Document:

exv10w2

 

Exhibit 10.2

STRATEGIC DEFERRED PAYMENT AGREEMENT

     This Strategic Deferred Payment Agreement (the “Agreement”) is made and entered into as of
August 14, 2007, by and between Cato Research Ltd., a North Carolina corporation (“Cato Research”),
and Sontra Medical Corporation, a Minnesota corporation (“Sontra” and, together with Cato Research,
the “Parties”).

     WHEREAS, Cato Research is a global contract research and development organization (“CRO”)
providing a wide range of research, development and regulatory services to the biotechnology and
pharmaceutical industries (“CRO Services”); and

     WHEREAS, the Parties entered into a Strategic Master Services Agreement dated as of the date
of this Agreement (the “SMSA”) with respect to CRO Services to be provided by Cato Research to
Sontra from time to time after the date of this Agreement; and

     WHEREAS, the SMSA contains certain payment terms for the CRO Services performed by Cato
Research on behalf of Sontra thereunder; and

     WHEREAS, for strategic purposes, the Parties wish to modify the payment terms for certain CRO
Services under the SMSA to enable Sontra to defer payment to Cato Research for those CRO Services
relating to special product development and regulatory projects generally described below (the
“Strategic Deferred Payment Projects”):

	 	1.	 	Durhalieve® for Keloid Scarring — IND preparation and submission activities;
	 
	 	2.	 	Durhalieve® for Atopic Dermatitis — FDA Guidance Meeting regarding
NDA approval;
	 
	 	3.	 	Oversight and project management of DPT Laboratories Durhalieve®
manufacturing and process development activities;
	 
	 	4.	 	Oversight and project management of Azone/API formulation feasibility
activities by Campbell University; and
	 
	 	5.	 	MAZ development and regulatory activities (collectively, the “Agreement CRO
Services”); and

     WHEREAS, Cato Research has agreed to accept deferred payment for the CRO Services related to
the Strategic Deferred Payment Projects on the terms and conditions set forth in this Agreement.

     NOW, THEREFORE, in consideration of the foregoing premises and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as
follows:

     1. Until such time as Sontra has completed an equity financing or financings with aggregate
net proceeds (excluding payments made to Cato BioVentures) to Sontra of at least five million
dollars ($5,000,000) (the “Qualified Financing”), Sontra shall have the option, on an invoice by
invoice basis, to defer payment of Cato Research invoices covering CRO Services for Strategic
Deferred Payment Projects (each such invoice hereinafter a “Strategic Service Invoice”) for up
to six (6) months from the due date of a Strategic Service Invoice.

 

 

     2. If Sontra elects to defer payment of a Strategic Service Invoice for more than one (1)
month from the due date of such invoice under this Agreement, then with respect to each such
deferred Strategic Service Invoice, Sontra shall:

     (i) pay to Cato Research in cash, in addition to the amount the Parties agree is owed
for CRO Services covered by the deferred Strategic Service Invoice, interest equal to a
ratable monthly portion of 4.79% annual interest (the midterm annual Applicable Federal Rate
in effect on the date of this Agreement plus one percent (1%)), taking into account the
number of months which Sontra deferred payment of the Strategic Service Invoice; and

     (ii) issue to Cato BioVentures, the venture capital affiliate of Cato Research, that
number of shares of restricted Sontra common stock determined by dividing ten percent (10%)
of the amount of the deferred Strategic Service Invoice by the closing sale price of
Sontra’s common stock as reported on the applicable stock exchange or public equity
quotation service as of the date of Sontra’s payment of such Strategic Service Invoice.

     3. The term of this Agreement shall be coincident with the initial term of the SMSA; provided,
however, that this Agreement shall terminate upon the closing of the Qualified Financing.

     4. This Agreement may be renewed for an additional three (3) months upon the mutual
written agreement of the Parties.

     5. Capitalized terms used in this Agreement and not defined shall have the meaning given to
such terms in the SMSA.

     In witness whereof, the parties have caused this Agreement to be executed by their duly
authorized representatives as of the date set forth above.

