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                                                                     EXHIBIT 4.1

NUMBER                                                                    SHARES

SNTA
                                     SYNTA
                                PHARMACEUTICALS

  INCORPORATED UNDER THE LAWS                                  SEE REVERSE FOR
   OF THE STATE OF DELAWARE                                  CERTAIN DEFINITIONS

THIS CERTIFICATE IS TRANSFERABLE                               CUSIP 87162T 20 6
IN CANTON, MA, JERSEY CITY, NJ
       OR NEW YORK, NY

                          SYNTA PHARMACEUTICALS CORP.

--------------------------------------------------------------------------------
THIS CERTIFIES that

is the owner of

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

             FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK,
                         PAR VALUE $0.0001 PER SHARE, OF

===========================SYNTA PHARMACEUTICALS CORP.==========================

transferable on the books of the Corporation by the holder hereof in person or
by duly authorized attorney upon surrender of this certificate properly
endorsed.

     This certificate is not valid unless countersigned and registered by the
Transfer Agent and Registrar.

     WITNESS the facsimile seal of the Corporation and the facsimile signatures
of its duly authorized officers.

                             CERTIFICATE OF STOCK

Dated

                          SYNTA PHARMACEUTICALS CORP.
                                      2000
                                    Delaware

  /s/ Keith S. Ehrlich           [SEAL]                 /s/ Safi R. Bahcall

       TREASURER                                          PRESIDENT AND CEO

COUNTERSIGNED AND REGISTERED:
           EQUISERVE TRUST COMPANY,N.A.
                                 TRANSFER AGENT
                                  AND REGISTRAR
BY
     /s/ illegible
                           AUTHORIZED SIGNATURE

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The Corporation will furnish without charge to each stockholder who so
requests a statement of the powers, designations, preferences and relative,
participating, optional, or other special rights of each class of stock or
series thereof of the Corporation, and the qualifications, limitations or
restrictions of such preferences and/or rights.

The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM   --   as tenants in common
TEN ENT   --   as tenants by the entireties
JT TEN    --   as joint tenants with right of
               survivorship and not as tenants
               in common

UNIF GIFT MIN ACT -.........................Custodian........................
                           (Cust)                            (Minor)

                   under Uniform Gifts to Minors Act........................
                                                             (State)

    Additional abbreviations may also be used though not in the above list.

FOR VALUE RECEIVED,___________________________________HEREBY SELL, ASSIGN AND
TRANSFER UNTO

PLEASE INSERT SOCIAL SECURITY OR OTHER
   IDENTIFYING NUMBER OF ASSIGNEE
--------------------------------------

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

________________________________________________________________________________
 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

________________________________________________________________________________

________________________________________________________________________________

__________________________________________________________________________SHARES

OF THE CAPITAL STOCK REPRESENTED BY THE WITHIN CERTIFICATE, AND DO HEREBY
IRREVOCABLY CONSTITUTE AND APPOINT

________________________________________________________________________ATTORNEY

TO TRANSFER THE SAID STOCK ON THE BOOKS OF THE WITHIN NAMED CORPORATION WITH
FULL POWER OF SUBSTITUTION IN THE PREMISES.

DATED ______________________________

                               _________________________________________________
                       NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND
                               WITH THE NAME AS WRITTEN UPON THE FACE OF THE
                               CERTIFICATE IN EVERY PARTICULAR, WITHOUT
                               ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

Signature(s) Guaranteed:

THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
(BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH
MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO
S.E.C. RULE 17Ad-15.Exhibit 10.22

 

NEITHER THIS
WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.  NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH RULE 144 UNDER SAID ACT
OR WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF
COUNSEL FOR THE HOLDER, SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS
NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES
AND EXCHANGE COMMISSION.

