Document:

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                                                                    EXHIBIT 10.1

                          SECURITIES PURCHASE AGREEMENT

         This SECURITIES PURCHASE AGREEMENT (this "Agreement") is dated as of
the 8th day of June, 2003, by and between Corixa Corporation, a Delaware
corporation with its principal office at 1124 Columbia Street, Suite 200,
Seattle, WA 98104 (the "Company"), and the several purchasers identified in the
attached Exhibit A (individually, a "Purchaser" and collectively, the
"Purchasers").

         WHEREAS, the Company desires to issue and sell to the Purchasers shares
(the "Shares") of the authorized but unissued shares of common stock, $.001 par
value per share, of the Company (the "Common Stock") and warrants in the form
attached as Exhibit B to purchase 0.18 shares of Common Stock for each Share
(each, a "Warrant," and collectively, the "Warrants") at an aggregate purchase
price of approximately $30,000,000;

         WHEREAS, the Company proposes to complete an offering of not less than
$75,000,000 aggregate principal amount of convertible notes (the "Convertible
Notes") on or before June 15, 2003; and

         WHEREAS, the Purchasers, severally, wish to purchase the Shares and the
Warrants on the terms and subject to the conditions set forth in this Agreement.

         NOW THEREFORE, in consideration of the mutual agreements,
representations, warranties and covenants herein contained, the parties hereto
agree as follows:

         1.       Definitions. As used in this Agreement, the following terms
shall have the following respective meanings:

                  (a)               "Affiliate" of a party means any corporation
or other business entity controlled by, controlling or under common control with
such party. For this purpose "control" (including the terms "controlling,"
"controlled by" and "under common control with") shall mean the possession,
direct or indirect, of the power to direct or cause the direction of the
management and policies of a person or entity, whether through the ownership of
voting securities, by contract, or otherwise.

                  (b)               "Closing Date" means the date of the Closing
(as defined below).

                  (c)               "Exchange Act" means the Securities Exchange
Act of 1934, as amended, and all of the rules and regulations promulgated
thereunder.

                  (d)               "Fair Market Value" shall mean (i) the
average of the closing bid prices on the Nasdaq National Market for the five
trading days immediately preceding and including the date on which the condition
set forth in Section 5.1(i) has been satisfied or waived, if such condition is
satisfied or waived after 4:30 p.m. Eastern time on such date, or (ii) the
average of the closing bid prices on the Nasdaq National Market for the five
trading days immediately preceding but not including the date on which the
condition set forth in Section 5.1(i) has been satisfied or waived, if such
condition is satisfied or waived before 4:30 p.m. Eastern time on such date.

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                  (e)               "Majority Purchasers" shall mean Purchasers
which, at any given time, hold greater than a majority of the voting power of
the Shares purchased hereunder which are then held by the Purchasers.

                  (f)               "Material Adverse Effect" shall mean any
change, effect, event, occurrence, development or developments which,
individually or in the aggregate, (i) has had or would reasonably be expected to
have a material adverse effect on the business, assets, liabilities (contingent
or other), affairs, operations or financial condition of the Company or its
Subsidiary, or (ii) would reasonably be expected to prevent or materially
impede, interfere, hinder or delay the performance by the Company of its
obligations hereunder.

                  (g)               "Operative Agreements" shall mean the
Registration Rights Agreement and the Warrants, together with this Agreement.

                  (h)               "Registration Rights Agreement" shall mean
that certain Registration Rights Agreement, dated as of the date hereof, between
the Company and the Purchasers.

                  (i)               "SEC" shall mean the Securities and Exchange
Commission.

                  (j)               "Securities" shall mean the Shares, the
Warrants and the Underlying Shares.

                  (k)               "Securities Act" shall mean the Securities
Act of 1933, as amended, and all of the rules and regulations promulgated
thereunder.

                  (l)               "Subsidiary" shall mean a subsidiary of the
Company that is an Affiliate of the Company.

                  (m)               "Underlying Shares" shall mean the shares of
Common Stock issuable upon exercise of the Warrants.

         2.       Purchase and Sale of Securities.

                  2.1      Purchase and Sale. Subject to and upon the terms and
conditions set forth in this Agreement, the Company agrees to issue and sell to
each Purchaser, and each Purchaser, severally and not jointly, hereby agrees to
purchase from the Company, at the Closing, for an aggregate purchase price set
forth opposite the name of such Purchaser on Exhibit A hereto, Shares at a
purchase price per Share equal to the Fair Market Value, and a Warrant to
purchase 0.18 shares of Common Stock for every one Share purchased by the
Purchaser at a purchase price per Underlying Share of $0.125 and having an
exercise price per Underlying Share equal to the Fair Market Value. The
aggregate purchase price payable by the Purchasers to the Company for all of the
Securities purchased at the Closing shall be approximately $30,000,000.

                  2.2      Closing. The purchase and sale of the Securities to
be sold pursuant to this Agreement shall take place at the offices of Orrick,
Herrington & Sutcliffe LLP, counsel to the Company, at 719 Second Avenue, Suite
900, Seattle, Washington 98104, at 10:00 a.m., on either (a) the date that is
four business days after the date on which the condition set forth in

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Section 5.1(i) has been satisfied or waived, if such condition is satisfied or
waived after 4:30 p.m. Eastern time on such date, or (b) the date that is three
business days after the date on which the condition set forth in Section 5.1(i)
has been satisfied or waived, if such condition is satisfied or waived before
4:30 p.m. Eastern time on such date, or at such other time and place as the
Company and the Majority Purchasers agree upon orally or in writing (which time
and place are designated as the "Closing"). At the Closing, the Company shall
deliver to each Purchaser a single stock certificate and a single Warrant
representing the number of Securities purchased by such Purchaser, each to be
registered in the name of such Purchaser, or in such nominee's or nominees'
name(s) as designated by such Purchaser in writing in the form of the Purchaser
Questionnaire attached hereto as Appendix I, against payment of the purchase
price therefor by wire transfer of immediately available funds to such account
or accounts as the Company shall designate in writing.

         3.       Representations and Warranties of the Company. Except as
otherwise described in the Filed SEC Documents (as defined below)(including the
documents incorporated by reference therein) and the Company's press releases
since March 31, 2003 that are currently available on the Company's web site
located at http://www.corixa.com, the Company hereby represents and warrants to,
and covenants with, each of the Purchasers as follows:

                  3.1      Incorporation. Each of the Company and its Subsidiary
is a corporation duly organized, validly existing and in good standing under the
laws of the state of Delaware and is qualified to do business and in good
standing (with respect to jurisdictions that recognize such concept) in each
jurisdiction in which the character of its properties or the nature of its
business requires such qualification, except where the failure to so qualify or
be in good standing would not have a Material Adverse Effect. Complete and
correct copies of the Company's Amended and Restated Certificate of
Incorporation (the "Restated Certificate") and its Bylaws (the "Bylaws"), and
the certificate of incorporation and bylaws of its Subsidiary, as in effect on
the date hereof, have been filed by the Company with the SEC or otherwise made
available (including via EDGAR) to the Purchasers. The Company and its
Subsidiary have all requisite corporate power and authority to carry on its
business as now conducted.

                  3.2      Subsidiaries. Exhibit 21.1 to the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2002 lists the
Company's only Subsidiary. The Subsidiary is incorporated in Delaware and is
qualified to do business in the state of California., As of the date hereof,
the Subsidiary is not qualified or licensed to do business in any other
jurisdiction. All of the issued and outstanding shares of capital stock of, or
other equity interests in, the Subsidiary have been validly issued and are fully
paid and nonassessable and are owned by the Company free and clear of all
pledges, liens, charges, encumbrances or security interests of any kind
("Liens"), and free of any restriction on the right to vote, sell or otherwise
dispose of such capital stock or other equity interests. Except for the capital
stock of, or voting securities or equity interests in, its Subsidiary and for
short-term investments, the Company does not own any shares of stock or any
other equity or long-term debt securities of any corporation or have any equity
interest in any firm, partnership, limited liability company, joint venture,
association or other entity.

                  3.3      Capitalization. The authorized capital stock of the
Company consists of (i) 100,000,000 shares of Common Stock, of which 51,097,456
shares were outstanding as of

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June 1, 2003 and (ii) 10,000,000 shares of preferred stock, of which 12,500
shares of Series A Preferred Stock and 37,500 of Series B Preferred Stock were
outstanding as of June 1, 2003. The Company has not issued any capital stock
since June 1, 2003 other than pursuant to employee benefit plans disclosed in
the Filed SEC Documents. The outstanding shares of capital stock of the Company
have been duly and validly issued and are fully paid and nonassessable, have
been issued in compliance with all federal and state securities laws, and were
not issued in violation of any preemptive rights or similar rights to subscribe
for or purchase securities. There are no existing options, warrants, calls,
preemptive (or similar) rights, subscriptions or other rights, agreements,
arrangements or commitments of any character obligating the Company to issue,
transfer or sell, or cause to be issued, transferred or sold, any shares of the
capital stock of the Company or other equity interests in the Company or any
securities convertible into or exchangeable for such shares of capital stock or
other equity interests, and there are no outstanding contractual obligations of
the Company to repurchase, redeem or otherwise acquire any shares of its capital
stock or other equity interests. There are no voting agreements or other similar
agreements with respect to the Common Stock to which the Company is a party.

                  3.4      Authorization. All corporate action on the part of
the Company, its officers, directors and stockholders necessary for the
authorization, execution, delivery and performance of the Operative Agreements
and the consummation of the transactions contemplated therein has been taken.
When executed and delivered by the Company, each of the Operative Agreements
shall constitute the legal, valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms, except as such may
be limited by applicable bankruptcy, insolvency, reorganization or other laws
affecting creditors' rights generally and by general equitable principles. The
Company has all requisite corporate power to enter into the Operative Agreements
and to carry out and perform its obligations under the terms of the Operative
Agreements.

                  3.5      Valid Issuance of the Securities. The Securities
being purchased by the Purchasers hereunder will, upon issuance pursuant to the
terms hereof, be duly authorized and validly issued, and the Shares will, upon
issuance pursuant to the terms hereof, be fully paid and nonassessable. The
Underlying Shares have been duly and validly authorized and reserved for
issuance and, upon exercise of the Warrants in accordance with their terms,
including payment of the exercise price therefor, the Underlying Shares will be
validly issued, fully paid and nonassessable. No preemptive rights, co-sale
rights, rights of first refusal or other similar rights to subscribe for or to
purchase the Company's capital stock exist with respect to the issuance and sale
of the Securities by the Company pursuant to this Agreement and the terms of the
Warrants. No stockholder of the Company has any right (which has not been waived
or has not expired by reason of lapse of time) to require the Company to
register the sale of any shares owned by such stockholder under the Securities
Act in the registration statement to be filed by the Company pursuant to the
Registration Rights Agreement (the "Registration Statement").

