Document:

Form of Unsecured Convertible Promissory Note Due 2013, as amended

 Exhibit 4.6 
 THIS CONVERTIBLE PROMISSORY NOTE AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR UNDER THE
SECURITIES LAWS OF ANY STATE. THIS CONVERTIBLE PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO THE DISTRIBUTION THEREOF. THIS CONVERTIBLE PROMISSORY NOTE AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND REGISTRATION OR QUALIFICATION UNDER APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL THAT SUCH PROPOSED
TRANSFER DOES NOT VIOLATE THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. 
 MRI INTERVENTIONS, INC.

 UNSECURED CONVERTIBLE PROMISSORY NOTE DUE 2013 

 

			
	 US$______________
	  	___________, 2011

 FOR VALUE RECEIVED, the undersigned, MRI INTERVENTIONS, INC., a Delaware corporation (the
“Company”), hereby promises to pay to the order of                     , a
                    , or its assigns (collectively, the “Holder”), the principal amount of
                     Dollars (US
$                    ), together with any accrued and unpaid interest thereon as described herein. 

1. Definitions. In addition to the terms defined elsewhere in this Note, the following terms have the meanings indicated:

 “Business Day” means any day other than a Saturday, Sunday or other day on which banks in Memphis, Tennessee
are required to be closed. 
 “Common Stock” means the Company’s common stock, par value $.01 per share.

 “Continuing Company” means the public company that continues following the closing of a Reverse Merger.

 “IPO” means the initial underwritten public offering of the Company’s Common Stock pursuant to an
effective registration statement under the Securities Act. 
 “IPO Conversion Price” means sixty percent
(60%) of the per share public offering price of the Company’s Common Stock in its IPO. 
 “Person”
means any individual or entity. 
 “Qualified Financing” means a financing transaction that occurs after a
Reverse Merger in which the Continuing Company issues shares of its capital stock in exchange for cash proceeds, if such transaction provides gross proceeds to the Continuing Company of at least $5,000,000. 

  
 1 

 “Qualified Financing Conversion Price” means sixty percent (60%) of
the per share price paid by investors in the Qualified Financing for a share of Qualified Financing Stock. 
 “Qualified
Financing Stock” means shares of the Continuing Company’s capital stock issued in a Qualified Financing. 

“Reverse Merger” means a business combination transaction involving the Company and a public company (which could
include, but is not limited to, a public shell) after which the public company continues and survives but less than a majority of the combined voting power of the then-outstanding securities of such public company immediately after such transaction
are held, directly or indirectly, in the aggregate by the holders of securities entitled to vote generally in the election of directors of the public company immediately prior to such transaction. 

“Reverse Merger Conversion Price” means a conversion price per share determined prior to the closing of a Reverse Merger
in accordance with the next sentence. In the event of a pending Reverse Merger, the Company and the Holder will work together in good faith to establish an equitable conversion price per share that effectively represents a forty percent
(40%) discount factor. 
 2. Principal Amount. The principal amount represented by this Convertible Promissory Note
(this “Note”) is                      Dollars
(US$                ). 
 3.
Interest. The unpaid principal balance from time to time outstanding hereunder shall bear interest from the date hereof until paid in full at a fixed rate of fifteen percent (15.0%) per annum. Interest will accrue on this Note from its
original issuance date on the basis of a 360-day year consisting of twelve 30 day months. 
 4. Payment of Principal and
Interest. Subject to earlier payment or conversion as provided for elsewhere in this Note, the Company shall pay to the Holder the entire unpaid principal amount and all unpaid accrued interest under this Note in full on
                , 2013 (the “Maturity Date”). Principal and interest due hereunder shall be paid in lawful money of the United States of America
in immediately available federal funds or the equivalent at the address of the Holder set forth in Section 6 below or at such other address as the Holder may designate. All payments made hereunder shall first be applied to interest then
due and payable, and any excess payment shall then be applied to reduce the principal amount. Upon payment in full of all principal and interest payable hereunder, the Holder shall surrender this Note to the Company for cancellation. 

5. Conversion of Note. 
 (a) Conversion upon IPO. Simultaneous with the closing of an IPO, the entire outstanding principal amount of this Note and all accrued interest then outstanding shall automatically be converted
into shares of Common Stock. The number of shares of Common Stock issuable upon a conversion pursuant to this Section 5(a) shall equal (i) the sum of the outstanding principal amount of this Note and all accrued interest then
outstanding, divided by (ii) the IPO Conversion Price. 

  
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 (b) Conversion with Reverse Merger. Provided the Company and the
Holder reach agreement as to the Reverse Merger Conversion Price, the entire outstanding principal amount of this Note and all accrued interest then outstanding shall be converted into shares of Common Stock in connection with (and prior to the
closing of) a Reverse Merger. The number of shares of Common Stock issuable upon a conversion pursuant to this Section 5(a) shall equal (i) the sum of the outstanding principal amount of this Note and all accrued interest then
outstanding, divided by (ii) the Reverse Merger Conversion Price. Unless an earlier conversion date is agreed between the Company and the Holder, a conversion under this Section 5(b) shall be deemed effective as of the day
immediately preceding the closing date of the Reverse Merger. In the absence of agreement between the Company and the Holder as to the Reverse Merger Conversion Price, this Note shall not convert pursuant to this Section 5(b).