 

WARRANT TO PURCHASE 1,435 SHARES OF SERIES C-1 PREFERRED STOCK

 

June 21, 2004

 

THIS CERTIFIES THAT, for value
received, General Electric Capital Corporation
(“Holder”) is entitled to subscribe for and purchase One Thousand Four Hundred
Thirty Five (1,435) shares of the fully paid and nonassessable Series C-1
Preferred Stock (the “Shares” or the “Preferred Stock”) of Sunesis
Pharmaceuticals Incorporated, a Delaware corporation (the “Company”), at the
Warrant Price (as hereinafter defined), subject to the provisions and upon the
terms and conditions hereinafter set forth. 
As used herein, the term “Series C-1 Preferred Stock” shall mean
the Company’s presently authorized Series C-1 Preferred Stock and any
stock into which such Series C-1 Preferred Stock may hereafter be
converted or exchanged.

 

1.                                       Warrant Price. 
The Warrant Price shall initially be Four and 80/100 dollars ($4.80) per
share, subject to adjustment as provided in Section 7 below.

 

2.                                       Conditions to Exercise. 
The purchase right represented by this Warrant may be exercised at any
time, or from time to time, in whole or in part during the term commencing on
the date hereof and ending at 5:00 P.M. Pacific time 36 months after the
Company’s initial public offering or on the tenth anniversary of the date of
this Warrant, whichever is earlier.

 

3.                                       Method of Exercise; Payment;
Issuance of Shares; Issuance of New Warrant.

 

(a)                                  Cash Exercise. 
Subject to Section 2 hereof, the purchase right represented by this
Warrant may be exercised by the Holder hereof, in whole or in part, by the
surrender of this Warrant (with a duly executed Notice of Exercise in the form
attached hereto) at the principal office of the Company (as set forth in
Section 18 below) and by payment to the Company, by check, of an amount equal
to the then applicable Warrant Price per share multiplied by the number of
shares then being purchased.  In the
event of any exercise of the rights represented by this Warrant, certificates
for the shares of stock so purchased shall be in the name of, and delivered to,
the Holder hereof, or as such Holder may direct (subject to the terms of
transfer contained herein and upon payment by such Holder hereof of any
applicable transfer taxes).  Such
delivery shall be made within 30 days after exercise of the Warrant and at the
Company’s expense and, unless this Warrant has been fully exercised or expired,
a new Warrant having terms and conditions substantially identical to this
Warrant and representing the portion of the Shares, if any, with respect to which
this Warrant shall not have been exercised, shall also be issued to the Holder
hereof within 30 days after exercise of the Warrant.

 

 

(b)                                 Net Issue Exercise. 
Holder may also elect to receive shares equal to the value of this
Warrant (or of any portion thereof remaining unexercised) by surrender of this
Warrant at the principal office of the Company together with notice of such
election, in which event the Company shall issue to Holder the number of shares
of the Company’s Preferred Stock computed using the following formula:

 

	
  X

  	
  =

  	
  Y (A-B)

  
	
   

  	
   

  	
  A

  
				

 

Where X = the number of shares of Preferred Stock to be issued to
Holder.

 

Y = the number of shares of Preferred Stock purchasable under this
Warrant (at the date of such calculation).

 

A = the Fair Market Value of one share of the Company’s Preferred Stock
(at the date of such calculation).

 

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

 

(c)                                  Fair Market Value. 
For purposes of this Section 3, Fair Market Value of one share of the
Company’s Preferred Stock shall mean:

 

(i)                                     In the event of an exercise in
connection with an Initial Public Offering, the per share Fair Market Value for
the Preferred Stock shall be the Offering Price at which the underwriters
initially sell Common Stock to the public multiplied by the number of shares of
Common Stock into which each share of Preferred Stock is then convertible; or

 

(ii)                                  The average of the closing bid and
asked prices of Common Stock quoted in the Over-The-Counter Market Summary, the
last reported sale price quoted on the Nasdaq National Market (“NNM”) or on any
exchange on which the Common Stock is listed, whichever is applicable, as
published in the Western Edition of the Wall Street Journal
for the ten (10) trading days prior to the date of determination of Fair Market
Value, multiplied by the number of shares of Common Stock into which each share
of Preferred Stock is then convertible; or

 

(iii)                               In the event of an exercise in
connection with a merger, acquisition or other consolidation in which the Company
is not the surviving entity, the per share Fair Market Value for the Preferred
Stock shall be the value to be received per share of Preferred Stock by all
holders of the Preferred Stock in such transaction as determined by the Board
of Directors; or

 

(iv)                              In any other instance, the per share
Fair Market Value for the Preferred Stock shall be as determined in good faith
by the Company’s Board of Directors.

