Document:

<PAGE>

                                                                     EXHIBIT 4.4

     THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT
     BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE WARRANT
     AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF MAY NOT BE SOLD, OFFERED
     FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT
     TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS
     AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT
     REGISTRATION IS NOT REQUIRED UNDER SUCH ACT.

                               LogicVision, Inc.
                   WARRANT TO PURCHASE SHARES OF COMMON STOCK

                                             Right to Purchase            shares
                                                              of Common Stock of
No. X-                                                         LogicVision, Inc.

       This Warrant is issued to                                   ("Holder") by
LogicVision, Inc., a California corporation (the "Company'), in connection with
Section     of that certain Securities Purchase Agreement (the "Securities
Purchase Agreement") dated as of December    , 1998.

       1.  Purchase of Shares. Subject to the terms and conditions hereinafter
           ------------------
set forth, Holder is entitled, upon surrender of this Warrant at the principal
office of the Company (or at such other place as the Company shall notify Holder
in writing), to purchase from the Company up to      shares (the "Shares"of
Common Stock of the Company, no par value (the "Common Stock'), at an exercise
price of $0.50 per share (the "Exercise Price"). The Shares and the Exercise
Price shall be subject to adjustment as set forth in Section 8 hereof.

       2.  Exercise Period.
           ---------------
           (a) Subject to the terms and conditions hereinafter set forth, this
Warrant shall be exercisable for a period (the "Exercise Period') of ten (10)
years from the date specified in Section 2(b) hereof, provided, however, that in
the event of the closing of (a) the issuance and sale of shares of the Common
Stock in the Company's first underwritten public offering (the "IPO") pursuant
to an effective registration statement under the Securities Act of 1933, as
amended, (b) a sale of all or substantially all the assets of the Company, or
(c) a merger or reorganization of the Company into or consolidation with any
other entity (excluding a reorganization or merger, the sole purpose of which is
to change the jurisdiction of incorporation of the Company), this Warrant shall,
on the date of such event, no longer be exercisable and become null and void. In
the event of a proposed transaction of the kind described above, the Company
shall notify. Holder in writing at least fifteen (15) days prior to the
consummation of such event or transaction. However, if the Holder has sent a
Notice of Exercise on or before the expiration of the Exercise Period and the
Holder is prevented from exercising the Warrant on or
<PAGE>

before the end of the Exercise Period due to any applicable waiting periods
imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR
Act Restrictions"), the Holder may complete the process of exercising the
Warrant, for a period of ten (10) days following termination of the HSR Act
Restrictions.

           (b)  If the Company does not recognize gross revenues of at least
$14,000,000 during Fiscal Year 1999 (January 1, 1999 -- December 31, 1999), this
Warrant will become exercisable on the terms contained in Section 2(a) hereof
beginning on December 31, 1999. If, however, the Company does recognize gross
revenues of at least $14,000,000 in Fiscal Year 1999, this Warrant will
terminate and be of no further effect, effective December 31, 1999. For purposes
of this Section 2(b), gross revenues will be determined from the Company's
audited financial statements for the year ending December 31, 1999. If the
Warrant has already been exercised into shares of Common Stock, and the Company
does recognize such revenues, the Company shall cancel such shares in their
entirety and the Holder agrees that such cancellation is permitted.

       3.  Method of Exercise.  While this Warrant remains outstanding and
           ------------------
exercisable in accordance with Section 2 above, Holder may exercise, in whole or
in part and on one or more occasions at the election of the Holder, the purchase
rights evidenced hereby. Such exercise shall be effected by:

           (a)  the surrender of the Warrant, together with a duly executed copy
of the form of Exercise Notice attached hereto, to the Secretary of the Company
at its principal offices; and

           (b)  except as set forth in Section 4 below, the payment to the
Company by cash, check, shares of the Company's capital stock, cancellation of
indebtedness, wire transfer or a combination thereof, of an amount equal to the
aggregate Exercise Price for the number of Shares being purchased.

       4.  Net Exercise. In lieu of the consideration set forth in Section 3(b)
           ------------
above for the exercise of this Warrant, Holder may elect to receive shares of
Common Stock equal to the value of this Warrant (or the portion thereof being
exercised) by surrender of this Warrant at the principal office of the Company
together with notice of such election, in which event the Company shall issue to
Holder a number of shares of Common Stock computed using the following formula:

                                X = Y (A - B)
                                    ---------
                                         A

Where

         X    =  The number of shares of Common Stock to be issued to Holder.
         Y    =  The number of shares of Common Stock as to which this Warrant
                 is to be exercised (as adjusted to the date of such
                 calculation).
         A    =  The fair market value of one share of the Company's Common
                 Stock (as determined below).
         B    =  The Exercise Price (as adjusted to the date of such
                 calculations).

                                       2.
<PAGE>

          For purposes of this Section 4, the fair market value of one share of
the Common Stock as of a specified date shall mean:

               (a)  if this Warrant is exercised contemporaneously with the
closing of the Company's IPO, the fair market value of the Common Stock shall
mean the price to the public specified in the Company's final prospectus for
such IPO; and

               (b)  if this Warrant is exercised other than in connection with
the Company's IPO, the fair market value of the Common Stock shall mean (x) if
the Common Stock is listed or traded on a securities exchange or over the
counter market, the arithmetic average of the closing price of the Common Stock
on the principal securities exchange on which such securities are listed or
quoted (or the arithmetic average of the closing bid and ask prices, if traded
over the counter), over a period of five consecutive Business Days ending on the
day on which the current fair market value is to be determined (or if such day
is not a business day, the business day next preceding such day), or (y) if the
Common Stock is not so listed, the highest price per share which the Company
could then obtain from a willing buyer (not a current employee or director of
the Company) for such Common Stock sold by the Company, from authorized but
unissued shares, as determined in good faith by the Board of Directors of the
Company, provided that if prior to such date the Company has become subject to a
merger, acquisition or consolidation pursuant to which the Company is not or
will not be the surviving party, the current fair market value of one share of
Common Stock shall be deemed to be the value received or to be received by the
holders of the shares of such Common Stock for each share of Common Stock
pursuant to such merger, acquisition or consolidation.

