MICROVISION INC
EX-10.31
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<FILENAME>j8564_ex10d31.htm
<DESCRIPTION>EX-10.31
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
10.31</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MICROVISION, INC.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">a Washington corporation</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">COMMON STOCK PURCHASE
WARRANT</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certificate No. 17</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THESE WARRANTS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE &#147;ACT&#148;), OR APPLICABLE STATE SECURITIES LAWS.&#160; THESE WARRANTS ARE &#147;RESTRICTED SECURITIES&#148;
AS DEFINED IN RULE 144 UNDER THE ACT AND MAY NOT BE TRANSFERRED IN THE ABSENCE
OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS OR AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY AND ITS
COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This is to certify that, for value received and
subject to the terms and conditions set forth below, Microvision, Inc., a
Washington corporation (the &#147;Company&#148;), promises and agrees to sell and issue
to Burt S. Davis up to a total of 50,000 fully paid and nonassessable shares of
Common Stock, at any time up to and until 5:00 p.m., Seattle, Washington time,
on April 13, 2005, at a price of $53.00 per share.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Warrant Certificate is issued subject to the
following terms and conditions:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Definitions
of Certain Terms</u>.&#160; Except as may be
otherwise clearly required by the context, the following terms have the
following meanings:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;Common
Stock&#148; means the common stock, no par value, of the Company.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;Company&#148;
means Microvision, Inc., a Washington corporation.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;Exercise
Price&#148; means the price at which a Warrantholder may purchase one share of
Common Stock or other Securities upon exercise of Warrants, as determined from
time to time pursuant to the provisions hereof.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;Securities&#148;
means the securities issued or issuable upon exercise of the Warrants or
securities issued or issuable upon exercise, exchange, or conversion of such
securities.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;Warrant
Certificate&#148; means a certificate evidencing Warrants.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;Warrantholder&#148;
means a record holder of Warrants or Securities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;Warrants&#148;
means the warrants evidenced by this warrant certificate or any similar
certificate issued in replacement of any such certificate.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Exercise
of Warrants</u>.&#160; All or any part of the
Warrants evidenced by this Certificate may be exercised by surrendering this
Warrant Certificate, together with appropriate instructions, duly executed by
the Warrantholder or by his or her duly authorized attorney-in-fact, at the
office of the Company, 19910 North Creek Parkway, Bothell, WA 98011-3008, or at
such other office or agency as the Company may designate, accompanied by
payment in U.S. funds in full, in cash or certified or cashier&#146;s check, of the
Exercise Price payable with respect to the Warrants being exercised.&#160; Upon such surrender and payment, the Company
will provide the Warrantholder with a form of subscriptio<u>n</u> for the
Securities to be issued on exercise of the Warrants.&#160; Subject to the terms and conditions of this Warrant Certificate,
the Company will, as soon as practicable after said surrender and payment and
completion of such subscription by the Warrantholder, make arrangements with
its stock transfer agent to mail to the Warrantholder at the address specified
in the subscription a certificate or certificates evidencing the Securities
subscribed for.&#160; If fewer than all the
Warrants evidenced by this Warrant Certificate are exercised, the Company will,
upon such exercise, execute and deliver to the Warrantholder a new Warrant
Certificate (dated the date hereof), in form and tenor similar to this Warrant
Certificate, evidencing the Warrants not exercised.&#160; The Securities to be issued on exercise of the Warrants will be
deemed to have been issued, and any person exercising the Warrants will be
deemed to have become a holder of record of those Securities, as of the date of
the issuance of a certificate or certificates evidencing the Securities.&#160; The securities laws of the United States and
certain states thereof or other jurisdictions may require that a registration
statement registering the Securities to be issued on exercise of the Warrants
be effective, or that an exemption from registration be available, before the
Company may issue the Securities to the Warrantholder.&#160; The Company will use its best efforts to
take such actions under the Act and the laws of various states and other
jurisdictions as may be required to cause the issuance of Securities upon
exercise of Warrants to comply with applicable securities laws.&#160; However, the Company will not be required to
honor the exercise of Warrants if, in the opinion of the Company&#146;s Board of
Directors, upon advice of counsel, the issuance of Securities upon such
exercise would be unlawful.&#160; In such
event, the Company may elect to redeem Warrants submitted for exercise for a
price equal to the difference between (i) the closing price of the Securities
on the date of submission of the subscription for exercise of Warrants, as
reported by the principal exchange or market upon or through which the
Securities are then principally traded or quoted (the &#147;Exchange&#148;), and (ii) the
Exercise Price at the time of submission of the Securities subscribed for.&#160; In the event of such redemption, the Company
will pay to the Warrantholder the above-described</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>


