Document:

Fifth Loan Modification Agreement

 Exhibit 10.30 
 EXPLANATORY NOTE: “*” INDICATES THE PORTION OF THIS EXHIBIT THAT HAS BEEN 
 OMITTED AND SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION 
 PURSUANT TO A REQUEST FOR CONFIDENTIAL
TREATMENT. 
 FIFTH LOAN MODIFICATION AGREEMENT 
 This Fifth Loan Modification Agreement (this “Loan Modification Agreement”) is entered into as of February 29, 2008, by and between SILICON VALLEY BANK, a California-chartered bank, with a loan
production office located at 230 W. Monroe, Suite 720, Chicago, Illinois 60606 (“Bank”) and STEREOTAXIS, INC., a Delaware corporation with its chief executive office located at 4320 Forest Park Avenue, Suite 100, St. Louis, Missouri
63108 (“Borrower”). 
 1. DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness and obligations which may be owing
by Borrower to Bank, Borrower is indebted to Bank pursuant to a loan arrangement dated as of April 30, 2004, evidenced by, among other documents, a certain Loan and Security Agreement dated as of April 30, 2004, between Borrower and Bank,
as amended by a First Loan Modification Agreement dated as of November 3, 2004, between Borrower and Bank, as amended by a Second Loan Modification Agreement dated as of November 8, 2005, between Borrower and Bank, as amended by a Third
Loan Modification Agreement dated as of March 12, 2007, between Borrower and Bank, and as further amended by a Fourth Loan Modification Agreement dated as of December 26, 2007, between Borrower and Bank (as amended, the “Loan
Agreement”). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan Agreement. 
 2. DESCRIPTION OF
COLLATERAL. Repayment of the Obligations is secured by the Collateral as described in the Loan Agreement (together with any other collateral security granted to Bank, the “Security Documents”). 
 Hereinafter, the Security Documents, together with all other documents evidencing or securing the Obligations shall be referred to as the “Existing Loan
Documents”. 
  

	3.	DESCRIPTION OF CHANGE IN TERMS. 

  

	 	A.	Modifications to Loan Agreement. 

  

	 	1.	The Loan Agreement shall be amended by deleting the following subsection (c) appearing in Section 2.1.1 thereof: 

 “(c) Interest Rate. The principal amounts outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to
the aggregate of the Prime Rate, and three-quarters of one percent (.75%); provided, however, if Borrower maintains an Adjusted Quick Ratio equal to or greater than 1.75 to 1.0 at all times during any calendar month, then commencing on the first
calendar day following such calendar month, the interest rate shall be reduced to a floating per annum rate equal to the aggregate of the Prime Rate and one-quarter of one percent (.25%) for such calendar month and for each calendar month thereafter
in which Borrower’s Adjusted Quick Ratio is equal to or greater than 1.75 to 1.0 at all times.” 
 and inserting in lieu thereof
the following: 

 “(c) Interest Rate. The principal amounts outstanding under the Revolving Line shall accrue
interest at a floating per annum rate equal to the aggregate of the Prime Rate, and three-quarters of one percent (.75%); provided, however, if Borrower maintains an Adjusted Quick Ratio equal to or greater than 1.75 to 1.0 at all times during any
calendar month, then commencing on the first calendar day following such calendar month, the interest rate shall be reduced to a floating per annum rate equal to the aggregate of the Prime Rate and one-quarter of one percent (.25%) for such calendar
month and for each calendar month thereafter in which Borrower’s Adjusted Quick Ratio is equal to or greater than 1.75 to 1.0 at all times. Notwithstanding the foregoing, commencing on the 2008 Closing Date the principal amounts outstanding
under the Revolving Line shall accrue interest at a floating per annum rate equal to the greater of: (i) the aggregate of the Prime Rate and one percent (1.0%), and (ii) seven percent (7.0%).” 
  

	 	2.	The Loan Agreement shall be amended by inserting the following new provision to appear as Section 2.1.4.5: 

 “2.1.4.5 Guaranteed Line.” 
 (a) Availability. Subject to the terms of this Agreement, Bank shall make Guaranteed Advances not exceeding the Guaranteed Line. Each Guaranteed Advance must be in an amount equal to at least One Million
Dollars ($1,000,000). The Borrower may not make any principal repayments under the Guaranteed Line without the prior written consent of the Bank. Amounts repaid pursuant to the foregoing may be reborrowed prior to the Guaranteed Line Maturity Date.
In the event that any principal payments are made toward the Guaranteed Line without the prior written consent of the Bank, the Bank may re-advance such amounts hereunder as if such repayment had not been made. 
 (b) Borrowing Procedure. Subject to the prior satisfaction of all other applicable conditions to the making of the Guaranteed
Advance, set forth in this Agreement, including without limitation, Section 3.2(c), to obtain a Guaranteed Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 3:00 pm Eastern
time twenty-one (21) Business Days before the day on which the Guaranteed Advance is to be made. Together with any such electronic or facsimile notification, Borrower shall deliver to Bank: (i) by electronic mail or facsimile a completed
Payment/Advance Form executed by a Responsible Officer or his or her designee, (ii) each of the Guaranteed Line Closing Deliverables, and (iii) the Guaranteed Line Fee. Bank may rely on any telephone notice given by a person whom Bank
believes is a Responsible Officer or designee. Bank shall credit the Guaranteed Advances to the Borrower’s deposit account. 
 (c) Interest Rate. Subjection to Section 2.3(a), the principal amounts outstanding under the Guaranteed Line shall accrue interest at a floating per annum rate equal to the greater of: (i) the Prime Rate, and (ii) six
percent (6.0%). 
 (d) Termination; Repayment. The Guaranteed Line terminates on the Guaranteed Line Maturity Date,
when the principal amount of the Guaranteed Advances, the unpaid interest thereon, and all other Obligations relating to the Guaranteed Line shall be immediately due and payable.” 
  

	 	3.	The Loan Agreement shall be amended by deleting the following provision appearing as Section 2.2 thereof: 

  

 “2.2 Overadvances. If, at any time, the Credit Extensions under Sections 2.1.1,
2.1.2, 2.1.3 and 2.1.4 exceed the lesser of either (i) the Revolving Line or (ii) the aggregate of (A) the Borrowing Base, plus (B) the Permitted Overadvances, Borrower shall immediately pay to Bank in cash such excess.”

 and inserting in lieu thereof the following: 
 “2.2 Overadvances. If, at any time, the Credit Extensions under Sections 2.1.1, 2.1.2, 2.1.3, and 2.1.4 exceed the lesser of either (i) the Revolving Line or (ii) the Borrowing Base,
Borrower shall immediately pay to Bank in cash such excess (or cash secure any Contingent Obligations pursuant to Section 2.1.2, 2.1.3, and 2.1.4.). In addition, the total Credit Extensions outstanding at any time shall not exceed Thirty
Million Dollars ($30,000,000).” 
  

	 	4.	The Loan Agreement shall be amended by inserting the following text to appear at the end of Section 2.3(b) thereof: 

 “ In addition, Bank shall be entitled to charge Borrower a “float” charge in an amount equal to one (1) Business Days interest, at
the interest rate applicable to the Credit Extensions, on all payments received by Bank. The float charge for each month shall be payable on the last day of the month. Bank shall not, however, be required to credit Borrower’s account for the
amount of any item of payment which is unsatisfactory to Bank in its good faith business judgment, and Bank may charge Borrower’s deposit account for the amount of any item of payment which is returned to Bank unpaid.” 
  

	 	5.	The Loan Agreement shall be amended by deleting the following provision appearing as Section 2.4(g) thereof: 

 “(g) Unused Revolving Line Facility Fee. In addition to the foregoing, as compensation for Bank’s maintenance of sufficient funds
available for such purpose, Bank shall have earned a fee (the “Unused Revolving Line Facility Fee”), which fee shall be paid quarterly, in arrears, on a calendar year basis, in an amount equal to 0.375% per annum of the average unused
portion of the Revolving Line, as determined by Bank. Borrower shall not be entitled to any credit, rebate or repayment of any Unused Revolving Line Facility Fee previously earned by Bank pursuant to this Section notwithstanding any termination of
the within Agreement, or suspension or termination of Bank’s obligation to make loans and advances hereunder.” 
 and inserting in
lieu thereof the following: 
 “(g) Unused Revolving Line Facility Fee. In addition to the foregoing, as compensation for
Bank’s maintenance of sufficient funds available for such purpose, Bank shall have earned a fee (the “Unused Revolving Line Facility Fee”), which fee shall be paid quarterly, in arrears, on a calendar year basis, in an amount equal to
0.50% per annum of the average unused portion of the Revolving Line, as determined by Bank. Borrower shall not be entitled to any credit, rebate or repayment of any Unused Revolving Line Facility Fee previously earned by Bank pursuant to this
Section notwithstanding any termination of the within Agreement, or suspension or termination of Bank’s obligation to make loans and advances hereunder.” 
  

