Document:

Q2 2001 Exhibit 4.2

Exhibit 4.2

E-LOAN, INC.

PROMISSORY NOTE

	
$3,000,000
	
March 31, 2001

	
Dublin, California 
	
 

E-LOAN, INC., a Delaware corporation (the "Company"), the principal
office of which is located at 5875 Arnold Road, Suite 100, Dublin, California
94568, for value received hereby promises to pay to Christian Larsen (the
"Lender"), or his registered assigns, on or before April15, 2001 (the
"Maturity Date"), the principal sum of Six Million Dollars
($3,000,000.00). All unpaid amounts of principal and interest shall be due and
payable in full on the Maturity Date.

The Company also promises to pay interest on the unpaid principal amount
hereof from the date hereof until paid at the rate of eight percent (8%) per
annum. Notwithstanding the preceding, in the event that this Promissory Note is
not repaid on or before the Maturity Date, interest on this Promissory Note
shall continue to accrue and be added to the unpaid principal at the rate of
fifteen percent (15%) per annum compounded weekly. Notwithstanding anything to
the contrary contained elsewhere in this Promissory Note, the Company and Lender
agree that in no event shall the interest paid or payable under this note exceed
the maximum non-usurious interest rate (the "Maximum Rate") that at any time or
from time to time may be contracted for, taken, reserved, charged or received
for money loaned under the laws of the State of California. If, in any period,
the interest rate, absent any limitation in this Promissory Note, would exceed
the Maximum Rate, then the interest rate for that period shall be the Maximum
Rate, and, if in future periods, that interest rate would otherwise be less than
the Maximum Rate, then that interest rate shall remain at the Maximum Rate until
such time as the amount of interest paid hereunder equals the amount of interest
which would have been paid if the same had not been limited by the Maximum Rate.
Any payment by the Company will in any event be applied first to accrued and
unpaid interest and then to principal.

All payments of principal and interest in respect of this Promissory Note
shall be made in lawful money of the United States of America to Lender at 5875
Arnold Road, Suite 100, Dublin, California 94568, or such other place as shall
be designated in writing for such purpose.

The principal amount, together with all accrued interest thereon, of this
Promissory Note may be prepaid at any time or from time to time without penalty.
The Company hereby covenants and agrees that 100% of the net proceeds obtained
by the Company from the sale and issuance of its capital stock or secured or
unsecured notes to Lender shall be applied against the principal and interest
due on this Promissory Note until such principal and interest is paid in
full.

The obligations of the Company pursuant to this Promissory Note are secured
pursuant to a Security Agreement between the Company and Lender dated as of
March 31, 2001. The obligations of the Company under this Promissory Note and
the rights the Lender to receive payments hereunder are subordinated to the
obligations that the Company has to Bank One, NA under the terms of that certain
Loan Agreement dated as of April 2, 2001 (the "Loan Agreement"). The Lender may
receive payments under this Promissory Note so long as there has been no event
of default under the Loan Agreement, and so long as such payments would not
cause an event of default under the Loan Agreement at the time of such payment.
The obligations of the Company under this Promissory Note are secured by a lien
against certain of the Company's assets, and such lien is and shall remain
junior in priority to the lien in favor of Bank One NA as provided under the
Loan Agreement. Upon an event of default under the Loan Agreement, the Lender
shall receive no payments under this Promissory Note unless and until the
obligations under the Loan Agreement are indefeasibly paid in full or the
default is waived or otherwise cured. Notwithstanding any provision of this
paragraph, a failure by the Company to repay this Promissory Note in full on or
before the Maturity Date shall be deemed to be a default under this Promissory
Note and nothing contained in this paragraph shall impair, as between the
Company and the Lender, the obligation of the Company to pay the Lender the
principal hereof and interest hereon as and when the same becomes due and
payable, or shall prevent the Lender from exercising all rights, power and
remedies otherwise provided herein or by applicable law. In the event that this
Promissory Note may be paid in part without creating a default under the Loan
Agreement, this Promissory Note shall be paid to the maximum amount that woud
not result in a default under the Promissory Note.

