Document:

Exhibit
10.2

    Master
Collaboration Agreement

    

    This
Master Collaboration Agreement (“Agreement”) is made as of August 30, 2010 (the
“Effective Date”), by and between KL Energy Corporation, a Nevada corporation
with offices at 306 East St. Joseph Street, Suite 200, Rapid City, South Dakota
57701 (the “Company”), and add blue Consultoria Ltda., a company organized in
Brazil with offices at Rua Joaquim Nabuco, 47, office 81, Brooklin, City of São
Paulo, State of São Paulo, 04621-000 (“Add Blue”).

    

    WHEREAS,
the Company and Add Blue have previously entered into certain arrangements and
agreements, including but not limited to‘Call Option Agreement’ signed on
October 08th ,2008;
‘Cooperation, Services & Call Option Agreement’ signed on March 04th, 2009;
‘Petrobras, add blue and KL Energy Memorandum of Understanding’ signed on
January 18th , 2010
(collectively, the “Prior Agreements”);

    

    WHEREAS,
pursuant to the Prior Agreements, Add Blue have previously referred to, and
assisted, the Company in developing certain of its businesses in
Brazil;

    

    WHEREAS,
the parties hereto desire to enter into a new arrangement regarding their
business relationship, and this Agreement shall replace and supersede all of the
Prior Agreements; and

    

    WHEREAS,
it is an express condition, and an inducement, for the Company in entering into
this Agreement that Add Blue expressly waive any and all rights, throughout the
world, it may have in respect to any and all of the Company’s intellectual
property, whether obtained through the Prior Agreements or
otherwise.

    

    NOW,
THEREFORE, in consideration of the mutual premises contained herein, the parties
agree as follows:

    

     

    1.     
Waiver
of Intellectual Property Rights; Option Cancellation.

     

    1.1    Waiver and
Acknowledgement.  Add Blue hereby waives any and all rights,
options, licenses, and any other intellectual property rights it may have,
throughout the world, in respect of any and all of the Company’s intellectual
property, whether granted through the Prior Agreements or
otherwise.  Add Blue hereby agrees and acknowledges that effective
upon the full execution of this Agreement by the parties hereto, Add Blue shall
have no rights to any and all of the Company’s intellectual
property.

     

    1.2    Option
Cancellation.  The parties hereby agree and acknowledge that
the option that Add Blue previously granted to the Company to purchase or
subscribe for 20% of Add Blue is hereby cancelled and no longer in
effect.

     

    2.      
Payments,
Conditions and Stock Issuances.

     

    2.1    Payments.  Subject
to Section 2.2 below, the Company shall pay to Add Blue the following payments
in accordance to the payment schedule set forth below:

     

    
      	
              a)  

            	
              US$
      250,000 due on September 01, 2010;

            

    

     

    
      	
              b)  

            	
              US$
      200,000 due September 08, 2010;

            

    

     

    
      	
              c)  

            	
              US$
      200,000 due on October 15, 2010;

            

    

     

    
      	
              d)  

            	
              US$
      200,000 due on November 15, 2010;

            

    

     

    
      	
              e)  

            	
              US$
      200,000 due on December 15, 2010;

            

    

     

    
      	
              f)  

            	
              US$
      200,000 due on January 2, 2011;

            

    

     

    
      	
              g)  

            	
              US$
      500,000 due on June 15, 2011;

            

    

     

    
      	
              h)  

            	
              US$
      500,000 due on July 15, 2011; and

            

    

     

    
      	
              i)  

            	
              US$
      333,333.00 due on August 15, 2011.

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    2.2    Conditions to the
Payments.  Notwithstanding anything contained in Section 2.1
above, the Company’s obligation to make any of the payments set forth in
Sections 2.1 (a), (b), (c), (d), (e), (f), (g), (h) and (i) above shall be
subject to the Company receiving certain contractually agreed funds as specified
in Exhibit A
attached hereto and shall be subject to adjustment as set forth in Exhibit
A.

     

    2.3    Stock
Issuances.  The Company agrees to issue to Add Blue, or its
nominee (the “Investor”), 1,500,000 shares of the Company’s common stock by
September 30, 2010, subject to the satisfaction by the Investor of any and all
applicable securities laws and other regulations in respect of the stock
issuance, as determined in the reasonable discretion of the Company’s legal
counsel.  In addition, in the event that the required conditions for
the payment set forth in Section 2.1 (i) have been satisfied, then the Company
agrees to issue to the Investor an additional 500,000 shares of the Company’s
common stock.

