Document:

Form of Unsecured Subordinated Convertible Promissory Note

 Exhibit 10.3 
 THIS NOTE, AND THE SECURITIES ISSUABLE PURSUANT TO A CONVERSION OF THIS NOTE, HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THIS NOTE, AND THE SECURITIES
ISSUABLE PURSUANT TO A CONVERSION OF THIS NOTE, HAVE BEEN ACQUIRED WITHOUT A VIEW TO DISTRIBUTION AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THIS NOTE, OR FOR THE
SECURITIES ISSUABLE PURSUANT TO A CONVERSION OF THIS NOTE, AS THE CASE MAY BE, UNDER THE ACT AND UNDER ANY APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL FOR THE HOLDER (CONCURRED IN BY LEGAL COUNSEL FOR THE CORPORATION) THAT SUCH
REGISTRATION IS NOT REQUIRED AS TO SUCH SALE OR OFFER 
 Form of Unsecured Subordinated Convertible Promissory Note

  

			
	$        	  	Tualatin, Oregon
		  	As of June 29 2011

 For value received, Bioject Medical Technologies Inc., an Oregon corporation (the
“Company”), promises to pay to              (the “Holder”) the principal sum of
             dollars ($        ), together with interest thereon as set forth herein (this “Note”). This Note
is issued as part of a series of similar notes (collectively, the “Bridge Notes”) issued pursuant to the terms of, and is entitled to the benefits of, the Convertible Note and Warrant Purchase Agreement (the
“Agreement”) of even date herewith to the persons listed on the Exhibit A thereto. 
 The following is a
statement of the rights of the Holder and the conditions to which this Note is subject, and to which the Holder, by the acceptance of this Note, agrees: 
  

	1.	Payment Terms. The unpaid principal balance from time to time outstanding under this Note shall bear interest at the rate of 10% per annum. The outstanding
principal balance of and accrued but unpaid interest under this Note shall be repaid by the Company on or before December 29, 2011 (December 29 2011 or as extended, the “Maturity Date”) unless prepaid or extended pursuant to
the terms hereof. This Maturity Date of this Note may, at the Holder’s option be extended to June 28, 2012 by the Holder’s prior written notice of his or her desire to extend the Maturity Date. Except as otherwise provided herein,
both principal and interest shall be payable on the Maturity Date in lawful money of the United States of America to the Holder at the address listed on the signature page hereto (or at such other location as shall be designated by the Holder in a
written notice to the Company), in same day funds. 

  

	2.	Events of Default. If any of the events specified in this Section 2 shall occur (herein individually referred to as an “Event of Default”),
the Holder of the Note may, so long as such condition exists, declare the entire principal and unpaid accrued interest hereon immediately due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby
expressly waived: 

  

	 	(a)	Default in the payment of the principal and unpaid accrued interest of this Note when due and payable if such default is not cured by the Company within ten
(10) business days after the Holder has given the Company written notice of such default; or 

  

	 	(b)	Any breach by the Company of any representation, warranty, or covenant in this Note; provided, that, in the event of any such breach, to the extent such breach is
susceptible to cure, such breach shall not have been cured by the Company within ten (10) business days after written notice to the Company of such breach; or 

	 	(c)	The Company shall (i) apply for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its
property, (ii) make a general assignment for the benefit of its or any of its creditors, (iii) be dissolved or liquidated in full or in part, (iv) commence a voluntary case or other proceeding seeking liquidation, reorganization
or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an
involuntary case or other proceeding commenced against it or (v) take any action for the purpose of effecting any of the foregoing; or 

  

	 	(d)	Proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Company or of all or a substantial part of the property thereof, or an
involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Company or the debts thereof under any bankruptcy, insolvency or other similar law now or hereafter in effect shall be commenced and an
order for relief entered, or such case or proceeding shall not be dismissed, discharged or stayed within 60 days of commencement. 

 Notwithstanding anything to the contrary contained herein, if any of the events described in Sections 2(c) or (d) occur, this Note shall be automatically accelerated and the entire principal and
unpaid accrued interest thereon shall immediately become due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived. 