This Promissory Note is being executed concurrently with a Promissory Note
executed by the Company payable to The Charles Schwab Corporation (the "Schwab
Note). No repayment shall occur on the Schwab Note unless a proportional amount
of this Promissory Note (such proportion being based on the amounts outstanding
under this Promissory Note and the Larsen Note) is concurrently repaid.

The Company promises to pay all reasonable costs and expenses, including
reasonable attorneys' fees, incurred in the collection and enforcement of this
Promissory Note. The Company hereby consents to renewals and extensions of time
at or after the Maturity Date hereof, without notice. The Company for itself and
its legal successors and assigns, hereby waives diligence, presentment, protest,
dishonor, notice of dishonor, demand and notice of every kind.

No extension of time for payment of any amount owing hereunder shall affect
the liability of the Company or any person or entity, now or at any time
hereafter, liable for payment of the indebtedness evidenced hereby. No delay by
the Company, including any delay because of a default under the Loan Agreement,
or the Lender hereof in exercising any power or right hereunder shall operate as
a waiver of any power or right hereunder. No waiver or modification of the terms
of this Promissory Note shall be valid unless in writing and signed by the
Lender.

This Promissory Note shall be deemed made and delivered under, and shall
be governed by, the internal laws of the State of California in all
respects.

The Company agrees that it will not enter into the Loan Agreement until
it receives from Bank One NA a written waiver waiving the Company's entering
into of this Promissory Note and the repayment of the Promissory Note in
accordance with the terms of this Promissory Note.

IN WITNESS WHEREOF, the Company has caused this Promissory Note to be
executed and delivered by its duly authorized officers, as of the date and place
first above written.

E-LOAN, INC., a Delaware corporation

By /s/ Joseph J. Kennedy

Joseph J. Kennedy

President

By /s/ Matt Roberts

CFOQ2 2001 Exhibit 4.3

Exhibit 4.3

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE
EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO,
(ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO
THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-
ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR
(iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 6 OF THIS
WARRANT.

STOCK PURCHASE WARRANT

To Purchase Shares of Common Stock of 

E-LOAN, Inc.

THIS CERTIFIES that for value received, Charles Schwab & Co., Inc.
and its assigns are entitled upon the terms and subject to the conditions
hereinafter set forth, at any time on or prior to 5 p.m. California time on
July 25, 2003, but not thereafter, to subscribe for and purchase from E-LOAN,
Inc., a Delaware corporation (the "Company"), One Million Three Hundred Eighty-
Nine Thousand (1,389,000) shares (the "Shares") of fully paid and nonassessable
Common Stock, $0.001 par value per share (as adjusted pursuant to Section 3
hereof (the "Common Stock")). The purchase price of one Share under this Warrant
shall be $5.00 per share (such price and such other price as shall result, from
time to time, from the adjustments specified in Section 3 hereof is herein
referred to as the "Warrant Price"), subject to the provisions and upon the
terms and conditions hereinafter set forth. As used herein, the term "Date of
Grant" shall mean the Date of Grant listed on the signature page hereof.

