Document:

Exhibit 4.13

THE WARRANT REPRESENTED BY THIS CERTIFICATE AND THE SHARES ISSUABLE UPON
EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES
NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE
TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS
EFFECTIVE UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) THE
COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH
COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH
SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER
CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR
APPLICABLE STATE SECURITIES LAWS.

                               EP MEDSYSTEMS, INC.

           WARRANT FOR THE PURCHASE OF 100,000 SHARES OF COMMON STOCK

Warrant No. EP2001A-1                      This Warrant Expires on July 20, 2006

      This is to certify that, FOR VALUE RECEIVED, REINHARD SCHMIDT (the
"Holder"), is entitled to purchase, subject to the provisions of this Warrant,
from EP MEDSYSTEMS, INC., a New Jersey corporation (the "Company"), 100,000
fully paid, validly issued and nonassessable shares of common stock, no par
value, $.001 stated value per share, of the Company (the "Common Stock") at an
exercise price of $2.75 per share upon the terms and conditions set forth
herein, at any time or from time to time before 5:00 P.M. on July 20, 2006,
Eastern Standard Time (the "Exercise Period").

      The number of shares of Common Stock to be received upon the exercise of
this Warrant and the price to be paid for each share of Common Stock may be
adjusted from time to time as hereinafter set forth. The shares of Common Stock
deliverable upon such exercise, and as adjusted from time to time, are
hereinafter sometimes referred to as "Warrant Shares" and the exercise price of
a share of Common Stock in effect at any time and as adjusted from time to time
is hereinafter sometimes referred to as the "Exercise Price".

      1. EXERCISE OF WARRANT. This Warrant may be exercised in whole or in part,
during the Exercise Period by the presentation and surrender of this Warrant to
the Company at 100 Stierli Court, Suite 107, Mount Arlington, New Jersey 07856,
Attention: Chief Executive Officer, or at such other place as is designated in
writing by the Company, with the purchase form annexed hereto duly executed and
accompanied by payment of the Exercise Price for the number of Warrant Shares
specified in such form. The Exercise Price may be paid by bank check or wire
transfer. As soon as practicable after each such exercise of this Warrant, but
not later than seven (7) days from the date of such exercise, the Company shall
issue and deliver to

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the Holder a certificate for the Warrant Shares issuable upon such exercise,
registered in the name of the Holder. If this Warrant should be exercised in
part only, the Company shall, upon surrender of this Warrant for cancellation,
execute and deliver a new Warrant evidencing the rights of the Holder thereof to
purchase the balance of the Warrant Shares purchasable thereunder. Upon receipt
by the Company of this Warrant at its office, in proper form for exercise, the
Holder shall be deemed to be the holder of record of the shares of Common Stock
issuable upon such exercise, notwithstanding that the stock transfer books of
the Company shall then be closed or that certificates representing such shares
of Common Stock shall not then be physically delivered to the Holder.

      2. RESERVATION OF SHARES. The Company shall at all times reserve for
issuance and/or delivery upon exercise of this Warrant such number of shares of
its Common Stock as shall be required for issuance and delivery upon exercise of
this Warrant.

      3. FRACTIONAL SHARES. No fractional shares of Common Stock shall be issued
upon the exercise of this Warrant. With respect to any fraction of a share
called for upon any exercise hereof, the Company shall pay to the Holder an
amount in cash equal to such fraction multiplied by the Current Weighted Market
Price of one share of Common Stock.

      4. ANTIDILUTION PROVISIONS. In the event the Common Stock is changed by
reason of a stock split, reverse stock split, stock dividend or recapitalization
or is converted into or exchanged for other securities as a result of a merger,
consolidation or reorganization in which the Company is the surviving
corporation, appropriate adjustments shall be made in the terms of this Warrant,
or additional warrants shall be granted to the Holder as shall be equitable and
appropriate, or an adjustment in the number and class of shares allocated to,
and the Exercise Price of, this Warrant shall likewise be made.

