Document:

<PAGE>

EXHIBIT 10.35

                               RELEASE AND WAIVER

                                  CONSIDERATION

      This Release is given in consideration of Inktomi Corporation's additional
provision of the following:

      (1) A paid leave of absence for eight (8) months (ending December 31,
2002) or until I am employed elsewhere, whichever is earlier. Upon exhaustion of
my paid leave of absence or upon commencement of other employment, whichever
occurs first, my employment with Inktomi Corporation will terminate
("Termination Date"). During my paid leave of absence, salary and benefits will
be treated as follows: I will continue to collect my regular base salary, less
deductions required by law, in accordance with Inktomi Corporation's regular
payroll periods; my employee group health benefits will continue; I will
continue to be eligible to participate in the personal goal achievement
component of the annual bonus plan only, but not the profit achievement
component; my participation in the ESPP will cease pursuant to the Inktomi
Corporation ESPP Plan documents; my stock options will cease to vest pursuant to
the Inktomi Corporation Stock Option plans (however, they will continue to be
exercisable for 90 days following my Termination Date in accordance with the
provisions of such plans); and I will not continue to accrue vacation and sick
leave. During this paid leave of absence, I may be called upon to perform
services for Inktomi Corporation and I agree to do so. My paid leave of absence
will begin on May 1, 2002, or ten (10) days after Inktomi Corporation's receipt
of this signed, unrevoked Release, whichever is later.

      (2) Forgiveness of my Employee Loan Agreement entered into April 30, 2001
(including the Promissory Note attached thereto as Exhibit A) ("Loan"), the
current balance (excluding interest) of which is $1,735,000. In addition,
Inktomi Corporation will provide me with a cash payment equivalent to the tax
incurred by me as a result of the forgiveness of the Loan ("Gross Up") up to
$992,272.73, less the amount of any after-tax gains acquired by the exercise and
sale of any Inktomi Corporation stock options held by me as determined by
Inktomi Corporation. I further agree to do a same day sale of all stock options
that I exercise and that I will exercise within ten (10) days of my Termination
Date all my vested in-the-money options. The Loan will be forgiven on my
Termination Date or ten (10) days after Inktomi Corporation's receipt of the
re-executed, unrevoked Release, whichever is later. The Gross Up will be
provided to me within thirty (30) days of my Termination date or thirty (30)
days after Inktomi Corporation's receipt of the re-executed, unrevoked Release,
whichever is later.

                                       1
<PAGE>
      (3) Outplacement services through the Termination Date, beginning on May
1, 2002 or ten (10) days after Inktomi Corporation's receipt of this signed
unrevoked Release, whichever is later.

      (4) Payment of relocation costs up to $25,000 for relocation of myself and
my family back to the U.K. if I am required to return to the U.K. within ninety
days of my Termination Date due to the expiration of my Visa (and not due to any
employment offer or opportunity). This benefit will be provided to me following
my submission to Inktomi Corporation of written receipts of the relocation costs
provided such receipts are received by Inktomi Corporation no later than April
14, 2003. This payment of relocation costs is conditional on Inktomi
Corporation's receipt of the re-executed, unrevoked Release.

      (5) Other than as set forth below, Inktomi's release and discharge of me
from any and all claims, of any and every kind, nature and character, known or
unknown, foreseen or unforeseen, based on any act or omission by me occurring
prior to the date of my signing this Release, including but not limited to any
claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty
under applicable state corporate law, and securities fraud under any state or
federal law; provided that Inktomi will not release or discharge me for any and
all claims arising out of my breach of any provision contained in my Employment,
Confidential Information, Invention Assignment and Arbitration Agreement.
Inktomi Corporation's release of its claims is conditional on Inktomi
Corporation's receipt of the re-executed, unrevoked Release.

            Inktomi understands and agrees that this Release extinguishes all
claims, whether known or unknown, foreseen or unforeseen, except for those
claims expressly described above. Inktomi expressly waives any rights or
benefits under Section 1542 of the California Civil Code, or any equivalent
statute. California Civil Code Section 1542 provides as follows:

            "A general release does not extend to claims which the creditor does
            not know or suspect to exist in his favor at the time of executing
            the release, which if known by him must have materially affected his
            settlement with the debtor."

            Inktomi fully understands that, if any fact with respect to any
matter covered by this Release is found hereafter to be other than or different
from the facts now believed by Inktomi to be true, Inktomi expressly accepts and
assumes that this Release shall be and remain effective, notwithstanding such
difference in the facts.

      I understand that these are additional benefits to which I am not eligible
unless I elect to sign this Release. I acknowledge and agree that I am not
eligible for participation in any Inktomi Corporation severance plan, policy or
practice. I understand that I have an obligation to inform Inktomi Corporation
if I become employed elsewhere before my
<PAGE>
Termination Date. I also understand and agree that I will not be entitled to
such consideration detailed above should I commence employment with an
subsidiary company. Further, I expressly agree that any and all tax liability,
cost, interest, assessment and/or penalty which may become due because of the
payment of the benefits herein are my sole responsibility other than as
expressly set forth herein. I further agree to pay any taxes, costs, interest,
assessments and/or penalties which shall become due and will deliver to Inktomi
Corporation proof of such payments, if necessary, and will indemnify and hold
Inktomi Corporation harmless if it incurs any tax liability, cost, interest,
assessment and/or penalty as a result of this Release.

      I waive my right to six (6) months continued pay, less deductions required
by law and any other benefits set forth in my offer letter with Inktomi
Corporation dated November 22, 2000 and any attachments thereto in exchange for
the benefits provided herein.

                                     RELEASE

      In consideration of these additional benefits, I, on behalf of my heirs,
spouse and assigns, hereby completely release and forever discharge Inktomi
Corporation, its past and present affiliates, agents, officers, directors,
shareholders, employees, attorneys, insurers, successors and assigns
(collectively referred to as "Company") from any and all claims, of any and
every kind, nature and character, known or unknown, foreseen or unforeseen,
based on any act or omission occurring prior to the date of my signing this
Release, including but not limited to any claims arising out of my offer of
employment, my employment or termination of my employment with the Company or my
right to purchase, or actual purchase of shares of stock of the Company,
including, without limitation, any claims for fraud, misrepresentation, breach
of fiduciary duty, breach of duty under applicable state corporate law, and
securities fraud under any state or federal law. The matters released include,
but are not limited to, any claims under federal, state or local laws, including
claims arising under, Title VII of the Civil Rights Act of 1964, the Civil
Rights Act of 1866, the Civil Rights Act of 1991, the Employee Retirement and
Income Security Act of 1974, the Americans with Disabilities Act, the Age
Discrimination in Employment Act of 1967 ("ADEA") as amended, including but not
limited to, the Older Workers' Benefit Protection Act ("OWBPA") other than
claims relating to the validity of this Release under the ADEA as amended by the
OWBPA, and any common law, tort or contract or statutory claims, and any claims
for attorneys' fees and costs. The only exceptions are any claims I may have for
unemployment or workers compensation.

      I understand and agree that this Release extinguishes all claims, whether
known or unknown, foreseen or unforeseen, except for those claims expressly
described above. I expressly waive any rights or benefits under Section 1542 of
the California Civil Code, or any equivalent statute. California Civil Code
Section 1542 provides as follows:
<PAGE>
      "A general release does not extend to claims which the creditor does not
      know or suspect to exist in his favor at the time of executing the
      release, which if known by him must have materially affected his
      settlement with the debtor."

      I fully understand that, if any fact with respect to any matter covered by
this Release is found hereafter to be other than or different from the facts now
believed by me to be true, I expressly accept and assume that this Release shall
be and remain effective, notwithstanding such difference in the facts.

      I agree not to file any claim, charge, action or complaint concerning any
matter referred to in this Release, with the exception of any claim that I may
have as to the validity of this Release under the ADEA as amended by the OWBPA.
If I have previously filed any claims, other than relating to the validity of
this Release under the ADEA, I agree to take all reasonable steps to cause them
to be withdrawn without delay. I agree not to apply for employment with the
Company or any of its subsidiaries, in the future and I also understand that the
Company and its subsidiaries have no obligation to re-hire or employ me.

      I further acknowledge that during my employment, I may have obtained
confidential, proprietary and trade secret information, including information
relating to the Company's products, plans, designs and other valuable
confidential information. I agree not to disclose any such confidential
information unless required by subpoena or court order, and that I will first
give the Company written notice of such subpoena or court order with reasonable
advance notice to permit the Company to oppose such subpoena or court order if
it chooses to do so.

      I also agree that for a period of 1 year after the Termination Date with
the Company, and within any county in the United States or other equivalent
geographical subdivision in foreign jurisdictions in which the Company does
business (a list of which is available from Human Resources and is incorporated
herein), I shall not: (i) directly call upon or solicit any of the customers of
the Company or any subsidiary that were or became customers and with whom I
developed a relationship during the term of my employment (as used herein
"customer" shall mean any person or company as listed as such on the books of
the Company or any subsidiary); or (ii) induce or attempt to induce any
employee, agent or consultant of the Company or any subsidiary to terminate his
or her association with the Company or any subsidiaries. The Company and I agree
that the provisions of this paragraph contain restrictions that are not greater
than necessary to protect the interests of the Company. In the event of the
breach or threatened breach by me of this paragraph, the Company, in addition to
all other remedies available to it at law or in equity, will be entitled to seek
injunctive relief and/or specific performance to enforce this paragraph. The
provisions of this paragraph expressly supersede any
<PAGE>
conflicting provisions contained in any other plan or agreement I am party to
with the Company.

      This Release constitutes the entire agreement between myself and the
Company with respect to any matters referred to in this Release. This Release
supersedes any and all of the other agreements between myself and the Company,
except for the Employment, Confidential Information, Invention Assignment and
Arbitration Agreement, attached hereto as Attachment 1, which remain in full
force and effect. No other consideration, agreements, representations, oral
statements, understandings or course of conduct which are not expressly set
forth in this Release should be implied or are binding. I understand and agree
that this Release shall not be deemed or construed at any time or for any
purposes as an admission of any liability or wrongdoing by either myself or the
Company. I also agree that if any provision of this agreement is deemed invalid,
the remaining provisions will still be given full force and effect. The terms
and conditions of this agreement and release will be interpreted and construed
in accordance with the laws of California.

      Prior to execution of this Release, I have apprised myself of sufficient
relevant information in order that I might intelligently exercise my own
judgment. The Company has informed me in writing to consult an attorney before
signing this Agreement, if I wish. The Company has also given me at least 21
days in which to consider this Release, if I wish. I also understand that for a
period of seven (7) days after I sign this Release, I may revoke this Release
Agreement, and that the Release shall not become effective until seven (7) days
from the date of my signature.

