Document:

Exhibit 4.3

Exhibit 4.3

RUB MUSIC ENTERPRISES, INC.

Warrant for the Purchase of [         ]

Shares of Common Stock

Par Value $0.001

AMENDED AND RESTATED

CLASS C WARRANT AGREEMENT

(this “Agreement”)

This Amended and Restated Class C Warrant Agreement amends and restates that certain Warrant
Agreement, dated July 17, 2009, issued by the Company (defined below) to the Holder (defined
below).

THE HOLDER OF THIS WARRANT, BY ACCEPTANCE HEREOF, BOTH WITH RESPECT TO THE WARRANT AND COMMON STOCK
ISSUABLE UPON EXERCISE OF THE WARRANT, AGREES AND ACKNOWLEDGES THAT THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES HAVE BEEN ACQUIRED
FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF
(A) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND THE LAWS OF ANY APPLICABLE
STATE, OR (B) AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER, AND ITS COUNSEL, TO THE
EFFECT THAT THE SALE OR TRANSFER IS EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH
STATE STATUTES, OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.

This is to certify that, for value received,                                         , (the “Holder”) is entitled to
purchase from RUB MUSIC ENTERPRISES, INC. (the “Company”), on the terms and conditions hereinafter
set forth, all or any part of [     ] shares (“Warrant Shares”) of the Company’s common stock,
par value $0.001 (the “Common Stock”), at the purchase price of $4.00 per share (“Warrant Price”).
Upon exercise of this warrant in whole or in part, a certificate for the Warrant Shares so
purchased shall be issued and delivered to the Holder. If, at any time prior to the Expiration
Date (as defined below), less than the total warrant is exercised, a new warrant of similar tenor
shall be issued for the unexercised portion of the warrants represented by this Agreement.

This warrant is granted subject to the following further terms and conditions:

1. This warrant shall vest and be exercisable upon the one year anniversary of the
consummation of a merger or acquisition of the Company, or the merger or acquisition of any
wholly-owned subsidiary of the Company (the “Merger”), and shall expire at 5:00 p.m. Eastern Time
on the date that is two years following the consummation of the Merger (the “Expiration Date”). In
order to exercise this warrant with respect to all or any part of the Warrant Shares for which this
warrant is at the time exercisable, Holder (or in the case of exercise after Holder’s death,
Holder’s executor, administrator, heir or legatee, as the case may be) must take the following
actions:

(a) Deliver to the Corporate Secretary of the Company an executed notice of exercise
substantially in the form of notice attached to this Agreement (the “Exercise Notice”) in which
there is specified the number of Warrant Shares that are to be purchased under the exercised
warrant;

 

 

 

(b) Tender payment of the aggregate Warrant Price for the purchased shares in cash or by check
made payable to the Company’s order; and

(c) Furnish to the Company appropriate documentation that the person or persons exercising the
warrant (if other than Holder) have the right to exercise the warrant.

(d) For purposes of this Agreement, the “Exercise Date” shall be the date on which the
executed Exercise Notice shall have been delivered to the Company.

(e) Upon such exercise, the Company shall issue and cause to be delivered, with all reasonable
dispatch (and in any event within five business days of such exercise), to or upon the written
order of the Holder at its address, and in the name of the Holder, a certificate or certificates
for the number of full Warrant Shares issuable upon the exercise, together with such other property
(including cash) and securities as may then be deliverable upon such exercise. Such certificate or
certificates shall be deemed to have been issued and the Holder shall be deemed to have become a
holder of record of such Warrant Shares as of the Exercise Date.