	 	6.	The Loan Agreement shall be amended by inserting the following new provisions to appear as subsections (h), and (i) of Section 2.4 entitled “Fees”:

 “(h) Collateral Handling Fee. Borrower will pay to Bank a collateral handling fee equal to One Thousand Dollars
($1,000) per month, which fee shall be paid monthly, in arrears, on the first calendar day of each month (the “Collateral Handling Fee”); and 
  

 (i) Guaranteed Line Fee. The Guaranteed Line Fee, when due hereunder.” 
  

	 	7.	The Loan Agreement shall be amended by inserting the following new provision to appear as Section 3.2(c) thereof: 

 “(c) for each Guaranteed Advance, receipt by Bank of: (i) the Guaranteed Line Closing Deliverables, in form and substance satisfactory to Bank,
and (ii) the Guaranteed Line Fee.” 
  

	 	8.	The Loan Agreement shall be amended by deleting the following provision appearing as Section 6.2(d) thereof: 

 “(d) Allow Bank to audit Borrower’s Collateral at Borrower’s expense. Such audits shall be conducted no more often than once every twelve
(12) months unless an Event of Default has occurred and is continuing. 
 and inserting in lieu thereof the following: 
 “(d) Allow Bank to audit Borrower’s Collateral at Borrower’s expense. Such audits shall be conducted no more often than twice every twelve
(12) months unless a Default or an Event of Default has occurred and is continuing. The charge for each audit shall not exceed Seven Hundred Fifty Dollars ($750.00) (or such higher amount as shall represent Bank’s then-current standard
charge for the same), per person, plus out of pocket expenses.” 
  

	 	9.	The Loan Agreement shall be amended by inserting the following to appear at the end of Section 6.2 thereof: 

 “Notwithstanding the foregoing, in the event that the sum of unrestricted cash at Bank plus the Availability Amount is less than Ten Million
Dollars ($10,000,000)): (i) Borrower shall be required to provide Bank with a Transaction Report (and any schedules related thereto) on a weekly basis; and (ii) all proceeds collected in the Lockbox shall be applied to all outstanding
Obligations on a daily basis, in accordance with the term of this Agreement. In addition to the foregoing, commencing on the first day of the month, following the month in which Borrower provides Bank with evidence that it has maintained
unrestricted cash at Bank plus the Availability Amount in an amount equal to Ten Million Dollars ($10,000,000) for a period of forty-five (45) consecutive days, Borrower shall be required to provide Bank with a monthly Borrowing Base
Certificate as set forth in Section 6.2(b) above.” 
  

	 	10.	The Loan Agreement shall be amended by deleting Section 6.7 entitled “Financial Covenants” in its entirety and inserting in lieu thereof there following:

 “6.7 Financial Covenants. Borrower shall maintain at all times, to be tested as of the last day of each month,
unless otherwise noted: 
 (a) Tangible Net Worth. Borrower shall maintain a Tangible Net Worth of at least
(i) $* for *and (ii) (A) $* for *; (B) $* for *; (C) $* for *; (D) $* (E) * for *; (F) $* for *; (G) * for * and (H) * for *.” 
  

	 	11.	The Loan Agreement shall be amended by inserting the following new provision to appear as Section 6.9 thereof: 

 “6.9 Guarantor Liquidity. At all times, Guarantor shall have Callable Capital in an aggregate amount of at least two (2) times Guarantor
Obligations, tested on a quarterly basis. 
  

	 	12.	The Loan Agreement shall be amended by deleting the following definitions appearing in Section 13.1 thereof: 

 “Borrowing Base” is (i) eighty percent (80.0%) of Eligible Accounts plus (ii) eighty percent (80.0%) of Eligible
Foreign Accounts (which percentage shall be reduced to forty-percent (40.0%) for any period in which Borrower’s Adjusted Quick Ratio is less than 1.75 to 1.0 ), plus (iii) the lesser of forty percent (40.0%) of the value of
Borrower’s Eligible Inventory (valued at the lower of cost or wholesale fair market value) or fifty percent (50.0%) of the aggregate Eligible Accounts and Eligible Foreign Accounts as determined by Bank from Borrower’s most recent
Borrowing Base Certificate; provided, however, that Bank may lower the percentage of the Borrowing Base after performing an audit of Borrower’s Collateral.” 
 “Credit Extensions” is each Advance, Equipment Advance, 2005 Equipment Advance, 2007 Equipment Advance, Letter of Credit, F/X Forward Contract, or any other extension of credit by Bank for
Borrower’s benefit.” 
 “Guarantor” is any present or future guarantor of the Obligations. 
 ““Revolving Maturity Date” is March 10, 2009. 
 “Revolving Line” is an Advance or Advances of up to Twenty-Five Million Dollars ($25,000,000.00) (including Permitted Overadvances) outstanding at any time.” 
 “Tangible Net Worth” is, on any date, the consolidated total assets of Borrower and its Subsidiaries minus (i) any amounts
attributable to (a) goodwill, (b) intangible items including unamortized debt discount and expense, patents, trade and service marks and names, copyrights and research and development expenses except prepaid expenses, and (c) reserves
not already deducted from assets, minus (ii) Total Liabilities, plus (iii) Subordinated Debt.” 
 and inserting
in lieu thereof the following: 
 “Borrowing Base” is (i) eighty percent (80.0%) of Eligible Accounts plus
(ii) seventy percent (70.0%) of Eligible Foreign Accounts (which percentage shall be reduced to forty-percent (40.0%) for any period in which Borrower’s Adjusted Quick Ratio is less than 1.75 to 1.0 ), plus (iii) the lesser
of forty percent (40.0%) of the value of Borrower’s Eligible Inventory (valued at the lower of cost or wholesale fair market value) or fifty percent (50.0%) of the aggregate Eligible Accounts and Eligible Foreign Accounts as
determined by Bank from Borrower’s most recent Borrowing Base Certificate; provided, however, that Bank may lower the percentage of the Borrowing Base after performing an audit of Borrower’s Collateral. 
 “Credit Extensions” is each Advance, Equipment Advance, 2005 Equipment Advance, 2007 Equipment Advance, Letter of Credit, F/X Forward
Contract, Guaranteed Advance, or any other extension of credit by Bank for Borrower’s benefit. 
 “Guarantor” is any
present or future guarantor of the Obligations, including without limitation, Sanderling Venture Partners VI Co-Investment Fund, L.P., Sanderling Beteiligungs GmbH & Co. KG, Sanderling VI Limited Partnership, and Alafi Capital Company, LLC.

 “Revolving Maturity Date” is March 31, 2009. 

 “Revolving Line” is an Advance or Advances in an aggregate amount of up to Thirty
Million Dollars ($30,000,000.00) outstanding at any time. 
 “Tangible Net Worth” is, on any date, the total assets of
Borrower minus (a) any amounts attributable to (i) goodwill, (ii) intangible items including unamortized debt discount and expense, patents, trade and service marks and names, copyrights and research and development expenses
except prepaid expenses, (iii) notes, accounts capitalized receivable and other obligations owing to Borrower from its officers or other Affiliates, and (iv) reserves not already deducted from assets, minus (b) Total
Liabilities, plus (c) Subordinated Debt, plus without duplication (d) the aggregate amount of outstanding Guaranteed Advances.” 
  

	 	13.	The Loan Agreement shall be amended by inserting the following definitions to appear alphabetically in Section 13.1 thereof: 

 ““2008 Closing Date” is             
    , 2008. 
 “Callable Capital” is the remaining amount of capital, excluding capital
attributable to Defaulting Partners, which Guarantor would be able to obtain from the General Partner and the Limited Partners, without condition, upon proper issuance of capital call notices in accordance with the Partnership Agreement 

“Collateral Handling Fee” is defined in Section 2.4(h). 
 “Defaulting Partner” is the General Partner or any Limited Partner of a Guarantor who has previously failed to comply with any portion
of a capital call made by such Guarantor unless: (i) such failure has been cured, or (ii) such Guarantor has substituted the Defaulting Partner with another partner, in accordance with the Partnership Agreement, who is in compliance with
all of the terms of the Partnership Agreement 
 “General Partner” means the general partner of any Guarantor. 

“Guaranteed Advance” or “Guaranteed Advances” is a loan advance (or advances) under the Guaranteed Line. 