 (c) Conversion upon Qualified Financing. Subject to earlier conversion in connection with a Reverse
Merger, simultaneous with the closing of a Qualified Financing, the entire outstanding principal amount of this Note and all accrued interest then outstanding shall automatically be converted into shares of Qualified Financing Stock. The number of
shares of Qualified Financing Stock issuable upon a conversion pursuant to this Section 5(c) shall equal (i) the sum of the outstanding principal amount of this Note and all accrued interest then outstanding, divided by
(ii) the Qualified Financing Conversion Price. 
 (d) Reservation of Shares. The number of shares
issuable and deliverable upon the conversion of this entire Note shall be reserved and kept available out of authorized but unissued and otherwise unreserved capital stock, solely for the purpose of issuance as required hereunder, free from
preemptive rights or any other contingent purchase rights of Persons other than the Holder. All shares so issuable and deliverable shall, upon issuance in accordance with the terms hereof, be duly and validly authorized and issued and fully paid and
nonassessable. 
 (e) Mechanics of Conversion. As soon as practicable upon conversion of this Note,
(i) a certificate for the shares issuable upon such conversion, with such restrictive legends as are appropriate under the circumstances, shall be issued and delivered to or upon the written order of the Holder in such name or names as the
Holder may designate, and (ii) the Holder shall surrender this Note for cancellation. The Holder, or any Person so designated by the Holder to receive shares, shall be deemed to have become holder of record of such shares as of the conversion
date. 
 (f) No Fractional Shares. No fractional shares shall be issued upon any conversion of this Note.
If any fraction of a share would, except for the provisions of this Section 5(f), be issuable upon conversion of this Note, the number of shares to be issued will be rounded up to the nearest whole share. 

  
 3 

 6. Notices. All notices and other communications required or permitted hereunder to
be given to a party to this Note shall be in writing and shall be faxed, mailed by registered or certified mail postage prepaid, delivered by a national overnight delivery service, or otherwise delivered by hand, electronically (including by email)
or by messenger, addressed to such party’s address as set forth below: 
  

			
	 if to the Company:
	  	MRI Interventions, Inc.
		  	Attention: Vice President, Business Affairs
		  	One Commerce Square, Ste 2550
		  	Memphis TN 38103
		  	Facsimile: (901) 522-9400
		
	 if to the Holder:
	  	 
		
		  	 
		
		  	 
		
		  	 

 or such other address with respect to a party as such party shall notify each other party in writing as above provided.
Any notice sent in accordance with this Section 6 shall be effective upon the earlier of: (i) if mailed, seven Business Days after mailing; (ii) if sent by messenger, upon delivery; (iii) if sent by a nationally recognized
overnight delivery service, one Business Day after having been dispatched; (iv) if sent via fax, upon transmission and electronic confirmation of transmission or (if transmitted and received on a non-Business Day) on the first Business Day
following transmission and electronic confirmation of transmission (provided, however, that any notice of change of address shall only be valid upon receipt); (v) if sent by electronic mail, upon transmission and notice by telephone of such
transmission or (if transmitted and received on a non-Business Day) on the first Business Day following transmission and notice by telephone; and (vi) upon the actual receipt thereof. 

7. Default and Remedies. 
 (a) An “Event of Default” under this Note shall mean the occurrence of any of the following events: 

(i) If the Company shall fail to make when due the payment of the principal amount or interest as required by this Note,
whether at the due date thereof or by acceleration thereof or otherwise; or 
 (ii) The commencement by the
Company of any bankruptcy, insolvency, receivership or similar proceedings under any federal or applicable state law; or the commencement against the Company of any bankruptcy, insolvency, receivership or similar proceeding under any federal or
applicable state law by creditors of the Company or other similar law of any jurisdiction, provided, that such proceeding shall not be deemed an Event of Default if such proceeding is dismissed within ninety (90) days of commencement.

 (b) Upon and during the continuation of an Event of Default, the Holder may declare the outstanding principal
amount, and all accrued and unpaid interest on the principal amount, immediately due and payable, and such amount shall be collectible immediately or at any time after such Event of Default. The rights and remedies provided by this Note shall be
cumulative, and shall be in addition to, and not exclusive of, any other rights and remedies available at law or in equity. 

  
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 8. Assignability. Neither party may assign this Note without the prior consent of the
other party. No such assignment shall constitute a novation or release of the Company of the obligations hereof or from any liability to the Holder. 
 9. Usury Laws. It is the intention of the Company and the Holder to conform strictly to all applicable usury laws now or hereafter in force, and any interest payable under this Note shall be
subject to reduction to an amount that is the maximum legal amount allowed under the applicable usury laws as now or hereafter construed by the courts having jurisdiction over such matters. The aggregate of all interest (whether designated as
interest, service charges, points or otherwise) contracted for, chargeable, or receivable under this Note shall under no circumstances exceed the maximum legal rate upon the principal amount remaining unpaid from time to time. If such interest does
exceed the maximum legal rate, it shall be deemed a mistake and such excess shall be canceled automatically and, if theretofore paid, rebated to the Company or credited on the principal amount, or if this Note has been repaid, then such excess shall
be rebated to the Company. 
 10. Miscellaneous. 