2. The Holder acknowledges that this warrant may not be exercised if the issuance of the
Warrant Shares upon such exercise would constitute a violation of any applicable federal or state
securities laws, or other law or regulation, and the Warrant Shares have not been and will not be
registered as of the date of exercise of this warrant under the Securities Act or the securities
laws of any state. The Holder acknowledges that this warrant and the Warrant Shares, when and if
issued, are and will be “restricted securities” as defined in Rule 144 promulgated under the
Securities Act and must be held indefinitely unless subsequently registered under the Securities
Act and any other applicable state registration requirements. Except as provided herein, the
Company is under no obligation to register the securities under the Securities Act or under
applicable state statutes. In the absence of such a registration or an available exemption from
registration, sale of the Warrant Shares may be practicably impossible. The Holder shall confirm
to the Company the representations set forth above in connection with the exercise of all or any
portion of this warrant.

3. The number of Warrant Shares purchasable upon the exercise of this warrant and the Warrant
Price per share shall be subject to adjustment from time to time as follows:

(a) In the event that the Company should at any time, or from time to time, fix a record date
for the effectuation of a split, either forward or reverse, subdivision or combination of the
outstanding shares of Common Stock, or the determination of holders of Common Stock entitled to
receive a dividend or other distribution payable in additional shares of Common Stock or other
securities or rights convertible into, or entitling the holder thereof to receive directly or
indirectly, additional shares of Common Stock (hereinafter referred to as “Common Stock
Equivalents”), without payment of any consideration by such holder for the additional shares of
Common Stock or the Common Stock Equivalents (including the additional shares of Common Stock
issuable upon conversion or exercise thereof), then, as of such record date (or the date of such
dividend distribution, split or subdivision if no record date is fixed), the number of Warrant
Shares purchasable hereunder shall be appropriately increased or decreased in proportion to such
increase or decrease in the aggregate number of shares of Common Stock outstanding and those
issuable with respect to such Common Stock Equivalents.

(b) Whenever there is an adjustment in the number of Warrant Shares purchasable upon the
exercise of this warrant pursuant to the provisions of Section 3(a), the Warrant Price shall be
adjusted to an amount proportionate to the adjustment in the number of Warrant Shares.

 

2

 

(c) If at any time, or from time to time, there shall be a recapitalization of the Common
Stock (other than a subdivision or combination, or merger or sale of assets transaction provided
for elsewhere in this Section 3) provision shall be made so that the Holder shall thereafter be
entitled to receive upon exercise of this warrant the number of shares of Common Stock, Common
Stock Equivalents or property of the Company or otherwise, to which the Holder would have been
entitled upon such recapitalization assuming this warrant was exercised immediately prior thereto.
In any such case, appropriate adjustment shall be made in the application of the provisions of this
Section 3 with respect to the rights of the Holder of this warrant after the recapitalization to
the end that the provisions of this Section 3 (including adjustment of the Warrant Price then in
effect and the number of Warrant Shares issuable upon exercise) shall be applicable after that
event as nearly equivalent as may be practicable.

(d) If at any time, or from time to time, the Company shall consolidate with or merge into
another corporation, or shall sell, lease, or convey to another corporation the assets of the
Company as an entity or substantially as an entity (any one or more of such transactions being a
“Corporate Transaction”), provision shall be made so that the Holder shall thereafter be entitled
to receive upon exercise of this warrant the number of shares of Common Stock, Common Stock
Equivalents or property of the Company or otherwise, to which the Holder would have been entitled
to receive in such Corporate Transaction assuming this warrant was exercised immediately prior
thereto. In any such case, appropriate adjustment shall be made in the application of the
provisions of this Section 3 with respect to the rights of the Holder of this warrant after the
Corporate Transaction to the end that the provisions of this Section 3 (including adjustment of the
Warrant Price then in effect and the number of Warrant Shares issuable upon exercise) shall be
applicable after that event as nearly equivalent as may be practicable.

4. The Company covenants and agrees that all Warrant Shares which may be delivered upon the
exercise of this warrant will, upon delivery, be free from all taxes, liens, and charges with
respect to the purchase thereof; provided, that the Company shall have no obligation with respect
to any income tax liability of the Holder.