      5. CERTAIN EXTRAORDINARY TRANSACTIONS. In the event the Common Stock is
exchanged for securities, cash or other property of any other corporation or
entity as the result of a reorganization, merger or consolidation in which the
Company is not the surviving corporation, the dissolution or liquidation of the
Company, or the sale of all or substantially all the assets of the Company, the
Board of Directors of the Company or the board of directors of any successor
corporation or entity may, in its discretion, as to the unexercised portion of
this Warrant, (a) provide for payment of an amount equal to the excess of the
fair market value of the Warrant Shares, as determined by the Board of Directors
of the Company or such board, over the Exercise Price of such Warrant Shares as
of the date of the transaction, in exchange for the surrender of the right to
exercise this Warrant, or (b) provide for the assumption of this Warrant, or the
substitution therefor of new warrants, by the successor corporation or entity.

      6. LOSS OF WARRANT. Upon receipt by the Company of evidence satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant, and (in the
case of loss, theft or destruction) of reasonably satisfactory indemnification,
and upon surrender and cancellation of this Warrant, if mutilated, the Company
will execute and deliver a new warrant of like tenor and date.

      7. NO RIGHTS AS SHAREHOLDER. The Holder shall not, as holder of this
Warrant, be entitled to vote, if applicable, or to receive dividends or to be
deemed the holder of

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Common Stock that may at any time be issuable upon exercise of this Warrant for
any purpose whatsoever, nor shall anything contained herein be construed to
confer upon the Holder, as such, any of the rights of a shareholder of the
Company or, if applicable, any right to vote for the election of directors or
upon any matter submitted to shareholders at any meeting thereof, or to give or
withhold consent to any corporate action (whether upon any recapitalization,
issue or reclassification of stock, change of par value or change of stock to no
par value, consolidation, merger or conveyance or otherwise), or to receive
notice of meetings, or to receive dividends or subscription rights, until such
holder shall have exercised the Warrant and been issued the Warrant Shares in
accordance with the provisions hereof.

      8. NON-TRANSFERABILITY. Neither this Warrant nor any Warrant Shares shall
be registered under the Securities Act of 1933, as amended, and applicable state
securities laws. Therefore, the Company shall require, as a condition of
allowing the transfer or exchange of this Warrant or such Warrant Shares, that
the Holder of this Warrant or such Warrant Shares, as the case may be, furnish
to the Company an opinion of counsel reasonably acceptable to the Company to the
effect that such transfer or exchange will be exempt from the registration and
prospectus delivery requirements under the Securities Act of 1933, as amended,
and applicable state securities laws. The certificates evidencing the Warrant
Shares shall bear a legend to the effect that the Warrant Shares evidenced by
such certificate have not been registered under the Securities Act of 1933, as
amended, and applicable state securities laws and are, therefore, subject to
restrictions on transfer.

      9. INVESTMENT REPRESENTATIONS AND WARRANTIES. The Holder hereby represents
and warrants to the Company that (a) he has knowledge and experience in
financial and business matters sufficient to enable him to evaluate the merits
and risks of an investment in the Company; (b) he has assets sufficient to
enable him to bear the economic risk of its investment in this Warrant and the
Warrant Shares and is an "accredited investor" as defined in Rule 501 under the
Securities Act of 1933, as amended; (c) he is acquiring this Warrant and, upon
exercise, will acquire the Warrant Shares, for his own account, and not with a
view to, or for sale in connection with, any distribution thereof; (d) he or his
representatives have received from the Company such information with respect to
the Company as he has deemed necessary and relevant in connection with this
Warrant and the Warrant Shares and he has had the opportunity, directly or
through such representatives, to ask questions of and receive answers from
persons acting on behalf of the Company necessary to verify the information so
obtained; and (e) he has not employed any broker or finder or incurred any
liability for any brokerage or finder's fees or commissions or similar payments
in connection with this Warrant and the Warrant Shares.