 

In the event
of 3(c)(iii) or 3(c)(iv), above, the Company’s Board
of Directors shall prepare a certificate, to be signed by an authorized officer
of the Company, setting forth in reasonable

 

2

 

detail
the basis for and method of determination of the per share Fair Market Value of
the Preferred Stock.  The Board will also
certify to the Holder that this per share Fair Market Value will be applicable
to all holders of the Company’s Preferred Stock.  Such certification must be made to Holder at
least thirty (30) business days prior to the proposed effective date of the
merger, consolidation, sale, or other triggering event as defined in 3(c)(iii) or 3(c)(iv).

 

(d)                                 Automatic Exercise. 
To the extent this Warrant is not previously exercised, it shall be
automatically exercised in accordance with Sections 3(b) and 3(c) hereof (even
if not surrendered) immediately before its expiration, involuntary termination
or cancellation.

 

4.                                       Representations and Warranties of
Holder and the Company.

 

(a)                                  Representations and Warranties by
Holder.  The Holder represents and warrants to the
Company with respect to this purchase as follows:

 

(i)                                     The Holder has substantial
experience in evaluating and investing in private placement transactions of
securities of companies similar to the Company so that the Holder is capable of
evaluating the merits and risks of its investment in the Company and has the
capacity to protect its interests.

 

(ii)                                  Except for transfers to a Holder
affiliate, the Holder is acquiring the Warrant and the Shares of Preferred
Stock issuable upon exercise of the Warrant (collectively the “Securities”) for
investment for its own account and not with a view to, or for resale in
connection with, any distribution thereof. 
The Holder understands that the Securities have not been registered
under the Securities Act of 1933, as amended (the “Act”) by reason of a
specific exemption from the registration provisions of the Act which depends
upon, among other things, the bona fide nature of the investment intent as
expressed herein.

 

(iii)                               The Holder acknowledges that the
Securities must be held indefinitely unless subsequently registered under the
Act or an exemption from such registration is available.  The Holder is aware of the provisions of Rule
144 promulgated under the Act.

 

(iv)                              The Holder is an “accredited investor”
within the meaning of Regulation D promulgated under the Act.

 

(v)                                 The Holder has had an opportunity to
discuss the Company’s business, management and financial affairs with its
management and an opportunity to review the Company’s facilities.  The Holder understands that such discussions,
as well as the written information issued by the Company, were intended to
describe the aspects of the Company’s business and prospects which the Company
believes to be material but were not necessarily a thorough or exhaustive
description.

 

(b)                                 Company hereby represents and
warrants to Holder that, [except as set forth in the schedule attached to this
Warrant as Exhibit A (the “Disclosure Schedule”)], the statements in the
following paragraphs of this Section 4(b) are true and correct (a) as of
the date

 

3

 

hereof and (b) except where any such
representation and warranty relates specifically to an earlier date, as of the
date of any exercise of this Warrant.

 

(i)                                     Corporate Organization and Authority. 
Company (a) is a corporation duly organized, validly existing, and
in good standing in its jurisdiction of incorporation, (b) has the
corporate power and authority to own and operate its properties and to carry on
its business as now conducted and as proposed to be conducted; and (c) is
qualified as a foreign corporation in all jurisdictions where such
qualification is required.

 

(ii)                                  Corporate Power. 
Company has all requisite legal and corporate power and authority to execute, issue and deliver the Warrant, to issue the Common
Stock issuable upon exercise or conversion of the Warrant, and to carry out and
perform its obligations under the Warrant and any related agreements.