5. This warrant shall be subject to redemption as follows:

(a) If the closing price of the Common Stock on the Trading Market (as defined below) is $5.00
per share or more, with 15,000 shares of average daily volume, for 20 consecutive Trading Days (as
defined below), then this warrant, in whole or in part, will be subject to redemption at the option
of the Company, at a price of $0.01 per share for each Warrant Share purchasable upon the exercise
of this warrant.

(b) If the Company consummates a private offering of its Common Stock, then this warrant will
be subject to redemption at the option of the Company, at the rate of one Warrant Share for every
$4.00 of gross proceeds received by the Company in such private offering, at a price of $0.01 per
share for each Warrant Share purchasable upon the exercise of this warrant.

(c) Any amount of this warrant subject to redemption, as set forth herein (the “Redemption
Amount”), may be redeemed by the Company at any time and from time to time, upon not less than 10
nor more than 30 days notice to the Holder.

(d) The Company shall deliver to the Holder a written notice of redemption (the “Redemption
Notice”) specifying the date for the redemption (the “Redemption Payment Date”), which date shall
be at least 10 but not more than 30 days after the date of the Notice of Redemption (the
“Redemption Period”). A Notice of Redemption shall not be effective with respect to any portion of
this warrant for which the Holder
has previously delivered an Exercise Notice or for exercises elected to be made by the Holder
pursuant to Section 1 during the Redemption Period.

 

3

 

(e) The Redemption Amount shall be determined as if the Holder’s exercise elections had been
completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment
Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Company
fails to pay the Redemption Amount on the Redemption Payment Date, then such Notice of Redemption
shall be null and void.

(f) “Trading Day” means a day on which the principal Trading Market is open for business.
“Trading Market” means the following markets, exchange or bulletin boards on which the Common Stock
is listed, traded or quoted for trading on the date in question: the NASDAQ Stock Market, the New
York Stock Exchange, the American Stock Exchange or the Over-the-Counter Bulletin Board.

(g) The Company agrees that, notwithstanding the terms of this warrant, the Company shall not
redeem any portion of this warrant pursuant to Section 5 (a) of this warrant until the one year
anniversary of the consummation of the Merger.

6. The Company agrees at all times to reserve or hold available a sufficient number of shares
of Common Stock to cover the number of Warrant Shares issuable upon the exercise of this warrant.

7. This warrant shall not entitle the holder hereof to any voting rights or other rights as a
shareholder of the Company, or to any other rights whatsoever, except the rights herein expressed,
and no dividends shall be payable or accrue in respect of this warrant or the Warrant Shares until
or unless, and except to the extent that, this warrant shall be exercised.

8. The Company may deem and treat the registered owner of this warrant as the absolute owner
hereof for all purposes and shall not be affected by any notice to the contrary.

9. In the event that any provision of this Agreement is found to be invalid or otherwise
unenforceable under any applicable law, such invalidity or unenforceability shall not be construed
as rendering any other provisions contained herein invalid or unenforceable, and all such other
provisions shall be given full force and effect to the same extent as though the invalid or
unenforceable provision was not contained herein.

10. This Agreement shall be governed by and construed in accordance with the internal laws of
the State of Georgia, without regard to the principles of conflicts of law thereof.

11. This Agreement shall be binding on and inure to the benefit of the Company and the person
to whom a warrant is granted hereunder, and such person’s heirs, executors, administrators,
legatees, personal representatives, assignees, and transferees.

IN WITNESS WHEREOF, the Company has caused this warrant to be executed by the signature of its
duly authorized officer, effective this
 _____ 
day of                      2009.

	 	 	 	 	 
	 	RUB MUSIC ENTERPRISES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Cornelius A. Hofman 	 
	 	 	Title:  	President 	 

 

4

 

	 	 	 	 	 

The undersigned Holder hereby acknowledges receipt of a copy of the foregoing warrant and
acknowledges and agrees to the terms and conditions set forth in the warrant.

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 

 

5

 

	 	 	 	 	 

Exercise Notice

(to be signed only upon exercise of Warrant)

TO: RUB MUSIC ENTERPRISES, INC.

