Document:

Amendment No.2, dated as of December 11, 2009 to the Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 AMENDMENT No. 2 dated
as of December 11, 2009 (this “Amendment”), to the Credit Agreement dated as of November 23, 2005 (as amended through the date hereof, the “Credit Agreement”), among TEAM HEALTH HOLDINGS, L.L.C., a
Delaware limited liability company (“Holdings”), TEAM FINANCE LLC, a Delaware limited liability company (the “Borrower”), the LENDERS from time to time party thereto and JPMORGAN CHASE BANK, N.A., as Administrative
Agent, Swing Line Lender and L/C Issuer. 
 A. Pursuant to the Credit Agreement, the Lenders have extended credit, and have
agreed to extend additional credit, to the Borrower, in each case pursuant to the terms and subject to the conditions set forth therein. 
 B. Holdings and the Borrower have requested that the Credit Agreement be amended as set forth herein. 
 C. The undersigned Lenders are willing to so amend the Credit Agreement pursuant to the terms and subject to the conditions set forth herein. 
 D. Capitalized terms used but not defined herein have the meanings assigned to them in the Credit Agreement, as amended hereby. 

Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and
receipt of which are hereby acknowledged, and subject to the conditions set forth herein, the parties hereto hereby agree as follows: 
 SECTION 1. Amendment of the Credit Agreement. The Credit Agreement is hereby amended as follows: 
 (a) Section 1.01 of the Credit Agreement is hereby amended by inserting the following terms in the appropriate alphabetical order: 
 “Amendment No. 2” means Amendment No. 2 dated as of December 11, 2009, to this Agreement. 
 “Amendment No. 2 Effective Date” means the “Amendment Effective Date” as defined in Amendment
No. 2. 
 “Extended L/C Sublimit” has the meaning specified in Section 2.03(a).

 “Extended Revolving Credit Tranche” means the Revolving Credit Commitments (and the
associated Revolving Credit Loans) held by Extending Revolving Lenders as of the Amendment No. 2 Effective Date. 

 “Extending Revolving Lender” means any (i) Revolving
Credit Lender that has delivered a Notice of Extension to the Administrative Agent in accordance with Amendment No. 2 and (ii) such Revolving Credit Lender’s permitted successors and assigns. 
 “Extended Revolving Maturity Date” means August 23, 2012. 
 “Non-Extending Revolving Lender” means any Revolving Credit Lender that is not an Extending Revolving
Lender. 
 “Notice of Extension” means a notice in the form of Exhibit A to Amendment
No. 2. 
 “Original Revolving Maturity Date” means November 23, 2011. 
 “Original Revolving Credit Tranche” means the Revolving Credit Commitments (and the associated Revolving
Credit Loans) held by Non-Extending Revolving Lenders as of the Amendment No. 2 Effective Date. 
 “Permitted Unsecured Debt” has the meaning specified in Section 7.03(h). 
 (b)
The definition of the term “Indebtedness” in Section 1.01 of the Credit Agreement is hereby amended by replacing the parenthetical in clause (d) thereof in its entirety with the following: 
 “(other than (i) trade accounts payable in the ordinary course of business that are due within six months of the
incurrence thereof and (ii) earn-out obligations in an aggregate amount not in excess of $50,000,000 at any time outstanding incurred in connection with any acquisition permitted under this Agreement)”. 
 (c) The definition of the term “Interest Payment Date” in Section 1.01 of the Credit Agreement is hereby
amended by inserting the parenthetical “(or each Tranche within the Revolving Credit Facility, as applicable)” after each occurrence of the word “Facility” therein. 
 (d) The definition of the term “Interest Period” in Section 1.01 of the Credit Agreement is hereby amended by
replacing clause (k) thereof in its entirety with the following: 
 “(k) no Interest Period shall extend beyond the
applicable Maturity Date of the Facility and Tranche under which such Loan was made.” 
 (e) The definition
of the term “Letter of Credit Expiration Date” in Section 1.01 of the Credit Agreement is hereby amended by replacing such definition in its entirety with the following: 
 “Letter of Credit Expiration Date” means the date that is five (5) Business Days prior to the Extended
Revolving Maturity Date (or, if such date is not a Business Day, the next preceding Business Day prior to such date). 
  

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 (f) The definition of the term “Maturity Date” in
Section 1.01 of the Credit Agreement is hereby amended by replacing clause (a) thereof in its entirety with the following: 
 “(a) with respect to the Revolving Credit Facility (i) with respect to the Revolving Credit Commitments (and the associated Revolving Credit Loans) comprising the Original Revolving Credit
Tranche, the Original Revolving Maturity Date and (ii) with respect to the Revolving Credit Commitments (and the associated Revolving Credit Loans) comprising the Extended Revolving Credit Tranche, the Extended Revolving Maturity Date
and”. 
 (g) The definition of the term “Tranche” in Section 1.01 of the Credit Agreement is
hereby amended by replacing the second sentence thereof in its entirety with the following: 
 “For purposes
hereof, each of the following comprises a separate Tranche: (a) the unused Revolving Credit Commitments comprising the Original Revolving Credit Tranche, (b) the unused Revolving Credit Commitments comprising the Extended Revolving Credit
Tranche, (c) the outstanding Revolving Credit Loans and L/C Obligations in respect of Letters of Credit, in each case, comprising the Original Revolving Credit Tranche, (d) the outstanding Revolving Credit Loans and L/C Obligations in
respect of Letters of Credit, in each case, comprising the Extended Revolving Credit Tranche and (e) the outstanding Term Loans.” 
 (h) Section 2.01(b) of the Credit Agreement is hereby amended by replacing such section in its entirety with the following: 
 “The Revolving Credit Borrowings. Subject to the terms and conditions set forth herein, each Revolving Credit
Lender severally agrees to make loans denominated in U.S. dollars to the Borrower as elected by the Borrower pursuant to Section 2.02 (each such loan, a “Revolving Credit Loan”) from time to time, on any Business Day, pro rata
from each Tranche of Revolving Credit Commitments in which such Revolving Credit Lender holds Revolving Credit Commitments until the applicable Maturity Date for each such Tranche, in an aggregate principal amount not to exceed at any time
outstanding the amount of such Lender’s Revolving Credit Commitment; provided that after giving effect to any Revolving Credit Borrowing, (i) the aggregate outstanding principal amount at such time of the Revolving Credit Loans of
any Lender, plus such Lender’s Pro Rata Share of the outstanding principal amount at such time of all L/C Obligations, plus such Lender’s Pro Rata Share of the outstanding principal amount at such time of all Swing Line Loans shall not
exceed such Lender’s Revolving Credit Commitment, and (ii) the aggregate principal amount of Revolving Credit Loans made on the Closing Date shall not exceed $25,000,000 and shall be used by the Borrower and its Subsidiaries solely for
working capital purposes. Within the limits of each

  

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Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and
reborrow under this Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.” 
 (i) Section 2.03(a)(i) of the Credit Agreement is hereby amended by replacing clause (y) of the proviso to the first sentence thereof in its entirety with the following: 
 “(y) the outstanding principal amount of the L/C Obligations at such time would exceed (i) prior to the Original Revolving
Maturity Date $50,000,000 and (ii) on or after the Original Revolving Maturity Date $50,000,000 reduced by the same proportion that the aggregate amount of Revolving Credit Commitments held by Non-Extending Revolving Lenders bore to the
aggregate amount of the Revolving Credit Commitments immediately before the Original Revolving Maturity Date (the “Extended L/C Sublimit”).” 
 (j) Section 2.03(a)(i) of the Credit Agreement is hereby further amended by inserting the following sentence at the end
thereof: 
 “If at any time on or after the Original Maturity Date, the outstanding principal amount of the L/C Obligations
at such time would exceed the Extended L/C Sublimit, the Borrower shall provide cash collateral to the L/C Issuer in an amount equal to the excess of the outstanding principal amount of the L/C Obligations at such time over the Extended L/C Sublimit
in a manner reasonably satisfactory to the L/C Issuer.” 
 (k) Section 2.03(b)(ii) of the Credit
Agreement is hereby amended by inserting the following sentence to the end thereof: 
 “On the Original Revolving Maturity
Date, the risk participations in each Letter of Credit outstanding on the Original Revolving Maturity Date shall be automatically reallocated among the Extending Revolving Lenders in accordance with each Extending Revolving Lender’s Pro Rata
Share.” 
 (l) Section 2.03(h) of the Credit Agreement is hereby amended by replacing the third
sentence thereof with the following: 
 “Such letter of credit fees shall be due and payable in U.S. dollars on the
third Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit and (i) with respect to Non-Extending Revolving Credit Lenders, on the
Original Maturity Date and (ii) with respect to the Extending Revolving Credit Lenders, on the Letter of Credit Expiration Date and thereafter on demand.” 
 (m) Section 2.04(a) of the Credit Agreement is hereby amended by replacing the words “Maturity Date with respect to
the Revolving Credit Facility” therein with “Extended Revolving Maturity Date”. 
  