(a) Any amendment hereto or waiver of any provision hereof must be in writing and signed by both the Company and the
Holder. 
 (b) Wherever in this Note reference is made to the Company or the Holder, such reference shall be
deemed to include, as applicable, a reference to their respective successors and permitted assigns, and the provisions of this Note shall be binding upon and shall inure to the benefit of such successors and permitted assigns. 

(c) This Note shall in all respects be governed by and construed in accordance with the laws of the State of Delaware
without regard to conflicts of law principles of any jurisdiction to the contrary. 
 (d) The captions of the
Sections of this Note are inserted solely for ease of reference and shall not be considered in the interpretation or construction of this Note. 
 (e) The Holder, by acceptance of this Note, hereby represents and warrants that (i) the Holder is an “accredited investor” as defined in Rule 501(a) of Regulation D under the Securities
Act, (ii) the Holder has been offered the opportunity to obtain information from the Company, to verify the accuracy of the information received by it and to evaluate the merits and risks of its investment in the Company, and to ask questions
of and receive satisfactory answers concerning the terms and conditions of its investment in the Company, and (iii) the Holder has acquired this Note for investment only and not for resale or distribution. The Holder, by acceptance of this
Note, further understands, covenants and agrees that the Company is under no obligation and has made no commitment to provide for registration of this Note or shares of Common Stock issuable upon conversion of this Note under the Securities Act or
applicable state securities laws. 

  
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 (f) The Company waives presentment, notice and demand, notice of protest,
notice of demand and dishonor, and notice of nonpayment of this Note. 
 (g) In the event that any provision of
this Note is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law.
Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of this Note. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A
JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY. 
 (h) No delay in the exercise of any right or remedy of any party hereto shall operate as a waiver thereof, and no single or partial exercise of any such right or remedy shall preclude other or future
exercise thereof or the exercise of any other right or remedy. 
 (i) It is expressly understood and agreed by
the parties hereto that if it is necessary to enforce payment of this Note through the engagement or efforts of an attorney or by suit, the Company shall pay reasonable attorneys’ fees, expenses of counsel, and other costs of collection
actually incurred by the Holder. 
 (j) The Company may not prepay this Note, in whole or in part, without the
prior written consent of the Holder. 
 (k) This Note may be executed in counterparts, each of which shall be
deemed an original, but both of which shall constitute one and the same Note. 
 [The next page is the signature page]

  
 6 

 IN WITNESS WHEREOF, the Company has executed, acknowledged and delivered this Note as
of the day and year first above written. 
  

			
	MRI INTERVENTIONS, INC.
		
	By:	 	 
	Printed:	 	 
	Title:	 	 

  

			
	AGREED TO AND ACCEPTED BY:
	
	_________________________
		
	By:	 	 
	Printed:	 	 
	Title:	 	 

  
 7 

 AMENDMENT TO 
 UNSECURED CONVERTIBLE PROMISSORY NOTE DUE 2013 
 THIS AMENDMENT
TO UNSECURED CONVERTIBLE PROMISSORY NOTE DUE 2013 (this “Amendment”) is made and entered into as of December     , 2011, by and between MRI INTERVENTIONS, INC., a Delaware corporation (the
“Company”) and [                                ] (the
“Holder”). 
 WHEREAS, the Company issued to the Holder that certain Unsecured Convertible Promissory
Note Due 2013 in the original principal amount of $[                ], dated as of
[                        ], 2011 (the “Note”); and 

WHEREAS, the Company and the Holder desire to amend the Note to allow and provide for certain matters all as hereinafter set
forth. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows: 
 1. Definitions. Capitalized terms used in this
Amendment, to the extent not otherwise defined herein, shall have the same meanings as in the Note, as amended hereby. 
 2.
Amendment to Section 1. Section 1 of the Note (Definitions) is hereby amended by adding the following definition for the term “Form 10 Conversion Price”: 

“Form 10 Conversion Price” means $0.60 per share. 

3. Amendment to Section 5. Section 5 of the Note (Conversion of Note) is hereby amended by adding the following new
Section 5(g): 
 (g) Conversion Upon Common Stock Registration. Upon the effective date of a Form 10 or other
registration statement pursuant to which the Common Stock is registered as a class of securities under the Securities Exchange Act of 1934, as amended, the entire outstanding principal amount hereunder, together with all accrued but unpaid interest,
shall automatically be converted into Common Stock. The number of shares of Common Stock issuable upon a conversion pursuant to this Section 5(g) shall equal the outstanding principal amount of this Note and all accrued but unpaid
interest thereon divided by the Form 10 Conversion Price. 
 4. Miscellaneous. The Note and any and all other agreements,
documents or instruments now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Note as amended hereby, are hereby amended so that any reference in such documents to the Note shall mean a reference to
the Note, as amended hereby. The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms and provisions set forth in the Note and except as expressly modified and superseded by this Amendment, the terms and
provisions of the Note are ratified and confirmed and shall continue in full force and effect. 
 [The next page is the signature
page] 

  
 1 

 IN WITNESS WHEREOF, the Company and the Holder have caused this Amendment to be
executed and delivered effective as of the day and year first written above. 
  