The Holder of the attached warrant hereby irrevocable elects to exercise the purchase rights
represented by the warrant for, and to purchase thereunder,                                          shares
of common stock of Rub Music Enterprises, Inc. and herewith makes payment therefor, and requests
that the certificate(s) for such shares be delivered to the Holder at:

 

 

 

If acquired without registration under the Securities Act of 1933, as amended (“Securities
Act”), the Holder represents that the Common Stock is being acquired without a view to, or for,
resale in connection with any distribution thereof without registration or other compliance under
the Securities Act and applicable state statutes, and that the Holder has no direct or indirect
participation in any such undertaking or in the underwriting of such an undertaking. The Holder
understands that the Common Stock has not been registered, but is being acquired by reason of a
specific exemption under the Securities Act as well as under certain state statutes for
transactions by an issuer not involving any public offering and that any disposition of the Common
Stock may, under certain circumstances, be inconsistent with these exemptions. The Holder
acknowledges that the Common Stock must be held and may not be sold, transferred, or otherwise
disposed of for value unless subsequently registered under the Securities Act or an exemption from
such registration is available. The Company is under no obligation to register the Common Stock
under the Securities Act or any state securities law, except as provided in the Agreement for the
warrant. The certificates representing the Common Stock will bear a legend restricting transfer,
except in compliance with applicable federal and state securities statutes.

The Holder agrees and acknowledges that this purported exercise of the warrant is conditioned
on, and subject to, any compliance with requirements of applicable federal and state securities
laws deemed necessary by the Company.

DATED this
 _____ 
day of                                                             ,
 _____.

	 	 	 	 	 
	 

	 	 
 

Signature
	 	 

 

6Exhibit 4.4

Exhibit 4.4

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE
SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT
AS PERMITTED UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS, PURSUANT TO
REGISTRATION OR EXEMPTION THEREFROM. HOLDERS SHOULD BE AWARE THAT THEY ME BE REQUIRED TO BEAR THE
FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE
SECURITIES MAY REQUIRE AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE
ISSUER, TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE SECURITIES ACT
AND ANY APPLICABLE STATE SECURITIES LAWS.

AMENDED SENIOR NOTE

			
	 	 	 
	$100,000
	 	May 31, 2009

This note (this “Note”) amends and restates that certain Senior Secured Note dated May 31,
2009 in the original principal amount of $100,000 (the “Original Note”) made by Sanuwave, Inc., a
Delaware corporation (the “Company”), and delivered to Prides Capital Fund I, L.P. or its assignees
(together, the “Holders”). This Note is not intended to be, nor shall it be construed as, a
novation of the Original Note.

Subject to the terms and conditions of this Note, for good and valuable consideration
received, the Company promises to pay to the order of the Holders, the principal amount of One
Hundred Thousand and 00/100 Dollars ($100,000) as increased as provided in Section 2 below, and
interest thereon as provided herein. The following is a statement of the rights of the Holders and
the terms and conditions to which this Note is subject, and to which the Company, by the issuance
of this Note, and the Holders, by the acceptance of this Note, agree:

1. Payments.

1.1 Payment Obligation. Unless paid earlier as provided herein, the Company shall pay
all principal and accrued and unpaid interest under this Note on September 30, 2011 (the “Maturity
Date”). All payments of principal and/or interest under this Note will be made by electronic wire
transfer to an account designated by the Holders.

1.2 Optional Prepayment. All or any portion of the principal and accrued and unpaid
interest under this Note may be paid prior to the Maturity Date without the written consent of the
Holders upon fifteen (15) days prior written notice to the Holders; provided, however, that
any such prepayment shall include accrued interest on the amount so prepaid.

