Document:

Unsecured Promissory Note, Dated 11/18/2002

   
 EXHIBIT 10.1
 THE SECURITIES REPRESENTED HEREBY HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD
EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF
TIME. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS. 
 MICRO THERAPEUTICS, INC.
 (A Delaware Corporation)
 Note No. N1

	Amount: $3,000,000	 November 18, 2002
 

 UNSECURED PROMISSORY NOTE 
       For value received, Micro Therapeutics, Inc., a Delaware corporation (the “Borrower”), unconditionally promises to pay to
Micro Investment, LLC, a Delaware limited liability company, or its assigns (the “Lender”), the principal sum of THREE MILLION DOLLARS ($3,000,000) with simple interest on the outstanding principal amount. The outstanding principal
amount, together with all accrued and unpaid interest, shall be due and payable on the earlier of (i) demand of the Lender or (ii) May 18, 2003 (the “Maturity Date”).
 
     1.      Interest.   The outstanding principal amount on this Unsecured Promissory Note (this “Note”) shall
bear interest at the rate of ten percent (10%) per annum and shall commence with the date hereof and shall continue on the outstanding principal until this Note is paid in full, in accordance with the terms hereof. Notwithstanding the foregoing, any
amount outstanding under this Note shall bear interest from and after the Maturity Date at the rate of twelve percent (12%) per annum. Any interest on this Note accruing after the Maturity Date shall accrue and be compounded monthly until the
obligation of the Borrower with respect to the payment of such interest has been discharged (whether before or after judgment).
       2.     
Payments.   The Borrower may prepay all or any portion of this Note at any time without penalty. All payments shall be made to the Lender at its offices at c/o Warburg, Pincus Equity Partners, L.P., 466 Lexington Avenue, New York,
NY 10017, or at such other address as the Lender may specify in writing. All payments received from the Borrower hereunder shall be applied first, to the payment of any expenses due to the Lender pursuant to the terms of this Note, second, to the
payment of interest accrued and unpaid on this Note, and third, to reduce the 

  principal balance hereunder. Any payments of expenses, principal or interest shall be made in U.S. dollars.
 
     3.      No Voting Rights.   This Note shall not entitle the Lender to any voting rights or other rights as a stockholder of the Borrower. 
       4.      Transfers.   This Note may be transferred only in compliance with applicable federal and state securities laws and only upon surrender of the
original Note for registration of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in form satisfactory to the Borrower. Thereupon, a new promissory note for like principal amount and interest will be issued
to, and registered in the name of, the transferee. Interest and principal are payable only to the registered holder of this Note. The Lender agrees to provide a form W-9 to the Borrower on request. 
 
     5.      Amendment; Waiver.   Any amendment hereto or waiver of any provision hereof may be made only with the written consent of the Borrower and the Lender. This Note shall
inure to the benefit of and bind the successors, permitted assigns, heirs, executors, and administrators of the Borrower and the Lender. Failure of the Lender to assert any right herein shall not be deemed to be a waiver thereof. 

      6.      Event of Default.   This Note shall become immediately due and payable upon the occurrence of an Event of Default (as defined
below), whereupon (i) this Note and all such interest shall become and be immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Borrower; and (ii) the Lender,
at its option, may proceed to enforce all other rights and remedies available to the Lender under applicable law. For purposes hereof, the occurrence of any of the following shall constitute an “Event of Default” under this Note:

 the failure to make any payment of principal or any other amount payable hereunder when due under this Note or the breach of any other condition or obligation under this Note; or
 the filing of a petition by or against the Borrower under any provision of applicable bankruptcy or similar law; or appointment of a receiver, trustee, custodian or liquidator of or for all or any part of the assets or
property of the Borrower; or the insolvency of the Borrower; or the making of a general assignment for the benefit of creditors by the Borrower.
 
     7.      Usury Savings Clause.   Each of the Borrower and the Lender intends to comply at all times with applicable usury laws. If at any time such laws would render usurious any
amounts due under this Note under applicable law, then it is each of the Borrower’s and the Lender’s express intention that the Borrower not be required to pay interest on this Note at a rate in excess of the maximum lawful rate, that the
provisions of this Section 7 shall control over all other provisions of this Note which may be in apparent conflict hereunder, that such excess amount shall be immediately credited to the principal balance of this Note, and the provisions hereof
shall immediately be reformed and the amounts thereafter decreased, so as to comply with the then applicable usury law, but so as to permit the recovery of the fullest amount otherwise due under this Note.
       8.      Costs.   The Borrower agrees to pay all reasonable costs of collection of any amounts due hereunder arising as a result of any default hereunder,
including without limitation, attorneys’ fees and expenses.
  
  
  
  

                  9.     
Governing Law.   This Note is made in accordance with and shall be construed under the laws of the State of New York, other than the conflicts of law principles thereof.
 
              10.     Waiver.   The Borrower hereby expressly waives presentment, demand for payment, dishonor, notice of dishonor,
protest, notice of protest and any other formality. 

		                                      
                                        
              	  MICRO THERAPEUTICS, INC.
 