			
	THE COMPANY:
	
	MRI INTERVENTIONS, INC.
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

	
	THE HOLDER:
	
	  
	Print name of the Holder
	
	 
	Signature

  
 2Form of 10% Secured Convertible Promissory Note Due 2014

 Exhibit 4.7 
 THIS PROMISSORY NOTE AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR UNDER THE SECURITIES
LAWS OF ANY STATE. THIS PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO THE DISTRIBUTION THEREOF. THIS PROMISSORY NOTE AND THE SECURITES ISSUABLE UPON CONVERSION HEREOF MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR
HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND REGISTRATION OR QUALIFICATION UNDER APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL THAT SUCH PROPOSED TRANSFER DOES NOT VIOLATE THE SECURITIES
ACT AND APPLICABLE STATE SECURITIES LAWS. 
 THIS PROMISSORY NOTE AND THE RIGHTS AND OBLIGATIONS EVIDENCED HEREBY ARE SUBORDINATE IN THE
MANNER AND TO THE EXTENT SET FORTH IN SECTION 7 BELOW. THE HOLDER OF THIS INSTRUMENT, BY ITS ACCEPTANCE HEREOF, IRREVOCABLY AGREES TO BE BOUND BY SUCH PROVISIONS. 
 MRI INTERVENTIONS, INC. 
 10% SECURED CONVERTIBLE PROMISSORY NOTE DUE 2014

  

			
	
US$                       
 
	  	                           
 , 2011

 FOR VALUE RECEIVED, the undersigned, MRI INTERVENTIONS, INC., a Delaware corporation (the
“Company”), hereby promises to pay to the order of              or its registered assigns (collectively, the “Holder”) the principal amount of
             Dollars (US $            ), together with accrued and unpaid interest thereon as described herein.

 1. Definitions. In addition to the terms defined elsewhere in this Note, the following terms have the meanings
indicated: 
 “BSC Debt” means all indebtedness, including principal and all accrued interest thereon,
outstanding under those certain Secured Convertible Promissory Notes issued by the Company to Boston Scientific Corporation dated as of October 16, 2009, November 17, 2009 and December 18, 2009, respectively, in the aggregate
original principal amount of $3,500,000, as such notes may be amended and in effect from time to time. 
 “Business
Day” means any day other than a Saturday, Sunday or other day on which banks in Memphis, Tennessee are required to be closed. 
 “Collateral Agent” means the collateral agent under the Security Agreement. 
 “Common Stock” means the Company’s common stock, par value $.01 per share, or any capital stock resulting from a reclassification of such common stock. 

“Conversion Price” means $0.60, subject to adjustment from time to time pursuant to Section 9 hereof.

 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  
 1 

 “Derivative Securities” means any securities or rights convertible into, or
exercisable or exchangeable for (in each case, directly or indirectly), Common Stock, including options and warrants. 

“IPO” means an underwritten public offering of shares of Common Stock for the account of the Company pursuant to an
effective registration statement under the Securities Act. 
 “Notes” means, collectively, this Note and all
other secured convertible promissory notes issued by the Company in the same financing transaction (whether in a single closing or multiple closings). 
 “New Securities” means, collectively, equity securities of the Company, whether or not currently authorized, as well as rights, options, or warrants to purchase such equity securities, or
securities of any type whatsoever that are, or may become, convertible or exchangeable into or exercisable for such equity securities; provided, however, that the term “New Securities” does not include (a) securities issued pursuant
to the Company’s direct or indirect acquisition of another Person by (i) merger, (ii) purchase of assets or (iii) other reorganization whereby the Company becomes the owner of more than fifty percent (50%) of the voting
power of such Person, (b) securities issued upon exercise or conversion of any options, warrants, notes or other convertible securities, (c) securities (including, but not limited to, options) granted or issued to employees, officers,
directors, consultants or advisors of the Company pursuant to plans or agreements approved by the Company’s Board of Directors or a duly authorized committee thereof, (d) securities issued in a public offering pursuant to an effective
registration statement under the Securities Act, (e) securities issued in connection with sponsored research, collaboration, technology license, development, OEM, distribution, marketing or other similar agreements or strategic partnerships
approved by the Company’s Board of Directors or a duly authorized committee thereof, or (f) securities issued with the consent of the Required Holders. 
 “Person” means any individual or entity. 
 “Required
Holders” means, at any time, holders of a majority in aggregate principal amount of the Notes then outstanding. 

“Sale Transaction” means a transaction or series of related transactions pursuant to which (a) the Company is
merged, consolidated or reorganized into or with another Person, or securities of the Company are exchanged for securities of another Person, and immediately after such merger, consolidation, reorganization or exchange less than a majority of the
combined voting power of the then-outstanding securities of such Person immediately after such transaction are held, directly or indirectly, in the aggregate by the holders of securities entitled to vote generally in the election of directors of the
Company immediately prior to such transaction, or (b) the Company sells all or substantially all of its assets to any other Person and less than a majority of the combined voting power of the then-outstanding securities of such Person
immediately after such sale are held, directly or indirectly, in the aggregate by the holders of securities entitled to vote generally in the election of directors of the Company immediately prior to such sale. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Security Agreement” means that certain Security Agreement by and between the Company and Landmark Community Bank, as
collateral agent for the ratable benefit of the holders of the Notes. 
 “Subordination Agreement” shall mean a
subordination agreement entered into with Boston Scientific Corporation to evidence the senior priority of the BSC Debt as otherwise contemplated in Section 7 hereof. 