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 (n) Section 2.07(b) of the Credit Agreement is hereby amended by
replacing such section in its entirety with the following: 
 “(b) Revolving Credit Loans. The
Borrower shall repay to the Administrative Agent, (a) on the Original Revolving Maturity Date, for the ratable account of the Non-Extending Revolving Lenders, the aggregate principal amount of all Revolving Credit Loans outstanding owing to the
Non-Extending Revolving Lenders and (b) on the Extended Revolving Maturity Date, for the ratable account of the Extending Revolving Lenders, the aggregate principal amount of all Revolving Credit Loans outstanding owing to the Extending
Revolving Lenders.” 
 (o) Section 2.07(c) of the Credit Agreement is hereby amended by replacing such
section in its entirety with the following: 
 “(c) Swing Line Loans. The Borrower shall repay its
Swing Line Loans on the earlier to occur of (i) the date that is five (5) Business Days after such Loan is made and (ii) the Extended Revolving Maturity Date.” 
 (p) Section 2.09(a) of the Credit Agreement is hereby amended by replacing such section in its entirety with the
following: 
 “(a) Commitment Fee. The Borrower shall pay to the Administrative Agent for the account
of each Revolving Credit Lender intended to receive payment on the dates described below, in accordance with its Pro Rata Share, a commitment fee equal to the Applicable Rate with respect to commitment fees times the average daily amount by which
the aggregate Revolving Credit Commitment exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans and (B) the Outstanding Amount of L/C Obligations; provided that any commitment fee accrued with respect to any of the
Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that
such commitment fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a
Defaulting Lender. The commitment fee shall accrue, in respect of each Revolving Credit Lender’s Revolving Credit Commitment, at all times from the date hereof until the applicable Maturity Date for such Tranche of Revolving Credit Commitment,
including at any time during which one or more of the conditions in Article 4 is not met, and shall be due and payable quarterly in arrears on the third Business Day after the end of each March, June, September and December, commencing with the
first such date to occur after the Closing Date, and on the applicable Maturity Date for such Tranche of Revolving Credit Commitment. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate
during any quarter, the average daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.” 
  

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 (q) Section 2.13 of the Credit Agreement is hereby amended by inserting
the following at the end of the first sentence thereof: 
 “; provided further that the provisions of
this paragraph shall not be construed to apply to payments made in respect of (i) the commitment fees or the letter of credit fees payable to any Non-Extending Revolving Lender and (ii) the principal amount of Revolving Credit Loans
payable to any Non-Extending Lender, in each case, on the Original Revolving Maturity Date.” 
 (r)
Section 7.02(n) of the Credit Agreement is hereby amended by replacing “$50,000,000” with “$75,000,000”. 
 (s) Section 7.03 of the Credit Agreement is hereby amended by replacing clause (h) thereof in its entirety with the following: 
 “(h) Indebtedness incurred to finance a Permitted Acquisition and any Permitted Refinancing thereof; provided
that (i) both immediately prior to and after giving effect to the incurrence of such Indebtedness and all Indebtedness resulting from any Permitted Refinancing thereof, (A) no Default shall exist or result therefrom and (B) the
Borrower and the Restricted Subsidiaries will be in Pro Forma Compliance with the covenants set forth in Section 7.11, (ii) such Indebtedness and all Indebtedness resulting from any Permitted Refinancing thereof is subordinated to the
Obligations on terms no less favorable to the Lenders than the subordination terms set forth in the Senior Subordinated Notes Indenture as of the Closing Date (other than unsecured Indebtedness, the aggregate principal amount of which, together with
any Permitted Refinancing thereof, does not exceed $100,000,000 at any time outstanding (“Permitted Unsecured Debt”)), (iii) such Indebtedness and all Indebtedness resulting from any Permitted Refinancing thereof matures after,
and does not require any scheduled amortization or other scheduled payments of principal prior to, the date that is ninety-one (91) days after the later of (A) the Maturity Date of the Term Loans and (B) if such Indebtedness is
incurred after the Borrower has obtained Incremental Term Loans or while any commitments to make Incremental Term Loans remain in effect, the maturity date of such Incremental Term Loans (it being understood that such Indebtedness may have mandatory
prepayment, repurchase or redemption provisions satisfying the applicable requirements of subclause (iv) of this clause (h)), (iv) such Indebtedness and all Indebtedness resulting from any Permitted Refinancing thereof has terms and
conditions (other than interest rate, redemption premiums and subordination terms), taken as a whole, that are not materially less favorable to the Borrower than the terms and conditions of the Senior Subordinated Notes as of the Closing Date,
provided that Permitted Unsecured Debt and all Indebtedness resulting from any Permitted Refinancing of such Permitted Unsecured Debt has terms and conditions (other than interest rate and redemption premiums), taken as a whole, that are not
materially less favorable (but with financial covenants, if any, no less favorable) to the Borrower than the terms of this Agreement and (v) such Indebtedness and all Indebtedness resulting from any Permitted Refinancing thereof is incurred by

  

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the Borrower and is not guaranteed by any Subsidiary of the Borrower other than the Subsidiary Guarantors (which guarantees, if such Indebtedness is subordinated, shall be expressly subordinated
to the Obligations on terms not less favorable to the Lenders than the subordination terms of such Indebtedness);”. 
 (t) Section 7.13 of the Credit Agreement is hereby amended by (i) replacing the “and” following clause (a)(iii) with a comma and (ii) inserting “and (v) prepayments,
redemptions, purchases, defeasances and other payments in respect of the Senior Subordinated Notes prior to their scheduled maturity in an aggregate amount not to exceed $50,000,000 if, as of the last day of the immediately preceding Test Period
(after giving Pro Forma Effect to such prepayments, redemptions, purchases, defeasances and other payments), the Total Leverage Ratio is 3.50:1.00 or less.” at the end thereof. 
 SECTION 2. Extension of Revolving Credit Commitments; Offer to Purchase Assignments. 
 (a) Any Revolving Credit Lender may submit to the Administrative Agent an irrevocable notice of extension in the form of
Exhibit A hereto (a “Notice of Extension”) at any time prior to the Amendment Effective Date, and each such Revolving Credit Lender shall, on and after the Amendment Effective Date, be deemed to be an Extending Revolving Lender for
purposes of the Credit Agreement and the other Loan Documents. 
 (b) Each Revolving Credit Lender that submits
to the Administrative Agent (i) an executed Notice of Extension prior to 12:00 p.m., New York City time, on December 22, 2009, and (ii) a signed counterpart to the Assignment and Assumption Agreement in the form of Exhibit B hereto
(the “Assignment and Assumption Agreement”) prior to the Amendment Effective Date, shall assign the amount of such Revolving Credit Lender’s Revolving Credit Commitment (and the associated Revolving Credit Loans) specified in
such Revolving Credit Lender’s Notice of Extension (but in no event more than 50% of such Revolving Credit Lender’s Revolving Credit Commitment (and the associated Revolving Credit Loans)) in accordance with the terms of the Assignment and
Assumption Agreement. 
 SECTION 3. Fees. The Borrower agrees to pay to the Administrative Agent, a fee (the
“Amendment Fee”) for the account of each Lender that delivers an executed signature page to this Amendment prior to 12:00 p.m., New York City time, on December 22, 2009, an amount equal to (a) in the case of a Revolving
Credit Lender, 0.25% of such Revolving Credit Lender’s Revolving Credit Commitment at such time and (b) in the case of a Term Lender, an amount equal to 0.25% of the Outstanding Amount of such Term Lender’s Term Loans at such time.
The Amendment Fee shall be due and payable on the later of (x) December 22, 2009 and (y) the date on which the conditions set forth in clauses (a)(ii) and (a)(iii) of Section 5 hereof have been met, whether or not the Amendment
Effective Date shall have occurred. 
  

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 SECTION 4. Representations and Warranties. Each of Holdings and the Borrower
represents and warrants to the Lenders that, as of the date hereof: 
 (a) This Amendment has been duly authorized, executed and
delivered by each of Holdings and the Borrower and constitutes a legal, valid and binding obligation of each of Holdings and the Borrower, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law and an implied covenant of good faith and fair dealing. 

(b) The representations and warranties of each Loan Party set forth in the Loan Documents are true and correct in all material respects
on and as of the date hereof (unless stated to relate to a specific earlier date, in which case such representation and warranty is true and correct in all material respects as of such earlier date). 
 (c) No Default has occurred and is continuing. 
 SECTION 5. Effectiveness. The amendments to the Credit Agreement set forth in Section 1 to this Amendment shall become effective on the first date (such date, the “Amendment Effective
Date”) on which: 
 (a) the Administrative Agent shall have received: 
 (i) all fees and other amounts due and payable on or prior to the Amendment Effective Date, including, to the extent
invoiced, reimbursement or payment of all reasonable out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel) required to be reimbursed or paid by any Loan Party hereunder or under any Loan Document; 
 (ii) counterparts hereof that, when taken together, bear the signatures of Holdings, the Borrower and the Required Lenders
(for the avoidance of doubt, before giving effect to the assignments contemplated hereby) and the Administrative Agent shall have executed such a counterpart; 
 (iii) Notices of Extension delivered by Revolving Credit Lenders holding Revolving Credit Commitments in an aggregate amount
not less than $75,000,000; 
 (iv) a copy of the Assignment and Assumption Agreement executed by each of the
parties thereto; 
 (b) a Qualifying IPO of Holdings shall have been consummated; and 
 (c) the representations and warranties set forth in Section 4 hereof shall be true and correct, 
  

 8 

 provided that this Amendment shall terminate at 5:00 p.m., New York City time, on
June 30, 2010, if the Amendment Effective Date shall not have occurred at or prior to such time. 
 SECTION 6.
Counterparts; Amendments. This Amendment may not be amended nor may any provision hereof be waived except pursuant to a writing signed by Holdings, the Borrower, the Administrative Agent and the requisite Lenders under Section 10.01 of
the Credit Agreement (after giving effect to this Amendment). Notwithstanding the forgoing, the Borrower and the Administrative Agent shall continue to accept Notices of Extension from Non-Extending Revolving Lenders following the Amendment
Effective Date and, upon delivery of a Notice of Extension, the applicable Non-Extending Revolving Lender shall be deemed to be an Extending Revolving Lender for all purposes of the Credit Agreement and the other Loan Documents, provided that
such Lenders shall neither be entitled to assign their Revolving Credit Commitments pursuant to Section 2 hereof nor to receive the Amendment Fee contemplated by Section 3 hereof. This Amendment may be executed in two or more counterparts,
each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by telecopy or electronic transmission shall be effective
as delivery of a manually executed counterpart of this Agreement. 
 SECTION 7. Credit Agreement. Except as expressly set
forth herein, this Amendment (a) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent, Holdings or the Borrower under the Credit
Agreement or any other Loan Document and (b) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are
ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle Holdings or the Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms,
conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. After the Amendment Effective Date, any reference in the Loan Documents to the Credit Agreement
shall mean the Credit Agreement as modified hereby. 
 SECTION 8. Notices. All notices hereunder shall be given in
accordance with the provisions of Section 10.02 of the Credit Agreement. 
 SECTION 9. Applicable Law; Waiver of Jury
Trial. (A) THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 (B) EACH PARTY HERETO HEREBY AGREES AS SET FORTH IN SECTION 10.17 OF THE CREDIT AGREEMENT AS IF SUCH SECTION WERE SET FORTH IN FULL HEREIN. 
  