      10. GOVERNING LAW. This Agreement and all amendments, modifications,
alterations, or supplements hereto shall be construed under and governed by the
laws of the State of New Jersey and the United States of America, without regard
to the principles of conflicts of law thereof.

      11. MISCELLANEOUS. Except as provided in Sections 4 and 5 hereof, this
Warrant and any term hereof may be changed, waived, discharged or terminated
only by an instrument in writing signed by the party against which enforcement
of such change, waiver, discharge or termination is sought. The headings in this
Warrant are for purposes of reference only and shall

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not limit or otherwise affect any of the terms hereof. The invalidity or
unenforceability of any provision hereof shall in no way affect the validity or
enforceability of any other provision.

      12. EXPIRATION. The right to exercise this Warrant shall expire at 5:00
P.M. Eastern Standard Time on July 20, 2006.

      This Warrant is executed as of the date and year first written above.

Witness:                                          EP MEDYSTEMS, INC.

s/ Joseph M. Turner                               By: s/ David A. Jenkins
                                                  Name:  David A. Jenkins
                                                  Title: Chief Executive Officer

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                              ELECTION TO EXERCISE

      The undersigned hereby exercises its rights to purchase _______ Warrant
Shares covered by the within Warrant, and tenders payment herewith in the
aggregate amount of $________ in accordance with the terms thereof, and requests
that certificates for such securities be issued in the name of, and delivered
to:

         _________________________________________________

         _________________________________________________

         _________________________________________________
         (Print Name, Address and Social Security
           or Tax Identification Number)

      and, if such number of Warrant Shares shall not be all the Warrant Shares
covered by the within Warrant, that a new Warrant for the balance of the Warrant
Shares covered by the within Warrant be registered in the name of, and delivered
to, the undersigned at the address stated below.

         _________________________________________________

         _________________________________________________

         _________________________________________________
         (Print Name, Address and Social Security
           or Tax Identification Number)

                                    Name of Holder
                                    ______________________________

Dated:_____________                 ______________________________
Signature
                                                  ______________________________
                                                  Print Name
                                                  ______________________________
                                                  Title (if entity)

                                                  Address:______________________
                                                  ______________________________
                                                  ______________________________
Signature Guarantee

                                      E-24Exhibit 10.17

                                LICENSE AGREEMENT

      This is an Agreement made and effective as of 21st day of January, 1998,
between INCONTROL, INC., a Delaware corporation (hereinafter referred to as
"LICENSOR") and EP MEDSYSTEMS, INC., a New Jersey corporation (hereinafter
referred to as "LICENSEE").

                                   WITNESSETH:

      WHEREAS, LICENSOR owns the exclusive rights to a U.S. Patent No. 5,207,219
and foreign counterparts thereof (hereinafter referred to as ("LICENSED
TECHNOLOGY");

      WHEREAS, LICENSOR desires to obtain a license from LICENSOR to the
LICENSED TECHNOLOGY;

      WHEREAS, LICENSOR desires to grant LICENSEE such a license under the terms
and conditions set forth within this Agreement;

      NOW, THEREFORE, in consideration of the following covenants and
undertakings, the foregoing premises (incorporated herein) and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:

                                    ARTICLE I

                                   Definitions

      1.01 Licensed Product(s) means external defibrillator(s) for
defibrillating the atria of a heart with temporary catheters and/or heart wires
for internal defibrillation which is covered in the country of manufacture
and/or sale by one or more claims of a patent included in the Licensed
Technology.

                                   ARTICLE II

                                Grant of License

      2.01 LICENSOR grants to LICENSEE a worldwide nonexclusive nontransferable
license under LICENSED TECHNOLOGY to make, use, have made or sell Licensed
Products.