 

 

 

2. Interest. Interest (computed on the basis of a 360-day year and for the actual
number of days in the respective period) shall accrue daily starting effective May 8, 2009 for
$100,000 due the Holders. Interest is payable quarterly (on March 31, June 30, September 30
and December 31), commencing on June 30, 2009, on the unpaid principal amount of this Note then
outstanding at the rate of fifteen percent (15%) per annum; provided, that the Holders have
notified the Company of their election to have such payment made in cash not less than 15 days
prior to such payment date and; provided, further, that if such notice is not
given, such accrued interest shall be capitalized and added to the principal amount of this Note.
Each amount so capitalized shall be considered part of the principal amount outstanding under this
Note and shall bear interest as provided in the first sentence of this Section 2 and shall be
payable on the Maturity Date.

3. Optional Conversion.

3.1 Holder’s Option. The Holders shall have the sole right, but not the obligation to
convert all or any portion of the unpaid principal amount of this Note into shares of the Company’s
Series A convertible participating preferred stock, par value $0.01 per share (the “Preferred
Stock”). In the event the Holders elect to convert this Note into Preferred Stock, the Conversion
Price shall be set at One Hundred Dollars ($100.00) per share.

3.2 Stock Split or Dividend. In the event that the Company should at any time, or
from time to time, fix a record date for the effectuation of a split, either forward or reverse,
subdivision or combination of the outstanding shares Preferred Stock, or the determination of
holders of Preferred Stock entitled to receive a dividend or other distribution payable in
additional to shares of Preferred Stock or other securities or rights convertible into, or
entitling the holder thereof to receive, directly or indirectly, additional shares of Preferred
Stock (hereinafter referred to as “Preferred Stock Equivalents”), without payment of any
consideration by such holder for the additional shares of Preferred Stock or Preferred Stock
Equivalents (including the additional shares of Preferred Stock issuable upon conversion or
exercise thereof), then, as of such record date (or the date of such dividend distribution, split
or subdivision if no record date is fixed), the number of shares of Preferred Stock purchasable
hereunder shall be appropriately increased or decreased in proportion to such increase or decrease
in the aggregate number of shares of Preferred Stock outstanding and those issuable with respect to
such Preferred Stock Equivalents. Whenever there is an adjustment in the number of shares of
Preferred Stock purchasable upon the conversion of this Note pursuant to the provisions of this
Section 3.2, the Conversion Price shall be adjusted to an amount proportionate to the adjustment in
the number of shares of Preferred Stock.

3.3 Recapitalization. If at any time, or from time to time, there shall be a
recapitalization of the Preferred Stock (other than a subdivision or combination, or merger or sale
of assets transaction provided for elsewhere in this Section 3), provision shall be made so that
the Holder shall thereafter be entitled to receive upon conversion of this Note the number of
shares of Preferred Stock, Preferred Stock Equivalents or property of the Company or otherwise, to
which the Holder would have been entitled upon such recapitalization assuming this Note was
converted immediately prior thereto. In any such case, appropriate adjustment shall be made in the
application of the provisions of this Section 3 with respect to the rights of the Holder of this
Note after the recapitalization to the end that the provisions of this Section 3 (included
adjustment of the Conversion Price then in effect and the number of shares of Preferred Stock
issuable upon conversion) shall be applicable after that event as nearly equivalent as may be
practicable.

 

 

 

3.4 Consolidation or Merger. If at any time, or from time to time, the Company shall
consolidate with or merge into another corporation, or shall sell, lease, or convey to another
corporation the assets of the Company as an entity or substantially as an entity (any one or more
of such transactions being a “Corporate Transaction”), provision shall be made so that the Holder
shall thereafter be entitled to receive upon conversion of this Note the number of shares of
Preferred Stock, Preferred Stock Equivalents or property of the Company or otherwise, to which the
Holder would have been entitled to receive in such Corporate Transaction assuming this Note was
converted immediately prior thereto. In any such case, appropriate adjustment shall be made in the
application of the provisions of this Section 3 with respect to the rights of the Holder of this
Note after the Corporate Transaction to the end that the provisions of this Section 3 (including
adjustment of the Conversion Price then in effect and the number of shares of Preferred Stock
issuable upon conversion) shall be applicable after that event as nearly equivalent as may be
practicable.

