Document:

Exhibit 10.1

 

THIS NOTE AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE PROVISIONS OF ANY APPLICABLE STATE SECURITIES
LAWS. THIS NOTE AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR
OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION
IS NOT REQUIRED.

 

SECURED CONVERTIBLE SUBORDINATED PROMISSORY
NOTE

 

	$	 	Note: ________,2013

 

FOR VALUE RECEIVED, ProUroCare Medical Inc.,
a Nevada corporation (the “Company”), hereby promises to pay to __________ (“Holder”), the principal sum
of __________________($_______), together with interest as provided for herein, in lawful currency of the United States of America.

 

SECTION
1

Terms

 

Section 1.1 Maturity. Subject to
the earlier conversion of this Convertible Subordinated Promissory Note (the “Note”) under the terms set forth in Section
1.3 hereof, the entire outstanding principal amount of this Note, together with the interest accrued on this Note from the date
of this Note through the date of payment, shall be payable to the Holder in cash on the first anniversary of the closing date of
the Offering (the “Maturity Date”).

 

Section 1.2 Interest. Interest shall
accrue on the unpaid principal at a rate of 10.00% per annum on a 365/360 basis; that is, by applying the ratio of the annual interest
rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days outstanding.

 

Section 1.3 Conversion.

 

(a) Conversion Price. The Conversion
Price will be a) the lower of the 30 day volume weighted trading average or $0.50 per share or b) 75% of the lowest price for
a common share in any equity financing with cash proceeds to the Company of more than $3 million closed by the Company on or after
October 1, 2013 (excluding the proceeds from the Bridge Loan financing described herein) and prior to conversion (the “Conversion
Price”).

 

(b) Optional Conversion.
At any time or from time to time, at the option of the Holder, all or any portion of the entire outstanding principal amount of
this Note, together with all interest accrued thereon (such principal and accrued interest, the “Outstanding Balance”)
may be converted into that number of shares of the Company’s common stock, $0.00001 par value per share (its “Common
Stock”), as is obtained by dividing the Outstanding Balance by the Conversion Price.

 

(c) Conversion at Maturity.
At the close of business on the Maturity Date, the entire Outstanding Balance shall automatically convert into that number of shares
of Common Stock as is obtained by dividing the Outstanding Balance by the Conversion Price.

 

    	 

    	 

    

 

 

Section 1.4 No Fractional Shares or Scrips.
No fractional shares or scrip representing fractional shares shall be issued upon the conversion of this Note. In lieu of issuing
such fractional shares, the Company shall round up the number of shares to be issued to the nearest whole share.

 

Section 1.5 No Impairment. Without
limiting or altering the provisions or obligations of the Company under this Note, the Company shall not avoid or seek to avoid
the observance or performance of any of the terms to be observed or performed by it pursuant to this Note and shall at all times
in good faith assist in the observance or performance of any of the terms to be observed or performed by it pursuant to this Note.

 

Section 1.6 Release of Obligations.
Upon conversion or repayment of this Note, the Company shall be forever released from all its obligations and liabilities under
this Note.

 

Section 1.7 Adjustment.

 

		(a)	Adjustments for Dividends and Distributions. In the event the Company at any time or from time to time after the date
hereof shall make, issue, or fix a record date for the determination of holders of capital stock entitled to receive a dividend
or other distribution (including a stock split or subdivision) payable in securities of the Company, then and in such event provisions
shall be made so that the Holder shall receive, upon conversion of this Note, in addition to the number of shares of Common Stock
receivable thereupon, the amount of securities of the Company that the Holder would have received had this Note been converted
into Common Stock on the date of such event and had the Holder thereafter, during the period from the date of such event to and
including the conversion date, retained such securities receivable by the Holder as aforesaid during such period, giving application
to all adjustments called for during such period under this Note with respect to the rights of the Holder under the Note.

 

		(b)	Adjustment for Reclassifications, Exchanges, or Substitutions. If the Common Stock issuable upon the conversion of this
Note shall be changed into the same or different number of shares of any class or classes of capital stock, whether by capital
reorganization, reclassification, or otherwise (other than a subdivision or combination of shares or stock dividend, or a reorganization,
merger, consolidation, or sale of assets provided for elsewhere), then and in each such event the Holder shall have the right thereafter
to convert this Note into the kind and amount of shares of capital stock and other securities and property receivable upon such
reorganization, reclassification, or other change, by holders of the number of shares of Common Stock into which this Note might
have been converted immediately prior to such reorganization, reclassification or change, all subject to further adjustment as
provided herein.