  
 2 

 2. Principal Amount. The principal amount represented by this Secured Convertible
Promissory Note (this “Note”) is             Dollars (US$            ). 

3. Interest. The unpaid principal balance from time to time outstanding hereunder shall bear interest from the date hereof until
paid in full at a fixed rate of ten percent (10.0%) per annum. Interest will accrue on this Note from and including its original issuance date on the basis of a 360-day year consisting of twelve 30 day months. 

4. Payment of Principal and Interest. Subject to earlier payment or conversion as provided for elsewhere in
this Note, the Company shall pay to the Holder the entire unpaid principal amount and all unpaid accrued interest under this Note in full on the third (3rd) year anniversary of the original issuance date (the “Maturity Date”). Principal and interest
due hereunder shall be paid in lawful money of the United States of America in immediately available federal funds or the equivalent at the address of the Holder set forth in Section 12 below or at such other address as the Holder may
designate. All payments made hereunder shall first be applied to interest then due and payable and any excess payment shall then be applied to reduce the principal amount. Upon payment in full of all principal and interest payable hereunder, the
Holder shall surrender this Note to the Company for cancellation. 
 5. Prepayment. Subject to the provisions of
Section 7 hereof, the Company shall be permitted to prepay, without penalty or premium, all or any portion of the unpaid principal amount and/or any unpaid accrued interest under this Note at any time prior to the Maturity Date, upon no
less than 15 days prior written notice to the Holder. 
 6. Security Interest. This Note is secured by a security
interest in the Company’s property and assets pursuant to the Security Agreement, to which reference is made for a description of the security for this Note. 
 7. Subordination. Notwithstanding any provision herein to the contrary, the Company and the Holder hereby agree that the obligations of the Company to the Holder hereunder shall be subordinated in
all respects, including in right of payment, to the BSC Debt and that the Holder shall not be entitled to receive any payment from the Company hereunder (other than as contemplated in Section 8 below) until the BSC Debt has been
discharged in full. The Holder, by its acceptance of this Note, (a) authorizes the Collateral Agent on the Holder’s behalf to take such action as may be necessary or appropriate to further effectuate the subordination as provided in this
Section 7, including, without limitation, the execution and delivery of a Subordination Agreement with Boston Scientific Corporation, and (b) appoints the Collateral Agent its attorney-in-fact for any and all such purposes. The
Holder of this Note, whether upon original issue or upon transfer or assignment hereof, by such Holder’s acceptance hereof, agrees that this Note shall be subject to the provisions of any such Subordination Agreement. 

8. Conversion into Common Stock. 
 (a) Optional Conversion. Subject to earlier payment or conversion as provided for elsewhere in this Note, this Note (the entire outstanding principal amount hereunder, together with all unpaid
accrued interest) may be converted into shares of Common Stock at the option of the Holder. The Holder shall effect a conversion under this Section 8(a) by delivering to the Company notice of the Holder’s election to convert this
Note (“Conversion Notice”). The number of shares of Common Stock issuable upon a conversion pursuant to this Section 8(a) shall equal (i) the sum of the outstanding principal amount plus all unpaid accrued interest,
divided by (ii) the then effective Conversion Price as of the date the Conversion Notice is delivered to the Company. 

  
 3 

 (b) Mandatory Conversion Upon Securities Registration. Subject to
earlier payment or conversion as provided for elsewhere in this Note, upon any of (i) the closing of an IPO; (ii) the effective date of a Form 10 or other registration statement pursuant to which the Common Stock is registered as a class
of securities under the Exchange Act; or (iii) the effective date, but immediately prior to the effective time, of the closing of a merger, share exchange or other similar transaction pursuant to which the Company merges or exchanges shares
with another Person (or a subsidiary of such Person) that has a class of securities registered under the Exchange Act, regardless of whether the Company, such other Person or a subsidiary of such other Person survives such transaction; the entire
outstanding principal amount hereunder, together with all unpaid accrued interest, shall automatically be converted into shares of Common Stock. The number of shares of Common Stock issuable upon a conversion pursuant to this
Section 8(b) shall equal (A) the sum of the outstanding principal amount plus all unpaid accrued interest, divided by (B) the then effective Conversion Price. 