 

(iii)                               Authorization; Enforceability. 
All corporate action on the part of Company, its officers, directors and
shareholders necessary for the authorization, execution, delivery and
performance of its obligations under this Warrant and for the authorization,
issuance and delivery of the Warrant and the Warrant Stock issuable upon
exercise of the Warrant has been taken and this Warrant constitutes the legally
binding and valid obligation of Company enforceable in accordance with its
terms.

 

(iv)                              Valid Issuance of Warrant and Preferred
Stock.  The Warrant has been validly issued and is
free of restrictions on transfer other than restrictions on transfer set forth
herein and under applicable state and federal securities laws.  The Preferred Stock issuable upon conversion
of this Warrant, when issued, sold and delivered in accordance with the terms
of this Warrant for the consideration expressed herein, will be duly and
validly issued, fully paid and nonassessable, and will be free of restrictions
on transfer other than restrictions on transfer under this Warrant and under
applicable state and federal securities laws. 
Subject to applicable restrictions on transfer, the issuance and
delivery of the Warrant and the Preferred Stock issuable upon conversion of the
Warrant are not subject to any preemptive or other similar rights or any liens
or encumbrances except as specifically set forth in Company’s Certificate of
Incorporation or this Warrant.  The
offer, sale and issuance of the Warrant and Preferred Stock, as contemplated by
this Warrant, are exempt from the prospectus and registration requirements of
applicable United States federal and state security laws, and neither Company
nor any authorized agent acting on its behalf has or will take any action
hereafter that would cause the loss of such exemption.

 

(v)                                 No Conflict with Other Instruments. 
The execution, delivery, and performance of this Warrant will not result
in any violation of, be in conflict with, or constitute a default under, with
or without the passage of time or the giving of notice (a) any provision
of Company’s Certificate of Incorporation or by-laws; (b) any provision of
any judgment, decree, or order to which Company is a party or by which it is
bound or an event which results in the creation of any material lien, charge or
encumbrance upon any material assets of Company; (c) any contract,
obligation, or commitment to which Company is a party or by which it is bound;
or (d) any statute, rule, or governmental regulation applicable to
Company.

 

4

 

(vi)                              Capitalization. 
As of recent date, the authorized capital stock of Company consists of
46,000,000 shares of [Common Stock] 0.0001 par value, of which 5,568,051 were
issued and outstanding, [and 33,782,000 shares of Preferred Stock, 0.0001 par value, of which 31,908,271 were issued and
outstanding].  The outstanding shares
have been duly authorized and validly issued (including, without limitation,
issued in compliance with applicable federal and state securities laws), are
fully paid and nonassessable [and have been issued in compliance with the
registration and prospectus delivery requirements of the Securities Act and the
registration and qualification requirements of all applicable state securities
laws, or in compliance with applicable exemptions therefrom].  Company has reserved 40,139,278 shares of
Common Stock for issuance upon conversion of the Preferred Stock.  Except as set forth in Section 4(b) of the
Disclosure Schedule, there are no outstanding warrants, options, conversion
privileges, preemptive rights or other rights or agreements to purchase or
otherwise acquire or issue any equity securities or Convertible Securities of
Company, nor has the issuance of any of the aforesaid rights to acquire
securities of Company been authorized.

 

(vii)                           Governmental Consents. 
No consent, approval, order or authorization of, or registration,
qualification, designation, declaration or filing with, any federal, state or
local governmental authority on the part of Company is required in connection
with the offer, sale or issuance of the Warrant (and the Preferred Stock
issuable upon conversion of the Shares), or the consummation of any other
transaction contemplated hereby, except for the following:  (a) the filing of a notice on Form D
under the Act and (b) the compliance with other applicable state
securities laws, which compliance will have occurred within the appropriate
time periods therefore.  The offer, sale
and issuance of the Warrant and the shares of Preferred Stock in conformity
with the terms of this Warrant are exempt from the registration requirements of
the Act and any applicable state laws.