 

	3.	Prepayment. Prior to the Maturity Date, this Note may not be prepaid except with the written consent of the holders of a majority in interest of the Bridge Notes
(the “Majority Holders”). 

  

	4.	Conversion. 

  

	 	4.1	Voluntary Conversion. 

  

	 	4.1.1	Holder, at his sole option and upon giving written notice to the Company, may at any time prior to the payment of this Note in full, convert the outstanding principal
and unpaid interest under this Note into the number of shares of the Company’s Common Stock equal to the sum of the outstanding principal balance of this Note plus all accrued and unpaid interest owing under this Note, divided by the amount
equal to the Exercise Price (as adjusted for stock splits, stock dividends and the like in the same manner as the Exercise Price (as defined in the Agreement, dated the date hereof and issued to Holder) is adjusted pursuant to the Warrant issued to
Holder under the Agreement)). 

  

	 	4.1.2	If a Qualified Financing is completed on or before the Maturity Date, the Holder may elect to convert the outstanding principal amount of this Note plus accrued and
unpaid interest hereunder into the securities issued in the Qualified Financing concurrently with the closing of the transaction on the Financing Date at a conversion price per share equal the Financing Price without any other action by Holder.

  

	 	4.1.3	For purposes of this Section 4.1, the following terms shall have the definitions set forth below: 

 

	 	(a)	“Qualified Financing” means the offering by the Company of shares of equity securities, including units consisting of stock and warrants, resulting in
the receipt of cash proceeds by the Company after the date hereof of at least $225,000 in the aggregate (the “Minimum Proceeds”) on or prior to the Maturity Date (as defined herein). For purposes of this Note, Minimum Proceeds shall
not be deemed to include the conversion of the principal amount of the outstanding Bridge Notes and accrued and unpaid interest thereon. 

  
 2 

	 	(b)	“Financing Date” means the date of the closing of the Qualified Financing pursuant to which the Company receives the Minimum Proceeds.

  

	 	(c)	“Financing Price” shall mean the price per share or unit, as applicable, for the securities issued in the Qualified Financing.

  

	 	4.2	Notice of Conversion Pursuant to Section 4.2. If this Note is converted pursuant to Section 4.1, written notice shall be given by the Holder of this
Note to the Company at the place where the principal executive office of the Company is located, notifying the Company of Holder’s election to convert. If this Note is eligible to be converted pursuant to Section 4.1.2, at least four
business days before the Qualified Financing, the Company shall deliver written notice to the Holder of this Note at the address last shown on the records of the Company for the Holder or given by the Holder to the Company for the purpose of notice
or, if no such address appears or is given, at the place where the principal executive office of the Company is located, notifying the Holder of the conversion, specifying the conversion price, the principal amount of the Note eligible to be
converted, the amount of accrued interest converted, the date of the proposed conversion and requesting the Holder notify the Company of his election to convert the Note if any, in the manner and at the place designated in the Company’s notice.
A holders election to convert the Note in connection with a Qualified Financing must be made at least two business days before the expected date of the Qualified Financing. 

 

	 	4.3	Delivery of Stock Certificates; Effect of Conversion. No fractional shares of stock shall be issued upon conversion of this Note. Upon conversion of this Note
into stock, in lieu of the Company issuing any fractional shares to the Holder, the Company shall pay to the Holder the amount of outstanding principal that is not so converted in cash. As promptly as practicable after the conversion of this Note,
the Company at its expense will issue and deliver to the Holder of this Note a certificate or certificates for the number of shares of stock or units, as applicable, issuable upon such conversion (rounded down to the nearest whole number, such that
no fractional shares shall be issued). Such certificate or certificates shall bear such legends as are required by applicable state and federal securities laws in the opinion of counsel to the Company. Upon conversion of this Note, the Company shall
be forever released from all its obligations and liabilities under this Note. 

  

	 	4.4	Payment of Expenses and Taxes on Conversion. The Company shall pay all expenses, taxes (excluding income or franchise taxes) and other charges payable in
connection with the preparation, execution, issuance and delivery of stock certificate(s) pursuant to this Section 4, except that, in the event such stock certificate(s) shall be registered in a name or names other than the name of the Holder,
funds sufficient to pay all stock transfer fees, which shall be payable upon the execution and delivery of such stock certificate(s), shall be paid by the Holder hereof to the Company at the time of delivering this Note to the Company upon
conversion. 