          5.   Same Day Exercise and Sale. In lieu of exercising the Warrant as
               --------------------------
set forth in Sections 3 and 4 hereof, when permitted by law and applicable
regulations (including Nasdaq and NASD rules), the Holder may pay the Exercise
Price through a "same day sale" commitment from the Holder (and if applicable a
broker-dealer that is a member of the National Association of Securities Dealers
(a "NASD Dealer")), whereby the Holder may irrevocably elect to exercise all or
any portion of this Warrant and to sell a portion of the Shares so purchased to
pay the Exercise Price and the Holder (or, if applicable, the NASD Dealer) would
commit upon sale (or, in the case of the NASD Dealer, upon receipt) of such
Shares to forward the Exercise Price directly to the Company.

          6.   Certificates for Shares. Upon the exercise of the purchase rights
               -----------------------
evidenced by this Warrant, one or more certificates for the number of Shares so
purchased shall be issued as soon as practicable thereafter, and in any event
within fifteen (15) days of the delivery of the Exercise Notice. Upon any
partial exercise of this Warrant, the Company will forthwith issue and deliver
to Holder a new warrant or warrants of like tenor as this Warrant for the
remaining portion of the Common Stock for which this Warrant may still be
exercised.

          7.   Issuance of Shares. The Company covenants that (a) the Shares,
               ------------------
when issued pursuant to the exercise of this Warrant, will be duly and validly
issued, fully-paid and non-assessable and free from all taxes, hens, and charges
with respect to the issuance thereof (except for any applicable transfer taxes,
which shall be paid by Holder) and (b) during the Exercise Period, the Company
will reserve from its authorized and unissued Common Stock a

                                       3.
<PAGE>

sufficient number of shares to provide for the issuance of Common Stock upon
the exercise of this Warrant.

      8.  Adjustment of Exercise Price and Number of Shares. The number of and
          -------------------------------------------------
kind of securities purchasable upon exercise of this Warrant and the Exercise
Price shall be subject to adjustment from time to time as follows:

          (a)  Subdivisions, Combinations and Other Issuances. If the Company
               ----------------------------------------------
shall at any time prior to the expiration of this Warrant subdivide its Common
Stock, by split-up or otherwise, or combine its capital stock, or issue
additional securities as a dividend with respect to any shares of its Common
Stock, the number of Shares issuable on the exercise of this Warrant shall
forthwith be proportionately increased in the case of a subdivision or stock
dividend, or proportionately decreased in the case of a combination. Appropriate
adjustments shall also be made to the Exercise Price payable per share, but the
aggregate purchase price payable for the total number of Shares purchasable
under this Warrant (as adjusted) shall remain the same. Any adjustment under
this Section 8(a) shall become effective at the close of business on the date
the subdivision or combination becomes effective, or as of the record date of
such dividend, or in the event that no record date is fixed, upon the making of
such dividend.

          (b)  Reclassification, Reorganization, Merger or Sale.  In case of any
               ------------------------------------------------
reclassification, capital reorganization, change in the capital stock of the
Company (other than as a result of a subdivision, combination or stock dividend
provided for in Section 8(a) above) or any consolidation or merger of the
Company with another corporation, or the sale of all or substantially all of its
assets to another corporation effected in such a way that holders of stock shall
be entitled to receive stock, securities or assets with respect to or in
exchange for stock, then, as a condition of such reclassification,
reorganization, change, merger or sale, lawful provision shall be made, and duly
executed documents evidencing the same from the Company or its successor shall
be delivered to the holder of this Warrant, so that the holder of this Warrant
shall have the right at any time prior to the expiration of this Warrant to
purchase, at a total price equal to that payable upon the exercise of this
Warrant, the kind and amount of shares of stock and other securities and
property receivable in connection with such reclassification, reorganization,
change, merger or sale, by a holder of the same number of shares of capital
stock as were purchasable by the Holder immediately prior to such
reclassification, reorganization, change, merger or sale. In any such case
appropriate provisions shall be made with respect to the rights and interest of
the Holder so that the provisions hereof shall thereafter be applicable with
respect to any shares of stock or other securities and property deliverable upon
exercise hereof, and appropriate adjustments shall be made to the Exercise Price
per share payable hereunder, provided the aggregate purchase price shall remain
the same.

          (c)  Certificate of Adjustment.  When any adjustment is required to be
               -------------------------
made in the number or kind of shares purchasable upon exercise of the Warrant or
in the Exercise Price, an officer of the Company shall promptly compute such
adjustment in accordance with the terms of this Warrant and prepare a
certificate setting forth, in reasonable detail, the event requiring the
adjustment, the amount of the adjustment, the method by which such adjustment
was calculated and the Exercise Price and number of shares purchasable hereunder
after giving effect to such adjustment, and shall cause a copy of such
certificate to be mailed (by first class mail, postage prepaid) to Holder.

                                       4.
<PAGE>

            9.  Compliance with Securities Laws. Holder hereby represents and
                -------------------------------
warrants that:

                (a)  Purchase Entirely for Own Account. This Warrant and the
                     ---------------------------------
Common Stock issuable upon exercise hereof (collectively, the "Securities") will
be acquired for investment for Holder's own account, not as a nominee or agent,
and not with a view to the resale or distribution of any part thereof, and
Holder has no present intention of selling, granting any participation in, or
otherwise distributing the same. Holder does not have any contract, undertaking,
agreement, or arrangement with any person to sell, transfer, or grant
participation to any person with respect to any of the Securities. Holder
represents that it has full power and authority to enter into this Warrant.

               (b)  Investment Experience. Holder acknowledges that it is able
                    ---------------------
to fend for itself, can bear the economic risk of its investment, and has such
knowledge and experience in financial or business matters that it is capable of
evaluating the merits and risks of the investment in this Warrant. Holder also
represents it has not been organized for the purpose of acquiring this Warrant.

               (c)  Accredited Investor. Holder is an "accredited investor"
                    -------------------
within the meaning of Rule 501 of Regulation D of the Securities and Exchange
Commission (the "SEC"), as presently in effect .

               (d)  Restricted Securities.  Holder understands that the
                    ---------------------
Securities are characterized as "restricted securities" under the federal
securities laws inasmuch as they are being acquired from the Company in a
transaction not involving a public offering, and that under such laws and
applicable regulations such securities may be resold without registration under
the Act only in certain limited circumstances. In this connection, Holder
represents that it is familiar with SEC Rule 144 promulgated under the Act, as
presently in effect, and understands the resale limitations imposed thereby and
by the Act.