 

5.                                       Legends.

 

(a)                                  Each certificate representing the
Securities shall be endorsed with the following legend:

 

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933 AND MAY NOT BE TRANSFERRED UNLESS COVERED BY AN EFFECTIVE REGISTRATION
STATEMENT UNDER SAID ACT, A “NO ACTION” LETTER FROM THE SECURITIES AND EXCHANGE
COMMISSION WITH RESPECT TO SUCH TRANSFER, A TRANSFER MEETING THE REQUIREMENTS
OF RULE 144 OF THE SECURITIES AND EXCHANGE COMMISSION, OR (IF REASONABLY
REQUIRED BY THE COMPANY) AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER TO
THE EFFECT THAT ANY SUCH TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

 

The Company
need not enter into its stock records a transfer of Securities unless the
conditions specified in the foregoing legend are satisfied.  The Company may also instruct its transfer
agent

 

5

 

not
to allow the transfer of any of the Shares unless the conditions specified in
the foregoing legend are satisfied.

 

(b)                                 Removal of Legend and Transfer
Restrictions.  The legend relating to the Act endorsed on a
certificate pursuant to paragraph 5(a) of this Warrant shall be removed and the
Company shall issue a certificate without such legend to the Holder of the
Securities if (i) the Securities are registered under the Act and a
prospectus meeting the requirements of Section 10 of the Act is available or
(ii) the Holder provides to the Company an opinion of counsel for the
Holder reasonably satisfactory to the Company, a no-action letter or
interpretive opinion of the staff of the SEC reasonably satisfactory to the
Company, or other evidence reasonably satisfactory to the Company, to the
effect that public sale, transfer or assignment of the Securities may be made
without registration and without compliance with any restriction such as Rule
144.

 

6.                                       Condition of Transfer or Exercise of
Warrant.  It shall be a condition to any transfer or
exercise of this Warrant that at the time of such transfer or exercise, the
Holder shall provide the Company with a representation in writing that the
Holder or transferee is acquiring this Warrant and the shares of Preferred
Stock to be issued upon exercise for investment purposes only and not with a
view to any sale or distribution, or will provide the Company with a statement
of pertinent facts covering any proposed distribution.  As a further condition to any transfer of
this Warrant or any or all of the shares of Preferred Stock issuable upon
exercise of this Warrant, other than a transfer registered under the Act, the
Company may request a legal opinion, in form and substance satisfactory to the
Company and its counsel, reciting the pertinent circumstances surrounding the
proposed transfer and stating that such transfer is exempt from the
registration and prospectus delivery requirements of the Act.  The Company shall not require Holder to
provide an opinion of counsel if the transfer is to an affiliate of
Holder.  Each certificate evidencing the
shares issued upon exercise of the Warrant or upon any transfer of the shares
(other than a transfer registered under the Act or any subsequent transfer of
shares so registered) shall, at the Company’s option, if the Shares are not
freely saleable under Rule 144(k) under the Act, contain a legend in form and
substance satisfactory to the Company and its counsel, restricting the transfer
of the shares to sales or other dispositions exempt from the requirements of
the Act.  As further condition to each
transfer, at the request of the Company, the Holder shall surrender this
Warrant to the Company and the transferee shall receive and accept a Warrant,
of like tenor and date, executed by the Company.

 

7.                                       Adjustment for Certain Events. 
The number and kind of securities purchasable upon the exercise of this
Warrant and the Warrant Price shall be subject to adjustment from time to time
upon the occurrence of certain events, as follows:

 

(a)                                  Reclassification or Merger. 
In case of any reclassification or change of securities of the class
issuable upon exercise of this Warrant (other than a change in par value, or
from par value to no par value, or from no par value to par value, or as a
result of a subdivision or combination), or in case of any merger of the
Company with or into another corporation (other than a merger with another
corporation in which the Company is the acquiring and the surviving corporation
and which does not result in any reclassification or change of outstanding securities
issuable upon exercise of this Warrant), or in case of any sale of all or
substantially all of the assets of the Company, the Company, or such successor
or purchasing corporation, as the case may be, shall duly execute and deliver
to the Holder a new Warrant (in form and substance

 