	 	 	 	 	 	 	 
	Cato Research Ltd.	 	Sontra Medical Corporation
	 
	 	 	 	 	 	 
	By:

	 	/s/ Allen Cato
	 	By:
	 	/s/ Harry G. Mitchell
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Name:

	 	Allan Cato
	 	Name:
	 	Harry G. Mitchell
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Title:

	 	President
	 	Title:
	 	Interim CEO
	 

	 	 
	 	 	 	 

2exv10w3

 

Exhibit 10.3

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE SECURITIES LAW AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS
REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR SONTRA MEDICAL
CORPORATION SHALL HAVE RECEIVED AN OPINION OF ITS COUNSEL THAT REGISTRATION OF SUCH SECURITIES
UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT
REQUIRED.

SONTRA MEDICAL CORPORATION

Senior Promissory Bridge Note

			
	U.S.                     
	 	Issuance Date: September ___, 2007
	No.: 07-
	 	Maturity Date: September 15, 2008

FOR VALUE RECEIVED, the undersigned, Sontra Medical Corporation, a Minnesota corporation (the
“Company”), hereby promises to pay to the order of
[          
Investor Name          ] or any future
permitted holder of this Senior Promissory Bridge Note (the “Payee”), at the principal
office of the Payee set forth herein, or at such other place as the holder may designate in writing
to the Company, the principal sum of                                          ($                    ) or such other amount as
may be outstanding hereunder, together with all accrued but unpaid interest, in such coin or
currency of the United States of America as at the time shall be legal tender for the payment of
public and private debts and in immediately available funds, as provided in this Senior Promissory
Bridge Note (the “Note”).

          1. Automatic Exchange of Principal and Interest into Qualified Financing.
The outstanding principal amount of this Note together with all accrued but unpaid interest
hereunder (the “Outstanding Balance”), shall automatically be exchanged into securities
issued in an equity or equity linked financing or a combination of equity financings following the
Issuance Date with gross proceeds totaling at least $2,500,000 (the “Qualified Financing”);
provided, however, the Qualified Financing shall be reduced by the principal amount
represented by this Note, and the Other Notes (as defined below in Section 3) up to a maximum of
$1,500,000 issued by the Company; provided, further, that for purposes of
determining the number of equity securities, including warrants issued in such Qualified Financing,
to be received by the Payee upon such exchange, the Payee shall be deemed to have tendered 120% of
the Outstanding Balance of the Note as payment of the purchase price in the Qualified Financing.
Upon such exchange pursuant to a Qualified Financing, the Payee shall be deemed to be a purchaser
in such Qualified Financing and shall be granted all rights afforded a purchaser in the Qualified
Financing.

          2. Voluntary Conversion of Principal and Interest. Subject to the terms of
this Section 2, and provided that the Qualified Financing has not been completed on or before
December 15, 2007 (the “Conversion Option Date”), the Payee shall have the right, prior to
the Maturity Date, at the Payee’s sole option, to convert the Outstanding Balance (the
“Conversion Option”) into such number of fully paid and non-assessable shares of the
Company’s common stock (the “Conversion Shares”) as is determined in accordance with the
following formula: the Outstanding Balance as of the date of the
exercise of the Conversion Option)/ the price per share of the most recent Equity or Equity
Linked Financing (as defined below). If the Payee desires to exercise the Conversion Option, the
Payee shall,

 