     

    3.     
Agreement to Form Joint
Venture.  The Company agrees to form, at its own expense and
with the support and assistance of Add Blue, a Brazilian subsidiary (“Newco”) by
November 30, 2010.  Newco shall be owned 60% by the Company and 40% by
Add Blue (the “Add Blue Equity Interest”).  The Company agrees to
provide a license to Newco to use the Company’s intellectual property as
required by the business to be engaged by Newco.  The Company shall
have the option (the “Purchase Option”) to acquire the Add Blue Equity Interest,
which Purchase Option can be exercised by the Company, in its sole discretion,
by issuing to Add Blue 1,000,000 shares (the “Option Consideration”) of the
Company’s common stock; provided, however, the Purchase Option shall expire upon
14 days after the effective formation of Newco (the “Option
Period”).  In addition, during the Option Period and if the Purchase
Option has not been exercised by the Company, Add Blue may sell all or part of
the Add Blue Equity Interest to a qualified investor subject to compliance with
any and all applicable securities laws; provided, however (i) Add Blue provides
the Company with prior written notice and the Company elects not to exercise the
Purchase Option; and (ii) Add Blue obtains the Company’s prior written consent
to the sale of the Add Blue Equity Interest to the proposed purchaser, which
consent shall not be unreasonably withheld.  In the event that during
the Option Period the Purchase Option has not been exercised and not all of the
Add Blue Equity Interest have been sold to a qualified third party pursuant to
this Section 3, then upon the expiration of the Option Period the Purchase
Option shall be automatically exercised by the Company to acquire all of the
remaining Add Blue Equity Interest held by Add Blue, and the Option
Consideration. shall be adjusted pro rata based on the amount of Add Blue Equity
Interest that remain at the expiration of the Option Period.

     

    4.     
Management
Services.  The parties hereto agree to amend the arrangement
setting forth the executive management services provided by Peter Gross to the
Company, pursuant to an existing consulting agreement between the Company and
Add Blue, such that the compensation terms for Mr. Gross will be a monthly
payment of US$ 20,000 payable beginning on September 1, 2010 and that the
Company will reimburse all service-related and approved expenses.  The
other terms of the amendment agreement shall be commensurate with the terms and
conditions as currently set forth in the consulting agreement, and the parties
hereto agree to negotiate in good faith in the consummation of this amendment
agreement.

     

    5.     
Term and Termination

     

    5.1    Term.  This
Agreement will remain in force from the Effective Date for a period of 540 days,
unless earlier terminated in accordance with this Section 5.  Upon the
expiration of such term, this Agreement will automatically renew for an
additional period of 360 days, unless either party gives no less than 30 days
prior written notice of its intention to terminate this Agreement.

     

    5.2    Default.  If either
party materially defaults in the performance of any of its material obligations
hereunder and if any such default is not corrected within 30 days after notice
in writing, then the non-defaulting party, at its option, may, in addition to
any other remedies it may have, thereupon terminate this Agreement by giving
written notice of termination to the defaulting party; provided however, no
party will be deemed to be in breach of this Agreement, and there shall be no
termination for default, during such time that a party makes diligent efforts to
correct a default which is capable of correction.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    5.3    Insolvency.  This
Agreement may be terminated by either party, upon written notice: (i) upon the
institution by the other party of insolvency, receivership or bankruptcy
proceedings or any other proceedings for the settlement of its debts, (ii) upon
the institution of such proceedings against the other party, which are not
dismissed or otherwise resolved in its favor within 60 days thereafter, (iii)
upon the other party's making a general assignment for the benefit of creditors,
or (iv) upon the other party's dissolution or ceasing to conduct business in the
ordinary course.

     

    5.4    Survival. The parties’ rights
and obligations of Sections 1, 5.5, and 6 will survive any termination or
expiration of this Agreement.

     

    5.5    Limitation of Liability upon
Termination.  In the event of termination by either party in
accordance with any of the provisions of this Agreement, neither party will be
liable to the other, because of such termination, for compensation,
reimbursement or damages on account of the loss of prospective profits or
anticipated sales or on account of expenditures, investments, or commitments in
connection with the business or goodwill.