                  3.6      Financial Statements. The Company has made available
(including via EDGAR) to each Purchaser its audited Consolidated Statements of
Income, Stockholders' Equity and Cash Flows for the fiscal year ended December
31, 2002, its audited Consolidated Balance Sheet as of December 31, 2002, its
unaudited Consolidated Statements of Income, Stockholders' Equity and Cash Flows
for the period from January 1, 2003 through March 31, 2003 and its unaudited
Consolidated Balance Sheet as of March 31, 2003. All such financial statements
are

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hereinafter referred to collectively as the "Financial Statements." The
Financial Statements have been prepared in accordance with generally accepted
accounting principles applied on a consistent basis during the periods involved,
and fairly present the financial position of the Company and its Subsidiary and
the results of their respective operations as of the date and for the periods
indicated thereon, except that the unaudited financial statements may not be in
accordance with generally accepted accounting principles because of the absence
of footnotes normally contained therein and are subject to normal year-end audit
adjustments which, individually, and in the aggregate, will not be material. The
Company and its Subsidiary have implemented and maintain a system of internal
accounting controls meeting the requirements of applicable law, including
without limitation the requirements of Section 13(b)(2) of the Exchange Act.
Since March 31, 2003, there has been no Material Adverse Effect.

                  3.7      SEC Documents. The Company has made available
(including via EDGAR) to each Purchaser, a true and complete copy of the
Company's Annual Report on Form 10-K for the fiscal year ended December 31,
2002, the Company's Quarterly Report on Form 10-Q for the three months ended
March 31, 2003, the Company's Definitive Proxy Statement for the Annual Meeting
held on May 30, 2003 and the Company's Current Reports on Form 8-K filed after
December 31, 2002 and before the date hereof (all such materials being called,
collectively, the "Filed SEC Documents"). The Company will, promptly upon the
filing thereof, also make available to each Purchaser all statements, reports
(including, without limitation, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K) and definitive proxy statements filed by the Company with
the SEC during the period commencing on the date hereof and ending on the
Closing Date (all such materials required to be furnished to each Purchaser
pursuant to this sentence being called, collectively, the "SEC Documents"). The
Company has filed in a timely manner all documents that the Company was required
to file under the Exchange Act during the 12 months preceding the date of this
Agreement. As of their respective filing dates, the Filed SEC Documents
complied, and the SEC Documents will comply, in all material respects with the
requirements of the Exchange Act, and none of the Filed SEC Documents, as of
their respective filing dates, contained, and none of the SEC Documents will
contain, any untrue statement of a material fact or omitted or omit, as the case
may be, to state a material fact required to be stated therein or necessary in
order to make the statements made therein, in light of the circumstances under
which they were or are, as the case may be, made, not misleading, except to the
extent corrected by a subsequent Filed SEC Document.

                  3.8      Consents. All consents, approvals, orders,
authorizations and filings required on the part of the Company in connection
with the execution, delivery or performance of the Operative Agreements and the
consummation of the transactions contemplated therein have been obtained and
will be effective as of the Closing Date.

                  3.9      No Conflict. The execution and delivery of the
Operative Agreements by the Company and the performance by the Company of its
obligations thereunder will not conflict with or result in any violation of or
default (with or without notice or lapse of time, or both) under, or give rise
to a right of termination, cancellation or acceleration of any obligation or to
a loss of a material benefit under (i) any provision of the Restated Certificate
or Bylaws, (ii) any material bond, debenture, note or other evidence of
indebtedness, or any material lease, contract, indenture, mortgage, deed of
trust, loan agreement, joint venture or other agreement or instrument to which
the Company or its Subsidiary is a party or by which either of their

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respective property is bound or (iii) except as would not have a Material
Adverse Effect, any judgment, order, statute, law, ordinance, rule or regulation
applicable to the Company or its Subsidiary or their respective properties or
assets.

                  3.10     Brokers or Finders. Except for Pacific Growth
Equities, Inc. (the "Placement Agent"), the Company has not dealt with any
broker or finder in connection with the transactions contemplated by this
Agreement, and, except for certain fees and expenses payable by the Company to
the Placement Agent, the Company has not incurred, and shall not incur, directly
or indirectly, any liability for any brokerage or finders' fees or agents
commissions or any similar charges in connection with this Agreement or any
transaction contemplated hereby.

                  3.11     Nasdaq National Market. The Common Stock is
registered pursuant to Section 12(g) of the Exchange Act and is listed on the
Nasdaq National Market System ("Nasdaq"). The Company has taken no action
designed to delist, or which, to the Company's knowledge, is likely to have the
effect of, terminating the registration of the Common Stock under the Exchange
Act or delisting the Common Stock from Nasdaq. The Company shall comply with all
requirements of the National Association of Securities Dealers, Inc. with
respect to the issuance of the Securities and the listing of the Shares and the
Underlying Shares on Nasdaq.

                  3.12     Absence of Litigation or Proceeding. There is no
action, suit or proceeding or, to the Company's knowledge, any investigation,
pending, or to the Company's knowledge, threatened by or before any court,
governmental body or regulatory agency against the Company that is required to
be disclosed in the Filed SEC Documents and is not so disclosed. The Company has
not received any written or oral notification of, or request for information in
connection with, any formal or informal inquiry, investigation or proceeding
from the SEC or the National Association of Securities Dealers.

                  3.13     Intellectual Property.

                           (a)      To the knowledge of the Company, the Company
and its Subsidiary have ownership or license or legal right to use all patent,
copyright, trade secret, trademark, customer lists, designs, manufacturing or
other processes, computer software, systems, data compilation, research results
or other proprietary rights used in their respective businesses and material to
the Company or its Subsidiary (collectively, "Intellectual Property"), other
than Intellectual Property generally available on commercial terms from other
sources.

                           (b)      There is no material default by the Company
or its Subsidiary under any material licenses or other material agreements under
which (i) the Company or its Subsidiary is granted rights in Intellectual
Property or (ii) the Company or its Subsidiary has granted rights to others in
Intellectual Property owned or licensed by the Company or its Subsidiary.

                           (c)      The Company believes it and its Subsidiary
have taken those steps required in accordance with sound business practice and
commercially reasonable business judgment to establish and preserve the
ownership by the Company and its Subsidiary of all

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material patent, copyright, trade secret and other proprietary rights with
respect to their respective products and technology.

                           (d)      To the knowledge of the Company, the present
business, activities and products of the Company and its Subsidiary do not
infringe any intellectual property of any other person, except where such
infringement would not have a Material Adverse Effect. The Company has not been
notified that any proceeding charging the Company or its Subsidiary with
infringement of any adversely held Intellectual Property has been filed. To the
Company's knowledge, there exists no patent or patent application held by any
other person which includes claims that would be infringed by the Company or its
Subsidiary in the conduct of their respective businesses as currently conducted
and as proposed to be conducted in the Filed SEC Documents, where such
infringement would have a Material Adverse Effect. To the knowledge of the
Company, neither the Company nor its Subsidiary is making unauthorized use of
any confidential information or trade secrets of any person, except for such
unauthorized uses that would not reasonably be expected have a Material Adverse
Effect. Neither the Company, its Subsidiary nor, to the knowledge of the
Company, any of their respective employees have any agreements or arrangements
with any persons other than the Company or its Subsidiary restricting the
Company's, its Subsidiary's or any such employee's engagement in business
activities that are material aspects of the Company's or its Subsidiary's
business as currently conducted or as proposed to be conducted in the Filed SEC
Documents.

                  3.14     Offering Materials. Other than the Filed SEC
Documents, the Disclosure Memorandum and the Operative Agreements (collectively,
the "Offering Materials"), the Company has not distributed and will not
distribute prior to the Closing Date any offering material in connection with
the offering and sale of the Securities. The Company has not in the past nor
will it hereafter take any action to sell, offer for sale or solicit offers to
buy any securities of the Company which would require the offer, issuance or
sale of the Securities, as contemplated by this Agreement, to be registered
under Section 5 of the Securities Act.

                  3.15     Investment Company. The Company is not an "investment
company" or an "affiliated person" of, or "promoter" or "principal underwriter"
for an investment company, within the meaning of the Investment Company Act of
1940, as amended.

                  3.16     No Manipulation of Stock. The Company has not taken
and will not, in violation of applicable law, take, any action designed to or
that might reasonably be expected to cause or result in unlawful manipulation of
the price of the Common Stock.

                  3.17     No Violations. Neither the Company nor its Subsidiary
is in violation of its organizational documents, or in violation of any law,
administrative regulation, ordinance or order of any court, governmental agency,
self-regulatory organization, arbitration panel or authority applicable to it,
which violation, individually or in the aggregate, would be reasonably expected
to have a Material Adverse Effect, and neither is in default (and there exists
no condition which, with the passage of time or otherwise, would constitute a
default) in the performance of any material bond, debenture, note or any other
evidence of indebtedness in any indenture, mortgage, deed of trust or any other
material agreement or instrument to which the Company or its Subsidiary is a
party or by which the Company or its Subsidiary is bound or by

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which the property of the Company or its Subsidiary is bound, which would be
reasonably expected to have a Material Adverse Effect.

                  3.18     Title to Assets. The Company and its Subsidiary have
good and marketable title to all real properties and other properties and assets
owned by them, in each case free from Liens that would materially affect the
value thereof or materially interfere with the use made or to be made thereof by
them, with such exceptions as would not, individually or in the aggregate, have
a Material Adverse Effect. The Company and its Subsidiary hold all leased real
or personal property under valid and enforceable leases with no exceptions that
would, individually or in the aggregate, have a Material Adverse Effect.

                  3.19     Permits. The Company and its Subsidiary possess
adequate certificates, authorities or permits issued by appropriate governmental
agencies or bodies necessary to conduct the business now operated by them (each,
a "Permit"), except where the failure to possess any such Permit or Permits
would not, individually or in the aggregate, have a Material Adverse Effect.
Neither the Company nor its Subsidiary have received any notice of proceedings
relating to the revocation or modification of any Permit that, if determined
adversely to the Company or its Subsidiary, would, individually or in the
aggregate, have a Material Adverse Effect.

                  3.20     Insurance. The Company maintains insurance against
such losses and risks and in such amounts as the Company believes in good faith
is adequate, prudent and customary for the businesses in which the Company and
its Subsidiary are engaged.

                  3.21     Material Agreements. Except as filed with or listed
in the exhibit index to the Filed SEC Documents or as otherwise made available
to the Purchasers, neither Company nor its Subsidiary is a party to any material
contract, as such contracts are defined in Item 601(a)(10) of Regulation S-K
under the Securities Act (each such contract, a "Company Contract"). To the
Company's knowledge, each Company Contract is valid, binding and in full force
and effect and is enforceable by the Company or its Subsidiary in accordance
with its terms, subject to applicable bankruptcy, insolvency, reorganization or
other laws affecting creditors' rights generally and by general equitable
principles. As of the date hereof, no party to any such Company Contract has
notified the Company or its Subsidiary that it intends to terminate such Company
Contract. The Company or its Subsidiary, as the case may be, has performed in
all respects all obligations required to be performed by it to date under the
Company Contracts and is not (with or without the lapse of time or the giving of
notice, or both) in breach or default in any respect thereunder and, to the
knowledge of Company, no other party to any of the Company Contracts, as of the
date hereof, is (with or without the lapse of time or the giving of notice, or
both) in breach or default in any respect thereunder, except to the extent that
such breach or default would not have a Material Adverse Effect.