“Guaranteed Line” is a Guaranteed Advance or Guaranteed Advances of up to Ten Million Dollars ($10,000,000). 
 “Guaranteed Line Closing Deliverables” shall mean each of the following, each in a form acceptable to each Guarantor and Bank, for each
Guarantor: (i) Unconditional Guaranty, together with the completed Resolutions for the subject Guaranteed Advance; (ii) Operating Documents; (iii) consolidated balance sheet and income statement covering such Guarantor’s
consolidated operations, together with valuation schedules for such Guarantor’s portfolio companies; (iv) list of Limited Partners; (v) statement of current Callable Capital; and (vi) other financial information reasonably
requested by Bank. 
 “Guaranteed Line Fee” shall be an additional fee payable to Bank in an amount equal to Five Thousand
Dollars ($5,000.00), for each Guaranteed Advance. 
 “Guaranteed Line Maturity Date” is March 31, 2009. 
 “Guarantor Obligations” are the aggregate amount of all of Guarantor’s Indebtedness. 
  

 “Limited Partners” means, for each Guarantor, the limited partners set forth in the
Partnership Agreement for such Guarantor, as the same may be amended from time to time. 
 “Operating Documents” are, for
any Person, such Person’s formation documents, as certified with the Secretary of State of such Person’s state of formation on a date that is no earlier than 30 days prior to the Funding Date, and (a) if such Person is a corporation,
its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar agreement), each
of the foregoing with all current amendments or modifications thereto. “ 
 “Partnership Agreement” means, for each
Guarantor, that certain Limited Partnership Agreement, as amended, by and among the Limited Partners and the General Partner for such Fund. 
 “Transaction Report” is that certain report of transactions and schedule of collections in the form attached hereto as Exhibit C. 
 “Unconditional Guaranty” means that certain unconditional guaranty executed by Guarantor in favor of Bank, in form and substance acceptable to Bank and Guarantor, in the sole discretion of Bank and
such Guarantor.” 
  

	 	14.	The Borrowing Base Certificate appearing as Exhibit C to the Loan Agreement is hereby replaced with the Borrowing Base Certificate attached as Exhibit A hereto.

  

	 	15.	The Compliance Certificate appearing as Exhibit D to the Loan Agreement is hereby replaced with the Compliance Certificate attached as Exhibit B hereto.

 4. FEES. Borrower shall pay to Bank a modification fee equal to One Hundred Fifty Thousand Dollars ($150,000.00), which fee shall be
due on the date hereof and shall be deemed fully earned as of the date hereof. The Borrower shall also reimburse Bank for all legal fees and expenses incurred in connection with this amendment to the Existing Loan Documents. 
 5. APPLICATION OF PAYMENTS AND PROCEEDS. Borrower shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments
required to be made by Borrower to Bank or otherwise received by Bank under this Agreement when any such allocation or application is not specified elsewhere in this Agreement. If an Event of Default has occurred and is continuing, Bank may apply
any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Bank shall
determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If Bank, in its good faith business judgment, directly or indirectly enters
into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the
reduction of the Obligations until the actual receipt by Bank of cash therefor. 
 6. RATIFICATION OF NEGATIVE PLEDGE AGREEMENT. Borrower hereby
ratifies, confirms and reaffirms, all and singular, the terms and conditions of a certain Negative Pledge Agreement dated as of April 30, 2004, between Borrower and Bank, and acknowledges, confirms and agrees that said Negative Pledge
Agreement, shall remain in full force and effect. 
  

 7. RATIFICATION OF PERFECTION CERTIFICATE. Borrower hereby ratifies, confirms and reaffirms, all and singular, the
terms and disclosures contained in a certain Perfection Certificate dated as of April 30, 2004, between Borrower and Bank, and acknowledges, confirms and agrees the disclosures and information Borrower provided to Bank in the Perfection
Certificate has not changed, as of the date hereof. 
 8. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever necessary to
reflect the changes described above. 
 9. RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and reaffirms all terms and conditions
of all security or other collateral granted to the Bank, and confirms that the indebtedness secured thereby includes, without limitation, the Obligations. 
 10. NO DEFENSES OF BORROWER. Borrower hereby acknowledges and agrees that Borrower has no offsets, defenses, claims, or counterclaims against Bank with respect to the Obligations, or otherwise, and that if Borrower now has, or ever
did have, any offsets, defenses, claims, or counterclaims against Bank, whether known or unknown, at law or in equity, all of them are hereby expressly WAIVED and Borrower hereby RELEASES Bank from any liability thereunder. 
 11. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the existing Obligations, Bank is relying upon Borrower’s representations,
warranties, and agreements, as set forth in the Existing Loan Documents. Except as expressly modified pursuant to this Loan Modification Agreement, the terms of the Existing Loan Documents remain unchanged and in full force and effect. Bank’s
agreement to modifications to the existing Obligations pursuant to this Loan Modification Agreement in no way shall obligate Bank to make any future modifications to the Obligations. Nothing in this Loan Modification Agreement shall constitute a
satisfaction of the Obligations. It is the intention of Bank and Borrower to retain as liable parties all makers of Existing Loan Documents, unless the party is expressly released by Bank in writing. No maker will be released by virtue of this Loan
Modification Agreement. 
 12. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective only when it shall have been executed by
Borrower and Bank 
 [The remainder of this page is intentionally left blank] 
  

 This Loan Modification Agreement is executed as of the date first written above. 
  

									
	BORROWER:	 		 	BANK:
			
	STEREOTAXIS, INC.	 		 	SILICON VALLEY BANK
					
	By:	 	 /s/ James M. Stolze
	 		 	By:	 	 /s/ Michael Kohnen

	Name:	 	James M. Stolze	 		 	Name:	 	Michael Kohnen
	Title:	 	V.P. and CFO	 		 	Title:	 	Deal Team Leader

 EXHIBIT A 
 BORROWING BASE CERTIFICATE 
  
  

					
	Borrower:	 	    Stereotaxis, Inc.
	Lender:	 	    Silicon Valley Bank
	Commitment Amount:     $30,000,000.00

  
  

					
	ACCOUNTS RECEIVABLE
	1.	  	Accounts Receivable Book Value as of                         
	  	$                            
	2.	  	Additions (please explain on reverse)	  	$                            
	3.	  	TOTAL ACCOUNTS RECEIVABLE	  	$                            
		
	ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication)	  	
	4.	  	Amounts over 120 days due	  	$                            
	5.	  	Siemens accounts over 180 days due and are 60 day past due	  	
	6.	  	Balance of 50% over 120 day accounts (except Siemens accounts over 180 days due and are 60 day past due)	  	$                            
	7.	  	Credit balances over 90 days	  	$                            
	8.	  	Concentration Limits (in excess of $2,000,000.00 for individual account debtors, except Siemens in excess of $3,000,000.00)	  	$                            
	9.	  	Foreign Accounts	  	
	10.	  	Governmental Accounts	  	$                            
	11.	  	Contra Accounts	  	$                            
	12.	  	Promotion or Demo Accounts	  	$                            
	13.	  	Intercompany/Employee Accounts	  	$                            
	14.	  	Other (please explain on reverse)	  	$                            
	15.	  	TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS	  	$                            
	16.	  	Eligible Accounts (#3 minus #15)	  	$                            
	17.	  	LOAN VALUE OF ACCOUNTS ( 80% of #16)	  	$                            
		
	ELIGIBLE FOREIGN ACCOUNTS	  	
	18.	  	Eligible Foreign Accounts	  	$                            
	19.	  	LOAN VALUE OF ELIGIBLE FOREIGN ACCOUNTS (70% of #18, which shall be reduced to 40% of #18, if AQR <1.75: 1.0)	  	$                            
		
	INVENTORY	  	
	20.	  	Inventory Value as of                         	  	$                            
	21.	  	LOAN VALUE OF INVENTORY (lesser of 40% of #20 or 50% of #17 plus #19)	  	$                            
		
	BALANCES	  	
	22.	  	Maximum Loan Amount	  	$                            
	23.	  	Total Funds Available (Lesser of #22 or (#17 plus #19 and #21)	  	$                            
	24.	  	Present balance owing on Line of Credit	  	$                            
	25.	  	Outstanding under Sublimits (L/C, FX Contract, Cash Mgt. )	  	$                            
	26.	  	RESERVE POSITION (#23 minus #24 and #25)	  	$                            

 The undersigned represents and warrants that this is true, complete and correct, and that the information in
this Borrowing Base Certificate complies with the representations and warranties in the Loan and Security Agreement between the undersigned and Silicon Valley Bank. 

