Document:

AMENDMENT
      TO SECURED 8% CONVERTIBLE PROMISSORY NOTES

     

    

     

    THIS
      AMENDMENT (this "Amendment")
      to
      Secured 8% Convertible Promissory Notes (the "Notes")
      is
      made as of March 21, 2007, by and between Calypte Biomedical Corporation, a
      Delaware corporation (the "Company"),
      and
      SF Capital Partners Ltd. (the “Investor”).
      If
      there is any inconsistency between the terms of this Amendment and any other
      agreement referenced herein, the terms of this Amendment will
      govern.

     

    WHEREAS,
      the Company and the Investor are parties to (i) the Securities Purchase
      Agreement dated May 28, 2004 (the “Securities
      Purchase Agreement”)
      among
      the Company and the investors signatory thereto ( “Investors
      I”),
      pursuant to which the Company issued and sold to Investors I, and Investors
      I
      purchased from the Company, certain shares and warrants pursuant to the terms
      set forth in the Securities Purchase Agreement, (ii) the Amendment to Securities
      Purchase Agreement dated April 4, 2005 (the “Amendment
      to Securities Purchase Agreement”)
      among
      the Company and Investors I, pursuant to which Investors I received certain
      anti-dilution entitlements and new entitlements, including, without limitation,
      certain warrants (the “2004 Amendment
      Warrants”)
      pursuant to the terms set forth in the Amendment to Securities Purchase
      Agreement, (iii) the Purchase Agreement dated as of April 4, 2005 (the
"Purchase
      Agreement")
      among
      the Company and the investors signatory thereto ( “Investors
      II”),
      pursuant to which the Company issued and sold to Investors II, and Investors
      II
      purchased from the Company, certain secured 8% convertible promissory notes,
      which included the Notes, Series A warrants (the “2005
      Series A Warrants”)
      and
      Series B warrants (the “2005
      Series B Warrants”)
      pursuant to the terms set forth in the Purchase Agreement, and (iv) the letter
      agreement dated July 7, 2006 (the “Letter
      Agreement”)
      between the Company and the Investor, pursuant to which the 2004 Warrants and
      the 2004 Amendment Warrants were amended to lower their exercise price from
      $0.45 to $0.15 for a period of time commencing through and including July 21,
      2006, after which time the exercise price reverted back to $0.45 (the
“2005 Amendment
      Warrants”)
      and to
      issue to the Investor an additional warrant equal to 50% of the aggregate amount
      of the 2005 Amendment Warrants exercised before July 21, 2006 (the “2006 Additional
      Warrant”);

     

    WHEREAS,
      the parties now desire to change the maturity date (the “Maturity
      Date”)
      of the
      Notes issued by the Company to the Investor pursuant to the Purchase Agreement
      in the initial principal amount of $4,000,000 in accordance with the provisions
      set forth in Section 15(f) of the Notes and Section 6.4 of the Purchase
      Agreement; 

     

    WHEREAS,
      in consideration of the foregoing, the Company agrees to lower the exercise
      price of the Investor’s currently outstanding warrants, which consist of 2005
      Series A Warrants, 2005 Series B Warrants, and 2006 Additional Warrant
      (collectively, the “Warrants”),
      which
      equal an aggregate of 21,491,666 shares of the Company’s common stock (the
“Warrant
      Shares”),
      as
      follows: the Exercise Price of 40% of the Warrants Shares, equaling 8,596,666
      Warrant Shares from the 2005 Series A Warrant will be lowered to $0.03 per
      Warrant Share and the Exercise Price of 60% of the Warrant Shares, equaling
      12,775,000 Warrant Shares, from the Series A Warrant, Series B Warrant, 2005
      Amendment Warrant and 2006 Additional Warrant, will be lowered to $0.10 per
      Warrant Share, all as more particularly set forth on Schedule
      1
      attached
      hereto, and to change the expiration date of the 2006 Additional Warrant to
      coincide with the change of the Maturity Date of the Notes; and

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    WHEREAS,
      the parties agree to amend and modify the 2006 Additional Warrant to delete
      the
      provision of piggyback registration rights from the 2006 Additional Warrant.
      