 

by personal delivery or nationally-recognized overnight carrier, surrender the
original of this Note and give written notice to the Company (the “Conversion Notice”),
which Conversion Notice shall (a) state the Payee’s election to exercise the Conversion Option, and
(b) provide for a representation and warranty of the Payee to the Company that, as of the date of
the Conversion Notice, the Payee has not assigned or otherwise transferred all or any portion of
the Payee’s rights under this Note to any third parties. The Company shall, as soon as practicable
thereafter, issue and deliver to the Payee the number of Conversion Shares to which the Payee shall
be entitled upon exercise of the Conversion Option. Notwithstanding anything to the contrary
contained in this Section 2, the Company shall have the right, at the Company’s option, to pay all
or a portion of the accrued and unpaid interest due and payable to Payee upon Payee’s exercise of
the Conversion Option in cash. For purposes of this Agreement, “Equity and Equity Linked
Financing” shall mean the issuance and sale by the Company of its equity securities, the
primary purpose of which is to raise capital for the Company, provided, however, that an Equity and
Equity Linked Financing shall not be deemed to include the following issuances: (1) shares of
common stock issuable or issued to employees, independent contractors, consultants, directors or
vendors of this Company directly or pursuant to a stock option plan, restricted stock plan or other
agreement approved by the Board of Directors of this Company; (2) shares of common stock issued for
the purpose of (I) a joint venture, technology licensing or research and development activity, (II)
distribution or manufacture of the Company’s products or services, or (III) any other transaction
involving a corporate partner that is primarily for a purpose other than raising capital through
the sale of equity securities; (3) shares of common stock issuable upon conversion of shares of
preferred stock; (4) securities issued for the acquisition of another corporation by the Company by
merger, purchase of substantially all of the assets of such corporation or other reorganization;
(5) securities issued as a dividend or distribution on preferred stock; (6) securities issued as a
dividend on common stock where the Company declares or pays a common stock dividend on the
preferred stock in the same manner as declared or paid on the common stock; (7) shares of common
stock issued or issuable (I) in a public offering before or in connection with which all
outstanding shares of preferred stock will be converted to common stock or (II) upon exercise of
warrants or rights granted to underwriters in connection with such public offering; (8) shares of
common stock issuable or shares of preferred stock issuable upon conversion or exercise of options,
warrants, notes or other securities or rights granted pursuant to a loan or commercial lease
transaction; or (9) by way of dividend or other distribution on shares of common stock excluded
from the definition of additional stock by the foregoing clauses (1), (2), (3), (4), (5), (6), (7),
(8) or this clause (9).

          3. Seniority and Ranking. This Note shall rank senior to the Company’s
currently issued and outstanding indebtedness and equity securities; provided, however, this Note
shall rank pari-passu with respect to certain other senior promissory bridge notes of the Company
of like tenor herewith (the “Other Notes”), in an aggregate principal amount not to exceed
$1,500,000, inclusive of this Note (this Note together with the Other Notes shall be referred to as
the “Notes”). The Company may not issue any new indebtedness while the Notes are
outstanding.

          4. Principal and Interest Payments.

               (a) In the event the Company does not complete the Qualified Financing, the Company shall
repay the entire Outstanding Balance then outstanding on September 15, 2008 (the “Maturity
Date”).

               (b) Interest on the outstanding principal balance of this Note shall accrue at a rate of ten
percent (10%) per annum. Interest on the outstanding principal balance of the Note shall be
computed on the basis of the actual number of days elapsed and a year of three hundred and
sixty-five (365) days and shall be payable on the Maturity Date by the Company in cash. Furthermore,
upon the occurrence of an Event of Default, then to the extent permitted by law, the Company will
pay interest to

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the Payee, payable on demand, on the outstanding principal balance of the Note from
the date of the Event of Default until payment in full at the rate of twelve percent (12%) per
annum.

               (c) At any time following the Conversion Option Date but prior to the Maturity Date, the
Company, at its sole option, may prepay the Notes in cash for an amount equal to 120% of the
outstanding principal balance of the Notes plus 100% of all accrued but unpaid interest on such
Notes. All payments made on account of the indebtedness evidenced by this Note shall be applied
first to accrued but unpaid interest, if any, and the remainder shall be applied to principal.