											
		  		  		 	BANK USE ONLY
			
	COMMENTS:	 	Received by:	  	  

	By:	  	  
	  		 		  	 AUTHORIZED SIGNER

		  	 AuthorizedSigner
	  		 	Date:	  	  

		  		  		 	Verified:	  	  

		  		  		 		  	 AUTHORIZED SIGNER

		  		  		 	Date:	  	  

		  		  		 	Compliance Status:	 	 Yes         No

  

 EXHIBIT B 
 COMPLIANCE CERTIFICATE 
 TO: SILICON VALLEY BANK 
 FROM: STEREOTAXIS, INC. 
 The undersigned authorized officer of Stereotaxis, Inc., (“Responsible
Officer”) certifies that under the terms and conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance for the period ending _______________ with all
required covenants except as noted below and (ii) all representations and warranties in the Agreement are true and correct in all material respects on this date. Attached are the required documents supporting the certification. The Responsible
Officer certifies that these are prepared in accordance with Generally Accepted Accounting Principles (GAAP) consistently applied from one period to the next except as explained in an accompanying letter or footnotes. The Responsible Officer
acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered.

  

									
	 Please indicate compliance status by circling Yes/No under “Complies” column.

				
	 Reporting Covenant
	  	 Required
	  	 	  	Complies
	 Monthly financial statements with CC
	  	Monthly within 30 days	  		  	Yes	  	No
	 Annual (CPA Audited) with CC
	  	FYE within 120 days	  		  	Yes	  	No
	 Inventory Report
	  	Monthly within 30 days	  		  	Yes	  	No
	 BBC A/R Agings
	  	Monthly within 30 days	  		  	Yes	  	No
	 Audit
	  	Annually	  		  	Yes	  	No
	 Bookings/Backlog Report
	  	Monthly within 30 days	  		  	Yes	  	No
	 Cash Balance/GAAP Balances (at Abn Ambro)
	  	Monthly within 30 days	  		  	Yes	  	No
				
	 Financial Covenant
	  	 Required
	  	Actual	  	Complies
	 Maintain on a Monthly Basis:
	  		  		  		  	
	 Tangible Net Worth
	  	$                    *	  		  		  	

  

	*	As set forth in Section 6.9(a) of the Agreement. 

  

											
	Comments Regarding Exceptions: See Attached.	  	BANK USE ONLY
	Sincerely, 	  		  	
		  		  	Received by:	  	  
	  	
	  
	  		  		  	 AUTHORIZED SIGNER
	  	
	SIGNATURE 	  		  	Date:	  	  
	  	
	  
	  		  	Verified:	  	  
	  	
	TITLE	  		  		  	 AUTHORIZED SIGNER
	  	
	  
	  		  	Date:	  	  
	  	
	Date	  		  	Compliance Status:	 	 Yes         No
	  	

 EXHIBIT C 
 TRANSACTION REPORT 
 [TO BE PREPARED BY BANK]Note and Warrant Purchase Agreement

 Exhibit 10.31 
 STEREOTAXIS, INC. 
 NOTE AND WARRANT PURCHASE AGREEMENT 
 THIS NOTE AND WARRANT PURCHASE AGREEMENT (this “Agreement”) is executed on February 21, 2008, but effective as of February 7,
2008, by and among Stereotaxis, Inc., a Delaware corporation (the “Company”), Sanderling Venture Partners VI Co-Investment Fund, L.P., Sanderling VI Beteiligungs GmbH & Co KG, Sanderling VI Limited Partnership and Alafi
Capital Company LLC (each, a “Lender” and together, the “Lenders”). 
 Recitals 
  

	 	A.	The Company wishes to obtain a commitment for additional financing which would allow the Company to draw funds as needed; 

  

	 	B.	The Lenders wish to provide such commitment to the Company; 

  

	 	C.	The Company and the Lenders have executed a binding commitment (the “Commitment”) and desire to document such Commitment with this Agreement; and 

 

	 	D.	In consideration of the above and the mutual covenants hereinafter set forth, the Company and the Lenders desire to agree on the terms of the Notes to be issued upon execution of
this Agreement, and accordingly agree as follows: 

 1. The Notes. 
 1.1 The Notes. Each Lender is hereby committing, severally and not jointly, to make available to the Company up to an aggregate original principal
amount as set forth opposite such Lender’s name on the attached Schedule 1.1 (the “Committed Funds”) during the Commitment Period, as defined in Section 1.2. Subject to and upon the terms and conditions set forth
herein, and upon each draw by the Company and advance of funds by the Lenders (in an amount from each Lender equal to such Lender’s pro rata portion of the aggregate Committed Funds, unless otherwise agreed to in writing by the Company and each
Lender) as set forth in Section 1.3, the Company shall issue and sell to each Lender, and each Lender shall purchase from the Company, the Company’s promissory notes (the “Notes”), in the form attached hereto as Exhibit
A, up to the amount of such Lender’s Committed Funds. 
 1.2 Commitment Period. The Lenders without condition make the
Committed Funds available for the Company’s use for a term (the “Commitment Period”) which shall terminate upon the earlier of (i) February 9, 2009, and (ii) the date on which the Company actually receives
additional financing from any third party (other than indebtedness of the Company to banks, commercial finance lenders and similar financial institutions) in the aggregate amount of not less than Twenty Million Dollars ($20,000,000)
(“Qualified Financing”). The Company shall have the option to extend the Commitment Period through May 11, 2009. To extend the Commitment Period, the Company shall notify the Lender of its election 

  

 1 

 
in writing, pursuant to the Notification Provision set out in Section 6.8, no less than 15 days before the original Commitment Period is scheduled to
expire. In no event shall the Commitment Period extend beyond May 11, 2009. 
 1.3 Election to Draw on Committed Funds. The
Company shall be entitled to draw on the Committed Funds in no more than ten (10) tranches, in minimum amounts of $1,000,000 each, up to an aggregate amount as set forth on the attached Schedule 1.1. To draw on the Committed Funds, the
Company shall notify the Lenders of its election in writing, pursuant to the Notification Provision set out in Section 6.8, no less than fourteen (14) days before the requested advance (the “Drawdown Notice”). Each Lender
shall advance to the Company its pro rata portion of such amount no later than fourteen (14) days after receiving the Drawdown Notice. Other than delivery of the Drawdown Notice, there shall be no preconditions or requirements with respect to
the Company’s ability to draw on the Committed Funds. The Lenders hereby acknowledge that the determination as to whether to make a draw at any time shall be at the discretion of the executive officers of the Company. 
 1.4 Maturity Date. All amounts due under the Notes shall become due and payable on the date (the “Maturity Date”) that is the
earlier of (i) February 9, 2009, and (ii) the date on which the Company consummates a Qualified Financing. The Company shall have the option to extend the Maturity Date to May 11, 2009. To extend the Maturity Date, the Company
shall notify the Lenders of its election in writing, pursuant to the Notification Provision set out in Section 6.8, no less than thirty days before the original Maturity Date. In no event shall the Maturity Date be extendable to beyond
May 11, 2009. 
 1.5 Optional Prepayment. The Company may at any time, prepay the unpaid principal amount of any of the Notes, or
any part thereof, without penalty or premium, but with interest accrued to the date fixed for prepayment; provided, however, that if the Company makes a prepayment with respect to any Note, the Company must make prepayments to each Lender in amounts
that are pro rata in proportion to the outstanding principal amount with respect to each such Note being prepaid and any other Note issued on the same day as such Note unless otherwise agreed to in writing by the Company and each Lender. Notice of
prepayment shall be given by the Company by mail and shall be mailed to the Lenders not less than thirty (30) days prior to the date fixed for prepayment. Upon giving of notice of prepayment as aforesaid, any Note (or the portion thereof to be
prepaid, as the case may be) shall on the prepayment date specified in such notice become due and payable; and from and after the prepayment date so specified (unless the Company shall default in making such prepayment) interest on such Note (or the
portion thereof to be prepaid, as the case may be) shall cease to accrue and, on presentation and surrender hereof to the Company for cancellation, such Note (or the portion thereof to be prepaid as the case may be) shall be paid by the Company at
the prepayment price aforesaid. 
 1.6 Interest. The Company shall pay interest on the unpaid balance of any advances under each Note
at a per annum interest rate equal to the most favorable rate provided at the time of such advance by Silicon Valley Bank (“SVB”) (or the Company’s primary bank lender at the time of such advance if not SVB). Such interest shall be
paid by the Company to the Lenders with the unpaid principal balance on the Maturity Date or in accordance with Section 1.5. 
  