 9 

 [Remainder of this page left blank intentionally.] 
  

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

					
	 TEAM HEALTH HOLDINGS, L.L.C., 
 a Delaware limited liability company,

			
		 	by	 	  

		 		 	Name:
		 		 	Title:
	
	 TEAM FINANCE LLC, 
 a Delaware limited liability company,

			
		 	by	 	  

		 		 	Name:
		 		 	Title:

					
	 JPMORGAN CHASE BANK, N.A.,
 individually and as Administrative Agent,

			
		 	by	 	  

		 		 	Name:
		 		 	Title:

 SIGNATURE PAGE TO 
 AMENDMENT NO. 2 TO THE 
 TEAM FINANCE LLC CREDIT AGREEMENT 
  

					
	Name of Lender:
                                        

			
		 	by	 	  

		 		 	Name:
		 		 	Title:
			
		 	by	 	  

		 		 	Name:
		 		 	Title:

 Exhibit A 
 Notice of Extension 
 [Name of Lender] 
 [            ], 20[    ] 
 To: 
 JPMorgan Chase Bank, N.A. 
 1111 Fannin, 10th Floor 
 Houston, Texas 77002

 Attention of Thai Pham 
 fax:
(713) 750-2956 
 Cc: 
 JPMorgan
Chase Bank, N.A. 
 270 Park Avenue 
 New York, New York 10017 
 Attention of Nancy Fairchild 
 fax: (212) 270-6637 
 Ladies and Gentlemen: 
 Reference is made to (i) the Credit Agreement dated as of November 23, 2005 (as amended through the date hereof, the
“Credit Agreement”), among Team Health Holdings, L.L.C., a Delaware limited liability company (“Holdings”), Team Finance LLC, a Delaware limited liability company (the “Borrower”), the Lenders from
time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer and (ii) Amendment No. 2 dated as of December 11, to the Credit Agreement (the “Amendment”).
Capitalized terms used but not defined herein have the respective meanings assigned to them in the Amendment. 
 In accordance
with Section 2 of the Amendment, the undersigned Lender hereby notifies the Administrative Agent of its election to become an Extending Revolving Lender for purposes of the Credit Agreement and the other Loan Documents. This notice shall
constitute a “Notice of Extension” referenced in Section 2 of the Amendment. 
 Pursuant to,
and subject to the requirements of, Section 2(b) of the Amendment the undersigned Lender hereby specifies an assignment of             %1 of its Revolving Credit Commitment (and the associated Revolving
Credit Loans). 
  
  

	1	 The percentage to be assigned may be no more than 50%. 

					
	Name of Lender:
                                        

			
		 	by	 	  

		 		 	Name:
		 		 	Title:
			
		 	by	 	  

		 		 	Name:
		 		 	Title:

 [Signature page to Notice of Extension] 

 Exhibit B 
 ASSIGNMENT AND ASSUMPTION AGREEMENT dated as of [—], 2009 (this
“Agreement”), among TEAM FINANCE LLC, a Delaware limited liability company (the “Borrower”), the ASSIGNORS party hereto, the ASSIGNEES party hereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the
“Administrative Agent”). 
 WHEREAS, pursuant to Amendment No. 2 dated as of December 11, 2009 (the
“Amendment”), to the Credit Agreement dated as of November 23, 2005 (as amended through the date hereof, the “Credit Agreement”), among Team Health Holdings, L.L.C., a Delaware limited liability company
(“Holdings”), the Borrower, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, certain Revolving Credit Lenders are entitled to assign up to 50% of their Revolving
Credit Commitments (and the associated Revolving Credit Loans) and certain financial institutions desire to purchase such assignments. 
 NOW, THEREFORE, the Borrower, the Assignors, the Assignees and the Administrative Agent hereby agree as follows: 
 SECTION 1. Defined Terms. Capitalized terms used but not defined herein shall, unless the context requires otherwise, have the meanings assigned to such terms in the Amendment. As used in this Agreement: 
 “Assignors” shall mean the Revolving Credit Lenders that are entitled to assign a portion of their Revolving Credit
Commitments (and the associated Revolving Credit Loans) pursuant to Section 2(b) of the Amendment, which Revolving Credit Lenders are set forth as “Assignors” on Schedule 1 hereto. 
 “Assignees” shall mean the financial institutions party hereto that are set forth as “Assignees” on Schedule 2
hereto. 
 SECTION 2. Effectiveness. This Agreement shall be effective when (a) the Administrative Agent shall have
received counterparts hereof that, when taken together, bear the signatures of the Borrower, each Assignor and each Assignee and the Administrative Agent shall have executed such a counterpart and (b) a Qualifying IPO of Holdings shall have
been consummated (such date, the “Effective Date”). 
 SECTION 3. Assignments. (a) On the Effective Date,
pursuant to the terms and subject to the conditions set forth herein, each of the Assignors shall be deemed to have sold and assigned to the Assignees, and each of the Assignees shall be deemed to have purchased and assumed from the Assignors, such
interests, rights and obligations with respect to the Revolving Credit Commitments (and associated outstanding Revolving Credit Loans and funded participations in Swing Line Loans and in unreimbursed drawings under Letters of Credit, at the
principal amount thereof plus all unpaid interest and unpaid fees accrued to but excluding the Effective Date) (all such interests, rights and obligations to be referred to herein as the “Assigned Interests”) as shall be necessary
in order that, after giving effect to all such sales and assignments and

 
purchases and assumptions, (i) each Assignee and Assignor will hold the amount of Revolving Credit Commitments (and associated outstanding Revolving Credit Loans and funded participations in
Swing Line Loans and in unreimbursed drawings under Letters of Credit) set forth for such Assignee or Assignor under the heading “Assignees” on Schedule 1 hereto or “Assignors” on Schedule 2 hereto. Such sales and
assignments and purchases and assumptions shall be made on the terms set forth in Annex 1 to Exhibit E to the Credit Agreement (and the terms set forth in such Exhibit E are incorporated by reference herein and shall apply mutatis mutandis) and
shall be deemed to comply with Section 10.07 of the Credit Agreement, notwithstanding the failure of such sales, assignments, purchases and assumptions to comply with (x) the minimum assignment requirement in Section 10.07(b) of the
Credit Agreement, (y) the requirement to pay the processing and recordation fees referenced in Section 10.07(b) of the Credit Agreement and (z) the requirement to execute and deliver Assignment and Assumptions in respect thereof.
Without limiting the generality of the foregoing, each Assignor and Assignee hereby makes the representations and warranties required to be made under Annex 1 to Exhibit E to the Credit Agreement by an “Assignor” and “Assignee”
(as each is defined therein), respectively, with respect to the Assigned Interests being assigned or assumed by such Lender hereunder. 
 (b) On the Effective Date, subject to the terms and conditions set forth herein, (i) each Assignee purchasing and assuming Assigned Interests pursuant to paragraph (a) above shall pay the purchase price for such Assigned Interests
pursuant to such paragraph (a) by wire transfer of immediately available funds to the Administrative Agent not later than 1:00 p.m., New York City time, (ii) the Administrative Agent shall pay to each Assignor selling and assigning such
Assigned Interests pursuant to paragraph (a) above, out of the amounts received by the Administrative Agent pursuant to clause (i) of this paragraph (b), the purchase price for the Assigned Interests assigned by such Assignor pursuant
to such paragraph (a) by wire transfer of immediately available funds to the account designated by such Assignor to the Administrative Agent not later than 5:00 p.m., New York City time, on the Effective Date and (iii) the Borrower
shall pay any amounts owing to the Assignor pursuant to Section 3.05(a) of the Credit Agreement in connection with such assignments. 
 (c) Each of the parties hereto hereby consents to the sales, assignments, purchases and assumptions provided for in paragraphs (a) and (b) above, and agrees that each Assignee shall be a party
to the Credit Agreement as amended by the Amendment (the “Amended Credit Agreement”) and, to the extent of the interests purchased by such Assignee pursuant to such paragraphs or held by such Assignee prior to the Effective Date and
not sold or assigned hereunder, shall have the rights and obligations of a Lender under the Amended Credit Agreement. 
 SECTION
4. Counterparts; Amendments. This Agreement may not be amended nor may any provision hereof be waived except pursuant to a writing signed by the Borrower, the Administrative Agent and each other party hereto. This Agreement may be executed by
one or more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Agreement by
electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 
  

 2 

 SECTION 5. No Novation. Neither this Agreement nor the sales, assignments, purchases
and assumptions contemplated hereby shall extinguish the outstanding Loans or any other obligations for the payment of money outstanding under the Credit Agreement or release the Liens granted under or the priority of the Security Agreement or any
security therefor. Nothing herein contained shall be construed as a substitution or novation of the outstanding Loans or any other obligations outstanding under the Credit Agreement or instruments securing the same, which shall remain in full force
and effect. 
 SECTION 6. Headings. The Section headings used herein are for convenience of reference only, are not part
of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
 SECTION 7. Notices. All notices hereunder shall be given in accordance with the provisions of Section 10.02 of the Credit Agreement. 
 SECTION 8. Applicable Law; Waiver of Jury Trial. (A) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 (B) EACH PARTY HERETO HEREBY AGREES AS SET FORTH IN SECTION 10.17 OF
THE CREDIT AGREEMENT AS IF SUCH SECTION WERE SET FORTH IN FULL HEREIN. 
 [Remainder of this page left blank intentionally.]