                  3.22     Related Party Transactions. None of the officers or
directors of the Company or its Subsidiary and, to the knowledge of the Company,
none of their respective employees is presently a party to any transaction with
the Company or its Subsidiary, including any contract, agreement or other
arrangement providing for the furnishing of services to or by, providing for
rental of real or personal property to or from, or otherwise requiring payments
to or from any officer, director or such employee or, to the knowledge of the
Company, any entity in

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which any officer, director, or any such employee has a substantial interest or
is an officer, director, trustee or partner.

                  3.23     Taxes. The Company and its Subsidiary have timely
made or filed all federal, state and foreign income and all other tax returns,
reports and declarations required by any jurisdiction to which they are subject
(unless and only to the extent that the Company and its Subsidiary have set
aside on their respective or consolidated books provisions reasonably adequate
for the payment of all unpaid and unreported taxes) and have timely paid all
taxes and other governmental assessments and charges that are material in
amount, shown or determined to be due on such returns, reports and declarations,
except those being contested in good faith, and have set aside on its books
provisions reasonably adequate for the payment of all taxes for periods
subsequent to the periods to which such returns, reports or declarations apply.
To the knowledge of the Company, there are no unpaid taxes in any material
amount claimed to be due by the taxing authority of any jurisdiction, and the
Company knows of no basis for any such claim. Neither the Company nor its
Subsidiary has executed a waiver with respect to the statute of limitations
relating to the assessment or collection of any foreign, federal, state or local
tax. None of the Company's or its Subsidiary's tax returns is presently being
audited by any taxing authority.

                  3.24     BEXXAR Therapy. BEXXAR therapy is being developed and
tested, and all applications for the approval thereof are, in substantial
compliance with applicable law and regulations issued and enforced by U.S. Food
and Drug Adminsistration (the "FDA"), including the Federal Food, Drug and
Cosmetics Act and the regulations thereunder. The Company is not aware of any
facts which it believes are reasonably likely to cause the nonapproval or denial
of its Biologics License Application currently under review by the FDA for
treatment of non-Hodgkins lymphoma.

         4.       Representations and Warranties of the Purchasers. Each
Purchaser severally for itself, and not jointly with the other Purchasers,
represents and warrants to, and covenants with, the Company as follows:

                  4.1      Authorization. All action on the part of such
Purchaser and, if applicable, its officers, directors and stockholders necessary
for the authorization, execution, delivery and performance of the Operative
Agreements and the consummation of the transactions contemplated therein has
been taken. When executed and delivered by such Purchaser, each of the Operative
Agreements will constitute the legal, valid and binding obligation of such
Purchaser, enforceable against such Purchaser in accordance with its terms,
except as such may be limited by bankruptcy, insolvency, reorganization or other
laws affecting creditors' rights generally and by general equitable principles.
Such Purchaser has all requisite power to enter into each of the Operative
Agreements and to carry out and perform its obligations under the terms of the
Operative Agreements.

                  4.2      Information. Such Purchaser has received, reviewed
and considered all information it deems necessary in making an informed decision
to make an investment in the Securities; provided that nothing in this sentence
shall lessen or obviate the representations and warranties set forth in Section
3 hereof.

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                  4.3      Purchase Entirely for Own Account. Such Purchaser is
acquiring the Securities being purchased by it hereunder for investment, for its
own account, and not for resale or with a view to distribution thereof in
violation of the Securities Act.

                  4.4      Investor Status. Such Purchaser has the knowledge and
experience in financial and business matters as to be capable of evaluating the
merits and risks of an investment in the Securities. Such Purchaser certifies
and represents to the Company that it is an "Accredited Investor" as defined in
Rule 501 of Regulation D promulgated under the Securities Act and was not
organized for the purpose of acquiring the Securities. Such Purchaser's
financial condition is such that it is able to bear the risk of holding the
Securities for an indefinite period of time and the risk of loss of its entire
investment.

                  4.5      Confidential Information. Such Purchaser understands
that, except for the Filed SEC Documents, any nonpublic information provided to
such Purchaser by the Company in connection with the offering contemplated by
this Agreement, including, without limitation, the existence and nature of
discussions regarding this offering, the Operative Agreements and any other
presentations or nonpublic information given by the Company to Purchaser
(collectively, the "Nonpublic Information") is strictly confidential and is
being submitted to Purchaser solely for such Purchaser's confidential use in
connection with its investment decision regarding the Securities. Such Purchaser
agrees to use such Nonpublic Information for the sole purpose of evaluating a
possible investment in the Securities and such Purchaser hereby acknowledges
that it is prohibited from reproducing, distributing, divulging or discussing
such Nonpublic Information, in whole or in part, except for use internally and
by its legal counsel, except as required to comply with applicable law or legal
process, or except to the extent that such Nonpublic Information becomes
publicly disclosed by the Company or a third party (other than as a result of a
breach hereof by such Purchaser). Such Purchaser hereby acknowledges that it is
aware that the United States securities laws prohibit any person who has
material nonpublic information about a company from purchasing or selling
securities of such company.

                  4.6      Shares Not Registered. Such Purchaser understands
that none of the Securities have been registered under the Securities Act, by
reason of their issuance by the Company in a transaction exempt from the
registration requirements of the Securities Act, and that the Securities must
continue to be held by such Purchaser unless a subsequent disposition thereof is
registered under the Securities Act or is exempt from such registration. The
Purchaser understands that the exemptions from registration afforded by Rule 144
(the provisions of which are known to it) promulgated under the Securities Act
depend on the satisfaction of various conditions, and that, if applicable, Rule
144 may afford the basis for sales only in limited amounts.

                  4.7      No Conflict. The execution and delivery of the
Operative Agreements by such Purchaser and the consummation of the transactions
contemplated thereby will not conflict with or result in any violation of any
provision of the charter or other organizational documents of such Purchaser.

                  4.8      Brokers. Such Purchaser has not retained or been
represented by any broker or finder in connection with the transactions
contemplated by this Agreement.

                                       10

<PAGE>

                  4.9      Consents. All consents, approvals, orders and
authorizations required on the part of such Purchaser in connection with the
execution, delivery or performance of this Agreement and the consummation of the
transactions contemplated herein have been obtained and are effective as of the
Closing Date.

                  4.10     No Intent To Effect a Change of Control. Such
Purchaser has no present intent to change or influence the control of the
Company within the meaning of Rule 13d-1 of the Exchange Act, except for such
influence that may arise by reason of the board designee of the Majority
Purchasers, as contemplated hereby. Such Purchaser will not, immediately after
giving effect to the transactions contemplated hereby, beneficially own (as such
term is defined under the Exchange Act) shares of the Company's capital stock
constituting more than ten percent (10%) of the outstanding voting stock of the
Company.

                  4.11     Legends. Each Purchaser understands and agrees that
each certificate in respect of any of the Shares or the Underlying Shares, and
each Warrant, shall be endorsed with a legend substantially in the form set
forth below, and each Purchaser covenants that, except to the extent such
restrictions are waived by the Company, it shall not transfer any Warrants, or
any Shares or Underlying Shares represented by any such certificate, without
complying with the legends endorsed on such certificate:

                  THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
                  REGISTERED UNDER THE SECURITIES ACT OF 1933 OR APPLICABLE
                  STATE SECURITIES LAWS (COLLECTIVELY, THE "ACTS"). NO INTEREST
                  IN SUCH SHARES MAY BE SOLD, ENCUMBERED OR OTHERWISE
                  TRANSFERRED UNLESS (I) THERE IS AN EFFECTIVE REGISTRATION
                  STATEMENT UNDER THE ACTS COVERING THE TRANSACTION, (II) THE
                  COMPANY RECEIVES AN OPINION OF COUNSEL SATISFACTORY TO THE
                  COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACTS,
                  OR (III) THE COMPANY OTHERWISE SATISFIES ITSELF THAT
                  REGISTRATION IS NOT REQUIRED UNDER THE ACTS.

         5.       Conditions Precedent.

                  5.1      Conditions to the Obligation of the Purchasers To
Consummate the Closing. The obligation of each Purchaser to consummate the
Closing and to purchase and pay for the Securities being purchased by it
pursuant to this Agreement is subject to the satisfaction of the following
conditions precedent:

                           (a)      The representations and warranties of the
Company contained herein shall be true and correct on and as of the Closing Date
with the same force and effect as though made on and as of the Closing Date (it
being understood and agreed by each Purchaser that, in the case of any
representation and warranty of the Company contained herein which is not
hereinabove qualified by application thereto of a materiality standard, such
representation and warranty need be true and correct only in all material
respects in order to satisfy as to such

                                       11

<PAGE>

representation or warranty the condition precedent set forth in the foregoing
provisions of this Section 5.1(a)).

                           (b)      The Registration Rights Agreement shall have
been executed and delivered by the Company.

                           (c)      The Company shall not have suffered any
Material Adverse Effect prior to the Closing Date, and the Company shall have
performed in all material respects all obligations and conditions herein
required to be performed or observed by the Company on or prior to the Closing
Date.

                           (d)      No proceeding challenging this Agreement or
the transactions contemplated hereby, or seeking to prohibit, alter, prevent or
delay the Closing, shall have been instituted before any court, arbitrator or
governmental body, agency or official and shall be pending.

                           (e)      The purchase of and payment for the
Securities by the Purchasers shall not be prohibited by any law or governmental
order or regulation. All necessary consents, approvals, licenses, permits,
orders and authorizations of, or registrations, declarations and filings with,
any governmental or administrative agency with respect to any of the
transactions contemplated hereby shall have been duly obtained or made and shall
be in full force and effect.

                           (f)      The Purchasers shall have received a legal
opinion from counsel to the Company in the form attached hereto as Exhibit C.

                           (g)      The Purchasers shall have received a
certificate executed by the chief executive officer and the chief financial or
accounting officer of the Company, dated the Closing Date, in form and substance
reasonably satisfactory to the Purchasers, to the effect that (i) the
representations and warranties of the Company set forth in Section 3 of this
Agreement are true and correct as of the Closing Date and (ii) the Company has
complied in all material respects with all the agreements and satisfied all the
conditions herein on its part to be performed or satisfied on or prior to such
Closing Date.

                           (h)      The Purchasers shall have received a
certificate executed by the secretary of the Company, dated the Closing Date,
certifying as to the authenticity and effectiveness of the actions of the
Company's Board of Directors in approving the transactions contemplated hereby
and the validity of the Restated Certificate and the Bylaws.