      I have read this Release and understand all of its terms. I further
acknowledge and agree that this Release is executed voluntarily and with full
knowledge of its legal significance. I also understand and agree that if any
suit is brought to enforce the provisions of this Release, with the exception of
a claim brought by me as to the validity of this Release under the ADEA as
amended by the OWBPA, the prevailing party shall be entitled to its costs,
expenses, and attorneys' fees as well as any and all other remedies specifically
authorized under the law.

      Finally, I agree that I will not disclose voluntarily or allow anyone else
to disclose either the existence, reason for or contents of this Release without
the Company's prior written consent, unless required to do so by law.
Notwithstanding this provision, I am authorized to disclose this Release to my
spouse, attorneys and tax advisors on a "need to know" basis, on the condition
that they agree to hold the terms of the Release, including the settlement
payments, in strictest confidence. I am further authorized to make appropriate
disclosures as required by law, provided that I notify the Company in writing of
such legal obligations to disclose at least five (5) business days in advance of
disclosure. I further agree to indemnify and hold harmless the Company for and
against any and all costs, losses
<PAGE>
or liability, whatsoever, including reasonable attorney's fees, caused by my
breach of the non-disclosure provisions.

                        EMPLOYEE'S ACCEPTANCE OF RELEASE

      I HAVE CAREFULLY READ AND FULLY UNDERSTAND AND VOLUNTARILY AGREE TO ALL
THE TERMS OF THE RELEASE IN EXCHANGE FOR THE ADDITIONAL BENEFITS TO WHICH I
WOULD OTHERWISE NOT BE ENTITLED.

Dated:  April 19, 2002                    /s/ Ted Hally
                                          ------------------------
                                              Ted Hally

                       INKTOMI'S AGREEMENT TO THE RELEASE

      INKTOMI AGREES TO PROVIDE THE BENEFITS DESCRIBED HEREIN EXCHANGE FOR
THIS RELEASE.

Dated: April 18, 2002                     /s/ Tim Burch
                                          ------------------------
                                              Tim Burch,
                                              VP of Human Resources
<PAGE>
              EMPLOYEE'S RE-EXECUTION AND AFFIRMATION OF RELEASE

I HEREBY RE-EXECUTE AND REAFFIRM ALL RIGHTS AND OBLIGATIONS SET FORTH IN THE
RELEASE ENTERED INTO ON ____________, 2002, INCLUDING BUT NOT LIMITED TO AN
ADDITIONAL 21 DAYS TO CONSIDER THE RE-EXECUTION AND ADDITIONAL 7 DAYS TO REVOKE
MY RE-EXECUTION, AND I VOLUNTARILY AGREE TO ALL OF THE TERMS IN THE RELEASE IN
EXCHANGE FOR THE ADDITIONAL BENEFITS TO WHICH I WOULD NOT OTHERWISE BE ENTITLED.

DATED:__________________                      ________________________________
                                                         Ted Hally
<PAGE>
                                  ATTACHMENT 1

     [ATTACH Employment, Confidential Information, Invention Assignment and
                             Arbitration Agreement]<PAGE>

EXHIBIT 10.37

                                 PROMISSORY NOTE

                                   $500,000.00

                             FOSTER CITY, CALIFORNIA
                                FEBRUARY 27, 2002

            WHEREAS, it is the intention of Inktomi Corporation to encourage and
provide its Chief Executive Officer with an incentive to retain his investments
in its stock and to focus on growing the company. Under the current environment,
by extending credit to its Chief Executive Officer, Inktomi Corporation can
limit any negative inferences or impact to the company that may arise from its
Chief Executive Officer's sale of a significant amount of its stock to meet his
short-term cash needs due to factors beyond his individual control including his
personal lock-up on sale of stock for an extended period of time. This paragraph
is not intended to create any binding obligation.

            FOR VALUE RECEIVED, David C. Peterschmidt (the "Borrower"), hereby
promises to pay to the order of Inktomi Corporation, a Delaware corporation (or
its successor upon any sale, merger, acquisition or reorganization) (the
"Lender"), the principal sum of Five Hundred Thousand Dollars ($500,000.00), in
lawful money of the United States of America, on February 27, 2004 or when
earlier required pursuant to Sections 7, 8, 9 or 10 hereof (the "Repayment
Date").

            1. Interest Rate. The outstanding principal amount of this Note,
together with all accrued and unpaid interest thereon, shall bear interest at a
rate per annum equal to prime at the time of issuance plus one (6%).

            2. Interest Payments. Interest payments on the Note shall be payable
in cash on the Repayment Date. Interest shall be calculated on the basis of a
year comprised of twelve (12) thirty (30) day months.

            3. No Usury. This Note is hereby expressly limited so that in no
event whatsoever, whether by reason of deferment or advancement of loan
proceeds, acceleration of maturity of the loan evidenced hereby, or otherwise,
shall the amount paid or agreed to be paid to the Lender hereunder for the loan,
use, forbearance or detention of money exceed the maximum interest rate
permitted by the laws of the State of California. If at any time the performance
of any provision involves a payment exceeding the limit of the price that may be
validly charged for the loan, use, forbearance or detention of money under
applicable law, then automatically and retroactively, ipso facto, the obligation
to be performed shall be reduced to such limit, it being the specific intent of
the Company and the Borrower that all payments under this Note are to be
credited first to interest as permitted by law, but not in excess of (i) the
agreed rate of interest hereunder, or (ii) that permitted by law, whichever is
the lesser, and the balance toward the reduction of principal.

            4. Method of Payment. All payments hereunder shall be made by cash
or check to Lender, Inktomi Corporation, 4100 East 3rd Avenue, Foster City, CA
94404, or at such other
<PAGE>
place, or by such other means, as the Lender shall designate to the Borrower in
writing. If any payment of principal or interest on this Note is due on a day
which is not a Business Day, such payment shall be due on the next succeeding
Business Day. "Business Day" means any day other than a Saturday, Sunday or
legal holiday in the State of California.

            5. Prepayment. The Borrower shall have the right to prepay the
principal amount hereof in full or in part, together with all accrued interest
on the amount prepaid to the date of such prepayment, at any time without
penalty.

            6. Reserved.

            7. Events of Default.

                 (a) The occurrence of one or more of the following shall
constitute an event of default ("Event of Default") hereunder:

                       (i) The Borrower's failure to pay any payment of
principal or interest on the Note when due;

                       (ii) If, pursuant to or within the meaning of the United
States Bankruptcy Code or any other federal or state law relating to insolvency
or relief of debtors ("Bankruptcy Law"), the Borrower shall (a) commence a
voluntary case or proceeding, (b) consent to the entry of an order for relief
against the Borrower, in an involuntary case, (c) consent to the appointment of
a trustee, receiver, assignee, liquidator or similar official, (d) make an
assignment for the benefit of the Borrower's creditors, or (e) admit in writing
the Borrower's inability to pay Borrower's debts as they become due;

                       (iii) If a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that (a) is for relief against the
Borrower in an involuntary case, (b) appoints a trustee, receiver, assignee,
liquidator or similar official for the Borrower or substantially all of the
Borrower's properties, (c) orders the liquidation of the Borrower, and in each
case the order or decree is not dismissed within 30 days; or

                       (iv) The occurrence of an event described in Section 8
hereof, or the Borrower's failure to observe or perform any covenant or
agreement contained in this Note including, but not limited to, Sections 9 and
10 hereof;

                 (b) Upon the occurrence of an Event of Default, the principal
of this Note, together with all unpaid interest and all other amounts payable
hereunder, shall become due and payable forthwith, without presentment, demand,
notice, protest or other requirement of any kind, all of which are expressly
waived by Borrower. Upon the occurrence of an Event of Default (unless all
Events of Default have been cured or waived by Lender), Lender may, at its
option, by written notice of Borrower, declare the entire unpaid principal
balance of this Note, together with all accrued interest thereon, immediately
due and payable regardless of any prior forbearance. In either such case, Lender
may exercise any and all rights and remedies available to it under applicable
law, including, without limitation, the right to collect from Borrower all sums
due under this Note. Borrower shall pay all reasonable costs and expenses of
collection

                                       2
<PAGE>
incurred by or on behalf of Lender as a result of an Event of Default including,
without limitation, reasonable attorneys' fees.

            8. Termination of Employment. Upon the termination of the Borrower's
employment with the Lender for any reason, including, without limitation, with
or without cause, or by reason of death or disability, the entire unpaid
principal balance plus all accrued and unpaid interest of this Note, and any
other charges owing to the Lender, shall become due and payable one hundred and
twenty (120) days after the date of such termination of such employment,
irrespective of the maturity date of this Note. Nothing in this Note shall
create any employment right or entitlement in favor of the Borrower, which
employment with the Lender shall remain "at-will."

            9. Mandatory Prepayment on Receipt of Bonus. If at any time, or from
time to time, Borrower shall receive any compensatory bonus from the Company
(including, but not limited to, cash payments, cash dividends or other
distributions), but not including payments or distributions in the form of
Lender capital stock, then the after-tax proceeds (the "Net Proceeds") from such
compensatory bonus shall be applied to the prepayment of the unpaid principal
balance plus all accrued and unpaid interest of this Note within seven (7)
calendar days after receipt thereof (the "Mandatory Prepayment Period"). If the
Lender does not receive such Net Proceeds within the Mandatory Prepayment
Period, the entire principal balance plus all accrued and unpaid interest of
this Note shall become immediately due and payable pursuant to Section 7 hereof.

            10. Mandatory Prepayment on Sale of Stock. If at any time, or from
time to time, Borrower shall receive any proceeds from the sale or other
disposition of shares of Lender capital stock now owned or hereinafter acquired
by Borrower ("Borrower Stock"), then 50% of the after-tax proceeds (the
"Borrower Stock Proceeds") of such sale or other disposition shall be applied to
the prepayment of the unpaid principal balance plus all accrued and unpaid
interest of this Note within the Mandatory Prepayment Period. If the Lender does
not receive such Borrower Stock Proceeds within the Mandatory Prepayment Period,
the entire principal balance plus all accrued and unpaid interest of this Note
shall become immediately due and payable pursuant to Section 7 hereof.

            11. Recourse. The Lender shall be entitled to recourse against the
Borrower for the payment of any principal and accrued interest of the Note or
for any claim based hereon (including costs of collection).

            12. Costs of Collection. Upon the failure of the Borrower to pay any
amount due hereunder as and when due, the Borrower shall pay on demand any
reasonable costs and expenses incurred by the holder hereof in connection with
the collection of any outstanding principal and in connection with the
enforcement of any rights or remedies provided for pursuant to this Note. If not
paid on demand, all such costs and expenses automatically shall be added to the
remaining principal balance hereunder as of the date immediately following the
date of such demand.