	Exercise of Warrant. The purchase right represented by this Warrant
may be exercised by the holder hereof, in whole or in part, at any time and from
time to time, at the election of the holder hereof, by (a) the surrender of
this Warrant (with the notice of exercise substantially in the form attached
hereto as Exhibit A duly completed and executed) at the principal office of
the Company, in Dublin, California (or such other office or agency of the
Company as it may designate by notice in writing to the registered holder hereof
at the address of such holder appearing on the books of the Company) and
(b) the payment of the exercise price (the Warrant Price multiplied by the
number of Shares then being purchased) to the Company, (i) by check or bank
draft payable to the order of the Company, (ii) by wire transfer to an
account designated by the Company (a "Wire Transfer"), (iii)  by
cancellation of indebtedness of the Company to the holder hereof of an amount
equal to the exercise price or (iv) by exercise of the right provided for in
Section 8 hereof. The person or persons in whose name(s) any certificate(s)
representing the Shares shall be issuable upon exercise of this Warrant shall be
deemed to have become the holder(s) of record of, and shall be treated for all
purposes as the record holder(s) of, the Shares represented thereby (and such
Shares shall be deemed to have been issued) immediately prior to the close of
business on the date or dates upon which this Warrant is exercised. In the event
of any exercise of the rights represented by this Warrant, certificates for the
Shares so purchased shall be delivered to the holder hereof or its designee as
soon as possible and in any event within five days after such exercise and,
unless this Warrant has been fully exercised or expired, a new Warrant
representing the portion of the Shares with respect to which this Warrant shall
not then have been exercised shall also be issued to the holder hereof as soon
as possible and in any event within such five-day period. This Warrant is
exchangeable, upon the surrender hereof by the registered holder at the above-
mentioned office or agency of the Company, for a new Warrant of like tenor. The
Company shall maintain at the above-mentioned office or agency a registry
showing the name and address of the registered holder of this Warrant. This
Warrant may be surrendered for exchange, transfer or exercise, in accordance
with its terms, at such office or agency of the Company, and the Company shall
be entitled to rely in all respects, prior to written notice to the contrary,
upon such registry.

	Stock Fully Paid; Reservation of Shares; Taxes. All Shares that may
be issued upon the exercise of the rights represented by this Warrant will, upon
issuance pursuant to the terms and conditions herein, be fully paid and
nonassessable, and free from all taxes, liens and charges with respect to the
issue thereof. During the period within which the rights represented by this
Warrant may be exercised, the Company will at all times have authorized, and
reserved for the purpose of the issue upon exercise of the purchase rights
evidenced by this Warrant, a sufficient number of shares of its Common Stock to
provide for the exercise of the rights represented by this Warrant. Issuance of
certificates for shares of Common Stock upon the exercise of this Warrant shall
be made without charge to the holder hereof for any issue or transfer tax or
other incidental expense in respect of the issuance of such certificate, all of
which taxes and expenses shall be paid by the Company, and such certificates
shall be issued in the name of the holder of this Warrant or in such name or
names as may be directed by the holder of this Warrant; provided, however, that
in the event certificates for shares of Common Stock are to be issued in a name
other than the name of the holder of this Warrant, this Warrant when surrendered
for exercise shall be accompanied by an assignment form reasonably acceptable to
the Company duly executed by the holder hereof; and, provided further, that upon
any transfer involved in the issuance or delivery of any certificates for shares
of Common Stock, the Company may require as a condition thereto, the payment of
a sum sufficient to reimburse it for any transfer tax incidental thereto.

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

	Reclassification or Merger. In case of any reclassification or change
of securities of the class issuable upon exercise of this Warrant (other than a
change in par value, or from par value to no par value, or from no par value to
par value, or as a result of a subdivision or combination), or in case of any
merger of the Company with or into another corporation (other than a merger with
another corporation in which the Company is the acquiring and the surviving
corporation and which does not result in any reclassification or change of
outstanding securities issuable upon exercise of this Warrant), or in case of
any sale of all or substantially all of the assets of the Company, the Company,
or such successor or purchasing corporation, as the case may be, shall duly
execute and deliver to the holder of this Warrant a new Warrant (in form and
substance reasonably satisfactory to the holder of this Warrant), so that the
holder of this Warrant shall have the right to receive, at a total purchase
price not to exceed that payable upon the exercise of the unexercised portion of
this Warrant, and in lieu of the Shares theretofore issuable upon exercise of
this Warrant, the kind and amount of shares of stock, other securities, money
and property receivable upon such reclassification, change or merger by a holder
of the number of Shares then purchasable under this Warrant. Such new Warrant
shall provide for adjustments that shall be as nearly equivalent as may be
practicable to the adjustments provided for in this Section 3. The
provisions of this Section 3(a) shall similarly apply to successive
reclassifications, changes, mergers and transfers.