  
 3 

	5.	Subordination. To induce one or more lenders to extend credit to the Company, and for the benefit of such lenders, Holder agrees, by its acceptance of this Note,
for itself and for each future holder (if any) of this Note, that the obligations evidenced by this Note (the “Subordinated Obligations”) are expressly subordinate and junior in right of payment to all principal amounts of, and
accrued interest on (including, without limitation, any interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency or reorganization of the Company), each loan agreement, bridge note,
revolving credit note, term note and other indebtedness, obligation and liability of the Company (other than the Bridge Notes) under any agreement or contract with any senior creditor, the payment or performance of which is expressly secured by a
security interest in all or substantially all of the assets of the Company (the “Senior Obligations”). For purposes of this note, “subordinate and junior in right of payment” shall mean that no part of the Subordinated
Obligations shall have any claim to the Company’s assets on a parity with or prior to the claim of the Senior Obligations. From and after the date of receipt of notice from any senior creditor of any default with respect to any of the Senior
Obligations, Holder shall not ask for, demand, sue for, take or receive any payments with respect to all or any part of the Subordinated Obligations or any security therefor, whether from the Company or any other source, unless and until the Senior
Obligations have been paid in full. Holder further agrees that upon any distribution of money or assets, or readjustment of the indebtedness of the Company whether by reason of foreclosure, liquidation, composition, bankruptcy, arrangement,
receivership, assignment for the benefit of creditors or any other action or proceeding involving the Subordinated Obligations, or the application of the assets of the Company to the payment or liquidation thereof, the Senior Creditors shall be
entitled to receive payment in full in cash of all of the Senior Obligations prior to the payment of any part of the Subordinated Obligations. 

  

	6.	Assignment. The rights and obligations of the Company and the Holder of this Note shall be binding upon and benefit the successors, assigns, heirs,
administrators and transferees of the parties. 

  

	7.	Waiver and Amendment. Any provision of this Note may be amended, waived or modified upon the written consent of the Company and the Holder or the Majority
Holders. The Holder agrees to be bound by any waivers or amendments approved by the Majority Holders, irrespective of whether the Holder consents to such waiver or amendment. However, any waiver or amendment that adversely affects the Holder in a
manner different from all other holders of Bridge Notes shall require the consent of such Holder. No waiver by any party of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not, shall be deemed to
extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights arising because of any prior or subsequent such occurrence. 

 

	8.	Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given (a) upon personal delivery to the party to be
notified, (b) when sent by confirmed telex or facsimile (provided that notice is also given under clause (c) below) if sent during normal business hours of the recipient; if not sent during normal business hours of the recipient, then on
the next business day, or (c) upon receipt by the party to be notified by nationally recognized overnight courier service. All communications shall be sent to the party at the address as set forth herein or at such other address as such party
may designate by ten (10) days advance written notice to the other party hereto. 

  

	9.	Governing Law; Waiver of Jury Trial. This Note shall be governed by and construed in accordance with the laws of the state of Oregon, exclusive of conflicts of
law provisions. IN THE EVENT OF ANY DISPUTE AMONG OR BETWEEN ANY OF THE PARTIES TO THIS NOTE ARISING OUT OF THE TERMS OF THIS NOTE, THE PARTIES HEREBY CONSENT TO THE EXCLUSIVE JURISDICTION OF THE COURTS LOCATED IN THE COUNTY OF MULTNOMAH, STATE OF
OREGON, OR THE UNITED STATES DISTRICT COURTS FOR THE DISTRICT OF OREGON FOR RESOLUTION OF SUCH DISPUTE, AND AGREE NOT TO CONTEST SUCH EXCLUSIVE JURISDICTION OR SEEK TO TRANSFER ANY ACTION RELATING TO SUCH DISPUTE TO ANY OTHER JURISDICTION. THE
COMPANY AND THE HOLDER AGREE TO ACCEPT SERVICE OF PROCESS PURSUANT TO THE PROCEDURES SET FORTH IN SECTION 8. THE PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS NOTE.