          5. Most Favored Nations Exchange Right. So long as this Note remains
outstanding, if the Company enters into any Equity or Equity Linked Financing that is not a
Qualified Financing, then the Payee in its sole discretion may exchange this Note for the
securities issued or to be issued in such Equity or Equity Linked Financing. In the event of such
exchange, the Payee shall be deemed to have tendered 120% of the Outstanding Balance of the Note as
payment of the purchase price in such financing.

          6. Registration Rights. Provided that the Qualified Financing has not been
completed on or before the Conversion Option Date, the holders of the Notes together as a class
(subject to majority approval of the then Outstanding Balance of the Notes) shall have a one-time
demand registration right covering the Conversion Shares (the “Demand Registration Right”).
If such majority of the holders desire to exercise the Demand Registration Right, a
representative of the holders as a class shall, by personal delivery or nationally-recognized
overnight carrier, give written notice to the Company (the “Demand Registration Notice”),
which Demand Registration Notice shall state the holders election to exercise the Demand
Registration Right. The Company shall, within thirty (30) days of receiving the Demand
Registration Notice, file a registration statement covering the Conversion Shares to which the
holders shall be entitled upon exercise of the Conversion Option.

          7. Non-Business Days. Whenever any payment to be made shall be due on a
Saturday, Sunday or a public holiday under the laws of the State of New York, such payment may be
due on the next succeeding business day and such next succeeding day shall be included in the
calculation of the amount of accrued interest payable on such date.

          8. Representations and Warranties of the Company. The Company represents
and warrants to the Payee as follows:

               (a) The Company has been duly incorporated and is validly existing and in good
standing under the laws of the state of Minnesota, with full corporate power and authority to own,
lease and operate its properties and to conduct its business as currently conducted.

               (b) This Note has been duly authorized, validly executed and delivered on behalf of
the Company and is a valid and binding obligation of the Company enforceable against the Company in
accordance with its terms, subject to limitations on enforcement by general principles of equity
and by bankruptcy or other laws affecting the enforcement of creditors’ rights generally, and the
Company has full power and authority to execute and deliver this Note and to perform its
obligations hereunder.

               (c) The execution, delivery and performance of this Note will not (i) conflict with
or result in a breach of or a default under any of the terms or provisions of, (A) the Company’s
certificate of incorporation or by-laws, or (B) any material provision of any indenture,
mortgage, deed of trust or other material agreement or instrument to which the Company is a party
or by which it or any of

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its material properties or assets is bound, (ii) result in a violation of
any material provision of any law, statute, rule, regulation, or any existing applicable decree,
judgment or order by any court, Federal or state regulatory body, administrative agency, or other
governmental body having jurisdiction over the Company, or any of its material properties or assets
or (iii) result in the creation or imposition of any material lien, charge or encumbrance upon any
material property or assets of the Company or any of its subsidiaries pursuant to the terms of any
agreement or instrument to which any of them is a party or by which any of them may be bound or to
which any of their property or any of them is subject.

               (d) No consent, approval or authorization of or designation, declaration or filing
with any governmental authority on the part of the Company is required in connection with the valid
execution and delivery of this Note.

          9. Events of Default. The occurrence of any of the following events shall
be an “Event of Default” under this Note:

               (a) the Company shall fail to make the payment of any amount of any principal
outstanding for a period of three (3) business days after the date such payment shall become due
and payable hereunder; or

               (b) the Company shall fail to make any payment of interest for a period of three (3)
business days after the date such interest shall become due and payable hereunder; or

               (c) any representation, warranty or certification made by the Company herein or in
any certificate or financial statement shall prove to have been materially false or incorrect or
breached in a material respect on the date as of which made; or

               (d) the holder of any indebtedness of the Company or any of its subsidiaries shall
accelerate any payment of any amount or amounts of principal or interest on any indebtedness (the
“Indebtedness”) (other than the Indebtedness hereunder) prior to its stated maturity or
payment date the aggregate principal amount of which Indebtedness of all such persons is in excess
of $100,000, whether such Indebtedness now exists or shall hereinafter be created, and such
accelerated payment entitles the holder thereof to immediate payment of such Indebtedness which is
due and owing and such indebtedness has not been discharged in full or such acceleration has not
been stayed, rescinded or annulled within ten (10) business days of such acceleration; or