 2 

 1.7 Guaranty. 
 (a) The Lenders acknowledge that the Company intends to enter into a modification of its current $25,000,000 revolving line of credit (as so modified, the “Amended Revolver”). It is anticipated that
such Amended Revolver will provide for a line of credit (i) under a borrowing formula based on eligible domestic and foreign trade accounts receivable and eligible inventory (the “Borrowing Formula”) and (ii) a non-formula
guaranteed sub-limit (the “Guaranteed Sub-Limit”), subject to a guaranty to be provided by the Lenders hereunder. Upon written request of the Company to all the Lenders (a “Guaranty Request”) at any time and from
time to time during the Commitment Period, each Lender, severally and not jointly, agrees that it shall unconditionally guarantee repayment of such Lender’s pro rata portion of an aggregate amount specified in such Guaranty Request; provided
that such specified amount shall be a maximum amount, and in no event shall either (i) each such Lender’s obligation to fund such guarantee exceed such Lender’s pro rata portion of the amount drawn under the Guaranteed Sub-Limit
to the extent such amount exceeds the amounts that could be borrowed by the Company under the Borrowing Formula or (ii) the aggregate amount specified in the Guaranty Request exceed the aggregate undrawn Committed Funds at the time of such
Guaranty Request. Such agreement to guarantee shall be evidenced by, and each of the Lenders agrees to execute and deliver to the Bank as promptly as practicable (but no more than 10 days) following a Guaranty Request, a written guaranty agreement
in a form mutually agreed to by the Lenders and the Bank and otherwise on commercially reasonable terms. Under the terms of such guaranty agreement, at the maturity of the Amended Revolver (which shall be no later than March 31, 2009), each
Lender will fund a reduction to the Amended Revolver in an amount equal to outstanding loan balances that exceed the Borrowing Formula at that time. In the event the Lenders are required to make a payment to SVB pursuant to such guarantee, the
amount of any such payment shall be deemed drawn by the Company pursuant to Section 1.3. The Company shall execute and deliver a Note to each Lender to the extent the Lender is required to fund such guaranty obligation, and principal and
interest on such amounts shall be due at the Maturity Date. 
 (b) The Company may make multiple Guaranty Requests, but in minimum amounts of
$1,000,000 per request. That amount of each Guaranty Request shall reduce the amount of Committed Funds that the Company may draw under Section 1.3 on a dollar-for-dollar basis. In connection with any such Guaranty Request, the Company shall
pay or cause to be paid to each Lender no later than simultaneously with the delivery of the form of guarantee, an administrative fee equal to 1% of the amount so guaranteed by each such Lender (the “Administrative Fee”). The
Company may direct that such Administrative Fee be paid directly by SVB to each Lender out of a simultaneous drawdown from the Amended Revolver. Other than delivery of the Guaranty Request and the Administrative Fee, there shall be no preconditions
or requirements with respect to the Company’s ability to cause Lenders to honor the guarantee obligation in this Section 1.7 up to the amount of undrawn Committed Funds. The Lenders hereby acknowledge that the determination as to whether
to make a Guaranty Request at any time shall be at the discretion of the executive officers of the Company. 
 (c) Notwithstanding anything
to the contrary herein, the Lenders’ respective obligations under this Section 1.7 shall be several and not joint and several. 
  

 3 

 (d) As used in this Section 1.7, “undrawn Committed Funds” shall mean (1) the
aggregate of Committed Funds less (2) (a) all amounts that have been actually been advanced by the Lenders to the Company hereunder, (b) the total of all requested advances in any Drawdown Notices that have not been withdrawn by the
Company prior to advancement of funds by the Lenders and (c) the total amount guaranteed pursuant to previous Guaranty Requests. 
 2.
Warrants. 
 2.1 In consideration for entering into and performing this Agreement, the Company shall grant to each Lender warrants (the
“Warrants”) to purchase shares of the Company’s common stock, par value $0.001 per share (“Common Stock”). Such Warrants shall be in the form attached as Exhibit B. Each Lender shall receive the number
of Warrants as follows: 
 (a) upon execution and delivery of this Agreement, a Warrant to purchase such number of shares of
Common Stock as set forth opposite such Lender’s name on the attached Schedule 1.1, which is equal to that portion of the Committed Funds to be loaned by each such Lender multiplied by 0.20, divided by the Exercise Price; and 

(b) upon the first to occur of any extension of either (1) the Commitment Period under Section 1.2 or (2) the Maturity
Date under Section 1.4, an additional Warrant to purchase such number of shares of Common Stock as set forth opposite such Lender’s name on the attached Schedule 1.1, which is equal to that portion of the Committed Funds to be
loaned by each such Lender multiplied by 0.05, divided by the Exercise Price, provided that only one adjustment shall be made pursuant to this Section 2.1(b). 
 Notwithstanding any other provision of this Agreement, in no event shall the number of shares issuable upon exercise of such Warrants exceed 19.9% of the
outstanding Common Stock of the Company. The Warrants described in Section 2.1(a) shall be issued to the Lenders no later than February 29, 2008. If any Warrants are ever issuable pursuant to Section 2.1(b), such Warrants shall be
issued to the Lenders no later than ten (10) business days after date on which the Company is obligated to issue such Warrants. 
 2.2
Registration Rights. 
 (a) Promptly following the execution and delivery of this Agreement, the Company shall use its reasonable best
efforts to obtain an amendment, waiver or other similar document, from the holders of registrable securities under that certain that certain Fourth Amended and Restated Investor Rights Agreement dated as of December 17, 2002, as amended,
including without limitation a waiver of any incidental or piggyback registration rights thereunder, to permit the registration of the shares of Common Stock issuable upon exercise of the Warrants (“Warrant Shares”). Within sixty
(60) days after the date of this Agreement (or immediately following receipt of such waiver or amendment, if later), the Company shall file with the Securities and Exchange Commission (the “SEC”) a registration statement with
respect to the maximum number of Warrant Shares issuable upon exercise of the Warrants and use its reasonable best efforts to cause such registration statement to become effective, and to keep such 

  

 4 

 
registration statement effective for up to ninety (90) days or until the Lenders have completed the distribution relating thereto (or in the
alternative, if and to the extent available, cause such Warrant Shares to be included in a supplement to or on a post-effective amendment to a shelf registration statement previously filed by the Company). The Company shall not have any obligation
to sell such shares in an underwritten offering. 
 (b) In connection therewith, the Company shall: 
 i. Prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with
such registration statement as may be necessary to comply with the provisions of the Securities Act of 1933, as amended (the “Securities Act”), with respect to the disposition of all securities covered by such registration
statement. 
 ii. Furnish to the Lenders such numbers of copies of a prospectus, including a preliminary prospectus, in
conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Warrant Shares owned by them. 
 iii. Use its reasonable best efforts to register and qualify the securities covered by such registration statement under such other
securities or blue sky laws of such jurisdictions as shall be reasonably requested by the Lenders, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general
consent to service of process in any such states or jurisdictions. 
 iv. Notify each Lender of Warrant Shares covered by such
registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. 
 (b) The parties to this Agreement agree that they shall have such indemnification obligations as set forth on Schedule 2.2 hereto. 
 (c) Each Lender or other permitted holder of Warrant Shares included in any registration shall furnish to the Company such information regarding such
person and the distribution proposed by such person as the Company may reasonably request in writing and as shall be required in connection with any registration or qualification referred to in this Section 2.2. 
 2.3 All expenses incurred in connection with the registration effected pursuant to Section 2.2, including without limitation all registration,
filing, and qualification fees (including blue sky fees and expenses), printing expenses, escrow fees, fees and disbursements of counsel for the Company, reasonable fees and disbursements of one special counsel for the participating Lenders
(collectively, “Registration Expenses”), shall be borne by the Company; provided, however, that the term Registration Expenses shall not include, and in no event will the Company be obligated to pay, stock transfer taxes or
underwriters’ discounts, or commissions relating to the Warrant Shares. 
  

 5 

 2.4 Certain Definitions. 
 “Trading Day” shall mean a day on which the principal national securities exchange on which the Common Stock is listed or admitted to trading is open for business. 
 “Closing Price” with respect to Common Stock on any day means the reported last sales price regular way on The NASDAQ Global Select
Market (“NASDAQ”), or, if no such reported sale occurs on such day, the average of the closing bid and asked prices regular way on such day, in each case as reported in the principal consolidated transaction reporting system with
respect to securities listed on the principal national securities exchange on which such class of security is listed or admitted to trading as reported by NASDAQ or any comparable system then in use or, if not so reported, as reported by any New
York Stock Exchange member firm reasonably selected by the Company for such purpose. 
 “Exercise Price” shall mean $6.99,
which represents the average of the daily Closing Prices of a share of the Common Stock for the five (5) consecutive Trading Days commencing January 31, 2008, which is the fifth (5th) Trading Date preceding the date on which the
Company publicly announced that it has entered into the Commitment. 
 3. Representations and Warranties of the Company. 