            13. Waiver. The Borrower hereby waives any right it might otherwise
have to require notice or acceptance by any other person of its obligations or
liabilities under this Note

                                       3
<PAGE>
which are unconditional and absolute and waives diligence, presentment, demand
of payment, protest and notice with respect to all of the obligations of the
Borrower under this Note and with respect to any action under this Note and all
other notices and demands whatsoever, except as specifically provided for in
this Note. This Note may be amended, and the observance of any term of this Note
may be waived, with (and only with) the written consent of the Lender.

            14. Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of California.

            15. Assignment or Pledge of Note. The Lender shall promptly notify
the Borrower of any endorsement, assignment, pledge or hypothecation of this
Note to a person not affiliated with the Lender. This Note may not be sold,
assigned, hypothecated, delegated or transferred by the Borrower, by operation
of law or otherwise, without prior written consent of the Lender.

            16. Loss, Mutilation, Etc. Upon notice from the holder of this Note
to the Borrower of the loss, theft, destruction or mutilation of this Note, and
upon receipt of an indemnity reasonably satisfactory to the Borrower from the
holder of this Note or, in the case of mutilation hereof, upon surrender of the
mutilated Note, the Borrower will make and deliver a new note of like tenor in
lieu of this Note.

            17. Notices. All notices and other communications required or
permitted under this Note shall be in writing and shall be personally delivered
or sent by certified first class United States mail, postage prepaid, return
receipt requested, and if mailed, shall be deemed to have been received on the
third business day after deposit in the mail, addressed to the Lender, Inktomi
Corporation, 4100 East 3rd Avenue, Foster City, California 94404, Attention:
General Counsel, or to the Borrower at the address set forth below the
Borrower's signature. Notice of any change of either party's address shall be
given by written notice in the manner set forth in this paragraph.

            18. Severability. If any provision in this Note is construed to be
invalid, illegal or unenforceable, then the remaining provisions shall not in
any way be affected thereby and shall be enforced without regard thereto.

                                       4
<PAGE>
            IN WITNESS WHEREOF, the Borrower has executed this Note on the date
first above written.

                                   BORROWER:

                                   /s/ David Peterschmidt
                                   -------------------------------------------
                                   Signature of Borrower

                                   -------------------------------------------
                                   Print or Type Name: David C. Peterschmidt

                                   -------------------------------------------
                                   Address

                                   -------------------------------------------
                                   City, State, Zip Code

                                   -------------------------------------------
                                   Telephone Number

AGREED AND ACCEPTED

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

Inktomi Corporation
4100 East 3rd Avenue
Foster City, CA 94404
<PAGE>
                                 PROMISSORY NOTE

                                   $400,000.00

                             FOSTER CITY, CALIFORNIA
                                 MARCH 20, 2002

            WHEREAS, it is the intention of Inktomi Corporation to encourage and
provide its Chief Executive Officer with an incentive to retain his investments
in its stock and to focus on growing the company. Under the current environment,
by extending credit to its Chief Executive Officer, Inktomi Corporation can
limit any negative inferences or impact to the company that may arise from its
Chief Executive Officer's sale of a significant amount of its stock to meet his
short-term cash needs due to factors beyond his individual control including his
personal lock-up on sale of stock for an extended period of time. This paragraph
is not intended to create any binding obligation.

            FOR VALUE RECEIVED, David C. Peterschmidt (the "Borrower"), hereby
promises to pay to the order of Inktomi Corporation, a Delaware corporation (or
its successor upon any sale, merger, acquisition or reorganization) (the
"Lender"), the principal sum of Four Hundred Thousand Dollars ($400,000.00), in
lawful money of the United States of America, on March 20, 2004 or when earlier
required pursuant to Sections 7, 8, 9 or 10 hereof (the "Repayment Date").

            1. Interest Rate. The outstanding principal amount of this Note,
together with all accrued and unpaid interest thereon, shall bear interest at a
rate per annum equal to prime at the time of issuance plus one (6%).

            2. Interest Payments. Interest payments on the Note shall be payable
in cash on the Repayment Date. Interest shall be calculated on the basis of a
year comprised of twelve (12) thirty (30) day months.

            3. No Usury. This Note is hereby expressly limited so that in no
event whatsoever, whether by reason of deferment or advancement of loan
proceeds, acceleration of maturity of the loan evidenced hereby, or otherwise,
shall the amount paid or agreed to be paid to the Lender hereunder for the loan,
use, forbearance or detention of money exceed the maximum interest rate
permitted by the laws of the State of California. If at any time the performance
of any provision involves a payment exceeding the limit of the price that may be
validly charged for the loan, use, forbearance or detention of money under
applicable law, then automatically and retroactively, ipso facto, the obligation
to be performed shall be reduced to such limit, it being the specific intent of
the Company and the Borrower that all payments under this Note are to be
credited first to interest as permitted by law, but not in excess of (i) the
agreed rate of interest hereunder, or (ii) that permitted by law, whichever is
the lesser, and the balance toward the reduction of principal.

            4. Method of Payment. All payments hereunder shall be made by cash
or check to Lender, Inktomi Corporation, 4100 East 3rd Avenue, Foster City, CA
94404, or at such other

                                       2
<PAGE>
place, or by such other means, as the Lender shall designate to the Borrower in
writing. If any payment of principal or interest on this Note is due on a day
which is not a Business Day, such payment shall be due on the next succeeding
Business Day. "Business Day" means any day other than a Saturday, Sunday or
legal holiday in the State of California.

            5. Prepayment. The Borrower shall have the right to prepay the
principal amount hereof in full or in part, together with all accrued interest
on the amount prepaid to the date of such prepayment, at any time without
penalty.

            6. Reserved.

            7. Events of Default.

                 (a) The occurrence of one or more of the following shall
constitute an event of default ("Event of Default") hereunder:

                       (i) The Borrower's failure to pay any payment of
principal or interest on the Note when due;

                       (ii) If, pursuant to or within the meaning of the United
States Bankruptcy Code or any other federal or state law relating to insolvency
or relief of debtors ("Bankruptcy Law"), the Borrower shall (a) commence a
voluntary case or proceeding, (b) consent to the entry of an order for relief
against the Borrower, in an involuntary case, (c) consent to the appointment of
a trustee, receiver, assignee, liquidator or similar official, (d) make an
assignment for the benefit of the Borrower's creditors, or (e) admit in writing
the Borrower's inability to pay Borrower's debts as they become due;

                       (iii) If a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that (a) is for relief against the
Borrower in an involuntary case, (b) appoints a trustee, receiver, assignee,
liquidator or similar official for the Borrower or substantially all of the
Borrower's properties, (c) orders the liquidation of the Borrower, and in each
case the order or decree is not dismissed within 30 days; or

                       (iv) The occurrence of an event described in Section 8
hereof, or the Borrower's failure to observe or perform any covenant or
agreement contained in this Note including, but not limited to, Sections 9 and
10 hereof;

            (b) Upon the occurrence of an Event of Default, the principal of
this Note, together with all unpaid interest and all other amounts payable
hereunder, shall become due and payable forthwith, without presentment, demand,
notice, protest or other requirement of any kind, all of which are expressly
waived by Borrower. Upon the occurrence of an Event of Default (unless all
Events of Default have been cured or waived by Lender), Lender may, at its
option, by written notice of Borrower, declare the entire unpaid principal
balance of this Note, together with all accrued interest thereon, immediately
due and payable regardless of any prior forbearance. In either such case, Lender
may exercise any and all rights and remedies available to it under applicable
law, including, without limitation, the right to collect from Borrower all sums
due under this Note. Borrower shall pay all reasonable costs and expenses of
collection

                                       3
<PAGE>
incurred by or on behalf of Lender as a result of an Event of Default including,
without limitation, reasonable attorneys' fees.

            8. Termination of Employment. Upon the termination of the Borrower's
employment with the Lender for any reason, including, without limitation, with
or without cause, or by reason of death or disability, the entire unpaid
principal balance plus all accrued and unpaid interest of this Note, and any
other charges owing to the Lender, shall become due and payable one hundred and
twenty (120) days after the date of such termination of such employment,
irrespective of the maturity date of this Note. Nothing in this Note shall
create any employment right or entitlement in favor of the Borrower, which
employment with the Lender shall remain "at-will."

            9. Mandatory Prepayment on Receipt of Bonus. If at any time, or from
time to time, Borrower shall receive any compensatory bonus from the Company
(including, but not limited to, cash payments, cash dividends or other
distributions), but not including payments or distributions in the form of
Lender capital stock, then the after-tax proceeds (the "Net Proceeds") from such
compensatory bonus shall be applied to the prepayment of the unpaid principal
balance plus all accrued and unpaid interest of this Note within seven (7)
calendar days after receipt thereof (the "Mandatory Prepayment Period"). If the
Lender does not receive such Net Proceeds within the Mandatory Prepayment
Period, the entire principal balance plus all accrued and unpaid interest of
this Note shall become immediately due and payable pursuant to Section 7 hereof.

            10. Mandatory Prepayment on Sale of Stock. If at any time, or from
time to time, Borrower shall receive any proceeds from the sale or other
disposition of shares of Lender capital stock now owned or hereinafter acquired
by Borrower ("Borrower Stock"), then 50% of the after-tax proceeds (the
"Borrower Stock Proceeds") of such sale or other disposition shall be applied to
the prepayment of the unpaid principal balance plus all accrued and unpaid
interest of this Note within the Mandatory Prepayment Period. If the Lender does
not receive such Borrower Stock Proceeds within the Mandatory Prepayment Period,
the entire principal balance plus all accrued and unpaid interest of this Note
shall become immediately due and payable pursuant to Section 7 hereof.

            11. Recourse. The Lender shall be entitled to recourse against the
Borrower for the payment of any principal and accrued interest of the Note or
for any claim based hereon (including costs of collection).

            12. Costs of Collection. Upon the failure of the Borrower to pay any
amount due hereunder as and when due, the Borrower shall pay on demand any
reasonable costs and expenses incurred by the holder hereof in connection with
the collection of any outstanding principal and in connection with the
enforcement of any rights or remedies provided for pursuant to this Note. If not
paid on demand, all such costs and expenses automatically shall be added to the
remaining principal balance hereunder as of the date immediately following the
date of such demand.

            13. Waiver. The Borrower hereby waives any right it might otherwise
have to require notice or acceptance by any other person of its obligations or
liabilities under this Note

                                       4
<PAGE>
which are unconditional and absolute and waives diligence, presentment, demand
of payment, protest and notice with respect to all of the obligations of the
Borrower under this Note and with respect to any action under this Note and all
other notices and demands whatsoever, except as specifically provided for in
this Note. This Note may be amended, and the observance of any term of this Note
may be waived, with (and only with) the written consent of the Lender.