                           (i)      The Company shall have executed and
delivered a definitive Purchase Agreement (the "Notes Purchase Agreement")
related to the offer and sale of Convertible Notes for aggregate proceeds to the
Company of not less than $75,000,000.

                           (j)      The Company shall have increased the size of
its board of directors to eight (8) directors and shall have appointed Ronald M.
Hunt to the directorship created by such increase.

                  5.2      Conditions to the Obligation of the Company To
Consummate the Closing. The obligation of the Company to consummate the Closing
and to issue and sell to each

                                       12

<PAGE>

Purchaser the Securities to be purchased by it at the Closing is subject to the
satisfaction of the following conditions precedent:

                           (a)      The representations and warranties of such
Purchaser contained herein shall be true and correct on and as of the Closing
Date with the same force and effect as though made on and as of the Closing Date
(it being understood and agreed by the Company that, in the case of any
representation and warranty of each Purchaser contained herein which is not
hereinabove qualified by application thereto of a materiality standard, such
representation and warranty need be true and correct only in all material
respects in order to satisfy as to such representation or warranty the condition
precedent set forth in the foregoing provisions of this Section 5.2(a)).

                           (b)      The Registration Rights Agreement shall have
been executed and delivered by each Purchaser.

                           (c)      Each Purchaser shall have performed in all
material respects all obligations and conditions herein required to be performed
or observed by the Purchasers on or prior to the Closing Date.

                           (d)      No proceeding challenging this Agreement or
the transactions contemplated hereby, or seeking to prohibit, alter, prevent or
delay the Closing, shall have been instituted before any court, arbitrator or
governmental body, agency or official and shall be pending.

                           (e)      The sale of the Securities by the Company
shall not be prohibited by any law or governmental order or regulation. All
necessary consents, approvals, licenses, permits, orders and authorizations of,
or registrations, declarations and filings with, any governmental or
administrative agency with respect to any of the transactions contemplated
hereby shall have been duly obtained or made and shall be in full force and
effect.

         6.       Termination; Liabilities Consequent Thereon. This Agreement
may be terminated and the transactions contemplated hereunder abandoned at any
time prior to the Closing only as follows:

                  (a)               by either the Purchasers or the Company if
the Closing shall not have occurred by June 30, 2003; provided, however, that
the right to terminate this Agreement pursuant to this Section 7(a) shall not be
available to any party whose failure to fulfill any obligation under this
Agreement has been the cause of, or resulted in, the failure of the Closing to
occur before such date; or

                  (b)               at any time by mutual agreement of the
Company and the Purchasers; or

                  (c)               by the Purchasers, if there has been any
breach of any representation or warranty or any material breach of any covenant
of the Company contained herein and the same has not been cured within 15 days
after notice thereof, (it being understood and agreed by each Purchaser that, in
the case of any representation or warranty of the Company contained herein which
is not hereinabove qualified by application thereto of a materiality

                                       13

<PAGE>

standard, such representation or warranty will be deemed to have been breached
for purposes of this Section 6.1(c) only if such representation or warranty was
not true and correct in all material respects at the time such representation or
warranty was made by the Company); or

                  (d)               by the Company, if there has been any breach
of any representation, warranty or any material breach of any covenant of any
Purchaser contained herein and the same has not been cured within 15 days after
notice thereof (it being understood and agreed by the Company that, in the case
of any representation and warranty of the Purchaser contained herein which is
not hereinabove qualified by application thereto of a materiality standard, such
representation or warranty will be deemed to have been breached for purposes of
this Section 6.1(d) only if such representation or warranty was not true and
correct in all material respects at the time such representation or warranty was
made by such Purchaser).

                  Any termination pursuant to this Section 7 shall be without
liability on the part of any party, unless such termination is the result of a
material breach of this Agreement by a party to this Agreement in which case
such breaching party shall remain liable for such breach notwithstanding any
termination of this Agreement.

         7.       Miscellaneous Provisions.

                  7.1      Public Statements or Releases. Prior to the issuance
by the Company of a press release announcing the transaction contemplated by
this Agreement (which press release shall be reasonably acceptable to the
Purchasers), no Purchaser shall make, issue, or release any announcement,
whether to the public generally, or to any of its suppliers or customers, with
respect to this Agreement or the transactions provided for herein, or make any
statement or acknowledgment of the existence of, or reveal the status of, this
Agreement or the transactions provided for herein, without the prior consent of
the Company.

                  7.2      Further Assurances. Each party agrees to cooperate
fully with the other party and to execute such further instruments, documents
and agreements and to give such further written assurances, and to take such
further actions, as may be reasonably requested by the other party to better
evidence and reflect the transactions described herein and contemplated hereby,
and to carry into effect the intents and purposes of this Agreement.

                  7.3      Rights Cumulative. Each and all of the various
rights, powers and remedies of the parties shall be considered to be cumulative
with and in addition to any other rights, powers and remedies which such parties
may have at law or in equity in the event of the breach of any of the terms of
this Agreement. The exercise or partial exercise of any right, power or remedy
shall neither constitute the exclusive election thereof nor the waiver of any
other right, power or remedy available to such party.

                  7.4      Pronouns; Interpretations. All pronouns or any
variation thereof shall be deemed to refer to the masculine, feminine or neuter,
singular or plural, as the identity of the person, persons, entity or entities
may require. The definitions contained in this Agreement are applicable to the
singular as well as the plural. whenever the words "include," "includes" or
"including" are used in this Agreement, they shall be deemed to be followed by
the words "without limitation."

                                       14

<PAGE>

                  7.5      Notices. Any notice required or permitted by this
Agreement shall be in writing and shall be sufficient upon receipt, when
delivered personally or by courier, overnight delivery service or confirmed
facsimile, or forty-eight hours after being deposited in the regular mail as
certified or registered mail (airmail if sent internationally) with postage
prepaid, if such notice is addressed to the party to be notified at such party's
address or facsimile number as set forth below (if to the Company) or as set
forth in Exhibit A (if to a Purchaser), or as subsequently modified by written
notice:

                  If to the Company:         Corixa Corporation
                                             1124 Columbia Street
                                             Suite 200
                                             Seattle, WA 98104
                                             Facsimile No.: (206) 754-5994
                                             Attn: Michelle Burris

                  With a copy to:            Orrick, Herrington & Sutcliffe LLP
                                             719 Second Avenue
                                             Suite 900
                                             Seattle, WA 98104
                                             Facsimile No.: (206) 839-4301
                                             Attn: Stephen M. Graham
                                                   Alan C. Smith

                  7.6      Captions. The captions and paragraph headings of this
Agreement are solely for the convenience of reference and shall not affect the
interpretation of this Agreement.

                  7.7      Severability. Should any part or provision of this
Agreement be held unenforceable or in conflict with the applicable laws or
regulations of any jurisdiction, the invalid or unenforceable part or provisions
shall be replaced with a provision which accomplishes, to the extent possible,
the original business purpose of such part or provision in a valid and
enforceable manner, and the remainder of this Agreement shall remain binding
upon the parties hereto.

                  7.8      Governing Law. This Agreement shall be governed by
and construed in accordance with the internal and substantive laws of the state
of Delaware and without regard to any conflicts of laws concepts which would
apply the substantive law of some other jurisdiction.

                  7.9      Waiver. No waiver of any term, provision or condition
of this Agreement, whether by conduct or otherwise, in any one or more
instances, shall be deemed to be, or be construed as, a further or continuing
waiver of any such term, provision or condition or as a waiver of any other
term, provision or condition of this Agreement.

                  7.10     Expenses. Except as provided herein or in the
Registration Rights Agreement, each party will bear its own costs and expenses
in connection with this Agreement; provided, however, that the Company shall pay
the reasonable fees and expenses of the legal advisors (including anticipated
legal fees for preparation and filing of any required Schedule 13D

                                       15

<PAGE>

and Form 4) and due diligence consultants for the Purchasers, in an aggregate
amount not in excess of $100,000.

                  7.11     Assignment. The rights and obligations of the parties
hereto shall inure to the benefit of and shall be binding upon the authorized
successors and permitted assigns of each party. Neither party may assign its
rights or obligations under this Agreement or designate another person (i) to
perform all or part of its obligations under this Agreement or (ii) to have all
or part of its rights and benefits under this Agreement, in each case without
the prior written consent of the other party. In the event of any assignment in
accordance with the terms of this Agreement, the assignee shall specifically
assume and be bound by the provisions of the Agreement by executing and agreeing
to an assumption agreement reasonably acceptable to the other party.

                  7.12     Survival. The respective representations and
warranties given by the parties hereto, and the other covenants and agreements
contained herein, shall survive the Closing Date and the consummation of the
transactions contemplated herein, without regard to any investigation made by
any party.

                  7.13     Counterpart. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument.

                  7.14     Entire Agreement; Amendments. This Agreement and the
Registration Rights Agreement constitute and contain the entire agreement and
understanding of the parties with respect to the subject matter hereof, and also
supersede any and all prior negotiations, correspondence, agreements or
understandings with respect to the subject matter hereof. No modification,
alteration, waiver or change in any of the terms of this Agreement shall be
valid or binding upon the parties hereto unless made in writing and duly
executed by the Company and the Majority Purchasers.

                            [Signature Page Follows]

                                       16

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Securities
Purchase Agreement under seal as of the day and year first above written.

                                             THE COMPANY:

                                             CORIXA CORPORATION

                                             By: /s/ Steven Gillis
                                             Name:   Steven Gillis
                                             Title:  CEO

                                             Address:   1224 Columbia Street
                                                        Suite 200
                                                        Seattle, WA 98104
                                             Telephone: (206) 754-5711
                                             Facsimile: (206) 754-5994

                                             PURCHASERS:

                                             SPROUT IX PLAN INVESTORS, L.P.

                                             By DLJ LBO Plans Management
                                             Corporation II, its General Partner

                                             By: /s/ Ronald M. Hunt
                                                 Ronald M. Hunt
                                                 Its: Attorney in Fact

                                             Address:  Eleven Madison Ave.,
                                                       NY, NY 10010-3629

                                             Telephone: 212-538-8667
                                             Facsimile: 212-538-8245

                                       17

<PAGE>

                                             SPROUT ENTREPRENEURS FUND, L.P.

                                             By DLJ Capital Corporation, its
                                             General Partner

                                             By: /s/ Ronald M. Hunt
                                                 _______________________________
                                                 Ronald M. Hunt
                                                 Its: Director

                                             Address:   Eleven Madison Ave
                                                        ________________________
                                                        NY, NY 10010-3629
                                                        ________________________
                                             Telephone: 212-538-8667
                                                        ________________________
                                             Facsimile: 212-538-8245
                                                        ________________________

                                             SPROUT CAPITAL IX, L.P.