               (e) A judgment or order for the payment of money shall be rendered against the
Company or any of its subsidiaries in excess of $100,000 in the aggregate (net of any applicable
insurance coverage) for all such judgments or orders against all such persons (treating any
deductibles, self insurance or retention as not so covered) that shall not be discharged, and all
such judgments and orders remain outstanding, and there shall be any period of sixty (60)
consecutive days following entry of the judgment or order in excess of $100,000 or the judgment or
order which causes the aggregate amount described above to exceed $100,000 during which a stay of
enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in
effect; or

               (f) the Company shall (i) apply for or consent to the appointment of, or the taking
of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial
part of its property or assets, (ii) make a general assignment for the benefit of its creditors,
(iii) commence a voluntary case under the Bankruptcy Code or under the comparable laws of any
jurisdiction (foreign or domestic), (iv) file a petition seeking to take advantage of any bankruptcy, insolvency,
moratorium, reorganization or other similar law affecting the enforcement of creditors’ rights
generally, (v) acquiesce

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in writing to any petition filed against it in an involuntary case under
the Bankruptcy Code or under the comparable laws of any jurisdiction (foreign or domestic), or (vi)
take any action under the laws of any jurisdiction (foreign or domestic) analogous to any of the
foregoing; or

               (g) a proceeding or case shall be commenced in respect of the Company or any of its
subsidiaries without its application or consent, in any court of competent jurisdiction, seeking
(i) the liquidation, reorganization, moratorium, dissolution, winding up, or composition or
readjustment of its debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or
the like of it or of all or any substantial part of its assets or (iii) similar relief in respect
of it under any law providing for the relief of debtors, and such proceeding or case described in
clause (i), (ii) or (iii) shall continue undismissed, or unstayed and in effect, for a period of
thirty (30) consecutive days or any order for relief shall be entered in an involuntary case under
the Bankruptcy Code or under the comparable laws of any jurisdiction (foreign or domestic) against
the Company or any of its subsidiaries or action under the laws of any jurisdiction (foreign or
domestic) analogous to any of the foregoing shall be taken with respect to the Company or any of
its subsidiaries and shall continue undismissed, or unstayed and in effect for a period of thirty
(30) consecutive days.

          10. Remedies Upon An Event of Default. If an Event of Default shall have
occurred and shall be continuing, the Payee of this Note may at any time at its option, (a) declare
the entire unpaid principal balance of this Note, together with all interest accrued hereon, due
and payable, and thereupon, the same shall be accelerated and so due and payable; provided,
however, that upon the occurrence of an Event of Default described in (i) Sections 9(f) and
(g), without presentment, demand, protest, or notice, all of which are hereby expressly
unconditionally and irrevocably waived by the Company, the outstanding principal balance and
accrued interest hereunder shall be automatically due and payable, and (ii) Sections 9(a) through
(e), the Payee may exercise or otherwise enforce any one or more of the Payee’s rights, powers,
privileges, remedies and interests under this Note or applicable law. No course of delay on the
part of the Payee shall operate as a waiver thereof or otherwise prejudice the right of the Payee.
No remedy conferred hereby shall be exclusive of any other remedy referred to herein or now or
hereafter available at law, in equity, by statute or otherwise. Notwithstanding the foregoing,
Payee agrees that its rights and remedies hereunder are limited to receipt of cash or shares of the
Company’s equity securities in the amounts described herein.

          11. Replacement. Upon receipt by the Company of (i) evidence of the loss,
theft, destruction or mutilation of any Note and (ii) (y) in the case of loss, theft or
destruction, of indemnity (without any bond or other security) reasonably satisfactory to the
Company, or (z) in the case of mutilation, the Note (surrendered for cancellation), the Company
shall execute and deliver a new Note of like tenor and date. However, the Company shall not be
obligated to reissue such lost, stolen, destroyed or mutilated Note if the Payee contemporaneously
requests the Company to convert such Note.