 

		(c)	Reorganization; Mergers; Consolidations; Sales of Assets. If at any time or from time to time there shall be a capital
reorganization of the Common Stock issuable upon conversion of this Note (other than a subdivision, combination, reclassification,
or exchange of shares provided for elsewhere) or a merger or consolidation of the Company with or into another corporation, or
the sale of all or substantially all of the Company’s properties and assets to any other entity, then, as a part of such
reorganization, merger, consolidation, or sale, provision shall be made so that the Holder shall thereafter be entitled to receive
upon conversion of this Note, the number of shares of capital stock or other securities or property of the Company, or of the successor
corporation resulting from such merger or consolidation or sale, to which a holder of Common Stock deliverable upon conversion
would have been entitled on such capital reorganization, merger, consolidation, or sale. In any such case, appropriate adjustment
shall be made in the application of the provisions of this Note with respect to the rights of the Holder after the reorganization,
merger, consolidation, or sale to the end that the provisions of this Note shall be applicable after the event as nearly equivalent
as may be practicable.

 

    	 

    	 

    

 

		(d)	Adjustment for Stock Splits and Combinations. If the Company at any time or from time to time effects a subdivision
of the outstanding capital stock, the Conversion Price then in effect immediately before that subdivision shall be proportionately
decreased, and conversely, if the Company at any time or from time to time combines the outstanding shares of capital stock, the
Conversion Price then in effect immediately before the combination shall be proportionately increased. Any adjustment under this
subsection (d) shall become effective at the close of business on the date the subdivision or combination becomes effective.

 

SECTION
2

Restrictions on Transfer

 

Section 2.1 No Transfer. No transfer
of this Note may be completed unless and until (i) the Company has received an opinion of counsel for the Company that such securities
may be sold pursuant to an exemption from registration under the Securities Act of 1933, as amended (the “Securities Act”),
or (ii) a registration statement relating to this Note has been filed by the Company and declared effective by the Commission.
Subject to the foregoing, this Note and all rights hereunder are transferable, in whole or in part, at the principal office of
the Company by the Holder in person or by duly authorized attorney, upon surrender of this Note properly endorsed to any person
or entity who represents in writing that he/she/it is acquiring the Note for investment and without any view to the sale or other
distribution thereof. Each Holder of this Note, by taking or holding the same, consents and agrees that the bearer of this Note,
when endorsed, may be treated by the Company and all other persons dealing with this Note as the absolute owner hereof for any
purpose and as the person entitled to exercise the rights represented by this Note or perform the obligations required hereby,
or to the transfer hereof on the books of the Company, any notice to the contrary notwithstanding; but until such transfer on such
books, the Company may treat the registered owner hereof as the owner for all purposes.

 

Section 2.2 Legend. Each certificate
for Common Stock issued upon the conversion of this Note shall bear a legend as follows unless, in the opinion of counsel to the
Company, such legend is not required in order to ensure compliance with the Securities Act:

 

“THE SECURITIES EVIDENCED BY THIS CERTIFICATE
WERE ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE SECURITIES
LAWS, AND IN RELIANCE UPON THE HOLDER’S REPRESENTATION THAT SUCH SECURITIES WERE BEING ACQUIRED FOR INVESTMENT AND NOT FOR
RESALE. NO TRANSFER OF THE SECURITIES MAY BE MADE ON THE BOOKS OF THE COMPANY UNLESS (i) SUCH TRANSFER IS MADE PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE SECURITIES LAWS OR (ii) UNLESS THE HOLDER
SHALL HAVE PROVIDED THE COMPANY WITH AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE COMPANY TO THE EFFECT THAT NO SUCH REGISTRATION
IS REQUIRED.”

 

    	 

    	 

    

 

SECTION
3

Events of Default

 

Section 3.1 Events of Default. The
entire outstanding principal amount of this Note, together with all interest accrued thereon (such principal and accrued interest,
the “Outstanding Balance”) shall become due and payable in cash without any action on the part of the Holder
thereof upon the happening of any of the following events (each, an “Event of Default”):

 

		(a)	the Company shall generally not pay its debts as such debts become due, or shall admit in writing its inability to pay its
debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against
the Company seeking to adjudicate it bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment,
custodianship, protection, or relief of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief
of debtors, or seeking the entry of an order for relief or the appointment of a receiver, custodian trustee, or other similar official
for it or for any substantial part of its property; or

 

		(b)	the Company shall default in the due performance or observance of any expressed or implied covenant, agreement or provision
of this Note and such default shall have continued uncured for a period of sixty (60) days after written notice thereof to the
Company from the Holder.