	Subdivision or Combination of Shares. If the Company at any time
while this Warrant remains outstanding and unexpired shall subdivide or combine
its outstanding shares of Common Stock, the Warrant Price shall be
proportionately decreased in the case of a subdivision or increased in the case
of a combination, effective at the close of business on the date the subdivision
or combination becomes effective.

	Stock Dividends and Other Distributions. If the Company at any time
while this Warrant is outstanding and unexpired shall (i) pay a dividend
with respect to Common Stock payable in Common Stock, or (ii) make any
other distribution of Common Stock with respect to Common Stock, then the
Warrant Price shall be adjusted, from and after the date of determination of
shareholders entitled to receive such dividend or distribution, to that price
determined by multiplying the Warrant Price in effect immediately prior to such
date of determination by a fraction (i) the numerator of which shall be the
total number of shares of Common Stock outstanding immediately prior to such
dividend or distribution, and (ii) the denominator of which shall be the
total number of shares of Common Stock outstanding immediately after such
dividend or distribution.

	Adjustment of Number of Shares. Upon each adjustment in the Warrant
Price pursuant to this Section 3, the number of Shares purchasable hereunder
shall be adjusted, to the nearest whole share, to the product obtained by
multiplying the number of Shares purchasable immediately prior to such
adjustment in the Warrant Price by a fraction, the numerator of which shall be
the Warrant Price immediately prior to such adjustment and the denominator of
which shall be the Warrant Price immediately thereafter.

	Notice of Adjustments.

	Whenever the Warrant Price or the number of Shares purchasable hereunder
shall be adjusted pursuant to Section 3 hereof, the Company shall create a
certificate signed by its president or chief financial officer setting forth, in
reasonable detail, the event requiring the adjustment, the amount of the
adjustment, the method by which such adjustment was calculated, and the Warrant
Price and the number of Shares purchasable hereunder after giving effect to such
adjustment, and shall cause copies of such certificate to be mailed (without
regard to Section 12 hereof, by first class mail, postage prepaid) to the
holder of this Warrant at such holder's last known address.
	If, at any time, the Company's Board of Directors approves any of the
following:

	the declaration of any cash dividend on the Common Stock;
	the payment of any dividend payable in stock upon the Common Stock or any
distribution (other than regular cash dividends) to the holders of its Common
Stock;
	offering subscription rights pro rata to the holders of its Common Stock for
any additional shares of stock of any class or other rights;
	sale of all or substantially all of the assets of the Company, a merger or
consolidation of the Company with or into any other corporation or corporations,
or any other corporate reorganization, where the stockholders of the Company
immediately prior to such event do not retain more than a fifty percent (50%)
interest in the surviving or successor entity; or
	a voluntary or involuntary dissolution, liquidation or winding up of the
Company;

then, in any one or more of said cases, the Company shall give prior written
notice (without regard to Section 12 hereof), by first-class mail, postage
prepaid, addressed to the registered holder of this Warrant at the address of
such holder as shown on the books of the Company, of the date on which
(A) the books of the Company shall close or a record shall be taken for
such dividend, distribution or subscription rights, or (B) such
reorganization, reclassification, consolidation, merger, sale, dissolution,
liquidation or winding up shall take place, as the case may be. Such notice
shall also specify the date as of which the holders of Common Stock of record
shall participate in such dividend, distribution or subscription rights, or
shall be entitled to exchange their Common Stock for securities or other
property deliverable upon such reorganization, reclassification, consolidation,
merger, sale, dissolution, liquidation or winding up, as the case may be. Such
written notice shall be given at least twenty days prior to the action in
question and not less than twenty days prior to the record date or the date on
which the Company's transfer books are closed in respect thereto.

	Fractional Shares. No fractional shares of Common Stock will be
issued in connection with any exercise hereunder, but in lieu of such fractional
shares the Company shall make a cash payment therefor based on the fair market
value of the Common Stock on the date of exercise as reasonably determined in
accordance with Section 8(c).

