper initially commercially supplies, either directly or through
distributors, subdistributors or commercial partners or collaborators, or
manufactures itself or has manufactured on its behalf by a third party, a
Caliper Licensed Product and then, because Caliper is unable to meet such supply
or manufacturing obligations despite its good faith efforts, such product is
subsequently supplied commercially or manufactured by a commercial partner or
collaborator.

        1.13 "CALIPER SYSTEM" shall mean a product that includes at least one
Caliper Product and at least one other component or product which together
perform one or more functions, biochemical or chemical manipulations or series
thereof or other tasks or experiments.

        1.14 "CHANGE IN CONTROL" shall mean, as to a Party, any acquisition of
securities, merger, consolidation, reorganization, proxy contest or other
transaction or event involving such Party's microfluidic systems line of
business or its securities (or any series of related transactions or events) as
a result of which any entity or person (or any group of related entities or
persons) that did not directly or indirectly Control such Party or such Party's
microfluidic systems line of business prior to the transaction or event (or
series of transactions or events) thereafter directly or indirectly Controls
such Party or such Party's microfluidic systems line of business. Change in

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requested with respect to the omitted portions.

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                                                                    CONFIDENTIAL

Control of a Party includes, without limitation, the acquisition by another
entity (whether directly or indirectly, and whether alone or in combination with
related entities) of (a) more than fifty percent (50%) of the voting securities
of such Party or of any entity that Controls such Party, or (b) of the right
(whether directly or indirectly, and whether alone or in combination with
related entities) or power to direct or cause the direction of management or
policies of the entity in question (whether through ownership of securities or
other ownership interests, by contract or otherwise).

        1.15 "CONTROL" (including, with correlative meanings, "Controlled,"
"Controls" and other forms) shall mean, (a) as to an entity, (i) direct or
indirect ownership of fifty percent (50%) or more of the voting securities or
other ownership interest in the entity in question; or (ii) possession, directly
or indirectly, of the power to direct or cause the direction of management or
policies of the entity in question (whether through ownership of securities or
other ownership interests, by contract or otherwise), and (b) as to a Party's
microfluidic systems line of business, ownership of all or substantially all of
the assets relating thereto.

        1.16 "CONTROLLED SUBSIDIARY" shall mean, as to a Party, an entity with
respect to which such Party directly owns more than fifty percent (50%) (or the
maximum ownership interest permitted by applicable law in the jurisdiction of
incorporation or, if not incorporated, of formation, if fifty percent (50%) or
less) of the voting securities or other ownership interest of the entity in
question.

        1.17 "COPIED CLAIM" shall mean a Patent claim copied from another Patent
claim so that it is the same as, or for substantially the same subject matter
as, the other Patent claim, as determined under Title 35 United States Code
Section 135(b).

        1.18 "***" shall have the meaning assigned to it in Section 1.20.

        1.19 "CURRENT ACLARA LICENSED INSTRUMENT" shall mean the first
commercially released version of any Aclara Licensed Instrument which is the
subject of an on-going development program of Aclara as of the Effective Date, *
* *. Current Aclara Licensed Instruments will also include (a) any minor fixes
or improvements to, or optimizations of any of the foregoing, (b) add-on modules
to any of the foregoing in active development ***, and (c) add-on modules to any
of the foregoing which are priced at *** of the retail price of the Current
Aclara Licensed Instrument to which such add-on module relates.

        1.20 "***" shall mean microfluidic channel structures that consist of
***, including, without limitation, the structure(s) labeled "***" shown in
Exhibit B; a * * * is contrasted to and does not include *** that consist of a
***, including, without limitation, the structure(s) labeled "***" described in
Exhibit B (hereinafter the "***").

        1.21 "FOREIGN COUNTERPART" shall mean, as to a United States patent, any
foreign Patent filed outside the United States (a) that directly or indirectly
claims priority to an

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requested with respect to the omitted portions.

                                       5.
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                                                                    CONFIDENTIAL

application that gave rise to such United States patent, or (b) provides
priority to such application.

        1.22 "FUTURE ACLARA LICENSED INSTRUMENT" shall mean all Aclara Licensed
Instruments other than Current Aclara Licensed Instruments, including, without
limitation, any substantially redesigned or re-engineered version of a Current
Aclara Licensed Instrument, or a version of an Aclara Licensed Instrument which
is identified to customers by the marketing Party as a separate and distinct
product from a Current Aclara Licensed Instrument.

        1.23 "INTERFERENCE" shall mean a proceeding in accordance with Title 35
United States Code Section 135 in which the United States Board of Patent
Appeals and Interferences determines questions of Priority of Invention between
Patent claims in an issued United States patent and/or one or more patent
applications filed in the United States.

        1.24 "NET SALES" shall mean the gross amount billed or invoiced *** for
Aclara Licensed Products, which gross amount is billed or invoiced by Aclara, a
Sublicensee of Aclara or a commercial partner or collaborator of Aclara
(provided that Net Sales shall not include amounts billed or invoiced (i) ***,
(ii) *** (iii) for Aclara Licensed Products that would not meet the definition
of Aclara Licensed Products but for a modification or use of such products by
the end-user other than in the manner intended in good faith by Aclara), less
the following deductions: ***. "Net Sales" shall not include, to the extent
reasonable under the circumstances, ***. Furthermore, "Net Sales" shall not
include ***. In the event Aclara or a Sublicensee uses an Aclara Licensed
Product for revenue generating commercial purpose, e.g., in a service or
information business, Net Sales shall be set at *** as mutually determined by
the Parties or in accordance with the ADR Procedure if the Parties are unable to
reach agreement ***.

        1.25 "OAK RIDGE AGREEMENTS" shall mean those certain Sole Commercial
Patent License Agreements, each dated as of September 1, 1995 (one regarding
patent rights within the United States and the other regarding patent rights
outside the United States), originally between Lockheed Martin Energy Systems,
Inc. and Caliper subsequently assigned from Lockheed Martin Energy Systems, Inc.
to UT-Battele, LLC, as subsequently amended, together with any attachments or
addenda thereto.

        1.26 "PARTY" shall mean either Aclara or Caliper, and "Parties" shall
mean Aclara and Caliper.

        1.27 "PATENT" shall mean all patents, inventor's certificates and patent
applications throughout the world, including any renewal, division, continuation
(in-whole or in-part), or continued prosecution application of any of such
certificates and applications, and any and all patents issuing thereon, and any
and all reissues, extensions, substitutions, confirmations, registrations,
revalidations, revisions, Foreign Counterparts and additions of or to any of the
foregoing.

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                                                                    CONFIDENTIAL

        1.28 "PRIORITY OF INVENTION" shall mean priority of invention as
determined under 35 United States Code Section 102(g).

        1.29 "RAMSEY PATENT FAMILY" shall mean, to the extent of Caliper's
rights under the Oak Ridge Agreements to sublicense rights in, to, and under the
following, (a) United States Patent No. * * * (the "`229 Patent"); (b) any
Patent that directly claims priority to the `229 Patent (e.g., as a
continuation, in-whole or in-part, divisional, reexamination, or reissue of the
`229 Patent); and (c) any Patent that directly or indirectly claims priority to
the `229 Patent (e.g., any Patent claiming priority to one or more Patents that
directly or indirectly claim priority to the `229 Patent), and any Foreign
Counterparts to any of the foregoing. The Ramsey Patent Family shall include,
without limitation, United States Patent * * *, and any continuations, in whole
or in part, divisions, reissues, reexamination, renewals, substitutions,
confirmations, registrations, revalidations, revisions, extensions and Foreign
Counterparts of any of the foregoing Patents. For clarification, a Patent shall
be deemed a Patent in the Ramsey Patent Family only to the extent and only so
long as Caliper has rights under the Oak Ridge Agreements to sublicense rights
in, to and under the Ramsey Patent Family with respect to such Patent.

        1.30 "SUBLICENSEE" shall mean any third party to whom Aclara or Caliper,
as the case may be, have sublicensed any or all of the rights licensed hereunder
pursuant to Section 2.1.2 or 2.2.2, as applicable, excluding third parties who
are sublicensed such rights solely pursuant to the last sentence of Section
2.1.2 or 2.2.2, as applicable.

        1.31 "VALID CLAIM" shall mean any claim of an issued and unexpired
patent which has not been (a) found or held unenforceable or invalid in any
alternative dispute resolution proceedings pursuant to the ADR Procedure, or by
a court or other governmental agency of competent jurisdiction, regardless of
whether or not such finding or holding has been appealed or is appealable,
provided, however, that if such finding or holding is subsequently overturned
upon an appeal (the "Appeal Decision"), such claim shall again be deemed a Valid
Claim as of the effective date of the Appeal Decision, or (b) abandoned,
disclaimed or admitted to be invalid or unenforceable through reissue,
disclaimer or otherwise.

        * * *

2. LICENSES

        2.1 LICENSE GRANT BY ACLARA.

               2.1.1 Subject to the terms and conditions of this Agreement,
Aclara hereby grants to Caliper a *** license under all of its right, title
and interest in, to and under the `022 Patent Family to make, use, sell, offer
to sell, and import Caliper Licensed Products.

               2.1.2 Subject to the terms and conditions of this Agreement,
Caliper may sublicense any or all of the rights granted to it by Aclara in
Section 2.1.1 solely to third parties engaged with or by Caliper in the
research, development, manufacture or sale of a Caliper

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                                                                    CONFIDENTIAL

System, or any component thereof (it being understood in the case of such
components that Caliper and such third parties need not be engaged in the
research development, manufacture or sale of the entire Caliper System itself,
or any part thereof, other than such component), provided that such sublicense
is limited solely to the grant of rights to be exercised (i) in connection with
the research, development, manufacture or sale of such Caliper System, or (ii)
in connection with the research, development, manufacture or sale of components
of such Caliper System solely to the extent that such components are researched,
developed, manufactured or sold in connection with or for use with such Caliper
System. Caliper may also sublicense the right to use Caliper Licensed Products
granted to it by Aclara in Section 2.1.1 to end users of Caliper Licensed
Products which are sold or supplied to such end user within the scope of the
licenses granted hereunder, to the extent necessary to permit such end user to
use such products in the manner intended.

               2.1.3 Subject to the terms and conditions of this Agreement,
Aclara hereby grants to Caliper a * * *, worldwide * * * license under all of
its right, title and interest in, to and under the `022 Patent Family solely to
make and use (specifically excluding any rights to sell, offer to sell or
import), microfluidic Chips which * * * ("Caliper R&D Chips"), solely for the
purpose of research and development of products and technologies to be
commercialized by Caliper itself, or in conjunction with others, but excluding
any research and development performed on behalf of, or for the benefit of,
other parties, including as part of a service business or contract research and
development business. Caliper may have the foregoing rights exercised on its
behalf by partners and collaborators participating with it in such permitted
research and development efforts, and may provide such partners and
collaborators with Caliper R&D Chips in connection with such efforts; provided,
however that Caliper has no right under this Section 2.1.3 to transfer Caliper
R&D Chips to any third party other than such partners and collaborators. Such
partners and collaborators have no rights under this Section 2.1.3 to transfer
such Caliper R&D Chips to any third parties. For clarification and not in
limitation or expansion of the rights granted under Section 2.1.1, Aclara agrees
and acknowledges that Caliper has the right under Section 2.1.1 to use Caliper
Licensed Instruments in connection with Caliper R&D Chips for purposes of
exercising the rights granted under this Section 2.1.3.

               2.1.4 In the event of a Change in Control of Caliper, regardless
of whether or not this Agreement is assigned in connection therewith under
Section 11.2, the licenses granted in this Section 2.1 shall not cover or extend
to any pre-existing products (that is, products already on the market or in
active development immediately prior to the date of such Change in Control) of
the party or parties gaining Control of Caliper, except to the extent such party
or parties are Sublicensees of Caliper prior to such Change in Control.

        2.2 LICENSE GRANT BY CALIPER.

               2.2.1 Subject to the terms and conditions of this Agreement,
Caliper hereby grants to Aclara * * * license under all of its right, title and
interest in, to and under the Ramsey Patent Family to make, use, sell, offer to
sell, and import Aclara Licensed Products in the Aclara Field of Use.

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                                                                    CONFIDENTIAL

               2.2.2 Subject to the terms and conditions of this Agreement,
Aclara may sublicense any or all of the rights granted to it by Caliper in
Section 2.2.1 solely to third parties engaged with or by Aclara in the research,
development, manufacture or sale of an Aclara System, or any component thereof
(it being understood in the case of such components that Aclara and such third
parties need not be engaged in the research development, manufacture or sale of
the entire Aclara System itself, or any part thereof, other than such
component), provided that such sublicense is limited solely to the grant of
rights to be exercised (i) in connection with the research, development,
manufacture or sale of such Aclara System, or (ii) in connection with the
research, development, manufacture or sale of components of such Aclara System,
solely to the extent that such components are researched, developed,
manufactured or sold in connection with or for use with such Aclara System.
Aclara may also sublicense the right to use Aclara Licensed Products granted to
it by Caliper in Section 2.2.1 to end users of Aclara Licensed Products which
are sold or supplied to such end user within the scope of the licenses granted
hereunder, to the extent necessary to permit such end user to use such products
in the manner intended.

               2.2.3 Subject to the terms and conditions of this Agreement,
Caliper hereby grants to Aclara a * * *, worldwide * * * license under all of
its right, title and interest in, to and under the Ramsey Patent Family solely
to make and use (specifically excluding any rights to sell, offer to sell or
import), microfluidic Chips which * * * ("Aclara R&D Chips"), solely for the
purpose of research and development of products and technologies to be
commercialized by Aclara itself, or in conjunction with others, but excluding
any research and development performed on behalf of, or for the benefit of,
other parties, including as part of a service business or contract research and
development business. Aclara may have the foregoing rights exercised on its
behalf by partners and collaborators participating with it in such permitted
research and development efforts, and may provide such partners and
collaborators with Aclara R&D Chips in connection with such efforts; provided,
however that Aclara has no right under this Section 2.2.3 to transfer Aclara R&D
Chips to any third party other than such partners and collaborators. Such
partners and collaborators have no rights under this Section 2.2.3 to transfer
such Aclara R&D Chips to any third parties. For clarification and not in
limitation or expansion of the rights granted under Section 2.2.1, Caliper
agrees and acknowledges that Aclara has the right under Section 2.2.1 to use
Aclara Licensed Instruments in connection with Aclara R&D Chips for purposes of
exercising the rights granted under this Section 2.2.3.

               2.2.4 In the event of a Change in Control of Aclara, regardless
of whether or not this Agreement is assigned in connection therewith under
Section 11.2, the licenses granted in this Section 2.2 and the corresponding
royalty obligations in Section 3 hereof shall not cover or extend to any
pre-existing products (that is, products already on the market or in active
development immediately prior to the date of such Change in Control) of the
party or parties gaining Control of Aclara, except to the extent such party or
parties are Sublicensees of Aclara prior to such Change in Control.

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                                                                    CONFIDENTIAL

               2.2.5 Without prejudice to Sections 6.1(vi) and 6.3 below, Aclara
and its Sublicensees agree that the rights granted by Caliper under this Section
2.2 are subject to the applicable terms and conditions of the Oak Ridge
Agreements.

        2.3 EXPANSION OF LICENSE GRANTS. If either Party identifies any
component or product which would be an Aclara Licensed Instrument or a Caliper
Licensed Instrument, as the case may be, but for the fact that ***, as
applicable, which license shall otherwise have the same scope, and be subject to
the same terms and conditions as the licenses granted in Sections 2.1 and 2.2
hereof, respectively.

        2.4 NO OTHER RIGHTS. Caliper acknowledges and agrees that Aclara shall
retain its rights in, to and under the `022 Patent Family, subject only to the
rights and licenses expressly granted herein. Except as expressly provided
herein, no right, title, or interest is granted by Aclara to Caliper in, to or
under the `022 Patent Family or any other Patents or rights. Aclara acknowledges
and agrees that Caliper shall retain its rights in, to and under the Ramsey
Patent Family, subject only to the rights and licenses expressly granted herein.
Except as expressly provided herein, no right, title, or interest is granted by
Caliper to Aclara in, to or under the Ramsey Patent Family or any other Patents
or rights.

        2.5 NO COVENANT NOT TO PRACTICE. Nothing in this Agreement shall be
construed as a covenant on the part of either Aclara or Caliper to refrain from
infringing (or contributorily infringing) any Patents in the Ramsey Patent
Family or the `022 Patent Family, respectively, or to refrain from practicing
any such Patent outside the scope of the licenses granted in Sections 2.1 and
2.2 hereof, respectively.

3. PAYMENTS AND RELATED OBLIGATIONS

        3.1 LICENSE FEE. The amount of five million dollars ($5,000,000.00)
payable to Caliper pursuant to Section 4(c) of the Settlement Agreement shall be
deemed to constitute partial consideration for the rights and licenses granted
pursuant to Section 2.2 above.

        3.2 ROYALTY PAYMENTS. In partial consideration of the rights and
licenses granted pursuant to Section 2.2 above and subject to any applicable
credits under Section 3.2.2:

               3.2.1 Aclara shall make running royalty payments on a quarterly
basis to Caliper, within *** of the end of each calendar quarter, as follows:

               3.2.1.1 For Aclara Licensed Instruments, Aclara shall pay to
Caliper a royalty of (a) *** of Net Sales of Current Aclara Licensed
Instruments, (b) *** of Net Sales of Future Aclara Licensed Instruments billed
or invoiced prior to the end of 2008, and (c) *** of Net Sales of Future
Aclara Licensed Instruments billed or invoiced any time after the end of 2008.

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                                       10.
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                                                                    CONFIDENTIAL

               3.2.1.2 For Aclara Licensed LabCards, Aclara shall pay to Caliper
a royalty of (a) *** of Net Sales of Aclara Licensed LabCards ***, and (b) ***
of Net Sales of other Aclara Licensed LabCards.