6

 

satisfactory
to the Holder of this Warrant), or the Company shall make appropriate provision
without the issuance of a new Warrant, so that the Holder shall have the right
to receive, at a total purchase price not to exceed that payable upon the
exercise of the unexercised portion of this Warrant, and in lieu of the shares
of Preferred Stock theretofore issuable upon exercise of this Warrant, the kind
and amount of shares of stock, other securities, money and property receivable
upon such reclassification, change, merger or sale by a Holder of the number of
shares of Preferred Stock then purchasable under this Warrant, or in the case
of such a merger or sale in which the consideration paid consists all or in
part of assets other than securities of the successor or purchasing
corporation, at the option of the Holder, the securities of the successor or
purchasing corporation having a value at the time of the transaction equivalent
to the value of the Preferred Stock purchasable upon exercise of this Warrant
at the time of the transaction.  Any new
Warrant shall provide for adjustments that shall be as nearly equivalent as may
be practicable to the adjustments provided for in this Section 7.  The provisions of this subparagraph (a) shall
similarly apply to successive reclassifications, changes, mergers and
transfers.

 

(b)                                 Subdivision or Combination of Shares. 
If the Company at any time while this Warrant remains outstanding and
unexpired shall subdivide or combine its outstanding shares of Preferred Stock,
the Warrant Price shall be proportionately decreased and the number of Shares
issuable hereunder shall be proportionately increased in the case of a
subdivision and the Warrant Price shall be proportionately increased and the
number of Shares issuable hereunder shall be proportionately decreased in the
case of a combination.

 

(c)                                  Stock Dividends and Other
Distributions.  If the Company at any time while this Warrant
is outstanding and unexpired shall (i) pay a dividend with respect to
Preferred Stock payable in Preferred Stock, then the Warrant Price shall be
adjusted, from and after the date of determination of shareholders entitled to
receive such dividend or distribution, to that price determined by multiplying
the Warrant Price in effect immediately prior to such date of determination by
a fraction (A) the numerator of which shall be the total number of shares
of Preferred Stock outstanding immediately prior to such dividend or distribution,
and (B) the denominator of which shall be the total number of shares of
Preferred Stock outstanding immediately after such dividend or distribution; or
(ii) make any other distribution with respect to Preferred Stock (except
any distribution specifically provided for in Sections 7(a) and 7(b)), then, in
each such case, provision shall be made by the Company such that the Holder of
this Warrant shall receive upon exercise of this Warrant a proportionate share
of any such dividend or distribution as though it were the Holder of the
Preferred Stock (or Common Stock issuable upon conversion thereof) as of the
record date fixed for the determination of the shareholders of the Company
entitled to receive such dividend or distribution.

 

8.                                       Notice of Adjustments. 
Whenever any Warrant Price or the kind or number of securities issuable
under this Warrant shall be adjusted pursuant to Section 7 hereof, the Company
shall prepare a certificate signed by an officer of the Company setting forth,
in reasonable detail, the event requiring the adjustment, the amount of the
adjustment, the method by which such adjustment was calculated, and the Warrant
Price and number or kind of shares issuable upon exercise of the Warrant after
giving effect to such adjustment, and shall cause copies of such certificate to
be mailed (by certified or registered mail, return receipt required, postage
prepaid) within thirty (30) days of such adjustment to the Holder of this
Warrant as set forth in Section 18 hereof.

 

7

 

9.                                       Transferability of Warrant. 
This Warrant is transferable on the books of the Company at its
principal office by the registered Holder hereof upon surrender of this Warrant
properly endorsed, subject to compliance with Section 6 and applicable federal
and state securities laws.  The Company
shall issue and deliver to the transferee a new Warrant representing the
Warrant so transferred.  Upon any partial
transfer, the Company will issue and deliver to Holder a new Warrant with
respect to the Warrant not so transferred. 
Holder shall not have any right to transfer any portion of this Warrant
to any direct competitor of the Company.

 

10.                                 Registration Rights. 
The Company grants registration rights to the Holder of this Warrant for
any Common Stock of the Company obtained upon conversion of the Preferred Stock
in parity to the registration rights granted to other holders of the Preferred
Stock and agrees that the Holder of this Warrant shall be added as a party to
that certain
                                 
dated as of                              
of the Company (the “Registration Rights Agreement”), and that the Shares shall
be made “Registrable Securities” under the Registration Rights Agreement.