  

	10.	Heading; References. All headings used herein are used for convenience only and shall 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) 

  
 4 

 IN WITNESS WHEREOF, each of the Company and Holder has executed this Subordinated Unsecured
Convertible Promissory Note as of the date first above written. 
  

	
	BIOJECT MEDICAL TECHNOLOGIES INC.
	
	By                             
                                         
                           
	Name:                             
                                         
                    
	Title:                            
                                         
                       
	

 Holder: 
  

	
	  

	Name:                             
                                         
                    
	Address:                            
                                         
                 
	  

	  

  
 5Form of Registration Rights Agreement

 Exhibit 10.4 
 FORM OF REGISTRATION RIGHTS AGREEMENT 
 This Registration Rights Agreement
(the “Agreement”) dated as of June 29, 2011, is entered into by and between Bioject Medical Technologies Inc. (the “Company”) and the parties listed on Exhibit A hereto (“Noteholders”).

  

	A.	The Company has issued to each Noteholder one or more warrants to purchase common stock (the “Warrants”) and a convertible promissory note (the
“Note”) pursuant to a Convertible Note Purchase and Warrant Agreement of even date herewith. 

  

	B.	The Company wishes Noteholders to have piggyback registration rights with regard to Common Stock of the Company that Noteholders may acquire upon exercise of the
Warrants and conversion of the Note pursuant to Section 4.1.1 thereof (such Common Stock being the “Registrable Securities”). 

 In consideration of the mutual covenants contained herein and other good and valuable consideration, the Company and Noteholders agree as follows: 

 

	1.	Piggyback Registration. 

  

	 	a.	If the Company at any time proposes to register any of its shares of Common Stock under the Securities Act of 1933, as amended (the “Securities Act”)
(other than a registration effected solely to implement an employee benefit plan, or a merger, acquisition, or exchange offer to which Rule 145 promulgated under the Securities Act is applicable), whether or not for sale for its own account, it
shall give prompt written notice to Noteholders of each such intended registration by the Company and each Noteholder shall be entitled to request that the Company include in any such registration any number of shares of Registrable Securities then
owned by Noteholder (“Written Request”), subject to the limitations set forth in Section 2(a) hereof. 

  

	 	b.	Upon the Written Request of a Noteholder, made within ten days after the giving by the Company of any such notice of intention to register any of its shares of its
Common Stock, the Company shall use its best efforts to effect the registration under the Securities Act of all shares of Registrable Securities which the Company has been so requested to register by the Noteholder (subject to the restrictions set
forth in Section 2(a) hereof); provided, however, that (i) if at any time after giving written notice of its intention to register any securities and prior to the effective date of the registration statement filed in
connection with such registration, the Company shall determine for any reason not to register such Registrable Securities, the Company may, at its election, give written notice of such determination to Noteholders and, thereupon, shall be relieved
of its obligation to register any shares of Registrable Securities on behalf of Noteholders in connection with such registration (but not from its obligation to pay the Registration Expenses (as hereinafter defined) in connection therewith), and
(ii) if such registration involves an underwritten offering, Noteholders shall sell its shares of Registrable Securities to the underwriters selected by the Company on the same terms and conditions as apply to the Company.

  

	2.	General Provisions. 

  

	 	a.	If a registration involves an underwritten offering and the managing underwriter advises the Company in writing that, in its opinion, the number of securities requested
to be included in such registration exceeds the number which can be sold in such offering, then the number of shares of securities that may be included in the registration and underwriting, if any, shall be allocated among such holders as follows:

	 	i.	If the registration is initiated by the Company, the number of shares that may be included in the registration and underwriting shall be allocated first to the Company
and then, subject to obligations and commitments existing as of the date hereof, to all selling shareholders exercising registration rights under this Agreement or another agreement who have requested to sell in the registration on a pro rata basis
according to the number of shares requested to be included; and 

  

	 	ii.	If the registration is initiated by the exercise of demand registration rights by a shareholder or shareholders of the Company, then the number of shares that may be
included in the registration and underwriting shall be allocated first to such selling shareholders who exercised such demand and then, subject to obligations and commitments to all other selling shareholders who have requested to sell in the
registration, on a pro rata basis according to the number of shares requested to be included. 