3.1 Organization and Standing. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State
of Delaware. The Company has the requisite corporate power and authority to conduct its business as it is presently being conducted and to own and operate its properties and assets. 
 3.2 Corporate Power. The Company has all requisite corporate power and authority and has taken all corporate action necessary to execute and
deliver this Agreement, to issue the Notes and Warrants and to carry out and perform its obligations under the terms of this Agreement. 
 3.3 Authorization. The execution, delivery and performance of this Agreement by the Company has been duly authorized by all requisite corporate action, and constitutes the valid and binding obligations of the Company, enforceable, in
accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors’ rights. 
 4. Representations and Warranties of the Lenders. 
 4.1 Representations and Warranties of the Lenders. Each Lender severally and not jointly, represents and warrants to the Company as follows: 
 (a) The Lender has all requisite power and authority to execute and deliver this Agreement, to consummate the transactions contemplated hereby and to
perform its obligations hereunder. The execution and delivery of this Agreement by the Lender, and the 

  

 6 

 
consummation by the Lender of the transactions contemplated hereby have been duly approved and no other corporate or other proceedings on the part of the
Lender are or will be necessary to authorize this Agreement and the transactions contemplated hereby. This Agreement has been duly executed and delivered by the Lender and is a legal, valid and binding obligation of the Lender enforceable against
the Lender in accordance with its respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors’ rights. 
 (b) The Lender is experienced in evaluating and investing in companies such as the Company. The Lender is a sophisticated investor with such knowledge
and experience in financial and business matters so as to be capable of evaluating the merits and risks of a prospective investment in the Notes, the Warrants and the Warrant Shares (collectively, the “Securities”) and who is
capable of bearing the economic risks of such investment. 
 (c) The Lender is acquiring the Securities for investment for its own account
and not with a view to, or for resale in connection with, any distribution thereof. The Lender understands that the Securities to be acquired have not been registered under the Securities Act by reason of a specific exemption from the registration
provisions of the Securities Act which depends upon, among other things, the bona fide nature of the investment intent as expressed herein. The Lender further represents that it does not have any contract, undertaking, agreement or arrangement with
any person to sell, transfer or grant participation to any third person with respect to any of the Securities. The Lender understands and acknowledges that the offering of the Securities pursuant to this Agreement will not be registered under the
Securities Act on the ground that the sale provided for in this Agreement and the issuance of Securities hereunder is exempt from the registration requirements of the Securities Act. 
 (d) The Lender acknowledges that the Securities must be held indefinitely unless subsequently registered under the Securities Act or unless an exemption
from such registration is available. The Lender is aware of the provisions of Rule 144 promulgated under the Securities Act which permit limited resale of securities purchased in a private placement subject to the satisfaction of certain
conditions. The Lender covenants that, in the absence of an effective registration statement covering the Securities in question, the Lender will sell, transfer, or otherwise dispose of the Securities only in a manner consistent with the
Lender’s representations and covenants set forth in this Section 4. In connection therewith, the Lender acknowledges that the Company will make a notation on its stock books regarding the restrictions on transfers set forth in this
Section 4 and will transfer Securities on the books of the Company only to the extent not inconsistent therewith. 
 (e) The Lender
understands that there will be no public market for either the Notes or Warrants. 
 (f) The Lender (or its authorized representative) has
had an opportunity to discuss the Company’s business, management and financial affairs with the Company’s management and to review the Company’s facilities. The Lender understands that such discussions, as well as the written
information issued by the Company, were intended to describe the aspects of the Company’s business and prospects which it believes to be material but were not necessarily a thorough or exhaustive description. 
  

 7 

 (g) The Lender represents that Lender is an “accredited investor” as such term is defined in
Regulation D promulgated under the Securities Act. The Lender has the financial ability to perform or cause this Agreement to be performed, and shall provide to the Company reasonable evidence of such ability upon written request from time to
time, subject to confidentiality reasonably requested by such Lender. 
 4.2 Legend. Each Note shall be endorsed with the following
legend: 
 THE NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
SECURITIES LAWS, AND, ACCORDINGLY, THE NOTE MAY ONLY BE SOLD OR OTHERWISE TRANSFERRED TO A “PERMITTED TRANSFEREE” (AS DEFINED HEREIN) OR PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE
SECURITIES LAWS OR IN A TRANSACTION EXEMPT FROM THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
 THE INDEBTEDNESS EVIDENCED BY
THIS INSTRUMENT IS SUBORDINATED TO THE PRIOR PAYMENT IN FULL OF SENIOR INDEBTEDNESS (AS DEFINED HEREIN) TO THE EXTENT PROVIDED HEREIN. 
 4.3
Each Lender agrees that in no event will it make a transfer or disposition of any of the Notes or Warrants (other than pursuant to an effective registration statement under the Securities Act), unless and until (i) it shall have notified the
Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the disposition and assurance that the proposed disposition is in compliance with all applicable laws, and (ii) if
reasonably requested by the Company, at the expense of such Lender or its transferee, it shall have furnished to the Company an opinion of counsel, reasonably satisfactory to the Company, to the effect that such transfer may be made without
registration under the Securities Act. Notwithstanding the foregoing, no formal notice or opinion of counsel shall be required for the transfer by a Lender to any of the following (each, a “Permitted Transferee”): (x) any
partner of a Lender or to a retired partner of a Lender, who retires after the date of this Agreement, (y) the estate of any such partner or a retired partner or for the transfer by gift, will or intestate succession of any partner to his
spouse or lineal descendants or ancestors or (z) any entity which is a wholly-owned subsidiary of the Lender or which is under common control with the Lender; provided, however, in all cases where no legal opinion is required that the
transferee shall agree in writing to be subject to the terms of this Agreement to the same extent as if it were the original Lender hereunder. 
 5. Subordination. The indebtedness evidenced by the Notes shall be expressly subordinated, to the extent and in the manner set forth in the Notes, in right of payment to the prior payment in full of all the Company’s Senior
Indebtedness, as defined in the Notes. All other terms related to the subordination set forth in the Notes are incorporated herein by reference. The Company agrees that any future Junior Indebtedness, as defined in the Notes, shall be subordinate to
the Notes on as set forth therein. 
  

 8 

 6. Miscellaneous. 
 6.1 Financial Statements. During the Commitment Period, the Company shall deliver or cause to be delivered to each of the Lenders, at the same time as such information is delivered to SVB, such financial
statements and other financial information as delivered by the Company to SVB under the Amended Revolver or other principal loan documents then in place with SVB; provided, however, that notwithstanding the foregoing, such financial
statements and other financial information shall be delivered to the Lenders no less frequently than monthly and shall at a minimum show (i) actual results operating results versus budgeted operating results, (ii) new purchase orders for
Stereotaxis Niobe (or equivalent or successor) systems, and (iii) current backlog for such system orders as of the end of such period. 
 6.2 Waivers and Amendments. Any term of this Agreement may be amended or waived only with the written consent of the Company and all of the Lenders. 
 6.3 Governing Law. This Agreement shall be governed in all respects by the internal laws of the State of Delaware, without giving effect to principles of conflicts of law. 
 6.4 Attorney’s Fees. If any action at law or in equity (including arbitration) is necessary to enforce or interpret the terms of this
Agreement, the prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 
 6.5 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding
upon, the successors, assigns, heirs, executors and administrators of the parties hereto. 
 6.6 Entire Agreement; Conflict. This
Agreement and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement among the parties with regard to the subjects hereof and thereof. Except as expressly provided herein, in the event of any
conflict between the terms of this Agreement and the other documents as attached hereto, this Agreement shall control. 
 6.7 Severability
of this Agreement. In case any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 6.8 Titles and Subtitles; Construction. The titles of the Sections and Subsections of this Agreement are for convenience of reference
only and are not to be considered in construing this Agreement. All words used in this Agreement will be construed to be of such gender or number as the circumstances require. 
 6.9 Notices. Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon receipt, when delivered
personally or by courier, overnight delivery service or confirmed facsimile, or forty-eight (48) hours after being deposited 

  

 9 

 
in the U.S. mail as certified or registered mail with postage prepaid, if such notice is addressed to the party to be notified at such party’s address
or facsimile number as set forth below or as subsequently modified by written notice. 
  