 

11.                                 No Fractional Shares. 
No fractional share of Preferred Stock will be issued in connection with
any exercise hereunder, but in lieu of such fractional share the Company shall
make a cash payment therefor upon the basis of the
Warrant Price then in effect.

 

12.                                 Charges, Taxes and Expenses. 
Issuance of certificates for shares of Preferred Stock upon the exercise
of this Warrant shall be made without charge to the Holder for any United
States or state of the United States documentary stamp tax or other incidental
expense with respect to the issuance of such certificate, all of which taxes
and expenses shall be paid by the Company, and such certificates shall be
issued in the name of the Holder.

 

13.                                 No Shareholder Rights Until Exercise.  This Warrant
does not entitle the Holder hereof to any voting rights or other rights as a
shareholder of the Company prior to the exercise hereof.

 

14.                                 Registry of Warrant. 
The Company shall maintain a registry showing the name and address of
the registered Holder of this Warrant. 
This Warrant may be surrendered for exchange or exercise, in accordance
with its terms, at such office or agency of the Company, and the Company and
Holder shall be entitled to rely in all respects, prior to written notice to
the contrary, upon such registry.

 

15.                                 Loss, Theft, Destruction or
Mutilation of Warrant.  Upon receipt
by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant, and, in the case of loss, theft, or
destruction, of indemnity reasonably satisfactory to it, and, if mutilated,
upon surrender and cancellation of this Warrant, the Company will execute and
deliver a new Warrant, having terms and conditions substantially identical to
this Warrant, in lieu hereof.

 

16.                                 Miscellaneous.

 

(a)                                  Issue Date. 
The provisions of this Warrant shall be construed and shall be given
effect in all respect as if it had been issued and delivered by the Company on
the date hereof.

 

8

 

(b)                                 Successors. 
This Warrant shall be binding upon any successors or assigns of the
Company.

 

(c)                                  Governing Law. 
This Warrant shall be governed by and construed in accordance with the
laws of the State of Connecticut.

 

(d)                                 Headings. 
The headings used in this Warrant are used for convenience only and are
not to be considered in construing or interpreting this Warrant.

 

(e)                                  Saturdays, Sundays, Holidays. 
If the last of appointed day for the taking of any action or the
expiration of any right required or granted herein shall be a Saturday or a
Sunday or shall be a legal holiday in the State of Connecticut, then such
action may be taken or such right may be exercised on the next succeeding day
not a legal holiday.

 

(f)                                    Waiver of Jury Trial. 
Each of the parties hereto hereby waives to the fullest extent permitted
by applicable law, any right it may have to a trial by jury in respect of any
litigation directly or indirectly arising out of, under or in connection with
this Warrant or the Preferred Shares.

 

(g)                                 Attorney’s Fees. 
In the event of any dispute between the parties concerning the terms and
provisions of this Warrant, the party prevailing in such dispute shall be
entitled to collect from the other party all costs incurred in such dispute,
including reasonable attorney’s fees.

 

17.                                 No Impairment. 
The Company will not, by amendment of its Certificate of Incorporation
or any other voluntary action, avoid or seek to avoid the observance or
performance of any of the terms of this Warrant, but will at all times in good
faith assist in the carrying out of all such terms and in the taking of all
such action as may be necessary or appropriate in order to protect the rights
of the Holder hereof against impairment.

 

18.                                 Addresses. 
Any notice required or permitted hereunder shall be in writing and shall
be mailed by overnight courier, registered or certified mail, return receipt
required, and postage prepaid, or otherwise delivered by hand or by messenger,
addressed as set forth below, or at such other address as the Company or the
Holder hereof shall have furnished to the other party.

 

	
  If to the
  Company:

  	
  Sunesis
  Pharmaceuticals Incorporated

  
	
   

  	
  341 Oyster
  Point Blvd.

  
	
   

  	
  South San
  Francisco, CA 94080

  
	
   

  	
  Attn: Mr.
  Daniel N. Swisher, Jr.