     

    6.     
Warranties,
Indemnities, and Limitations of Liability

     

    6.1    General
Warranties.  Each party hereby represents and warrants
that:

     

    (a) it has
the right to enter into this Agreement; it is a corporation duly organized,
validly existing, and in good standing under the laws of the state of its
incorporation; it has the corporate power and authority for, and has by all
necessary corporate action authorized, the execution and delivery of this
Agreement, and the performance of its obligations hereunder; and

     

    (b) the
execution, performance and delivery of this Agreement by such party will not
conflict with or violate or result in any breach of, or constitute a default
under, any contract, agreement or other obligation of such party.

     

    7.     
Miscellaneous

     

    7.1    Nonassignment/Binding
Agreement.  Neither this Agreement nor any rights under this
Agreement may be assigned or otherwise transferred by either party, in whole or
in part, whether voluntarily or by operation of law, including by way of sale of
assets, merger or consolidation, without the prior written consent of the other
party.  Subject to the foregoing, this Agreement will be binding upon
and will inure to the benefit of the parties and their respective successors and
assigns.

     

    7.2    Independent Contractors. The
relationship of the parties under this Agreement is that of independent
contractors.  Neither party will be deemed to be an employee, agent,
partner or legal representative of the other for any purpose and neither will
have any right, power or authority to create any obligation or responsibility on
behalf of the other.

     

    7.3    Notices.  Any notice
required or permitted under the terms of this Agreement or required by law must
be in writ­ing and must be (a) delivered in person, (b) sent by
first class registered mail, or air mail, as appropriate, or (c) sent by
overnight air courier, in each case properly posted and fully prepaid to the
appropriate address set forth in the preamble to this
Agreement.  Either party may change its address for notice by notice
to the other party given in accordance with this Section.  Notices
will be consi­dered to have been given at the time of actual delivery in
person, three (3) business days after deposit in the mail as set forth above, or
one (1) day after delivery to an overnight air courier service.

     

    7.4    Force
Majeure.  Neither party will be liable to the other party on
account of any loss or damage resulting from any delay or failure to perform all
or any part of this Agreement if such delay or failure is caused, in whole or in
part, by events, occur­rences, or causes beyond the control and without
negligence of the parties.  Such events, occur­ren­­ces,
or causes will include, without limitation, acts of God, strikes, lockouts,
riots, acts of war, earthquake, fire and explosions, but the inability to meet
financial obligations is expressly excluded.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    7.5    Waiver.  Any waiver
of the provisions of this Agreement or of a party's rights or remedies under
this Agreement must be in writing to be effective.  Failure, neglect,
or delay by a party to enforce the provisions of this Agreement or its rights or
remedies at any time, will not be construed as a waiver of such party's rights
under this Agreement and will not in any way affect the validity of the whole or
any part of this Agreement or prejudice such party's right to take subsequent
action. No exercise or enforcement by either party of any right or remedy under
this Agreement will preclude the enforcement by such party of any other right or
remedy under this Agreement or that such party is entitled by law to
enforce.

     

    7.6    Severability.  If
any term, condition, or provision in this Agreement is found to be invalid,
unlawful or unenforceable to any extent, the parties shall endeavor in good
faith to agree to such amend­ments that will preserve, as far as possible,
the intentions expressed in this Agreement.  If the parties fail to
agree on such an amendment, such invalid term, condition or provision will be
severed from the remaining terms, conditions and provisions, which will continue
to be valid and enforceable to the fullest extent permitted by law.

     

    7.7    Integration.  This
Agreement (including the attachments and any addenda hereto signed by both
parties) con­tains the entire agreement of the parties with respect to the
subject matter of this Agreement and supersedes all previous communications,
rep­­re­­­sentations, understandings and agreements, either
oral or written, between the parties with respect to said subject
matter.  No terms, provisions or conditions of any purchase order,
acknowledgement or other busi­ness form that either party may use in
connection with the transactions contemplated by this Agreement will have any
effect on the rights, duties or obligations of the parties under, or otherwise
modify, this Agreement, regardless of any fail­ure of a receiving party to
object to such terms, provisions or conditions. This Agreement may not be
amended, except by a writing signed by both parties.

     

    7.8    Counterparts.  This
Agreement may be executed in counter­parts, each of which so executed will
be deemed to be an original and such counter­parts together will constitute
one and the same agree­ment.