  

 3 

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

					
	 TEAM HEALTH HOLDINGS, L.L.C., 
 a Delaware limited liability company,

			
		 	by	 	  

		 		 	Name:
		 		 	Title:
	
	 TEAM FINANCE LLC, 
 a Delaware limited liability company,

			
		 	by	 	  

		 		 	Name:
		 		 	Title:

  

					
	JPMORGAN CHASE BANK, N.A.,
			
		 	By	 	  

		 		 	Name:
		 		 	Title:

  

			
		  	 SIGNATURE PAGE TO ASSIGNMENT AND ASSUMPTION
 AGREEMENT DATED AS OF [—], AMONG TEAM HEALTH
 HOLDINGS, L.L.C., TEAM FINANCE LLC, THE ASSIGNORS
 PARTY HERETO, THE ASSIGNEES PARTY HERETO
AND
 JPMORGAN CHASE BANK, N.A.

  

					
	Institution:                                     
    ,
	as Assignor,
			
		 	by	 	  

		 		 	Name:
		 		 	Title:

			
		  	SIGNATURE PAGE TO ASSIGNMENT AND ASSUMPTION
		  	AGREEMENT DATED AS OF [—], AMONG TEAM HEALTH
		  	HOLDINGS, L.L.C., TEAM FINANCE LLC, THE ASSIGNORS
		  	PARTY HERETO, THE ASSIGNEES PARTY HERETO AND
		  	JPMORGAN CHASE BANK, N.A.

  

					
	Institution:
                                        ,

	as Assignee,
			
		 	by	 	  

		 		 	Name:
		 		 	Title:

 Schedule 1 
 Assignees 

 Schedule 2 
 AssignorsForm of Common Stock Warrant Agreement and Warrant Certificate

 EXHIBIT 4.4 
 SUNESIS PHARMACEUTICALS, INC. 
 and 

            , AS WARRANT AGENT 
 FORM OF COMMON STOCK 
 WARRANT AGREEMENT 
 DATED AS OF
             

 SUNESIS PHARMACEUTICALS, INC. 
 FORM OF COMMON STOCK WARRANT AGREEMENT 
 COMMON
STOCK WARRANT AGREEMENT (this “Agreement”), dated as of                      between Sunesis Pharmaceuticals, Inc. , a Delaware
corporation (the “Company”) and                     , a [corporation] [national banking association] organized and existing under
the laws of                      and having a corporate trust office
in                    , as warrant agent (the “Warrant Agent”). 
 WHEREAS, the Company proposes to sell [if Warrants are sold with other securities—[title of such other securities
being offered] (the “Other Securities”) with] warrant certificates evidencing one or more warrants (the “Warrants” or, individually, a “Warrant”) representing the right to purchase Common Stock of
the Company, par value $0.0001 per share (the “Warrant Securities”), such warrant certificates and other warrant certificates issued pursuant to this Agreement being herein called the “Warrant Certificates”; and

 WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to
act, in connection with the issuance, registration, transfer, exchange, exercise and replacement of the Warrant Certificates, and in this Agreement wishes to set forth, among other things, the form and provisions of the Warrant Certificates and the
terms and conditions on which they may be issued, registered, transferred, exchanged, exercised and replaced. 
 NOW
THEREFORE, in consideration of the premises and of the mutual agreements herein contained, the parties hereto agree as follows: 
 ARTICLE 1 
 ISSUANCE OF WARRANTS AND EXECUTION AND DELIVERY OF WARRANT CERTIFICATES 
 1.1 Issuance Of Warrants. [If Warrants alone—Upon issuance, each Warrant Certificate shall evidence one
or more Warrants.] [If Other Securities and Warrants—Warrant Certificates shall be [initially] issued in connection with the issuance of the Other Securities [but shall be separately transferable on and after
                     (the “Detachable Date”)] [and shall not be separately transferable] and each Warrant Certificate shall evidence
one or more Warrants.] Each Warrant evidenced thereby shall represent the right, subject to the provisions contained herein and therein, to purchase one Warrant Security. [If Other Securities and Warrants—Warrant Certificates
shall be initially issued in units with the Other Securities and each Warrant Certificate included in such a unit shall evidence                     
Warrants for each [$                     principal amount]
[                     shares] of Other Securities included in such unit.]
 1.2 Execution And Delivery Of Warrant Certificates. Each Warrant Certificate, whenever issued, shall be in registered form
substantially in the form set forth in Exhibit A hereto, shall be dated the date of its countersignature by the Warrant Agent and may have such letters, numbers, or other marks of identification or designation and such legends or
endorsements printed, lithographed or engraved thereon as the officers of the Company executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Agreement, or
as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange on which the Warrants may be listed, or to conform to usage. The Warrant Certificates shall
be signed on behalf of the Company by any of its present or future chief executive officers, presidents, senior vice presidents, vice presidents, chief financial officers, chief legal officers, treasurers, assistant treasurers, controllers,
assistant controllers, secretaries or assistant secretaries under its corporate seal reproduced thereon. Such signatures may be manual or facsimile signatures of such authorized officers and may be imprinted or otherwise reproduced on the
Warrant Certificates. The seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the Warrant Certificates. 
 No Warrant Certificate shall be valid for any purpose, and no Warrant evidenced thereby shall be exercisable, until such Warrant Certificate
has been countersigned by the manual signature of the Warrant Agent. Such signature by the Warrant Agent upon any Warrant Certificate executed by the Company shall be conclusive evidence that the Warrant Certificate so countersigned has been
duly issued hereunder. 
 In case any officer of the Company who shall have signed any of the Warrant Certificates either
manually or by facsimile signature shall cease to be such officer before the Warrant Certificates so signed shall have been countersigned and delivered by the Warrant Agent, such Warrant Certificates may be countersigned and delivered
notwithstanding that the person who signed Warrant Certificates ceased to be such officer of the Company; and any Warrant Certificate may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Warrant
Certificate, shall be the proper officers of the Company, although at the date of the execution of this Agreement any such person was not such officer. 
 The term “holder” or “holder of a Warrant Certificate” as used herein shall mean any person in whose name at the time any Warrant Certificate shall be registered upon the books to be
maintained by the Warrant Agent for that purpose [If Other Securities

 
and Warrants are not immediately detachable—or upon the registration of the Other Securities prior to the Detachable Date. Prior to the Detachable Date, the Company will,
or will cause the registrar of the Other Securities to, make available at all times to the Warrant Agent such information as to holders of the Other Securities as may be necessary to keep the Warrant Agent’s records up to date]. 
 1.3 Issuance Of Warrant Certificates. Warrant Certificates evidencing the right to purchase Warrant Securities may be
executed by the Company and delivered to the Warrant Agent upon the execution of this Warrant Agreement or from time to time thereafter. The Warrant Agent shall, upon receipt of Warrant Certificates duly executed on behalf of the Company,
countersign such Warrant Certificates and shall deliver such Warrant Certificates to or upon the order of the Company.
 ARTICLE 2 
 WARRANT PRICE, DURATION AND EXERCISE OF WARRANTS 
 2.1 Warrant Price. During the period specified in Section 2.2, each Warrant shall, subject to the terms of this
Warrant Agreement and the applicable Warrant Certificate, entitle the holder thereof to purchase the number of Warrant Securities specified in the applicable Warrant Certificate at an exercise price of
$                     per Warrant Security, subject to adjustment upon the occurrence of certain events, as hereinafter provided. Such purchase
price per Warrant Security is referred to in this Agreement as the “Warrant Price.” 
 2.2 Duration Of
Warrants. Each Warrant may be exercised in whole or in part at any time, as specified herein, on or after [the date thereof]
[                    ] and at or before
[                    ] p.m.,
[                    ] time, on
[                    ] or such later date as the Company may designate by notice to the Warrant Agent and the holders of Warrant Certificates mailed
to their addresses as set forth in the record books of the Warrant Agent (the “Expiration Date”). Each Warrant not exercised at or before
[                    ] p.m.,
[                    ] time, on the Expiration Date shall become void, and all rights of the holder of the Warrant Certificate evidencing such
Warrant under this Agreement shall cease. 
 2.3 Exercise Of Warrants. 
 (a) During the period specified in Section 2.2, the Warrants may be exercised to purchase a whole number of Warrant
Securities in registered form by providing certain information as set forth on the reverse side of the Warrant Certificate and by paying in full, in lawful money of the United States of America, [in cash or by certified check or official bank check
in New York Clearing House funds] [by bank wire transfer in immediately available funds] the Warrant Price for each Warrant Security with respect to which a Warrant is being exercised to the Warrant Agent at its corporate trust office, provided that
such exercise is subject to receipt within five business days of such payment by the Warrant Agent of the Warrant Certificate with the form of election to purchase Warrant Securities set forth on the reverse side of the Warrant Certificate properly
completed and duly executed. The date on which payment in full of the Warrant Price is received by the Warrant Agent shall, subject to receipt of the Warrant Certificate as aforesaid, be deemed to be the date on which the Warrant is exercised;
provided, however, that if, at the date of receipt of such Warrant Certificates and payment in full of the Warrant Price, the transfer books for the Warrant Securities purchasable upon the exercise of such Warrants shall be closed, no such receipt
of such Warrant Certificates and no such payment of such Warrant Price shall be effective to constitute the person so designated to be named as the holder of record of such Warrant Securities on such date, but shall be effective to constitute such
person as the holder of record of such Warrant Securities for all purposes at the opening of business on the next succeeding day on which the transfer books for the Warrant Securities purchasable upon the exercise of such Warrants shall be opened,
and the certificates for the Warrant Securities in respect of which such Warrants are then exercised shall be issuable as of the date on such next succeeding day on which the transfer books shall next be opened, and until such date the Company shall
be under no duty to deliver any certificate for such Warrant Securities. The Warrant Agent shall deposit all funds received by it in payment of the Warrant Price in an account of the Company maintained with it and shall advise the Company by
telephone at the end of each day on which a payment for the exercise of Warrants is received of the amount so deposited to its account. The Warrant Agent shall promptly confirm such telephone advice to the Company in writing.
 (b) The Warrant Agent shall, from time to time, as promptly as practicable, advise the Company of (i) the number of Warrant
Securities with respect to which Warrants were exercised, (ii) the instructions of each holder of the Warrant Certificates evidencing such Warrants with respect to delivery of the Warrant Securities to which such holder is entitled upon such
exercise, (iii) delivery of Warrant Certificates evidencing the balance, if any, of the Warrants for the remaining Warrant Securities after such exercise, and (iv) such other information as the Company shall reasonably require. 