 

Section 3.2 Suits for Enforcement.
In case any one or more Events of Default shall have occurred and be continuing, unless such Events of Default shall have been
waived in the manner provided in Section 4.6, the Holder may proceed to protect and enforce his rights under this Section 3 by
suit in equity or action at law. It is agreed that in the event the Holder prevails in such action, the Holder shall be entitled
to receive all reasonable fees, costs and expenses incurred, including without limitation such reasonable fees and expenses of
attorneys (whether or not litigation is commenced) and reasonable fees, costs and expenses of appeals.

 

SECTION
4

Miscellaneous

 

Section 4.1 No rights as Shareholder.
This Note shall not entitle the Holder to any voting rights or other rights as a shareholder of the Company.

 

Section 4.2 Lost, Stolen or Mutilated
Notes. Upon receipt of evidence satisfactory to the Company of the loss, theft, destruction or mutilation of this Note, and
in case of any such loss, theft or destruction, upon delivery of any customary indemnity agreement reasonably satisfactory to the
Company, or in any case of any such mutilation, upon surrender and cancellation of this Note, the Company at its expense will issue
and deliver a new Note of like tenor in an amount equal to the amount of such lost, stolen or mutilated Note and any such lost,
stolen or destroyed Note shall thereupon become void.

 

Section 4.3 Benefit of Note. This
Note shall be binding upon, and shall inure to the benefit of and be enforceable by, the Holder and his successors and assigns.
All of the covenants and the agreements contained in this Note by or on behalf of the Company are binding on the Company’s
successors and assigns, whether by consolidation, merger, transfer or license of all or substantially all of the property of the
Company.

 

    	 

    	 

    

 

Section 4.4 Costs of Collection.
The Company hereby waives presentment for payment, notice of dishonor, protest and notice of protest and, following an Event of
Default, the Company shall pay all of the Holder’s costs of collecting or attempting to collect any amount due hereunder,
including but not limited to, all reasonable attorneys’ fees and legal expenses.

 

Section 4.5 Notices. All notices
required under this Note shall be deemed to have been given or made for all purposes (i) upon personal delivery, (ii) upon confirmation
receipt that the communication was successfully sent to the applicable number if sent by facsimile; (iii) one day after being sent,
when sent by professional overnight courier service, or (iv) five days after posting when sent by registered or certified mail.
Notices to the Company shall be sent to the principal office of the Company (or at such other place as the Company shall notify
the Holder hereof in writing). Notices to the Holder shall be sent to the address of the Holder as set forth in the books and records
of the Company on the date hereof (or at such other place as the Holder shall notify the Company hereof in writing).

 

Section 4.6 Amendment; Waiver. Any
term of this Note may be amended, changed or modified, and the observance of any term of this Note may be waived (either generally
or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Holder.

 

Section 4.7 Governing Law and Construction.
This Note shall be construed in accordance with and governed by the laws of the State of Minnesota, without regard to the principles
of conflicts of law. Whenever possible, each provision of this Note and any other statement, instrument or transaction contemplated
hereby and valid under such applicable law, but, if any provision of this Note or any other statement, instrument or transaction
contemplated hereby or relating hereto shall be held to be prohibited or invalid under such applicable law, such provision shall
be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Note or any other statement, instrument or transaction contemplated hereby or relating hereto.

 

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

 

PROUROCARE MEDICAL INC.

 

By:_________________________________

      Name________________

 

Title: __________________Exhibit 10.2

 

THE WARRANT AND THE SECURITIES ISSUABLE
UPON EXERCISE OF THIS WARRANT (COLLECTIVELY, THE “SECURITIES”) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES OR BLUE SKY LAWS (“BLUE SKY LAWS”).
NO TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THIS WARRANT OR THE SECURITIES OR ANY INTEREST THEREIN
MAY BE MADE EXCEPT (A) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE BLUE SKY LAWS
OR (B) IF THE COMPANY HAS BEEN FURNISHED WITH BOTH AN OPINION OF COUNSEL FOR THE HOLDER, WHICH OPINION AND COUNSEL SHALL BE SATISFACTORY
TO THE COMPANY, TO THE EFFECT THAT NO REGISTRATION IS REQUIRED BECAUSE OF THE AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT AND APPLICABLE BLUE SKY LAWS, AND ASSURANCES THAT THE TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER
DISPOSITION WILL BE MADE ONLY IN COMPLIANCE WITH THE CONDITIONS OF ANY SUCH REGISTRATION OR EXEMPTION.