     

    7.9    Governing Law.  This
Agreement will be interpreted and construed in accordance with the laws of the
State of California and the United States of America, without regard to conflict
of law principles.  All disputes arising out of this Agreement will be
subject to the exclusive jurisdiction of the state and federal courts located in
Orange County, California, and each party hereby consents to the personal
jurisdiction thereof.

    

    

    The
parties have signed below to indicate their acceptance of the terms of this
Agreement.

     

    
       

      
        
          	KL
      Energy Corporation	 	add
      blue Consultoria Ltda.	 
	 	 	 	 	 	 
	By:	
                   

                	 	By: 	
                   

                	 
	Name: 	
                   

                	 	Name: 	
                   

                	 
	Title: 	 	 	Title:	 	 

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

    

    

    Exhibit
A

    

    Referenced
minimum received contractually agreed funds from a customer during the initial
term of this Contract cumulatively totaling, which amounts shall be received by
the Company from the customer by the applicable payment schedule dates set forth
in Section 2.1:

     

    
      
        	
                2.1
      (a)

              	
                equal
      or greater than US$ 1,000,000.00

              
	
                2.1
      (b)

              	
                equal
      or greater than US$ 1,800,000.00

              
	
                2.1
      (c)

              	
                equal
      or greater than US$ 2,600,000.00

              
	
                2.1
      (d)

              	
                equal
      or greater than US$ 3,400,000.00

              
	
                2.1
      (e)

              	
                equal
      or greater than US$ 4,200,000.00

              
	
                2.1
      (f)

              	
                equal
      or greater than US$ 5,000,000.00

              
	
                2.1
      (g)

              	
                equal
      or greater than US$ 6,500,000.00

              
	
                2.1
      (h)

              	
                equal
      or greater than US$ 8,000,000.00

              
	
                2.1
      (i)

              	
                equal
      or greater than US$
10,000,000.00

              

      

    

    

    In the
event that the Company receives funds in partial payments less than the amounts
specified above, then the Company’s payment obligations set forth in Section 2.1
shall be adjusted so that it is only obligated to pay proportional payments
equal to twenty-five percent (25%) of each of the partial payment received for
Sections 2.1 (a), (b), (c), (d), (e), and (f), and proportional payments equal
to thirty-three percent (33%) of each of the partial payments received for
Sections 2.1 (g), (h), and (i).

    

    In the
event that the Company receives payments exceeding above values, the payments to
Add Blue shall be limited to the values defined in Section 2.1.Exhibit
10.1

    

     

    THE
WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT (COLLECTIVELY,
THE “SECURITIES”) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES OR BLUE SKY LAWS
(“BLUE SKY LAWS”).  NO TRANSFER, SALE, ASSIGNMENT, PLEDGE,
HYPOTHECATION OR OTHER DISPOSITION OF THIS WARRANT OR THE SECURITIES OR ANY
INTEREST THEREIN MAY BE MADE EXCEPT (A) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE BLUE SKY LAWS OR (B) IF
THE COMPANY HAS BEEN FURNISHED WITH BOTH AN OPINION OF COUNSEL FOR THE HOLDER,
WHICH OPINION AND COUNSEL SHALL BE SATISFACTORY TO THE COMPANY, TO THE EFFECT
THAT NO REGISTRATION IS REQUIRED BECAUSE OF THE AVAILABILITY OF AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT AND APPLICABLE BLUE SKY LAWS, AND
ASSURANCES THAT THE TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER
DISPOSITION WILL BE MADE ONLY IN COMPLIANCE WITH THE CONDITIONS OF ANY SUCH
REGISTRATION OR EXEMPTION.

     

    

    Warrant

    for

    Shares
of Common Stock

    of

    ProUroCare
Medical Inc.

     

    
      	
              Warrant
      No._____

            	
              Eden
      Prairie, Minnesota

            
	 
      	
              September
      30, 2010

            

    

     

    FOR VALUE
RECEIVED, ________________, or his
successors or assigns ("Holder"), is entitled
to subscribe for and purchase from ProUroCare Medical Inc., a Nevada corporation
(the "Company"), up to
70,000 fully paid and
non-assessable shares of the Company’s common stock, $0.00001 par value per
share (the "Common
Stock"), at the price of $0.75 per share, subject to
adjustments as noted in section 3 below (the "Warrant Exercise
Price").