            14. Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of California.

            15. Assignment or Pledge of Note. The Lender shall promptly notify
the Borrower of any endorsement, assignment, pledge or hypothecation of this
Note to a person not affiliated with the Lender. This Note may not be sold,
assigned, hypothecated, delegated or transferred by the Borrower, by operation
of law or otherwise, without prior written consent of the Lender.

            16. Loss, Mutilation, Etc. Upon notice from the holder of this Note
to the Borrower of the loss, theft, destruction or mutilation of this Note, and
upon receipt of an indemnity reasonably satisfactory to the Borrower from the
holder of this Note or, in the case of mutilation hereof, upon surrender of the
mutilated Note, the Borrower will make and deliver a new note of like tenor in
lieu of this Note.

            17. Notices. All notices and other communications required or
permitted under this Note shall be in writing and shall be personally delivered
or sent by certified first class United States mail, postage prepaid, return
receipt requested, and if mailed, shall be deemed to have been received on the
third business day after deposit in the mail, addressed to the Lender, Inktomi
Corporation, 4100 East 3rd Avenue, Foster City, California 94404, Attention:
General Counsel, or to the Borrower at the address set forth below the
Borrower's signature. Notice of any change of either party's address shall be
given by written notice in the manner set forth in this paragraph.

            18. Severability. If any provision in this Note is construed to be
invalid, illegal or unenforceable, then the remaining provisions shall not in
any way be affected thereby and shall be enforced without regard thereto.

                                       5
<PAGE>
            IN WITNESS WHEREOF, the Borrower has executed this Note on the date
first above written.

                                   BORROWER:

                                   /s/ David Peterschmidt
                                   ------------------------------------------
                                   Signature of Borrower

                                   ------------------------------------------
                                   Print or Type Name: David C. Peterschmidt

                                   ------------------------------------------
                                   Address

                                   ------------------------------------------
                                   City, State, Zip Code

                                   ------------------------------------------
                                   Telephone Number

AGREED AND ACCEPTED

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

Inktomi Corporation
4100 East 3rd Avenue
Foster City, CA 94404
<PAGE>
                                 PROMISSORY NOTE

                                   $500,000.00

                             FOSTER CITY, CALIFORNIA
                                  APRIL 3, 2002

            WHEREAS, it is the intention of Inktomi Corporation to encourage and
provide its Chief Executive Officer with an incentive to retain his investments
in its stock and to focus on growing the company. Under the current environment,
by extending credit to its Chief Executive Officer, Inktomi Corporation can
limit any negative inferences or impact to the company that may arise from its
Chief Executive Officer's sale of a significant amount of its stock to meet his
short-term cash needs due to factors beyond his individual control including his
personal lock-up on sale of stock for an extended period of time. This paragraph
is not intended to create any binding obligation.

            FOR VALUE RECEIVED, David C. Peterschmidt (the "Borrower"), hereby
promises to pay to the order of Inktomi Corporation, a Delaware corporation (or
its successor upon any sale, merger, acquisition or reorganization) (the
"Lender"), the principal sum of Five Hundred Thousand Dollars ($500,000.00), in
lawful money of the United States of America, on April 3, 2004 or when earlier
required pursuant to Sections 7, 8, 9 or 10 hereof (the "Repayment Date").

            1. Interest Rate. The outstanding principal amount of this Note,
together with all accrued and unpaid interest thereon, shall bear interest at a
rate per annum equal to prime at the time of issuance plus one (6%).

            2. Interest Payments. Interest payments on the Note shall be payable
in cash on the Repayment Date. Interest shall be calculated on the basis of a
year comprised of twelve (12) thirty (30) day months.

            3. No Usury. This Note is hereby expressly limited so that in no
event whatsoever, whether by reason of deferment or advancement of loan
proceeds, acceleration of maturity of the loan evidenced hereby, or otherwise,
shall the amount paid or agreed to be paid to the Lender hereunder for the loan,
use, forbearance or detention of money exceed the maximum interest rate
permitted by the laws of the State of California. If at any time the performance
of any provision involves a payment exceeding the limit of the price that may be
validly charged for the loan, use, forbearance or detention of money under
applicable law, then automatically and retroactively, ipso facto, the obligation
to be performed shall be reduced to such limit, it being the specific intent of
the Company and the Borrower that all payments under this Note are to be
credited first to interest as permitted by law, but not in excess of (i) the
agreed rate of interest hereunder, or (ii) that permitted by law, whichever is
the lesser, and the balance toward the reduction of principal.

            4. Method of Payment. All payments hereunder shall be made by cash
or check to Lender, Inktomi Corporation, 4100 East 3rd Avenue, Foster City, CA
94404, or at such other place, or by such other means, as the Lender shall
designate to the Borrower in writing. If any

                                       2
<PAGE>
payment of principal or interest on this Note is due on a day which is not a
Business Day, such payment shall be due on the next succeeding Business Day.
"Business Day" means any day other than a Saturday, Sunday or legal holiday in
the State of California.

            5. Prepayment. The Borrower shall have the right to prepay the
principal amount hereof in full or in part, together with all accrued interest
on the amount prepaid to the date of such prepayment, at any time without
penalty.

            6. Reserved.

            7. Events of Default.

                 (a) The occurrence of one or more of the following shall
constitute an event of default ("Event of Default") hereunder:

                       (i) The Borrower's failure to pay any payment of
principal or interest on the Note when due;

                       (ii) If, pursuant to or within the meaning of the United
States Bankruptcy Code or any other federal or state law relating to insolvency
or relief of debtors ("Bankruptcy Law"), the Borrower shall (a) commence a
voluntary case or proceeding, (b) consent to the entry of an order for relief
against the Borrower, in an involuntary case, (c) consent to the appointment of
a trustee, receiver, assignee, liquidator or similar official, (d) make an
assignment for the benefit of the Borrower's creditors, or (e) admit in writing
the Borrower's inability to pay Borrower's debts as they become due;

                       (iii) If a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that (a) is for relief against the
Borrower in an involuntary case, (b) appoints a trustee, receiver, assignee,
liquidator or similar official for the Borrower or substantially all of the
Borrower's properties, (c) orders the liquidation of the Borrower, and in each
case the order or decree is not dismissed within 30 days; or

                       (iv) The occurrence of an event described in Section 8
hereof, or the Borrower's failure to observe or perform any covenant or
agreement contained in this Note including, but not limited to, Sections 9 and
10 hereof;

            (b) Upon the occurrence of an Event of Default, the principal of
this Note, together with all unpaid interest and all other amounts payable
hereunder, shall become due and payable forthwith, without presentment, demand,
notice, protest or other requirement of any kind, all of which are expressly
waived by Borrower. Upon the occurrence of an Event of Default (unless all
Events of Default have been cured or waived by Lender), Lender may, at its
option, by written notice of Borrower, declare the entire unpaid principal
balance of this Note, together with all accrued interest thereon, immediately
due and payable regardless of any prior forbearance. In either such case, Lender
may exercise any and all rights and remedies available to it under applicable
law, including, without limitation, the right to collect from Borrower all sums
due under this Note. Borrower shall pay all reasonable costs and expenses of
collection

                                       3
<PAGE>
incurred by or on behalf of Lender as a result of an Event of Default including,
without limitation, reasonable attorneys' fees.

            8. Termination of Employment. Upon the termination of the Borrower's
employment with the Lender for any reason, including, without limitation, with
or without cause, or by reason of death or disability, the entire unpaid
principal balance plus all accrued and unpaid interest of this Note, and any
other charges owing to the Lender, shall become due and payable one hundred and
twenty (120) days after the date of such termination of such employment,
irrespective of the maturity date of this Note. Nothing in this Note shall
create any employment right or entitlement in favor of the Borrower, which
employment with the Lender shall remain "at-will."

            9. Mandatory Prepayment on Receipt of Bonus. If at any time, or from
time to time, Borrower shall receive any compensatory bonus from the Company
(including, but not limited to, cash payments, cash dividends or other
distributions), but not including payments or distributions in the form of
Lender capital stock, then the after-tax proceeds (the "Net Proceeds") from such
compensatory bonus shall be applied to the prepayment of the unpaid principal
balance plus all accrued and unpaid interest of this Note within seven (7)
calendar days after receipt thereof (the "Mandatory Prepayment Period"). If the
Lender does not receive such Net Proceeds within the Mandatory Prepayment
Period, the entire principal balance plus all accrued and unpaid interest of
this Note shall become immediately due and payable pursuant to Section 7 hereof.

            10. Mandatory Prepayment on Sale of Stock. If at any time, or from
time to time, Borrower shall receive any proceeds from the sale or other
disposition of shares of Lender capital stock now owned or hereinafter acquired
by Borrower ("Borrower Stock"), then 50% of the after-tax proceeds (the
"Borrower Stock Proceeds") of such sale or other disposition shall be applied to
the prepayment of the unpaid principal balance plus all accrued and unpaid
interest of this Note within the Mandatory Prepayment Period. If the Lender does
not receive such Borrower Stock Proceeds within the Mandatory Prepayment Period,
the entire principal balance plus all accrued and unpaid interest of this Note
shall become immediately due and payable pursuant to Section 7 hereof.

            11. Recourse. The Lender shall be entitled to recourse against the
Borrower for the payment of any principal and accrued interest of the Note or
for any claim based hereon (including costs of collection).

            12. Costs of Collection. Upon the failure of the Borrower to pay any
amount due hereunder as and when due, the Borrower shall pay on demand any
reasonable costs and expenses incurred by the holder hereof in connection with
the collection of any outstanding principal and in connection with the
enforcement of any rights or remedies provided for pursuant to this Note. If not
paid on demand, all such costs and expenses automatically shall be added to the
remaining principal balance hereunder as of the date immediately following the
date of such demand.

            13. Waiver. The Borrower hereby waives any right it might otherwise
have to require notice or acceptance by any other person of its obligations or
liabilities under this Note

                                       4
<PAGE>
which are unconditional and absolute and waives diligence, presentment, demand
of payment, protest and notice with respect to all of the obligations of the
Borrower under this Note and with respect to any action under this Note and all
other notices and demands whatsoever, except as specifically provided for in
this Note. This Note may be amended, and the observance of any term of this Note
may be waived, with (and only with) the written consent of the Lender.

            14. Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of California.

            15. Assignment or Pledge of Note. The Lender shall promptly notify
the Borrower of any endorsement, assignment, pledge or hypothecation of this
Note to a person not affiliated with the Lender. This Note may not be sold,
assigned, hypothecated, delegated or transferred by the Borrower, by operation
of law or otherwise, without prior written consent of the Lender.

