Promissory Note Between W. Mark Lortz and Therasense, Inc. for $72,495 Secured by Common Stock

Summary

W. Mark Lortz promises to repay Therasense, Inc. $72,495 with no interest. The full amount is due by March 5, 2003, or earlier if Lortz leaves the company. The loan is secured by 289,980 shares of Therasense common stock. If the note is not repaid, Therasense can seek repayment from Lortz directly without first using the stock as collateral. Legal fees may be added if collection requires a lawsuit.

EX-10.18 23 dex1018.txt PROMISSORY NOTE FOR PRINCIPAL AMOUNT OF $72,495.00 EXHIBIT 10.18 EXHIBIT A --------- PROMISSORY NOTE $72,495 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 $72,495.00 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 289,980 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/ W. Mark Lortz --------------------------- W. Mark Lortz