  

	 	b.	Noteholders shall furnish the Company such information regarding such holder and the distribution of its shares of Registrable Securities as the Company may from time
to time reasonably request in writing in connection with the registration statement (and the prospectus contained therein). 

  

	 	c.	The Company shall have the right to designate the managing underwriter in any underwritten offering. 

 

	 	d.	All expenses incident to all registration and filing fees, fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements
of counsel in connection with blue sky qualifications of the shares of Common Stock), rating agency fees, printing expenses, messenger and delivery expenses, the fees and expenses incurred in connection with the listing of the securities to be
registered on securities exchanges or NASDAQ, fees and disbursements of counsel for the Company and its independent certified public accountants, fees and disbursements of one counsel to all of the selling shareholders exercising registration rights
under this Agreement or another agreement (such counsel to be selected by such selling shareholders selling a majority of the shares sold by all of such selling shareholders and such fees and disbursements of such counsel not exceeding $10,000), the
reasonable fees and expenses of any special experts retained by the Company in connection with such registration and the fees and expenses of other persons retained by the Company (all such expenses being herein called “Registration
Expenses”), will be borne by the Company. Except as provided above, the Company will not have any responsibility for any of the expenses of Noteholders incurred in connection with any registration hereunder, including, without limitation,
underwriting discounts or commissions attributable to the sale of shares of Registrable Securities and counsel fees for Noteholders. 

  

					
	e.	  	i.	    	In connection with any registration of shares of Registrable Securities of Noteholders pursuant to Section 1 hereof, the Company agrees to indemnify, to the full extent
permitted by law, Noteholders against all losses, claims, damages, liabilities and expenses (including attorneys’ fees and disbursements) caused by any untrue or alleged untrue statement of a material fact contained in any registration
statement, prospectus, or preliminary prospectus or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading, except insofar as the same are caused by or contained in any information with respect to Noteholders furnished in writing to the Company by Noteholders expressly for use therein or by Noteholders’ failure to deliver to a
prospective shareholder a copy of the registration statement or prospectus or any amendments or supplements thereto after the Company has furnished Noteholders with a sufficient number of copies of the same.

	 	

  
 2 

	 	ii.	In connection with any registration in which Noteholders are participating, each Noteholder will furnish to the Company in writing such information with respect to it
as the Company reasonably requests for use in connection with any such registration statement, prospectus or preliminary prospectus and agrees to indemnify, to the full extent permitted by law, the Company, its directors and officers and each person
who controls the Company (within the meaning of the Securities Act), and, in connection with an underwritten offering, each underwriter and each person who controls the underwriters (within the meaning of the Securities Act) against any losses,
claims, damages, liabilities and expenses (including attorneys’ fees and disbursements) caused by any untrue or alleged untrue statement of a material fact contained in any registration statement, prospectus or preliminary prospectus or any
omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, to the extent, but only to the extent,
that such untrue statement or omission is contained in any information with respect to Noteholder so furnished in writing by Noteholder expressly for use therein. This indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of the shareholders, or any such director, officer, partner, underwriter or controlling person and shall survive the transfer of such shares by the Noteholder. 

 

	 	iii.	Any person entitled to indemnification hereunder agrees to give prompt written notice to the indemnifying party after the receipt by such person of any written notice
of the commencement of any action, suit, proceeding or investigation or threat thereof made in writing for which such person will claim indemnification or contribution pursuant to this Agreement and, unless a conflict of interest exists between such
indemnified party and the indemnifying party with respect to such claim, permit the indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to such indemnified party. If the indemnifying party is not entitled to,
or elects not to, assume the defense of a claim, it will not be obligated to pay the fees and expenses of more than one counsel with respect to such claim, unless a conflict of interest exists between such indemnified party and any other of such
indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay the fees and expenses of such additional counsel or counsels. The indemnifying party will not be subject to any liability for any
settlement made without its consent. 

