Amendment No. 1 to Promissory Note between ProUroCare Medical, Inc. and [Holder]
This amendment updates the terms of a promissory note between ProUroCare Medical, Inc. and the note holder. It extends the due date for repayment to the earlier of seven days after the company completes an underwritten public offering or December 31, 2008. The holder also gains the option to convert the outstanding principal and interest into common stock at a discounted rate if the offering occurs, instead of receiving cash repayment.
Exhibit 10.2
AMENDMENT #1 TO PROMISSORY NOTE DATED APRIL 3,
2008 BETWEEN PROUROCARE MEDICAL, INC.
(“CORPORATION”) AND [Holder]
This Amendment #1 to Promissory Note dated April 3, 2008 between Corporation and [Holder] (the “Note”) is made to extend the due date of the Note.
Note Amendment:
Payment in full of the Note’s principal plus interest accrued thereon is due on the earlier of the seven days after the date Corporation closes on an underwritten public offering of equity securities or December 31, 2008. Reiling shall have the option of converting the principal and interest into shares of the Corporation’s common stock at price equal to 70% of the price of the securities sold in that underwritten public offering, in lieu of cash.
EXECUTED this 12th day of September, 2008.
| ProUroCare Medical Inc. |
| [Holder] |
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| Richard C. Carlson |
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| CEO |
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