     

    This
warrant may be exercised by Holder at any time or from time to time on or prior
to the fifth anniversary
of the date hereof.

     

    This
warrant is subject to the following provisions, terms and
conditions:

     

    1.           Exercise of
Warrant.  The rights represented by this warrant may be
exercised by the Holder, in whole or in part, by written notice of exercise
delivered to the Company at least three days prior to the intended date of
exercise and by the surrender of this warrant (properly endorsed if required) at
the principal office of the Company and, except in connection with a Cashless
Exercise (as defined below), upon payment to it by cash, certified check or bank
draft of the purchase price for such shares. The shares so purchased shall be
deemed to be issued as of the close of business on the date on which this
warrant has been exercised by its surrender and, except in connection with a
Cashless Exercise, payment to the Company of the Warrant Exercise
Price.  Certificates for the shares of stock so purchased, bearing the
restrictive legend set forth in Section 5 of this warrant, shall be delivered to
the Holder within 15 days after the rights represented by this warrant shall
have been so exercised, and, unless this warrant has expired, a new warrant
representing the number of shares, if any, with respect to which this warrant
has not been exercised shall also be delivered to the Holder within such
time.  No fractional shares shall be issued upon the exercise of this
warrant.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

      
        Exhibit
10.1

      

    

     

    At the
option of the Holder, payment of the Warrant Exercise Price may be made through
a net exercise without payment of the Warrant Exercise Price in cash by the
Holder providing notice to the Company of the Holder’s election to receive a
number of shares of Common Stock in a cashless exercise (a "Cashless Exercise").
Upon receipt of a notice of Cashless Exercise, the Company shall deliver to the
Holder (without cash payment by the Holder of any Warrant Exercise Price) that
number of shares of Common Stock that is equal to the quotient obtained by
dividing (x) the value of the portion of the warrant being exercised on the date
that the warrant shall have been surrendered (determined by subtracting the
aggregate Warrant Exercise Price for the number of shares of Common Stock as to
which the warrant is being exercised from the aggregate Fair Market Value (as
hereinafter defined) of such number of shares of Common Stock), by (y) the Fair
Market Value of one share of Common Stock.  A notice of Cashless
Exercise shall state the number of shares of Common Stock as to which the
warrant is being exercised.  "Fair Market Value"
for purposes of this Section shall mean the average of the Common Stock closing
prices reported by the principal exchange on which the Common Stock is traded,
or the last sale prices as reported by the National Association of Securities
Dealers, Inc. Automated Quotation System ("Nasdaq") National
Market, SmallCap Market, or Over-the-Counter Bulletin Board (OTCBB), as the case
may be, for the ten (10) business days immediately preceding the date that the
warrant shall have been surrendered or, in the event no public market shall
exist for the Common Stock at the time of such cashless exercise, Fair Market
Value shall mean the fair market value of the Common Stock as the same shall be
determined in the good faith discretion of the Company’s Board of Directors,
after full consideration of all factors then deemed relevant by such Board of
Directors in establishing such value, including by way of illustration and not
limitation, the per share purchase price of the most recent sale of shares of
Common Stock by the Company after the date hereof, as evidenced by the vote of a
majority of the directors then in office. Following a Cashless Exercise, the
warrant shall be canceled in all respects with regard to (a) the number of
shares of Common Stock issued in accordance with the cashless exercise plus (b) the
number of shares of Common Stock used as consideration for the Cashless
Exercise.

     

    2.           Certain Covenants of the
Company.  The Company covenants and agrees that all shares that
may be issued upon the exercise of the rights represented by this warrant shall,
upon issuance, be duly authorized and issued, fully paid and non-assessable
shares.  The Company further covenants and agrees that during the
period within which the rights represented by this warrant may be exercised, the
Company will at all times have authorized, and reserved for the purpose of issue
or transfer upon exercise of the subscription rights evidenced by this warrant,
a sufficient number of shares of Common Stock to provide for the exercise of the
rights represented by this warrant.

     

    3.           Adjustment of Exercise Price
and Number of Shares.  The number of shares the Holder may
purchase and the Warrant Exercise Price shall be subject to adjustment from time
to time as hereinafter provided in this section 3.