            16. Loss, Mutilation, Etc. Upon notice from the holder of this Note
to the Borrower of the loss, theft, destruction or mutilation of this Note, and
upon receipt of an indemnity reasonably satisfactory to the Borrower from the
holder of this Note or, in the case of mutilation hereof, upon surrender of the
mutilated Note, the Borrower will make and deliver a new note of like tenor in
lieu of this Note.

            17. Notices. All notices and other communications required or
permitted under this Note shall be in writing and shall be personally delivered
or sent by certified first class United States mail, postage prepaid, return
receipt requested, and if mailed, shall be deemed to have been received on the
third business day after deposit in the mail, addressed to the Lender, Inktomi
Corporation, 4100 East 3rd Avenue, Foster City, California 94404, Attention:
General Counsel, or to the Borrower at the address set forth below the
Borrower's signature. Notice of any change of either party's address shall be
given by written notice in the manner set forth in this paragraph.

            18. Severability. If any provision in this Note is construed to be
invalid, illegal or unenforceable, then the remaining provisions shall not in
any way be affected thereby and shall be enforced without regard thereto.

                                       5
<PAGE>
            IN WITNESS WHEREOF, the Borrower has executed this Note on the date
first above written.

                                   BORROWER:

                                   /s/ David Peterschmidt
                                   -------------------------------------------
                                   Signature of Borrower

                                   -------------------------------------------
                                   Print or Type Name: David C. Peterschmidt

                                   -------------------------------------------
                                   Address

                                   -------------------------------------------
                                   City, State, Zip Code

                                   -------------------------------------------
                                   Telephone Number

AGREED AND ACCEPTED

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

Inktomi Corporation
4100 East 3rd Avenue
Foster City, CA 94404
<PAGE>
                                 PROMISSORY NOTE

                                   $100,000.00

                             FOSTER CITY, CALIFORNIA
                                 APRIL 11, 2002

            WHEREAS, it is the intention of Inktomi Corporation to encourage and
provide its Chief Executive Officer with an incentive to retain his investments
in its stock and to focus on growing the company. Under the current environment,
by extending credit to its Chief Executive Officer, Inktomi Corporation can
limit any negative inferences or impact to the company that may arise from its
Chief Executive Officer's sale of a significant amount of its stock to meet his
short-term cash needs due to factors beyond his individual control including his
personal lock-up on sale of stock for an extended period of time. This paragraph
is not intended to create any binding obligation.

            FOR VALUE RECEIVED, David C. Peterschmidt (the "Borrower"), hereby
promises to pay to the order of Inktomi Corporation, a Delaware corporation (or
its successor upon any sale, merger, acquisition or reorganization) (the
"Lender"), the principal sum of One Hundred Thousand Dollars ($100,000.00), in
lawful money of the United States of America, on April 11, 2004 or when earlier
required pursuant to Sections 7, 8, 9 or 10 hereof (the "Repayment Date").

            1. Interest Rate. The outstanding principal amount of this Note,
together with all accrued and unpaid interest thereon, shall bear interest at a
rate per annum equal to six percent (6%).

            2. Interest Payments. Interest payments on the Note shall be payable
in cash on the Repayment Date. Interest shall be calculated on the basis of a
year comprised of twelve (12) thirty (30) day months.

            3. No Usury. This Note is hereby expressly limited so that in no
event whatsoever, whether by reason of deferment or advancement of loan
proceeds, acceleration of maturity of the loan evidenced hereby, or otherwise,
shall the amount paid or agreed to be paid to the Lender hereunder for the loan,
use, forbearance or detention of money exceed the maximum interest rate
permitted by the laws of the State of California. If at any time the performance
of any provision involves a payment exceeding the limit of the price that may be
validly charged for the loan, use, forbearance or detention of money under
applicable law, then automatically and retroactively, ipso facto, the obligation
to be performed shall be reduced to such limit, it being the specific intent of
the Company and the Borrower that all payments under this Note are to be
credited first to interest as permitted by law, but not in excess of (i) the
agreed rate of interest hereunder, or (ii) that permitted by law, whichever is
the lesser, and the balance toward the reduction of principal.

            4. Method of Payment. All payments hereunder shall be made by cash
or check to Lender, Inktomi Corporation, 4100 East 3rd Avenue, Foster City, CA
94404, or at such other place, or by such other means, as the Lender shall
designate to the Borrower in writing. If any

                                       2
<PAGE>
payment of principal or interest on this Note is due on a day which is not a
Business Day, such payment shall be due on the next succeeding Business Day.
"Business Day" means any day other than a Saturday, Sunday or legal holiday in
the State of California.

            5. Prepayment. The Borrower shall have the right to prepay the
principal amount hereof in full or in part, together with all accrued interest
on the amount prepaid to the date of such prepayment, at any time without
penalty.

            6. Reserved.

            7. Events of Default.

                 (a) The occurrence of one or more of the following shall
constitute an event of default ("Event of Default") hereunder:

                       (i) The Borrower's failure to pay any payment of
principal or interest on the Note when due;

                       (ii) If, pursuant to or within the meaning of the United
States Bankruptcy Code or any other federal or state law relating to insolvency
or relief of debtors ("Bankruptcy Law"), the Borrower shall (a) commence a
voluntary case or proceeding, (b) consent to the entry of an order for relief
against the Borrower, in an involuntary case, (c) consent to the appointment of
a trustee, receiver, assignee, liquidator or similar official, (d) make an
assignment for the benefit of the Borrower's creditors, or (e) admit in writing
the Borrower's inability to pay Borrower's debts as they become due;

                       (iii) If a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that (a) is for relief against the
Borrower in an involuntary case, (b) appoints a trustee, receiver, assignee,
liquidator or similar official for the Borrower or substantially all of the
Borrower's properties, (c) orders the liquidation of the Borrower, and in each
case the order or decree is not dismissed within 30 days; or

                       (iv) The occurrence of an event described in Section 8
hereof, or the Borrower's failure to observe or perform any covenant or
agreement contained in this Note including, but not limited to, Sections 9 and
10 hereof;

                 (b) Upon the occurrence of an Event of Default, the principal
of this Note, together with all unpaid interest and all other amounts payable
hereunder, shall become due and payable forthwith, without presentment, demand,
notice, protest or other requirement of any kind, all of which are expressly
waived by Borrower. Upon the occurrence of an Event of Default (unless all
Events of Default have been cured or waived by Lender), Lender may, at its
option, by written notice of Borrower, declare the entire unpaid principal
balance of this Note, together with all accrued interest thereon, immediately
due and payable regardless of any prior forbearance. In either such case, Lender
may exercise any and all rights and remedies available to it under applicable
law, including, without limitation, the right to collect from Borrower all sums
due under this Note. Borrower shall pay all reasonable costs and expenses of
collection

                                       3
<PAGE>
incurred by or on behalf of Lender as a result of an Event of Default
including, without limitation, reasonable attorneys' fees.

            8. Termination of Employment. Upon the termination of the Borrower's
employment with the Lender for any reason, including, without limitation, with
or without cause, or by reason of death or disability, the entire unpaid
principal balance plus all accrued and unpaid interest of this Note, and any
other charges owing to the Lender, shall become due and payable one hundred and
twenty (120) days after the date of such termination of such employment,
irrespective of the maturity date of this Note. Nothing in this Note shall
create any employment right or entitlement in favor of the Borrower, which
employment with the Lender shall remain "at-will."

            9. Mandatory Prepayment on Receipt of Bonus. If at any time, or from
time to time, Borrower shall receive any compensatory bonus from the Company
(including, but not limited to, cash payments, cash dividends or other
distributions), but not including payments or distributions in the form of
Lender capital stock, then the after-tax proceeds (the "Net Proceeds") from such
compensatory bonus shall be applied to the prepayment of the unpaid principal
balance plus all accrued and unpaid interest of this Note within seven (7)
calendar days after receipt thereof (the "Mandatory Prepayment Period"). If the
Lender does not receive such Net Proceeds within the Mandatory Prepayment
Period, the entire principal balance plus all accrued and unpaid interest of
this Note shall become immediately due and payable pursuant to Section 7 hereof.

            10. Mandatory Prepayment on Sale of Stock. If at any time, or from
time to time, Borrower shall receive any proceeds from the sale or other
disposition of shares of Lender capital stock now owned or hereinafter acquired
by Borrower ("Borrower Stock"), then 50% of the after-tax proceeds (the
"Borrower Stock Proceeds") of such sale or other disposition shall be applied to
the prepayment of the unpaid principal balance plus all accrued and unpaid
interest of this Note within the Mandatory Prepayment Period. If the Lender does
not receive such Borrower Stock Proceeds within the Mandatory Prepayment Period,
the entire principal balance plus all accrued and unpaid interest of this Note
shall become immediately due and payable pursuant to Section 7 hereof.

            11. Recourse. The Lender shall be entitled to recourse against the
Borrower for the payment of any principal and accrued interest of the Note or
for any claim based hereon (including costs of collection).

            12. Costs of Collection. Upon the failure of the Borrower to pay any
amount due hereunder as and when due, the Borrower shall pay on demand any
reasonable costs and expenses incurred by the holder hereof in connection with
the collection of any outstanding principal and in connection with the
enforcement of any rights or remedies provided for pursuant to this Note. If not
paid on demand, all such costs and expenses automatically shall be added to the
remaining principal balance hereunder as of the date immediately following the
date of such demand.

            13. Waiver. The Borrower hereby waives any right it might otherwise
have to require notice or acceptance by any other person of its obligations or
liabilities under this Note

                                       4
<PAGE>
which are unconditional and absolute and waives diligence, presentment, demand
of payment, protest and notice with respect to all of the obligations of the
Borrower under this Note and with respect to any action under this Note and all
other notices and demands whatsoever, except as specifically provided for in
this Note. This Note may be amended, and the observance of any term of this Note
may be waived, with (and only with) the written consent of the Lender.

            14. Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of California.

            15. Assignment or Pledge of Note. The Lender shall promptly notify
the Borrower of any endorsement, assignment, pledge or hypothecation of this
Note to a person not affiliated with the Lender. This Note may not be sold,
assigned, hypothecated, delegated or transferred by the Borrower, by operation
of law or otherwise, without prior written consent of the Lender.

            16. Loss, Mutilation, Etc. Upon notice from the holder of this Note
to the Borrower of the loss, theft, destruction or mutilation of this Note, and
upon receipt of an indemnity reasonably satisfactory to the Borrower from the
holder of this Note or, in the case of mutilation hereof, upon surrender of the
mutilated Note, the Borrower will make and deliver a new note of like tenor in
lieu of this Note.