     

    NOW,
      THEREFORE, for good and valuable consideration, the receipt and sufficiency
      of
      which are hereby acknowledged, the Company and the Investor agree as
      follows:

     

    1. All
      references in the Notes to the due date of “April 3, 2007” are hereby amended to
“April 3, 2009.” 

     

    2. The
      Expiration Date (as defined in the 2006 Additional Warrant) is hereby amended
      to
      April 3, 2009.

     

    3. The
      Warrants are hereby amended to lower the exercise prices as more specifically
      set forth in Schedule
      1
      and in
      the amended warrants, which are attached hereto as Exhibit
      A,
      Exhibit
      B-1,
      Exhibit
      B-2,
      Exhibit
      C,
      and
Exhibit
      D
      and to
      delete the provision of piggyback registration rights from the 2006 Additional
      Warrant.

     

    4. Except
      for the amendments provided for herein, the Notes and the Warrants shall remain
      unchanged and in full force and effect.

     

    5. This
      Amendment may be executed in counterparts, each of which shall be deemed to
      be
      an original, but which together shall be deemed to be one and the same
      instrument.

     

    6. This
      Amendment shall be governed by and construed in accordance with the laws of
      the
      State of New York without giving effect to the conflicts of law principles
      thereof.

     

    [Signature
      Pages Follow]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    [SIGNATURE
      PAGE FOR THE COMPANY] 

     

    IN
      WITNESS WHEREOF,
      each of
      the parties hereto has caused a counterpart of this Amendment to be duly
      executed and delivered as of the date first above written.

     

     

    
      	 	 	 
	 	
              CALYPTE
                BIOMEDICAL CORPORATION

            
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Richard
                D. Brounstein 

              Executive
                Vice President 

            
	 	Title 

    

    

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    [SIGNATURE
      PAGE FOR THE INVESTOR]

     

    IN
      WITNESS WHEREOF,
      the
      parties hereto has caused a counterpart of this Amendment to be duly executed
      and delivered as of the date first above written.

     

    
      	 	 	 
	 	
              SF
                Capital Partners Ltd.

            
	 	
              

              Name
                of Investor 

            
	 
 	 
 	 
 
	 	By:  	 
	 	
            	
              

              Signature

            
	 	
            	 
	 	Its:	 
	 	 	
              

              Title

            

     

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    

    

      
        	 	 	 	
                Calypte
                  Biomedical Corporation

              	 	 	 	 	 
	 	 	 	 	
                SF
                  CAPITAL WARRANTS

              	 	 	 	 	 	 
	 	 	 	 	
                SCHEDULE
                  1

              	 	 	 	 	 	 
	 	 	 	 	
                2007
                  Warrant Repricing

              	 	 	 	 	 	 

      

       

      
        	
                SF
                  Capital Partners

              	 	
                Warrant

              	 	
                Issue

              	 	
                Expiration

              	 	 	 	
                Current
                  Warrants

              	 	
                March
                  2007 Repricing

              
	
                Holder

              	 	
                No.

              	 	
                Date

              	 	
                Date

              	 	
                Source

              	 	
                Shares

              	 	 	
                Price

              	 	
                Shares

              	 	 	
                Price

              
	
                Exhibit
                  A

              	 	
                05-016

              	 	
                30-Jun-05

              	 	
                28-May-09

              	 	
                2004
                  PIPE Anti-Dilution new warrants

              	 	
                408,333

              	 	
                $

              	
                0.325

              	 	
                408,333

              	 	
                $

              	
                0.10

              
	
                Exhibit
                  B-1

              	 	
                05-001

              	 	
                04-Apr-05

              	 	
                03-Apr-10

              	 	
                 April
                  '05 Notes - Series A Warrants

              	 	
                13,333,333

              	 	
                $

              	
                0.325

              	 	
                8,596,666

              	 	
                $

              	
                0.03

              
	
                Exhibit
                  B-2

              	 	 	 	 	 	 	 	 	 	 	 	
                $

              	
                0.325

              	 	
                4,736,667

              	 	
                $

              	
                0.10

              
	
                Exhibit
                  C

              	 	
                05-006

              	 	
                04-Apr-05

              	 	
                03-Apr-10

              	 	
                 April
                  '05 Notes - Series B Warrants

              	 	
                6,000,000

              	 	
                $

              	
                0.325

              	 	
                6,000,000

              	 	
                $

              	
                0.10

              
	