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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">redemption price within&nbsp;ten business days after
the Warrantholder&#146;s submission of the subscription for the Securities.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Adjustments in
Certain Events</u>.&#160; The number, class
and price of Securities for which this Warrant Certificate may be exercised are
subject to adjustment from time to time upon the happening of certain events as
follows:</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If the outstanding shares of Common
Stock are divided into a greater number of shares or a dividend in stock is
paid on the Common Stock, the number of shares of Common Stock for which the
Warrants are then exercisable will be proportionately increased and the
Exercise Price will be proportionately reduced.&#160; Conversely, if the outstanding shares of Common Stock are
combined into a smaller number of shares of Common Stock, the number of shares
of Common Stock for which the Warrants are then exercisable will be
proportionately reduced and the Exercise Price will be proportionately increased.&#160; The increases and reductions provided for in
this Section 3.1&#160; will be made with the
intent and, as nearly as practicable, the effect that neither the percentage of
the total equity of the Company obtainable on exercise of the Warrants nor the
price payable for such percentage upon such exercise will be affected by any
event described in this Section 3.1.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In
case of any change in the Common Stock through merger, consolidation,
reclassification, reorganization, partial or complete liquidation, or other
change in the capital structure of the Company, then, as a condition of the
change in the capital structure of the Company, lawful and adequate provision
will be made so that the holder of this Warrant Certificate will have the right
thereafter to receive upon the exercise of the Warrants the kind and amount of
shares of stock or other securities or property to which he would have been
entitled if, immediately prior to such merger, consolidation, reclassification,
reorganization, recapitalization, or other change in the capital structure, the
Warrantholder had held the number of shares of Common Stock obtainable upon the
exercise of the Warrants.&#160; In such
event, the Exercise Price will be proportionately adjusted.&#160; In any such case, appropriate adjustment will
be made in the application of the provisions set forth herein with respect to
the rights and interest thereafter of the Warrantholder, to the end that the
provisions set forth herein will thereafter be applicable, as nearly as
reasonably may be, in relation to any shares of stock or other property
thereafter deliverable upon the exercise of the Warrants.&#160; The Company will not permit any change in
its capital structure to occur unless the issuer of the shares of stock or
other securities to be received by the holder of this Warrant Certificate, if
not the Company, agrees to be bound by and comply with the provisions of this
Warrant Certificate.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; When
any adjustment is required to be made in the number of shares of Common Stock,
other securities or the property purchasable upon exercise of the Warrants, the
Company will promptly determine the new number of such shares or other
securities or property purchasable upon exercise of the Warrants and (i)
prepare</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>


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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and retain on file a statement describing in reasonable detail the
method used in arriving at the new number of such shares or other securities or
property purchasable upon exercise of the Warrants and (ii) cause a copy of
such statement to be mailed to the Warrantholder within 30 days after the date
when the event giving rise to the adjustment occurred.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No
fractional shares of Common Stock or other securities will be issued in
connection with the adjustment of any Warrants, but the Company will pay, in
lieu of fractional shares, a cash payment therefor on the basis of the closing
price of the Securities as reported by the Exchange on the day immediately
prior to the effective date of the adjustment.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Reservation of
Securities</u>.&#160; The Company agrees that
the number of shares of Common Stock and other Securities sufficient to provide
for the exercise of the Warrants upon the basis set forth above will at all
times during the term of the Warrants be reserved for exercise.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Validity of
Securities</u>.&#160; All Securities
delivered upon the exercise of the Warrants will be duly and validly issued in
accordance with their terms, and the Company will pay all documentary and
transfer taxes, if any, in respect of the original issuance thereof upon
exercise of the Warrants.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Legending of
Securities</u>.&#160; All certificates
representing Securities delivered upon the exercise of the Warrants shall be
impressed with a legend indicating that the Securities are not registered under
the Act and reciting that the transfer thereof is restricted, such legend to be
in a form acceptable to counsel for the Company.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Transfer
Prohibited</u>.&#160; This Warrant and all
rights hereunder may not be transferred or assigned without prior written
approval of the Company.&#160; Any transfer
effected without the prior written approval of the Company shall be void.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Rights as a
Shareholder</u>.&#160; Except as otherwise
provided&#160; herein, the Warrantholder will
not, by virtue of ownership of Warrants, be entitled to any rights as a
shareholder of the Company.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Ownership</u>.&#160; The Company, and its Transfer Agent, and any
agent of the Company or its Transfer Agent may treat the bearer of this Warrant
Certificate as the absolute owner of the Warrants evidenced hereby for the
purpose of exercising the Warrants and for all other purposes whatsoever, and
notwithstanding any notice of ownership or writing thereon, or any notice of
previous loss or theft or other interest therein.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notice</u>.&#160; Any notices required or permitted to be
given hereunder may be given in writing personally or by mail or other
comparable delivery service at the address</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">determined below or at such other address as the party receiving notice
has theretofore furnished to the notifying party:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to the Company:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19910 North Creek Parkway</font></p>

<p style="margin:0in 0in .0001pt .75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">P.O. Box 3008</font></p>

<p style="margin:0in 0in .0001pt .75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bothell, WA&#160;
98011-3008</font></p>

<p style="margin:0in 0in .0001pt .75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attn:&#160;
Secretary</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to the Warrantholder:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Burt S. Davis</font></p>

<p style="margin:0in 0in .0001pt .75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1018 Ardsley Road</font></p>

<p style="margin:0in 0in .0001pt .75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Charlotte, NC&#160;
28207</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any notice given by mail will be deemed effectively given 48 hours after
mailing when deposited in the United States mail, registered or certified mail,
return receipt requested, postage prepaid and addressed as specified
above.&#160; Any notice given by courier or
other comparable form of delivery service will be deemed effectively given at
the date and time recorded for such delivery in the records of the delivery
service.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Applicable Law</u>.&#160; This Certificate will be governed by and
construed in accordance with the laws of the State of Washington.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.9%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated as of</font></p>
  </td>
  <td width="16%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in 0in 0in 0in;width:16.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;April 13, 2000</font></p>
  </td>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="52%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:52.48%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="47%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:47.52%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="52%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:52.48%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="47%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:47.52%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="52%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:52.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MICROVISION, INC.</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:47.52%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="52%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:52.48%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="47%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:47.52%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="52%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:52.48%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="47%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:47.52%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By: </font></p>
  </td>
  <td width="49%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in 0in 0in 0in;width:49.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Richard A. Raisig</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:47.52%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.14%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Richard A. Raisig</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:47.52%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.14%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial Officer</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 2.5in;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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