            17. Notices. All notices and other communications required or
permitted under this Note shall be in writing and shall be personally delivered
or sent by certified first class United States mail, postage prepaid, return
receipt requested, and if mailed, shall be deemed to have been received on the
third business day after deposit in the mail, addressed to the Lender, Inktomi
Corporation, 4100 East 3rd Avenue, Foster City, California 94404, Attention:
General Counsel, or to the Borrower at the address set forth below the
Borrower's signature. Notice of any change of either party's address shall be
given by written notice in the manner set forth in this paragraph.

            18. Severability. If any provision in this Note is construed to be
invalid, illegal or unenforceable, then the remaining provisions shall not in
any way be affected thereby and shall be enforced without regard thereto.

                                       5
<PAGE>
            IN WITNESS WHEREOF, the Borrower has executed this Note on the date
first above written.

                                   BORROWER:

                                   /s/ David Peterschmidt
                                   --------------------------------------------
                                   Signature of Borrower

                                   --------------------------------------------
                                   Print or Type Name: David C. Peterschmidt

                                   --------------------------------------------
                                   Address

                                   --------------------------------------------
                                   City, State, Zip Code

                                   --------------------------------------------
                                   Telephone Number

AGREED AND ACCEPTED

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

Inktomi Corporation
4100 East 3rd Avenue
Foster City, CA 94404
<PAGE>
                                 PROMISSORY NOTE

                                   $800,000.00

                             FOSTER CITY, CALIFORNIA
                                 APRIL 17, 2002

            WHEREAS, it is the intention of Inktomi Corporation to encourage and
provide its Chief Executive Officer with an incentive to retain his investments
in its stock and to focus on growing the company. Under the current environment,
by extending credit to its Chief Executive Officer, Inktomi Corporation can
limit any negative inferences or impact to the company that may arise from its
Chief Executive Officer's sale of a significant amount of its stock to meet his
short-term cash needs due to factors beyond his individual control including his
personal lock-up on sale of stock for an extended period of time. This paragraph
is not intended to create any binding obligation.

            FOR VALUE RECEIVED, David C. Peterschmidt (the "Borrower"), hereby
promises to pay to the order of Inktomi Corporation, a Delaware corporation (or
its successor upon any sale, merger, acquisition or reorganization) (the
"Lender"), the principal sum of Eight Hundred Thousand Dollars ($800,000.00), in
lawful money of the United States of America, on April 17, 2004 or when earlier
required pursuant to Sections 7, 8, 9 or 10 hereof (the "Repayment Date").

            1. Interest Rate. The outstanding principal amount of this Note,
together with all accrued and unpaid interest thereon, shall bear interest at a
rate per annum equal to six percent (6%).

            2. Interest Payments. Interest payments on the Note shall be payable
in cash on the Repayment Date. Interest shall be calculated on the basis of a
year comprised of twelve (12) thirty (30) day months.

            3. No Usury. This Note is hereby expressly limited so that in no
event whatsoever, whether by reason of deferment or advancement of loan
proceeds, acceleration of maturity of the loan evidenced hereby, or otherwise,
shall the amount paid or agreed to be paid to the Lender hereunder for the loan,
use, forbearance or detention of money exceed the maximum interest rate
permitted by the laws of the State of California. If at any time the performance
of any provision involves a payment exceeding the limit of the price that may be
validly charged for the loan, use, forbearance or detention of money under
applicable law, then automatically and retroactively, ipso facto, the obligation
to be performed shall be reduced to such limit, it being the specific intent of
the Company and the Borrower that all payments under this Note are to be
credited first to interest as permitted by law, but not in excess of (i) the
agreed rate of interest hereunder, or (ii) that permitted by law, whichever is
the lesser, and the balance toward the reduction of principal.

            4. Method of Payment. All payments hereunder shall be made by cash
or check to Lender, Inktomi Corporation, 4100 East 3rd Avenue, Foster City, CA
94404, or at such other place, or by such other means, as the Lender shall
designate to the Borrower in writing. If any

                                       2
<PAGE>
payment of principal or interest on this Note is due on a day which is not a
Business Day, such payment shall be due on the next succeeding Business Day.
"Business Day" means any day other than a Saturday, Sunday or legal holiday in
the State of California.

            5. Prepayment. The Borrower shall have the right to prepay the
principal amount hereof in full or in part, together with all accrued interest
on the amount prepaid to the date of such prepayment, at any time without
penalty.

            6. Reserved.

            7. Events of Default.

                 (a) The occurrence of one or more of the following shall
constitute an event of default ("Event of Default") hereunder:

                       (i) The Borrower's failure to pay any payment of
principal or interest on the Note when due;

                       (ii) If, pursuant to or within the meaning of the United
States Bankruptcy Code or any other federal or state law relating to insolvency
or relief of debtors ("Bankruptcy Law"), the Borrower shall (a) commence a
voluntary case or proceeding, (b) consent to the entry of an order for relief
against the Borrower, in an involuntary case, (c) consent to the appointment of
a trustee, receiver, assignee, liquidator or similar official, (d) make an
assignment for the benefit of the Borrower's creditors, or (e) admit in writing
the Borrower's inability to pay Borrower's debts as they become due;

                       (iii) If a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that (a) is for relief against the
Borrower in an involuntary case, (b) appoints a trustee, receiver, assignee,
liquidator or similar official for the Borrower or substantially all of the
Borrower's properties, (c) orders the liquidation of the Borrower, and in each
case the order or decree is not dismissed within 30 days; or

                       (iv) The occurrence of an event described in Section 8
hereof, or the Borrower's failure to observe or perform any covenant or
agreement contained in this Note including, but not limited to, Sections 9 and
10 hereof;

                 (b) Upon the occurrence of an Event of Default, the principal
of this Note, together with all unpaid interest and all other amounts payable
hereunder, shall become due and payable forthwith, without presentment, demand,
notice, protest or other requirement of any kind, all of which are expressly
waived by Borrower. Upon the occurrence of an Event of Default (unless all
Events of Default have been cured or waived by Lender), Lender may, at its
option, by written notice of Borrower, declare the entire unpaid principal
balance of this Note, together with all accrued interest thereon, immediately
due and payable regardless of any prior forbearance. In either such case, Lender
may exercise any and all rights and remedies available to it under applicable
law, including, without limitation, the right to collect from Borrower all sums
due under this Note. Borrower shall pay all reasonable costs and expenses of
collection

                                       3
<PAGE>
incurred by or on behalf of Lender as a result of an Event of Default including,
without limitation, reasonable attorneys' fees.

            8. Termination of Employment. Upon the termination of the Borrower's
employment with the Lender for any reason, including, without limitation, with
or without cause, or by reason of death or disability, the entire unpaid
principal balance plus all accrued and unpaid interest of this Note, and any
other charges owing to the Lender, shall become due and payable one hundred and
twenty (120) days after the date of such termination of such employment,
irrespective of the maturity date of this Note. Nothing in this Note shall
create any employment right or entitlement in favor of the Borrower, which
employment with the Lender shall remain "at-will."

            9. Mandatory Prepayment on Receipt of Bonus. If at any time, or from
time to time, Borrower shall receive any compensatory bonus from the Company
(including, but not limited to, cash payments, cash dividends or other
distributions), but not including payments or distributions in the form of
Lender capital stock, then the after-tax proceeds (the "Net Proceeds") from such
compensatory bonus shall be applied to the prepayment of the unpaid principal
balance plus all accrued and unpaid interest of this Note within seven (7)
calendar days after receipt thereof (the "Mandatory Prepayment Period"). If the
Lender does not receive such Net Proceeds within the Mandatory Prepayment
Period, the entire principal balance plus all accrued and unpaid interest of
this Note shall become immediately due and payable pursuant to Section 7 hereof.

            10. Mandatory Prepayment on Sale of Stock. If at any time, or from
time to time, Borrower shall receive any proceeds from the sale or other
disposition of shares of Lender capital stock now owned or hereinafter acquired
by Borrower ("Borrower Stock"), then 50% of the after-tax proceeds (the
"Borrower Stock Proceeds") of such sale or other disposition shall be applied to
the prepayment of the unpaid principal balance plus all accrued and unpaid
interest of this Note within the Mandatory Prepayment Period. If the Lender does
not receive such Borrower Stock Proceeds within the Mandatory Prepayment Period,
the entire principal balance plus all accrued and unpaid interest of this Note
shall become immediately due and payable pursuant to Section 7 hereof.

            11. Recourse. The Lender shall be entitled to recourse against the
Borrower for the payment of any principal and accrued interest of the Note or
for any claim based hereon (including costs of collection).

            12. Costs of Collection. Upon the failure of the Borrower to pay any
amount due hereunder as and when due, the Borrower shall pay on demand any
reasonable costs and expenses incurred by the holder hereof in connection with
the collection of any outstanding principal and in connection with the
enforcement of any rights or remedies provided for pursuant to this Note. If not
paid on demand, all such costs and expenses automatically shall be added to the
remaining principal balance hereunder as of the date immediately following the
date of such demand.

            13. Waiver. The Borrower hereby waives any right it might otherwise
have to require notice or acceptance by any other person of its obligations or
liabilities under this Note

                                       4
<PAGE>
which are unconditional and absolute and waives diligence, presentment, demand
of payment, protest and notice with respect to all of the obligations of the
Borrower under this Note and with respect to any action under this Note and all
other notices and demands whatsoever, except as specifically provided for in
this Note. This Note may be amended, and the observance of any term of this Note
may be waived, with (and only with) the written consent of the Lender.

            14. Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of California.

            15. Assignment or Pledge of Note. The Lender shall promptly notify
the Borrower of any endorsement, assignment, pledge or hypothecation of this
Note to a person not affiliated with the Lender. This Note may not be sold,
assigned, hypothecated, delegated or transferred by the Borrower, by operation
of law or otherwise, without prior written consent of the Lender.

            16. Loss, Mutilation, Etc. Upon notice from the holder of this Note
to the Borrower of the loss, theft, destruction or mutilation of this Note, and
upon receipt of an indemnity reasonably satisfactory to the Borrower from the
holder of this Note or, in the case of mutilation hereof, upon surrender of the
mutilated Note, the Borrower will make and deliver a new note of like tenor in
lieu of this Note.

            17. Notices. All notices and other communications required or
permitted under this Note shall be in writing and shall be personally delivered
or sent by certified first class United States mail, postage prepaid, return
receipt requested, and if mailed, shall be deemed to have been received on the
third business day after deposit in the mail, addressed to the Lender, Inktomi
Corporation, 4100 East 3rd Avenue, Foster City, California 94404, Attention:
General Counsel, or to the Borrower at the address set forth below the
Borrower's signature. Notice of any change of either party's address shall be
given by written notice in the manner set forth in this paragraph.