          12. Parties in Interest, Transferability. This Note shall be binding upon
the Company and its successors and assigns and the terms hereof shall inure to the benefit of the
Payee and its successors and permitted assigns. This Note may be transferred or sold, subject to
the provisions of Section 21 of this Note, or pledged, hypothecated or otherwise granted as
security by the Payee.

          13. Amendments. This Note may not be modified or amended in any manner
except in writing executed by the Company and the Payee.

          14. Notices. Any notice, demand, request, waiver or other communication
required or permitted to be given hereunder shall be in writing and shall be effective (a) upon
hand delivery by telecopy or facsimile at the address or number designated below (if delivered on a
business day during

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normal business hours where such notice is to be received), or the first
business day following such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received) or (b) on the second business day following the
date of mailing by express courier service, fully prepaid, addressed to such address, or upon
actual receipt of such mailing, whichever shall first occur. The Company will give written notice
to the Payee at least thirty (30) days prior to the date on which the Company closes its books or
takes a record (x) with respect to any dividend or distribution upon the common stock of the
Company, (y) with respect to any pro rata subscription offer to holders of common stock of the
Company or (z) for determining rights to vote with respect to a Major Transaction, dissolution,
liquidation or winding-up and in no event shall such notice be provided to such holder prior to
such information being made known to the public. The Company will also give written notice to the
Payee at least twenty (20) days prior to the date on which dissolution, liquidation or winding-up
will take place and in no event shall such notice be provided to the Payee prior to such
information being made known to the public.

	 	 	 	 	 
	Address of the Payee:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	Attention:	 	 
	 

	 	Tel. No.:	 	 
	 

	 	Fax No.:	 	 
	 
	 	 	 	 
	Address of the Company:

	 	Sontra Medical Corporation.	 	 
	 

	 	10 Forge Parkway	 	 
	 

	 	Franklin, MA 02038	 	 
	 

	 	Attention: Chief Executive Officer	 	 
	 

	 	Tel. No.: (508) 553-8850	 	 
	 

	 	Fax No.: (508) 553-8760	 	 

          15. Governing Law. This Note shall be governed by and construed in
accordance with the internal laws of the State of New York, without giving effect to the choice of
law provisions. This Note shall not be interpreted or construed with any presumption against the
party causing this Note to be drafted.

          16. Headings. Article and section headings in this Note are included herein
for purposes of convenience of reference only and shall not constitute a part of this Note for any
other purpose.

          17. Remedies, Characterizations, Other Obligations, Breaches and Injunctive
Relief. The remedies provided in this Note shall be cumulative and in addition to all other
remedies available under this Note, at law or in equity (including, without limitation, a decree of
specific performance and/or other injunctive relief), no remedy contained herein shall be deemed a
waiver of compliance with the provisions giving rise to such remedy and nothing herein shall limit
a Payee’s right to pursue actual damages for any failure by the Company to comply with the terms of
this Note. Amounts set forth or provided for herein with respect to payments and the like (and the
computation thereof) shall be the amounts to be received by the Payee and shall not, except as
expressly provided herein, be subject to any other obligation of the Company (or the performance thereof). The Company acknowledges that a
breach by it of its obligations hereunder will cause irreparable and material harm to the Payee and
that the remedy at law for any such breach may be inadequate. Therefore the Company agrees that,
in the event of any such breach or threatened breach, the Payee shall be entitled, in addition to
all other

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available rights and remedies, at law or in equity, to seek and obtain such equitable
relief, including but not limited to an injunction restraining any such breach or threatened
breach, without the necessity of showing economic loss and without any bond or other security being
required.