(c) As soon as practicable after the exercise of any Warrant, the Company shall issue to or upon the order of the holder of
the Warrant Certificate evidencing such Warrant the Warrant Securities to which such holder is entitled, in fully registered form, registered in such name or names as may be directed by such holder. If fewer than all of the Warrants evidenced
by such Warrant Certificate are exercised, the Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign and deliver, a new Warrant Certificate evidencing Warrants for the number of Warrant Securities remaining
unexercised. 
 (d) The Company shall not be required to pay any stamp or other tax or other governmental charge
required to be paid in connection with any transfer involved in the issue of the Warrant Securities, and in the event that any such transfer is involved, the Company shall not be required to issue or deliver any Warrant Security until such tax or
other charge shall have been paid or it has been established to the Company’s satisfaction that no such tax or other charge is due. 

 (e) Prior to the issuance of any Warrants there shall have been reserved, and
the Company shall at all times through the Expiration Date keep reserved, out of its authorized but unissued Warrant Securities, a number of shares sufficient to provide for the exercise of the Warrants. 
 ARTICLE 3 
 OTHER PROVISIONS RELATING TO RIGHTS OF HOLDERS OF WARRANT CERTIFICATES 
 3.1 No Rights As Warrant
Securityholder Conferred By Warrants Or Warrant Certificates. No Warrant Certificate or Warrant evidenced thereby shall entitle the holder thereof to any of the rights of a holder of Warrant Securities, including, without limitation, the
right to receive the payment of dividends or distributions, if any, on the Warrant Securities or to exercise any voting rights, except to the extent expressly set forth in this Agreement or the applicable Warrant Certificate.
 3.2 Lost, Stolen, Mutilated Or Destroyed Warrant Certificates. Upon receipt by the Warrant Agent of evidence reasonably
satisfactory to it and the Company of the ownership of and the loss, theft, destruction or mutilation of any Warrant Certificate and/or indemnity reasonably satisfactory to the Warrant Agent and the Company and, in the case of mutilation, upon
surrender of the mutilated Warrant Certificate to the Warrant Agent for cancellation, then, in the absence of notice to the Company or the Warrant Agent that such Warrant Certificate has been acquired by a bona fide purchaser, the Company shall
execute, and an authorized officer of the Warrant Agent shall manually countersign and deliver, in exchange for or in lieu of the lost, stolen, destroyed or mutilated Warrant Certificate, a new Warrant Certificate of the same tenor and evidencing
Warrants for a like number of Warrant Securities. Upon the issuance of any new Warrant Certificate under this Section 3.2, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses (including the fees and expenses of the Warrant Agent) in connection therewith. Every substitute Warrant Certificate executed and delivered pursuant to this Section 3.2 in lieu of any
lost, stolen or destroyed Warrant Certificate shall represent an additional contractual obligation of the Company, whether or not the lost, stolen or destroyed Warrant Certificate shall be at any time enforceable by anyone, and shall be entitled to
the benefits of this Agreement equally and proportionately with any and all other Warrant Certificates duly executed and delivered hereunder. The provisions of this Section 3.2 are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement of mutilated, lost, stolen or destroyed Warrant Certificates. 
 3.3 Holder Of Warrant Certificate May Enforce Rights. Notwithstanding any of the provisions of this Agreement, any holder of a Warrant Certificate, without the consent of the Warrant Agent, the holder of any Warrant
Securities or the holder of any other Warrant Certificate, may, in such holder’s own behalf and for such holder’s own benefit, enforce, and may institute and maintain any suit, action or proceeding against the Company suitable to enforce,
or otherwise in respect of, such holder’s right to exercise the Warrants evidenced by such holder’s Warrant Certificate in the manner provided in such holder’s Warrant Certificate and in this Agreement. 
 3.4 Adjustments. 
 (a) In case the Company shall at any time subdivide its outstanding shares of Common Stock into a greater number of shares, the Warrant Price in effect immediately prior to such subdivision
shall be proportionately reduced and the number of Warrant Securities purchasable under the Warrants shall be proportionately increased. Conversely, in case the outstanding shares of Common Stock of the Company shall be combined into a smaller
number of shares, the Warrant Price in effect immediately prior to such combination shall be proportionately increased and the number of Warrant Securities purchasable under the Warrants shall be proportionately decreased. 
 (b) If at any time or from time to time the holders of Common Stock (or any shares of stock or other securities at the time
receivable upon the exercise of the Warrants) shall have received or become entitled to receive, without payment therefore, 
 (i) Common Stock or any shares of stock or other securities which are at any time directly or indirectly convertible into or exchangeable for Common Stock, or any rights or options to subscribe for, purchase or otherwise acquire
any of the foregoing by way of dividend or other distribution; 
 (ii) any cash paid or payable otherwise than as a
cash dividend paid or payable out of the Company’s current or retained earnings; 
 (iii) any evidence of the
Company’s indebtedness or rights to subscribe for or purchase the Company’s indebtedness; or 
 (iv) Common Stock or additional stock or other securities or property (including cash) by way of spinoff, split-up, reclassification, combination of shares or similar corporate rearrangement (other than shares of Common Stock
issued as a stock split or adjustments in respect of which shall be covered by the terms of Section 3.4(a) above), then and in each such case, the holder of each Warrant shall, upon the exercise of the Warrant, be entitled to receive, in
addition to the number of Warrant Securities receivable thereupon, and without payment of any additional consideration therefore, the amount of stock and other securities and property (including cash and indebtedness or rights to subscribe for or
purchase indebtedness) which such holder would

 
hold on the date of such exercise had he been the holder of record of such Warrant Securities as of the date on which holders of Common Stock received or became entitled to receive such shares or
all other additional stock and other securities and property. 
 (c) In case of (i) any reclassification,
capital reorganization, or change in the Common Stock of the Company (other than as a result of a subdivision, combination, or stock dividend provided for in Section 3.4(a) or Section 3.4(b) above), (ii) share exchange, merger or
similar transaction of the Company with or into another person or entity (other than a share exchange, merger or similar transaction in which the Company is the acquiring or surviving corporation and which does not result in any change in the Common
Stock other than the issuance of additional shares of Common Stock) or (iii) the sale, exchange, lease, transfer or other disposition of all or substantially all of the properties and assets of the Company as an entirety (in any such case, a
“Reorganization Event”), then, as a condition of such Reorganization Event, lawful provisions shall be made, and duly executed documents evidencing the same from the Company or its successor shall be delivered to the holders of the
Warrants, so that the holders of the Warrants shall have the right at any time prior to the expiration of the Warrants to purchase, at a total price equal to that payable upon the exercise of the Warrants, the kind and amount of shares of stock and
other securities and property receivable in connection with such Reorganization Event by a holder of the same number of Warrant Securities as were purchasable by the holders of the Warrants immediately prior to such Reorganization Event. In any
such case appropriate provisions shall be made with respect to the rights and interests of the holders of the Warrants so that the provisions hereof shall thereafter be applicable with respect to any shares of stock or other securities and property
deliverable upon exercise the Warrants, and appropriate adjustments shall be made to the Warrant Price payable hereunder provided the aggregate purchase price shall remain the same. In the case of any transaction described in clauses
(ii) and (iii) above, the Company shall thereupon be relieved of any further obligation hereunder or under the Warrants, and the Company as the predecessor corporation may thereupon or at any time thereafter be dissolved, wound up or
liquidated. Such successor or assuming entity thereupon may cause to be signed, and may issue either in its own name or in the name of the Company, any or all of the Warrants issuable hereunder which heretofore shall not have been signed by the
Company, and may execute and deliver securities in its own name, in fulfillment of its obligations to deliver Warrant Securities upon exercise of the Warrants. All the Warrants so issued shall in all respects have the same legal rank and
benefit under this Agreement as the Warrants theretofore or thereafter issued in accordance with the terms of this Agreement as though all of such Warrants had been issued at the date of the execution hereof. In any case of any such
Reorganization Event, such changes in phraseology and form (but not in substance) may be made in the Warrants thereafter to be issued as may be appropriate. The Warrant Agent may receive a written opinion of legal counsel as conclusive evidence
that any such Reorganization Event complies with the provisions of this Section 3.4.
 (d) The Company may, at
its option, at any time until the Expiration Date, reduce the then current Warrant Price to any amount deemed appropriate by the Board of Directors of the Company for any period not exceeding twenty consecutive days (as evidenced in a resolution
adopted by such Board of Directors), but only upon giving the notices required by Section 3.5 at least ten days prior to taking such action. 
 (e) Except as herein otherwise expressly provided, no adjustment in the Warrant Price shall be made by reason of the issuance of shares of Common Stock, or securities convertible into or
exchangeable for shares of Common Stock, or securities carrying the right to purchase any of the foregoing or for any other reason whatsoever. 
 (f) No fractional Warrant Securities shall be issued upon the exercise of Warrants. If more than one Warrant shall be exercised at one time by the same holder, the number of full Warrant
Securities which shall be issuable upon such exercise shall be computed on the basis of the aggregate number of Warrant Securities purchased pursuant to the Warrants so exercised. Instead of any fractional Warrant Security which would otherwise
be issuable upon exercise of any Warrant, the Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the last reported sale price (or bid price if there were no sales) per Warrant Security, in
either case as reported on the principal registered national securities exchange on which the Warrant Securities are listed or admitted to trading on the business day that next precedes the day of exercise or, if the Warrant Securities are not then
listed or admitted to trading on any registered national securities exchange, the average of the closing high bid and low asked prices as reported on the OTC Bulletin Board Service (the “OTC Bulletin Board”) operated by the
Financial Industry Regulatory Authority, Inc. (“FINRA”) or, if not available on the OTC Bulletin Board, then the average of the closing high bid and low asked prices as reported on any other U.S. quotation medium or inter-dealer
quotation system on such date, or if on any such date the Warrant Securities are not listed or admitted to trading on a registered national securities exchange, are not included in the OTC Bulletin Board, and are not quoted on any other U.S.
quotation medium or inter-dealer quotation system, an amount equal to the same fraction of the average of the closing bid and asked prices as furnished by any FINRA member firm selected from time to time by the Company for that purpose at the close
of business on the business day that next precedes the day of exercise. 
 (g) Whenever the Warrant Price then in
effect is adjusted as herein provided, the Company shall mail to each holder of the Warrants at such holder’s address as it shall appear on the books of the Company a statement setting forth the adjusted Warrant Price then and thereafter
effective under the provisions hereof, together with the facts, in reasonable detail, upon which such adjustment is based.
 3.5 Notice To Warrantholders. In case the Company shall (a) effect any dividend or distribution described in Section 3.4(b), (b) effect any Reorganization Event, (c) make any distribution on or in
respect of the Common Stock in connection with the dissolution, liquidation or winding up of the Company, or (d) reduce the then current Warrant Price pursuant to Section 3.4(d), then the Company shall mail to each holder of Warrants at
such holder’s address as it shall appear on the books of the Warrant Agent, at least ten days prior to the applicable date hereinafter specified, a notice stating (x) the record date for such dividend or distribution, or, if a record is
not to be taken, the date as of which the holders of record of Common Stock that will be entitled to