               3.2.2 Aclara shall pay to Caliper a minimum annual royalty
payment of ***, each such payment to be reduced by any royalty payments
previously made by Aclara pursuant to Section 3.2.1 with respect to such
calendar year and to be fully creditable (after any such reduction) against any
accrued but unpaid royalties otherwise owed by Aclara with respect to the
remainder of such calendar year. Aclara shall not be entitled to carry forward
any excess royalty payments made with respect to *** to satisfy its minimum
annual royalty obligations for *** or its other royalty obligations to Caliper
for *** or thereafter (except with respect to the application of the ***
minimum annual royalty to *** royalties as provided above). No minimum royalty
payment shall be due from Aclara to Caliper after the end of ***.

               3.2.3 Royalties shall be calculated in accordance with the terms
of this Agreement and United States generally accepted accounting procedures,
consistently applied, to the extent such accounting procedures do not conflict
and are not inconsistent with the terms of this Agreement. Interest shall accrue
on any delinquent payment at an annual rate equal to the sum of (i) *** and
(ii) ***, such accrual beginning on the date such payment was due under this
Agreement.

               3.2.4 For purposes of this Agreement, Aclara Licensed Products
shall be *** in accordance with Section 3, ***.

        3.3 COMBINATION PRODUCTS. If an Aclara Licensed Product is sold in
combination with another product or products where one or more of such products
are not Aclara Licensed Products (a "Combination Product") and could reasonably
be deemed to be separate product(s), Net Sales under such circumstances shall be
calculated by multiplying the Net Sales of the Combination Product (as defined
in the standard Net Sales definition) by the fraction, A/(A + B) where A is the
average sale price of the Aclara Licensed Product when sold separately and B is
the average sale price of the other product(s) when sold separately. When
determining the average sale price of a product, the average sale price shall be
calculated using data arising from the twelve (12) months preceding the
calculation. In the event that the average sale price of the products in a
Combination Product cannot reasonably be so determined, then Net Sales shall be
calculated by multiplying the Net Sales of the Combination Product by the
fraction, A/(A+B) where A is the fair market value of the Aclara Licensed
Product and B is the fair market value of the other product(s). The fair market
value of a product shall be determined by taking all relevant factors into
account, including, without limitation, any method of allocation used by Aclara
and/or its commercial partners for its or their own financial purposes. By way
of example, for purposes of the first sentence of this Section 3.3 and without
limiting the generality of such sentence, the Parties agree and acknowledge that
(a) ***, (b) ***, (c) ***, (d) ***, (e) ***, (f) ***, (g) ***, (h) ***, (i) ***,
(j) ***; all ((a) through (j)) can reasonably be deemed to be separate
product(s). For purposes of this Section 3.3, *** shall not be construed to
include***.

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                                                                    CONFIDENTIAL

        3.4 ROYALTY TERM. Aclara's obligation to pay royalties to Caliper under
Section 3.2, if any, shall commence on the Effective Date and continue until the
expiration, abandonment or final determination of invalidity or unenforceability
of the last Valid Claim in the Ramsey Patent Family.

        3.5 PAYMENT TERMS.

               3.5.1 METHOD OF PAYMENT; CURRENCY. All payments made by Aclara
under this Agreement shall be made in United States dollars, and such payments
shall be made by check or wire transfer to one or more bank accounts to be
designated in writing by Caliper. In the event that Aclara Licensed Products are
sold in currencies other than United States dollars, Net Sales shall be
calculated by Aclara by conversion of foreign currency to United States dollars
at the conversion rate existing in the United States (referencing the "United
States dollar noon buying rates", or its equivalent, published in the Wall
Street Journal) on the last working day of each period during which royalties
are calculated, net of applicable exchange related charges, or otherwise in
accordance with generally accepted accounting principles consistently applied.

               3.5.2 TAXES. All applicable sales, use, excise, value added,
withholding and similar taxes levied on account of the royalties accruing or
made to Caliper pursuant to the terms and conditions of this Agreement, other
than taxes on Caliper's net income, shall be paid by Aclara. If provision is
made in law or regulation for withholding of taxes of any type, levies or other
charges with respect to any royalty due and payable under this Agreement by
Aclara to Caliper, Aclara shall be entitled to deduct such tax, levy or charge
from the royalty to be made by Aclara and pay such tax, levy or charge to the
proper taxing authority. Aclara shall provide Caliper with prompt notice of the
taking of any such deduction. Aclara shall deliver to Caliper a receipt of
payment of any such tax, levy or charge. At Caliper's request and at Aclara's
expense, Aclara shall provide reasonable assistance to Caliper in any effort by
Caliper in claiming any exemption from such deductions or withholdings under any
double taxation or similar agreement or treaty from time to time in force, and
in minimizing the amount required to be so withheld or deducted.

               3.5.3 RECORDS. Aclara shall keep such books and records of Net
Sales as are reasonably necessary to determine the amounts payable to Caliper
hereunder for a period of *** after the royalty payments to which such books
and records relate are due. Upon Caliper's written request and at least ***
prior notice, but not more frequently than *** per calendar year, Aclara shall
permit a mutually acceptable, independent accounting firm to examine, ***,
such records during Aclara's regular business hours for the purpose of and to
the extent necessary to verify any report required under this Agreement with
respect to Net Sales made not more than *** prior to the date of such written
request from Caliper. ***, and shall execute a confidentiality agreement with
Aclara in a form reasonably acceptable to Aclara that prohibits the accounting
firm from disclosing information obtained in connection with such inspection
other than disclosure to Caliper of the amount of any underpayment or
overpayment and, only to the extent necessary to achieve the purposes hereof,
the basis for the calculation of such amount.

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                                                                    CONFIDENTIAL

Caliper shall maintain in confidence and not use for any other purposes any
information obtained in connection with such inspection. If the amounts due to
Caliper are determined to have been underpaid, ***, without prejudice to
additional rights Caliper may have pursuant to Section 9.4, and ***. If Aclara
has overpaid any amount under this Agreement, ***.

               3.5.4 REPORTS. *** of the last day of each calendar quarter
occurring, in whole or in part, during the term of this Agreement, Aclara shall
deliver to Caliper a report setting forth in reasonable detail the calculation
of the total royalty payments due under this Section 3, if any, with respect to
Net Sales *** during that quarter.

               3.5.5 LIMITATIONS ON ROYALTIES. No multiple royalties shall be
due or payable to Caliper because the manufacture, use, offer for sale, sale or
import of any royalty bearing product is or shall be covered by more than one
Valid Claim of the Ramsey Patent Family. Only one royalty payment shall be
payable hereunder with respect to a given amount of Net Sales of an Aclara
Licensed Product. In no event shall any royalty bearing product, or any amount
of Net Sales, be subject to more than one royalty payment obligation to Caliper
with respect to rights under the Ramsey Patent Family licensed hereunder.

4. NO CHALLENGE OBLIGATIONS

        4.1 Caliper shall not participate, and shall obligate all of its
Sublicensees in the applicable sublicense not to participate, in any opposition
or challenge, to the validity or enforceability of any Patent in the `022 Patent
Family in any forum, e.g., in court or alternative dispute resolution, except in
any foreign jurisdiction outside the United States where such promise, agreement
or obligation is prohibited by law (including, without limitation, the European
Community and any member states thereof), and Caliper and its Sublicensees shall
not assist any third party in any such participation; provided, however, that if
Aclara or any third party asserts a Patent within the `022 Patent Family, or
makes an overt threat to assert a Patent in the `022 Patent Family that provides
a sufficient basis for an application for declaratory judgment, applying the
standards applicable in federal courts for declaratory judgments, against
Caliper or its Sublicensees, alleging that a product other than a Caliper
Licensed Product infringes or contributorily infringes such a Patent, then
Caliper or such Sublicensee may challenge such Patent, in whatever forum Aclara
or any third party has asserted such Patent, or, in the event of such an overt
threat, under the ADR Procedures or a forum of competent jurisdiction, as
applicable. *** of this Section 4.1. Any breach by Caliper of this Section 4.1
shall constitute a material breach of this Agreement, except to the limited
extent provided below in this Section 4.1. Any failure by Caliper to obligate
its Sublicensees (or include provisions in the sublicense agreement) as provided
for in this Section 4.1, and any violation of this Section 4.1, or the
corresponding section in the respective sublicense agreement, by a Sublicensee
shall not constitute a breach of this Agreement, or, unless otherwise provided
therein, of the respective sublicense agreement, but rather, as the sole and
exclusive remedy hereunder for any such failure or violation, shall be grounds
for termination of such sublicense rights to such Sublicensee if Caliper or such
Sublicensee, as the case may be, fails to cure such violation within ninety (90)
days following written notice thereof from Aclara to such Sublicensee or to
Caliper, which shall

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                                       13.
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                                                                    CONFIDENTIAL

promptly communicate such notice, if any, to such Sublicensee (and Caliper shall
include applicable provisions to that effect in all of its sublicense agreements
with Sublicensees).

        4.2 Except to the extent permitted by Section 4.3, Aclara shall not
participate, and shall obligate all of its Sublicensees in the applicable
sublicense not to participate, in any opposition or challenge to the validity or
enforceability of any Patent in the Ramsey Patent Family in any forum, e.g., in
court or alternative dispute resolution, except in any foreign jurisdiction
outside the United States where such promise, agreement or obligation is
prohibited by law (including, without limitation, the European Community and any
member states thereof), and Aclara and its Sublicensees shall not assist any
third party in any such participation. *** of this Section 4.2. Any breach by
Aclara of this Section 4.2 shall constitute a material breach of this Agreement,
except to the limited extent provided below in this Section 4.2. Any failure by
Aclara to obligate its Sublicensees (or include provisions in the sublicense
agreement) as provided for in this Section 4.2, and any violation of this
Section 4.2, or the corresponding section in the respective sublicense
agreement, by a Sublicensee shall not constitute a breach of this Agreement, or,
unless otherwise provided therein, of the respective sublicense agreement, but
rather, as the sole and exclusive remedy hereunder for any such failure or
violation, shall be grounds for termination of such sublicense rights to such
Sublicensee if Aclara or such Sublicensee, as the case may be, fails to cure
such violation within ninety (90) days following written notice thereof from
Caliper to such Sublicensee or to Aclara, which shall promptly communicate such
notice, if any, to such Sublicensee (and Aclara shall include applicable
provisions to that effect in all of its sublicense agreements with
Sublicensees).

        4.3 If Caliper, ***, or any other third party, asserts a Patent in the
Ramsey Patent Family, or makes an overt threat to assert a Patent in the Ramsey
Patent Family that provides a sufficient basis for an application for
declaratory judgment, applying the standards applicable in federal courts for
declaratory judgments, against Aclara, or any of its Sublicensees, alleging that
a product other than an Aclara Licensed Product infringes or contributorily
infringes such a patent, or that an Aclara Licensed Product is being made, used
or sold by Aclara or any of its Sublicensees outside of the Aclara Field of Use,
then Aclara or any such Sublicensee may challenge such Patent in the Ramsey
Patent Family asserted against it in whatever forum Caliper or any third party
has asserted such Patent, or, in the event of such an overt threat, under the
ADR Procedures or a forum of competent jurisdiction, as applicable.

        4.4 Aclara shall not challenge in any forum *** on the grounds that ***;
provided, however, that nothing contained herein shall prohibit Aclara from
challenging *** on such grounds, provided that any such challenge shall be made
pursuant to the ADR Procedure. Except as expressly provided in this Section 4,
Aclara shall not be limited or restricted hereunder from challenging in any
forum *** on grounds other than the aforementioned grounds, provided that any
such challenge shall be made pursuant to the ADR Procedure.

        4.5 Notwithstanding anything to the contrary in this Section 4:

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                                                                    CONFIDENTIAL

               4.5.1 Except as provided in Section 4.5.2, each Party shall
provide *** prior written notice to the other Party before knowingly (a)
taking any action pursuant to Section 4.1 or 4.2, as applicable, to terminate
any rights to a sublicense under Section 2.2.1 or 2.2.2, as applicable, of a
party which is *** "Manufacturing Party"), (b) making a claim of infringement
of the Patents licensed out by such acting Party hereunder against such
Manufacturing Party, or (c) threatening or otherwise communicating to such
Manufacturing Party its intent or purported right to take any of the foregoing
actions. The non-acting Party shall have *** from receipt of such notice to
notify the acting Party that it has determined in good faith that such
Manufacturing Party is not engaged in an activity that, absent a sublicense
pursuant to Section 2.2.1 or 2.2.2, as applicable, would constitute direct or
contributory infringement of such acting Party's Patents licensed out by it
hereunder. If the non-acting Party fails timely to give such notice, the
non-acting Party shall have *** to secure compliance, if necessary, with
Section 4.1 or 4.2, as and if applicable, with respect to such Manufacturing
Party before the acting Party may take any of the foregoing actions described in
(a) through (c) above. If the non-acting Party provides the foregoing notice of
noninfringement to the acting Party, the acting Party shall further refrain from
taking any of the actions described in (a) through (c) above, until *** after
such dispute shall have been resolved in accordance with the ADR Procedures as a
Non-Patent Dispute (as defined in the Settlement Agreement) by a determination
that such Manufacturing Party is in fact engaged in an activity that, absent a
sublicense pursuant to Section 2.2.1 or 2.2.2, as applicable, would constitute
direct or contributory infringement of such acting Party's intellectual property
rights.

               4.5.2 Notwithstanding Section 4.5.1, in the event that a
Manufacturing Party participates or assists a third party in any challenge to
the validity or enforceability of any Patent in the `022 Patent Family or the
Ramsey Patent Family, as the case may be, in violation of Section 4.1 or 4.2, as
applicable, or the corresponding sections in the respective sublicense
agreement, if applicable, Aclara or Caliper, as the case may be, may immediately
terminate such Manufacturing Party's sublicense, if any, or take any of the
other actions otherwise restricted in subsections 4.5.1(a), (b) or (c) above.

5. INTERFERENCE OBLIGATIONS

        5.1 RAMSEY PATENT FAMILY AND `022 PATENT FAMILY.

               5.1.1 Aclara will not seek to provoke or participate in an
Interference between a Patent in the Ramsey Patent Family and a Patent in the
`022 Patent Family. In addition, Aclara shall not assist or enable a third party
to provoke or participate in such an Interference, including by way of
transferring any rights to a Patent in the `022 Patent Family without this
restriction on Interferences.

               5.1.2 Caliper will not seek to provoke or participate in an
Interference between a Patent in the Ramsey Patent Family and a Patent in the
`022 Patent Family. In addition, Caliper shall not assist or enable a third
party to provoke or participate in such an Interference, including

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                                                                    CONFIDENTIAL

by way of transferring any rights to a Patent in the Ramsey Patent Family
without this restriction on Interferences.

        5.2 ***.

               5.2.1 Promptly after the Effective Date, *** in pending Patent
applications *** that are *** of a Patent *** which was issued or
published prior to***.

               5.2.2 *** in any existing or continuing Patent applications
that directly or indirectly claim priority to a Patent *** and that are ***
of any issued or published Patents ***.

               5.2.3 Promptly after the Effective Date, *** in currently
pending Patent applications *** that are *** of an issued or published
Patent ***.

               5.2.4 *** in any existing or continuing Patent applications
that directly or indirectly claim priority to a Patent *** and that are ***
of any issued or published Patents ***.

        5.3 RESOLUTION OF INTERFERENCE PROCEEDINGS. In the event that the United
States Patent and Trademark Office ("USPTO") declares an Interference between a
Patent in the Ramsey Patent Family and ***, then the Parties shall resolve the
Interference pursuant to the *** applicable thereto.

        5.4 THIRD PARTIES. Neither Caliper, nor Aclara will assist or enable any
third party to take any action that Caliper or Aclara, as applicable, would be
prohibited from taking under Section 5.1 or 5.2, including by transferring
rights in a Patent (including a patent application therein) involved in such
Interference to a third party without the attendant agreement to abide by
Sections 5.1 and 5.2 and the procedure referenced in Section 5.3; ***.

        5.5 COMPLIANCE WITH REQUIREMENTS. Notwithstanding anything else to the
contrary herein, nothing in this Agreement or the Settlement Agreement shall
limit or restrict either Party from complying with applicable mandatory
requirements of the rules and regulations of the USPTO or any patent office of
any foreign jurisdiction (such as, for example, Rule 56 and other obligations
not to commit inequitable conduct) and any applicable laws related thereto.

6. REPRESENTATIONS, WARRANTIES AND COVENANTS

        6.1 REPRESENTATIONS, WARRANTIES AND COVENANTS OF EACH PARTY. Each Party
represents, warrants and covenants to the other that:

               (i) As of the Effective Date, the execution, delivery and
performance of this Agreement are within its corporate power, have been duly and
validly authorized by all necessary corporate action and do not contravene or
constitute a default under any provision of its articles of incorporation or
by-laws;

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                                       16.
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                                                                    CONFIDENTIAL

               (ii) As of the Effective Date, the execution, delivery and
performance of this Agreement by it does not conflict with, contravene or
constitute a default under any provision of applicable law or regulation or any
agreement, license, judgment, injunction, order, decree or other instrument
binding on it, or otherwise relating to the Patents that it licenses to the
other Party hereunder or the inventions described and claimed therein;

               (iii) As of the Effective Date and at all times during the term
of this Agreement, it has and shall have the right and power to grant on behalf
of itself the rights and licenses expressly granted herein;

               (iv) As of the Effective Date and at all times during the term of
this Agreement, the licenses set forth in Section 2 above will confer upon the
Party receiving the license immunity from suit for infringement of the
respective licensed Patents and all rights, benefits and immunities of a
non-exclusive licensee under such Patents to the full extent provided by Section
2;

               (v) As of the Effective Date, all licenses, consents,
authorizations and approvals, if any, required for its execution, delivery and
performance of this Agreement have been obtained and are in full force and
effect and all conditions thereof have been complied with;

               (vi) Except as mutually agreed otherwise, during the term of this
Agreement, except as expressly contemplated by Section 6.3.3, each Party shall
take all steps necessary to maintain in force all licenses, consents,
authorizations and approvals, if any, required to give effect to all license and
sublicense grants to the other Party set forth in this Agreement to the full
extent such license and sublicense grants are in force as of the Effective Date.
***.