	Compliance with Securities Act; Disposition of Warrant or
Shares.

	Compliance with Securities Act. The holder of this Warrant, by
acceptance hereof, agrees that this Warrant, and the Shares to be issued upon
exercise hereof are being acquired for investment and that such holder will not
offer, sell or otherwise dispose of this Warrant, or any Shares except under
circumstances which will not result in a violation of the Securities Act of
1933, as amended (the "Act"), or any applicable state securities laws. Upon
exercise of this Warrant, unless the Shares being acquired are registered under
the Act and any applicable state securities laws or an exemption from such
registration is available, the holder hereof shall confirm in writing that the
Shares so purchased are being acquired for investment and not with a view toward
distribution or resale in violation of the Act and shall confirm such other
matters related thereto as may be reasonably requested by the Company. This
Warrant and all Shares issued upon exercise of this Warrant (unless registered
under the Act and any applicable state securities laws) shall be stamped or
imprinted with a legend in substantially the following form:

"THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. NO
SALE OR DISPOSITION MAY BE EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION
STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE,
REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT
REQUIRED, (iii) RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE
GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS
OF SECTION 6 OF THE WARRANT UNDER WHICH THESE SECURITIES WERE ISSUED, DIRECTLY
OR INDIRECTLY."

Said legend shall be removed by the Company, upon the request of a holder, at
such time as the restrictions on the transfer of the applicable security shall
have terminated. In addition, in connection with the issuance of this Warrant,
the holder specifically represents to the Company by acceptance of this Warrant
as follows:

	The holder is aware of the Company's business affairs and financial
condition, and has acquired information about the Company sufficient to reach an
informed and knowledgeable decision to acquire this Warrant. The holder is
acquiring this Warrant for its own account for investment purposes only and not
with a view to, or for the resale in connection with, any "distribution" thereof
in violation of the Act.
	The holder understands that this Warrant has not been registered under the
Act in reliance upon a specific exemption therefrom, which exemption depends
upon, among other things, the bona fide nature of the holder's investment intent
as expressed herein.
	The holder further understands that this Warrant must be held indefinitely
unless subsequently registered under the Act and qualified under any applicable
state securities laws, or unless exemptions from registration and qualification
are otherwise available. The holder is aware of the provisions of Rule 144,
promulgated under the Act.

	Disposition of Warrant or Shares. With respect to any offer, sale or
other disposition of this Warrant or any Shares acquired pursuant to the
exercise of this Warrant prior to registration of such Warrant or Shares, the
holder hereof agrees to give written notice to the Company prior thereto,
describing briefly the manner thereof, together with a written opinion of such
holder's counsel, or other evidence, if reasonably requested by the Company, to
the effect that such offer, sale or other disposition may be effected without
registration or qualification (under the Act as then in effect or any applicable
federal or state securities law then in effect) of this Warrant or the Shares
and indicating whether or not under the Act certificates for this Warrant or the
Shares to be sold or otherwise disposed of require any restrictive legend as to
applicable restrictions on transferability in order to ensure compliance with
such law. Promptly upon receiving such written notice and reasonably
satisfactory opinion or other evidence, if so requested, the Company, as
promptly as practicable but no later than three (3) days after receipt of the
written notice, shall notify such holder that such holder may sell or otherwise
dispose of this Warrant or such Shares, all in accordance with the terms of the
notice delivered to the Company. If a determination has been made pursuant to
this Section 6(b) that the opinion of counsel for the holder or other evidence
is not reasonably satisfactory to the Company, the Company shall so notify the
holder promptly with details thereof after such determination has been made.
Notwithstanding the foregoing, this Warrant or such Shares may, as to such
federal laws, be offered, sold or otherwise disposed of in accordance with Rule
144 or 144A under the Act, provided that the Company shall have been furnished
with such information as the Company may reasonably request to provide a
reasonable assurance that the provisions of Rule 144 or 144A have been
satisfied. Each certificate representing this Warrant or the Shares thus
transferred (except a transfer pursuant to Rule 144 or 144A) shall bear a legend
as to the applicable restrictions on transferability in order to ensure
compliance with such laws, unless in the aforesaid opinion of counsel for the
holder, such legend is not required in order to ensure compliance with such
laws. The Company may issue stop transfer instructions to its transfer agent in
connection with such restrictions.