               (e)  Further Limitations on Disposition. Without in any way
                    ----------------------------------
limiting the representations set forth above, Holder further agrees not to make
any disposition of all or any portion of the Securities unless and until there
is then in effect a registration statement under the Act covering such proposed
disposition and such disposition is made in accordance with such Registration
Statement, or (i) Holder shall have notified the Company of the proposed
disposition and shall have furnished the Company with a detailed statement of
the circumstances surrounding the proposed disposition, and (ii) if reasonably
requested by the Company, Holder shall have furnished the Company with an
opinion of counsel, reasonably satisfactory to the Company, that such
disposition will not require registration of such shares under the Act.

          10.  No Fractional Shares or Scrip. No fractional shares or scrip
               -----------------------------
representing fractional shares shall be issued upon the exercise of this
Warrant, but in lieu of such fractional shares the Company shall make a cash
payment therefor on the basis of the fair market value of the Company's Common
Stock as determined in accordance with Section 4 above.

          11.  No Shareholder Rights. Prior to exercise of this Warrant, Holder
               ---------------------
shall not be entitled to any rights of a shareholder with respect to the Shares,
including (without

                                       5.
<PAGE>

limitation) the right to vote such Shares, receive dividends or other
distributions thereon, exercise preemptive. rights or be notified of shareholder
meetings, and Holder, as such, shall not be entitled to any notice or other
communication concerning the business or affairs of the Company, except as set
forth in Section 2 above.

          12. Replacement of Warrant. On receipt of evidence reasonably
              ----------------------
satisfactory to the Company of the loss, theft, destruction, or mutilation of
this Warrant and, in the case of loss, theft, or destruction, on delivery of an
indemnity agreement reasonably satisfactory in form and substance to the Company
or, in the case of mutilation, on surrender and cancellation of this Warrant,
the Company at its expense shall execute and deliver, in lieu of this Warrant, a
new warrant of like tenor and amount.

          13. Notices. All notices or other communications hereunder shall be in
              -------
writing and shall be deemed given when (i) personally delivered, (ii) three days
after being sent by prepaid certified or registered U.S. mail, or one day after
being sent, if sent by nationally recognized overnight courier, to the address
of the party to be noticed as set forth herein or such other address as such
party last provided to the other by written notice, or (iii) upon receipt of
electronic confirmation, if by facsimile. All notices shall be sent to the
addresses and facsimile numbers set forth below or such other address as may be
given from time to time under the terms of this notice provision:

              If to the Company:

              LOGICVISION, INC
              101 Metro Drive, 3rd Floor
              San Jose, California 95110
              (f) (408) 467-1180
              (t) (408) 453-0146
              Attention:  President

              If to Holder:

              At the address and facsimile number
              indicated on the signature page hereof.

          14. Successors and Assigns. The terms and provisions of this Warrant
              ----------------------
and the Purchase Agreement shall inure to the benefit of, and be binding upon,
the Company, its successors and assigns. Subject to applicable securities laws,
this Warrant may be transferred in whole or in part by Holder.

          15. Amendments and Waivers. Any term of this Warrant may be amended
              ----------------------
and the observance of any term of this Warrant may be waived (either generally
or in a particular instance and either retroactively or prospectively), may be
waived in accordance with the terms and procedures set forth in Article 20 of
the Securities Purchase Agreement. Any waiver or amendment effected in
accordance with this Section shall be binding upon Holder and the Company.

                                       6.
<PAGE>

          16. Governing Law. This Warrant shall be governed by the laws of the
              -------------
State of California as applied to agreements among California residents made and
to be performed entirely within the State of California.

          17. Market Stand-off Provision. Holder and its successors and assigns
              --------------------------
hereby agree that, during the period of duration (not to exceed 180 days)
specified by the Company and an underwriter of Common Stock or other securities
of the Company, following the effective date of any registered underwritten
public offering of Company securities, it shall not, to the extent requested by
the Company and such underwriter, directly or indirectly sell, offer to sell,
contract to sell (including, without limitation, any short sale), grant any
option to purchase or otherwise transfer or dispose of (other than to donees who
agree to be similarly bound) any securities of the Company held by it at any
time during such period except Common Stock included in such registration;
provided, however, that all officers and directors of the Company, and all
holders of at least five percent of the Company's outstanding securities enter
into similar agreements.

          In order to enforce the foregoing covenant, the Company may impose
stop-transfer instructions with respect to the Company's securities held by such
holder (and the shares or securities of every other person subject to the
foregoing restriction) until the end of such period.

          18. Reservation of Common Stock. The Company shall at all times
              ---------------------------
reserve and keep available out of its authorized but unissued shares of Common
Stock, solely for the purpose of effecting the exercise of this Warrant such
number of its shares of Common Stock as shall from time to time be sufficient to
effect the exercise of this Warrant; and if at any time the number of authorized
but unissued shares of Common Stock shall not be sufficient to effect the
exercise of the entire Warrant, in addition to such other remedies as shall be
available to the holder of this Warrant, the Company will use its reasonable
best efforts to take such corporate action as may, in the opinion of its
counsel, be necessary to increase its authorized but unissued shares of Common
Stock to such number of shares as shall be sufficient for such purposes.

                    [remainder of page intentionally blank]

                                       7.
<PAGE>

     IN WITNESS WHEREOF, this Warrant is executed as of the   day of
  , 199 .

                                    LogicVision, Inc.,
                                    a California corporation

                                    By:___________________________________
                                       Name:
                                       Title:

                                    HOLDER:

                                    _____________________________________
                                             (Print Name of Holder)

                                    _____________________________________
                                                   (Signature)

                                    Name:________________________________

                                    Title:_______________________________

                            Address:
                                    _____________________________________
                                    _____________________________________

                            Facsimile Number: ___________________________

                                       8.<PAGE>

                                                                     EXHIBIT 4.5

THE WARRANT EVIDENCED OR CONSTITUTED HEREBY, AND ALL SHARES OF COMMON STOCK
ISSUABLE HEREUNDER, HAVE BEEN AND WILL BE ISSUED WITHOUT REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED ("THE ACT`) AND MAY NOT BE SOLD, OFFERED FOR
SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED WITHOUT REGISTRATION UNDER THE ACT
UNLESS EITHER (i) THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL, IN FORM AND
SUBSTANCE REASONABLY SATISFACTORY TO THE COMPANY, TO THE EFFECT THAT
REGISTRATION IS NOT REQUIRED IN CONNECTION WITH SUCH DISPOSITION OR (ii) THE
SALE OF SUCH SECURITIES IS MADE PURSUANT TO SECURITIES AND EXCHANGE COMMISSION
RULE 144.