               (vii) As of the Effective Date, no action by or in respect of, or
filing with, any governmental body, agency or official or any other person or
entity is required in connection with its execution, delivery and performance of
this Agreement, except as may be required by the court in connection with
settlement of the proceedings covered by the Settlement Agreement;

               (viii) As of the Effective Date, other than the disputes to be
settled by the Parties in accordance with the Settlement Agreement, there is no
action, suit or proceeding pending against or, to the best of its knowledge,
threatened against or affecting it before any court, arbitrator, mediator or any
other body, agency or official in which there is a reasonable possibility of a
decision which could adversely affect the grant of the rights and licenses
described herein or which could in any manner draw into question the validity,
legality or enforceability of this Agreement or impair in any way its ability to
perform its obligations hereunder; and

               (ix) As of the Effective Date, this Agreement constitutes a valid
and binding agreement, enforceable against it in accordance with its terms
subject to the effects of bankruptcy, insolvency or other laws of general
application affecting the enforcement of creditor

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                                                                    CONFIDENTIAL

rights and judicial principles affecting the availability of specific
performance and general principles of equity, whether enforceability is
considered a proceeding at law or equity.

        6.2 ADDITIONAL REPRESENTATIONS AND WARRANTIES OF ACLARA.

               6.2.1 Aclara hereby represents and warrants that, other than
United States Patent Nos. *** (including all Patents relating to the foregoing
patents), United States Patent Application No *** (including all Patents
relating to such patent application), is the only Patent in, to or under which
*** that both claims a priority date before *** and has ***.

               6.2.2  Aclara represents and warrants that ***.

        6.3 ADDITIONAL REPRESENTATIONS, WARRANTIES AND COVENANTS OF CALIPER.

               6.3.1 Caliper hereby represents and warrants that (i) ***; (ii)
the documents provided to Aclara as of the Effective Date under a separate cover
letter titled "Oak Ridge Agreements" which includes a specific reference to this
Agreement and this Section 6.3 constitute a complete and accurate copy of the
Oak Ridge Agreements (including all amendments, addenda and attachments thereto)
as of the Effective Date, except for the redaction of certain confidential terms
and conditions; and (iii) the terms and conditions so redacted do not in any
manner materially adversely affect the rights granted to Aclara hereunder and
such redactions do not relate directly to sublicensees under such Oak Ridge
Agreements (for example, such redactions do not relate to termination or
survival of sublicense rights or to circumstances under which sublicensees take
rights directly from UT Battele or assume obligations in connection therewith).

               6.3.2 Except as permitted by Section 6.3.3, during the term of
this Agreement, Caliper shall not take or omit the taking of any action pursuant
to, or with respect to, the Oak Ridge Agreements (including with respect to any
Patents in the Ramsey Patent Family licensed thereunder) that modifies, limits
or eliminates the rights granted to Aclara hereunder with respect to the Ramsey
Patent Family to the full extent granted under this Agreement as of the
Effective Date, or otherwise materially adversely affect Aclara as a sublicensee
under such Oak Ridge Agreements (such as, for example, modifying, adding or
deleting provisions related to termination or survival of sublicense rights or
related to circumstances under which sublicensees take rights directly from UT
Battele or assume obligations in connection therewith in a manner that is
materially adverse to Aclara as a sublicensee), without the prior written
consent of Aclara.

               6.3.3 Notwithstanding Section 6.3.2 above, during the term of
this Agreement, Caliper may elect to *** Patent(s) in the Ramsey Patent Family
at any time and for any reason; provided, however, that, if rights granted to
Caliper under the Oak Ridge Agreements with respect to such Patent(s) ***:

                      (i) Caliper shall provide Aclara with *** prior written
notice of its election to *** such Patent(s); and

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                                       18.
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                                                                    CONFIDENTIAL

                      (ii) If, within *** of receipt of such notice, Aclara
notifies Caliper that it desires to ***, Caliper shall, within *** after
receiving the preceding notice from Aclara that Aclara desires to ***, notify
Aclara that Caliper shall, and Caliper shall, either: (a) continue to *** such
Patent(s), or (b) ***.

        With respect to option (ii)(b) above of this Section 6.3.3, each Party
shall provide the other with any reasonable assistance required to ***.

        6.4 SURVIVAL. The representations, warranties and covenants contained in
this Section 6 shall survive the execution, delivery and performance of this
Agreement by the Parties hereto.

        6.5 DISCLAIMER. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, EACH
PARTY HEREBY DISCLAIMS ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS OR
IMPLIED, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY,
NONINFRINGEMENT, OR FITNESS FOR A PARTICULAR PURPOSE.

7. INDEMNIFICATION

        Each Party (the "Indemnifying Party") shall defend, at its expense, the
other Party (the "Indemnified Party"), its directors, officers, employees, and
agents, against all third party claims, demands, damages, liabilities, losses,
costs and expenses, including without limitation attorney's fees (collectively,
"Claims") resulting from or arising out of a *** in any judgment, award or
settlement, or reasonably required *** and ***, attributable to such Claim.
The Indemnifying Party shall not be obligated under this Section 7 unless (and
only to the extent) the Indemnified Party (a) provides to the Indemnifying Party
prompt notice of the commencement of the Claim for which indemnification is
sought, (b) provides cooperation to the Indemnifying Party, and (c) allows the
Indemnifying Party to control the defense, provided that the Indemnifying Party
may not settle a claim in a manner that materially adversely affects the
Indemnified Party without approval of the Indemnified Party, which approval
shall not be unreasonably withheld or delayed.

8. LIMITATION OF LIABILITY

        SUBJECT TO SECTION 7, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE
OTHER FOR ANY INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY
KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF BUSINESS, LOSS OF USE, LOSS OF
PROFITS, OR INTERRUPTION OF BUSINESS, ARISING FROM OR RELATING TO THIS AGREEMENT
OR THE SUBJECT MATTER HEREOF, INCLUDING THE BREACH HEREOF, EVEN IF SUCH PARTY
HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, HOWEVER CAUSED.

9. TERM AND TERMINATION; EFFECT OF BREACH

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                                       19.
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                                                                    CONFIDENTIAL

        9.1 TERM. This Agreement shall commence on the Effective Date and,
unless sooner terminated solely in accordance with the provisions of this
Section 9, ***. The licenses granted to Caliper under Section 2.1 shall
terminate upon the ***. The licenses granted to Aclara under Section 2.2 shall
terminate upon the ***.

        9.2 TERMINATION OF LICENSES.

               9.2.1 TERMINATION BY ACLARA. Aclara may terminate the license
grant to Caliper under Section 2.1 if, the Arbitration Panel (as defined in the
Settlement Agreement) or, in the event of an appeal, the Appeal Panel (as
defined in the Settlement Agreement), determines in accordance with the ADR
Procedure that Caliper has materially breached this Agreement by materially
breaching any of *** of this Agreement and failed to cure such breach
(including, without limitation, any breach of ***) within *** after Aclara
has provided Caliper with written notice of such breach. In the event that
Aclara ***.

               9.2.2 TERMINATION BY CALIPER. Caliper may terminate the license
grant to Aclara under Section 2.2 if the Arbitration Panel (as defined in the
Settlement Agreement) or, in the event of an appeal, the Appeal Panel (as
defined in the Settlement Agreement), determines in accordance with the ADR
Procedure that Aclara has materially breached this Agreement by materially
breaching any of *** of this Agreement and failed to cure such breach
(including, without limitation, any breach of ***) within *** after Caliper
has provided Aclara with written notice of such breach.

               9.2.3 EFFECT OF TERMINATION OF LICENSE. For the removal of doubt,
in the event the licenses granted to Aclara or Caliper, as the case may be,
under Section 2 hereunder terminate for any reason, no Chip, instrument, add-on
module, software, hardware, component or other product shall be deemed an Aclara
Licensed Product or a Caliper Licensed Product as applicable (or a corresponding
Aclara Licensed Instrument, Aclara Licensed LabCard, Caliper Licensed Instrument
or Caliper Licensed LabChip as applicable), for purposes of this Agreement.

        9.3 TERMINATION OF AGREEMENT BY MUTUAL AGREEMENT. The Parties may
terminate this Agreement by mutual written agreement.

        9.4 EFFECT OF BREACH OF PAYMENT PROVISIONS BY ACLARA. If Aclara fails to
pay royalties due and owing to Caliper (which itself shall not constitute a
breach of this Agreement unless such failure is not cured within *** after
Caliper has provided Aclara with written notice of non-payment), then Caliper
may not terminate the license grant set forth in Section 2.2 but, if such
failure to pay is not cured within *** after Caliper has provided Aclara with
written notice of non-payment and an ADR Procedure is necessary to collect such
payment, *** of the unpaid royalties as determined by the Arbitration Panel
(as defined in the Settlement Agreement) or, in the event of an appeal, the
Appeal Panel (as defined in the Settlement Agreement), in accordance with the
ADR Procedure (***).

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                                       20.
<PAGE>   21

                                                                    CONFIDENTIAL

        9.5 EFFECT OF OTHER BREACHES OF THIS AGREEMENT. The Parties agree that
the material breach of this Agreement by a Party may cause severe and
irreparable damage to the other Party that may not be adequately compensated by
monetary damages. In the event of such a material breach, the breaching Party
agrees that the non-breaching Party may seek to obtain from the Arbitration
Panel injunctive relief, or relief by specific performance, as applicable, as
well as any other relief permitted by applicable law.

        9.6 EFFECT OF BREACH OF OTHER AGREEMENTS. This Agreement shall survive
termination of the Settlement Agreement and the Common Stock Issuance Agreement.
No breach of the Settlement Agreement or the Common Stock Issuance Agreement
shall, by itself, constitute a breach of this Agreement, unless such breach is
itself a breach of this Agreement.

        9.7 SURVIVAL OF OBLIGATIONS. The following provisions shall survive
termination or expiration of this Agreement: ***.

10. ALTERNATIVE DISPUTE RESOLUTION

        All disputes, controversies, or claims of any nature between or among
the Parties under this Agreement shall be resolved in accordance with the
applicable ADR Procedure, which is hereby incorporated by reference.

11. GENERAL PROVISIONS

        11.1 NOTICES. Any notice, request, demand, or other communication
required or permitted hereunder shall be in writing, shall reference this
Agreement and shall be deemed to be properly given: (a) when delivered
personally; (b) when sent by facsimile, with written confirmation of receipt;
(c) five (5) business days after having been sent by registered or certified
mail, return receipt requested, postage prepaid; or (d) two (2) business days
after deposit with a private industry express courier, with written confirmation
of receipt. All notices shall be sent to the address set forth below (or to such
other address as may be designated by a Party by giving written notice to the
other Party pursuant to this Section 11.1):

<TABLE>
<CAPTION>
                 IF TO ACLARA:                                    IF TO CALIPER:
------------------------------------------------- -------------------------------------------
<S>                                               <C>
Aclara BioSciences, Inc.                           All royalty payments and reports provided
1288 Pear Ave                                      pursuant to Section 3.5.4:
Mountain View, CA 94043
Attn: President
                                                   Caliper Technologies Corp.
with a copy to:                                    605 Fairchild Drive
                                                   Mountain View, CA 94043-2234
Aclara BioSciences, Inc.                           Attn: Chief Accounting Officers
1288 Pear Ave
Mountain View, CA 94043                            with a copy to:

                                                   Caliper Technologies Corp.
------------------------------------------------- -------------------------------------------
</TABLE>

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                                       21.
<PAGE>   22

                                                                    CONFIDENTIAL

<TABLE>
<CAPTION>
                 IF TO ACLARA:                                    IF TO CALIPER:
------------------------------------------------- -------------------------------------------
<S>                                               <C>
Attn: V.P., Legal Affairs                          605 Fairchild Drive
                                                   Mountain View, CA 94043-2234
and with a copy to:                                Attn: Sr. Director of Legal Affairs

David Doyle, Esq.                                  All other notices, requests, demands, or other
Morrison & Foerster                                communications:
3811 Valley Center Drive, Suite 500
San Diego, CA 92130
                                                   Caliper Technologies Corp.
                                                   605 Fairchild Drive
                                                   Mountain View, CA 94043-2234
                                                   Attn: Sr. Director of Legal Affairs

                                                   with a copy to:

                                                   Sonya Winner, Esq.
                                                   Covington & Burling
                                                   601 California Street, 19th Floor
                                                   San Francisco, CA 94108
------------------------------------------------- -------------------------------------------
</TABLE>

        11.2 ASSIGNMENT. This Agreement, and its accompanying rights and
obligations, may not be sold, transferred, assigned, delegated, pledged, or
otherwise disposed of, in whole or part, whether voluntarily, by operation of
law or otherwise, by any Party without the prior written consent of the other
Party, except that either Party may assign this Agreement, without the other
Party's consent, in connection with a Change in Control of the assigning Party,
or of such Party's microfluidic systems line of business, or a transfer of such
Party's microfluidic systems line of business to an entity that such Party
Controls (subject to Sections 2.1.4 and 2.2.4, if applicable), including,
without limitation any merger of such assigning Party into a successor entity
which such Party Controls. Subject to the preceding sentence, the rights and
liabilities of the Parties hereto will bind, and inure to the benefit of, their
respective and permitted assignees and successors and is binding on the Parties
and their successors and permitted assigns. Any attempted assignment other than
in accordance with this Section 11.2 shall be null and void. This Agreement
shall be binding upon all successors in interest to all or some of the `022
Patent Family and the Ramsey Patent Family, as the case may be.

        11.3 GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the State of California, United States, without
reference to or application of its conflicts of law provisions.

        11.4 CONSTRUCTION. This Agreement has been negotiated by the Parties and
their respective counsel, and counsel for the Parties have participated in the
drafting of this Agreement. This Agreement will be interpreted fairly in
accordance with its terms and without any construction in favor of or against
either Party.

        11.5 WAIVER. The waiver by either Party of a breach of or a default
under any provision of this Agreement, shall not be effective unless in writing
and shall not be construed as

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                                       22.
<PAGE>   23

                                                                    CONFIDENTIAL

a waiver of any subsequent breach of or default under the same or any other
provision of this Agreement, nor shall any delay or omission on the part of
either Party to exercise or avail itself of any right or remedy that it has or
may have hereunder operate as a waiver of any right or remedy.

        11.6 SEVERABILITY. If the application of any provision of this Agreement
or any promise hereunder to any particular facts or circumstances shall be held
to be invalid, unenforceable, prohibited or illegal by an arbitration panel, a
court or any other governmental or supranational authority (including, without
limitation, the European Commission) of competent jurisdiction, then the
validity and enforceability of such provision or promise as applied to any other
particular facts or circumstances and the validity of other provisions of this
Agreement or promises hereunder shall not in any way be affected or impaired
thereby.

        11.7 RELATIONSHIP OF THE PARTIES. Nothing contained in this Agreement
shall be deemed or construed as creating a joint venture, partnership, agency,
employment or fiduciary relationship between the Parties. Neither Party nor its
agents have any authority of any kind to bind the other Party in any respect
whatsoever, and the relationship of the Parties is, and at all times shall
continue to be, that of independent contractors.

        11.8 CAPTIONS AND SECTION HEADINGS. The captions and section and
paragraph headings used in this Agreement are inserted for convenience only and
shall not affect the meaning or interpretation of this Agreement.

        11.9 COUNTERPARTS. This Agreement may be executed in one or more
counterparts, with the same effect as if the Parties had signed the same
document. Each counterpart so executed shall be deemed to be an original, and
all such counterparts shall be construed together and shall constitute one
Agreement.

        11.10 FORCE MAJEURE. Neither Party shall be deemed to be in default of,
or to have breached, any provision of this Agreement as the result of delay or
failure in performance resulting directly or indirectly from circumstances
beyond the Party's reasonable control, including without limitation, acts of
God, acts of civil or military authority, civil disturbance, war, strikes or
other labor disputes, fires, transportation contingencies, laws, regulations,
acts or orders of any government agency or official thereof, or other
catastrophes. The non-performing Party shall notify, to the extent reasonably
practicable, the other Party of such force majeure within three (3) days after
such occurrence by giving notice to the other party stating the nature of the
event, its anticipated duration, and any action being taken to avoid or minimize
its effect. The suspension of performance shall be of no greater scope and no
longer duration than is necessary and the non-performing Party shall use
commercially reasonable efforts to remedy its inability to perform.

        11.11 FURTHER ASSURANCES. Each Party agrees to take or cause to be taken
such further actions, and to execute, deliver and file or cause to be executed,
delivered and filed such further documents and instruments, and to obtain such
consents, as may be reasonably required or requested in order to effectuate
fully the purposes, terms and conditions of this Agreement.

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requested with respect to the omitted portions.

                                       23.
<PAGE>   24

                                                                    CONFIDENTIAL

        11.12 ENTIRE AGREEMENT. This Agreement together with the exhibits
hereto, and to the extent provided herein, the Settlement Agreement and the
Common Stock Issuance Agreement constitute the entire agreement and
understanding between the Parties concerning the subject matter hereof and
supersede all prior or contemporaneous representations, discussions, proposals,
negotiations, conditions, agreements and communications, whether oral or
written, between the Parties relating to the subject matter of this Agreement
and all past courses of dealing or industry custom. No amendment or modification
of any provision of this Agreement shall be effective unless in writing and
signed by a duly authorized signatory of the Party against which enforcement of
the amendment or modification is sought.

        11.13 SECTION 365(n) OF THE BANKRUPTCY CODE. All rights and licenses
granted under or pursuant to any section of this Agreement are and shall
otherwise be deemed to be for purposes of Section 365(n) of the Bankruptcy Code
licenses of rights of "intellectual property" as defined in Section 101(35A) of
the Bankruptcy Code. The parties shall retain and may fully exercise all of
their respective rights and elections under the Bankruptcy Code.

        IN WITNESS WHEREOF, the Parties have caused this Agreement to be
executed by duly authorized representatives of the Parties as of the Effective
Date.