          18. Failure or Indulgence Not Waiver. No failure or delay on the part of
the Payee in the exercise of any power, right or privilege hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such power, right or privilege preclude
other or further exercise thereof or of any other right, power or privilege.

          19. Enforcement Expenses. The Company agrees to pay all costs and expenses
of enforcement of this Note, including, without limitation, reasonable attorneys’ fees and
expenses.

          20. Binding Effect. The obligations of the Company and the Payee set forth
herein shall be binding upon the successors and assigns of each such party, whether or not such
successors or assigns are permitted by the terms hereof.

          21. Compliance with Securities Laws. The Payee of this Note acknowledges
that this Note is being acquired solely for the Payee’s own account and not as a nominee for any
other party, and for investment, and that the Payee shall not offer, sell or otherwise dispose of
this Note other than in compliance with the laws of the United States of America and as guided by
the rules of the Securities and Exchange Commission. This Note and any Note issued in substitution
or replacement therefore shall be stamped or imprinted with a legend in substantially the following
form:

“THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAW AND
MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS
REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE
SECURITIES LAWS OR SONTRA MEDICAL CORPORATION SHALL HAVE RECEIVED AN
OPINION OF ITS COUNSEL THAT REGISTRATION OF SUCH SECURITIES UNDER
THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE
SECURITIES LAWS IS NOT REQUIRED.”

          22. Severability. The provisions of this Note are severable, and if any
provision shall be held invalid or unenforceable in whole or in part in any jurisdiction, then such
invalidity or unenforceability shall not in any manner affect such provision in any other
jurisdiction or any other provision of this Note in any jurisdiction.

          23. Consent to Jurisdiction. Each of the Company and the Payee (i) hereby
irrevocably submits to the jurisdiction of the United States District Court sitting in the
Southern District of New York and the courts of the State of New York located in New
York county for the purposes of any suit, action or proceeding arising out of or relating to
this Note and (ii) hereby waives, and agrees not to assert in any such suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of such court, that the suit,
action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper. Each of the Company and the Payee
consents to process being served in any such suit, action or proceeding by mailing a copy thereof
to such party at the address set forth in Section 14 hereof and agrees that such service shall
constitute good and sufficient

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service of process and notice thereof. Nothing in this Section 23
shall affect or limit any right to serve process in any other manner permitted by law.

          24. Company Waivers. Except as otherwise specifically provided herein, the
Company and all others that may become liable for all or any part of the obligations evidenced by
this Note, hereby waive presentment, demand, notice of nonpayment, protest and all other demands
and notices in connection with the delivery, acceptance, performance and enforcement of this Note,
and do hereby consent to any number of renewals of extensions of the time or payment hereof and
agree that any such renewals or extensions may be made without notice to any such persons and
without affecting their liability herein and do further consent to the release of any person liable
hereon, all without affecting the liability of the other persons, firms or Company liable for the
payment of this Note, AND DO HEREBY WAIVE TRIAL BY JURY.

               (a) No delay or omission on the part of the Payee in exercising its rights under
this Note, or course of conduct relating hereto, shall operate as a waiver of such rights or any
other right of the Payee, nor shall any waiver by the Payee of any such right or rights on any one
occasion be deemed a waiver of the same right or rights on any future occasion.

               (b) THE COMPANY ACKNOWLEDGES THAT THE TRANSACTION OF WHICH THIS NOTE IS A PART IS A
COMMERCIAL TRANSACTION, AND TO THE EXTENT ALLOWED BY APPLICABLE LAW, HEREBY WAIVES ITS RIGHT TO
NOTICE AND HEARING WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH THE PAYEE OR ITS SUCCESSORS OR
ASSIGNS MAY DESIRE TO USE.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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

	 	 	 	 	 
	 	SONTRA MEDICAL CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	Harry G. Mitchell 	 
	 	 	Title:  	Interim Chief Executive Officer, CFO and

Treasurer 	 
	 
	 	ACCEPTED AND AGREED:

PAYEE

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]