			
	To the Company:
	
	Stereotaxis, Inc.
	4320 Forest Park Avenue, Suite 100
	St. Louis, Missouri 63108
	Fax: (314) 678-6110
	Attention:	  	Chief Executive Officer
		  	Chief Financial Officer
	
	Copy to:
	
	Bryan Cave LLP
	One Metropolitan Square
	Suite 3600
	St. Louis, MO 63102
	Fax: (314) 259-2020
	Attn:	  	James L. Nouss, Jr., Esq.
		  	Robert J. Endicott, Esq.
	
	To the Lenders:
	
	To the addresses specified on Schedule 1.1 hereto.

 6.10 Counterparts. This Agreement may be executed by facsimile and in any number of
counterparts, each of which shall be deemed an original, and all of which together shall constitute one instrument. 
 [THE REMAINDER OF THIS
PAGE LEFT INTENTIONALLY BLANK] 
  

 10 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as described
in the introductory paragraph to this Agreement. 
  

					
	THE COMPANY:	 	STEREOTAXIS, INC.
			
		 	By:	 	 /s/ James M. Stolze

		 	Name:	 	JAMES M. STOLZE
		 	Title:	 	VICE PRESIDENT & CFO
			
	THE LENDERS:	 		 	
		
		 	SANDERLING VENTURE PARTNERS VI CO-INVESTMENT FUND, L.P.
			
		 	By:	 	Middleton, McNeil, Mills & Associates VI, LLC
			
		 	By:	 	 /s/ Fred A. Middleton

		 		 	Fred A. Middleton, Managing Director
		
		 	SANDERLING VI LIMITED PARTNERSHIP
			
		 	By:	 	Middleton, McNeil, Mills & Associates VI, LLC
			
		 	By:	 	 /s/ Fred A. Middleton

		 		 	Fred A. Middleton, Managing Director

  

 11 

					
		 	SANDERLING VI BETEILIGUNGS GMBH & CO. KG
			
		 	By:	 	Middleton, McNeil, Mills & Associates VI, LLC
			
		 	By:	 	 /s/ Fred A. Middleton

		 		 	Fred A. Middleton, Managing Director
		
		 	ALAFI CAPITAL COMPANY LLC
			
		 	By:	 	 /s/ Christopher Alafi

		 		 	Christopher Alafi, Manager

  

 12 

 Schedule 1.1 
  

								
	 Lender Name and Address
	  	Committed
Funds	  	Warrant shares
pursuant to
Section 2.1(a)	  	Warrant shares
pursuant to
Section 2.1(b)
	 Sanderling Venture Partners VI Co-Investment Fund, L.P.
 [Separately on file with the Company]
	  	$	9,593,135.54	  	274,482 shares of
Common Stock	  	68,621 shares of
Common Stock
				
	 Sanderling VI Beteiligungs GmbH & Co KG
 [Separately on file with the Company]
	  	$	185,656.59	  	5,312 shares of
Common Stock	  	1,328 shares of
Common Stock
				
	 Sanderling VI Limited Partnership
 [Separately on file with the Company]
	  	$	221,207.87	  	6,329 shares of
Common Stock	  	1,582 shares of
Common Stock
				
	 Alafi Capital Company LLC
 [Separately on file with the Company]
	  	$	10,000,000	  	286,123 shares of
Common Stock	  	71,531 shares of
Common Stock
				
	 Total
	  	$	20,000,000	  	572,246 shares of
Common Stock	  	143,062 shares of
Common Stock

  

 1 

 Schedule 2.2 
 Indemnification 
 (a) The Company will, and does hereby undertake to, indemnify and hold harmless
each Lender, each of such Lender’s officers, directors, partners and agents, and each person controlling such Lender, with respect to any registration or qualification of the Warrant Shares held by or issuable to such Lender effected pursuant
to the Agreement to which this Schedule 2.2 is appended, and each underwriter of such registration, if any, and each person who controls any underwriter, against all claims, losses, damages, and liabilities (or actions in respect thereto) to
which they may become subject under the Securities Act, the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or other federal or state law arising out of or based on (i) any untrue statement (or alleged untrue
statement) of a material fact contained in any prospectus, offering circular, or other similar document (including any related registration statement, notification, or the like) incident to any such registration or qualification, or based on any
omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (ii) any violation or alleged violation by the Company of any federal, state or common
law rule or regulation applicable to the Company in connection with any such registration or qualification, and will reimburse, as incurred, each such Lender, each such underwriter, and each such director, officer, partner, agent and controlling
person, for any legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action; provided that the Company will not be liable in any such case to the extent that any
such claim, loss, damage, liability or expense, arises out of or is based on any untrue statement or omission based upon written information furnished to the Company by an instrument duly executed by such Lender or underwriter and stated to be
specifically for use therein. 
 (b) Each Lender will, if Warrant Shares held by or issuable to such Lender are included in such registration
or qualification, of the Company’s securities, severally and not jointly, indemnify the Company, each of its directors, and each officer who signs a registration statement in connection therewith, and each person controlling the Company, each
underwriter of such registration, if any, and each person who controls any such underwriter, and each other Lender, each of such other Lender’s officers, partners, directors and agents and each person controlling such other Lender, against all
claims, losses, damages, and liabilities (or actions in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any prospectus, offering circular, or other similar document
(including any related registration statement, notification, or the like) incident to any such registration or qualification, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary
to make the statements therein not misleading, and will reimburse, as incurred, the Company, each such underwriter, each such other Lender, and each such director, officer, partner, and controlling person, for any legal or any other expenses
reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or
alleged omission) was made in such registration statement, prospectus, offering circular, or other document, in reliance upon and in conformity with written information furnished to the Company by an instrument duly executed by such Lender and
stated to be specifically for use therein. In no event will any Lender be required to 

  

 1 

 
enter into any agreement or undertaking in connection with any registration under the Agreement providing for any indemnification or contribution obligations
on the part of such Lender greater than such Lender’s obligations under this Schedule 2.2. The liability of each Lender hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to
the proportion that the public offering price of the shares sold by such Lender under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by
such Lender from the sale of Warrant Shares covered by such registration statement. 
 (c) Each party entitled to indemnification under this
Schedule 2.2 (the “Indemnified Party”) shall give notice to the party required to provide such indemnification (the “Indemnifying Party”) of any claim as to which indemnification may be sought promptly after
such Indemnified Party has actual knowledge thereof, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom; provided that counsel for the Indemnifying Party, who shall conduct the
defense of such claim or litigation, shall be subject to approval by the Indemnified Party (whose approval shall not be unreasonably withheld) and the Indemnified Party may participate in such defense at the Indemnifying Party’s expense if
representation of such Indemnified Party would be inappropriate due to actual or potential differing interests between such Indemnified Party and any other party represented by such counsel in such proceeding; and provided further that the failure
of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under the Agreement, except to the extent that such failure to give notice shall materially adversely affect the Indemnifying
Party in the defense of any such claim or any such litigation. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any
settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff therein, to such Indemnified Party, of a release from all liability in respect to such claim or litigation. 
  

 2 

 Exhibit A 
 Form of Note 
 THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE SECURITIES LAWS, AND, ACCORDINGLY, THIS NOTE MAY ONLY BE SOLD OR OTHERWISE TRANSFERRED TO A “PERMITTED TRANSFEREE” (AS DEFINED HEREIN) OR PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND
APPLICABLE STATE SECURITIES LAWS OR IN A TRANSACTION EXEMPT FROM THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
 THE INDEBTEDNESS EVIDENCED
BY THIS INSTRUMENT IS SUBORDINATED TO THE PRIOR PAYMENT IN FULL OF SENIOR INDEBTEDNESS (AS DEFINED HEREIN) TO THE EXTENT PROVIDED HEREIN. 
 STEREOTAXIS, INC. 
 TERM NOTE 
  

			
	$                    	 	                    , 200  
		 	St. Louis, Missouri

 1. General. Stereotaxis, Inc., a Delaware corporation (the “Company”), for
value received, hereby promises to pay to the order of
                                        
(the “Holder”) the principal sum of                      Dollars
($                    ), on the date (the “Maturity Date”) which is the earlier of (i) February 9, 2009, or
(ii) the date upon which the Company obtains up to Twenty Million Dollars ($20,000,000) of Qualified Financing (as such term is defined in the Purchase Agreement referred to below), in such coin or currency of the United States of America as at
the time of payment shall be legal tender therein for the payment of public and private debts, and to pay interest on the unpaid balance of the principal hereof from the date hereof, at the times and in the amounts as provided in that certain Note
and Warrant Purchase Agreement by and among the Company and the Holder and the other lender set forth therein, effective February 7, 2008, as the same may from time to time be amended, modified or supplemented (the “Purchase
Agreement”); provided that the Company shall have the option, pursuant to the terms of the Purchase Agreement, to extend the Maturity Date to May 11, 2009. Notice of extension of the Maturity Date shall be given by the Company by mail
and shall be mailed to the Holder not less than 30 days prior to the date fixed for such Maturity Date extension. All payments of principal and interest on this Term Note (this “Note”) shall be made at the offices of the Company. In
the event that the principal amount of this Note is not paid in full when such amount becomes due and payable, interest at the rate of [        ] percent
([        ]%) (the “Default Rate”)1 shall continue to accrue on the balance of any unpaid principal until such balance is paid. 
  