4. Events of Default.

4.1 The occurrence of any of the following events shall be deemed to constitute an “Event of
Default” hereunder: (a) the failure of the Company to pay the principal of this Note, together with
all accrued interest, on the Maturity Date; (b) the failure of the Company to comply with any
provision applicable to it set forth in this Note; (c) the failure of the Company to pay any amount
when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) in
respect of any indebtedness (other than indebtedness evidenced by this Note) in a principal amount
of at least $100,000 and such failure shall continue after the applicable grace period, if any, in
the agreement relating to such indebtedness, or any other event shall occur or condition shall
exist under any agreement relating to any such indebtedness and shall continue after the applicable
grace period, if any, specified in such agreement, if the effect of such event or condition is to
accelerate, or to permit the holders thereof to cause, such indebtedness to mature; (d) entry of a
judgment against the Company in the amount of $500,000 or more, if thirty (30) days have elapsed
and the judgment has not been vacated, satisfied or dismissed, and the enforcement of the judgment
has not been stayed pending appeal; and (e) any Liquidation Event (as defined below). As used
herein, “Liquidation Event” means the occurrence or institution by or against the Company of (i)
any bankruptcy, reorganization, receivership or insolvency proceeding, (ii) any appointment of a
receiver or custodian for all or a substantial portion of the property of the Company, (iii) any
assignment for the benefit of, or composition or arrangement with, the creditors of the Company
(whether or not pursuant to bankruptcy or other insolvency laws), (iv) any sale of all or
substantially all of the assets of the Company, or (v) any dissolution, liquidation or other
marshalling of the assets and liabilities of the Company.

 

 

 

4.2 If there shall occur (a) any Liquidation Event, the entire unpaid principal and accrued
interest on this Note shall automatically become and be forthwith due and payable, without any
requirement by the Holders to give notice, present the Note, make demand, protest of give other
notice of any kind of character, all of which are hereby expressly waived, anything
herein to the contrary notwithstanding, and (b) any Event of Default (other than a Liquidation
Event), then the Holders may declare the entire unpaid principal and accrued interest on this Note
immediately due and payable, by notice in writing to the Company, whereupon the entire unpaid
principal and accrued interest on this Note shall automatically become and be forthwith due and
payable, without any further requirement by Holders to present the Note, make demand, protest or
give other notice of any kind of character, all of which are hereby expressly waived, anything
herein to the contrary notwithstanding.

5. Expenses; Indemnity.

5.1 The Company shall pay all reasonable out-of-pocket expenses incurred by Holders (including
the reasonable fees, costs and disbursements of any counsel for the Holders), in connection with
the enforcement of its rights under this Note, including all such out-of-pocket expenses incurred
during any workout, restructuring or related negotiations.

5.2 The Company shall indemnify the Holders and each of its partners, directors, officers,
employees, agents and advisors (each such person being called an “Indemnitee”) against, and hold
each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related
expenses (including the reasonable fees, charges and disbursements of any counsel for any
Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any third party
arising out of, in connection with, or as a result of (i) the execution or delivery of this Note or
any agreement or instrument contemplated hereby, the performance by the parties of their respective
obligations hereunder or the consummation of the transactions contemplated hereby, or (ii) any
actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory, brought by a third party; provided,
that such indemnity shall not be available to any Indemnitee if any of the Indemnitees initiate any
such claim, litigation, investigation or proceeding; provided, further, that such indemnity shall
not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence or willful misconduct of such
Indemnitee.

5.3 The Company hereby agrees that none of the Indemnitees shall have any liability (whether
direct or indirect, in contract, tort or otherwise) to the Company or any of its affiliates or any
of their respective officers, directors, employees, agents and advisors, and the Company hereby
agrees not to assert any claim against any Indemnitee, for special, indirect, consequential and
punitive damages arising out of or otherwise relating to this Note, the actual or proposed use of
the proceeds of this Note or any transactions contemplated by this Note.