ACLARA BIOSCIENCES, INC.                      CALIPER TECHNOLOGIES CORP.

ACLARA BIOSCIENCES, INC.                      CALIPER TECHNOLOGIES CORP.

By: /s/ Joseph M. Limber                      By:  /s/ James L. Knighton
    ----------------------------                   ---------------------
            Signature                                   Signature

Name:  Joseph M. Limber                       Name:  James L. Knighton
       -------------------------                     -----------------
            Print or Type                               Print or Type

Title:  President, CEO                        Title:  Chief Financial Officer
        ------------------------                      -----------------------

Date:  March 12, 2001                         Date:  March 12, 2001
       -------------------------                     --------------

                                       24.
<PAGE>   25

                                                                    CONFIDENTIAL

                                    EXHIBIT A

                   LICENSED INSTRUMENTS, LABCARDS AND LABCHIPS

                                       ***

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requested with respect to the omitted portions.

<PAGE>   26

                                                                    CONFIDENTIAL

                                    EXHIBIT B

                                       ***

                                       ***

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requested with respect to the omitted portions.

<PAGE>   27

                                                                    CONFIDENTIAL

                                    EXHIBIT C

                                       ***

<TABLE>
<CAPTION>
                     ***                                            ***
------------------------------------------------- -----------------------------------------------
<S>                                               <C>
***                                               ***
------------------------------------------------- -----------------------------------------------
***                                               ***
------------------------------------------------- -----------------------------------------------
***                                               ***
------------------------------------------------- -----------------------------------------------
</TABLE>

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                                                                    Exhibit 10.3

                            ACLARA BIOSCIENCES, INC.

                         COMMON STOCK ISSUANCE AGREEMENT

        THIS COMMON STOCK PURCHASE AGREEMENT (this "Agreement") is made as of
March 12, 2001 by and between ACLARA BioSciences, Inc., a Delaware corporation
(the "Company"), and Caliper Technologies Corp., a Delaware corporation
("Caliper").

        WHEREAS, the Company and Caliper are concurrently entering into a
Settlement Agreement and General Mutual Release of even date herewith (the
"Settlement Agreement"), which provides, among other things, that in
consideration for Caliper entering into the Settlement Agreement, the Company
will, among other things, issue to Caliper 900,000 shares (the "Shares") of the
Company's common stock, $0.001 par value per share (the "Common Stock"); and

        WHEREAS, the Company desires to issue, and Caliper desires to acquire,
the Shares.

        NOW THEREFORE, in consideration of the foregoing recitals and the terms
and covenants set forth herein, the parties hereby agree as follows:

        1. Authorization and Issuance of the Shares. Subject to the terms and
conditions of this Agreement, the Company has authorized the issuance of the
Shares to Caliper.

        2. Agreement to Issue and Acquire the Shares.

               2.1 At the Closing (as defined in Section 3), the Company will
issue to Caliper, and Caliper will acquire from the Company, upon the terms and
conditions hereinafter set forth, the Shares, as partial consideration for the
execution by Caliper of the Settlement Agreement. Caliper shall not be obligated
to pay any other consideration to the Company in respect of the Shares.

               2.2 Caliper acknowledges and agrees that issuance of the Shares
to Caliper and the performance of the Company's obligations under this Agreement
(including without limitation its payment obligations under Section 7.2)
satisfies in full the Company's obligation to pay $27.5 million and $5 million
in accordance with Sections 4(b) and 4(c) of the Settlement Agreement.

        3. Delivery of the Shares and Legal Opinion at Closing. The completion
of the issuance of the Shares (the "Closing") shall occur (the "Closing Date")
on or before the third business day after the date hereof, at the offices of the
Company's counsel. At the Closing, the Company shall deliver to Caliper (i) one
stock certificates representing the Shares, such certificate to be registered in
the name of Caliper, and (ii) a letter from Latham & Watkins in substantially
the form set forth herein as Exhibit B. The Company's obligation to issue the
Shares to Caliper shall be subject to the accuracy of the representations and
warranties made by Caliper.

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

               4.1 Organization. The Company is duly organized and validly
existing in good standing under the laws of the jurisdiction of its
organization. The Company has all corporate power and authority to own, operate
and occupy its properties and assets and to conduct its business as presently
conducted and is registered or qualified to do business and in good standing in
each

<PAGE>   2

jurisdiction in which it owns or leases property or transacts business and where
the failure to be so qualified would have a material adverse effect upon the
business or financial condition of the Company and no proceeding has been
instituted in any such jurisdiction, revoking, limiting or curtailing, or
seeking to revoke, limit or curtail, such power and authority or qualification.

               4.2 Due Authorization. The Company has all requisite corporate
power and authority to execute, deliver and perform its obligations under this
Agreement, and this Agreement has been duly authorized and validly executed and
delivered by the Company and constitutes a legal, valid and binding agreement of
the Company enforceable against the Company in accordance with its terms, except
as rights to indemnity and contribution may be limited by state or federal
securities laws or the public policy underlying such laws, except as
enforceability 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).

               4.3 Non-Contravention. The execution and delivery of this
Agreement, the issuance and sale of the Shares to be sold by the Company under
this Agreement, the fulfillment of the terms of this Agreement and the
consummation of the transactions contemplated thereby will not (A) conflict with
or constitute a violation of, or default (with or without the giving of notice
or the passage of time or both) under, (i) any material bond, debenture, note or
other evidence of indebtedness, or under any material lease, contract,
indenture, mortgage, deed of trust, loan agreement, joint venture or other
agreement or instrument to which the Company is a party or by which it or its
properties or assets are bound, (ii) the charter, by-laws or other
organizational documents of the Company, or (iii) any law, administrative
regulation, ordinance or order of any court or governmental agency, arbitration
panel or authority applicable to the Company or its properties or assets, or (B)
result in the creation or imposition of any lien, encumbrance, claim, security
interest or restriction whatsoever upon any of the material properties or assets
of the Company or an acceleration of indebtedness pursuant to any obligation,
agreement or condition contained in any material bond, debenture, note or any
other evidence of indebtedness or any material indenture, mortgage, deed of
trust or any other agreement or instrument to which the Company is a party or by
which any of it or its properties or assets are bound or to which any of the
property or assets of the Company is subject. No consent, approval,
authorization or other order of, or registration, qualification or filing with,
any regulatory body, administrative agency, or other governmental body in the
United States is required for the execution and delivery of this Agreement and
the valid issuance and sale of the Shares to be sold pursuant to this Agreement,
other than such as have been made or obtained, and except for any securities
filings required to be made under federal or state securities laws.

               4.4 Reporting Status. The Company has filed in a timely manner
all documents that the Company was required to file under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), during the 12 months
preceding the date of this Agreement. Such documents (including, without
limitation, all exhibits included or incorporated by reference therein) complied
in all material respects with the requirements of the Securities and Exchange
Commission (the "SEC") as of their respective filing dates, and the information
contained therein as of the date thereof did not contain 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 in light of the circumstances under
which they were made not misleading, except to the extent that information
contained in any such document has been revised or superseded by a later filed
"SEC Document", which shall mean any document filed

                                        2
<PAGE>   3

by the Company with the SEC since December 31, 1999 pursuant to the reporting
requirements of the Exchange Act, including the Company's Quarterly Reports on
Form 10-Q for the quarters ended March 31, 2000 and June 30, 2000 and September
30, 2000.

               4.5 Capitalization. As of the date hereof, the authorized capital
stock of the Company consists of 150,000,000 shares of Common Stock and
15,000,000 shares of preferred stock, par value $0.001 per share, of the Company
(the "Preferred Stock"). As of December 31, 2000, there were approximately
34,527,670 shares of Common Stock issued and outstanding, and no shares of the
Preferred Stock issued and outstanding. The Shares to be issued pursuant to this
Agreement have been duly authorized, and when issued in accordance with the
terms of this Agreement will be duly and validly issued, fully paid and
nonassessable. No preemptive right, co-sale right, right of first refusal or
other similar right exists with respect to the Shares or the issuance and sale
thereof.

               4.6 Legal Proceedings. Except for proceedings related to the
execution of the Settlement Agreement, there is no material legal or
governmental proceeding pending or, to the knowledge of the Company, threatened
to which the Company is or may be a party or of which the business, property or
assets of the Company is subject that is not disclosed in the SEC Documents.

               4.7 No Violations. The Company is not (i) in violation of its
charter, bylaws, or other organizational document, or in violation of any law,
administrative regulation, ordinance or order of any court or governmental
agency, arbitration panel or authority applicable to the Company, which
violation, individually or in the aggregate, would be reasonably likely to have
a material adverse effect on the business or financial condition of the Company
or (ii) in default (and there exists no condition which, with or without the
passage of time or giving of notice or both, would constitute a default) in any
material respect in the performance of any bond, debenture, note or any other
evidence of indebtedness in any indenture, mortgage, deed of trust or any other
material agreement or instrument to which the Company is a party or by which the
Company is bound or by which the properties or assets of the Company are bound,
which would be reasonably likely to have a material adverse effect upon the
business or financial condition of the Company.

               4.8 NASDAQ Listing. The Company's Common Stock is registered
pursuant to Section 12(g) of the Exchange Act and is listed, and currently
complies with the requirements for continued listing, on The Nasdaq Stock
Market, Inc. National Market (the "Nasdaq National Market"), and the Company has
taken no action designed to, or likely to have the effect of, terminating the
registration of the Common Stock under the Exchange Act or de-listing the Common
Stock from the Nasdaq National Market, nor to the Company's knowledge is the
National Association of Securities Dealers, Inc. currently contemplating
terminating such listing.

               4.9 Listing of the Shares. The Company shall comply with all
requirements of the National Association of Securities Dealers, Inc. with
respect to the issuance of the Shares and the listing thereof on the Nasdaq
National Market

               4.10 S-3 Status. Except for the requirement set forth in General
Instruction I.A.3.(a) of Form S-3 requiring that a registrant be subject to the
requirements of Section 12 of 15(d) of the Securities and Exchange Act of 1934
for a period of at least 12 calendar months immediately preceding the filing of
the registration statement, the Company would meet the requirements for the use
of Form S-3 for the registration of the resale of the Shares by Caliper. The
Company will use its best efforts to meet the requirements for the use of Form
S-3 for the registration of the resale of the

                                        3
<PAGE>   4

Shares by Caliper. Once the Company has become eligible to use Form S-3, it will
use its best efforts to maintain S-3 status with the SEC during the Registration
Period (as defined in Section 6.1(c)).

               4.11 No Registration. Assuming the accuracy of the
representations and warranties made by, and compliance with the covenants of,
Caliper in Section 5 hereof, no registration of the Shares under the Securities
Act of 1933, as amended (the "Securities Act"), is required in connection with
the offer and sale of the Shares by the Company to Caliper as contemplated by
this Agreement.

               4.12 Form D. The Company agrees to file one or more Forms D with
respect to the Shares as required under Regulation D under the Securities Act to
claim the exemption provided by Rule 506 of Regulation D.

        5. Representations, Warranties and Covenants of Caliper.

               5.1 Accredited Investor. Caliper represents and warrants to, and
covenants with, the Company that: (i) Caliper is an "accredited investor" as
defined in Regulation D under the Securities Act and Caliper has the knowledge,
sophistication and experience necessary to make, and is qualified to make
decisions with respect to, investments in shares presenting an investment
decision like that involved in the purchase of the Shares, including investments
in securities issued by the Company and investments in comparable companies, and
has requested, received, reviewed and considered all information it deemed
relevant in making an informed decision to purchase the Shares; (ii) Caliper is
acquiring the Shares for its own account for investment only and with no present
intention of distributing any of such Shares or any arrangement or understanding
with any other persons regarding the distribution, sale or transfer of such
Shares; (iii) Caliper will not, directly or indirectly, offer, sell, pledge,
transfer or otherwise dispose of (or solicit any offers to buy, purchase or
otherwise acquire or take a pledge of) any Registrable Shares (as defined in
Section 6.1(a) hereof) except in compliance with the Securities Act, applicable
state securities laws and the respective rules and regulations promulgated
thereunder; (iv) Caliper (A) has had no position, office or other material
relationship within the past three years with the Company or its affiliates (B)
neither it, nor any group of which it is a member or to which it is related,
beneficially owns (including the right to acquire or vote) any securities of the
Company and (C) it has no direct or indirect affiliation or association with any
NASD member; (v) Caliper will notify the Company immediately of any change in
any of such information on Schedule 5.1 until such time as Caliper has sold all
of its Registrable Shares or until the Company is no longer required to keep the
Registration Statement effective; and (vi) Caliper has, in connection with its
decision to acquire the Shares, had access to the SEC Documents and has had a
reasonable opportunity to ask questions of and receive answers from a person or
persons acting on behalf of the Company concerning the offering of the Shares
and all such questions have answered to the full satisfaction of Caliper.
Caliper understands that its acquisition of the Shares has not been registered
under the Securities Act or registered or qualified under any state securities
law in reliance on specific exemptions therefrom, which exemptions may depend
upon, among other things, the bona fide nature of Caliper's investment intent as
expressed herein. Caliper further understands that the Shares are "restricted
securities" under applicable federal and state securities laws and that,
pursuant to these laws, Caliper must hold the Shares indefinitely unless they
are registered under the Securities Act, or an exemption from such registration
requirements is available. Caliper acknowledges that, except as specifically
provided for in this Agreement, the Company has no obligation to register or
qualify the Shares for resale. Caliper further acknowledges that if an exemption
from registration or qualification is

                                        4
<PAGE>   5

available, it may be conditioned on various requirements including, but not
limited to, the time and manner of sale, the holding period for the Shares, and
requirements relating to the Company which are outside of Caliper's control, and
which the Company is under no obligation and may not be able to satisfy.

               5.2 No Foreign Offering. Caliper acknowledges, represents and
agrees that no action has been or will be taken in any jurisdiction outside the
United States by the Company that would permit an offering of the Shares, or
possession or distribution of offering materials in connection with the issue of
the Shares, in any jurisdiction outside the United States where action for that
purpose is required. If Caliper is located or domiciled outside the United
States it agrees to comply with all applicable laws and regulations in each
foreign jurisdiction in which it purchases, offers, sells or delivers Shares or
has in its possession or distributes any offering material, in all cases at its
own expense.

               5.3 Legends; Transfer.

                      (a) Legends. Until the Registrable Shares have been
registered on an effective registration statement, the certificate or
certificates representing the Registrable Shares shall bear legends in
substantially the following form (as well as any legends required by applicable
state and federal corporate and securities laws):

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

                      (b) Stop-Transfer Notices. Caliper agrees that, in order
to ensure compliance with the restrictions referred to herein, the Company may
issue appropriate "stop transfer" instructions to its transfer agent, if any,
and that, if the Company transfers its own securities, it may make appropriate
notations to the same effect in its own records.

                      (c) Refusal to Transfer. The Company shall not be required
(i) to transfer on its books any Registrable Shares that have been sold or
otherwise transferred in violation of any of the provisions of this Agreement or
(ii) to treat as owner of such Registrable Shares or to accord the right to vote
or pay dividends to any purchaser or other transferee to whom such Registrable
Shares shall have been so transferred.

                      (d) All Transfers of the Registrable Shares to be Effected
Via Deutsche Banc Alex. Brown. In order to ensure timely and prompt compliance
by the parties hereto with the provisions of this Agreement, including without
limitation, the provisions of Section 7 hereof, the parties hereto agree that
all transfers and sales of any of the Registrable Shares by Caliper shall be
effected through the brokerage services department of Deutsche Banc Alex. Brown
(or such other broker as may be designated from time to time by the Company).

               5.4 Power and Authority. Caliper further represents and warrants
to the Company that (i) Caliper has full right, power, authority and capacity to
enter into this Agreement

                                        5
<PAGE>   6

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) this Agreement constitutes a valid and binding obligation of
Caliper enforceable against Caliper in accordance with its terms, except as
rights to indemnity and contribution may be limited by state or federal
securities laws or the public policy underlying such laws, and except as
enforceability 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).

               5.5 Taxes. Caliper understands that nothing in this Agreement or
any other materials presented to Caliper in connection with the purchase and
sale of the Shares constitutes legal, tax or investment advice. Caliper has
consulted such legal, tax and investment advisors as it, in its sole discretion,
has deemed necessary or appropriate in connection with its purchase of Shares.
Caliper further agrees that it will be solely responsible for the withholding
and/or payment of any federal, state, or local taxes with respect to the Shares
issued to it hereunder, and it will indemnify and hold the Company harmless from
all liability related to the tax treatment of the Shares.

               5.6 Agreement to Vote Shares. In all stockholder actions and for
so long as Caliper holds any of the Registrable Shares, Caliper agrees to vote
the Registrable Shares in the manner recommended by the Company's Board of
Directors, except to the extent prohibited by applicable law.