     

    (a)           Stock Dividend, Stock Split
or Stock Combination.  If the Company at any time divides the
outstanding shares of its Common Stock into a greater number of shares (whether
pursuant to a stock split, stock dividend or otherwise), and conversely, if the
outstanding shares of its Common Stock are combined into a smaller number of
shares, the Warrant Exercise Price in effect immediately prior to such division
or combination shall be proportionately adjusted to reflect the reduction or
increase in the value of each such Common Stock.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

      
        Exhibit
10.1

      

    

     

    (b)           Effect of Reorganization,
Reclassification or Merger.  If any capital reorganization or
reclassification of the capital stock of the Company, or consolidation or merger
of the Company with another corporation, or the sale of all or substantially all
of its assets to another corporation shall be effected in such a way that
holders of the Common Stock shall be entitled to receive stock, securities or
assets with respect to or in exchange for such Common Stock, then, as a
condition of such reorganization, reclassification, consolidation, merger or
sale, the Holder shall have the right to purchase and receive upon the basis and
upon the terms and conditions specified in this warrant and in lieu of the
shares of the Common Stock immediately theretofore purchasable and receivable
upon the exercise of the rights represented hereby, such shares of stock, other
securities or assets as would have been issued or delivered to the Holder if it
had exercised this warrant and had received such shares of Common Stock prior to
such reorganization, reclassification, consolidation, merger or
sale.

     

    (c)           Notice of
Adjustment.  Upon any adjustment of the Warrant Exercise Price,
the Company shall give written notice thereof, by first class mail, postage
prepaid, addressed to the registered Holder of this warrant at the address of
such Holder as shown on the books of the Company, which notice shall state the
Warrant Exercise Price resulting from such adjustment and the increase or
decrease, if any, in the number of shares purchasable at such price upon the
exercise of this warrant, setting forth in reasonable detail the method of
calculation and the facts upon which such calculation is based.

     

    4.           No rights as
Shareholder.  This warrant shall not entitle the Holder to any
voting rights or other rights as a shareholder of the Company.

     

    5.           Application of Restrictions
of Transfer.

     

    (a)           No
transfer of this warrant may be completed unless and until (i) the Company has
received an opinion of counsel for the Company that such securities may be sold
pursuant to an exemption from registration under the Securities Act of 1933, as
amended (the "Securities Act"), or
(ii) a registration statement relating to this warrant has been filed by the
Company and declared effective by the Commission.  Subject to the
foregoing, this warrant and all rights hereunder are transferable, in whole or
in part, at the principal office of the Company by the Holder in person or by
duly authorized attorney, upon surrender of this warrant properly endorsed to
any person or entity who represents in writing that he/she/it is acquiring the
warrant for investment and without any view to the sale or other distribution
thereof.  Each Holder of this warrant, by taking or holding the same,
consents and agrees that the bearer of this warrant, when endorsed, may be
treated by the Company and all other persons dealing with this warrant as the
absolute owner hereof for any purpose and as the person entitled to exercise the
rights represented by this warrant or perform the obligations required hereby,
or to the transfer hereof on the books of the Company, any notice to the
contrary notwithstanding; but until such transfer on such books, the Company may
treat the registered owner hereof as the owner for all purposes.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

      
        Exhibit
10.1

      

    

     

    (b)           Each
certificate for shares issued upon the exercise of the rights represented by
this warrant shall bear a legend as follows unless, in the opinion of counsel to
the Company, such legend is not required in order to ensure compliance with the
Securities Act:

     

    "THE
SECURITIES EVIDENCED BY THIS CERTIFICATE WERE ISSUED, AND THE SECURITIES
ISSUABLE IN CONNECTION WITH THE CONVERSION OF SUCH SECURITIES WILL BE ISSUED, IN
A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND APPLICABLE STATE SECURITIES LAWS, AND IN RELIANCE UPON THE HOLDER’S
REPRESENTATION THAT SUCH SECURITIES WERE BEING ACQUIRED FOR INVESTMENT AND NOT
FOR RESALE.  NO TRANSFER OF THE SECURITIES OR THE SECURITIES ISSUABLE
IN CONNECTION WITH THE CONVERSION OF SUCH SECURTITIES MAY BE MADE ON THE
BOOKS OF THE COMPANY UNLESS (i) SUCH TRANSFER IS MADE PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND
APPLICABLE STATE SECURITIES LAWS OR (ii) UNLESS THE HOLDER SHALL HAVE PROVIDED
THE COMPANY WITH AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE COMPANY TO
THE EFFECT THAT NO SUCH REGISTRATION IS REQUIRED."

