Document:

Exhibit 10.2

Exhibit 10.2

CONVERTIBLE PROMISSORY NOTE

			
	 	 	 
	$                    
	 	Saginaw, Michigan

For value received, NxOpinion, LLC, a Nevada limited liability company (“Maker”) promises to
pay to the order of                     , (“Payee”), or [his] [her] [its] successors or permitted
assigns, at such place as Payee may designate in writing, the principal amount of
                     DOLLARS ($____), or, if less, so much thereof as may be advanced by
Payee to Maker, in lawful money of the United States of America, to bear interest and be payable as
follows:

Interest shall accrue at the rate of eleven percent (11%) per annum on the unpaid principal
balance of this Note commencing as of                      (“Issue Date”). This Note shall mature on
June 30, 2010 (“Maturity Date”). On or before the Maturity Date, Payee may elect to convert all,
but not less than all, of the total principal amount and accrued interest of this Note into fully
paid and nonassessable units of membership interests in Maker (the “Unit(s)”). The number of
Unit(s) into which this Note will be converted shall be determined by dividing the total principal
balance and accrued interest of this Note by $1 (the “Conversion Rate”). This Note may be prepaid,
in its outstanding entirety only, by the Maker upon 45 days prior written notice to Payee. This
Note may be prepaid, in its outstanding entirety only, by the Maker upon 45 days prior written
notice to Payee. Payee may continue to exercise its conversion rights under this Note during such
notice period.

If at any time there shall be any consolidation or merger of the Maker with another
corporation or limited liability company, a sale of all or substantially all of the Maker’s assets
to another business entity, a voluntary or involuntary dissolution, liquidation or winding-up of
the Maker or a firm commitment underwritten public offering pursuant to an effective registration
statement under the 1933 Act, covering the offer and sale of securities to the general public for
the account of the Maker, then the Maker shall give to the registered Payee of this Note at the
address of such Payee as shown on the books of the Maker, at least ten (10) days prior written
notice of the date when the same shall take place. Payee may continue to exercise its conversion
rights under this Note during such notice period.

Unless otherwise converted, the unpaid principal and accrued interest on this Note from the
Issue Date through the Maturity Date shall be due and payable in a single lump sum on or before the
close of business on the Maturity Date, and any amount of principal or accrued interest not paid on
the Maturity Date shall bear interest from and after the Maturity Date until paid at the rate of
sixteen percent (16%) per annum (rather than 11% per annum) to the fullest extent permitted by
applicable law.

Upon conversion of the principal and accrued interest of this Note into Unit(s), Payee shall
surrender this Note at the office of Maker. Maker will then deliver to Payee appropriate evidence
or confirmation of ownership for the number of Unit(s) issuable upon such conversion. No partial
Units will be issued and Maker will pay Payee in cash for the amount of any remaining unpaid
principal and accrued interest that cannot be converted into a whole Unit.

 

 

 

If, at any time while any principal or interest on this Note is outstanding, (1) the Maker
effects any merger or consolidation of the Maker with or into another corporation, partnership,
trust, incorporated or unincorporated association, joint venture, limited liability company, or any
other entity (a “Person”); (2) the Maker effects any sale of all or substantially all of its assets
in one or a series of related transactions, (3) any tender offer or exchange offer (whether by the
Maker or another Person) is
completed pursuant to which holders of Units are permitted to tender or exchange their interests
for other securities, cash or property, or (4) the Maker effects any reclassification of the Units
or any compulsory exchange pursuant to which the Units are effectively converted into or exchanged
for other securities, cash or property (in any such case, a “Fundamental Transaction”), then the
Payee shall have the right thereafter to receive, upon exercise of its conversion rights under this
note, the same amount and kind of securities, cash or property as it would have been entitled to
receive upon the occurrence of such Fundamental Transaction if it had been, immediately prior to
such Fundamental Transaction, the holder of the number of Units then issuable upon conversion of
this Note (the “Alternate Consideration”). For purposes of any such exercise, the determination of
the Conversion Rate shall be appropriately adjusted to apply to such Alternate Consideration based
on the amount of Alternate Consideration issuable in respect of one Unit in such Fundamental
Transaction, and the Maker shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate
Consideration. If holders of Units are given any choice as to the securities, cash or property to
be received in a Fundamental Transaction, then the Payee shall be given the same choice as to the
Alternate Consideration it receives upon any conversion of this Note following such Fundamental
Transaction. Alternatively, if the Maker’s holders own a majority of any successor or at the
Payee’s option and request, then any successor to the Maker or surviving entity in such Fundamental
Transaction shall issue to the Payee a convertible note substantially in the form of this Note and
consistent with the foregoing provisions and evidencing the Payee’s right to convert such note into
the Alternate Consideration at the adjusted Conversion Rate upon conversion thereof. The terms of
any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring
any such successor or surviving entity to comply with the provisions of this paragraph (c) and
insuring that the Note (or any such replacement security) will be similarly adjusted upon any
subsequent transaction analogous to a Fundamental Transaction.