                                             By DLJ Capital Corporation, its
                                             General Partner

                                             By: /s/ Ronald M. Hunt
                                                 _______________________________
                                                 Ronald M. Hunt
                                                 Its: Director

                                             Address:   Eleven Madison Ave
                                                        ________________________
                                                        NY, NY 10010-3629
                                                        ________________________
                                             Telephone: 212-538-8667
                                                        ________________________
                                             Facsimile: 212-538-8245
                                                        ________________________

                                             DLJ CAPITAL CORPORATION

                                             By: /s/ Ronald M. Hunt
                                                 _______________________________
                                                 Ronald M. Hunt
                                                 Its: Director

                                             Address:   Eleven Madison Ave
                                                        ________________________
                                                        NY, NY 10010-3629
                                                        ________________________
                                             Telephone: 212-538-8667
                                                        ________________________
                                             Facsimile: 212-538-8245
                                                        ________________________

                                       18

<PAGE>

                                    EXHIBIT A

                                   PURCHASERS

<TABLE>
<CAPTION>
                                        AGGREGATE PURCHASE PRICE
         PURCHASER                           (APPROXIMATE)
----------------------------------------------------------------
<S>                                     <C>
Sprout IX Plan Investors, L.P.               $  1,316,544
----------------------------------------------------------------

Sprout Entrepreneurs Fund, L.P.              $    112,352
----------------------------------------------------------------

Sprout Capital IX, L.P.                      $ 28,508,618
----------------------------------------------------------------

DLJ Capital Corporation                      $     62,486
----------------------------------------------------------------

TOTAL                                        $ 30,000,000
----------------------------------------------------------------
</TABLE>

<PAGE>

                                   APPENDIX I

                               CORIXA CORPORATION

                             PURCHASER QUESTIONNAIRE

         Pursuant to Section 2.2 of the Securities Purchase Agreement, please
provide us with the following information:

1.       The exact name that your Shares and Warrants are to be registered in
         (this is the name that will appear on your stock certificate(s)). You
         may use a nominee name if appropriate:
         ___________________________________

2.       The relationship between the Purchaser of the Shares and Warrants and
         the Registered Holder listed in response to item 1 above:
         __________________________________

3.       The mailing address of the Registered Holder listed in response to item
         1 above:
         ___________________________________
         ___________________________________
         ___________________________________
         ___________________________________

4.       The Social Security Number or Tax Identification Number of the
         Registered Holder listed in response to item 1 above:
         ___________________________________<PAGE>

                                                                    EXHIBIT 10.2

                          REGISTRATION RIGHTS AGREEMENT

         This REGISTRATION RIGHTS AGREEMENT (this "Agreement") is dated as of
the 13th day of June, 2003, by and between (i) Corixa Corporation, a
Delaware corporation (the "Company"), (ii) each person listed on Exhibit A
attached hereto (collectively, the "Initial Investors" and each individually, an
"Initial Investor"), and (iii) each person or entity that subsequently becomes a
party to this Agreement pursuant to, and in accordance with, the provisions of
Section 11 hereof (collectively, the "Investor Permitted Transferees" and each
individually an "Investor Permitted Transferee").

         WHEREAS, the Company has agreed to issue and sell to the Initial
Investors, and the Initial Investors have agreed to purchase from the Company,
shares (the "Purchased Shares") of the Company's common stock, $0.001 par value
per share (the "Common Stock") and warrants to purchase ___ shares of Common
Stock for every Purchased Share purchased (the "Warrants"), all upon the terms
and conditions set forth in that certain Securities Purchase Agreement, dated
June 8, 2003, between the Company and the Initial Investors (the "Purchase
Agreement"); and

         WHEREAS, the terms of the Purchase Agreement provide that it shall be a
condition precedent to the closing of the transactions thereunder for the
Company and the Initial Investors to execute and deliver this Agreement.

         NOW THEREFORE, in consideration of the premises and mutual covenants
herein contained, the parties hereto agree as follows:

         1.       DEFINITIONS. As used in this Agreement, the following terms
shall have the following respective meanings:

         "Board" shall mean the board of directors of the Company.

         "Closing" shall have the meaning ascribed to such term in the Purchase
Agreement.

         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended, and all of the rules and regulations promulgated thereunder.

         "Investors" shall mean, collectively, the Initial Investors and the
Investor Permitted Transferees; provided, however, that the term "Investors"
shall not include any of the Initial Investors or any of the Investor Permitted
Transferees that ceases to own or hold any of its Securities.

         "Majority Holders" shall mean, at the relevant time of reference
thereto, those Investors holding and/or having the right to acquire, as the case
may be, more than a majority of the Registrable Shares then held by all of the
Investors.

         "Registrable Shares" shall mean the Purchased Shares and the Underlying
Shares prior to the Mandatory Registration Termination Date (as defined below).

         "Rule 144" shall mean Rule 144 promulgated under the Securities Act and
any successor or substitute rule, law or provision.

<PAGE>

         "SEC" shall mean the Securities and Exchange Commission.

         "Securities" shall mean the Purchased Shares, the Underlying Shares and
the Warrants.

         "Securities Act" shall mean the Securities Act of 1933, as amended, and
all of the rules and regulations promulgated thereunder.

         "Suspension Period" shall mean each period of time during which the
right of the selling Investors to use the Registration Statement (and the
prospectus relating thereto) is delayed or suspended pursuant to Sections 4(c)
or 9 hereof.

         "Underlying Shares" shall mean the shares of Common Stock issuable upon
exercise of the Warrants.

         2.       EFFECTIVENESS. This Agreement shall become effective and
legally binding only if the Closing occurs.

         3.       MANDATORY REGISTRATION.

                  (a)      No later than 10 business days after the Closing, the
Company will prepare and file with the SEC a registration statement on Form S-3
for the purpose of registering under the Securities Act all of the Registrable
Shares for resale by, and for the account of, the Investors as selling
stockholders thereunder (the "Registration Statement"). Unless otherwise
directed in writing by the Majority Holders, the Registration Statement shall
contain the Plan of Distribution attached hereto as Exhibit C. The Registration
Statement shall permit the Investors to offer and sell, on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act, any or all of
the Registrable Shares. In the event that the Registration Statement is reviewed
by the staff of the SEC, then prior to the effectiveness of the Registration
Statement, the Company shall respond in writing to any comment letter issued by
the SEC relating to the Registration Statement within 5 business days after
receipt of such SEC comment letter. The Company agrees to use reasonable efforts
to cause the Registration Statement to become effective as soon as practicable,
but in no event later than 90 days after the Registration Statement is filed by
the Company.

                  (b)      The Company shall be required to keep the
Registration Statement effective until the earliest of (i) the date on which all
of the Investors may sell all of the Registrable Shares without restriction
pursuant to Rule 144(k) (or the successor rule thereto) promulgated under the
Securities Act, (ii) the date when all of the Registrable Shares registered
thereunder shall have been sold and (iii) the fifth anniversary of the Closing,
subject to extension as set forth below (such date is referred to herein as the
"Mandatory Registration Termination Date"). Thereafter, the Company shall be
entitled to withdraw the Registration Statement and the Investors shall have no
further right to offer or sell any of the Registrable Shares pursuant to the
Registration Statement (or any prospectus relating thereto). In the event the
right of the selling Investors to use the Registration Statement (and the
prospectus relating thereto) is delayed or suspended pursuant to Sections 4(c)
or 9 hereof, the Company shall be required to extend the Mandatory Registration
Termination Date beyond the fifth anniversary of the Closing by the same number
of days as such delay or Suspension (as defined in Section 9 hereof) is in
effect.

                                        2

<PAGE>

                  (c)      In the event that the Company does not (i) file the
Registration Statement within 10 business days after the Closing, (ii) deliver
its response letter to the SEC within 5 business days after receipt thereof,
(ii) obtain the effectiveness of the Registration Statement within 90 days after
the Registration Statement is filed by the Company or (iii) restrict the
occurrence and duration of Suspension Periods to not more than two, for not more
than an aggregate of 90 days, in any twelve-month period on or before the second
anniversary of the Closing, then the Company shall pay to each Investor 1.0% of
such Investor's aggregate purchase price per month (on a pro-rated basis) for
the period commencing on the required filing date, response date, effective date
or date on which there occurs a violation with respect to a Suspension Period,
as applicable, and ending on the date the Registration Statement is filed, the
response letter is delivered to the SEC, the Registration Statement is declared
effective or the Suspension Period terminates, as applicable.

         4.       OBLIGATIONS OF THE COMPANY. In connection with the Company's
obligation under Section 3 hereof to file the Registration Statement with the
SEC and to use its reasonable efforts to cause the Registration Statement to
become effective as soon as practicable, the Company shall, as expeditiously as
reasonably possible:

                  (a)      Prepare and file with the SEC such amendments and
supplements to the Registration Statement and the prospectus used in connection
therewith as may be necessary to keep the Registration Statement effective until
the Mandatory Registration Termination Date, including without limitation such
amendments and supplements as may be necessary to include any Investor Permitted
Transferees in the Registration Statement and related prospectus;

                  (b)      Furnish to the selling Investors such number of
copies of a prospectus, including a preliminary prospectus, in conformity with
the requirements of the Securities Act, and such other documents (including,
without limitation, prospectus amendments and supplements as are prepared by the
Company in accordance with Section 4(a) above) as the selling Investors may
reasonably request in order to facilitate the disposition of such selling
Investors' Registrable Shares;

                  (c)      Notify the selling Investors, at any time when a
prospectus relating to the Registration Statement is required to be delivered
under the Securities Act, of the happening of any event as a result of which the
prospectus included in or relating to the Registration Statement contains an
untrue statement of a material fact or omits any fact necessary to make the
statements therein not misleading; and, thereafter, the Company will, subject to
Section 9, promptly prepare (and, when completed, furnish an adequate number of
copies to each selling Investor) a supplement or amendment to such prospectus so
that, as furnished to the purchasers of such Registrable Shares, such prospectus
will not contain an untrue statement of a material fact or omit to state any
fact necessary to make the statements therein not misleading; provided that upon
such notification by the Company, the selling Investors will not offer or sell
Registrable Shares until the Company has notified the selling Investors that it
has prepared a supplement or amendment to such prospectus and delivered copies
of such supplement or amendment to the selling Investors (it being understood
and agreed by the Company that the foregoing proviso shall in no way diminish or
otherwise impair the Company's obligation, subject to Section 9, to promptly
prepare a prospectus amendment or supplement as above provided in this Section
4(c) and deliver copies of same as above provided in Section 4(b) hereof); and

                                       3

<PAGE>

                  (d)      Use reasonable efforts to register and qualify the
Registrable Shares covered by the Registration Statement under such other
securities or blue sky laws of such jurisdictions as shall be reasonably
appropriate in the opinion of the Company, provided that the Company shall not
be required in connection therewith or as a condition thereto to qualify to do
business or to file a general consent to service of process in any such states
or jurisdictions, and provided further that (notwithstanding anything in this
Agreement to the contrary with respect to the bearing of expenses) if any
jurisdiction in which any of such Registrable Shares shall be qualified shall
require that expenses incurred in connection with the qualification therein of
any such Registrable Shares be borne by the selling Investors, then the selling
Investors shall, to the extent required by such jurisdiction, pay their pro rata
share of such qualification expenses.