	No Rights as Shareholders. No holder of this Warrant, as such, shall
be entitled to vote or receive dividends or be deemed the holder of Shares, nor
shall anything contained herein be construed to confer upon the holder of this
Warrant, as such, any of the rights of a shareholder of the Company or any right
to vote for the election of directors or upon any matter submitted to
shareholders at any meeting thereof, or to receive notice of meetings, or to
receive dividends or subscription rights or otherwise until this Warrant shall
have been exercised and the Shares purchasable upon the exercise hereof shall
have become deliverable, as provided herein.

	Right to Convert Warrant into Stock; Net Issuance.

	Right to Convert. In addition to and without limiting the rights of
the holder under the terms of this Warrant, the holder shall have the right to
convert this Warrant or any portion thereof (the "Conversion Right") into shares
of Common Stock as provided in this Section 8 at any time or from time to time
during the term of this Warrant. Upon exercise of the Conversion Right with
respect to a particular number of shares subject to this Warrant (the "Converted
Warrant Shares"), the Company shall deliver to the holder (without payment by
the holder of any exercise price or any cash or other consideration) (X) that
number of shares of fully paid and nonassessable Common Stock equal to the
quotient obtained by dividing the value of this Warrant (or the specified
portion hereof) on the Conversion Date (as defined in subsection (b) hereof),
which value shall be determined by subtracting (A) the aggregate Warrant Price
of the Converted Warrant Shares immediately prior to the exercise of the
Conversion Right from (B) the aggregate fair market value of the Converted
Warrant Shares issuable upon exercise of this Warrant (or the specified portion
hereof) on the Conversion Date (as herein defined) by (Y) the fair market value
of one share of Common Stock on the Conversion Date (as herein defined).

Expressed as a formula, such conversion shall be computed as follows:

X = B - A

        Y

Where: X = the number of shares of Common Stock that may

be issued to holder

Y = the fair market value (FMV) of one share of

Common Stock

A = the aggregate Warrant Price (i.e., Converted

Warrant Shares x Warrant Price)

B = the aggregate FMV (i.e., FMV x Converted

Warrant Shares)

No fractional shares shall be issuable upon exercise of the Conversion Right,
and, if the number of shares to be issued determined in accordance with the
foregoing formula is other than a whole number, the Company shall pay to the
holder an amount in cash equal to the fair market value (as determined in
accordance with Section 8(c)) of the resulting fractional share on the
Conversion Date (as hereinafter defined). 

	Method of Exercise. The Conversion Right may be exercised by the
holder by the surrender of this Warrant at the principal office of the Company
together with a written statement specifying that the holder thereby intends to
exercise the Conversion Right and indicating the number of shares subject to
this Warrant which are being surrendered (referred to in Section 8(a) hereof as
the Converted Warrant Shares) in exercise of the Conversion Right. Such
conversion shall be effective upon receipt by the Company of this Warrant
together with the aforesaid written statement, or on such later date as is
specified therein (the "Conversion Date"). Certificates for the shares issuable
upon exercise of the Conversion Right and, if applicable, a new warrant
evidencing the balance of the shares remaining subject to this Warrant, shall be
issued as of the Conversion Date and shall be delivered to the holder within
five days following the Conversion Date.

	Determination of Fair Market Value. "Fair market value" of a share of
Common Stock as of a particular date (the "Determination Date") shall mean:

	The average of the closing prices (as listed on the Nasdaq National Market
and reported in The Wall Street Journal) of the Common Stock over the
ten-day period ending on the last trading day of the Common Stock prior to the
Determination Date and including such last trading day as one of the ten days;
and
	If there is no public market for the Common Stock, then fair market value
shall be determined by mutual agreement of the holder of this Warrant and the
Company.