Maker hereby waives notice of non-payment, presentment, dishonor, protest, acceleration or any
other notice, except as otherwise provided herein.

This Note may not be assigned by Payee without the prior written consent of Maker. Maker may
not assign this note without the prior written consent of Payee.

This note is secured by that certain Security Agreement dated of even date herewith and
attached as Exhibit A. This note is guaranteed by those certain Guaranties of even date
herewith and attached as Exhibit B and Exhibit C.

Whenever possible, each provision of this Note shall be interpreted in such manner as to be
effective and valid under applicable law. If any provision of this Note is determined by a court
of competent jurisdiction to be illegal, invalid or unenforceable, such illegality, invalidity or
unenforceability shall not affect the other provisions hereof, which shall remain binding and
enforceable. This Note is not intended to impose upon Maker any obligation to pay interest in
excess of the maximum rate of interest permitted by applicable law, and any interest which so
exceeds that maximum rate of interest will automatically be applied in reduction of principal due
on this Note to the extent of that excess.

Upon receipt by Maker of an affidavit of Payee stating the circumstances of the loss, theft,
destruction or mutilation of this Note, or any Note exchanged for it, and an indemnity reasonably
satisfactory to Maker (in case of loss, theft or destruction) or surrender and cancellation of such
Note (in the case mutilation), Maker will (at is expense) make and deliver in lieu of such Note a
new Note of like tenor.

 

2

 

This Note is binding upon the heirs, successors and assigns of Maker and inures to the benefit
of the successors and permitted assigns of Payee. This Note and the enforceability, legality,
validity and performance of the terms hereof shall be governed by, determined and construed in
accordance with the laws of the State of Michigan.

Maker shall pay all reasonable attorneys’ fees and other costs incurred by Payee in seeking to
collect upon this Note or to enforce any of Payee’s rights and remedies under this Note, whether or
not suit is filed, or whether in connection with bankruptcy, insolvency or appeal.

	 	 	 	 	 
	Dated:

	 	 
 

	 	 

	 	 	 	 	 
	 

	 	NxOPINION, LLC,

a Nevada limited liability company
	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	By: Joel Robertson, Manager	 	 

 

3Exhibit 10.3

Exhibit 10.3

AMENDED AND RESTATED

PROMISSORY NOTE

			
	 	 	 
	$____________________

	 	Saginaw, Michigan
	May 28, 2010	 	 

WHEREAS, NXOPINION, LLC, a Nevada limited liability company (“Old Borrower”) executed and
delivered a certain Promissory Note dated __________________, 20_____ (the “Delivery Date”), as amended
by a certain First Amendment to Promissory Note dated October 20, 2009 (as amended, the “Note”) in
the principal amount of $____________________ payable to ___________________ (“Lender”).

WHEREAS, pursuant to the terms of a certain Agreement and Plan of Recapitalization, on even
date herewith Robertson Health Services, Inc., a Nevada corporation (“Borrower”) has assumed the
obligations of Old Borrower under the Note.

WHEREAS, Borrower and Lender, have agreed to amend and restate the Note to reflect, among
other things, a date for repayment of the obligations hereunder.

WHEREAS, this Amended and Restated Promissory Note reevidences the indebtedness heretofore
evidenced by the existing Note, is given in substitution for, and not as payment of, the existing
Note and is in no way intended to (and shall not) constitute a novation or discharge of the
existing Note or any other instrument.

NOW, THEREFORE, the Note is hereby amended and restated in its entirety as follows:

FOR VALUE RECEIVED, the undersigned Borrower promises to pay to the order of Lender at such
place as the holder hereof may designate, in lawful money of the United States of America and in
immediately available funds, the principal sum of _______________ thousand and 00/100 dollars ($__________), with interest thereon.

TERMS:

(a) Term. The entire balance of unpaid principal plus accrued interest shall be due and
payable in immediately available funds on June 30, 2011.