                  (e)      Subject to the terms and conditions of this
Agreement, the Company shall use reasonable efforts to (i) prevent the issuance
of any stop order or other suspension of effectiveness of a Registration
Statement, or the suspension of the qualification of any of the Registrable
Shares for sale in any jurisdiction in the United States, (ii) if such an order
or suspension is issued, obtain the withdrawal of such order or suspension at
the earliest practicable moment and notify each holder of Registrable Shares of
the issuance of such order and the resolution thereof or its receipt of notice
of the initiation or threat of any proceeding such purpose.

                  (f)      The Company shall (i) timely notify the Nasdaq
National Market of the issuance of the Securities and (ii) engage a transfer
agent and registrar to maintain the Company's stock ledger for all Registrable
Shares covered by the Registration Statement not later than the effective date
of the Registration Statement.

         5.       FURNISH INFORMATION. It shall be a condition precedent to the
obligations of the Company to take any action pursuant to this Agreement that
each selling Investor shall complete the Registration Statement Questionnaire
attached hereto as Appendix I, and shall furnish to the Company such other
information regarding it and the securities held by it as the Company shall
reasonably request and as shall be required in order to effect any registration
by the Company pursuant to this Agreement.

         6.       EXPENSES OF REGISTRATION. All expenses incurred in connection
with the registration of the Registrable Shares pursuant to this Agreement
(excluding underwriting, brokerage and other selling commissions and discounts),
including without limitation (a) all registration and qualification and filing
fees, (b) printing, and (c) fees and disbursements of counsel for the Company,
and (d) one counsel for the Initial Investors shall be borne by the Company;
provided, however, that the aggregate amount of fees and disbursements that the
Company shall be obligated to bear pursuant to Section 6(d) and Section 7.1 of
the Purchase Agreement shall not exceed $100,000.

         7.       INDEMNIFICATION.

                  (a)      The Company will indemnify and hold harmless each
selling Investor, each partner, former partner, officer and director of such
selling Investor, and each person, if any, who controls such selling Investor,
within the meaning of the Securities Act, against any losses, claims, damages or
liabilities, joint or several, to which they may become subject under

                                       4

<PAGE>

the Securities Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon any
untrue or alleged untrue statement of any material fact contained in the
Registration Statement, in any preliminary prospectus or final prospectus
relating thereto or in any amendments or supplements to the Registration
Statement or any such preliminary prospectus or final prospectus, or arise out
of or are based upon the omission or alleged omission to state therein a
material fact required to be stated therein, or necessary to make the statements
therein not misleading, or arise out of or are based upon any failure by the
Company to fulfill any undertaking included in the Registration Statement; and
will reimburse such selling Investor or any such partner, former partner
officer, director or controlling person, for any legal or other expenses
reasonably incurred by them in connection with investigating or defending any
such loss, claim, damage, liability or action; provided, however, that the
indemnity agreement contained in this Section 7(a) shall not apply to amounts
paid in settlement of any such loss, claim, damage, liability or action if such
settlement is effected without the consent of the Company (which consent shall
not be unreasonably withheld), nor shall the Company be liable in any such case
for any such loss, damage, liability or action to the extent that it arises out
of or is based upon (i) an untrue statement or alleged untrue statement or
omission made in connection with the Registration Statement, any preliminary
prospectus or final prospectus relating thereto or any amendments or supplements
to the Registration Statement or any such preliminary prospectus or final
prospectus, in reliance upon and in conformity with written information
furnished expressly for use in connection with the Registration Statement or any
such preliminary prospectus or final prospectus by such selling Investors, or
(ii) an untrue statement or alleged untrue statement or omission in the
Registration Statement or any prospectus that is corrected in any subsequent
amendment or supplement to the Registration Statement or prospectus that was
delivered to the selling Investor before the pertinent sale or sales by the
selling Investor.

                  (b)      Each selling Investor will severally and not jointly
indemnify and hold harmless the Company, each of its directors, each of its
officers who have signed the Registration Statement, each person, if any, who
controls the Company within the meaning of the Securities Act, and all other
selling Investors against any losses, claims, damages or liabilities to which
the Company or any such director, officer, controlling person or such other
selling Investor may become subject to, under the Securities Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect
thereto) arise out of or are based upon any untrue or alleged untrue statement
of any material fact contained in the Registration Statement or any preliminary
prospectus or final prospectus, relating thereto or in any amendments or
supplements to the Registration Statement or any such preliminary prospectus or
final prospectus, or arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, in each case to the
extent and only to the extent that such untrue statement or alleged untrue
statement or omission (i) was made in the Registration Statement, in any
preliminary prospectus or final prospectus relating thereto or in any amendments
or supplements to the Registration Statement or any such preliminary prospectus
or final prospectus, in reliance upon and in conformity with written
information furnished by such selling Investor expressly for use in connection
with the Registration Statement, or any preliminary prospectus or final
prospectus, or (ii) was corrected in any subsequent amendment or supplement to
the Registration Statement or prospectus that was delivered to the selling
Investor before the pertinent sale or sales by the selling Investor and such
corrected amendment or supplement to the Registration

                                       5

<PAGE>

Statement or prospectus was not delivered to the purchaser; and such selling
Investor will reimburse any legal or other expenses reasonably incurred by the
Company or any such director, officer, controlling person or other selling
Investor in connection with investigating or defending any such loss, claim,
damage, liability or action, provided, however, that the liability of each
selling Investor hereunder shall be limited to the proceeds received by such
selling Investor from the sale of Registrable Shares covered by the
Registration Statement, and provided further, that the indemnity agreement
contained in this Section 7(b) shall not apply to amounts paid in settlement of
any such loss, claim, damage, liability or action if such settlement is
effected without the consent of those selling Investor(s) against which the
request for indemnity is being made (which consent shall not be unreasonably
withheld).

                  (c)      Promptly after receipt by an indemnified party under
this Section 7 of notice of the commencement of any action, such indemnified
party will, if a claim in respect thereof is to be made against any indemnifying
party under this Section 7, notify the indemnifying party in writing of the
commencement thereof and the indemnifying party shall have the right to
participate in and, to the extent the indemnifying party desires, jointly with
any other indemnifying party similarly noticed, to assume at its expense the
defense thereof with counsel mutually satisfactory to the indemnifying parties
and indemnified parties (which counsel shall not, except with the written
consent of the indemnified party or parties, be counsel to the indemnifying
party or parties). In the event that the indemnifying party assumes any such
defense, the indemnified party may participate in such defense with its own
counsel and at its own expense, provided, however, that the counsel for the
indemnifying party shall act as lead counsel in all matters pertaining to such
defense or settlement of such claim and the indemnifying party shall only pay
for such indemnified party's expenses for the period prior to the date of its
participation on such defense. The failure to notify an indemnifying party
promptly of the commencement of any such action shall not relieve such
indemnifying party of any liability to the indemnified party under this Section
7 except to the extent that such indemnifying party is materially prejudiced
thereby.

                  (d)      Notwithstanding anything to the contrary herein, the
indemnifying party shall not be entitled to settle any claim, suit or proceeding
arising out of or based upon any untrue or alleged untrue statement of any
material fact contained in the Registration Statement or any preliminary
prospectus or final prospectus, relating thereto or in any amendments or
supplements to the Registration Statement or any such preliminary prospectus or
final prospectus, or arising out of or based upon the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, unless in connection
with such settlement, the indemnified party receives an unconditional release
with respect to the subject matter of such claim, suit or proceeding and such
settlement does not contain any admission of fault by the indemnified party.

                  (e)      If the indemnification provided for in this Section 7
is unavailable to or insufficient to hold harmless an indemnified party under
subsection (a) or (b) above in respect of any losses, claims, damages or
liabilities (or actions or proceedings in respect thereof) referred to therein,
then each indemnifying party shall contribute to the amount paid or payable by
such indemnified party as a result of such losses, claims, damages or
liabilities (or actions in respect thereof) in such proportion as is appropriate
to reflect the relative fault of the Company on the one hand and the Investors
on the other in connection with the statements or omissions or other

                                       6

<PAGE>

matters which resulted in such losses, claims, damages or liabilities (or
actions in respect thereof), as well as any other relevant equitable
considerations. The relative fault shall be determined by reference to, among
other things, in the case of an untrue statement, whether the untrue statement
relates to information supplied by the Company on the one hand or an Investor on
the other and the parties' relative intent, knowledge, access to information and
opportunity to correct or prevent such untrue statement. The Company and the
Investors agree that it would not be just and equitable if contribution pursuant
to this subsection (e) were determined by pro rata allocation (even if the
Investors were treated as one entity for such purpose) or by any other method of
allocation which does not take into account the equitable considerations
referred to above in this subsection (e). The amount paid or payable by an
indemnified party as a result of the losses, claims, damages or liabilities (or
actions in respect thereof) referred to above in this subsection (e) shall be
deemed to include any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such action
or claim. Notwithstanding the provisions of this subsection (e), no Investor
shall be required to contribute any amount in excess of the amount by which the
gross amount received by the Investor from the sale of the Registrable Shares to
which such loss relates exceeds the amount of any damages which such Investor
has otherwise been required to pay by reason of such untrue statement. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation. The Investors' obligations in
this subsection to contribute are several in proportion to their sales of
Registrable Shares to which such loss relates and not joint.

                  (f)      The parties to this Agreement hereby acknowledge that
they are sophisticated business persons who were represented by counsel during
the negotiations regarding the provisions hereof including, without limitation,
the provisions of this Section 7, and are fully informed regarding said
provisions. They further acknowledge that the provisions of this Section 7
fairly allocate the risks in light of the ability of the parties to investigate
the Company and its business in order to assure that adequate disclosure is made
in the Registration Statement as required by the Securities Act and the Exchange
Act.

         8.       REPORTS UNDER THE EXCHANGE ACT. With a view to making
available to the Investors the benefits of Rule 144 and any other rule or
regulation of the SEC that may at any time permit the Investors to sell the
Registrable Shares to the public without registration, the Company covenants and
agrees: (i) to make and keep public information available, as those terms are
understood and defined in the General Instructions to Form S-3, or any successor
or substitute form, and in Rule 144, (ii) to file with the SEC in a timely
manner all reports and other documents required to be filed by an issuer of
securities registered under the Securities Act or the Exchange Act, (iii) as
long as any Investor owns any Securities, to furnish in writing upon such
Investor's request a written statement by the Company that it has complied with
the reporting requirements of Rule 144 and of the Securities Act and the
Exchange Act, and to furnish to such Investor a copy of the most recent annual
or quarterly report of the Company, and such other reports and documents so
filed by the Company as may be reasonably requested in availing such Investor of
any rule or regulation of the SEC permitting the selling of any such Registrable
Shares without registration and (iv) undertake any additional actions
commercially reasonable and necessary to maintain the availability of the
Registration Statement or the use of Rule 144.