            18. Severability. If any provision in this Note is construed to be
invalid, illegal or unenforceable, then the remaining provisions shall not in
any way be affected thereby and shall be enforced without regard thereto.

                                       5
<PAGE>
            IN WITNESS WHEREOF, the Borrower has executed this Note on the date
first above written.

                                   BORROWER:

                                   /s/ David Peterschmidt
                                   --------------------------------------------
                                   Signature of Borrower

                                   --------------------------------------------
                                   Print or Type Name: David C. Peterschmidt

                                   --------------------------------------------
                                   Address

                                   --------------------------------------------
                                   City, State, Zip Code

                                   --------------------------------------------
                                   Telephone Number

AGREED AND ACCEPTED

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

Inktomi Corporation
4100 East 3rd Avenue
Foster City, CA 94404
<PAGE>
                                 PROMISSORY NOTE

                                   $175,000.00

                             FOSTER CITY, CALIFORNIA
                                 APRIL 22, 2002

            WHEREAS, it is the intention of Inktomi Corporation to encourage and
provide its Chief Executive Officer with an incentive to retain his investments
in its stock and to focus on growing the company. Under the current environment,
by extending credit to its Chief Executive Officer, Inktomi Corporation can
limit any negative inferences or impact to the company that may arise from its
Chief Executive Officer's sale of a significant amount of its stock to meet his
short-term cash needs due to factors beyond his individual control including his
personal lock-up on sale of stock for an extended period of time. This paragraph
is not intended to create any binding obligation.

            FOR VALUE RECEIVED, David C. Peterschmidt (the "Borrower"), hereby
promises to pay to the order of Inktomi Corporation, a Delaware corporation (or
its successor upon any sale, merger, acquisition or reorganization) (the
"Lender"), the principal sum of One Hundred Seventy Five Thousand Dollars
($175,000.00), in lawful money of the United States of America, on April 22,
2004 or when earlier required pursuant to Sections 7, 8, 9 or 10 hereof (the
"Repayment Date").

            1. Interest Rate. The outstanding principal amount of this Note,
together with all accrued and unpaid interest thereon, shall bear interest at a
rate per annum equal to six percent (6%).

            2. Interest Payments. Interest payments on the Note shall be payable
in cash on the Repayment Date. Interest shall be calculated on the basis of a
year comprised of twelve (12) thirty (30) day months.

            3. No Usury. This Note is hereby expressly limited so that in no
event whatsoever, whether by reason of deferment or advancement of loan
proceeds, acceleration of maturity of the loan evidenced hereby, or otherwise,
shall the amount paid or agreed to be paid to the Lender hereunder for the loan,
use, forbearance or detention of money exceed the maximum interest rate
permitted by the laws of the State of California. If at any time the performance
of any provision involves a payment exceeding the limit of the price that may be
validly charged for the loan, use, forbearance or detention of money under
applicable law, then automatically and retroactively, ipso facto, the obligation
to be performed shall be reduced to such limit, it being the specific intent of
the Company and the Borrower that all payments under this Note are to be
credited first to interest as permitted by law, but not in excess of (i) the
agreed rate of interest hereunder, or (ii) that permitted by law, whichever is
the lesser, and the balance toward the reduction of principal.

            4. Method of Payment. All payments hereunder shall be made by cash
or check to Lender, Inktomi Corporation, 4100 East 3rd Avenue, Foster City, CA
94404, or at such other place, or by such other means, as the Lender shall
designate to the Borrower in writing. If any

                                       2
<PAGE>
payment of principal or interest on this Note is due on a day which is not a
Business Day, such payment shall be due on the next succeeding Business Day.
"Business Day" means any day other than a Saturday, Sunday or legal holiday in
the State of California.

            5. Prepayment. The Borrower shall have the right to prepay the
principal amount hereof in full or in part, together with all accrued interest
on the amount prepaid to the date of such prepayment, at any time without
penalty.

            6. Reserved.

            7. Events of Default.

                 (a) The occurrence of one or more of the following shall
constitute an event of default ("Event of Default") hereunder:

                       (i) The Borrower's failure to pay any payment of
principal or interest on the Note when due;

                       (ii) If, pursuant to or within the meaning of the United
States Bankruptcy Code or any other federal or state law relating to insolvency
or relief of debtors ("Bankruptcy Law"), the Borrower shall (a) commence a
voluntary case or proceeding, (b) consent to the entry of an order for relief
against the Borrower, in an involuntary case, (c) consent to the appointment of
a trustee, receiver, assignee, liquidator or similar official, (d) make an
assignment for the benefit of the Borrower's creditors, or (e) admit in writing
the Borrower's inability to pay Borrower's debts as they become due;

                       (iii) If a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that (a) is for relief against the
Borrower in an involuntary case, (b) appoints a trustee, receiver, assignee,
liquidator or similar official for the Borrower or substantially all of the
Borrower's properties, (c) orders the liquidation of the Borrower, and in each
case the order or decree is not dismissed within 30 days; or

                       (iv) The occurrence of an event described in Section 8
hereof, or the Borrower's failure to observe or perform any covenant or
agreement contained in this Note including, but not limited to, Sections 9 and
10 hereof;

                 (b) Upon the occurrence of an Event of Default, the principal
of this Note, together with all unpaid interest and all other amounts payable
hereunder, shall become due and payable forthwith, without presentment, demand,
notice, protest or other requirement of any kind, all of which are expressly
waived by Borrower. Upon the occurrence of an Event of Default (unless all
Events of Default have been cured or waived by Lender), Lender may, at its
option, by written notice of Borrower, declare the entire unpaid principal
balance of this Note, together with all accrued interest thereon, immediately
due and payable regardless of any prior forbearance. In either such case, Lender
may exercise any and all rights and remedies available to it under applicable
law, including, without limitation, the right to collect from Borrower all sums
due under this Note. Borrower shall pay all reasonable costs and expenses of
collection

                                       3
<PAGE>
incurred by or on behalf of Lender as a result of an Event of Default including,
without limitation, reasonable attorneys' fees.

            8. Termination of Employment. Upon the termination of the Borrower's
employment with the Lender for any reason, including, without limitation, with
or without cause, or by reason of death or disability, the entire unpaid
principal balance plus all accrued and unpaid interest of this Note, and any
other charges owing to the Lender, shall become due and payable one hundred and
twenty (120) days after the date of such termination of such employment,
irrespective of the maturity date of this Note. Nothing in this Note shall
create any employment right or entitlement in favor of the Borrower, which
employment with the Lender shall remain "at-will."

            9. Mandatory Prepayment on Receipt of Bonus. If at any time, or from
time to time, Borrower shall receive any compensatory bonus from the Company
(including, but not limited to, cash payments, cash dividends or other
distributions), but not including payments or distributions in the form of
Lender capital stock, then the after-tax proceeds (the "Net Proceeds") from such
compensatory bonus shall be applied to the prepayment of the unpaid principal
balance plus all accrued and unpaid interest of this Note within seven (7)
calendar days after receipt thereof (the "Mandatory Prepayment Period"). If the
Lender does not receive such Net Proceeds within the Mandatory Prepayment
Period, the entire principal balance plus all accrued and unpaid interest of
this Note shall become immediately due and payable pursuant to Section 7 hereof.

            10. Mandatory Prepayment on Sale of Stock. If at any time, or from
time to time, Borrower shall receive any proceeds from the sale or other
disposition of shares of Lender capital stock now owned or hereinafter acquired
by Borrower ("Borrower Stock"), then 50% of the after-tax proceeds (the
"Borrower Stock Proceeds") of such sale or other disposition shall be applied to
the prepayment of the unpaid principal balance plus all accrued and unpaid
interest of this Note within the Mandatory Prepayment Period. If the Lender does
not receive such Borrower Stock Proceeds within the Mandatory Prepayment Period,
the entire principal balance plus all accrued and unpaid interest of this Note
shall become immediately due and payable pursuant to Section 7 hereof.

            11. Recourse. The Lender shall be entitled to recourse against the
Borrower for the payment of any principal and accrued interest of the Note or
for any claim based hereon (including costs of collection).

            12. Costs of Collection. Upon the failure of the Borrower to pay any
amount due hereunder as and when due, the Borrower shall pay on demand any
reasonable costs and expenses incurred by the holder hereof in connection with
the collection of any outstanding principal and in connection with the
enforcement of any rights or remedies provided for pursuant to this Note. If not
paid on demand, all such costs and expenses automatically shall be added to the
remaining principal balance hereunder as of the date immediately following the
date of such demand.

            13. Waiver. The Borrower hereby waives any right it might otherwise
have to require notice or acceptance by any other person of its obligations or
liabilities under this Note

                                       4
<PAGE>
which are unconditional and absolute and waives diligence, presentment, demand
of payment, protest and notice with respect to all of the obligations of the
Borrower under this Note and with respect to any action under this Note and all
other notices and demands whatsoever, except as specifically provided for in
this Note. This Note may be amended, and the observance of any term of this Note
may be waived, with (and only with) the written consent of the Lender.

            14. Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of California.

            15. Assignment or Pledge of Note. The Lender shall promptly notify
the Borrower of any endorsement, assignment, pledge or hypothecation of this
Note to a person not affiliated with the Lender. This Note may not be sold,
assigned, hypothecated, delegated or transferred by the Borrower, by operation
of law or otherwise, without prior written consent of the Lender.

            16. Loss, Mutilation, Etc. Upon notice from the holder of this Note
to the Borrower of the loss, theft, destruction or mutilation of this Note, and
upon receipt of an indemnity reasonably satisfactory to the Borrower from the
holder of this Note or, in the case of mutilation hereof, upon surrender of the
mutilated Note, the Borrower will make and deliver a new note of like tenor in
lieu of this Note.

            17. Notices. All notices and other communications required or
permitted under this Note shall be in writing and shall be personally delivered
or sent by certified first class United States mail, postage prepaid, return
receipt requested, and if mailed, shall be deemed to have been received on the
third business day after deposit in the mail, addressed to the Lender, Inktomi
Corporation, 4100 East 3rd Avenue, Foster City, California 94404, Attention:
General Counsel, or to the Borrower at the address set forth below the
Borrower's signature. Notice of any change of either party's address shall be
given by written notice in the manner set forth in this paragraph.

            18. Severability. If any provision in this Note is construed to be
invalid, illegal or unenforceable, then the remaining provisions shall not in
any way be affected thereby and shall be enforced without regard thereto.

                                       5
<PAGE>
            IN WITNESS WHEREOF, the Borrower has executed this Note on the date
first above written.