  

	 	iv.	If the indemnification provided for in this Section 2(e) from the indemnifying party is unavailable to an indemnified party hereunder in respect of any losses,
claims, damages, liabilities, or expenses referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims,
damages, liabilities, or expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and indemnified parties in connection with the actions which resulted in such losses, claims, damages, liabilities, or
expenses, as well as any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified parties shall be determined by reference to, among other things, whether any action in question, including any untrue or
alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made by, or relates to information supplied by, such indemnifying party or indemnified parties, and the parties’ relative intent,
knowledge, access to information, and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the losses, claims, damages, liabilities, and expenses referred to above shall be deemed to include, subject to
the limitations set forth in Section 2(e)(iii) hereof, any legal or other fees or expenses reasonably incurred by such party in connection with any investigation or proceeding. 

  
 3 

	 	v.	The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 2(e)(iv) were determined by pro rata allocation or
by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. If indemnification is available under this Section 2(e), the indemnifying parties shall indemnify the indemnified party
to the full extent provided in Sections 2(e)(i) and 2(e)(ii) hereof without regard to the relative fault of said indemnifying party or indemnified party or any other equitable consideration provided for in this Section 2(e)(iv).

  

	 	f.	The Company will use its best efforts to timely file with the Securities and Exchange Commission (the “SEC”) such information as the SEC may require
under either of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company shall use its best efforts to take all action as may be required as a condition to the
availability of Rule 144 under the Securities Act (or any successor exemptive rule hereinafter in effect) with respect to shares of Registrable Securities. The Company shall furnish to Noteholders forthwith upon request (i) a written statement
by the Company as to its compliance with the reporting requirements of Rule 144, (ii) a copy of the most recent annual or quarterly report of the Company as filed with the SEC, and (iii) such other reports and documents as Noteholders may
reasonably request in availing itself of any rule or regulation of the SEC allowing Noteholders to sell any shares of Registrable Securities without registration. 

 

	 	g.	Noteholders shall not have any right to take any action to restrain, enjoin or otherwise delay enjoin or otherwise delay any registration as the result of any
controversy that might arise with respect to the interpretation or implementation of Section 1. 

  

	 	h.	In consideration for the Company’s agreeing to its obligations under Section 1, Noteholders agrees, in connection with any registration of the Company’s
securities in a firm commitment underwriting, upon the request of the Company or the underwriters managing such underwriting, not to sell, make any short sale of, loan, grant any option for the purchase of or otherwise dispose of any Registrable
Securities (other than those included in the registration) without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed 180 days) after the effective date of such registration as
the Company or the underwriters may specify, provided that each officer, director and 10% shareholder of the Company shall make the same agreement with respect to other securities of the Company then held by such other person (other than those
included in the registration). In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to the securities of the Noteholders (and the shares of every person subject to the foregoing restriction)
until the end of such period. 

  

	 	i.	Noteholders shall not be entitled to exercise any right provided for in Section 1 after the earlier of (i) the fourth anniversary of the of this Agreement or
(ii) such time at which all Registrable Securities held by Noteholders can be sold in any three-month period without registration in compliance with Rule 144 of the Securities Act. The Company is not obligated to register any securities
pursuant to Section 1 to the extent such securities may be sold without registration in compliance with Rule 144 of the Act. 

  

	3.	Miscellaneous. 

  

	 	a.	All notices or demands shall be in writing and shall be delivered personally, electronically, or by express, certified or registered mail or by private overnight
express mail service. Delivery shall be deemed conclusively made: (i) at the time of delivery if personally delivered, (ii) immediately in the event notice is delivered by confirmed facsimile, (iii) 24 hours after delivery to the
carrier if served by any private, overnight express mail service, (iv) 24 hours after deposit thereof in the United States mail, properly addressed and postage prepaid, return receipt requested, if served by express mail, or (v) 5 days
after deposit thereof in the United States mail, properly addressed and postage prepaid, return receipt requested, if served by certified or registered mail. 