               EXTINGUISHING WARRANT TO PURCHASE COMMON STOCK OF
                               LOGICVISION, INC.

                            (Subject to Adjustment)

NO.

     THIS CERTIFIES THAT, for value received,     , or its permitted registered
assigns ("Holder"), is entitled, subject to the terms and conditions of this
          ------
Warrant, at any time or from time to time after the Effective Date, and before
5:00 p.m. Pacific Time on that date which is 10 years after the Effective Date,
subject early termination pursuant to an Early Termination Event (the
"Expiration Date") to purchase from LogicVision, Inc., a California corporation
----------------
(the "Company")      (   ) shares of Common Stock of the Company at  a price
                                     -------
per share of Fifty Cents ($0.50) (the "Purchase Price" ). Both the number of
                                       --------------
shares of Common Stock purchasable upon exercise of this Warrant and the
Purchase Price are subject to adjustment and change as provided herein. This
--------------
Warrant is issued pursuant to that certain Securities Purchase Agreement, dated
January   1999 (the "Purchase Agreement"), between the Company and Holder.
                     ------------------

1.   CERTAIN DEFINITIONS. As used in this Warrant the following terms shall have
the following respective meanings:

     "Early Termination Event" shall be the closing of a Sale of the Company.
      -----------------------
In the event of a proposed transaction of the kind described above, the Company
shall notify Holder in writing at least thirty (30) days prior to the
consummation of such event or transaction.  However, if the Holder has sent a
Notice of Exercise on or before the expiration of the Exercise Period and the
Holder is prevented from exercising the Warrant on or before the end of the
Exercise Period due to any applicable waiting periods imposed by the Hart-Scott-
Rodino Antitrust Improvements Act of 1976 (the "HSR Act Restrictions") the
Holder may complete the process of exercising the Warrant, for a period of ten
(10) days following termination of the HSR Act Restrictions.

     The "Effective Date" of this Extinguishing Warrant shall be December 31,
          --------------
1999 if the Company does not recognize gross revenues of at least $14,000,000
during its Fiscal Year 1999 (January 1, 1999 - December 31, 1999).  If, however,
the Company does recognize gross revenues of at least $14,000,000 in its Fiscal
Year 1999, this Warrant will terminate and be of no further effect, effective
December 31, 1999.  However, should there be a Sale of the Company prior to
<PAGE>

the completion of audited financials for Fiscal Year 1999 and delivery thereof
to the Holder in which the aggregate proceeds to the holders of Series G
Preferred Stock are less than $4.25 per share of such Series G Preferred Stock,
the Effective Date shall be the business day immediately prior to the closing of
such Sale of the Company.  For purposes of this Extinguishing Warrant, gross
revenues will be determined from the Company's audited financial statements for
the fiscal year ending December 31, 1999 which shall be prepared utilizing
generally accepted accounting principles, consistently applied, and shall be
completed and delivered to the Holder no later than February 1, 2000.  If the
Extinguishing Warrant has already been exercised into shares of Common Stock
prior to the delivery of the Fiscal Year 1999 financial statements, and the
Company recognizes revenues of at least $14,000,000 for such year as
contemplated above, the Company shall cancel such shares in their entirety and
refund any Purchase Price paid by the Holder and the Holder agrees that such
cancellation is permitted.

     "Fair Market Value" of a share of Common Stock as of a particular date
      -----------------
shall mean:

          (a)   If traded on a securities exchange or the Nasdaq National
Market, the Fair Market Value shall be deemed to be the average of the closing
prices of the Common Stock of the Company on such exchange or market over the 5
business days ending immediately prior to the applicable date of valuation;

          (b)   If actively traded over-the-counter, the Fair Market Value shall
be deemed to be the average of the closing bid prices over the 30-day period
ending immediately prior to the applicable date of valuation; and

          (c)   If there is no active public market, the Fair Market Value shall
be the value thereof, as agreed upon by the Company and the Holder; provided,
however, that if the Company and the Holder cannot agree on such value, such
value shall be determined by an independent valuation firm experienced in
valuing businesses such as the Company and jointly selected in good faith by the
Company and the Holder Fees and expenses of the valuation firm shall be paid for
by the Company.

     "HSR Act" shall mean the Hart-Scott-Rodino Antitrust Improvements Act of
      -------
1976.

     "IPO" shall mean the Company's first firm commitment underwritten public
      ---
offering of the Company's Common Stock pursuant to a registration statement
filed with the Securities and Exchange Commission.

     "Registered Holder" shall mean any Holder in whose name this Warrant is
      -----------------
registered upon the books and records maintained by the Company.

     "Sale of the Company" shall mean a merger of the Company with or into any
      -------------------
other corporation or corporations (or other Person) in which the shareholders of
this Company immediately before the merger do not hold more than 50% of the
voting power of the surviving corporation immediately after the merger, a
statutory share exchange with any other corporation, or a sale, conveyance or
disposition of all or substantially all of the assets of this Company in which
shareholders of this Company immediately before such exchange hold neither more
than

                                       2
<PAGE>

50% of the voting power of this Company immediately after such exchange nor more
than 50% of the voting power of an entity which holds more than 50% of the
voting power of this Company immediately after the exchange, an exclusive
license of all or substantially all of the Company's intellectual property used
in generating all or substantially all of the Company's revenues for the Company
or the effectuation by this Company of a transaction or series of related
transactions in which more than 50% of the voting power of this Company is
disposed of (a "Sale of the Company").

     "Warrant" as used herein, shall include this Warrant and any warrant
      -------
delivered in substitution or exchange therefor as provided herein.

     "Common Stock" shall mean the Common Stock of the Company and any other
      ------------
securities at any time receivable or issuable upon exercise of this Warrant.