  
	
   

  	
   

  
	
  If to the
  Holder:

  	
  General
  Electric Capital Corporation

  
	
   

  	
  83 Wooster
  Heights Road

  
	
   

  	
  Danbury, CT
  06810

  
	
   

  	
  Attn:  Credit Manager-Life Science Finance

  

 

9

 

IN WITNESS
WHEREOF, Sunesis Pharmaceuticals Incorporated has caused this Warrant to be
executed by its officers thereunto duly authorized.

 

	
  Dated as of
  June 27, 2004.

  	
  By: 

  	
  /s/ Eric
  Bjerkholt

  	
   

  
	
   

  	
  Name: Eric
  Bjerkholt

  
	
   

  	
  Title: SVP
  & CFO

  

 

10

 

NOTICE OF
EXERCISE

 

TO:

 

1.                                       The
undersigned Warrantholder (“Holder”) elects to acquire shares of the Series
           Preferred Stock
(the “Preferred Stock”) of
                              
(the “Company”), pursuant to the terms of the Stock Purchase Warrant dated
                    ,
200    (the “Warrant”).

 

2.                                       The
Holder exercises its rights under the Warrant as set forth below:

 

o                                    The
Holder elects to purchase
                          
shares of Preferred Stock as provided in Section 3(a) and tenders herewith a
check in the amount of
$                 
as payment of the purchase price.

 

o                                    The
Holder elects to convert the purchase rights into shares of Preferred Stock as
provided in Section 3(b) of the Warrant

 

3.                                       The
Holder surrenders the Warrant with this Notice of Exercise.

 

The Holder
represents that it is acquiring the aforesaid shares of Preferred Stock for
investment and not with a view to or for resale in connection with distribution
and that the Holder has no present intention of distributing or reselling the
shares.

 

Please issue a
certificate representing the shares of the Preferred Stock in the name of the
Holder or in such other name as is specified below:

 

Name:

 

Address:

 

Taxpayer I.D.:

 

	
   

  	
   

  	
   

  
	
   

  	
  (Holder)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Date:

  	
   

  	
   

  
					

 

 

AMENDMENT NO. 1 TO STOCK PURCHASE WARRANT GRANTED TO

GENERAL ELECTRIC CAPITAL CORPORATION DATED
JUNE 21, 2004

This amendment is to the STOCK PURCHASE WARRANT granted to General
Electric Capital Corporation on June 21, 2004 to purchase from Sunesis
Pharmaceuticals, Inc. 1,435 shares of Preferred Stock.

1.             The title is
deleted in its entirety and replaced with the following:

WARRANT TO PURCHASE 1,435 SHARES OF SERIES C PREFERRED STOCK

2.             The first paragraph
of the agreement is deleted in its entirety and is replaced with the following:

THIS CERTIFIES THAT, for value received, General Electric Capital
Corporation (“Holder”) is entitled to subscribe for and purchase One Thousand
Four Hundred Thirty Five (1,435) shares of the fully paid and nonassessable
Series C Preferred Stock (the “Shares” or the “Preferred Stock”) of Sunesis
Pharmaceuticals Incorporated, a Delaware corporation (the “Company”), at the
Warrant Price (as hereinafter defined), subject to the provisions and upon the
terms and conditions hereinafter set forth. 
As used herein, the term Series C Preferred Stock and any stock into which
such Series C Preferred Stock may hereafter be converted or exchanged.

Sunesis Pharmaceuticals, Inc.

	
  By:

  	
  /s/ Daryl B.
  Winter

  	
   

  
	
   

  	
  Daryl B.
  Winter

  
	
   

  	
  General
  Counsel

  
	
   

  	
  December 15,
  2004

  

 

Amendment Acknowledged by
General Electric Capital Corporation:

 

	
  By: 

  	
  /s/ Diane
  Earle

  	
   

  
	
  Name:   Diane Earle

  
	
  Title:     Senior Vice President

  
	
  Date:     December 16, 2004

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