     

    6.           Governing
Law.  This Warrant shall be governed by and construed in
accordance with the laws of the State of Minnesota without regard to its
conflicts-of-law provisions.

     

    7.           Amendments and
Waivers.  The provisions of this Warrant may not be amended,
modified or supplemented, and waiver or consents to departures from the
provisions hereof may not be given, unless the Company agrees in writing and has
obtained the written consent of the Holder.

     

    8.           Successors and
Assigns.  All the terms and conditions of this Warrant shall be
binding upon and inure to the benefit of the permitted successors and assigns of
the Company and the Holder.

     

    9.           Headings and
References.  The headings of this Warrant are for convenience
only and shall not affect the interpretation of this Warrant.  Unless
the context indicates otherwise, all references herein to Sections are
references to Sections of this Warrant.

     

    10.           Notices.  All
notices or communications hereunder, except as herein otherwise specifically
provided, shall be in writing.  Notices sent to the Holder shall be
mailed, hand delivered or faxed and confirmed to the Holder at his, her or its
address set forth in the Company’s records.  Notices sent to the
Company shall be mailed, hand delivered or faxed and confirmed to ProUroCare
Medical Inc., 6440 Flying Cloud Drive, Suite 101, Eden Prairie, MN 55344, or to
such other address as the Company or the Holder shall notify the other as
provided in this Section.

     

    [SIGNATURE
PAGE FOLLOWS]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

      Exhibit 10.1

    

     

    IN
WITNESS WHEREOF, the Company has caused this warrant to be signed and delivered
by its duly authorized officer.

    

     

    Dated:
September 30, 2010.

     

    
      
        	 	ProUroCare
      Medical Inc.:	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      Richard C. Carlson	 
	 	 	Name:
      Richard C. Carlson	 
	 	 	Title:  
      Chief Executive Officer	 

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

      Exhibit 10.1

    

     

    WARRANT EXERCISE
(CASH/CHECK)

     

    (To be
signed only upon exercise of warrant for cash/check)

     

    The
undersigned, the holder of the foregoing warrant, hereby irrevocably elects to
exercise the purchase right represented by such warrant for, and to purchase
thereunder, __________ of the shares of Common Stock of ProUroCare Medical Inc.
to which such warrant relates and herewith makes payment of $__________ therefor
in cash or by check and requests that the certificates for such shares be issued
in the name of, and be delivered to __________, whose address is set forth below
the signature of the undersigned.

     

    
      
        	
                Dated:

              	 	 	
                 

              	 
	
                 

              	 	 	
                (Signature)

              	 

      

    

     

    
      
        
          

        

      

    

     

    WARRANT EXERCISE
(CASHLESS)

     

    (To be
signed only upon a Cashless Exercise of warrant)

     

    The
undersigned, the holder of the foregoing warrant, hereby irrevocably elects to
exercise the purchase right represented by such warrant for __________ of the
shares of Common Stock of ProUroCare Medical Inc. to which such warrant relates
pursuant to a Cashless Exercise, and requests that certificates for
_______________ shares be issued in the name of, and be delivered to __________,
whose address is set forth below the signature of the undersigned.

     

    
      	
              Dated:

            	 	 	
               

            	 
	
               

            	 	 	
              (Signature)

            	 

    

     

    ____________

     

    INSTRUCTIONS
FOR REGISTRATION OF SECURITIES

    

    Name and
Address: __________________________________________________________

                                       
__________________________________________________________

                                       
__________________________________________________________

    (please typewrite or print in block
letters)

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

      Exhibit 10.1

    

    

    WARRANT
ASSIGNMENT

     

    (To be
signed only upon transfer of warrant)

     

    FOR VALUE
RECEIVED, ________________________________________hereby sells, assigns and
transfers unto:

     

    
      Name and
Address: __________________________________________________________

                                         
__________________________________________________________

                                         
__________________________________________________________

      (please typewrite or print in block
letters)

    

    

    the right
to purchase __________ shares of Common Stock as represented by this warrant to
the extent of ____________ shares of Common Stock and as to which such right is
exercisable and does hereby irrevocably constitute and appoint
_________________________ attorney, to transfer the same on the books of the
Company with full power of substitution in the premises.

     

    
      	
              Dated:

            	 	 	
               

            	 
	
               

            	 	 	
              (Signature)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}]]