 
such dividend or distribution are to be determined, (y) the date on which such Reorganization Event, dissolution, liquidation or winding up is expected to become effective, and the date as
of which it is expected that holders of Common Stock of record shall be entitled to exchange their shares of Common Stock for securities or other property deliverable upon such Reorganization Event, dissolution, liquidation or winding up, or
(z) the first date on which the then current Warrant Price shall be reduced pursuant to Section 3.4(d). No failure to mail such notice nor any defect therein or in the mailing thereof shall affect any such transaction or any
adjustment in the Warrant Price required by Section 3.4. 
 3.6 [If The Warrants Are Subject To Acceleration By The
Company, Insert—Acceleration Of Warrants By The Company. 
 (a) At any time on or after
                    , the Company shall have the right to accelerate any or all Warrants at any time by causing them to expire at the close of
business on the day next preceding a specified date (the “Acceleration Date”), if the Market Price (as hereinafter defined) of the Common Stock equals or exceeds      percent (    %) of the
then effective Warrant Price on any twenty Trading Days (as hereinafter defined) within a period of thirty consecutive Trading Days ending no more than five Trading Days prior to the date on which the Company gives notice to the Warrant Agent of its
election to accelerate the Warrants. 
 (b) “Market Price” for each Trading Day shall be, if the
Common Stock is listed or admitted to trading on any registered national securities exchange, the last reported sale price, regular way (or, if no such price is reported, the average of the reported closing bid and asked prices, regular way) of
Common Stock, in either case as reported on the principal registered national securities exchange on which the Common Stock is listed or admitted to trading or, if not listed or admitted to trading on any registered national securities exchange, the
average of the closing high bid and low asked prices as reported on the OTC Bulletin Board operated by FINRA, or if not available on the OTC Bulletin Board, then the average of the closing high bid and low asked prices as reported on any other U.S.
quotation medium or inter-dealer quotation system, or if on any such date the shares of Common Stock are not listed or admitted to trading on a registered national securities exchange, are not included in the OTC Bulletin Board, and are not quoted
on any other U.S. quotation medium or inter-dealer quotation system, the average of the closing bid and asked prices as furnished by any FINRA member firm selected from time to time by the Company for that purpose. “Trading Day”
shall be each Monday through Friday, other than any day on which securities are not traded in the system or on the exchange that is the principal market for the Common Stock, as determined by the Board of Directors of the Company.
 (c) In the event of an acceleration of less than all of the Warrants, the Warrant Agent shall select the Warrants to be
accelerated by lot, pro rata or in such other manner as it deems, in its discretion, to be fair and appropriate. 
 (d) Notice of an acceleration specifying the Acceleration Date shall be sent by mail first class, postage prepaid, to each registered holder of a Warrant Certificate representing a Warrant accelerated at such holder’s
address appearing on the books of the Warrant Agent not more than sixty days nor less than thirty days before the Acceleration Date. Such notice of an acceleration also shall be given no more than twenty days, and no less than ten days, prior
to the mailing of notice to registered holders of Warrants pursuant to this Section 3.6, by publication at least once in a newspaper of general circulation in the City of New York. 
 (e) Any Warrant accelerated may be exercised until
[                    ] p.m.,
[                    ] time, on the business day next preceding the Acceleration Date. The Warrant Price shall be payable as provided in
Section 2.] 
 ARTICLE 4 
 EXCHANGE AND TRANSFER OF WARRANT CERTIFICATES 
 4.1 Exchange And
Transfer Of Warrant Certificates. [If Other Securities with Warrants which are immediately detachable—Upon] [If Other Securities with Warrants which are not immediately detachable—Prior to the
Detachable Date, a Warrant Certificate may be exchanged or transferred only together with the Other Security to which the Warrant Certificate was initially attached, and only for the purpose of effecting or in conjunction with an exchange or
transfer of such Other Security. Prior to any Detachable Date, each transfer of the Other Security shall operate also to transfer the related Warrant Certificates. After the Detachable Date, upon] surrender at the corporate trust office of
the Warrant Agent, Warrant Certificates evidencing Warrants may be exchanged for Warrant Certificates in other denominations evidencing such Warrants or the transfer thereof may be registered in whole or in part; provided that such other Warrant
Certificates evidence Warrants for the same aggregate number of Warrant Securities as the Warrant Certificates so surrendered. The Warrant Agent shall keep, at its corporate trust office, books in which, subject to such reasonable regulations
as it may prescribe, it shall register Warrant Certificates and exchanges and transfers of outstanding Warrant Certificates, upon surrender of the Warrant Certificates to the Warrant Agent at its corporate trust office for exchange or registration
of transfer, properly endorsed or accompanied by appropriate instruments of registration of transfer and written instructions for transfer, all in form satisfactory to the Company and the Warrant Agent. No service charge shall be made for any
exchange or registration of transfer of Warrant Certificates, but the Company may require payment of a sum sufficient to cover any stamp or other tax or other governmental charge that may be imposed in connection with any such exchange or
registration of transfer. Whenever any Warrant Certificates are so surrendered for exchange or registration of transfer, an authorized officer of the Warrant Agent shall manually countersign and deliver to the person or persons entitled thereto
a Warrant Certificate or Warrant Certificates duly authorized and executed by the Company, as so requested. The Warrant Agent shall not be required to effect any exchange or registration of transfer which will result in the issuance of a
Warrant Certificate evidencing a Warrant for a fraction of a