2.         EXERCISE OF WARRANT

     2.1.  Payment.  Subject to compliance with the terms and conditions of this
           -------
Warrant and applicable securities laws, this Warrant may be exercised, in whole
or in part at any time or from time to time, on or before the Expiration Date by
the delivery (including, without limitation, delivery by facsimile) of the form
of Notice of Exercise attached hereto as Exhibit I (the "Notice of Exercise"),
duly executed by the Holder, at the principal office of the Company, and as soon
as practicable after such date, surrendering

           (a) this Warrant at the principal office of the Company, and

           (b) payment, (i) in cash (by check) or by wire transfer, (ii) by
cancellation by the Holder of indebtedness of the Company to the Holder; or
(iii) by a combination of (i) and (ii), of an amount equal to the product
obtained by multiplying the number of shares of Common-Stock being purchased
upon such exercise by the then effective Purchase Price (the "Exercise Amount'),
except that if Holder is subject to HSR Act Restrictions (as defined in Section
2.5 below), the Exercise Amount shall be paid to the Company within five (5)
business days of the termination of all HSR Act Restrictions.

     2.2.  Net Issue Exercise.  In lieu of the payment methods set forth in
           ------------------
Section 2.1 (b) above, the Holder may elect to exchange all or some of the
Warrant for shares of Common Stock equal to the value of the amount of the
Warrant being exchanged on the date of exchange.  If Holder elects to exchange
this Warrant as provided in this Section 2.2, Holder shall tender to the Company
the Warrant for the amount being exchanged, along with written notice of
Holder's election to exchange some or all of the Warrant, and the Company shall
issue to Holder the number of shares of the Common Stock computed using the
following formula:

           X = Y (A-B)
               -------
                 A

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

                                       3
<PAGE>

           Y = the number of shares of Common Stock purchasable under the amount
           of the Warrant being exchanged (as adjusted to the date of such
           calculation).

           A = the Fair Market Value of one share of the Company's Common Stock.

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

           All references herein to an "exercise" of the Warrant shall include
an exchange pursuant to this Section 2.2. Upon receipt of a written notice of
the Company's intention to raise capital by selling shares, of Common Stock in
an IPO (the "IPO Notice"), which notice shall be delivered to Holder at least
             ----------
forty-five (45) but not more than ninety (90) days before the anticipated date
of the filing with the Securities and Exchange Commission of the registration
statement associated with the IPO, the Holder shall promptly notify the Company
whether or not the Holder will exercise this Warrant pursuant to this Section
2.2 prior to consummation of the IPO. Notwithstanding whether or not an IPO
Notice has been delivered to Holder or any other provision of this Warrant to
the contrary, if Holder decides to exercise this Warrant while a registration
statement is on file with the Securities and Exchange Commission (the "SEC") in
                                                                       ---
connection with the IPO, this Warrant shall be deemed exercised on the
consummation of the IPO and the Fair Market Value of a share of Common Stock
will be the price at which one share of Common Stock was sold to the public in
the IPO. If Holder has elected to exercise this Warrant pursuant to this Section
2.2 while a registration statement is on file with the Securities and Exchange
Commission in connection with an TO and the TO is not consummated, then Holder's
exercise of this Warrant shall not be effective unless Holder confirms in
writing Holder's intention to go forward with the exercise of this Warrant.

     2.3.  "Easy Sale" Exercise.  In lieu of the payment methods set forth in
            -------------------
Section 2.1 (b) above, when Permitted by law and applicable regulations
(including Nasdaq and NASD rules), the Holder may pay the Exercise Amount
through a "same day sale" commitment from the Holder (and if applicable a
broker-dealer that is a member of the National Association of Securities Dealers
(a "NASD Dealer")), whereby the Holder irrevocably elects to exercise this
Warrant and to sell at least that number of Shares so purchased to pay the
Exercise Amount (and up to all of the Shares so purchased) and the Holder (or,
if applicable, the NASD Dealer) commits upon sale (or, in the case of the NASD
Dealer, upon receipt) of such Shares to forward the Exercise Amount directly to
the Company, with any sale proceeds in excess of the Exercise Amount being for
the benefit of the Holder.

     2.4.  Stock Certificates; Fractional Shares.  As soon as practicable on or
           -------------------------------------
after the date this Warrant is exercised, the Company shall issue and deliver to
the person or persons entitled to receive the same a certificate or certificates
for the number of whole shares of Common Stock issuable upon such exercise,
together with cash in lieu of any fraction of a share equal to such fraction of
the current Fair Market Value of one whole share of Common Stock as of the date
of exercise of this Warrant.  No fractional shares or scrip representing
fractional shares shall be issued upon an exercise of this Warrant.

     2.5.  HSR Act.  The Company hereby acknowledges that exercise of this
           -------
Warrant by Holder may subject the Company and/or the Holder to the filing
requirements of the HSR Act

                                       4
<PAGE>

and that Holder may be prevented from exercising this Warrant until the
expiration or early termination of all waiting periods imposed by the HSR Act
("HSR Act Restrictions").  If on or before the Expiration Date Holder has sent
the Notice of Exercise to Company and Holder has not been able to complete the
exercise of this Warrant prior to the Expiration Date because of 14SR Act
Restrictions, the Holder shall be entitled to complete the process of exercising
this Warrant in accordance with the procedures contained herein notwithstanding
the fact that completion of the exercise of this Warrant would take place after
the Expiration Date.

     2.6.  Partial Exercise: Effective Date of Exercise.  In case of any partial
           --------------------------------------------
exercise of this Warrant, the Company shall cancel this Warrant upon surrender
hereof and shall execute and deliver a new Warrant of like tenor and date for
the balance of the shares of Common Stock purchasable hereunder.  This Warrant
shall be deemed to have been exercised immediately prior to the close of
business on the date of its surrender for exercise as provided above.  However,
if Holder is subject to HSR Act filing requirements this Warrant shall be deemed
to have been exercised on the date immediately following the date of the
expiration of all HSR Act Restrictions.  The person entitled to receive the
shares of Common Stock issuable upon exercise of this Warrant shall be treated
for all purposes as the holder of record of such shares as of the close of
business on the date the Holder is deemed to have exercised this Warrant.