6. Assignment. Subject to any legal limitations arising under the securities laws,
the Holders have the right to transfer all or any portion of this Note to any other entity. The
rights and obligations of the Company will be binding upon and inure to the benefit of the
successors, assigns, heirs, administrators and transferees of the parties.

 

 

 

7. Waiver and Amendment.

7.1 Any amendment or waiver hereto shall be in writing and signed by the Holders and the
Company. No failure on the part of the Holder to exercise, and delay in exercising, any right
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise by the Holder
of any right hereunder preclude any other or further exercise thereof or the exercise of any other
rights. The remedies herein provided are cumulative and not exclusive of any other remedies
provided by law.

7.2 This Note amends the Original Note. This Note is not intended to be, nor shall it be
construed as, a novation of the Original Note.

8. Notices. Any notice shall be deemed to have been duly given if personally
delivered or sent by United States mail or by facsimile transmission confirmed by letter: in the
case of the Company, at Sanuwave, Inc., 11680 Great Oaks Way, Suite 350, Alpharetta, Georgia 30022,
Attention: Chief Financial Officer, Telephone: 678-578-0125, Facsimile: 866-641-1182; and in the
case of the Holders, at Prides Capital Fund I, L.P., c/o Prides Capital Partners, LLC, 200 High
Street, Suite 700, Boston, Massachusetts 02110, Attention: Hank Lawlor, Telephone: 617-778-9200,
Facsimile: 617-778-9299; or in each case, at such other address as is noticed to the respective
party in accordance with the terms hereof, and will be deemed given, unless earlier received, (i)
if sent by certified or registered mail, return receipt requested, five calendar days after being
deposited in the United States mail, postage prepaid, (ii) if sent by United States Express Mail,
two calendar days after being deposited in the United States mail, postage prepaid, (iii) if sent
by facsimile transmission, on the date sent provided a confirmatory notice was sent by first-class
mail, postage prepaid, and (iv) if delivered by hand, on the date of receipt. Any party hereto may
by notice so given change its address for future notice hereunder.

9. Governing Law; Jurisdiction; Waiver of Jury Trial.

9.1 This Note shall be governed by and construed in accordance with the laws of the State of
New York.

9.2 The Company hereby irrevocable and unconditionally submits to the nonexclusive
jurisdiction of any New York State or Federal court of the United States of America sitting in the
Borough of Manhattan, New York City, in any action or proceeding arising out of or relating to this
Note or any other note to which it is a party and irrevocably and unconditionally agrees that all
claims in respect of any such action or proceeding may be heard and determined in any such New York
State court or, to the fullest extent permitted by law, in such Federal court. Nothing in this
Section 9 shall affect any right that any party may otherwise have to bring any action or
proceeding relating to this Note in the courts of any jurisdiction. The Company hereby irrevocably
and unconditionally waives, to the fullest extent it may legally and effectively do so, (a) any
objection that it may now or hereafter have to the laying of venue of any suit, action or
proceeding arising out of this Note in any New York State or Federal court, and (b) the defense of
an inconvenient forum to the maintenance of such action or proceeding in any such court.

 

 

 

9.3 THE COMPANY HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS
NOTE OR THE ACTIONS OF THE HOLDERS IN NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT
THEREOF.

10. Headings; References. All headings used herein are used for convenience only and
will not be used to construe or interpret this Note. Except where otherwise indicated, all
references herein to Sections refer to Sections hereof.

[SIGNATURE PAGE FOLLOWS]

 

 

 

IN WITNESS WHEREOF, the Company has caused this Note to be issued as of August
 _____, 2009.

	 	 	 	 	 
	 	COMPANY:

SANUWAVE, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

The undersigned Holder hereby acknowledges receipt of a copy of the foregoing Note and
acknowledges and agrees to the terms and conditions set forth in this Note.

	 	 	 	 	 
	 	HOLDER:

PRIDES CAPITAL FUND I, L.P.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]