 
Warrant Security or a number of Warrants for a whole number of Warrant Securities and a fraction of a Warrant Security. All Warrant Certificates issued upon any exchange or registration of
transfer of Warrant Certificates shall be the valid obligations of the Company, evidencing the same obligations and entitled to the same benefits under this Agreement as the Warrant Certificate surrendered for such exchange or registration of
transfer.
 4.2 Treatment Of Holders Of Warrant Certificates. [If Other Securities and Warrants are not
immediately detachable—Prior to the Detachable Date, the Company, the Warrant Agent and all other persons may treat the owner of the Other Security as the owner of the Warrant Certificates initially attached thereto for any purpose and
as the person entitled to exercise the rights represented by the Warrants evidenced by such Warrant Certificates, any notice to the contrary notwithstanding. After the Detachable Date and prior to due presentment of a Warrant Certificate for
registration of transfer, the] [The] Company, the Warrant Agent and all other persons may treat the registered holder of a Warrant Certificate as the absolute owner thereof for any purpose and as the person entitled to exercise the rights
represented by the Warrants evidenced thereby, any notice to the contrary notwithstanding. 
 4.3 Cancellation Of
Warrant Certificates. Any Warrant Certificate surrendered for exchange, registration of transfer or exercise of the Warrants evidenced thereby shall, if surrendered to the Company, be delivered to the Warrant Agent and all Warrant
Certificates surrendered or so delivered to the Warrant Agent shall be promptly canceled by the Warrant Agent and shall not be reissued and, except as expressly permitted by this Agreement, no Warrant Certificate shall be issued hereunder in
exchange therefor or in lieu thereof. 
 The Warrant Agent shall deliver to the Company from time to time or otherwise dispose
of canceled Warrant Certificates in a manner satisfactory to the Company. 
 ARTICLE 5 
 CONCERNING THE WARRANT AGENT 
 5.1 Warrant Agent. The Company hereby appoints                      as Warrant Agent of
the Company in respect of the Warrants and the Warrant Certificates upon the terms and subject to the conditions herein set forth, and
                     hereby accepts such appointment. The Warrant Agent shall have the powers and authority granted to and conferred upon it in
the Warrant Certificates and hereby and such further powers and authority to act on behalf of the Company as the Company may hereafter grant to or confer upon it. All of the terms and provisions with respect to such powers and authority
contained in the Warrant Certificates are subject to and governed by the terms and provisions hereof. 
 5.2 Conditions
Of Warrant Agent’s Obligations. The Warrant Agent accepts its obligations herein set forth upon the terms and conditions hereof, including the following to all of which the Company agrees and to all of which the rights hereunder of the
holders from time to time of the Warrant Certificates shall be subject: 
 (a) Compensation And
Indemnification. The Company agrees promptly to pay the Warrant Agent the compensation to be agreed upon with the Company for all services rendered by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket
expenses (including reasonable counsel fees) incurred without negligence, bad faith or willful misconduct by the Warrant Agent in connection with the services rendered hereunder by the Warrant Agent. The Company also agrees to indemnify the
Warrant Agent for, and to hold it harmless against, any loss, liability or expense incurred without negligence, bad faith or willful misconduct on the part of the Warrant Agent, arising out of or in connection with its acting as Warrant Agent
hereunder, including the reasonable costs and expenses of defending against any claim of such liability.
 (b) Agent For
The Company. In acting under this Warrant Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does not assume any obligations or relationship of agency or trust for or
with any of the holders of Warrant Certificates or beneficial owners of Warrants. 
 (c) Counsel. The Warrant
Agent may consult with counsel satisfactory to it, which may include counsel for the Company, and the written advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it
hereunder in good faith and in accordance with the advice of such counsel. 
 (d) Documents. The Warrant Agent
shall be protected and shall incur no liability for or in respect of any action taken or omitted by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably
believed by it to be genuine and to have been presented or signed by the proper parties. 
 (e) Certain
Transactions. The Warrant Agent, and its officers, directors and employees, may become the owner of, or acquire any interest in, Warrants, with the same rights that it or they would have if it were not the Warrant Agent hereunder, and, to
the extent permitted by applicable law, it or they may engage or be interested in any financial or other transaction with the Company and may act on, or as depositary, trustee or agent for, any committee or body of holders of Warrant Securities or
other obligations of the Company as freely as if it were not the Warrant Agent hereunder. Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from acting as trustee under any indenture to which the Company is a party.

 (f) No Liability For Interest. Unless otherwise agreed with the Company, the Warrant Agent shall have no
liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates. 

 (g) No Liability For Invalidity. The Warrant Agent shall have no liability
with respect to any invalidity of this Agreement or any of the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon). 
 (h) No Responsibility For Representations. The Warrant Agent shall not be responsible for any of the recitals or representations herein or in the Warrant Certificates (except as to the
Warrant Agent’s countersignature thereon), all of which are made solely by the Company.
 (i) No Implied
Obligations. The Warrant Agent shall be obligated to perform only such duties as are herein and in the Warrant Certificates specifically set forth and no implied duties or obligations shall be read into this Agreement or the Warrant
Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder which may tend to involve it in any expense or liability, the payment of which within a reasonable time is not, in its
reasonable opinion, assured to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates authenticated by the Warrant Agent and delivered by it to the
Company pursuant to this Agreement or for the application by the Company of the proceeds of the Warrant Certificates. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its
covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a holder of a Warrant Certificate with respect to such default, including, without limiting the generality of the
foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise or, except as provided in Section 6.2 hereof, to make any demand upon the Company. 
 5.3 Resignation, Removal And Appointment Of Successors. 
 (a) The Company agrees, for the benefit of the holders from time to time of the Warrant Certificates, that there shall at all
times be a Warrant Agent hereunder until all the Warrants have been exercised or are no longer exercisable. 
 (b) The Warrant Agent may at any time resign as agent by giving written notice to the Company of such intention on its part, specifying the date on which its desired resignation shall become effective; provided that such date
shall not be less than three months after the date on which such notice is given unless the Company otherwise agrees. The Warrant Agent hereunder may be removed at any time by the filing with it of an instrument in writing signed by or on
behalf of the Company and specifying such removal and the intended date when it shall become effective. Such resignation or removal shall take effect upon the appointment by the Company, as hereinafter provided, of a successor Warrant Agent
(which shall be a bank or trust company authorized under the laws of the jurisdiction of its organization to exercise corporate trust powers) and the acceptance of such appointment by such successor Warrant Agent. The obligation of the Company
under Section 5.2(a) shall continue to the extent set forth therein notwithstanding the resignation or removal of the Warrant Agent. 
 (c) In case at any time the Warrant Agent shall resign, or shall be removed, or shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or shall commence a voluntary
case under the Federal bankruptcy laws, as now or hereafter constituted, or under any other applicable Federal or state bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian,
liquidator, assignee, trustee, sequestrator (or other similar official) of the Warrant Agent or its property or affairs, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as
they become due, or shall take corporate action in furtherance of any such action, or a decree or order for relief by a court having jurisdiction in the premises shall have been entered in respect of the Warrant Agent in an involuntary case under
the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or state bankruptcy, insolvency or similar law, or a decree or order by a court having jurisdiction in the premises shall have been entered for the
appointment of a receiver, custodian, liquidator, assignee, trustee, sequestrator (or similar official) of the Warrant Agent or of its property or affairs, or any public officer shall take charge or control of the Warrant Agent or of its property or
affairs for the purpose of rehabilitation, conservation, winding up or liquidation, a successor Warrant Agent, qualified as aforesaid, shall be appointed by the Company by an instrument in writing, filed with the successor Warrant Agent. Upon
the appointment as aforesaid of a successor Warrant Agent and acceptance by the successor Warrant Agent of such appointment, the Warrant Agent shall cease to be Warrant Agent hereunder.
 (d) Any successor Warrant Agent appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Company
an instrument accepting such appointment hereunder, and thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall become vested with all the authority, rights, powers, trusts, immunities, duties and obligations of
such predecessor with like effect as if originally named as Warrant Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon become obligated to transfer, deliver and pay over, and such
successor Warrant Agent shall be entitled to receive, all monies, securities and other property on deposit with or held by such predecessor, as Warrant Agent hereunder. 
 (e) Any corporation into which the Warrant Agent hereunder may be merged or converted or any corporation with which the Warrant Agent may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Warrant Agent shall be a party, or any corporation to which the Warrant Agent shall sell or otherwise transfer all or substantially all the assets and business of the Warrant Agent, provided that it
shall be qualified as aforesaid, shall be the successor Warrant Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto. 

 ARTICLE 6 
 MISCELLANEOUS 
 6.1 Amendment. This Agreement may be
amended by the parties hereto, without the consent of the holder of any Warrant Certificate, for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained herein, or making any other provisions
with respect to matters or questions arising under this Agreement as the Company and the Warrant Agent may deem necessary or desirable; provided that such action shall not materially adversely affect the interests of the holders of the Warrant
Certificates. 
 6.2 Notices And Demands To The Company And Warrant Agent. If the Warrant Agent shall receive
any notice or demand addressed to the Company by the holder of a Warrant Certificate pursuant to the provisions of the Warrant Certificates, the Warrant Agent shall promptly forward such notice or demand to the Company. 
 6.3 Addresses. Any communication from the Company to the Warrant Agent with respect to this Agreement shall be addressed to
                    , Attention:
                     and any communication from the Warrant Agent to the Company with respect to this Agreement shall be addressed to Sunesis
Pharmaceuticals, Inc., 395 Oyster Point Boulevard, Suite 400, South San Francisco, CA 94080, Attention: Chief Financial Officer (or such other address as shall be specified in writing by the Warrant Agent or by the Company).
 6.4 Governing Law. This Agreement and each Warrant Certificate issued hereunder shall be governed by and construed in
accordance with the laws of the State of New York. 
 6.5 Delivery Of Prospectus. The Company shall furnish to
the Warrant Agent sufficient copies of a prospectus meeting the requirements of the Securities Act of 1933, as amended, relating to the Warrant Securities deliverable upon exercise of the Warrants (the “Prospectus”), and the Warrant
Agent agrees that upon the exercise of any Warrant, the Warrant Agent will deliver to the holder of the Warrant Certificate evidencing such Warrant, prior to or concurrently with the delivery of the Warrant Securities issued upon such exercise, a
Prospectus. 
 The Warrant Agent shall not, by reason of any such delivery, assume any responsibility for the accuracy or
adequacy of such Prospectus. 
 6.6 Obtaining Of Governmental Approvals. The Company will from time to time
take all action which may be necessary to obtain and keep effective any and all permits, consents and approvals of governmental agencies and authorities and securities act filings under United States Federal and state laws (including without
limitation a registration statement in respect of the Warrants and Warrant Securities under the Securities Act of 1933, as amended), which may be or become requisite in connection with the issuance, sale, transfer, and delivery of the Warrant
Securities issued upon exercise of the Warrants, the issuance, sale, transfer and delivery of the Warrants or upon the expiration of the period during which the Warrants are exercisable. 
 6.7 Persons Having Rights Under Warrant Agreement. Nothing in this Agreement shall give to any person other than the
Company, the Warrant Agent and the holders of the Warrant Certificates any right, remedy or claim under or by reason of this Agreement. 
 6.8 Headings. The descriptive headings of the several Articles and Sections of this Agreement are inserted for convenience only and shall not control or affect the meaning or construction
of any of the provisions hereof. 
 6.9 Counterparts. This Agreement may be executed in any number of
counterparts, each of which as so executed shall be deemed to be an original, but such counterparts shall together constitute but one and the same instrument. 
 6.10 Inspection Of Agreement. A copy of this Agreement shall be available at all reasonable times at the principal corporate trust office of the Warrant Agent for inspection by the holder
of any Warrant Certificate. The Warrant Agent may require such holder to submit his Warrant Certificate for inspection by it. 