        6. Registration of the Shares; Compliance with the Securities Act.

               6.1 Registration Procedures and Expenses. The Company shall:

                      (a) subject to receipt of necessary information from
Caliper, prepare and file with the SEC, within 60 days after the Closing Date, a
registration statement (the "Registration Statement") on Form S-3 (or if Company
does not qualify for Form S-3 on March 31, 2001, on Form S-1 or Form S-2) to
enable the resale of the Registrable Shares (as defined below) by Caliper on a
delayed or continuous basis under Rule 415 of the Securities Act. "Registrable
Shares" means (i) the Shares and (ii) any shares of capital stock issued or
issuable, from time to time, upon any reclassification, share combination, share
subdivision, stock split, share dividend, merger, consolidation or similar
transaction or event or otherwise as a distribution on, in exchange for, in
replacement of, or with respect to any of the foregoing, in each case held at
the relevant time by Caliper;

                      (b) use its best efforts, subject to receipt of necessary
information from Caliper, to cause the Registration Statement to become
effective within 90 days after the Closing Date;

                      (c) prepare and file with the SEC such amendments and
supplements to the Registration Statement and the Prospectus used in connection
therewith and take all such other actions as may be necessary to keep the
Registration Statement current and effective for a period (the "Registration
Period") commencing on the effective date of the Registration Statement and
ending on the earlier of (i) the second anniversary of the effective date of the
Registration Statement, (ii) the date on which Caliper may sell all Registrable
Shares then held by Caliper under Rule 144(k) of the Securities Act, and (iii)
such time as all Registrable Shares held by Caliper have been sold (A)

                                        6
<PAGE>   7

pursuant to a registration statement, (B) to or through a broker or dealer or
underwriter in a public distribution or a public securities transaction, and/or
(C) in a transaction exempt from the registration and prospectus delivery
requirements of the Securities Act under Section 4(1) thereof so that all
transfer restrictions and restrictive legends with respect thereto, if any, are
removed upon the consummation of such sale;

                      (d) furnish to Caliper with respect to the Registrable
Shares registered under the Registration Statement such number of copies of the
Registration Statement, Prospectuses and Preliminary Prospectuses in conformity
with the requirements of the Securities Act and such other documents as Caliper
may reasonably request, in order to facilitate the public sale or other
disposition of all or any of the Registrable Shares by Caliper; provided
however, that the obligation of the Company to deliver copies of Prospectuses or
Preliminary Prospectuses to Caliper shall be subject to receipt by the Company
of reasonable assurances from Caliper that Caliper will comply with the
applicable provisions of the Securities Act and of such other securities or blue
sky laws as may be applicable in connection with any use of such Prospectuses or
Preliminary Prospectuses;

                      (e) take such action as may be necessary to register,
qualify or obtain an exemption for the Registrable Shares under such of the
state securities laws of United States jurisdictions as shall be necessary to
qualify, or obtain an exemption for, the sale of the Registrable Shares in
states specified in writing by Caliper; provided, however, that the Company
shall not be required to 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;

                      (f) advise Caliper promptly, (i) after it shall receive
notice or obtain knowledge of the issuance of any stop order by the SEC delaying
or suspending the effectiveness of the Registration Statement or of the
initiation or threat of any proceeding for that purpose, and it will promptly
use its commercially reasonable efforts to prevent the issuance of any stop
order to obtain its withdrawal at the earliest possible moment if such stop
order should be issued or other order should be issued; (ii) when the Prospectus
or any Prospectus Supplement or post-effective amendment has been filed, and,
with respect to the Registration Statement or any post-effective amendment
thereto, when the same has become effective; and (iii) after the Company shall
receive notice or obtain knowledge of the existence of any fact or the happening
of any event that makes any statement of a material fact made in the
Registration Statement, the Prospectus, any amendment or supplement thereto, or
any document incorporated by reference therein untrue, or that requires the
making of any additions to or changes in the Registration Statement or the
Prospectus in order to make the statements therein not misleading;

                      (g) otherwise use its best efforts to comply with all
applicable rules and regulations of the SEC;

                      (h) bear all expenses in connection with the procedures in
paragraphs (a) through (g) of this Section 6.1 and the registration of the
Registrable Shares pursuant to the Registration Statement.

              6.2 Transfer of Shares; Suspension.

                      (a) Caliper agrees that it will not effect any sale, offer
to sell, solicitation of offers to buy, disposition of, loan, pledge or grant of
any right with respect to (each, a

                                        7
<PAGE>   8

"Disposition") the Registrable Shares or its right to purchase the Registrable
Shares that would constitute a sale within the meaning of the Securities Act
except as contemplated in the Registration Statement referred to in Section 6.1
and as described below or otherwise in accordance with the Securities Act, and
that it will promptly notify the Company of any changes in the information set
forth in the Registration Statement regarding Caliper or its plan of
distribution.

                      (b) Except in the event that paragraph (c) below applies,
the Company shall, (i) if deemed necessary by the Company, prepare and file from
time to time with the SEC a post-effective amendment to the Registration
Statement or a supplement to the related Prospectus or a supplement or amendment
to any document incorporated therein by reference or file any other required
document so that such Registration Statement will not contain 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, and
so that, as thereafter delivered to purchasers of the Registrable Shares being
sold thereunder, such Prospectus will not contain 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, in light of the circumstances under
which they were made, not misleading; (ii) provide Caliper copies of any
documents filed pursuant to Section 6.2(b)(i); and (iii) inform Caliper that the
Company has complied with its obligations in Section 6.2(b)(i) (or that, if the
Company has filed a post-effective amendment to the Registration Statement which
has not yet been declared effective, the Company will notify Caliper to that
effect, will use its commercially reasonable efforts to secure the effectiveness
of such post-effective amendment as promptly as possible and will promptly
notify Caliper pursuant to Section 6.2(b)(i) hereof when the amendment has
become effective).

                      (c) Subject to paragraph (d) below, in the event (i) of
any request by the SEC or any other federal or state governmental authority
during the period of effectiveness of the Registration Statement for amendments
or supplements to a Registration Statement or related Prospectus or for
additional information; (ii) of the issuance by the SEC or any other federal or
state governmental authority of any stop order suspending the effectiveness of a
Registration Statement or the initiation of any proceedings for that purpose;
(iii) of the receipt by the Company of any notification with respect to the
suspension of the qualification or exemption from qualification of any of the
Registrable Shares for sale in any jurisdiction or the initiation or threatening
of any proceeding for such purpose; or (iv) of any event or circumstance which
necessitates the making of any changes in the Registration Statement or
Prospectus, or any document incorporated or deemed to be incorporated therein by
reference, so that, in the case of the Registration Statement, it will not
contain any untrue statement of a material fact or any omission to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading, and that in the case of the Prospectus, it will not
contain any untrue statement of a material fact or any omission to state 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; then the Company shall deliver a certificate in writing to Caliper
(the "Suspension Notice") to the effect of the foregoing and, upon receipt of
such Suspension Notice, Caliper will refrain from selling any Registrable Shares
pursuant to the Registration Statement (a "Suspension") until Caliper's receipt
of copies of a supplemented or amended Prospectus prepared and filed by the
Company, or until it is advised in writing by the Company that the current
Prospectus may be used, and has received copies of any additional or
supplemental filings that are incorporated or deemed incorporated by reference
in any such Prospectus. In the event of any Suspension, the Company will use its
commercially reasonable efforts to cause the use of the Prospectus so suspended
to be resumed as soon as reasonably practicable after the delivery of a
Suspension Notice to Caliper. In addition to and without limiting

                                        8
<PAGE>   9

any other remedies (including, without limitation, at law or at equity)
available to Caliper, Caliper shall be entitled to specific performance in the
event that the Company fails to comply with the provisions of this Section
6.2(c).

                      (d) Notwithstanding the foregoing paragraphs of this
Section 6.2, Caliper shall not be prohibited from selling Registrable Shares
under the Registration Statement as a result of Suspensions on more than two
occasions of not more than 20 days each in any twelve month period, unless, in
the good faith judgment of the Company's Board of Directors, upon advice of
counsel, the sale of Registrable Shares under the Registration Statement in
reliance on this paragraph 6.2(d) would be reasonably likely to cause a
violation of the Securities Act or the Exchange Act and result in potential
liability to the Company.

                      (e) Provided that a Suspension is not then in effect,
Caliper may sell Registrable Shares under the Registration Statement, provided
that it arranges for delivery of a current Prospectus to the transferee of such
Shares.

                      (f) In the event of a sale of Registrable Shares by
Caliper under the Registration Statement, Caliper shall deliver to the Company's
transfer agent, with a copy to the Company, a Certificate of Subsequent Sale
substantially in the form attached hereto as Exhibit A, so that the Registrable
Shares may be properly transferred.

              6.3 Indemnification.

                      (a) For the purpose of this Section 6.3:

                           (i) 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 6.1; and

                           (ii) 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 or Prospectus 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.

                      (b) The Company agrees to indemnify and hold harmless
Caliper, the officers, directors and any underwriter (as defined in the
Securities Act) of Caliper, and each person, if any, who controls Caliper or
such underwriter within the meaning of the Securities Act or the Exchange Act,
from and against any losses, claims, damages or liabilities to which Caliper 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 (i) any untrue statement of a material fact
contained in the Registration Statement, or (ii) any failure by the Company to
fulfill any undertaking included in the Registration Statement, or (iii) any
violation or alleged violation by the Company of the Securities Act, the
Exchange Act or any rule or regulation promulgated under the Securities Act or
the Exchange Act, and the Company will reimburse Caliper for any reasonable
legal or other expenses reasonably incurred in investigating, defending or
preparing to defend any such action, proceeding or claim, 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, an untrue statement made in such
Registration Statement in reliance upon and in conformity with written
information

                                        9
<PAGE>   10

furnished to the Company by or on behalf of Caliper specifically for use in
preparation of the Registration Statement or the failure of Caliper to comply
with its covenants and agreements contained in Sections 5.3 or 6.2 hereof
respecting sale of the Registrable Shares or any statement or omission in any
Prospectus that is corrected in any subsequent Prospectus that was delivered to
Caliper prior to the pertinent sale or sales by Caliper.

                      (c) Caliper agrees to indemnify and hold harmless the
Company, the officers and directors of the Company, and each person, if any, who
controls the Company within the meaning of the Securities Act or the Exchange
Act 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, (i) any failure to comply with the covenants and agreements
contained in Section 5.3 or 6.2 hereof respecting sale of the Shares, or (ii)
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 Caliper specifically for use in
preparation of the Registration Statement, and Caliper will reimburse the
Company (or such officer, director or controlling person), as the case may be,
for any legal or other expenses reasonably incurred in investigating, defending
or preparing to defend any such action, proceeding or claim. Notwithstanding the
foregoing, Caliper's liability pursuant to this subsection (b) shall be limited
to the net amount received by Caliper from the sale of the Shares, unless such
liability resulted from gross negligence or willful misconduct by Caliper.

                      (d) 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 6.3,
such indemnified person shall notify the indemnifying person in writing of such
claim or of the commencement of such action, but the omission to so notify the
indemnifying party will not relieve it from any liability which it may have to
any indemnified party under this Section 6.3 (except to the extent that such
omission materially and adversely affects the indemnifying party's ability to
defend such action) or from any liability otherwise than under this Section 6.3.
Subject to the provisions hereinafter stated, in case any such action shall be
brought against an indemnified person, the indemnifying person shall be entitled
to participate therein, and, to the extent that it shall elect by written notice
delivered to the indemnified party promptly after receiving the aforesaid notice
from such indemnified party, shall be entitled to assume 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
indemnified person in connection with the defense thereof, provided, however,
that if there exists or shall exist a conflict of interest that would make it
inappropriate, in the opinion of counsel to the indemnified 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,
however, that no indemnifying person shall be responsible for the fees and
expenses of more than one separate counsel (together with appropriate local
counsel) for all indemnified parties. In no event shall any indemnifying person
be liable in respect of any amounts paid in settlement of any action unless the
indemnifying person shall have approved the terms of such settlement; provided
that such consent shall not be unreasonably withheld. No indemnifying person
shall, without the prior written consent of the indemnified person, effect any
settlement of any pending or threatened proceeding in respect of which any
indemnified person is or could have been a party and indemnification could have
been sought hereunder by such indemnified person,

                                       10
<PAGE>   11

unless such settlement includes an unconditional release of such indemnified
person from all liability on claims that are the subject matter of such
proceeding.

                      (e) If the indemnification provided for in this Section
6.3 is unavailable to or insufficient to hold harmless an indemnified party
under subsection (a) or (b) above in respect of any losses, claims, damages or
liabilities (or actions or proceedings in respect thereof) referred to therein,
then each indemnifying party shall contribute to the amount paid or payable by
such indemnified party as a result of such losses, claims, damages or
liabilities (or actions in respect thereof) in such proportion as is appropriate
to reflect the relative fault of the Company on the one hand and Caliper on the
other in connection with the statements or omissions or other matters which
resulted in such losses, claims, damages or liabilities (or actions in respect
thereof), as well as any other relevant equitable considerations. The relative
fault shall be determined by reference to, among other things, in the case of an
untrue statement, whether the untrue statement relates to information supplied
by the Company on the one hand or Caliper on the other and the parties' relative
intent, knowledge, access to information and opportunity to correct or prevent
such untrue statement. The Company and Caliper agree that it would not be just
and equitable if contribution pursuant to this subsection (d) were determined by
pro rata allocation (even if Caliper were treated as one entity for such
purpose) or by any other method of allocation which does not take into account
the equitable considerations referred to above in this subsection (d). The
amount paid or payable by an indemnified party as a result of the losses,
claims, damages or liabilities (or actions in respect thereof) referred to above
in this subsection (d) shall be deemed to include any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating
or defending any such action or claim. Notwithstanding the provisions of this
subsection (d), Caliper shall not be required to contribute any amount in excess
of the net amount received by Caliper from the sale of the 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.

                      (f) The parties to this Agreement hereby acknowledge that
they are sophisticated business persons who were represented by counsel during
the negotiations regarding the provisions hereof including, without limitation,
the provisions of this Section 6.3, and are fully informed regarding said
provisions.

                      They further acknowledge that the provisions of this
Section 6.3 fairly allocate the risks in light of the ability of the parties to
investigate the Company and its business in order to assure that adequate
disclosure is made in the Registration Statement as required by the Act and the
Exchange Act. The parties are advised that federal or state public policy as
interpreted by the courts in certain jurisdictions may be contrary to certain of
the provisions of this Section 6.3, and the parties hereto hereby expressly
waive and relinquish any right or ability to assert such public policy as a
defense to a claim under this Section 6.3 and further agree not to attempt to
assert any such defense.

               6.5 Termination of Conditions and Obligations. The conditions
precedent imposed by Section 5 or this Section 6 upon Dispositions of the
Registrable Shares by Caliper shall cease and terminate as to any particular
number of the Registrable Shares when 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 covering such Registrable Shares or at such time as an
opinion of counsel reasonably satisfactory to the Company shall have been
rendered to the effect that such conditions are not necessary in order to

                                       11
<PAGE>   12

comply with the Securities Act (provided that such opinion shall not be required
if the Company shall be furnished with written documentation reasonably
satisfactory to it that such Registrable Shares are being transferred in a
customary transaction exempt from registration under Rule 144 under the
Securities Act).

        7. Certain Dispositions of the Registrable Shares Following 18-Month
Anniversary.

               7.1 Definitions. For purposes of this Section 7, the following
definitions shall apply;

                      (a) "Business Day" shall have the meaning given it in the
Letter of Credit (as defined in Section 8).

                      (b) "Covered Shares" means, on any date, Registrable
Shares which, as of such date are not Uncovered Shares.

                      (c) "Fair Market Value" means, as of a particular date,
the value of Common Stock determined as follows:

                           (i) If the Common Stock is listed on any established
stock exchange or a national market system, including without limitation the
Nasdaq National Market of the National Association of Securities Dealers, Inc.
Automated Quotation ("Nasdaq") System, the Fair Market Value of a share of
Common Stock shall be the closing sales price for such stock (or the closing
bid, if no sales were reported) as quoted on such system or exchange (or the
exchange with the greatest volume of trading in Common Stock) on the market
trading day prior to such date, as reported in The Wall Street Journal;

                           (ii) If the Common Stock is quoted on the Nasdaq
System (but not on the Nasdaq National Market thereof) or is regularly quoted by
a recognized securities dealer but selling prices are not reported, the Fair
Market Value of a share of Common Stock shall be the mean between the high bid
and low asked prices for the Common Stock on the market trading day prior to
such date, as reported in The Wall Street Journal;

                           (iii) In the absence of an established market for the
Common Stock, the Fair Market Value shall be determined by a
nationally-recognized investment banking firm chosen by the Board of Directors
of the Company, subject to the approval of Caliper (which approval shall not be
unreasonably withheld).

                      (d) "Holding Period" shall mean the period beginning on
the effective date of the Registration Statement and ending on August 21, 2002.

                      (e) "Minimum Price" shall mean $36.11, as adjusted for any
increase or decrease in the number of issued shares of Common Stock resulting
from a stock split, reverse stock split, stock dividend, combination or
reclassification of the Common Stock, any exchange ratio in connection with any
merger, exchange offer or other business combination, or other similar event
occurring after the date hereof.

                                       12
<PAGE>   13

                      (f) "Threshold Number" for any day means 15% of the
average of the daily trading volume of the Common Stock as published in The Wall
Street Journal for the twenty (20) trading days preceding such day.

                      (g) "Uncovered Shares" means, on any date, Registrable
Shares with respect to which the Company's obligation to pay the Difference
pursuant to Section 7.2 has been deemed satisfied under and pursuant to the
provisions of Section 7.3(a).

               7.2 Certain Dispositions. Subject to Section 7.3:

                      (a) If, at any time after August 21, 2002 but before
February 21, 2003 Caliper provides notice (the "Notice of Disposition") to the
Company that Caliper desires to effect a Disposition of Covered Shares (which
Notice of Disposition shall include the date of the proposed disposition (the
"Proposed Disposition Date"), the number of Covered Shares proposed to be
disposed of and shall be delivered to the Company no less than ten (10) Business
Days before the Proposed Disposition Date), the Company may elect to repurchase
such Covered Shares by providing notice of such election to Caliper within five
(5) Business Days from receipt of the Notice of Disposition.

                      (b) If Company elects to repurchase such Covered Shares,
on the Proposed Disposition Date, Caliper shall deliver such Covered Shares to
the Company upon receipt from the Company, by wire transfer of immediately
available funds, of an amount equal to (i) the Fair Market Value on the Proposed
Disposition Date multiplied by the number of Covered Shares repurchased plus
(ii) the positive difference, if any, between the Minimum Price and Fair Market
Value on the Proposed Disposition Date multiplied by the number of Covered
Shares repurchased.

                      (c) If Company does not elect to repurchase such Covered
Shares, Company shall, within four (4) Business Days of receipt of notice from
Caliper of the Disposition of all or some of such Covered Shares by Caliper, pay
to Caliper, by wire transfer of immediately available funds, an amount equal to
the positive difference, if any, between the Minimum Price multiplied by the
number of Covered Shares sold by Caliper, and the net amount actually received
by Caliper from such Disposition (after deduction of applicable brokerage
commissions and fees). The notice shall include the number of Covered Shares
sold and the net amount actually received by Caliper from the sale of the
shares.