                                       7

<PAGE>

         9.       DEFERRAL AND LOCK-UP.

                  (a)      Notwithstanding anything in this Agreement to the
contrary, in the event: (i) of any request by the SEC or any other federal or
state governmental authority during the period of effectiveness of the
Registration Statement for amendments or supplements to a Registration Statement
or related prospectus or for additional information; (ii) of the issuance by the
SEC or any other federal or state governmental authority of any stop order
suspending the effectiveness of a Registration Statement or the initiation of
any proceedings for that purpose; (iii) of the receipt by the Company of any
notification with respect to the suspension of the qualification or exemption
from qualification of any of the Registrable Shares for sale in any jurisdiction
or the initiation of any proceeding for such purpose; or (iv) of any event or
circumstance which necessitates the making of any changes in the Registration
Statement or related prospectus, or any document incorporated or deemed to be
incorporated therein by reference, so that, in the case of the Registration
Statement, it will not contain any untrue statement of a material fact or any
omission to state a material fact required to be stated therein or necessary to
make the statements therein not misleading, and that in the case of the
prospectus, it will not contain any untrue statement of a material fact or any
omission to state a material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they
were made, not misleading (a "Disclosure Event"); then the Company shall deliver
a certificate in writing to each Investor (the "Suspension Notice") to the
effect of the foregoing and, upon receipt of such Suspension Notice, the
Investor will (i) keep the fact of such certificate and its contents
confidential, and (ii) refrain from selling any Registrable Shares pursuant to
the Registration Statement (a "Suspension") until the Investor's receipt of
copies of a supplemented or amended prospectus prepared and filed by the
Company, or until it is advised in writing by the Company that the current
prospectus may be used, and has received copies of any additional or
supplemental filings that are incorporated or deemed incorporated by reference
in any such prospectus.

                  (b)      In the event of any Suspension, the Company will use
its best efforts to cause the use of the prospectus so suspended to be resumed
as soon as reasonably practicable after delivery of a Suspension Notice to the
Investors; provided, however, that if the Company shall state in the Suspension
Notice that the Board of Directors of the Company has determined in good faith
that premature disclosure of a Disclosure Event (i) would be materially adverse
to any proposed material transaction that is the subject of the Disclosure Event
or (ii) would make the successful consummation by the Company of such material
transaction significantly less likely, then the Company shall have the right to
extend the Suspension for up to the maximum period provided in Section 9(c)
below.

                  (c)      Notwithstanding the remainder of this Section 9, the
Investors shall not be prohibited from selling Registrable Shares under the
Registration Statement as a result of Suspensions on more than two occasions,
for not more than an aggregate of 90 days in any twelve-month period, unless, in
the good faith judgment of the Company's Board of Directors, upon advice of
counsel, the sale of Registrable Shares under the Registration Statement in
reliance on this paragraph would be reasonably likely to cause a violation of
the Securities Act or the Exchange Act and result in potential liability to the
Company. Provided that a Suspension is not then in effect, the Investors may
sell Registrable Shares under the Registration Statement,

                                       8

<PAGE>

provided that they arranges for delivery of a current prospectus to the
transferee of such Registrable Shares.

         10.      TRANSFER RESTRICTIONS.

                  (a)      Each Investor agrees that it will not sell, offer to
sell, solicit offers to buy, dispose of, loan, pledge or grant any right with
respect to (collectively, a "Disposition"), the Securities, nor will such
Investor engage in any hedging or other transaction which is designed to or
could be reasonably expected to lead to or result in a Disposition of Securities
by such Investor or any other person or entity unless (a) the Securities are
registered under the Securities Act, (b) the Securities are transferred in
compliance with Rule 144 under the Securities Act, (c) the Securities are
transferred to any affiliate, donee or distributee of such Investor in
compliance with the Securities Act or (d) such Investor shall have delivered to
the Company an opinion of counsel in form, substance and scope reasonably
acceptable to the Company, to the effect that registration is not required under
the Securities Act or any applicable state securities law due to the
applicability of an exemption therefrom. Such prohibited hedging or other
transactions would include, without limitation, effecting any short sale or
having in effect any short position (whether or not such sale or position is
against the box and regardless of when such position was entered into) or any
purchase, sale or grant of any right (including, without limitation, any put or
call option) with respect to the Securities or with respect to any security
(other than a broad-based market basket or index) that includes, relates to or
derives any significant part of its value from the Common Stock of the Company.

                  (b)      Such Investor acknowledges and agrees that the
Warrants are not transferable without the prior written consent of the Company,
except under the limited circumstances provided in the Warrants.

                  (c)      Such Investor acknowledges and agrees that no sales
of the Registrable Shares may be made under the Registration Statement and that
the Registrable Shares are not transferable on the books of the Company unless
the certificate submitted to the transfer agent evidencing the Registrable
Shares is accompanied by a separate Transfer Notice for Sales Pursuant to
Registration Statement: (i) in the form of Appendix II hereto; (ii) executed by
an officer of, or other authorized person designated by, the Investor; and (iii)
to the effect that (A) the Registrable Shares have been sold in accordance with
the Registration Statement, the Securities Act and any applicable state
securities or blue sky laws, and (B) the requirement of delivering a current
prospectus has been satisfied.

                  (d)      Each Investor understands and agrees that no action
has been or will be taken in any jurisdiction outside the United States by the
Company or the Placement Agent that would permit an offering of the Registrable
Shares, or possession or distribution of offering materials in connection with
the issue of Registrable Shares, in any jurisdiction outside of the United
States where action for that purpose is required. Each Investor outside the
United States will comply with all applicable laws and regulations in each
foreign jurisdiction in which it purchases, offers, sells or delivers
Registrable Shares or has in its possession or distributes any offering
material, in all cases at its own expense.

                                       9

<PAGE>

         11.      TRANSFER OF REGISTRATION RIGHTS. None of the rights of any
Investor under this Agreement shall be transferred or assigned to any person
unless (i) such person is a Qualifying Holder (as defined below), and (ii) such
person agrees to become a party to, and bound by, all of the terms and
conditions of, this Agreement by duly executing and delivering to the Company an
Instrument of Adherence in the form attached as Exhibit B hereto. For purposes
of this Section 11, the term "Qualifying Holder" shall mean, with respect to any
Investor, (i) any current or former partner or current or former member thereof,
(ii) any corporation, partnership or limited liability company controlling,
controlled by, or under common control with, such Investor or any partner or
member thereof, or (iii) any other direct transferee from such Investor of at
least 50% of those Registrable Shares held by such Investor or issuable upon
exercise of Warrants held by such Investor. None of the rights of any Investor
under this Agreement shall be transferred or assigned to any person (including,
without limitation, a Qualifying Holder) that acquires Registrable Shares in the
event that, and to the extent that, such person is then eligible to resell such
Registrable Shares pursuant to Rule 144(k) of the Securities Act.

         12.      INFORMATION AVAILABLE. So long as the Registration Statement
is effective covering the resale of Registrable Shares owned by the Investors,
the Company will make available to the Investors (including via EDGAR):

                  (a)      as soon as practicable after it is available, one
copy of (i) its Annual Report to Stockholders (which Annual Report shall contain
financial statements audited in accordance with generally accepted accounting
principles by a national firm of certified public accountants) and (ii) if not
included in the Annual Report to Stockholders, its Annual Report on Form 10-K
(the foregoing, in each case, excluding exhibits); and

                  (b)      upon the reasonable request of the Investor, all
exhibits excluded by the parenthetical to subparagraph (a)(ii) of this Section
12 as filed with the SEC and all other information that is made available to
stockholders.

                  (c)      upon the reasonable request of the Investor, an
adequate number of copies of the prospectuses to supply to any other party
requiring such prospectuses.

         13.      ENTIRE AGREEMENT. This Agreement and the Purchase Agreement
constitute and contain the entire agreement and understanding of the parties
with respect to the subject matter hereof, and also supersede any and all prior
negotiations, correspondence, agreements or understandings with respect to the
subject matter hereof.

         14.      MISCELLANEOUS.

                  (a)      No modification, alteration, waiver or change in any
of the terms of this Agreement shall be valid or binding upon the parties hereto
unless made in writing and duly executed by the Company and the Majority
Holders.

                  (b)      This Agreement shall be governed by and construed in
accordance with the laws of the state of Delaware and without regard to any
conflicts of laws concepts which would apply the substantive law of some other
jurisdiction, and shall be binding upon and inure to the benefit of the parties
hereto and their respective heirs, personal representatives, successors or
assigns, provided that the terms and conditions of Section 11 hereof are
satisfied. This

                                       10

<PAGE>

Agreement shall also be binding upon and inure to the benefit of any transferee
of any of the Securities, provided that the terms and conditions of Section 11
hereof are satisfied. Notwithstanding anything in this Agreement to the
contrary, if at any time any Investor shall cease to own all of its Securities,
all of such Investor's rights under this Agreement shall immediately terminate.

                  (c)      Any notice required or permitted by this Agreement
shall be in writing and shall be sufficient upon receipt, when delivered
personally or by courier, overnight delivery service or confirmed facsimile, or
forty-eight hours after being deposited in the regular mail as certified or
registered mail (airmail if sent internationally) with postage prepaid, if such
notice is addressed to the party to be notified at such party's address or
facsimile number as set forth below (if to the Company) or as set forth in
Exhibit A (if to an Investor), or as subsequently modified by written notice:

                  If to the Company:         Corixa Corporation
                                             1124 Columbia Street
                                             Suite 200
                                             Seattle, WA 98104
                                             Facsimile No.: (206) 754-5994
                                             Attn: Michelle Burris

                  With a copy to:            Orrick, Herrington & Sutcliffe LLP
                                             719 Second Avenue
                                             Suite 900
                                             Seattle, WA 98104
                                             Facsimile No.: (206) 839-4301
                                             Attn: Stephen M. Graham
                                                   Alan C. Smith

                  (d)      The parties acknowledge and agree that in the event
of any breach of this Agreement, remedies at law may be inadequate, and each of
the parties hereto shall be entitled to seek specific performance of the
obligations of the other parties hereto and such appropriate injunctive relief
as may be granted by a court of competent jurisdiction.

                  (e)      This Agreement may be executed in a number of
counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument.

                                       11

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Registration
Rights Agreement as of the date and year first above written.

                                   THE COMPANY:

                                   CORIXA CORPORATION

                                   By: /s/ Steven Gillis
                                   Name:  Steven Gillis
                                   Title: CEO

                                   Address:   1224 Columbia Street
                                              Suite 200
                                              Seattle, WA 98104
                                   Telephone: (206) 754-5711
                                   Facsimile: (206) 754-5994

                                   INVESTORS:

                                   SPROUT IX PLAN INVESTORS, L.P.