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

					
	 	 	SUNESIS PHARMACEUTICALS, INC.
			
		 	By:	 	  

			
		 	Its:	 	  

			
	Attest:	 		 	
			
	  
	 		 	
			
	  
	 		 	
		
		 	WARRANT AGENT
			
		 	By:	 	  

			
		 	Its:	 	  

			
	Attest:	 		 	
			
	  
	 		 	
			
	  
	 		 	

 [SIGNATURE PAGE TO COMMON STOCK WARRANT AGREEMENT] 

 EXHIBIT A 
 FORM OF WARRANT CERTIFICATE 
 [FACE OF WARRANT CERTIFICATE]

  

			
	[[Form if Warrants are attached to Other Securities and are not immediately detachable.]	  	[Prior to                     , this Warrant Certificate cannot be
transferred or exchanged unless attached to a [Title of Other Securities].]
		
	[Form of Legend if Warrants are not immediately exercisable.]	  	[Prior to                     , Warrants evidenced by this Warrant
Certificate cannot be exercised.]

 EXERCISABLE ONLY IF COUNTERSIGNED BY THE WARRANT AGENT AS PROVIDED HEREIN 

VOID AFTER [                    ]
P.M., [                    ] TIME, ON
                    , 

 SUNESIS PHARMACEUTICALS, INC. 
 WARRANT CERTIFICATE REPRESENTING 
 WARRANTS TO
PURCHASE 
 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 
  

			
	 No.                     
	  	Warrants

 This certifies that or registered assigns is the registered owner of the above
indicated number of Warrants, each Warrant entitling such owner [if Warrants are attached to Other Securities and are not immediately detachable— , subject to the registered owner qualifying as a “Holder” of this Warrant
Certificate, as hereinafter defined),] to purchase, at any time [after [                    ] p.m.,
[                    ] time, [on
                     and] on or before
[                    ] p.m.,
[                    ] time, on
                    ,                      shares
of Common Stock, par value $0.0001 per share (the “Warrant Securities”), of Sunesis Pharmaceuticals, Inc. (the “Company”) on the following basis: during the period from
                    , through and including
                    , the exercise price per Warrant Security will be
$                    , subject to adjustment as provided in the Warrant Agreement (as hereinafter defined) (the “Warrant
Price”). The Holder may exercise the Warrants evidenced hereby by providing certain information set forth on the back hereof and by paying in full, in lawful money of the United States of America, [in cash or by certified check or
official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price for each Warrant Security with respect to which this Warrant is exercised to the Warrant Agent (as hereinafter defined)
and by surrendering this Warrant Certificate, with the purchase form on the back hereof duly executed, at the corporate trust office of [name of Warrant Agent], or its successor as warrant agent (the “Warrant Agent”), which is, on
the date hereof, at the address specified on the reverse hereof, and upon compliance with and subject to the conditions set forth herein and in the Warrant Agreement (as hereinafter defined). 
 The term “Holder” as used herein shall mean [if Warrants are attached to Other Securities and are not immediately
detachable—prior to                     ,
                     (the “Detachable Date”), the registered owner of the Company’s [title of Other Securities] to which this
Warrant Certificate was initially attached, and after such Detachable Date,] the person in whose name at the time this Warrant Certificate shall be registered upon the books to be maintained by the Warrant Agent for that purpose pursuant to
Section 4 of the Warrant Agreement. 
 The Warrants evidenced by this Warrant Certificate may be exercised to purchase a
whole number of Warrant Securities in registered form. Upon any exercise of fewer than all of the Warrants evidenced by this Warrant Certificate, there shall be issued to the Holder hereof a new Warrant Certificate evidencing Warrants for the
number of Warrant Securities remaining unexercised. 
 This Warrant Certificate is issued under and in accordance with the
Warrant Agreement dated as of                     , (the “Warrant Agreement”), between the Company and the Warrant Agent and is
subject to the terms and provisions contained in the Warrant Agreement, to all of which terms and provisions the Holder of this Warrant Certificate consents by acceptance hereof. Copies of the Warrant Agreement are on file at the
above-mentioned office of the Warrant Agent.
 [If Warrants are attached to Other Securities and are not immediately
detachable—Prior to the Detachable Date, this Warrant Certificate may be exchanged or transferred only together with the [Title of Other Securities] (the “Other Securities”) to which this Warrant Certificate was
initially attached, and only for the purpose of effecting or in conjunction with, an exchange or transfer of such Other Security. Additionally, on or prior to the Detachable Date, each transfer of such Other Security on the register of the
Other Securities shall operate also to transfer this Warrant Certificate. After such date, transfer of this] [If Warrants are attached to Other Securities and are immediately detachable—Transfer of this] Warrant Certificate
may be registered when this Warrant Certificate is surrendered at the corporate trust office of the Warrant Agent by the registered owner or such owner’s assigns, in the manner and subject to the limitations provided in the Warrant Agreement.

 [If Other Securities with Warrants which are not immediately detachable—Except as provided in the
immediately preceding paragraph, after] [If Other Securities with Warrants which are immediately detachable or Warrants alone—After] countersignature by the Warrant Agent and prior to the expiration of this Warrant Certificate,
this Warrant Certificate may be exchanged at the corporate trust office of the Warrant Agent for Warrant Certificates representing Warrants for the same aggregate number of Warrant Securities. 
 This Warrant Certificate shall not entitle the Holder hereof to any of the rights of a holder of the Warrant Securities, including, without
limitation, the right to receive payments of dividends or distributions, if any, on the Warrant Securities (except to the extent set forth in the Warrant Agreement) or to exercise any voting rights. 
 Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof, which further provisions
shall for all purposes have the same effect as if set forth at this place. 
 This Warrant Certificate shall not be valid or
obligatory for any purpose until countersigned by the Warrant Agent. 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed in its name
and on its behalf by the facsimile signatures of its duly authorized officers. 
  

							
	Dated:	 	  
	 		 	
			
	 	 	 	 	SUNESIS PHARMACEUTICALS, INC.
				
		 		 	By:	 	  

				
		 		 	Its:	 	  

				
	Attest:	 		 		 	
		
	  
	 	
			
		 		 	Countersigned
			
		 		 	  

		 		 	As Warrant Agent
				
		 		 	By:	 	  

		 		 		 	Authorized Signature

 [REVERSE OF WARRANT CERTIFICATE] 
 (Instructions for Exercise of Warrant) 
 To exercise any Warrants evidenced hereby for Warrant Securities (as hereinafter defined), the Holder must pay, in lawful money of the United States of America, [in cash or by certified check or official
bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price in full for Warrants exercised, to [Warrant Agent] [address of Warrant Agent], Attn:
                    , which payment must specify the name of the Holder and the number of Warrants exercised by such Holder. In addition, the
Holder must complete the information required below and present this Warrant Certificate in person or by mail (certified or registered mail is recommended) to the Warrant Agent at the appropriate address set forth above. This Warrant
Certificate, completed and duly executed, must be received by the Warrant Agent within five business days of the payment. 
 (To
be executed upon exercise of Warrants) 
 The undersigned hereby irrevocably elects to exercise
                     Warrants, evidenced by this Warrant Certificate, to purchase
                     shares of the Common Stock, par value $0.0001 per share (the “Warrant Securities”), of Sunesis Pharmaceuticals,
Inc. and represents that he has tendered payment for such Warrant Securities, in lawful money of the United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in
immediately available funds], to the order of Sunesis Pharmaceuticals, Inc., c/o [insert name and address of Warrant Agent], in the amount of
$                     in accordance with the terms hereof. The undersigned requests that said Warrant Securities be in fully registered form in
the authorized denominations, registered in such names and delivered all as specified in accordance with the instructions set forth below. 
 If the number of Warrants exercised is less than all of the Warrants evidenced hereby, the undersigned requests that a new Warrant Certificate evidencing the Warrants for the number of Warrant Securities
remaining unexercised be issued and delivered to the undersigned unless otherwise specified in the instructions below. 
  

							
	 Dated:
	 	  
	  	Name:	 	  

		 		  		 	Please Print
	Address:	 	  
	  		 	
	  
	  		 	
	  
	  		 	

							
		
	  
	 	
	(Insert Social Security or Other Identifying Number of Holder)	  		 	
			
	Signature Guaranteed:	 	  
	 	
		 	Signature	  		 	

 (Signature must conform in all respects to name of holder as specified on the face of this Warrant
Certificate and must bear a signature guarantee by a FINRA member firm). 
 This Warrant may be exercised at the following addresses:

  

					
	By hand at:	 	  
	 	
		
	  
	 	
		
	  
	 	
			
	By mail at:	 	  
	 	
		
	  
	 	
		
	  
	 	

 [Instructions as to form and delivery of Warrant Securities and, if applicable, Warrant Certificates
evidencing Warrants for the number of Warrant Securities remaining unexercised—complete as appropriate.] 

 ASSIGNMENT 
 [Form of assignment to be executed if Warrant Holder desires to transfer Warrant) 
 FOR VALUE RECEIVED,                      hereby sells, assigns and transfers unto: 
  

			
	  
	  	
		
	  
	  	
		
	  
	  	  

	(Please print name and address including zip code)	  	Please print Social Security or other identifying number
	  
 the right represented by the within Warrant to
purchase                  shares of [Title of Warrant Securities] of Sunesis Pharmaceuticals, Inc. to which the within Warrant relates and appoints
                 attorney to transfer such right on the books of the Warrant Agent with full power of substitution in the premises.
  

					
	Dated:	 	  
	  	  

		 		  	Signature

 (Signature must conform in all respects to name of holder as specified on the face of
the Warrant) 
  

			
	Signature Guaranteed

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