Promissory Note Between Charlie Liamos and TheraSense, Inc. Dated March 5, 1999

Summary

Charlie Liamos promises to repay TheraSense, Inc. $15,187.50 with no interest. The full amount is due by March 5, 2003, or earlier if Liamos leaves the company. The loan is secured by 60,750 shares of TheraSense common stock. If legal action is needed to collect the debt, reasonable attorney fees may be added. The company can seek repayment directly from Liamos without first using the pledged shares as collateral.

EX-10.16 21 0021.txt PROMISSORY NOTE DATED MARCH 5, 1999 EXHIBIT 10.16 EXHIBIT A --------- PROMISSORY NOTE $15,187.50 March 5, 1999 For value received, the undersigned promises to pay to TheraSense, Inc., a California corporation (the "Company"), or order, at its principal office the principal sum of $15,187.50 without interest. Said principal shall be due on the earlier of March 5, 2003, or (ii) the undersigned's termination of employment with or services to the Company. Should suit be commenced to collect this Note or any portion thereof, such sum as the Court may deem reasonable shall be added hereto as attorneys' fees. The maker waives presentment for payment, protest, notice of protest, and notice of non-payment of this Note. This Note is secured by a pledge of 60,750 shares of Common Stock of the Company, pursuant to the provisions of the Common Stock Purchase and Security Agreement between the Company and the undersigned executed contemporaneously with this Note. The holder of this Note shall have full recourse against the maker, and shall not be required to proceed against the Shares or other collateral securing this Note in the event of default. /s/ Charlie Liamos --------------------------- Charlie Liamos