	Representations and Warranties. The Company represents and warrants
to the holder of this Warrant as follows:

	This Warrant has been duly authorized and executed by the Company and is a
valid and binding obligation of the Company enforceable in accordance with its
terms, subject to laws of general application relating to bankruptcy, insolvency
and the relief of debtors and the rules of law or principles at equity governing
specific performance, injunctive relief and other equitable remedies;
	The Shares have been duly authorized and reserved for issuance by the
Company and, when issued in accordance with the terms hereof will be validly
issued, fully paid and non-assessable;
	The rights, preferences, privileges and restrictions granted to or imposed
upon the Shares and the holders thereof are as set forth in the Company's
Certificate of Incorporation, as amended to the Date of the Grant, a true and
complete copy of which has been delivered to the original holder of this
Warrant;
	The execution and delivery of this Warrant are not, and the issuance of the
Shares upon exercise of this Warrant in accordance with the terms hereof will
not be, inconsistent with the Company's Charter or by-laws, do not and will not
contravene any law, governmental rule or regulation, judgment or order
applicable to the Company, and do not and will not conflict with or contravene
any material provision of, or constitute a default under, any material
indenture, mortgage, contract or other instrument of which the Company is a
party or by which it is bound or require the consent or approval of, the giving
of notice to, the registration or filing with or the taking of any action in
respect of or by, any Federal, state or local government authority or agency or
other person, except for the filing of notices pursuant to federal and state
securities laws, which filings will be effected by the time required
thereby;
	There are no actions, suits, audits, investigations or proceedings pending
or, to the knowledge of the Company, threatened against the Company in any court
or before any governmental commission, board or authority which, if adversely
determined, will have a material adverse effect on the ability of the Company to
perform its obligations under this Warrant; and

	Covenants as to Common Stock.

	Listings. The Company shall promptly secure the listing of the Shares
issuable upon exercise of this Warrant upon each national securities exchange or
automated quotation system, if any, upon which shares of Common Stock are then
listed (subject to official notice of issuance upon exercise of this Warrant)
and shall maintain, so long as any other shares of Common Stock shall be so
listed, such listing of all shares of Common Stock from time to time issuable
upon the exercise of this Warrant; and the Company shall so list on each
national securities exchange or automated quotation system, as the case may be,
and shall maintain such listing of, any other shares of capital stock of the
Company issuable upon the exercise of this Warrant if and so long as any shares
of the same class shall be listed on such national securities exchange or
automated quotation system.

	Good Faith. The Company will not, by amendment of its Certificate of
Incorporation or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities, or any other voluntary action,
avoid or seek to avoid the observance or performance of any of the terms to be
observed or performed by it hereunder, but will at all times in good faith
assist in the carrying out of all of the provisions of this Warrant and in the
taking of all such action as may reasonably be requested by the holder of this
Warrant in order to protect the exercise privilege of the holder of this Warrant
against dilution or other impairment, consistent with the tenor and purpose of
this Warrant. The Company (i) will not increase the par value of any shares
of Common Stock receivable upon the exercise of this Warrant above the Warrant
Price then in effect and (ii) will take all such actions as may be
necessary or appropriate in order that the Company may validly and legally issue
fully paid and nonassessable shares of Common Stock upon the exercise of this
Warrant.

	Waivers and Amendments. This Warrant and any provision hereof may be
changed, waived, discharged or terminated only by an instrument in writing
signed by the party against which enforcement of the same is sought.

	Notices. Any notice, request, communication or other document
required or permitted to be given or delivered to the holder hereof or the
Company shall be delivered, or shall be sent by certified or registered mail,
postage prepaid, to each such holder at its address as shown on the books of the
Company or to the Company at the address indicated therefor on the signature
page of this Warrant.