(c) Mandatory Conversion Upon Sale Transaction. Subject to earlier payment or conversion as provided for elsewhere
in this Note, upon the effective date, but immediately prior to the effective time, of the closing of a Sale Transaction, the entire outstanding principal amount hereunder, together with all unpaid accrued interest, shall automatically be converted
into shares of Common Stock. The number of shares of Common Stock issuable upon a conversion pursuant to this Section 8(c) shall equal (i) the sum of the outstanding principal amount plus all unpaid accrued interest, divided by
(ii) the then effective Conversion Price. 
 (d) Mandatory Conversion Upon Consent of Required
Holders. Subject to earlier payment or conversion as provided for elsewhere in this Note, upon the date and time, or the occurrence of an event, specified by vote or written consent of the Required Holders, the entire outstanding principal
amount hereunder, together with all unpaid accrued interest, shall automatically be converted into shares of Common Stock. The number of shares of Common Stock issuable upon a conversion pursuant to this Section 8(d) shall equal
(1) the sum of the outstanding principal amount plus all unpaid accrued interest, divided by (2) the then effective Conversion Price as of the date and time specified, or the time of the event specified, in such vote or written consent of
the Required Holders. 
 (e) Procedural Requirements. As soon as practicable upon conversion, the Holder
shall surrender this Note (or, if the Holder alleges that this Note has been lost, stolen or destroyed, a lost note affidavit and agreement reasonably acceptable to the Company to indemnify the Company against any claim that may be made against the
Company on account of the alleged loss, theft or destruction of this Note) to the Company. As soon as practicable after the Holder’s surrender of this Note (or such lost note affidavit and agreement), the Company shall issue or cause to be
issued and deliver or cause to be delivered to or upon the written order of the Holder and in such name or names as the Holder may designate a certificate for the shares of Common Stock issuable upon such conversion, with such restrictive legends as
deemed necessary by the Company. The Holder, or any Person so designated by the Holder to receive shares, shall be deemed to have become holder of record of such shares as of the conversion date. Upon conversion, all rights with respect to this Note
will terminate (notwithstanding the failure of the Holder to surrender this Note to the Company), except only the rights of the Holder, upon surrender of this Note (or lost note affidavit and agreement), to receive the shares of Common Stock as
provided above. 
 (f) No Fractional Shares. The Company shall not issue or cause to be issued fractional
shares of Common Stock on conversion of this Note. If any fraction of a share of Common Stock would, except for the provisions of this Section 8(f), be issuable upon conversion of this Note, the number of shares of Common Stock to be
issued shall be rounded up to the nearest whole share. 

  
 4 

 (g) Reservation of Shares. The Company covenants that it will at all
times reserve and keep available out of its authorized but unissued and otherwise unreserved shares of Common Stock, solely for the purpose of enabling it to issue shares of Common Stock as required hereunder, the number of shares of Common Stock
which are then issuable and deliverable upon the conversion of this Note (taking into account the adjustments set forth in Section 9), free from preemptive rights or any other contingent purchase rights of Persons other than the Holder.
The Company covenants that all shares of Common Stock so issuable and deliverable shall, upon issuance in accordance with the terms hereof, be duly and validly authorized and issued and fully paid and non-assessable. 

9. Certain Adjustments. The Conversion Price is subject to adjustment from time to time as set forth in this
Section 9. 
 (a) Stock Dividends and Splits. If the Company, at any time while this Note is
outstanding, (i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides outstanding shares of Common Stock into a larger number
of shares, or (iii) combines outstanding shares of Common Stock into a smaller number of shares, then in each such case the Conversion Price shall be appropriately and equitably adjusted to reflect such event. Any adjustment made pursuant to
Section 9(a)(i) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to Section 9(a)(ii) or
Section 9(a)(iii) shall become effective immediately after the effective time of such subdivision or combination. 
 (b) Reorganization, Reclassification, Etc. In case of any capital reorganization, or of any reclassification of the capital stock of the Company (other than a change in par value or from par value
to no par value or from no par value to par value or as a result of a split-up or combination) or in case of the consolidation or merger of the Company with or into any other Person (other than (i) a consolidation or merger in which the Company
is the continuing entity and which does not result in the Common Stock being changed into or exchanged for stock or other securities or property of any other Person, (ii) a Sale Transaction, or (iii) a consolidation or merger contemplated
in Section 8(b) above), the Holder shall have the right immediately thereafter to receive upon the conversion hereof, based on the same Conversion Price in effect immediately prior to such event, the kind and amount of shares of stock or
other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, by a holder of the number of shares of Common Stock into which this Note is convertible immediately prior to such event;
and if any reclassification also results in a change covered by Section 9(a), then such adjustment shall be made pursuant to Section 9(a) and this Section 9(b). The provisions of this Section 9(b)
shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations. 
 (c)
Calculations. All calculations under this Section 9 shall be made to the nearest cent. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account of the Company.

 (d) Notice of Adjustments. Upon the occurrence of an adjustment pursuant to this Section 9,
the Company, at its expense, will promptly compute such adjustment in accordance with the terms hereof and prepare and deliver to the Holder a certificate describing in reasonable detail such adjustment and the transactions giving rise thereto,
including all facts upon which such adjustment is based; provided, however, that any failure of the Company to prepare and deliver such certificate, or any defect therein, shall not in any way impair or affect the validity of the adjustment required
to be described in such certificate. 