                                   ARTICLE III

                                    Royalties

      3.01 In consideration for the License provided in Section 2.01 above,
LICENSEE shall pay to LICENSOR royalties as follows:

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      (1)   A per unit royalty of Two percent (2%) of the sales price or two
            hundred dollars ($200.00), whichever is greater, for each Licensed
            Product made by or for LICENSEE and delivered to parties other than
            LICENSOR.

      3.02 The royalty obligations of Section 3.01 above shall commence on the
effective date of this Agreement. However, the per unit royalty obligation for
Licensed Products delivered to parties solely for use in the United States shall
not commence until such Licensed Products receive product approval from the Food
and Drug Administration.

      3.03 For the purposes of computing the royalties referred to in Section
3.01, the year shall be divided into quarters, beginning January 1, April 1,
July 1, and October 1 each year. Within thirty (30) days after the end of each
quarter, LICENSEE will submit a written report to LICENSOR which sets forth the
total sales and numbers of Licensed Products delivered during the preceding
quarter. Such information shall be utilized and maintained in confidence by
LICENSOR solely for the administration of this Agreement.

      3.04 LICENSEE will remit the full amount of royalties due for such quarter
with the written report for that quarter.

      3.05 LICENSEE will keep an account of the number of Licensed Products
manufactured over the term of this Agreement. LICENSOR shall have the right to
examine the account at reasonable times to be agreed upon by the Parties, not to
exceed one (1) time during a calendar year, upon provided LICENSEE with a
written request to examine. The sole purpose of the examination shall be to
verify the accuracy of the quarterly reports.

                                   ARTICLE IV

                         Warranties and Representations

      4.01 LICENSOR warrants that it is the sole owner of the Licensed
Technology.

      4.02 LICENSOR represents and warrants that it has the right to enter into
this Agreement, and that there are no outstanding assignments, grants, licenses,
encumbrances, obligations or agreements, either written, oral or implied,
inconsistent with this Agreement.

                                    ARTICLE V

                              Term and Termination

      5.01 Unless this Agreement is terminated at an earlier date pursuant to
Article 5, this Agreement shall run for the life of the last to expire of the
patents included in the Licensed Technology.

      5.02 This Agreement may be terminated by LICENSOR for breach or default by
LICENSEE. Such termination shall be effective thirty (30) days after written
notice is delivered to LICENSEE unless the breach or default is cured prior to
the effective date of termination.

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<PAGE>

      5.03 Licensee may terminate this Agreement at any time upon sixty (60)
days prior written notice.

      5.04 Termination of this Agreement for any reason shall not affect the
rights of the parties which have accrued prior to the date of termination.

                                   ARTICLE VI

                               More Favored Terms

      6.01 LICENSOR intends that the royalty and related terms of all further
licenses granted under the Licensed Technology for manufacture and sale of
Licensed Products shall be similar to the terms of this Agreement. LICENSOR will
advise LICENSEE as to those royalty and related terms which are different in any
such further license agreement whereupon LICENSEE may determine whether such
terms are more favorable than those granted herein. LICENSEE shall, at its
election, be entitled upon written notice to LICENSOR to have this Agreement
amended to substitute the terms of such more favorable license for the terms of
this Agreement as of the date upon which such more favorable license shall have
become effective. Such amendment shall, as to the royalty, apply only to
prospective royalties.

                                   ARTICLE VII

                        General Conditions and Provisions

      7.01 Notices.

            (a) Any notice or submission provided for by this Agreement and any
other notice, demand or communication which any party may wish to send to
another (hereinafter collectively referred to as the "Notices") shall be in
writing and shall be deemed to have been properly given if served by (i)
personal delivery or (ii) registered or certified mail, return receipt
requested, in a properly sealed envelope, postage prepaid, addressed to the
party for whom such Notice is intended, at such party's address as set forth
below:

                  If to LICENSEE:

                  Attn: David A. Jenkins
                  EP MedSystems, Inc.
                  100ierli Court - Suite 107
                  Mt. Arlington, NJ 07856
                  (973) 398-2800

                  If to LICENSOR:

                  Attn: Richard O. Gray, Jr.
                  InControl, Inc.
                  6675 185th Avenue, Northeast
                  Redmond, WA 98052-6734
                  (425) 861-9800

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            (b) Any address or name specified above may be changed by a Notice
given by the addressee to the other party in accordance with (a) above.