                                   BORROWER:

                                   /s/ David Peterschmidt
                                   --------------------------------------------
                                   Signature of Borrower

                                   --------------------------------------------
                                   Print or Type Name: David C. Peterschmidt

                                   --------------------------------------------
                                   Address

                                   --------------------------------------------
                                   City, State, Zip Code

                                   --------------------------------------------
                                   Telephone Number

AGREED AND ACCEPTED

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

Inktomi Corporation
4100 East 3rd Avenue
Foster City, CA 94404
<PAGE>
                                 PROMISSORY NOTE

                                   $400,000.00

                             FOSTER CITY, CALIFORNIA
                                 APRIL 29, 2002

            WHEREAS, it is the intention of Inktomi Corporation to encourage and
provide its Chief Executive Officer with an incentive to retain his investments
in its stock and to focus on growing the company. Under the current environment,
by extending credit to its Chief Executive Officer, Inktomi Corporation can
limit any negative inferences or impact to the company that may arise from its
Chief Executive Officer's sale of a significant amount of its stock to meet his
short-term cash needs due to factors beyond his individual control including his
personal lock-up on sale of stock for an extended period of time. This paragraph
is not intended to create any binding obligation.

            FOR VALUE RECEIVED, David C. Peterschmidt (the "Borrower"), hereby
promises to pay to the order of Inktomi Corporation, a Delaware corporation (or
its successor upon any sale, merger, acquisition or reorganization) (the
"Lender"), the principal sum of Four Hundred Thousand Dollars ($400,000.00), in
lawful money of the United States of America, on April 29, 2004 or when earlier
required pursuant to Sections 7, 8, 9 or 10 hereof (the "Repayment Date").

            1. Interest Rate. The outstanding principal amount of this Note,
together with all accrued and unpaid interest thereon, shall bear interest at a
rate per annum equal to six percent (6%).

            2. Interest Payments. Interest payments on the Note shall be payable
in cash on the Repayment Date. Interest shall be calculated on the basis of a
year comprised of twelve (12) thirty (30) day months.

            3. No Usury. This Note is hereby expressly limited so that in no
event whatsoever, whether by reason of deferment or advancement of loan
proceeds, acceleration of maturity of the loan evidenced hereby, or otherwise,
shall the amount paid or agreed to be paid to the Lender hereunder for the loan,
use, forbearance or detention of money exceed the maximum interest rate
permitted by the laws of the State of California. If at any time the performance
of any provision involves a payment exceeding the limit of the price that may be
validly charged for the loan, use, forbearance or detention of money under
applicable law, then automatically and retroactively, ipso facto, the obligation
to be performed shall be reduced to such limit, it being the specific intent of
the Company and the Borrower that all payments under this Note are to be
credited first to interest as permitted by law, but not in excess of (i) the
agreed rate of interest hereunder, or (ii) that permitted by law, whichever is
the lesser, and the balance toward the reduction of principal.

            4. Method of Payment. All payments hereunder shall be made by cash
or check to Lender, Inktomi Corporation, 4100 East 3rd Avenue, Foster City, CA
94404, or at such other place, or by such other means, as the Lender shall
designate to the Borrower in writing. If any

                                       2
<PAGE>
payment of principal or interest on this Note is due on a day which is not a
Business Day, such payment shall be due on the next succeeding Business Day.
"Business Day" means any day other than a Saturday, Sunday or legal holiday in
the State of California.

            5. Prepayment. The Borrower shall have the right to prepay the
principal amount hereof in full or in part, together with all accrued interest
on the amount prepaid to the date of such prepayment, at any time without
penalty.

            6. Reserved.

            7. Events of Default.

                 (a) The occurrence of one or more of the following shall
constitute an event of default ("Event of Default") hereunder:

                       (i) The Borrower's failure to pay any payment of
principal or interest on the Note when due;

                       (ii) If, pursuant to or within the meaning of the United
States Bankruptcy Code or any other federal or state law relating to insolvency
or relief of debtors ("Bankruptcy Law"), the Borrower shall (a) commence a
voluntary case or proceeding, (b) consent to the entry of an order for relief
against the Borrower, in an involuntary case, (c) consent to the appointment of
a trustee, receiver, assignee, liquidator or similar official, (d) make an
assignment for the benefit of the Borrower's creditors, or (e) admit in writing
the Borrower's inability to pay Borrower's debts as they become due;

                       (iii) If a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that (a) is for relief against the
Borrower in an involuntary case, (b) appoints a trustee, receiver, assignee,
liquidator or similar official for the Borrower or substantially all of the
Borrower's properties, (c) orders the liquidation of the Borrower, and in each
case the order or decree is not dismissed within 30 days; or

                       (iv) The occurrence of an event described in Section 8
hereof, or the Borrower's failure to observe or perform any covenant or
agreement contained in this Note including, but not limited to, Sections 9 and
10 hereof;

                 (b) Upon the occurrence of an Event of Default, the principal
of this Note, together with all unpaid interest and all other amounts payable
hereunder, shall become due and payable forthwith, without presentment, demand,
notice, protest or other requirement of any kind, all of which are expressly
waived by Borrower. Upon the occurrence of an Event of Default (unless all
Events of Default have been cured or waived by Lender), Lender may, at its
option, by written notice of Borrower, declare the entire unpaid principal
balance of this Note, together with all accrued interest thereon, immediately
due and payable regardless of any prior forbearance. In either such case, Lender
may exercise any and all rights and remedies available to it under applicable
law, including, without limitation, the right to collect from Borrower all sums
due under this Note. Borrower shall pay all reasonable costs and expenses of
collection

                                       3

<PAGE>
incurred by or on behalf of Lender as a result of an Event of Default including,
without limitation, reasonable attorneys' fees.

            8. Termination of Employment. Upon the termination of the Borrower's
employment with the Lender for any reason, including, without limitation, with
or without cause, or by reason of death or disability, the entire unpaid
principal balance plus all accrued and unpaid interest of this Note, and any
other charges owing to the Lender, shall become due and payable one hundred and
twenty (120) days after the date of such termination of such employment,
irrespective of the maturity date of this Note. Nothing in this Note shall
create any employment right or entitlement in favor of the Borrower, which
employment with the Lender shall remain "at-will."

            9. Mandatory Prepayment on Receipt of Bonus. If at any time, or from
time to time, Borrower shall receive any compensatory bonus from the Company
(including, but not limited to, cash payments, cash dividends or other
distributions), but not including payments or distributions in the form of
Lender capital stock, then the after-tax proceeds (the "Net Proceeds") from such
compensatory bonus shall be applied to the prepayment of the unpaid principal
balance plus all accrued and unpaid interest of this Note within seven (7)
calendar days after receipt thereof (the "Mandatory Prepayment Period"). If the
Lender does not receive such Net Proceeds within the Mandatory Prepayment
Period, the entire principal balance plus all accrued and unpaid interest of
this Note shall become immediately due and payable pursuant to Section 7 hereof.

            10. Mandatory Prepayment on Sale of Stock. If at any time, or from
time to time, Borrower shall receive any proceeds from the sale or other
disposition of shares of Lender capital stock now owned or hereinafter acquired
by Borrower ("Borrower Stock"), then 50% of the after-tax proceeds (the
"Borrower Stock Proceeds") of such sale or other disposition shall be applied to
the prepayment of the unpaid principal balance plus all accrued and unpaid
interest of this Note within the Mandatory Prepayment Period. If the Lender does
not receive such Borrower Stock Proceeds within the Mandatory Prepayment Period,
the entire principal balance plus all accrued and unpaid interest of this Note
shall become immediately due and payable pursuant to Section 7 hereof.

            11. Recourse. The Lender shall be entitled to recourse against the
Borrower for the payment of any principal and accrued interest of the Note or
for any claim based hereon (including costs of collection).

            12. Costs of Collection. Upon the failure of the Borrower to pay any
amount due hereunder as and when due, the Borrower shall pay on demand any
reasonable costs and expenses incurred by the holder hereof in connection with
the collection of any outstanding principal and in connection with the
enforcement of any rights or remedies provided for pursuant to this Note. If not
paid on demand, all such costs and expenses automatically shall be added to the
remaining principal balance hereunder as of the date immediately following the
date of such demand.

            13. Waiver. The Borrower hereby waives any right it might otherwise
have to require notice or acceptance by any other person of its obligations or
liabilities under this Note

                                       4
<PAGE>
which are unconditional and absolute and waives diligence, presentment, demand
of payment, protest and notice with respect to all of the obligations of the
Borrower under this Note and with respect to any action under this Note and all
other notices and demands whatsoever, except as specifically provided for in
this Note. This Note may be amended, and the observance of any term of this Note
may be waived, with (and only with) the written consent of the Lender.

            14. Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of California.

            15. Assignment or Pledge of Note. The Lender shall promptly notify
the Borrower of any endorsement, assignment, pledge or hypothecation of this
Note to a person not affiliated with the Lender. This Note may not be sold,
assigned, hypothecated, delegated or transferred by the Borrower, by operation
of law or otherwise, without prior written consent of the Lender.

            16. Loss, Mutilation, Etc. Upon notice from the holder of this Note
to the Borrower of the loss, theft, destruction or mutilation of this Note, and
upon receipt of an indemnity reasonably satisfactory to the Borrower from the
holder of this Note or, in the case of mutilation hereof, upon surrender of the
mutilated Note, the Borrower will make and deliver a new note of like tenor in
lieu of this Note.

            17. Notices. All notices and other communications required or
permitted under this Note shall be in writing and shall be personally delivered
or sent by certified first class United States mail, postage prepaid, return
receipt requested, and if mailed, shall be deemed to have been received on the
third business day after deposit in the mail, addressed to the Lender, Inktomi
Corporation, 4100 East 3rd Avenue, Foster City, California 94404, Attention:
General Counsel, or to the Borrower at the address set forth below the
Borrower's signature. Notice of any change of either party's address shall be
given by written notice in the manner set forth in this paragraph.

            18. Severability. If any provision in this Note is construed to be
invalid, illegal or unenforceable, then the remaining provisions shall not in
any way be affected thereby and shall be enforced without regard thereto.

                                       5
<PAGE>
            IN WITNESS WHEREOF, the Borrower has executed this Note on the date
first above written.

                                   BORROWER:

                                   /s/ David Peterschmidt
                                   --------------------------------------------
                                   Signature of Borrower

                                   --------------------------------------------
                                   Print or Type Name: David C. Peterschmidt

                                   --------------------------------------------
                                   Address

                                   --------------------------------------------
                                   City, State, Zip Code

                                   --------------------------------------------
                                   Telephone Number

AGREED AND ACCEPTED

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

Inktomi Corporation
4100 East 3rd Avenue
Foster City, CA 94404

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