     2.7.  Sale of the Company.  In the Event of a Sale of the Company, the
           -------------------
Company shall give written notice to the Holder of such Sale of the Company not
less than thirty (30) days prior to the closing date thereof.  This Warrant
shall automatically be exercised pursuant to Section 2.2 above immediately
preceding the closing of such Sale of the Company (the "Sale"), if not
previously exercised, unless the Holder shall notify the Company prior to the
Sale that this Warrant is not to be so exercised; provided that noting in this
sentence shall extend the term of the Warrant beyond the Expiration Date.  The
exercise pursuant to this Section 2.7 shall be contingent upon the actual
closing of the Sale of the Company.  If such closing does not occur, the
exercise pursuant to this Section 2.7 shall not be effected.

3.   VALID ISSUANCE: TAXES.  All shares of Common Stock issued upon the exercise
of this Warrant shall be validly issued, fully paid and non-assessable, and the
Company shall pay all taxes and other governmental charges that may be imposed
in respect of the issue or delivery thereof. The Company shall not be required
to pay any tax or other charge imposed in connection with any transfer involved
in the issuance of any certificate for shares of Common Stock in any name other
than that of the Registered Holder of this Warrant, and in such case the Company
shall not be required to issue or deliver any stock certificate or security
until such tax or other charge has been paid, or it has been established to the
Company's reasonable satisfaction that no tax or other charge is due.

4.   ADJUSTMENT OF PURCHASE PRICE AND NUMBER OF SHARES. The number of shares of
Common Stock issuable upon exercise of this Warrant (or any shares of stock or
other securities or property receivable or issuable upon exercise of this
Warrant) and the Purchase Price are subject to adjustment upon occurrence of the
following events:

                                       5
<PAGE>

     4.1.  Adjustment for Stock Splits, Stock Subdivisions or Combinations of
           ------------------------------------------------------------------
Shares.  The purchase Price of this Warrant shall be proportionally decreased
------
and the number of shares of Common Stock issuable upon exercise of this Warrant
(or any shares of stock or other securities at the time issuable upon exercise
of this Warrant) shall be proportionally increased to reflect any stock split or
subdivision of the Company's Common Stock.  The Purchase Price of this Warrant
shall be proportionally increased and the number of shares of Common Stock
issuable upon exercise of this Warrant (or any shares of stock or other
securities at the time issuable upon exercise of this Warrant) shall be
proportionally decreased to reflect any combination of the Company's Common
Stock.

     4.2.  Adjustment for Dividends or Distributions of Stock or Other
           -----------------------------------------------------------
Securities or Property.  In case the Company shall make or issue, or shall fix a
----------------------
record date for the determination of eligible holders entitled to receive, a
dividend or other distribution with respect to the Common Stock (or any shares
of stock or other securities at the time issuable upon exercise of the Warrant)
payable in (a) securities of the Company or (b) assets (excluding cash dividends
paid or payable solely out of retained earnings), then, in each such case, the
Holder of this Warrant on exercise hereof at any time after the consummation,
effective date or record date of such dividend or other distribution, shall
receive, in addition to the shares of Common Stock (or such other stock or
securities) issuable on such exercise prior to such date, and without the
payment of additional consideration therefor, the securities or such other
assets of the Company to which such Holder would have been entitled upon such
date if such Holder had exercised this Warrant on the date hereof and had
thereafter, during the period from the date hereof to and including the date of
such exercise, retained such shares and/or all other additional stock available
by it as aforesaid during such period giving effect to all adjustments called
for by this Section 4.

     4.3.  Reclassification.  If the Company, by reclassification of securities
           ----------------
or otherwise, shall change any of the securities as to which purchase rights
under this Warrant exist into the same or a different number of securities of
any other class or classes, this Warrant shall thereafter represent the right to
acquire such number and kind of securities as would have been issuable, as the
result of such change with respect to the securities that were subject to the
purchase rights under this Warrant immediately prior to such reclassification or
other change and the Purchase Price therefore shall be appropriately adjusted,
all subject to further adjustment as provided in this Section 4.  No adjustment
shall be made pursuant to this Section 4.3 upon any conversion or redemption of
the Common Stock which is the subject of Section 4.5.

     4.4.  Adjustment for Capital Reorganization, Merger Consolidation.  In case
           -----------------------------------------------------------
of any capital reorganization of the capital stock of the Company (other than a
combination, reclassification, exchange or subdivision of shares otherwise
provided for herein), or any merger or consolidation of the Company with or into
another corporation, or the sale of all or substantially all the assets of the
Company then, and in each such case, as a part of such reorganization, merger,
consolidation, sale or transfer, lawful provision shall be made so that the
Holder of this Warrant shall thereafter be entitled to receive upon exercise of
this Warrant, subject to an Early Termination Event, during the period specified
herein and upon payment of the Purchase Price then in effect, the number of
shares of stock or other securities or property of

                                       6
<PAGE>

the successor corporation resulting from such reorganization, merger,
consolidation, sale or transfer that a holder of the shares deliverable upon
exercise of this Warrant would have been entitled to receive in such
reorganization, consolidation, merger, sale or transfer if this Warrant had been
exercised immediately before such reorganization, merger, consolidation, sale or
transfer, all subject to further adjustment as provided in this Section 4.  The
foregoing provisions of this Section 4.4 shall similarly apply to successive
reorganizations, consolidations, mergers, sales and transfers and to the stock
or securities of any other corporation that are at the time receivable upon the
exercise of this Warrant.  If the per-share consideration payable to the Holder
hereof for shares in connection with any such transaction is in a form other
than cash or marketable securities, then the value of such consideration shall
be determined in good faith by the Company's Board of Directors.  In all events,
appropriate adjustment (as determined in good faith by the Company's Board of
Directors) shall be made in the application of the provisions of this Warrant
with respect to the rights and interests of the Holder after the transaction, to
the end that the provisions of this Warrant shall be applicable after that
event, as near as reasonably may be, in relation to any shares or other property
deliverable after that event upon exercise of this Warrant.