  
 4 

 Any notice or demand to the Company shall be given to: 

Bioject Medical Technologies Inc. 
 20245 S.W. 95th Avenue 
 Tualatin, OR 97062 

Attention: Chief Executive Officer 
 Facsimile: 503-692-6698 
 Any notice or demand to Noteholders shall be given to
the address listed on the signature pages hereto. Any party may, by virtue of written notice in compliance with this paragraph, alter or change the address or the identity of the person to whom any notice, or copy thereof, is to be delivered.

  

	 	b.	The Company and Noteholders shall each execute and deliver all such further instruments, documents and papers, and shall perform any and all acts necessary, to give
full force and effect to all of the terms and provisions of this Agreement. 

  

	 	c.	Any provision of this Agreement may be amended, waived or modified upon the written consent of the Company and an individual Noteholder, with respect to that
Noteholder, or the Noteholders holding a majority of the Registrable Securities under this Agreement or, prior to the conversion of the Notes, the holders of a majority of the outstanding principal amount of the Notes (the “Majority
Holders”). Each Noteholder agrees to be bound by any waivers or amendments approved by the Majority Holders, irrespective of whether the Noteholder consents to such waiver or amendment. However, any waiver or amendment that adversely
affects the Noteholder in a manner different from all the other Noteholder shall require the consent of such Noteholder. No waiver by any party of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or
not, shall be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights arising because of any prior or subsequent such occurrence. 

 

	 	d.	This Agreement shall inure to the benefit of and be binding upon the parties hereto and their successors and assigns; provided that no Noteholder shall not assign this
Agreement or its rights hereunder without the prior written consent of the Company, which consent will not be unreasonably withheld. 

  

	 	e.	This Agreement incorporates the entire understanding of the parties and supersedes all previous agreements relating to the subject matter hereof, should they exist.
This Agreement and any issue arising out of or relating to the relationship of the parties hereunder shall be governed by, and construed in accordance with, the laws of the State of Oregon, without regard to principles of conflicts of law. In all
matters of interpretation, whenever necessary to give effect to any provision of this Agreement, each gender shall include the others, the singular shall include the plural, and the plural shall include the singular. The titles of the paragraphs of
this Agreement are for convenience only and shall not in any way affect the interpretation of any provision or condition of this Agreement. 

  

	 	f.	In the event of any litigation or arbitration between the parties hereto respecting or arising out of this Agreement, the prevailing party shall be entitled to recover
reasonable legal fees, whether or not such litigation or arbitration proceeds to final judgment or determination. 

  
 5 

	 	g.	Each party hereto consents specifically to the exclusive jurisdiction of the Circuit Court for the County of Multnomah, State of Oregon and any court to which an appeal
may be taken in connection with any action filed pursuant to this Agreement, for the purposes of all legal proceedings arising out of or relating to this Agreement. In connection with the foregoing consent, each party irrevocably waives, to the
fullest extent permitted by law, any objection which it may now or hereafter have to the Court’s exercise of personal jurisdiction over each party to this Agreement or the laying of venue of any such proceeding brought in the Court and any
claim that any such proceeding brought in the Court has been brought in an inconvenient forum. Each party further irrevocably waives its right to a trial by jury and consents that service of process may be effected in any manner permitted under the
laws of the State of Oregon. 

  

	 	h.	If any clause or provision of this Agreement is illegal, invalid or unenforceable under present or future laws effective during the term of this Agreement, the
remainder of this Agreement shall not be affected thereby, and in lieu of each clause or provision of this Agreement that is illegal, invalid or unenforceable, there shall be added a clause or provision as similar in terms and in amount to such
illegal, invalid or unenforceable clause or provision as may be possible and be legal, valid and enforceable, as long as it does not otherwise frustrate the principal purposes of this Agreement. 

(Signature Page Follows) 

  
 6 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

	
	BIOJECT MEDICAL TECHNOLOGIES INC.
	
	By                             
                                         
                           
	Name:                             
                                         
                    
	Title:                            
                                         
                       

 Noteholder: 
  

	
	  

	Name:                             
                                         
                    
	Address:                            
                                         
                 
	  

	  

	  

  
 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}]]