(b) Interest. [The outstanding principal balance of the Note shall bear interest (computed on
the basis of a 365-day year, actual days elapsed) from the Delivery Date at a per annum rate of the
higher of 10% or one percent (1.0%) above the Wall Street Journal Prime Rate in effect from time to
time. The “Wall Street Journal Prime Rate” is the interest rate reported daily in the Wall Street
Journal, and the Prime Rate, as such rate varies from time to time. If the Wall Street Journal
Prime Rate is decreased or increased, then the interest rate under this Note will decrease or
increase by a like amount effective the day of each increase or decrease, but at no time shall this
interest rate be less than 10%. If at any time the Wall Street Journal ceases publishing the Wall
Street Journal Prime Rate, then the new index will be the prime commercial rate established or
selected by Lender or its successor or assign.] [The outstanding principal balance of the Note
shall bear interest (computed on the basis of a 365-day year, actual days elapsed) from the
Delivery Date at a per annum rate of [18%][10%].]

 

 

 

(c) Interest Upon Event of Default. [Upon the occurrence of an Event of Default as described
herein, the interest rate on outstanding indebtedness will be the higher of 15% or three percent
(3.0%) above the Wall Street Journal Prime Rate in effect from time to time.] [Upon the occurrence
of an Event of Default as described herein, the interest rate on outstanding indebtedness will be
[10%][18%].]

(d) Payment of Interest. Interest accrued on this Note shall be payable upon loan repayment.

(e) Application of Payments. Each payment made on this Note shall be credited first, to any
interest due and second, to the outstanding principal balance hereof.

EVENTS OF DEFAULT:

The occurrence of any of the following shall constitute an “Event of Default” under this Note:

(a) The failure to pay any principal, interest, fees or other charges when due hereunder.

(b) The filing of a petition by or against the Borrower under any provisions of the Bankruptcy
Reform Act, Title 11 of the United States Code, as amended or recodified from time to time, or
under any similar or other law relating to bankruptcy, insolvency, reorganization or other relief
for debtors; the appointment of a receiver, trustee, custodian or liquidator of or for any part of
the assets or property of the Borrower; the Borrower becomes insolvent, makes a general assignment
for the benefit of creditors or is generally not paying its debts as they become due; or any
attachment or levy on any property of the Borrower.

(c) The dissolution or liquidation of the Borrower.

(d) Any default in the payment or performance of any obligation, or any defined event of
default, under any provisions of any contract, instrument or document pursuant to which the
Borrower has incurred any obligation for borrowed money, any purchase obligation, or any other
liability of any kind to any person or entity, including the holder.

(e) Any financial statement provided by the Borrower to Lender proves to be incorrect, false
or misleading in any material respect.

(f) Any sale or transfer of all or a substantial or material part of the assets of the
Borrower other than in the ordinary course of its business.

 

 

 

MISCELLANEOUS:

(a) Remedies. Upon the occurrence of any Event of Default, the holder of this Note, at the
holder’s option, may declare all sums of principal and interest outstanding hereunder to be
immediately due and payable without presentment, demand, notice of nonperformance, notice of
protest, protest or notice of dishonor, all of which are expressly waived by the Borrower, and the
obligations, if any, of the holder to extend any further credit hereunder shall immediately cease
and terminate. The Borrower shall pay to the holder immediately upon demand the full amount of all
payments, advances, charges, costs and expenses, including reasonable attorney’s fees (to include
outside counsel fees and all allocated costs of the holder’s in-house counsel), expended or
incurred by the holder in connection with the enforcement of the holder’s rights and/or the
collection of any amounts which become due to the holder under this Note, and the prosecution or
defense of any action in any way related to this Note, including without limitation, any action for
declaratory relief, whether incurred at the trial or appellate level, in an arbitration proceeding
or otherwise, and including any of the foregoing incurred in connection with any bankruptcy
proceeding (including without limitation, any adversary proceeding, contested matter or motion
brought by Lender or any other person) relating to the Borrower or any other person or entity.

(b) Prepayment. The Borrower reserves the privilege of prepaying without premium the
outstanding principal balance hereof, in whole or in part, at any time.

(c) Governing Law. This Note shall be governed by and construed in accordance with the laws of
the State of Michigan.

(d) Usury. In no event shall the rate of interest on this Note exceed the maximum rate
permitted by applicable law.

IN WITNESS WHEREOF, the undersigned has executed this Note as of the date first written above.

	 	 	 	 	 
	 	ROBERTSON HEALTH SERVICES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Its:

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