  
 5 

 (e) Notice of Corporate Events. If the Company: (i) declares a
dividend or any other distribution of cash, securities or other property in respect of its Common Stock; (ii) authorizes or approves, enters into any agreement contemplating, or solicits stockholder approval for, any merger, share exchange or
other similar transaction; or (iii) authorizes the voluntary dissolution, liquidation or winding up of the affairs of the Company, then the Company shall deliver to the Holder a notice describing the material terms and conditions of such
transaction, at least ten (10) days prior to the applicable record or effective date on which a Person would need to hold Common Stock in order to participate in such transaction; provided, however, that the failure to deliver such notice, or
any defect therein, shall not in any way impair or affect the validity of the corporate action required to be described in such notice. 
 10. Default; Acceleration; Waiver. 
 (a) An “Event
of Default” under this Note shall mean the occurrence of any of the following events: 
 (i) The Company
shall fail to make payment of any amount as required by this Note within fifteen (15) days after the same becomes due and payable, whether at the stated Maturity Date or any accelerated date of maturity; 

(ii) Commencement of proceedings for the liquidation of the Company, or any other termination or winding-up of its
existence or business, 
 (iii) Material breach by the Company of any provision of the
Security Agreement, provided, that such breach shall not be deemed an Event of Default if such breach is cured prior to the thirty-first (31st) day following written notice of such breach from either the Required Holders or the Collateral Agent;

 (iv) A material representation or warranty made by the Company in the Security Agreement
shall prove to have been false in any material respect when made, provided, that such breach shall not be deemed an Event of Default if such breach is cured prior to the thirty-first (31st) day following the date the Company becomes aware of the factual circumstances giving rise to the breach, unless
such breach has had a material impairment on the Holder’s rights under this Note; 
 (v) Commencement by the
Company of any bankruptcy, insolvency, receivership or similar proceedings under any federal or applicable state law; 
 (vi) Commencement against the Company of any bankruptcy, insolvency, receivership or similar proceeding under any federal or applicable state law by creditors of the Company, provided, that such
proceeding shall not be deemed an Event of Default if such proceeding is dismissed within ninety (90) days of commencement; or 
 (vii) A default occurs under any mortgage, indenture or instrument by which there may be secured or evidenced any indebtedness for money borrowed by the Company, whether such indebtedness exists on the
date of this Note or shall be created thereafter, which default (A) is caused by a failure to pay principal of or interest on such indebtedness prior to the expiration of any applicable grace period (a “Payment Default”), or
(B) results in the acceleration of such indebtedness prior to its express maturity, and, in each case, the principal amount of such indebtedness, together with the principal amount of any other indebtedness for money borrowed by the Company
under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $500,000 or more. 

  
 6 

 (b) Upon the occurrence of any Event of Default (other than an Event of
Default as specified in Section 10(a)(v) or Section 10(a)(vi)) and so long as such Event of Default is continuing, subject to the provisions of Section 7 above and any Subordination Agreement, the Required Holders
may, at their option and upon written notice of acceleration given to the Company, declare the entire unpaid portion of the principal amount and all unpaid accrued interest under the Notes due and payable. Subject to the provisions of
Section 7 above and any Subordination Agreement, if an Event of Default specified in Section 10(a)(v) or Section 10(a)(vi) occurs and is continuing, then the entire unpaid portion of the principal amount and all
unpaid accrued interest under the Notes shall automatically, and without any notice or any other action on the part of the Holder or any other holders of Notes, become due and payable immediately. 

(c) Prior to or after any notice of acceleration given to the Company, the Required Holders may, on behalf of all holders
of the Notes, waive any Event of Default that has occurred hereunder and its consequences. Whenever any Event of Default hereunder shall have been waived as permitted by this Section 10(c), such Event of Default shall for all purposes of
the Notes be deemed to have been cured and to be not continuing. 
 (d) The rights and remedies provided by this
Note shall be cumulative, and shall be in addition to, and not exclusive of, any other rights and remedies available at law or in equity. 
 11. Participation Rights. 
 (a) Subject to the terms and
conditions of this Section 11 and applicable securities laws, for so long as this Note is outstanding, if the Company proposes to offer or sell any New Securities, the Company shall first offer such New Securities to the Holder.

 (b) The Company shall give notice (the “Offer Notice”) to the Holder, stating (i) its
bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such New Securities. 

(c) By notification to the Company within three (3) days after the Offer Notice is given, the Holder may elect to
purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which equals the proportion that the Common Stock issued and held, or issuable upon conversion and/or exercise, as
applicable, of any Derivative Securities (including, without limitation, this Note) then held, by the Holder bears to the total Common Stock of the Company then outstanding (assuming full conversion and/or exercise, as applicable, of all Derivative
Securities (including, without limitation, the Notes)). 
 (d) The Company may, during the one hundred twenty
(120) day period following the expiration of the period provided in Section 11(c), offer and sell the remaining unsubscribed portion of such New Securities to any Person or Persons at a price not less than, and upon terms no more
favorable to the offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty (30) days of the
end of such period, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Holder in accordance with this Section 11. 

  
 7 

 (e) Notwithstanding any provision hereof to the contrary, in lieu of
complying with the foregoing provisions of this Section 11, the Company may elect to give notice to the Holder within thirty (30) days after the issuance of New Securities. Such notice shall describe the type, price, and terms of
the New Securities. The Holder shall have ten (10) days from the date notice is given to elect to purchase up to the number of New Securities that would, if purchased by the Holder, maintain the Holder’s percentage-ownership position,
calculated as set forth in Section 11(c) before giving effect to the issuance of such New Securities. 
 (f) The rights of the Holder, and the obligations of the Company, under this Section 11 shall terminate upon payment or conversion of this Note. 

12. Notices. All notices and other communications required or permitted hereunder to be given to a party to this Note shall be in
writing and shall be faxed, mailed by registered or certified mail postage prepaid, delivered by a national overnight delivery service, or otherwise delivered by hand, electronically (including by email) or by messenger, addressed to such
party’s address as set forth below: 
  

							
		  	if to the Company:        	  	 MRI Interventions, Inc.