                      (d) If for any reason (including, without limitation,
because the sale of the Covered Shares is restricted under the Securities Act or
because there is no liquid market for the Covered Shares) any Covered Shares
included in the Notice of Disposition and not repurchased by the Company
pursuant to Section 7.2(b) remain unsold by Caliper thirty (30) days after the
date of the Notice of Disposition, Caliper shall so notify Company. Within four
(4) Business Days of receipt by Company of such notice, Company shall repurchase
such unsold Covered Shares by paying Caliper, by wire transfer of immediately
available funds, an amount equal to (i) the Fair Market Value on the day
preceding the date of such repurchase multiplied by the number of Covered Shares
repurchased, plus (ii) the positive difference, if any, between the Minimum
Price and such Fair Market Value multiplied by the number of Covered Shares
repurchased. Within four (4) Business Days of receipt of such amount from the
Company, Caliper shall deliver such repurchased Covered Shares to Company.

                                       13
<PAGE>   14

                      (e) Any amount paid by Company to Caliper under Section
7.2 (b)(ii), Section 7.2(c) or Section 7.2(d)(ii) shall be referred to as the
"Difference". The parties hereto agree that any payment of the Difference to
Caliper shall constitute part of the consideration for execution by Caliper of
this Agreement.

                      (f) With respect to the sale of Covered Shares on any
given trading day, Caliper covenants and agrees to instruct the broker handling
the Disposition (the "Broker") to sell, on any given trading day, a number of
Covered Shares that does not exceed the Threshold Number, calculated as of the
date of the Notice of Disposition.

                      (g) Notwithstanding anything in this Agreement to the
contrary, if at any time prior to February 21, 2003, the Company's shareholders
receive cash or securities in connection with a tender offer, recapitalization
transaction, merger or other business combination, then

               (i) if 95% or more of the market value of the consideration
        received by the Company's shareholders is cash, then the Company shall,
        within four (4) Business Days of receipt of notice from Caliper of the
        surrender by Caliper in such transaction of Covered Shares, pay to
        Caliper, by wire transfer of immediately available funds, an amount
        equal to the positive difference, if any, between the (x) Minimum Price
        multiplied by the number of Covered Shares surrendered by Caliper in
        such transaction, and (y) the sum of the net amount of cash plus the
        market value of any other consideration actually received by Caliper in
        such transaction; and

               (ii) if the consideration received by the Company's shareholders
        is not all cash, then the securities received by Caliper in such
        transaction shall be subject to the provisions of this Section 7 and
        shall be substituted in lieu of the Common Stock in all portions of this
        Section 7 and the Minimum Price shall be reduced by the amount of cash
        per share of Common Stock received by Caliper, and after such reduction,
        the Minimum Price shall be adjusted to give effect to such transaction.

               7.3 Limits on Company's Obligation to Pay Caliper.

                      (a) Notwithstanding anything to the contrary in Section
7.2, if on any trading day during the Holding Period (other than a day when
there is no Registration Statement in effect with respect to the Registrable
Shares (including, without limitation, during a Suspension) or the Company's
Common Stock is not listed on an established stock exchange or a national market
system), the average of the Fair Market Value of the Common Stock as determined
pursuant to Section 7.1(c)(i) on each of the five (5) market trading days prior
to such date is equal to or greater than the Minimum Price, then for each
consecutive trading day following such date on which the Fair Market Value is
equal to or greater than the Minimum Price, if Caliper does not sell the
Threshold Number of Registrable Shares for such day, then the Company's
obligation to pay the Difference pursuant to Section 7.2 shall be deemed
satisfied with respect to a number of Registrable Shares equal to the Threshold
Number for such day less the number of Registrable Shares actually sold on such
day; provided, however that if, on any day upon which Caliper would otherwise be
required to sell shares pursuant to this Section 7.3(a), Caliper instructs the
Broker to sell the Threshold Number of Registrable Shares for such day at or
above the Minimum Price (net of applicable brokerage commissions) and the Broker
fails to sell all of such Threshold Number of Registrable Shares at a price at
or above the Minimum Price (net of applicable brokerage commissions and fees),
the Company's obligation to pay the Difference shall not be deemed

                                       14
<PAGE>   15

satisfied with respect to such number of Registrable Shares that the Broker was
unable to sell at or above the Minimum Price (net of applicable brokerage
commissions and fees).

                      (b) If at the time of the sale by Caliper of any
Registrable Shares, there are any Uncovered Shares, then such sale of
Registrable Shares shall be deemed to be a sale of Covered Shares.

                      (c) Examples.

                           (i) Example 1. If the Fair Market Value of the Common
Stock during the Holding Period is at or above $36.11 per share for 12
consecutive trading days, and the daily Threshold Number for each of trading
days 6 through 12 is equal to 60,000, then, if Caliper sells no Registrable
Shares during days 6 through 12, the Company's obligation to repurchase the
Registrable Shares or to pay the Difference pursuant to Section 7.2 hereof shall
lapse and be deemed satisfied with respect to 360,000 Registrable Shares.
Assuming that Caliper sold no Registrable Shares during the Holding Period, at
the end of the Holding Period, Caliper would own 900,000 Registrable Shares, of
which 360,000 would be Uncovered Shares and 540,000 would be Covered Shares.

                           (ii) Example 2. If, in the case of Example 1 above,
Caliper further elects to sell 65,000 shares on Day 7, then under Section 7.3(a)
the Company's obligation to repurchase the Registrable Shares or to pay the
Difference pursuant to Section 7.2 hereof shall lapse and be deemed satisfied
with respect to 300,000 Registrable Shares. Assuming that Caliper sold no other
Registrable Shares during the Holding Period, at the end of the Holding Period,
Caliper would own 835,000 Registrable Shares, of which 300,000 would be
Uncovered Shares and 535,000 would be Covered Shares.

                           (iii) Example 3. If, in the case of Example 1 above,
Caliper further elects to sell 55,000 shares on Day 7, then under 7.3(a) the
Company's obligation to repurchase the Registrable Shares or to pay the
Difference pursuant to Section 7.2 hereof shall lapse and be deemed satisfied
with respect to 305,000 Registrable Shares. Assuming that Caliper sold no other
Registrable Shares during the Holding Period, at the end of the Holding Period,
Caliper would own 845,000 Registrable Shares, of which 305,000 would be
Uncovered Shares and 540,000 would be Covered Shares.

                           (iv) Example 4. If, in the case of Example 1 above,
Caliper further elects to sell 55,000 shares on Day 7, then under Section 7.3(a)
the Company's obligation to repurchase the Registrable Shares or to pay the
Difference pursuant to Section 7.2 hereof shall lapse and be deemed satisfied
with respect to 305,000 Registrable Shares. In addition, if the Fair Market
Value of the Common Stock was $35.00 on Day 13 and $37.00 on Day 14 and Caliper
elected to sell an additional 25,000 shares on Day 13, then at the end of the
Holding Period, Caliper would own 820,000 Registrable Shares, of which 305,000
would be Uncovered Shares and 515,000 would be Covered Shares.

               7.4 Except as to the limitations set forth in Sections 7.2(f) and
7.3 hereof, the Company shall have no obligation to pay the Difference for any
Disposition of Registrable Shares occurring prior to August 21, 2002 or after
February 21, 2003.

        8. Letter of Credit and Obligation of Caliper to Deliver Reduction
Certificates. A letter of credit, in the form attached hereto as Exhibit C,
shall be provided by Deutsche Bank (the "Bank")

                                       15
<PAGE>   16

for the benefit of Caliper, effective as of the date hereof (the "Letter of
Credit"). The stated amount of the Letter of Credit shall initially be $32.5
million (the "Stated Amount"). The Stated Amount shall be subject to reduction
in accordance with the subsections of this Section 8.

               (a) Term. The Letter of Credit will terminate upon the earlier of
(i) the date upon which, as a result of the submission to the Bank by Caliper of
a Draw Certificate or a Reduction Certificate pursuant to the Letter of Credit,
the Stated Amount of the Letter of Credit is reduced to zero; and (ii) August
26, 2003.

               (b) Payment of Fees for Letter of Credit and Right of Offset. The
Company shall invoice Caliper on a quarterly basis for fifty percent (50%) of
all fees paid by the Company to Bank during such quarter pursuant to that
certain fee agreement between the Company and the Bank (the "Fee Agreement");
provided that (i) Caliper shall pay one hundred percent (100%) of all fees
related to the Letter of Credit that accrue after the earlier to occur of (v)
five (5) Business days after the Disposition of all Covered Shares by Caliper in
a Disposition that does not require the Company to pay the Difference with
respect thereto; (w) five (5) Business Days after the payment by the Company of
the Difference in a Disposition that requires the Company to pay the Difference
with respect thereto; (x) five (5) Business Days after the repurchase of the
Registrable Shares and the payment of the Difference by the Company pursuant to
Section 7.2; (y) five (5) Business Days after the date that the Company's
obligations to pay the Difference has lapsed pursuant to Section 7.3 with
respect to all Registrable Shares; and (z) March 28, 2003; (ii) Caliper shall
pay one hundred percent (100%) of all fees attributable to the L/C Reduction
Amount (as defined below) with respect to each L/C Reduction (as defined below)
to the extent that such fees accrue after the L/C Reduction Date for such L/C
Reduction; and (iii) for purposes of this provision (x) an "L/C Reduction" means
any reduction in the Stated Amount of the Letter of Credit which would result
from the delivery by Caliper to the Bank of a Reduction Certificate pursuant to
Section 8(c)(i)(D) or Section 8(c)(i)(E); (y) "L/C Reduction Amount" means, for
any L/C Reduction, the amount of the reduction in the Stated Amount of the
Letter of Credit which results from the delivery by Caliper to the Bank of the
Reduction Certificate with respect to such L/C Reduction; and (z) "L/C Reduction
Date" means, for any L/C Reduction, the date five (5) Business Days after the
Company has made the payments referred in Section 8(c)(i)(D) or Section
8(c)(i)(E), as applicable, with respect to such L/C Reduction. All such invoices
shall be accompanied by a copy of the invoice submitted to the Company by the
Bank for such quarter. Caliper shall pay all properly invoiced fees within five
(5) Business Days of receipt of such invoice. The Company covenants and agrees
that it shall not modify the Fee Agreement without the prior written consent of
Caliper, which consent shall not be unreasonably withheld.

               (c) Covenants of Caliper.

                       (i) Caliper covenants and agrees that:

                           (A) if Caliper sells Registrable Shares on or prior
to August 21, 2002, other than pursuant to Section 7.3(a), then within five (5)
Business Days of the day on which Caliper sells such Registrable Shares it shall
submit to the Bank a duly completed Early Sale Certificate (as defined in the
Letter of Credit) with respect to such sale;

                           (B) within five (5) Business Days of the day on
which, pursuant to Section 7.3(a), the Company's obligation to pay the
Difference pursuant to Section 7.2 is deemed satisfied as with respect to any
Registrable Shares, Caliper shall submit to the Bank a duly

                                       16
<PAGE>   17

completed Reduced Obligation Certificate (as defined in the Letter of Credit)
with respect to such Registrable Shares;

                           (C) if Caliper sells Registrable Shares after August
21, 2002 and receives a net amount greater than $36.11 per share sold, then
within five (5) Business Days of the day on which such sale occurs, Caliper
shall submit to the Bank, a duly completed Sale Certificate (as defined in the
Letter of Credit) with respect to such sale;

                           (D) if Caliper sells Registrable Shares after August
21, 2002 and receives a net amount less than $36.11 per share sold, then within
one hundred fifty-one (151) days of the day on which Caliper receives the
payment from the Company of the amount required to be paid by the Company to
Caliper pursuant to Section 7.2(c), Caliper shall submit to the Bank, a duly
completed Sale Certificate with respect to such sale and payment; and

                           (E) if the Company repurchases Registrable Shares
pursuant to Section 7.2(b), then within one hundred fifty-one (151) days of the
day on which Caliper receives the payment from the Company of the amount
required to be paid by the Company to Caliper pursuant to Section 7.2(b) or
7.2(d), as applicable, Caliper shall submit to the Bank, a duly completed
Repurchase Certificate (as defined in the Letter of Credit) with respect to such
repurchase.

                      (ii) If Caliper fails to submit any certificate which it
is required to submit pursuant to Section 8(c)(i), then Caliper shall pay all
fees that are incurred by the Company with respect to the Letter of Credit as a
result of such failure.

        9. Notices. All notices, requests, consents and other communications
hereunder shall be in writing, shall be mailed (i) if within domestic United
States by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile, or (ii) if
delivered from outside the United States, by International Federal Express or
facsimile, and shall be deemed given (A) if delivered by first-class registered
or certified mail domestic, three business days after so mailed, (B) if
delivered by nationally recognized overnight carrier, one business day after so
mailed, (C) if delivered by International Federal Express, two business days
after so mailed, and (D) if delivered by facsimile, upon electric confirmation
of receipt and shall be delivered as addressed as follows:

               (a)     if to the Company, to:

                             ACLARA BioSciences, Inc.
                             1288 Pear Avenue
                             Mountain View, CA  94043-1432
                             Attn:  President and CEO
                             Phone:  (650) 210-1200
                             Telecopy:  (650) 210-1210

                       with a copy to:

                             Latham & Watkins
                             135 Commonwealth Drive
                             Menlo Park, CA  94025

                                       17
<PAGE>   18

                             Attn:  Michael W. Hall, Esq.
                             Phone:  (650) 328-4600
                             Telecopy:  (650) 463-2600

               (b)    if to Caliper, to the following address, or at such other
                      address or addresses as may have been furnished to the
                      Company in writing:

                              Caliper Technologies Corp.
                              605 Fairchild Drive
                              Mountain View, California 94043-2234
                              Attn:  Chief Accounting Officer
                              Phone:  (650) 623-0700
                              Telecopy: (650) 623-0505

                       with a copies to:

                              Caliper Technologies Corp.
                              605 Fairchild Drive
                              Mountain View, California 94043-2234
                              Attn:  Sr. Director of Legal Affairs
                              Phone:  (650) 623-0700
                              Telecopy: (650) 623-0505

                      and

                             Covington & Burling
                             601 California Street
                             San Francisco, CA 94108
                             Attn: James C. Snipes
                             Phone:  415-591-6000
                             Telecopy:  415-591-6091

        10. Changes. This Agreement may not be modified or amended except
pursuant to an instrument in writing signed by the Company and Caliper.

        11. 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.

        12. Governing Law. This Agreement shall be governed by, and construed in
accordance with, the internal laws of the State of California, without giving
effect to the principles of conflicts of law.

        13. Entire Agreement. Except for the provisions contained in Section 20
of the Settlement Agreement, this Agreement, together with the exhibits attached
hereto, constitutes the entire agreement between the parties hereto pertaining
to the subject matter hereof, and any and all other written or oral agreements
relating to such subject matter are expressly cancelled.

                                       18
<PAGE>   19

        14. 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. Finder's Fees. Each of the Company and Caliper represents that it
neither is nor will be obligated for any finder's fee or commission in
connection with this transaction.

        16. California Corporate Securities Law. THE SALE OF THE SECURITIES
WHICH ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE
COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF THE
SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR
PRIOR TO THE QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT
FROM QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA
CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY
CONDITIONED UPON THE QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.

        17. Dispute Resolution. All disputes, controversies, or claims of any
nature between or among the parties hereto arising our of, concerning or
relating to this Agreement shall be determined in accordance with Section 20 of
the Settlement Agreement.

        18. Assignment. This Agreement, and any rights and obligations arising
hereunder, may not be sold, transferred, assigned, delegated, pledged, or
otherwise disposed of, in whole or part, whether voluntarily, by operation of
law or otherwise, by any party without the prior written consent of the other
party, which consent shall not be unreasonably withheld, except that either
party may assign this Agreement, without the other party's consent, in
connection with a Change in Control (as defined by the Cross-License Agreement
entered into by and between the Company and Caliper as of even date herewith) of
the assigning party. As a condition to any assignment or transfer under this
Section 18, the assignee or transferee shall assume all obligations of its
assignor or transferor under this Agreement. The rights and liabilities of the
parties hereto will bind, and inure to the benefit of, their respective and
permitted assignees and successors. Any attempted assignment or transfer other
than in accordance with this Section 18 shall be null and void.

                            [SIGNATURE PAGE FOLLOWS]

                                       19
<PAGE>   20

               IN WITNESS WHEREOF, the parties have caused this Agreement to be
duly executed and delivered as of the day and year first written above.

 ACLARA BIOSCIENCES, INC.                  CALIPER TECHNOLOGIES CORPORATION
 a Delaware corporation                    a Delaware corporation

 /s/ Joseph M. Limber                      /s/ Daniel L. Kisner
 ------------------------------            -------------------------------------
 Joseph M. Limber                          Daniel L. Kisner
 President and Chief Executive Officer     President and Chief Executive Officer

               [SIGNATURE PAGE TO COMMON STOCK ISSUANCE AGREEMENT]

<PAGE>   21

                                    Exhibit A

                         CERTIFICATE OF SUBSEQUENT SALE

Mellon Investor Services LLC
85 Challenger Road
Ridgefield Park, NJ  07660
Attention:  Restricted Transfer Department, Phyllis Del Vecchio
Facsimile: (201) 296-4206

      RE:    Sale of Shares of Common Stock of ACLARA BioSciences, Inc. (the
             "Company") pursuant to the Company's Prospectus dated _____________
             (the "Prospectus")

Ladies and Gentlemen:

        The undersigned hereby certifies, in connection with the sale of shares
of Common Stock of the Company included in the table of Selling Stockholders in
the Prospectus, that the undersigned has sold the shares pursuant to the
Prospectus and in a manner described under the caption "Plan of Distribution" in
the Prospectus and in accordance with the Prospectus delivery requirements of
the Securities Act of 1933, as amended.