                                        
                                        
                                        
                                        
                     
 
		 	 	 
 
		 	/s/     Harold A. Hurwitz 
  
 
		 	   By: Harold A. Hurwitz
 Title: Chief Financial OfficerWBA Assignment

   EXHIBIT 10.53
 GENERAL ASSIGNMENT 
 THIS ASSIGNMENT, made this
                                         
day of July 19, 2002 BY Ward Benefits Administrators & Insurance Services, Inc. (F.K.A. Harden & Company Insurance Services, Inc.) of (address) 610 West Ash Street, Suite 1500, San Diego, CA 92101 in the City of San Diego, County of San
Diego, State of California, part          of the first part, hereinafter referred to as assignor, to SAN DIEGO CREDIT ASSOCIATION, a California corporation, of San Diego, California, party of the second
part, hereinafter referred to as assignee.
           WITNESSETH: That said assignor, for and in consideration of the covenants and agreements to be performed
by the party of the second part, as hereinafter contained, and of the sum of One Dollar ($1.00) to assignor in hand paid by said assignee, receipt whereof is hereby acknowledged, does by these presents grant, bargain, sell, assign, convey and
transfer unto said assignee, its successors and assigns, in trust, for the benefit of assignor’s creditors generally, all of the property of the assignor of every kind and nature and wheresoever situated, both real and personal, and any
interest or equity therein not exempt from execution, including, but not limited to, all that certain stock of merchandise, store furniture and fixtures, book accounts, books, bills receivable, cash on hand, cash in bank, deposits, patents,
copyrights, trademarks and trade names, insurance policies, choses in action that are legally assignable, together with the proceeds of any existing non-assignable choses in action that may hereafter be recovered or received by the
assignor.
           This assignment specifically includes and covers all claims for refund or abatement of all excess taxes heretofore or hereafter assessed
against or collected from the assignor by the U.S. Treasury Department, and the assignor agrees to sign and execute power of attorney or all other documents as required to enable said assignee to file and prosecute, compromise and/or settle, all
such claims before the Internal Revenue Service, U.S. Treasury Department.
           Leases and leasehold interests in real estate, contracts or agreements
between assignor and any Labor Union, or Trade Associations, are exempted from and not included in the assignment.
 ___________________________________________________________________________________________________________________________
 This assignment does not include any alcoholic beverages, but the assignor hereby appoints
assignee as his agent for the sole purpose of filing an application for a permit and the selling of the alcoholic beverages in the said place of business (said assignee being vested the absolute discretion in regard thereto and assuming no liability
by reason thereof), and assignor hereby assigns to assignee all of the proceeds of such sale for the benefit of his creditors generally in accordance with the terms of this assignment. This assignment includes all licenses for the sale of alcoholic
beverages.
 ___________________________________________________________________________________________________________________________
          The assignor
authorizes the forwarding of his or its mail by the U.S. Postal Department as directed by the Assignee. 
           Said assignee is to receive the said
property, conduct the said business, should it deem it proper, and is hereby authorized at any time after the signing hereof by the assignor to sell and dispose of the said property upon such time and terms as it may see fit, and is to pay to
creditors of the first party pro rata, according to the several indebtedness due to them from the said assignor, the net proceeds arising from the conducting of said business and sale and disposal of said property, after deducting all moneys which
said assignee may at its option pay for the discharge of any lien on any of said property and any indebtedness which under the law is entitled to priority of payment, and all expenses, including a reasonable fee to assignee and its attorney and to
attorney for assignor.
           If any dividends to creditors shall remain unclaimed for a period of two years after issuance of the final dividend checks,
then the same shall become the property of the assignee and used to supplement its fees for services rendered in administering this assignment. Any interest that may be earned on funds administered under this assignment shall belong to and are
hereby assigned to the assignee as additional fees for its services hereunder.
           Said assignee is also authorized and empowered to appoint such
agents, field representatives and/or attorneys and/or accountants as it may deem necessary, and such agents and/or field representatives shall have full power and authority to open bank accounts in the name of the assignee or its nominees or agents
and to deposit assigned assets or the proceeds thereof in such bank accounts and to draw checks thereon and with the further power and authority to do such other acts and to execute such papers and documents in connection with this assignment as
said assignee may consider necessary or advisable.
           IN WITNESS WHEREOF the said parties hereunto set their hands the day and year first above
written.

	 ASSIGNOR’S TAX I.D. NUMBERS:
 	 	 Ward Benefits Administrators & Insurance Services, Inc., a California corporation
 
	 Internal Revenue Service
 	 	 
 
	 
 	 	                     /s/     Jeffrey S.
Ward                           
 
	 #
                      94-2311657                
                   
 	 	         Jeffrey S. Ward     Chairman, President & CEO
 
	 #
                                        
                                  
 	 	                         Party of the First Part
 
	 State Board of Equalization
 	 	 
 
	 #                             
 N/A                                      
 
 	 	 SAN DIEGO CREDIT ASSOCIATION
 
	 Employment Development Department
 	 	 
 
	 #                    CA - 235-5073-4
                               
 #
                   FL - N/A
                                        
  
 #                    IL -
942311657                                   
 #
                   OR - 0-97
30375                                  
 
 	 	 By:             /s/     Gregory M.
Garner                         

                       Party of the Second Part

                                   President

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