     4.5.  Conversion of Common Stock.  In case all or any portion of the
           --------------------------
authorized and outstanding shares of Common Stock of the Company are redeemed or
converted or reclassified into other securities or property pursuant to the
Company's Articles of Incorporation or otherwise, or the Common Stock otherwise
ceases to exist, then, in such case, the Holder of this Warrant, upon exercise
hereof at any time after the date on which the Common Stock is so redeemed or
converted, reclassified or ceases to exist (the "Termination Date'), shall
receive, in lieu of the number of shares of Common Stock that would have been
issuable upon such exercise immediately prior to the Termination Date, the
securities or property that would have been received if this Warrant had been
exercised in full and the Common Stock received thereupon had been
simultaneously converted immediately prior to the Termination Date, all subject
to further adjustment as provided in this Warrant.  Additionally, the Purchase
Price shall be immediately adjusted to equal the quotient obtained by dividing
(x) the aggregate Purchase Price of the maximum number of shares of Common Stock
for which this Warrant was exercisable immediately prior to the Termination Date
by (y) the number of shares of Common Stock of the Company for which this
Warrant is exercisable immediately after the Termination Date, all subject to
further adjustment as provided herein.

5.   CERTIFICATE AS TO ADJUSTMENTS. In each case of any adjustment in the
Purchase Price, or number or type of shares issuable upon exercise of this
Warrant, the Chief Financial Officer or Controller of the Company shall compute
such adjustment in accordance with the terms of this Warrant and prepare a
certificate setting forth such adjustment and showing in detail the facts upon
which such adjustment is based, including a statement of the adjusted Purchase
Price. The Company shall promptly send (by facsimile and by either firstclass
mail, postage prepaid or overnight delivery) a copy of each such certificate to
the Holder.

6.  LOSS OR MUTILATION.  Upon receipt of evidence reasonably satisfactory to the
Company of the ownership of and the loss, theft, destruction or mutilation of
this Warrant, and of indemnity reasonably satisfactory to it, and (in the case
of mutilation) upon surrender and

                                       7
<PAGE>

cancellation of this Warrant, the Company will execute and deliver in lieu
thereof a new Warrant of like tenor as the lost, stolen, destroyed or mutilated
Warrant.

7.   RESERVATION OF COMMON STOCK. The Company hereby covenants that at all times
there shall be reserved for issuance and delivery upon exercise of this Warrant
such number of shares of Common Stock or other shares of capital stock of the
Company as are from time to time issuable upon exercise of this Warrant and,
from time to time, will take all steps necessary to amend its Articles of
Incorporation to provide sufficient reserves of shares of Common Stock issuable
upon exercise of this Warrant. All such shares shall be duly authorized, and
when issued upon such exercise, shall be validly issued, fully paid and non-
assessable, free and clear of all liens, security interests, charges and other
encumbrances or restrictions on sale and free and clear of all preemptive
rights, except encumbrances or restrictions arising under federal or state
securities laws. Issuance of this Warrant shall constitute full authority to the
Company's officers who are charged with the duty of executing stock certificates
to execute and issue the necessary certificates for shams of Common Stock and
Common Stock upon the exercise of this Warrant.

8.   TRANSFER AND EXCHANGE.  Subject to the terms and conditions of this Warrant
and compliance with all applicable securities laws, this Warrant and all rights
hereunder may be transferred to any Registered Holder's parent, subsidiary or
affiliate, in whole or in part, on the books of the Company maintained for such
purpose at the principal office of the Company referred to above, by the
Registered Holder hereof in person, or by duly authorized attorney, upon
surrender of this Wan tax or other governmental charge imposed upon such
transfer. Upon any permitted partial transfer, the Company will issue and
deliver to the Registered Holder a new Warrant or Warrants with respect to the
shares of Common Stock not so transferred. Each taker and holder of this
Warrant, by taking or holding the same, consents and agrees that when this
Warrant shall have been so endorsed, the person in possession of this Warrant
may be treated by the Company, and all other persons dealing with this Warrant,
as the absolute owner hereof for any purpose and as the person entitled to
exercise the rights represented hereby, any notice to the contrary
notwithstanding; provided, however that until a transfer of this Warrant is duly
registered on the books of the Company, the Company may treat the Registered
Holder hereof as the owner for all purposes.

9.  RESTRICTIONS ON TRANSFER.  The Holder, by acceptance hereof, agrees that,
absent an effective registration statement filed with the SEC under the
Securities Act of 1933, as amended (the "1933 Act), covering the disposition or
sale of this Warrant or the Common Stock issued or issuable upon exercise hereof
or the Common Stock issuable upon conversion thereof, as the case may be, and
registration or qualification under applicable state securities laws, such
Holder will not sell, transfer, pledge, or hypothecate any or all such Warrants
or Common Stock, as the case may be, unless either (i) the Company has received
an opinion of counsel, in form and substance reasonably satisfactory to the
Company, to the effect that such registration is not required in connection with
such disposition or (ii) the sale of such securities is made pursuant to SEC
Rule 144.

                                       8
<PAGE>

10.  COMPLIANCE WITH SECURITIES LAWS.  By acceptance of this Warrant, the holder
hereby represents, Warrants and covenants that any shares of stock purchased
upon exercise of this Warrant or acquired upon conversion thereof shall be
acquired for investment only and not with a view to, or for sale in connection
with, any distribution thereof; that the Holder has had such opportunity as such
Holder has deemed adequate to obtain from representatives of the Company such
information as is necessary to permit the Holder to evaluate the merits and
risks of its investment in the company; that the Holder is able to bear the
economic risk of holding such shares as may be acquired pursuant to the exercise
of this Warrant for an indefinite period; that the Holder understands that the
shares of stock acquired pursuant to the exercise of this Warrant or acquired
upon conversion thereof will not be registered under the 1933 Act (unless
otherwise required pursuant to exercise by the Holder of the registration
rights, if any, previously granted to the registered Holder) and will be
"restricted securities" within the meaning of Rule 144 under the 1933 Act and
that the exemption from registration under Rule 144 will not be available for at
least one year from the date of exercise of this Warrant, subject to any special
treatment by the SEC for exercise of this Warrant pursuant to Section 2.2, and
even then will not be available unless a public market then exists for the
stock, adequate information concerning the Company is then available to the
public, and other terms and conditions of Rule 144 are complied with; and that
all stock certificates representing shares of stock issued to the Holder upon
exercise of this Warrant or upon conversion of such shares may have affixed
thereto a legend substantially in the following form:

     THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
     SECURITIES ACT OF 1933, AS AMENDED (THE "ACT), OR UNDER THE SECURITIES LAWS
     OF ANY STATE.  THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON
     TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS
     PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT
     TO REGISTRATION OR EXEWT10N THEREFROM.  INVESTORS SHOULD BE AWARE THAT THEY
     MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN
     INDEFINITE PERIOD OF TIME.  THE ISSUER OF THESE SECURITIES MAY REQUIRE AN
     OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE
     EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT
     AND ANY APPLICABLE STATE SECURITIES LAWS.