                Exhibit
                  D

              	 	
                06-002

              	 	
                03-Aug-06

              	 	
                03-Apr-09

              	 	
                 2006
                  Additional Warrants

              	 	
                1,750,000

              	 	
                $

              	
                0.25

              	 	
                1,750,000

              	 	
                $

              	
                0.10

              
	 	 	 	 	 	 	 	 	 	 	
                21,491,666

              	 	 	 	 	
                21,491,666SIXTH
      AMENDMENT TO 2005 CREDIT FACILITY

     

    

     

    THIS
      SIXTH AMENDMENT TO 2005 CREDIT FACILITY AGREEMENT (this "Amendment")
      is
      made as of March 21, 2007, by and among Calypte Biomedical Corporation, a
      Delaware corporation ("Issuer"),
      and
      Marr Technologies, BV, a limited liability company established in the
      Netherlands ("Purchaser").
      Unless otherwise defined herein, all capitalized terms used herein shall have
      the meanings given to them in the Credit Facility referred to
      below.

     

    WHEREAS,
      Issuer and Purchaser are parties to the 2005 Credit Facility Agreement dated
      as
      of April 4, 2005, Amendment to 2005 Credit Facility dated as of November 30,
      2005, Second Amendment to 2005 Credit Facility dated as of February 22, 2006,
      Third Amendment to 2005 Credit Facility dated as of July 6, 2006, Fourth
      Amendment to 2005 Credit Facility dated as of December 22, 2006 and Fifth
      Amendment to 2005 Credit Facility dated as of February 6, 2007 (collectively,
      the "Credit
      Facility");
      and

     

    WHEREAS,
      the parties now desire to amend and modify the Credit Facility to provide for
      the extension of the maturity date for monies borrowed and certain other
      modifications and amendments agreed to by the parties.

     

    NOW,
      THEREFORE, for good and valuable consideration, the receipt and sufficiency
      of
      which are hereby acknowledged, Issuer and Purchaser agree as
      follows:

     

    1. Section
      III.b. of the Credit Facility is hereby amended and restated to read in its
      entirety as follows:

     

    "b. Expiration
      of Agreement.
      This
      Agreement shall terminate on April 3, 2009.”

     

    2. Governing
      Law.
      This
      Amendment shall be governed by and construed under the laws of the State of
      Delaware, without regard to the conflicts of laws principles of the State of
      Delaware. 

     

    3. Miscellaneous.
      Neither
      this Amendment nor any provision hereof may be changed, waived discharged or
      terminated orally, but only by an instrument in writing signed by the party
      against which enforcement of the change, waiver, discharge or termination is
      sought. This Amendment shall be binding upon Issuer and its successors and
      assigns, and all persons claiming under or through Issuer or any such successor
      or assign, and shall inure to the benefit of and be enforceable by Purchaser
      and
      its successors and assigns.

     

    4. Execution.
      This
      Amendment may be executed in two or more counterparts, all of which when taken
      together shall be considered one and the same agreement. In the event that
      any
      signature is delivered by facsimile transmission, such signature shall create
      a
      valid and binding obligation of the party executing with the same force and
      effect as if such facsimile signature page were an original
      thereof.

     

    5. Binding
      Effect.
      This
      Amendment shall not be binding upon the Company or the Issuer unless and until
      SF Capital Partners Ltd. (“SF”)
      has
      executed and delivered to the Company that certain Amendment to Secured 8%
      Convertible Promissory Notes in which SF agrees to change the maturity date
      to
      April 3, 2009 of all notes issued to it by the Company in connection with that
      certain Purchase Agreement dated April 4, 2005 (including, without limitation,
      any notes issued to it for the payment of interest).

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    6. Effect
      of Amendment.
      Except
      for the amendment provided for herein, the Credit Facility shall remain
      unchanged and in full force and effect.

     

    IN
      WITNESS WHEREOF,
      each of
      the parties hereto has caused a counterpart of this Sixth Amendment to Credit
      Facility to be duly executed and delivered as of the date first above
      written.

     

    

     

    

     

    CALYPTE
      BIOMEDICAL CORPORATION

     

    By:      

    

    Its:      

    

    Date:
      ___________________________

    

    

     

    MARR
      TECHNOLOGIES, BV

     

    
      By:      

      

      Its:      

      

      Date:
        ___________________________

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