Attention: Vice President, Business Affairs
 One
Commerce Square, Ste 2550
 Memphis TN 38103
 Facsimile: (901) 522-9400
	  	
				
		  	if to the Holder:        	  	 	  	
		  		  	 	  	
		  		  	 	  	
		  		  	Facsimile:__________________________	  	
		  		  	Email:_____________________________	  	

 or such other address with respect to a party as such party shall notify the other party in writing as above provided.
Any notice sent in accordance with this Section 12 shall be effective upon the earlier of: (a) if mailed, seven Business Days after mailing; (b) if sent by messenger, upon delivery; (c) if sent by a nationally recognized
overnight delivery service, one Business Day after having been dispatched; (d) if sent via fax, upon transmission and electronic confirmation of transmission or (if transmitted and received on a non-Business Day) on the first Business Day
following transmission and electronic confirmation of transmission (provided, however, that any notice of change of address shall only be valid upon receipt); (e) if sent by electronic mail, upon transmission and notice by telephone of such
transmission or (if transmitted and received on a non-Business Day) on the first Business Day following transmission and notice by telephone; and (f) upon the actual receipt thereof. 

13. Assignability. Neither party may assign this Note without the prior consent of the other party. No such assignment shall
constitute a novation or release of the Company of the obligations hereof or from any liability to the Holder. 
 14. Usury
Laws. It is the intention of the Company and the Holder to conform strictly to all applicable usury laws now or hereafter in force, and any interest payable under this Note shall be subject to reduction to an amount that is the maximum legal
amount allowed under the applicable usury laws as now or hereafter construed by the courts having jurisdiction over such matters. The aggregate of all interest contracted for under this Note shall under no circumstances exceed the maximum legal rate
upon the principal amount remaining unpaid from time to time. If such interest does exceed the maximum legal rate, it shall be deemed a mistake and such excess shall be canceled automatically and, if theretofore paid, rebated to the Company or
credited on the principal amount, or if this Note has been repaid, then such excess shall be rebated to the Company. 

  
 8 

 15. Miscellaneous. 

(a) Any term of this Note may be amended or waived with the written consent of the Company and the Holder. In addition,
any term of this Note may be amended or waived (including, without limitation, any Event of Default that has occurred hereunder) with the written consent of the Company and the Required Holders, provided that any such amendment or waiver affects and
applies to all of the Notes. It shall not be necessary for the consent of the Holder or any other holder of a Note to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance
thereof 
 (b) Wherever in this Note reference is made to the Company or the Holder, such reference shall be
deemed to include, as applicable, a reference to their respective successors and permitted assigns, and the provisions of this Note shall be binding upon and shall inure to the benefit of such successors and permitted assigns. 

(c) This Note shall in all respects be governed by and construed in accordance with the laws of the State of Delaware
without regard to conflicts of law principles of any jurisdiction to the contrary. 
 (d) The captions of the
Sections of this Note are inserted solely for ease of reference and shall not be considered in the interpretation or construction of this Note. 
 (e) The Holder, by acceptance of this Note, hereby represents and warrants that this Note has been acquired by the Holder for investment only and not for resale or distribution hereof. The Holder, by
acceptance of this Note, further understands, covenants and agrees that the Company is under no obligation and has made no commitment to provide for registration of this Note or shares of Common Stock issuable upon conversion of this Note under the
Securities Act or applicable state securities laws. 
 (f) The Holder, by acceptance of this Note, agrees to the
terms of the Security Agreement. Without limiting the generality of the foregoing, the Holder consents to the appointment of the Collateral Agent under the Security Agreement and authorizes the Collateral Agent to execute and deliver the Security
Agreement and to perform its obligations and exercise its rights thereunder in accordance therewith. 
 (g) The
Company waives presentment, notice and demand, notice of protest, notice of demand and dishonor, and notice of nonpayment of this Note. 
 (h) In the event that any provision of this Note is illegal, invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may
conflict therewith and shall be deemed modified to conform to such statute or rule of law. Any such provision which may prove illegal, invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of
this Note. Nothing contained herein shall be deemed or operate to preclude the Holder from bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations to the Holder or to
enforce a judgment or other court ruling in favor of the Holder. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT
OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY. 

  
 9 

 (i) No delay in the exercise of any right or remedy of any party hereto
shall operate as a waiver thereof, and no single or partial exercise of any such right or remedy shall preclude other or future exercise thereof or the exercise of any other right or remedy. 

(j) It is expressly understood and agreed by the parties hereto that if it is necessary to enforce payment of this Note
through the engagement or efforts of an attorney or by suit, the Company shall pay reasonable attorneys’ fees, expenses of counsel, and other costs of collection actually incurred by the Holder. 

(k) This Note may be executed in counterparts, each of which shall be deemed an original, but both of which shall
constitute one and the same Note. 
 [The next page is the signature page] 

  
 10 

 IN WITNESS WHEREOF, the Company has executed, acknowledged and delivered this Note as
of the day and year first above written. 
  

			
	MRI INTERVENTIONS, INC.
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

	
	AGREED TO AND ACCEPTED BY:
	
	  
	Signature
	
	 
	Print Name

  
 11

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