11.  NO RIGHTS OR LIABILITIES AS STOCKHOLDERS. This Warrant shall not entitle
the Holder to any voting rights or other rights as a stockholder of the
Company. In the absence of affirmative action by such Holder to purchase
Common Stock by exercise of this Warrant no provisions of this Warrant, and no
enumeration herein of the rights or privileges of the Holder hereof shall cause
such Holder hereof to be a stockholder of the Company for any purpose.

                                       9
<PAGE>

12.  REGISTRATION RIGHTS.  All shares of Common Stock issuable upon exercise of
this Warrant shall be "Registrable Securities" or such other definition of
securities entitled to registration rights pursuant to the Company's Fourth
Amended and Restated Registration Rights Agreement, dated the date hereof, and
are entitled, subject to the terms and conditions of that agreement, to all
registration rights granted to holders of Registrable Securities thereunder.

13.  NOTICES.  All notices and other communication from the Company to the
Holder shall be given in accordance with the Purchase Agreement.

14.  HEADINGS.  The headings in this Warrant are for purposes of convenience in
reference only, and shall not be deemed to constitute a part hereof.

15.  LAW GOVERNING.  This Warrant shall be construed and enforced in accordance
with, and governed by, the laws of the State of California.

16.  NO IMPAIRMENT. The Company will not, by amendment of its Articles of
incorporation or bylaws, or through reorganization, consolidation, merger,
dissolution, issue or sale of securities, sale of assets or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms
of this Warrant, but will at all times in good faith assist in the carrying out
of all such terms and in the taking of all such action as may be necessary or
appropriate in order to protect the rights of the Registered Holder of this
Warrant against impairment. Without limiting the generality of the foregoing,
the Company (a) will not increase the par value of any shares of stock issuable
upon the exercise of this Warrant above the amount payable therefor upon such
exercise, and (b) will take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and non-
assessable shares of Common Stock upon exercise of this Warrant.

17.  NOTICES OF RECORD DATE.  In case:

     17.1.  the Company shall take a record of the holders of its Common Stock
(or other stock or securities at the time receivable upon the exercise of this
Warrant), for the purpose of entitling them to receive any dividend or other
distribution, or any right to subscribe for or purchase any shares of stock of
any class or any other securities or to receive any other right; or

     17.2.  of any consolidation or merger of the Company with or into another
corporation, any capital reorganization of the Company, any reclassification of
the Capital Stock of the Company, or any conveyance of all or substantially all
of the assets of the Company to another corporation in which holders of the
Company's stock are to receive stock, securities or property of another
corporation; or

     17.3.  of any voluntary dissolution, liquidation or winding-up of the
Company; or

     17.4.  of any redemption or conversion of all outstanding Common Stock;

then, and in each such case, the Company will mail or cause to be mailed to the
Registered Holder of this Warrant a notice specifying, as the case may be, (i)
the date on which a record is to

                                      10
<PAGE>

be taken for the purpose of such dividend, distribution or right, or (ii) the
date on which such reorganization, reclassification, consolidation, merger,
conveyance, dissolution, liquidation, winding-up, redemption or conversion is to
take place, and the time, if any is to be fixed, as of which the holders of
record of Common Stock or (such stock or securities as at the time are
receivable upon the exercise of this Warrant), shall be entitled to exchange
their shares of Common Stock (or such other stock or securities), for securities
or other property deliverable upon such reorganization, reclassification,
consolidation, merger, conveyance, dissolution, liquidation or winding-up.  Such
notice shall be delivered at least thirty (30) days prior to the date therein
specified.

18.  SEVERABILITY.  If any term, provision, covenant or restriction of this
Warrant is held by a court of competent jurisdiction to be invalid, void or
unenforceable, the remainder of the terms, provisions, covenants and
restrictions of this Warrant shall remain in full force and effect and shall in
no way be affected, impaired or invalidated.

19.  NO INCONSISTENT AGREEMENTS.  The Company will not on or after the date of
this Warrant enter into any agreement with respect to its securities which is
inconsistent with the rights granted to the Holders of this Warrant or otherwise
conflicts with the provisions hereof. The rights granted to the Holders
hereunder do not in any way conflict with and are not inconsistent with the
rights granted to holders of the Company's securities under any other
agreements, except rights that have been waived.

20.  SATURDAYS, SUNDAYS AND HOLIDAYS.  If the Expiration Date falls on a
Saturday, Sunday or legal holiday, the Expiration Date shall automatically be
extended until 5:00 p.m. the next business day.

21.  CONFIDENTIALITY AND NONDISCLOSURE.  The terms and conditions of this
Warrant, including its existence (the "Warrant Terms"), shall considered
                                       -------------
confidential information and any disclosure of the Warrant Terms shall be
governed by Section 9.5 of the Purchase Agreement.

22.  DISPUTE RESOLUTION.  The parties agree to negotiate in good faith to
resolve any dispute between them regarding this Warrant. If the negotiations
do not resolve the dispute to the reasonable satisfaction of both parties,
then each party shall nominate one senior officer of the rank of Vice President
or higher as its representative. These representatives shall, within thirty
(30) days of a written request by either party to call such a meeting, meet in
person and alone (except for one assistant for each party) and shall attempt
in good faith to resolve the dispute. If the disputes cannot be resolved by
such senior managers in such meeting, the parties agree that they shall, if
requested in writing by either party, meet within thirty (30) days after such
written notification for one day with an impartial mediator and consider
dispute resolution alternatives other than litigation. If an alternative
method of dispute resolution is not agreed upon within thirty (30) days after
the one day mediation, either party may begin litigation proceedings. This
procedure shall be a prerequisite before taking any additional action hereunder.

                                      11
<PAGE>

     IN WITNESS WHEREOF, the Company has executed this Warrant as of the
Effective Date.

                                    LOGICVISION, INC.

                                    By:_________________________________

                                    ____________________________________
                                    Printed Name

                                    ____________________________________
                                    Title

              SIGNATURE PAGE TO COMMON STOCK EXTINGUISHING WARRANT

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