            (c) All notices shall be deemed given and effective as of the date
of personal delivery or the date of receipt set forth on the return receipt.

      7.02 Assignment. This Agreement may not be assigned or transferred by
LICENSEE.

      7.03 Entire Agreement. This Agreement is intended by the parties as a
final and complete expression of their agreement on the subject hereof, and
supersedes any and all prior and contemporaneous agreements and understandings.
No other agreements, oral or otherwise, shall be deemed to exist or to bind any
of the parties hereto.

      7.04 Modification and Waiver. This Agreement may not be modified and none
of its terms may be waived, except in writing signed by both parties. A waiver
by either party of any default shall not be deemed a waiver of a prior or
subsequent default of the same or other provisions of this Agreement. The
failure of either party to enforce, or the delay by either party in enforcing,
any of its rights, shall not be deemed a continuing waiver or a modification of
this Agreement.

      7.05 Severability. If any part of this Agreement shall be declared invalid
or unenforceable by a court of competent jurisdiction, it shall not affect the
validity of the balance of this Agreement.

      7.06 Governing Law. This Agreement shall be governed by and interpreted in
accordance with the laws of the State of Washington.

      7.07 Arbitration. In the event that either party believes that the other
has breached any provision of this Agreement, it shall advise the other of the
basis for its belief, and provide it with any available information with respect
to the alleged breach. If the parties cannot agree whether this Agreement has
been breached and on reasonable damages for any such breach, such disputes shall
be settled by arbitration, in accordance with the Center for Public Resources
("CPR") Rules for Non-Administered Arbitration of Business Disputes. The
arbitration shall be conducted expeditiously by a sole arbitrator. If the
parties cannot agree on an acceptable arbitrator within ten (10) days of the
initiation of arbitration, a sole arbitrator shall be selected from the CPR
Panel of Neutrals. Any such arbitration shall be governed by the United States
Arbitration Act, 9 U.S.C. ss.ss.1-16, and judgment upon the award rendered by
the arbitrator may be entered by any court having jurisdiction thereof. The
place of arbitration shall be Seattle, Washington. The arbitrator shall conduct
a hearing within thirty (30) days of the initiation of arbitration and shall be
directed to render a decision without opinion within forty-eight (48) hours of
the conclusion of that hearing. The arbitrator shall be empowered to award
actual damages to the complaining party if it prevails. The arbitrator shall
also be empowered to award reasonable attorneys' fees to the prevailing party.

      7.08 Interpretation. Ambiguities in this Agreement shall not be construed
against a party based on that party's drafting of the ambiguous language.

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      7.09 Headings. Section and paragraph titles used in this Agreement are for
convenience only and shall not be deemed to affect the meaning or construction
of any of the terms, provisions, covenants, or conditions of this Agreement.

      7.10 Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original and all of which
together shall be deemed to be one and the same instrument.

      7.11 Patent Enforcement. LICENSOR shall have no obligation to enforce
Licensed Technology.

      7.12 Patent Marking. LICENSEE shall mark each Licensed Product with "U.S.
Patent No. 5,207,219."

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      IN WITNESS WHEREOF, EP MEDSYSTEMS, INC. and INCONTROL, INC. have caused
this instrument to be executed by their duly authorized representative on the
date and year first above written.

EP MEDSYSTEMS, INC. (LICENSEE)   INCONTROL, INC. (LICENSOR)

By:  s/ David A. Jenkins         By: s/ Robert A. Garee
     (Signature)                     (Signature)
     Name: David A. Jenkins          Name: Robert A. Garee
     Title: President and CEO        Title: Vice President, Worldwide Operations
     Date: January 27, 1998          Date: January 26, 1998

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