Unsecured Promissory Note
Dated June 30, 2010
For value received, Alexza Pharmaceuticals, Inc., a Delaware corporation (“Alexza” or “Maker”), whose
address is 2091 Stierlin Court, Mountain View, California 94043, promises to pay to the order of Autoliv ASP,
Inc., an Indiana corporation (“Autoliv” or “Payee”), whose address is 3350 Airport Road, Ogden, UT 84405, at
such place as Payee may designate, the principal sum of Four Million Dollars ($4,000,000.00), plus interest on
the unpaid principal balance from January 1, 2011 until all amounts outstanding hereunder are paid in full at a
fixed interest rate of eight percent (8%) per annum, to be paid in lawful money of the United States in Forty-Eight
(48) consecutive equal monthly installments of principal and interest of Ninety-Seven Thousand Four Dollars and
Ninety-Nine Cents ($97,004.99).
The first monthly installment shall be due and payable on January 1, 2011 and subsequent monthly installments
shall be due and payable on the same day of each succeeding month; provided that any payment due on a day
that is not a business day shall be payable on the following business day. Each payment may, at the option of the
Payee, be calculated and applied on an assumption that such payment would be made on its due date and that
each year consists of twelve months of even duration.
The acceptance of Payee of any payment which is less than payment in full of all amounts due and owing at such
time shall not constitute a waiver of Payee’s right to receive payment in full at such time or at any prior or
Maker may, at any time, prepay in full or in part any indebtedness hereunder without penalty, which prepayment
shall be applied first to accrued but unpaid interest and then principal. If prepayment is made in part, Maker will
execute and tender, and Payee shall accept, a replacement note which reflects the amortization of the remaining
principal, plus interest, over the then-remaining monthly installments.