Selling Stockholder (the beneficial owner):
                                           -------------------------------------
Record Holder (e.g., if held in name of nominee):
                                                 -------------------------------
Restricted Stock Certificate No.(s):
                                    --------------------------------------------
Number of Shares Sold:
                      ----------------------------------------------------------
Date of Sale:
             -------------------------------------------------------------------

        In the event that you receive a stock certificate(s) representing more
shares of Common Stock than have been sold by the undersigned, then you should
return to the undersigned a newly issued certificate for such excess shares in
the name of the Record Holder and BEARING A RESTRICTIVE LEGEND. Further, you
should place a stop transfer on your records with regard to such certificate.

                                         Very truly yours,

Dated:                                   By:
       -----------------------------        ------------------------------------
                                         Print Name:
                                                    ----------------------------
                                         Title:
                                               ---------------------------------
cc:     President and CEO
        ACLARA BioSciences, Inc.
        1288 Pear Avenue
        Mountain View, CA  94043-1432

<PAGE>   22

                                    EXHIBIT B

                          LETTER FROM LATHAM & WATKINS

Caliper Technologies Corp.
650 Fairchild Drive
Mountain View, California 94043-2234

Ladies and Gentlemen:

        We have acted as special counsel to ACLARA BioSciences, Inc., a Delaware
corporation (the "Company"), in connection with the issuance of 900,000 shares
of the Company's common stock, par value $.001 per share (the "Shares"),
pursuant to the Common Stock Issuance Agreement by and between the Company and
Caliper Technologies Corp, a Delaware corporation, dated as of March ___, 2001
(the "Agreement"). Capitalized terms used herein and not otherwise defined
herein shall have the meanings given to them in the Agreement.

        As such counsel, we have examined such matters of fact and questions of
law as we have considered appropriate for purposes of this opinion. In our
examination, we have assumed the genuineness of all signatures (other than those
on behalf of the Company), the authenticity of all documents submitted to us as
originals, and the conformity to authentic original documents of all documents
submitted to us as copies. As to facts material to the opinions, statements and
assumptions expressed herein, we have, with your consent, relied upon oral or
written statements and representations of officers and other representatives of
the Company and others. In addition, we have obtained and relied upon such
certificates and assurances from public officials as we have deemed necessary.

        We are opining herein as to the effect on the subject transaction only
of the federal laws of the United States and the General Corporation Law of the
State of Delaware, and we express no opinion with respect to the applicability
thereto, or the effect thereon, of the laws of any other jurisdiction or, in the
case of Delaware, any other laws, or as to any matters of municipal law or the
laws of any local agencies within any state.

        Subject to the foregoing, it is our opinion, as of the date hereof, that
the Shares, upon issuance, delivery and payment therefor in the manner
contemplated by the Agreement, will be validly issued, fully paid and
nonassessable.

        This opinion is rendered only to you and is solely for your benefit in
connection with the transactions covered hereby. This opinion may not be relied
upon by you for any other purpose, without our prior written consent.

                                               Very truly yours,

<PAGE>   23

                                    EXHIBIT C

                            FORM OF LETTER OF CREDIT

<PAGE>   24

                                 March ___, 2001

Caliper Technologies Corp.
605 Fairchild Drive
Mountain View, CA 94043-2234
Attention:  Jim Knighton

               Re:    Irrevocable Standby Letter of Credit No.____________

Ladies and Gentlemen:

               We hereby establish at the request and for the account of ACLARA
BioSciences, Inc., a Delaware corporation (the "Company"), 1288 Pear Avenue,
Mountain View, California 94043-1432, in your favor our Irrevocable Standby
Letter of Credit No. ______________ (this "Letter of Credit") in the amount up
to Thirty-Two Million, Five Hundred Thousand United States Dollars (U.S.
$32,500,000.00) on the date hereof (as such amount is reduced from time to time
pursuant to the provision hereof, the "Stated Amount"), effective immediately
and expiring at our offices located at 31 West 52nd Street, New York, New York
10019 on the earlier of (i) the date upon which pursuant to a Draw Certificate
or a Reduction Certificate submitted to us by you, the Stated Amount of this
Letter of Credit is reduced to zero and (ii) August 26, 2003 (the "Stated
Termination Date"). Partial drawings are permitted hereunder.

               This Letter of Credit is issued to you in connection with that
certain Common Stock Issuance Agreement, made as of March ___, 2001 (as amended,
modified and supplemented from time to time, the "Issuance Agreement"), by and
between the Company and you. The Company has informed us that pursuant to the
Issuance Agreement, the Company has issued 900,000 shares of the Company's
common stock, $0.001 par value (the "Common Stock") to you and that under
certain circumstances, the Company is obligated to make payments to you with
respect to the Common Stock.

               We hereby irrevocably authorize you to draw on us by one or more
drawings in accordance with the terms and conditions of this Letter of Credit an
amount not to exceed Stated Amount at the time of such drawing, after giving
effect to all reductions in the Stated Amount on or prior to the date of such
drawing. Funds under this Letter of Credit will be made available to you against
presentation to us at our offices as aforesaid of any of the following
certificates:

                (1) a duly completed Stock Sale Draw Certificate in the form of
        Annex A hereto (such certificate, a "Stock Sale Draw Certificate"),
        which Stock Sale Draw Certificate is to be submitted by you if, pursuant
        to the Issuance Agreement, you have sold shares of Common Stock and the
        Company has failed

<PAGE>   25

        to make the payments required pursuant to Section 7.2(c) of the Issuance
        Agreement in connection with such sale; or

                (2) a duly completed Stock Repurchase Draw Certificate in the
        form of Annex B hereto (such certificate, a "Stock Repurchase Draw
        Certificate"), which Stock Purchase Draw Certificate is to be submitted
        by you if, pursuant to the Issuance Agreement, the Company has failed to
        make the payments required pursuant to Section 7.2(b)(i) and Section
        7.2(b)(ii) of the Issuance Agreement in connection with such repurchase;

                (3) a duly completed Remainder Stock Repurchase Draw Certificate
        in the form of Annex C hereto (such certificate, a "Remainder Stock
        Repurchase Draw Certificate"), which Remainder Stock Purchase Draw
        Certificate is to be submitted by you if, pursuant to the Issuance
        Agreement, the Company has failed to make the payments required pursuant
        to Section 7.2(d)(i) and Section 7.2(d)(ii) of the Issuance Agreement in
        connection with such repurchase; or

                (4) a duly completed Cash Tender Offer Draw Certificate in the
        form of Annex D hereto (such certificate, a "Cash Tender Offer Draw
        Certificate"), which Cash Tender Offer Draw Certificate is to be
        submitted by you if, pursuant to the Issuance Agreement, the Company has
        failed to make the payments required pursuant to Section 7.2(f) in
        connection with such transaction; or

                (5) a duly completed Disgorgement Draw Certificate in the form
        of Annex E hereto (such certificate, a "Disgorgement Draw Certificate,"
        and together with the Stock Sale Draw Certificate, the Stock Repurchase
        Draw Certificate, the Remainder Stock Repurchase Draw Certificate and
        the Cash Tender Offer Draw Certificate, collectively, the "Draw
        Certificates" and individually, a "Draw Certificate"), which
        Disgorgement Draw Certificate is to be submitted by you if any amount
        paid to you by the Company pursuant to Section 7.2 of the Issuance
        Agreement is repaid by you voluntarily to, or as a result of the
        recovery by, the Company (or by a trustee in the Bankruptcy Case (as
        defined below)) as a preferential transfer or other avoidable
        transaction in any case under the U.S. Bankruptcy Code or under any
        other applicable bankruptcy, insolvency, liquidation, reorganization,
        receivership or similar law (collectively and individually referred to
        as the "Bankruptcy Case"), in which the Company is the debtor, or
        alleged debtor.

A Draw Certificate may be presented to us at our offices as aforesaid on or
before 5:00 P.M. (New York City time) on any Business Day (defined below) from
and including August 21, 2001 to and including the Stated Termination Date;
provided, however, that in the event the Stated Termination Date shall not be a
Business Day, such Stated Termination Date shall be automatically extended to
the next succeeding Business Day. In the event we receive the

                                        2
<PAGE>   26
applicable Draw Certificate on a Business Day on or prior to 11:00 A.M. (New
York City time), we hereby irrevocably agree to honor such draw request no later
than three (3) Business Days thereafter by payment to you in immediately
available funds of the amount demanded in such Draw Certificate. In the event we
receive the applicable Draw Certificate on a Business Day after 11:00 A.M. (New
York City time), we hereby irrevocably agree to honor such draw request no later
than four (4) Business Days thereafter by payment to you in immediately
available funds of the amount demanded in such Draw Certificate. We shall have
no obligation to verify the accuracy of the information contained in any Draw
Certificate or to verify any of the calculations contained in any Draw
Certificate. As used herein "Business Day" shall mean any day other than a
Saturday or Sunday on which banks in the City and State of New York are not
authorized by law or governmental order to close.

               The Stated Amount of this Letter of Credit shall be reduced in
the following circumstances:

                      (a) on the date of a payment by us of a draw made pursuant
        to a Stock Sale Draw Certificate, the Stated Amount of this Letter of
        Credit shall be reduced by the amount set forth in paragraph 7 of the
        Stock Sale Draw Certificate;

                      (b) on the date of a payment by us of a draw made pursuant
        to a Stock Repurchase Draw Certificate, the Stated Amount of this Letter
        of Credit shall be reduced by the amount set forth in paragraph 6 of the
        Stock Repurchase Draw Certificate;

                      (c) on the date of a payment by us of a draw made pursuant
        to a Remainder Stock Repurchase Draw Certificate, the Stated Amount of
        this Letter of Credit shall be reduced by the amount set forth in
        paragraph 7 of the Remainder Stock Repurchase Draw Certificate;

                      (d) on the date of a payment by us of a draw made pursuant
        to a Cash Tender Offer Draw Certificate, the Stated Amount of this
        Letter of Credit shall be reduced by the amount set forth in paragraph 5
        of the Cash Tender Offer Draw Certificate;

                      (e) on the date of a payment by us of a draw made pursuant
        to a Disgorgement Draw Certificate, the Stated Amount of this Letter of
        Credit shall be reduced by the amount set forth in paragraph 5 of the
        Disgorgement Draw Certificate;

                      (f) on the Business Day following the date of receipt by
        us of a duly completed Early Sale Certificate in the form of Annex F
        hereto (such certificate, an "Early Sale Certificate"), the Stated
        Amount of this Letter of Credit shall be reduced by an amount equal to
        $36.11 times the number of shares of the Common Stock identified in
        paragraph 1 of such Early Sale Certificate as shares of the Common Stock
        that you have sold;

                                        3
<PAGE>   27

                      (g) on the Business Day following the date of receipt by
        us of a duly completed Reduced Obligation Certificate in the form of
        Annex G hereto (such certificate, a "Reduced Obligation Certificate"),
        the Stated Amount of this Letter of Credit shall be reduced by an amount
        equal to $36.11 times the number of shares of the Common Stock
        identified in the certification in such Reduced Obligation Certificate
        as shares of the Common Stock with respect to which the Company no
        longer has an obligation to make a payment to you;

                      (h) on the Business Day following the date of receipt by
        us of a duly completed Sale Certificate in the form of Annex H hereto
        (such certificate, a "Sale Certificate"), the Stated Amount of this
        Letter of Credit shall be reduced by an amount equal to $36.11 times the
        number of shares of the Common Stock identified in paragraph 1 of such
        Sale Certificate as shares of the Common Stock that you have sold; and

                      (i) on the Business Day following the date of receipt by
        us of a duly completed Repurchase Certificate in the form of Annex I
        hereto (such certificate, a "Repurchase Certificate," and together with
        the Early Sale Certificate, the Reduced Obligation Certificate and the
        Sale Certificate, collectively, the "Reduction Certificates" and
        individually a "Reduction Certificate"), the Stated Amount of this
        Letter of Credit shall be reduced by an amount equal to $36.11 times the
        number of shares of the Common Stock identified in the certification in
        such Repurchase Certificate as shares of the Common Stock that the
        Company has repurchased from you.

A Reduction Certificate may be presented to us at our offices as aforesaid on or
before 5:00 P.M. (New York City time) on any Business Day.

               Any presentation of a Draw Certificate or a Reduction Certificate
may be made (i) in person at our offices located at
______________________________________, or (ii) by overnight courier sent to
________________________________________, Attention: _____________, or at such
other address or addresses as we may furnish to you in writing. Any such
presentation shall be effective upon our receipt of the Draw Certificate or
Reduction Certificate.

               This Letter of Credit sets forth in full our undertaking and such
undertaking shall not in any way be modified, amended, amplified or limited by
reference to any document, instrument or agreement referred to herein, and any
such reference shall not be deemed to incorporate herein by reference any other
document, instrument or agreement.

               This Letter of Credit shall be subject to the provisions of the
Uniform Customs and Practice for Documentary Letters of Credit (1993 Revision),
International Chamber of Commerce, Publication 500 (the "UCP") and to the laws
of the State of New York (regardless of any provision in such laws to the
contrary, including without limitation the provisions of Article 5-102 (4) of
the Uniform Commercial Code in effect in the State of New York). In the event of

                                        4
<PAGE>   28

any conflict between the provisions of the UCP and the laws of the State of New
York, the laws of the State of New York shall control.

               This Letter of Credit is non-transferable and non-negotiable.

                                            Very truly yours,

                                            DEUTSCHE BANK AG, NEW YORK BRANCH

                                            By:
                                               ---------------------------------
                                                Name:
                                                     ---------------------------
                                                Title:
                                                      --------------------------

                                            By:
                                               ---------------------------------
                                                Name:
                                                     ---------------------------
                                                Title:
                                                      --------------------------

                                        5
<PAGE>   29

                                     ANNEX A

                       FORM OF STOCK SALE DRAW CERTIFICATE

                                     [Date]

Deutsche Bank AG, New York Branch

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

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

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

Attention:
          -----------------------

               Re:    Deutsche Bank AG, Irrevocable Standby Letter of Credit
                      No.
                         ----------------------------------------------------
Ladies and Gentlemen:

               The undersigned, an authorized officer of Caliper Technologies
Corp., a Delaware corporation (the "Beneficiary"), hereby, makes reference to
that certain Irrevocable Standby Letter of Credit No. _______________ issued by
Deutsche Bank AG, New York Branch (the "Bank"), in the favor of the Beneficiary
and dated March ___, 2001 (the "Letter of Credit"). Unless otherwise defined
herein, capitalized terms used herein shall have the meanings set forth in this
Letter of Credit.

               The undersigned hereby certifies that:

                      1) as required pursuant to Section 7.2(a) of the Issuance
        Agreement, on _______________, 20__, the Beneficiary provided notice to
        the Company that the Beneficiary desired to effect a Disposition (as
        defined in the Issuance Agreement) of _______________ (______) shares of
        Common Stock (such shares, the "Offered Shares");

                      2) the Company did not elect to repurchase the Offered
        Shares;

                      3) as required pursuant to Section 7.2(c) of the Issuance
        Agreement, on _______________, 20_____,(1) the Beneficiary gave the
        Company notice that the Beneficiary had Disposed of _______________
        (_____) shares of the Offered Shares for a net amount of _________
        dollars and __________ cents ($___.___) per share;

--------

        (1) This date cannot be earlier than ten (10) Business Days after the
date of the notice referred to in paragraph 1.

                                       A-1
<PAGE>   30
                      4) pursuant to Section 7.2(c) of the Issuance Agreement,
        the Company was obligated to pay to the Beneficiary, on or prior to
        _______________, 20__,(2) an amount equal to _________ dollars and
        __________ cents ($___.___) per share,(3) for a total payment of
        _________ dollars and __________ cents ($___.___) (such amount, the
        "Draw Amount");

                      5) as of the date hereof, the Company has not paid
        __________ dollars and __________ cents ($___.___) of the Draw Amount
        (such unpaid amount, the "Demanded Amount") and such failure to pay
        remains unremedied;

                      6) the Demanded Amount does not exceed the Stated Amount
        of the Letter of Credit as of the date hereof; and

                      7) on the date of the payment of the draw demanded
        pursuant to this Stock Sale Draw Certificate, the Stated Amount of the
        Letter of Credit shall be reduced by __________ dollars and __________
        cents ($___.___).(4)

               Based on the certifications set forth in this certificate, the
Beneficiary hereby requests that the Bank make a payment to the Beneficiary
under the Letter of Credit in an amount equal to the Demanded Amount.

               IN WITNESS WHEREOF, the undersigned has executed this Stock Sale
Draw Certificate as of _______________, 20_____.

                                            CALIPER TECHNOLOGIES CORP.,
                                            a Delaware corporation

                                            By:
                                               ---------------------------------
                                                Name:
                                                     ---------------------------
                                                Title:
                                                      --------------------------
----------

        (2) This date cannot be earlier than four (4) Business Days after the
date referred to in paragraph 3.

        (3) The amount per share is $36.11 minus the net amount per share set
forth in paragraph 3.

        (4) The amount of the reduction in the Stated Amount is $36.11 times the
number of shares set forth in paragraph 3.

                                       A-2
<PAGE>   31

                                     ANNEX B

                    FORM OF STOCK REPURCHASE DRAW CERTIFICATE

                                     [Date]

Deutsche Bank AG, New York Branch

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

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

----------------------------------
Attention:
          ------------------------

               Re:    Deutsche Bank AG, Irrevocable Standby Letter of Credit
                      No.
                         ---------------------------------------------------

Ladies and Gentlemen:

               The undersigned, an authorized officer of Caliper Technologies
Corp., a Delaware corporation (the "Beneficiary"), hereby, makes reference to
that certain Irrevocable Standby Letter of Credit No. _______________ issued by
Deutsche Bank AG, New York Branch (the "Bank"), in the favor of the Beneficiary
and dated March ___, 2001 (the "Letter of Credit"). Unless otherwise defined
herein, capitalized terms used herein shall have the meanings set forth in this
Letter of Credit.