 

WARRANT FOR

SHARES OF COMMON

STOCK

OF

PROUROCARE MEDICAL

INC.

 

Warrant No. 13- __________

Eden Prairie, Minnesota

______________, 2013 

 

 

FOR VALUE RECEIVED, _______________,
or his successors or assigns (“Holder”), is entitled to subscribe for and purchase from ProUroCare Medical Inc.,
a Nevada corporation (the “Company”), up to ____________ fully paid and non-assessable shares of the Company’s
common stock, $0.00001 par value per share (the “Common Stock”), at the price of $0.50 per share, subject to
adjustments as noted in section 4 below (the “Warrant Exercise Price”).

 

This warrant may be exercised by Holder
at any time or from time to time on or prior to October 1, 2016.

 

This warrant is subject to the following
provisions, terms and conditions:

 

1. Exercise of Warrant. The rights
represented by this warrant may be exercised by the Holder, in whole or in part, by written notice of exercise delivered to the
Company at least three days prior to the intended date of exercise and by the surrender of this warrant (properly endorsed if required)
at the principal office of the Company and upon payment to it by cash, certified check or bank draft of the purchase price for
such shares. The shares so purchased shall be deemed to be issued as of the close of business on the date on which this warrant
has been exercised by its surrender and payment to the Company of the Warrant Exercise Price. Certificates for the shares of stock
so purchased, bearing the restrictive legend set forth in Section 6 of this warrant, shall be delivered to the Holder within 15
days after the rights represented by this warrant shall have been so exercised, and, unless this warrant has expired, a new warrant
representing the number of shares, if any, with respect to which this warrant has not been exercised shall also be delivered to
the Holder within such time. No fractional shares shall be issued upon the exercise of this warrant.

 

    	 

    	 

    

 

 

2. Call of the Warrant. The Company
reserves the right to call this warrant, at any time prior to its exercise, with a notice of call sent in writing to all of the
holders of record of this warrant and all other warrants issued on the date hereof, giving 30 days’ notice of such call,
provided that the last sale price of the Shares shall have been equal to or greater than $2.00 per share for 10 consecutive trading
days. The call price of this warrant shall be $0.01 per warrant. Any warrant neither exercised nor tendered back to the Company
by the end date specified in the notice of call shall be canceled on the books of the Company and have no further value except
for the $0.01 call price.

 

3. Certain Covenants of the Company.
The Company covenants and agrees that all shares that may be issued upon the exercise of the rights represented by this warrant
shall, upon issuance, be duly authorized and issued, fully paid and non-assessable shares. The Company further covenants and agrees
that during the period within which the rights represented by this warrant may be exercised, the Company will at all times have
authorized, and reserved for the purpose of issue or transfer upon exercise of the subscription rights evidenced by this warrant,
a sufficient number of shares of Common Stock to provide for the exercise of the rights represented by this warrant.

 

4. Adjustment of Exercise Price and Number
of Shares. The number of shares the Holder may purchase and the Warrant Exercise Price shall be subject to adjustment from
time to time as hereinafter provided in this section 4.

 

(a) Stock
Dividend, Stock Split or Stock Combination. If the Company at any time divides the outstanding shares of its Common Stock into
a greater number of shares (whether pursuant to a stock split, stock dividend or otherwise), and conversely, if the outstanding
shares of its Common Stock are combined into a smaller number of shares, the Warrant Exercise Price in effect immediately prior
to such division or combination shall be proportionately adjusted to reflect the reduction or increase in the value of each such
Common Stock.

 

(b) Effect
of Reorganization, Reclassification or Merger. If any capital reorganization or reclassification of the capital stock of the
Company, or consolidation or merger of the Company with another corporation, or the sale of all or substantially all of its assets
to another corporation shall be effected in such a way that holders of the Common Stock shall be entitled to receive stock, securities
or assets with respect to or in exchange for such Common Stock, then, as a condition of such reorganization, reclassification,
consolidation, merger or sale, the Holder shall have the right to purchase and receive upon the basis and upon the terms and conditions
specified in this warrant and in lieu of the shares of the Common Stock immediately theretofore purchasable and receivable upon
the exercise of the rights represented hereby, such shares of stock, other securities or assets as would have been issued or delivered
to the Holder if it had exercised this warrant and had received such shares of Common Stock prior to such reorganization, reclassification,
consolidation, merger or sale.