                                   By DLJ LBO Plans Management
                                   Corporation II, its General Partner

                                   By: /s/ Ronald M. Hunt
                                       Ronald M. Hunt
                                       Its: Attorney in Fact

                                   Address: Eleven Madison Ave.
                                   NY, NY 10010-3629
                                   Telephone: 212-538-8667
                                   Facsimile: 212-538-8245

                                       12

<PAGE>

                                             SPROUT ENTREPRENEURS FUND, L.P.

                                             By DLJ Capital Corporation, its
                                             General Partner

                                             By: /s/ Ronald M. Hunt
                                                 Ronald M. Hunt
                                                 Its: Director

                                             Address:   Eleven Madison Ave.
                                                        NY, NY 10010-3629
                                             Telephone: 212-538-8667
                                             Facsimile: 212-538-8245

                                             SPROUT CAPITAL IX, L.P.

                                             By DLJ Capital Corporation, its
                                             General Partner

                                             By: /s/ Ronald M. Hunt
                                                 Ronald M. Hunt
                                                 Its: Director

                                             Address:   Eleven Madison Ave.
                                                        NY, NY 10010-3629
                                             Telephone: 212-538-8667
                                             Facsimile: 212-538-8245

                                             DLJ CAPITAL CORPORATION

                                             By: /s/ Ronald M. Hunt
                                                 Ronald M. Hunt
                                                 Its: Director

                                             Address:   Eleven Madison Ave.
                                                        NY, NY 10010-3629
                                             Telephone: 212-538-8667
                                             Facsimile: 212-538-8245

                                       13

<PAGE>

                                    EXHIBIT A

                              SCHEDULE OF INVESTORS

<TABLE>
<CAPTION>
                                        AGGREGATE PURCHASE PRICE
         PURCHASER                           (APPROXIMATE)
----------------------------------------------------------------
<S>                                     <C>
Sprout IX Plan Investors, L.P.               $  1,316,544
----------------------------------------------------------------

Sprout Entrepreneurs Fund, L.P.              $    112,352
----------------------------------------------------------------

Sprout Capital IX, L.P.                      $ 28,508,618
----------------------------------------------------------------

DLJ Capital Corporation                      $     62,486
----------------------------------------------------------------

TOTAL                                        $ 30,000,000
----------------------------------------------------------------
</TABLE>

<PAGE>

                                    EXHIBIT B

                             INSTRUMENT OF ADHERENCE

         Reference is hereby made to that certain Registration Rights Agreement,
dated as of __________ __, 2003, between Corixa Corporation, a Delaware
corporation (the "Company"), the Initial Investors and the Investor Permitted
Transferees, as amended and in effect from time to time (the "Registration
Rights Agreement"). Capitalized terms used herein without definition shall have
the respective meanings ascribed thereto in the Registration Rights Agreement.

         The undersigned, in order to become the owner or holder of [___________
shares][warrants to purchase ________ shares] of common stock, par value $0.001
per share (the "Common Stock"), of the Company, hereby agrees that, from and
after the date hereof, the undersigned has become a party to the Registration
Rights Agreement in the capacity of an Investor Permitted Transferee, and is
entitled to all of the benefits under, and is subject to all of the obligations,
restrictions and limitations set forth in, the Registration Rights Agreement
that are applicable to Investor Permitted Transferees. This Instrument of
Adherence shall take effect and shall become a part of the Registration Rights
Agreement immediately upon execution.

         Executed under seal as of the date set forth below under the laws of
________________.

                                        Signature: _____________________________
                                                   Name:  ______________________
                                                   Title: ______________________

Accepted:

Corixa Corporation

By:   ______________________________
      Michelle Burris
      Chief Financial Officer

Date: ______________________________

<PAGE>

                                    EXHIBIT C

                              PLAN OF DISTRIBUTION

         The selling stockholders may sell the shares of common stock from time
to time. When we use the term "selling stockholders" in this prospectus, it
includes donees, distributees, pledgees and other transferees who are selling
shares received after the date of this prospectus from a selling stockholder
whose name appears in "Selling Stockholders". If we are notified by a selling
stockholder that a donee, distributee, pledgee or other transferee intends to
sell more than 500 shares, we will file a supplement to the prospectus if
required by law. The selling stockholders will act independently of us in making
decisions regarding the timing, manner and size of each sale. The selling
stockholders may make these sales on the Nasdaq National Market or otherwise, at
prices and terms that are then-prevailing or at prices related to the
then-current market price, at fixed prices or in privately negotiated
transactions. The selling stockholders may use one or more of the following
methods to sell the shares of common stock or preferred stock:

         -    a block trade in which a selling stockholder's broker or dealer
              will attempt to sell the shares as agent, but may position and
              resell all or a portion of the block as a principal to facilitate
              the transaction;

         -    a broker or dealer may purchase the common stock or preferred
              stock as a principal and then resell the shares for its own
              account pursuant to this prospectus;

         -    an exchange or over-the-counter distribution in accordance with
              the rules of the applicable exchange or Nasdaq;

         -    a pledge to secure debt and other obligations; and

         -    ordinary brokerage transactions and transactions in which the
              broker solicits purchasers.

         The selling stockholders may enter into hedging transactions with
broker-dealers in connection with distributions of the shares or otherwise. In
these transactions, broker-dealers may engage in short sales of the shares in
the course of hedging the positions they assume with the selling stockholders.
The selling stockholders also may sell shares short and redeliver the shares to
close out short positions. The selling stockholders may enter into option or
other transactions with broker-dealers that require the delivery to the
broker-dealer of the shares. The broker-dealer may then resell or otherwise
transfer the shares under this prospectus. The selling stockholders also may
loan or pledge the shares to a broker-dealer. The broker-dealer may sell the
loaned shares, or upon a default the broker-dealer may sell the pledged shares
under this prospectus.

         In effecting sales, broker-dealers engaged by the selling stockholders
may arrange for other broker-dealers to participate in the resales. To the
extent required, this Prospectus will be amended and supplemented from time to
time to describe a specific plan of distribution.

<PAGE>

         Broker-dealers or agents may receive compensation in the form of
commissions, discounts or concessions from selling stockholders. Broker- dealers
or agents may also receive compensation from the purchasers of the shares for
whom they act as agents or to whom they sell as principal, or both. Compensation
as to a particular broker-dealer might be in excess of customary commissions and
will be in amounts to be negotiated in connection with the sale. Broker-dealers
or agents and any other participating broker-dealers or the selling stockholders
may be deemed to be "underwriters" within the meaning of section 2(a)(11) of the
Securities Act in connection with sales of the shares. Accordingly, any such
commission, discount or concession received by them and any profit on the resale
of the shares purchased by them may be deemed to be underwriting discounts or
concessions under the Securities Act. Because selling stockholders may be deemed
"underwriters" within the meaning of section 2(a)(11) of the Securities Act, the
selling stockholders will be subject to the prospectus delivery requirements of
the Securities Act.

         Any shares covered by this prospectus which qualify for sale pursuant
to Rule 144 under the Securities Act may be sold under Rule 144 rather than
pursuant to this prospectus.

         The shares will be sold only through registered or licensed brokers or
dealers if required under applicable state securities laws. In addition, in
certain states the shares may not be sold unless they have been registered or
qualified for sale in the applicable state or an exemption from the registration
or qualification requirement is available and is complied with.

         We will bear all costs, expenses and fees in connection with the
registration of the shares. The selling stockholders will bear all commissions
and discounts, if any, attributable to the sale of the shares. The selling
stockholders may agree to indemnify any broker-dealer or agent that participates
in transactions involving sales of the shares against certain liabilities,
including liabilities arising under the Securities Act. We have agreed to
indemnify the selling stockholders against certain liabilities in connection
with their offering of the shares, including liabilities arising under the
Securities Act.

                                       2

<PAGE>

                                   APPENDIX I

                               CORIXA CORPORATION

                      REGISTRATION STATEMENT QUESTIONNAIRE

         In connection with the preparation of the Registration Statement,
please provide us with the following information:

1.       Pursuant to the "Selling Stockholder" section of the Registration
         Statement, please state your or your organization's name exactly as it
         should appear in the Registration Statement:

         ________________________________________________

2.       Please provide the number of securities that you or your organization
         will own immediately after Closing, including those Purchased Shares
         and Warrants purchased by you or your organization pursuant to the
         Securities Purchase Agreement and those securities purchased by you or
         your organization through other transactions:

         Purchased Shares: _____________________________________________________
         Warrants: _____________________________________________________________
         Other Shares of Common Stock: _________________________________________

3.       Have you or your organization had any position, office or other
material relationship within the past three years with the Company or its
affiliates?

         _____ Yes     _____ No

         If yes, please indicate the nature of any such relationships below:

         ________________________________________________
         ________________________________________________
         ________________________________________________
         ________________________________________________

<PAGE>

                                   APPENDIX II

                               CORIXA CORPORATION

          TRANSFER NOTICE FOR SALES PURSUANT TO REGISTRATION STATEMENT

ATTENTION:
Michelle Burris
Corixa Corporation
1124 Columbia Street, Suite 200
Seattle, Washington 98104

         This Transfer Notice relates to _____________ shares (the "Shares") of
the common stock, $0.001 par value per share, of Corixa Corporation, a Delaware
corporation, registered in the name of ____________________________ (the
"Transferor"). The beneficial owner of the Shares is ___________________________
_______________________.(1)

         The undersigned Transferor desires to assign and transfer the Shares
through the following broker:

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
           (PRINT OR TYPE BROKER'S NAME, ADDRESS AND TELEPHONE NUMBER)

         The name, address and telephone number of a contact person regarding
this transaction (if different from above) is:

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
           (PRINT OR TYPE BROKER'S NAME, ADDRESS AND TELEPHONE NUMBER)

         The undersigned Transferor confirms that:

         1.       the Shares are being transferred pursuant to an effective
                  registration statement on Form S-3 under the Securities Act of
                  1933;

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

(1) A "beneficial owner" of the Shares includes any person who, directly or
indirectly, through any contract, arrangement, understanding, relationship or
otherwise, has or shares (i) voting power, which includes the power to vote, or
to direct the voting of, the Shares; and/or (ii) investment power, which
includes the power to dispose, or to direct the disposal of, the Shares.

<PAGE>

         2.       the Shares are being transferred in compliance with any
                  applicable blue sky securities laws of any state;

         3.       the prospectus delivery requirements under the Securities Act
                  have been or will be satisfied; and

         4.       the prospectus so delivered correctly describes the Transferor
                  and the Transferor's method of sale or other distribution of
                  the Shares.

         Signature: ____________________________________________________________
                    (SIGN EXACTLY AS SHARES ARE REGISTERED ON CORIXA
                    CORPORATION'S BOOKS; IF REGISTERED STOCKHOLDER IS AN ENTITY,
                    INDICATE SIGNATORY'S OFFICIAL CAPACITY WITH RESPECT TO THE
                    REGISTERED HOLDER)

         Date:_________________

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