	Binding Effect on Successors. This Warrant shall be binding upon any
corporation succeeding the Company by merger, consolidation or acquisition of
all or substantially all of the Company's assets, and all of the covenants and
agreements of the Company shall inure to the benefit of the successors and
assigns of the holder hereof.

	Loss, Theft, Destruction or Mutilation of Warrants or Stock
Certificates. The Company covenants to the holder hereof that, upon receipt
of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Warrant or any stock certificate and, in the
case of any such loss, theft or destruction, upon receipt of an indemnity
reasonably satisfactory to the Company, or in the case of any such mutilation
upon surrender and cancellation of such Warrant or stock certificate, the
Company will make and deliver a new Warrant or stock certificate, of like tenor,
in lieu of the lost, stolen, destroyed or mutilated Warrant or stock
certificate.

	Descriptive Headings. The descriptive headings of the several
paragraphs of this Warrant are inserted for convenience only and do not
constitute a part of this Warrant. The language in this Warrant shall be
construed as to its fair meaning without regard to which party drafted this
Warrant.

	Governing Law. This Warrant shall be construed and enforced in
accordance with, and the rights of the parties shall be governed by, the laws of
the State of California.

	Survival of Representations, Warranties and Agreements. All
representations and warranties of the Company and the holder hereof contained
herein shall survive the Date of Grant, the exercise or conversion of this
Warrant (or any part hereof) or the termination or expiration of rights
hereunder. All agreements of the Company and the holder hereof contained herein
shall survive indefinitely until, by their respective terms, they are no longer
operative.

	Remedies. In case any one or more of the covenants and agreements
contained in this Warrant shall have been breached, the holders hereof (in the
case of a breach by the Company), or the Company (in the case of a breach by a
holder), may proceed to protect and enforce their or its rights either by suit
in equity and/or by action at law, including, but not limited to, an action for
damages as a result of any such breach and/or an action for specific performance
of any such covenant or agreement contained in this Warrant.

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

	Severability. The invalidity or unenforceability of any provision of
this Warrant in any jurisdiction shall not affect the validity or enforceability
of such provision in any other jurisdiction, or affect any other provision of
this Warrant, which shall remain in full force and effect.

	Recovery of Litigation Costs. If any legal action or other proceeding
is brought for the enforcement of this Warrant, or because of an alleged
dispute, breach, default, or misrepresentation in connection with any of the
provisions of this Warrant, the successful or prevailing party or parties shall
be entitled to recover reasonable attorneys' fees and other costs incurred in
that action or proceeding, in addition to any other relief to which it or they
may be entitled.

	Entire Agreement; Modification. This Warrant constitutes the entire
agreement between the parties pertaining to the subject matter contained in it
and supersedes all prior and contemporaneous agreements, representations, and
undertakings of the parties, whether oral or written, with respect to such
subject matter.

	 	
E-LOAN, Inc.,

	 	
a Delaware Corporation

	
 
	 
	
 
	
By:/s/ Matthew Roberts

	
 
	
Title:CFO and Secretary

	 	
Address:5875 Arnold Road, Suite 100

	 	
Dublin, CA 94568

	 	 
	
Date of Grant: June 12, 2001

	
 

	
Agreed to and Accepted by:

	
 

	
Charles Schwab & Co., Inc.,

a Delaware corporation

	
 

	
 

	
By:/s/ Christopher V.
Dodds________________________________________

	
Title: Executive Vice President

	
and Chief Financial Officer

EXHIBIT A

NOTICE OF EXERCISE

To: E-LOAN, Inc.

(1)The undersigned hereby elects to purchase ____________
shares of Common Stock of E-LOAN, Inc. pursuant to the terms of the attached
Warrant, and tenders herewith payment of the purchase price in full, together
with all applicable transfer taxes, if any.

(1)Please issue a certificate or certificates representing said
shares of Common Stock in the name of the undersigned or in such other name as
is specified below:
___________________________

(Name)

___________________________

(Address)

The undersigned represents that the aforesaid shares of Common Stock

(Date)(Signature)

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