 

(c) Notice
of Adjustment. Upon any adjustment of the Warrant Exercise Price, the Company shall give written notice thereof, by first class
mail, postage prepaid, addressed to the registered Holder of this warrant at the address of such Holder as shown on the books of
the Company, which notice shall state the Warrant Exercise Price resulting from such adjustment and the increase or decrease, if
any, in the number of shares purchasable at such price upon the exercise of this warrant, setting forth in reasonable detail the
method of calculation and the facts upon which such calculation is based.

 

    	 

    	 

    

 

5. No rights as Shareholder. This warrant
shall not entitle the Holder to any voting rights or other rights as a shareholder of the Company.

 

6. Application of Restrictions on Transfer.

 

(a) No
transfer of this warrant may be completed unless and until (i) the Company has received an opinion of counsel for the Company that
such securities may be sold pursuant to an exemption from registration under the Securities Act of 1933, as amended (the “Securities
Act”), or (ii) a registration statement relating to this warrant has been filed by the Company and declared effective
by the Commission. Subject to the foregoing, this warrant and all rights hereunder are transferable, in whole or in part, at the
principal office of the Company by the Holder in person or by duly authorized attorney, upon surrender of this warrant properly
endorsed to any person or entity who represents in writing that he/she/it is acquiring the warrant for investment and without any
view to the sale or other distribution thereof. Each Holder of this warrant, by taking or holding the same, consents and agrees
that the bearer of this warrant, when endorsed, may be treated by the Company and all other persons dealing with this warrant as
the absolute owner hereof for any purpose and as the person entitled to exercise the rights represented by this warrant or perform
the obligations required hereby, or to the transfer hereof on the books of the Company, any notice to the contrary notwithstanding;
but until such transfer on such books, the Company may treat the registered owner hereof as the owner for all purposes.

 

(b) Each
certificate for shares issued upon the exercise of the rights represented by this warrant shall bear a legend as follows unless,
in the opinion of counsel to the Company, such legend is not required in order to ensure compliance with the Securities Act:

 

“THE SECURITIES EVIDENCED
BY THIS CERTIFICATE WERE ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE
STATE SECURITIES LAWS, AND IN RELIANCE UPON THE HOLDER’S REPRESENTATION THAT SUCH SECURITIES WERE BEING ACQUIRED FOR INVESTMENT
AND NOT FOR RESALE. NO TRANSFER OF THE SECURITIES MAY BE MADE ON THE BOOKS OF THE COMPANY UNLESS (i) SUCH TRANSFER IS MADE PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE SECURITIES LAWS OR (ii)
UNLESS THE HOLDER SHALL HAVE PROVIDED THE COMPANY WITH AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE COMPANY TO THE EFFECT
THAT NO SUCH REGISTRATION IS REQUIRED.”

 

7. Governing Law. This Warrant shall
be governed by and construed in accordance with the laws of the State of Minnesota without regard to its conflicts-of-law provisions.

 

8. Amendments and Waivers. The provisions
of this Warrant may not be amended, modified or supplemented, and waiver or consents to departures from the provisions hereof may
not be given, unless the Company agrees in writing and has obtained the written consent of the Holder.

 

9. Successors and Assigns. All the
terms and conditions of this Warrant shall be binding upon and inure to the benefit of the permitted successors and assigns of
the Company and the Holder.

 

    	 

    	 

    

 

10. Headings and References. The headings
of this Warrant are for convenience only and shall not affect the interpretation of this Warrant. Unless the context indicates
otherwise, all references herein to Sections are references to Sections of this Warrant.

 

11. Notices. All notices or communications
hereunder, except as herein otherwise specifically provided, shall be in writing. Notices sent to the Holder shall be mailed, hand
delivered or faxed and confirmed to the Holder at his, her or its address set forth in the Company’s records. Notices sent
to the Company shall be mailed, hand delivered or faxed and confirmed to ProUroCare Medical Inc., 6440 Flying Cloud Dr., Suite
101, Eden Prairie, MN 55344 or to such other address as the Company or the Holder shall notify the other as provided in this Section.

 

IN WITNESS WHEREOF, the Company has caused
this warrant to be signed and delivered by its duly authorized officer.

 

Dated: ____________, 2013.

 

PROUROCARE MEDICAL INC.

 

By: _________________________________

Name:

Title:

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