               The undersigned hereby certifies that:

                      1) as required pursuant to Section 7.2(a) of the Issuance
        Agreement, on _______________, 20_____, the Beneficiary provided notice
        to the Company that the Beneficiary desired to effect a Disposition (as
        defined in the Issuance Agreement) of _______________ (______) shares of
        Common Stock (such shares, the "Repurchased Shares");

                      2) on _______________, 20_____, the Company elected to
        repurchase the Repurchased Shares pursuant to section 7.2(b) of the
        Issuance Agreement;

                      3) pursuant to Section 7.2(b)(i) and Section 7.2(b)(ii) of
        the Issuance Agreement, the Company was obligated to pay to the
        Beneficiary, on or prior to _______________, 20_____,(1) an amount equal
        to _________ dollars and __________ cents ($___.___) per share, for a
        total payment of _________ dollars and __________ cents ($___.___) (such
        amount, the "Draw Amount");

--------

        (1) This date cannot be earlier than ten (10) Business Days after the
date referred to in paragraph 1.

                                       B-1
<PAGE>   32

                      4) as of the date hereof, the Company has not paid
        __________ dollars and __________ cents ($___.___) of the Draw Amount
        (such unpaid amount, the "Demanded Amount") and such failure to pay
        remains unremedied; and

                      5) the Demanded Amount does not exceed the Stated Amount
        of the Letter of Credit as of the date hereof; and

                      6) on the date of the payment of the draw demanded
        pursuant to this Stock Sale Draw Certificate, the Stated Amount of the
        Letter of Credit shall be reduced by __________ dollars and __________
        cents ($___.___).(2)

               Based on the certifications set forth in this certificate, the
Beneficiary hereby requests that the Bank make a payment to the Beneficiary
under the Letter of Credit in an amount equal to the Demanded Amount.

               IN WITNESS WHEREOF, the undersigned has executed this Stock
Repurchase Draw Certificate as of _______________, 20_____.

                                            CALIPER TECHNOLOGIES CORP.,
                                            a Delaware corporation

                                            By:
                                               ---------------------------------
                                                Name:
                                                     ---------------------------
                                                Title:
                                                      --------------------------

----------

        (2) The amount of the reduction in the Stated Amount is $36.11 times the
number of shares set forth in paragraph 1.

                                       B-2
<PAGE>   33

                                     ANNEX C

               FORM OF REMAINDER STOCK REPURCHASE DRAW CERTIFICATE

                                     [Date]

Deutsche Bank AG, New York Branch

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

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

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

Attention:
          ------------------------

               Re:    Deutsche Bank AG, Irrevocable Standby Letter of Credit
                      No.
                         ---------------------------------------------------

Ladies and Gentlemen:

               The undersigned, an authorized officer of Caliper Technologies
Corp., a Delaware corporation (the "Beneficiary"), hereby, makes reference to
that certain Irrevocable Standby Letter of Credit No. _______________ issued by
Deutsche Bank AG, New York Branch (the "Bank"), in the favor of the Beneficiary
and dated March ___, 20__ (the "Letter of Credit"). Unless otherwise defined
herein, capitalized terms used herein shall have the meanings set forth in this
Letter of Credit.

               The undersigned hereby certifies that:

                      1) as required pursuant to Section 7.2(a) of the Issuance
        Agreement, on _______________, 20__, the Beneficiary provided notice to
        the Company that the Beneficiary desired to effect a Disposition (as
        defined in the Issuance Agreement) of _______________ (______) shares of
        Common Stock (such shares, the "Offered Shares");

                      2) the Company did not elect to repurchase the Offered
        Shares;

                      3) as required pursuant to Section 7.2(d) of the Issuance
        Agreement, on _______________, 20_____,(1) the Beneficiary gave the
        Company notice that the Beneficiary had not be able to Dispose of
        _______________ (_____) shares of the Offered Shares;

                      4) pursuant to Section 7.2(d)(i) and Section 7.2(d)(ii) of
        the Issuance Agreement, the Company was obligated to pay to the
        Beneficiary, on or

----------

        (1) This date cannot be earlier than thirty (30) days after the date of
the notice referred to in paragraph 1.

                                       C-1
<PAGE>   34

        prior to _______________, 20__,(2) an amount equal to thirty-six dollars
        and eleven cents ($36.11) per share, for a total payment of _________
        dollars and __________ cents ($___.___) (such amount, the "Draw
        Amount");

                      5) as of the date hereof, the Company has not paid
        __________ dollars and __________ cents ($___.___) of the Draw Amount
        (such unpaid amount, the "Demanded Amount") and such failure to pay
        remains unremedied;

                      6) the Demanded Amount does not exceed the Stated Amount
        of the Letter of Credit as of the date hereof; and

                      7) on the date of the payment of the draw demanded
        pursuant to this Remainder Stock Sale Draw Certificate, the Stated
        Amount of the Letter of Credit shall be reduced by __________ dollars
        and __________ cents ($___.___).(3)

               Based on the certifications set forth in this certificate, the
Beneficiary hereby requests that the Bank make a payment to the Beneficiary
under the Letter of Credit in an amount equal to the Demanded Amount.

               IN WITNESS WHEREOF, the undersigned has executed this Stock Sale
Draw Certificate as of _______________, 20_____.

                                            CALIPER TECHNOLOGIES CORP.,
                                            a Delaware corporation

                                            By:
                                               ---------------------------------
                                                Name:
                                                     ---------------------------
                                                Title:
                                                      --------------------------

----------

        (2) This date cannot be earlier than four (4) Business Days after the
date referred to in paragraph 3.

        (3) The amount of the reduction in the Stated Amount is $36.11 times the
number of shares set forth in paragraph 3.

                                       C-2
<PAGE>   35

                                     ANNEX D

                   FORM OF CASH TENDER OFFER DRAW CERTIFICATE

                                     [Date]

Deutsche Bank AG, New York Branch

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

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

----------------------------------
Attention:
          ------------------------

               Re:    Deutsche Bank AG, Irrevocable Standby Letter of Credit
                      No.
                         ----------------------------------------------------

Ladies and Gentlemen:

               The undersigned, an authorized officer of Caliper Technologies
Corp., a Delaware corporation (the "Beneficiary"), hereby, makes reference to
that certain Irrevocable Standby Letter of Credit No. _______________ issued by
Deutsche Bank AG, New York Branch (the "Bank"), in the favor of the Beneficiary
and dated March ___, 2001 (the "Letter of Credit"). Unless otherwise defined
herein, capitalized terms used herein shall have the meanings set forth in this
Letter of Credit.

               The undersigned hereby certifies that:

                      1) as required pursuant to Section 7.2(f) of the Issuance
        Agreement, on _______________, 20__, the Beneficiary provided notice to
        the Company that it had surrendered _____________ (_________) Covered
        Shares (as defined in the Issuance Agreement) and received cash in
        exchange therefor in connection with a tender offer, recapitalization
        transaction, merger or other business combination;

                      2) pursuant to Section 7.2(f) of the Issuance Agreement,
        the Company was obligated to pay to the Beneficiary, on or prior to
        ______, 20__(1), an amount equal to ___________ dollars and _______
        cents ($__.__) per share, for a total payment of ___________ dollars and
        _______ cents ($__.__) (such amount, the "Draw Amount");

                      3) as of the date hereof, the Company has not paid
        __________ dollars and __________ cents ($___.___) of the Draw Amount
        (such

----------

        (1) This date cannot be earlier than four (4) days after the date of the
notice referred to in paragraph 1.

                                       D-1
<PAGE>   36
        unpaid amount, the "Demanded Amount") and such failure to pay remains
        unremedied;

                      4) the Demanded Amount does not exceed the Stated Amount
        of the Letter of Credit as of the date hereof; and

                      5) on the date of the payment of the draw demanded
        pursuant to this Remainder Stock Sale Draw Certificate, the Stated
        Amount of the Letter of Credit shall be reduced by __________ dollars
        and __________ cents ($___.___).(2)

               Based on the certifications set forth in this certificate, the
Beneficiary hereby requests that the Bank make a payment to the Beneficiary
under the Letter of Credit in an amount equal to the Demanded Amount.

               IN WITNESS WHEREOF, the undersigned has executed this Stock Sale
Draw Certificate as of _______________, 20_____.

                                            CALIPER TECHNOLOGIES CORP.,
                                            a Delaware corporation

                                            By:
                                               ---------------------------------
                                            Name:
                                                 -------------------------------
                                            Title:
                                                  ------------------------------

----------

        (2) The amount of the reduction in the Stated Amount is $36.11 times the
number of shares set forth in paragraph 1.

                                       D-2
<PAGE>   37

                                     ANNEX E

                      FORM OF DISGORGEMENT DRAW CERTIFICATE

                                     [Date]

Deutsche Bank AG, New York Branch

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

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

----------------------------------
Attention:
          ------------------------

               Re:    Deutsche Bank AG, Irrevocable Standby Letter of Credit
                      No.
                         ---------------------------------------------------

Ladies and Gentlemen:

               The undersigned, an authorized officer of Caliper Technologies
Corp., a Delaware corporation (the "Beneficiary"), hereby, makes reference to
that certain Irrevocable Standby Letter of Credit No. _______________ issued by
Deutsche Bank AG, New York Branch (the "Bank"), in the favor of the Beneficiary
and dated March ___, 2001 (the "Letter of Credit"). Unless otherwise defined
herein, capitalized terms used herein shall have the meanings set forth in this
Letter of Credit.

               The undersigned hereby certifies that:

                      1) on _______________, 20_____, the Beneficiary received a
        payment from the Company in an amount of _________ dollars and
        __________ cents ($___.___) pursuant to Section 7.2 of the Issuance
        Agreement;

                      2) the Company is currently the subject of the Bankruptcy
        Case;

                      3) on _______________, 20_____, the Beneficiary repaid to
        the Company (or by a trustee in the Bankruptcy Case ) a total amount of
        _________ dollars and __________ cents ($___.___) (the "Disgorged
        Amount") as a voluntary payment to, or as a result of the recovery by,
        the Company (or by a trustee in the Bankruptcy Case ) as a preferential
        transfer or other avoidable transaction in the Bankruptcy Case, which
        amount is a portion of the amount described in paragraph 1 of this
        Disgorgement Draw Certificate;

                      4) the Disgorged Amount does not exceed the Stated Amount
        of the Letter of Credit as of the date of presentment of this
        Disgorgement Draw Certificate; and

                                       E-1
<PAGE>   38

                      5) on the date of the payment of the draw demanded
        pursuant to this Disgorgement Draw Certificate, the Stated Amount of the
        Letter of Credit shall be reduced by the Disgorged Amount.

               Based on the certifications set forth in this certificate, the
Beneficiary hereby requests that the Bank make a payment to the Beneficiary
under the Letter of Credit in an amount equal to the Disgorged Amount.

               IN WITNESS WHEREOF, the undersigned has executed this
Disgorgement Draw Certificate as of _______________, 20_____.

                                            CALIPER TECHNOLOGIES CORP.,
                                            a Delaware corporation

                                            By:
                                               ---------------------------------
                                                Name:
                                                     ---------------------------
                                                Title:
                                                      --------------------------

                                       E-2
<PAGE>   39

                                     ANNEX F

                         FORM OF EARLY SALE CERTIFICATE

                                     [Date]

Deutsche Bank AG, New York Branch

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

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

----------------------------------
Attention:
          ------------------------

               Re:    Deutsche Bank AG, Irrevocable Standby Letter of Credit
                      No.
                         ---------------------------------------------------

Ladies and Gentlemen:

               The undersigned, an authorized officer of Caliper Technologies
Corp., a Delaware corporation (the "Beneficiary"), hereby, makes reference to
that certain Irrevocable Standby Letter of Credit No. _______________ issued by
Deutsche Bank AG, New York Branch (the "Bank"), in the favor of the Beneficiary
and dated March ___, 2001 (the "Letter of Credit"). Unless otherwise defined
herein, capitalized terms used herein shall have the meanings set forth in this
Letter of Credit.

               The undersigned hereby certifies that:

                      1) on _______________, 20__, the Beneficiary sold
        _______________ (______) shares of Common Stock (such shares, the "Sold
        Shares"); and

                      2) pursuant to the Issuance Agreement, any sale by the
        Beneficiary of shares of Common Stock prior to August 21, 2002 results
        in a reduction of the obligations of the Company under the Issuance
        Agreement.

               Based on the certifications set forth in this certificate, the
Beneficiary hereby requests that the Stated Amount of the Letter of Credit be
reduced by an amount equal to _________ dollars and __________ cents
($___.___).(1)

----------

        (1) The amount is $36.11 times the number of shares set forth in
paragraph 1.

                                       F-1
<PAGE>   40

               IN WITNESS WHEREOF, the undersigned has executed this Early Sale
Certificate as of _______________, 20_____.

                                            CALIPER TECHNOLOGIES CORP.,
                                            a Delaware corporation

                                            By:
                                               ---------------------------------
                                                Name:
                                                     ---------------------------
                                                Title:
                                                      --------------------------

                                       F-2
<PAGE>   41

                                     ANNEX G

                     FORM OF REDUCED OBLIGATION CERTIFICATE

                                     [Date]

Deutsche Bank AG, New York Branch

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

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

----------------------------------
Attention:
          ------------------------

               Re:    Deutsche Bank AG, Irrevocable Standby Letter of Credit
                      No.
                         ---------------------------------------------------

Ladies and Gentlemen:

               The undersigned, an authorized officer of Caliper Technologies
Corp., a Delaware corporation (the "Beneficiary"), hereby, makes reference to
that certain Irrevocable Standby Letter of Credit No. _______________ issued by
Deutsche Bank AG, New York Branch (the "Bank"), in the favor of the Beneficiary
and dated March ___, 2001 (the "Letter of Credit"). Unless otherwise defined
herein, capitalized terms used herein shall have the meanings set forth in this
Letter of Credit.

               The undersigned hereby certifies that, pursuant to Section 7.3(a)
of the Issuance Agreement, on _______________, 20__, the Company no longer has
an obligation to make payments to the Beneficiary with respect to
_______________ (______) shares of Common Stock.

               Based on the certifications set forth in this certificate, the
Beneficiary hereby requests that the Stated Amount of the Letter of Credit be
reduced by an amount equal to _________ dollars and __________ cents
($___.___).(1)

               IN WITNESS WHEREOF, the undersigned has executed this Reduced
Obligation Certificate as of _______________, 20_____.

                                            CALIPER TECHNOLOGIES CORP.,
                                            a Delaware corporation

                                            By:
                                               ---------------------------------
                                                Name:
                                                     ---------------------------

----------

        (1) The amount is $36.11 times the number of shares set forth in the
certification above.

                                       G-1
<PAGE>   42

                                                Title:
                                                      --------------------------

                                       G-2
<PAGE>   43

                                     ANNEX H

                            FORM OF SALE CERTIFICATE

                                     [Date]

Deutsche Bank AG, New York Branch

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

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

---------------------------------
Attention:
          -----------------------

               Re:    Deutsche Bank AG, Irrevocable Standby Letter of Credit
                      No.
                         ---------------------------------------------------

Ladies and Gentlemen:

               The undersigned, an authorized officer of Caliper Technologies
Corp., a Delaware corporation (the "Beneficiary"), hereby, makes reference to
that certain Irrevocable Standby Letter of Credit No. _______________ issued by
Deutsche Bank AG, New York Branch (the "Bank"), in the favor of the Beneficiary
and dated March ___, 2001 (the "Letter of Credit"). Unless otherwise defined
herein, capitalized terms used herein shall have the meanings set forth in this
Letter of Credit.

               The undersigned hereby certifies that:

                      1)     on _______________, 20__, the Beneficiary sold
        _______________ (______) shares of Common Stock (such shares, the "Sold
        Shares"); and

                      2) The Company has made all payments, if any, required to
        be made by the Company to the Beneficiary pursuant to the Issuance
        Agreement with respect to the Sold Shares.

               Based on the certifications set forth in this certificate, the
Beneficiary hereby requests that the Stated Amount of the Letter of Credit be
reduced by an amount equal to _________ dollars and __________ cents
($___.___).(1)

----------

        (1) The amount is $36.11 times the number of shares set forth in
paragraph 1.

                                       H-1
<PAGE>   44

               IN WITNESS WHEREOF, the undersigned has executed this Sale
Certificate as of _______________, 20_____.

                                            CALIPER TECHNOLOGIES CORP.,
                                            a Delaware corporation

                                            By:
                                               ---------------------------------
                                                Name:
                                                     ---------------------------
                                                Title:
                                                      --------------------------

                                       H-2
<PAGE>   45

                                     ANNEX I

                         FORM OF REPURCHASE CERTIFICATE

                                     [Date]

Deutsche Bank AG, New York Branch

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

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

----------------------------------
Attention:
          ------------------------

               Re:    Deutsche Bank AG, Irrevocable Standby Letter of Credit
                      No.
                         ---------------------------------------------------

Ladies and Gentlemen:

               The undersigned, an authorized officer of Caliper Technologies
Corp., a Delaware corporation (the "Beneficiary"), hereby, makes reference to
that certain Irrevocable Standby Letter of Credit No. _______________ issued by
Deutsche Bank AG, New York Branch (the "Bank"), in the favor of the Beneficiary
and dated March ___, 2001 (the "Letter of Credit"). Unless otherwise defined
herein, capitalized terms used herein shall have the meanings set forth in this
Letter of Credit.

               The undersigned hereby certifies that on _______________, 20__,
the Company repurchased _______________ (______) shares of Common Stock from the
Beneficiary.

               Based on the certifications set forth in this certificate, the
Beneficiary hereby requests that the Stated Amount of the Letter of Credit be
reduced by an amount equal to _________ dollars and __________ cents
($___.___).(1)

               IN WITNESS WHEREOF, the undersigned has executed this Repurchase
Certificate as of _______________, 20_____.

                                            CALIPER TECHNOLOGIES CORP.,
                                            a Delaware corporation

                                            By:
                                               ---------------------------------
                                                Name:
                                                     ---------------------------
                                                Title:
                                                      --------------------------
-----------

        (1) The amount is $36.11 times the number of shares set forth in the
certification above.

                                       I-1

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