	1	Default Rate to be inserted shall be the most favorable default rate provided by SVB at the time the Note is issued. 

  

 1 

 This Note is issued in connection with the Purchase Agreement and the Holder is subject to certain
restrictions set forth in this Note and the Purchase Agreement and shall be entitled to certain rights and privileges set forth in the same. 
 2. Optional Prepayment. The Company may at any time, prepay the unpaid principal amount of this Note, or any part thereof, without penalty or premium, but with interest accrued to the date fixed for prepayment. Notice of prepayment
shall be given by the Company by mail and shall be mailed to the Holder not less than fifteen (15) days prior to the date fixed for prepayment. Upon giving of notice of prepayment as aforesaid, this Note (or the portion thereof to be prepaid,
as the case may be) shall on the prepayment date specified in such notice become due and payable; and from and after the prepayment date so specified (unless the Company shall default in making such prepayment) interest on this Note (or the portion
thereof to be prepaid, as the case may be) shall cease to accrue and, on presentation and surrender hereof to the Company for cancellation, this Note (or the portion thereof to be prepaid as the case may be) shall be paid by the Company at the
prepayment price aforesaid. 
 3. Events of Default. If any of the events specified in this Section 3 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, by notice in writing to
the Company: 
 (i) 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) days after the Holder has given the Company written notice of such default; or 
 (ii) The institution by the Company of proceedings to be adjudicated as bankrupt or insolvent, or the consent by it to institution of bankruptcy or insolvency proceedings against it or the filing by it of a petition
or answer or consent seeking reorganization or release under the federal Bankruptcy Code, or any other applicable federal or state law, or the consent by it to the filing of any such petition or the appointment of a receiver, liquidator, assignee,
trustee or other similar official of the Company, or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the taking of corporate action by the Company in furtherance of any such action; or

 (iii) If, within sixty (60) days after the commencement of an action against the Company (and service of process in
connection therewith on the Company) seeking any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar relief under any present or future statute, law or regulation, 

  

 2 

 
such action shall not have been resolved in favor of the Company or all orders or proceedings thereunder affecting the operations or the business of the
Company stayed, or if the stay of any such order or proceeding shall thereafter be set aside, or if, within sixty (60) days after the appointment without the consent or acquiescence of the Company of any trustee, receiver or liquidator of the
Company or of all or any substantial part of the properties of the Company, such appointment shall not have been vacated. 
 At any time that
the unpaid principal balance of this Note, together with all accrued and unpaid interest owing thereon, shall have become due and payable in full pursuant to this Section 3, the aggregate of all such sums shall thereafter bear interest, both
before and after judgment, at the Default Rate until such sums have been paid. In such event, all payments made thereafter shall be applied first to unpaid interest hereon, then to the principal of this Note. 
 4. Subordination. The indebtedness evidenced by this Note is hereby expressly subordinated, to the extent and in the manner hereinafter set
forth, in right of payment to the prior payment in full of all the Company’s Senior Indebtedness, as hereinafter defined. 
 4.1.
Senior Indebtedness. As used in this Note, the term “Senior Indebtedness” shall mean the principal of and unpaid accrued interest on: (i) all indebtedness of the Company to Silicon Valley Bank or its affiliates or any other
banks, commercial finance lenders or similar financial institutions, which is for money borrowed by the Company (whether or not secured) (“Financial Institution Debt”), and (ii) any such indebtedness or any debentures, notes or
other evidence of indebtedness issued in exchange for or to refinance such Financial Institution Debt, or any indebtedness arising from the satisfaction of such Financial Institution Debt by a guarantor. 
 4.2. Default on Senior Indebtedness. If there should occur any receivership, insolvency, assignment for the benefit of creditors,
bankruptcy, reorganization or arrangements with creditors (whether or not pursuant to bankruptcy or other insolvency laws), sale of all or substantially all of the assets, dissolution, liquidation or any other marshalling of the assets and
liabilities of the Company, then (i) no amount shall be paid by the Company in respect of the principal of or interest on this Note at the time outstanding, unless and until the principal of and interest on the Senior Indebtedness then
outstanding shall be paid in full, and (ii) no claim or proof of claim shall be filed with the Company by or on behalf of the Holder of this Note that shall assert any right to receive any payments in respect of the principal of and interest on
this Note, except subject to the payment in full of the principal of and interest on all of the Senior Indebtedness then outstanding. If there occurs an event of default that has been declared in writing with respect to any Senior Indebtedness, or
in the instrument under which any Senior Indebtedness is outstanding, permitting the holder of such Senior Indebtedness to accelerate the maturity thereof, then, unless and until such event of default shall have been cured or waived or shall have
ceased to exist, or all Senior Indebtedness shall have been paid in full, no payment shall be made in respect of the principal of or interest on this Note. 
  

 3 

 4.3. Effect of Subordination. Subject to the rights, if any, of the holders of Senior
Indebtedness under this Section 4 to receive cash, securities or other properties otherwise payable or deliverable to the Holder of this Note, nothing contained in this Section 4 shall impair, as between the Company and the Holder, the
obligation of the Company, subject to the terms and conditions hereof, to pay to the Holder the principal hereof and interest hereon as and when the same become due and payable, or shall prevent the Holder of this Note, upon default hereunder, from
exercising all rights, powers and remedies otherwise provided herein or by applicable law. 
 4.4. Subrogation. Subject to the
payment in full of all Senior Indebtedness and until this Note shall be paid in full, the Holder shall be subrogated to the rights of the holders of Senior Indebtedness (to the extent of payments or distributions previously made to such holders of
Senior Indebtedness pursuant to the provisions of Section 4.2 above) to receive payments or distributions of assets of the Company applicable to the Senior Indebtedness. No such payments or distributions applicable to the Senior Indebtedness
shall, as between the Company and its creditors, other than the holders of Senior Indebtedness and the Holder, be deemed to be a payment by the Company to or on account of this Note; and for the purposes of such subrogation, no payments or
distributions to the holders of Senior Indebtedness to which the Holder would be entitled except for the provisions of this Section 4 shall, as between the Company and its creditors, other than the holders of Senior Indebtedness and the Holder,
be deemed to be a payment by the Company to or on account of the Senior Indebtedness. 
 4.5. Undertaking. By its acceptance of
this Note, the Holder agrees to execute and deliver such documents as may be reasonably requested from time to time by the Company or the lender of any Senior Indebtedness in order to implement the foregoing provisions of this Section 4.

 4.6. Subordination of Junior Indebtedness. In connection with the Company’s incurrence of any future convertible
indebtedness or other indebtedness of the Company in respect of borrowed money evidenced by bonds, notes, debentures or similar instruments or letters of credit that is other than Financial Institution Debt (“Junior Indebtedness”),
the Company agrees that any such Junior Indebtedness shall be subordinate to this Note on substantially the same terms as are provided under this Article 4. 
 5. Warrant Agreement. Warrants shall be issued by the Company pursuant to the Purchase Agreement, which together with the Form of Warrant to be issued thereunder shall govern all aspects of the Warrants,
including without limitation the term, exercise price and all adjustments to the number of shares of common stock issuable upon exercise thereof. 
  

 4 

 6. Assignment. Subject to the restrictions on transfer described in Section 12 below,
the rights and obligations of the Company and the Holder of this Note shall be binding upon and benefit the successors, permitted assigns, heirs, administrators and transferees of the parties. 
 7. Waiver and Amendment. Any provision of this Note may be amended, waived or modified pursuant to the terms of the Purchase Agreement.

 8. 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. 
 9.
Notices. Any notice, request or other communication required or permitted hereunder shall be in writing and shall be deemed to have been duly given if personally delivered or if faxed or mailed by registered or certified mail, postage
prepaid, at the respective addresses of the parties as set forth herein. Any party hereto may by notice so given change its address for future notice hereunder. Notice shall conclusively be deemed to have been given when personally delivered or when
deposited in the mail or faxed in the manner set forth above and shall be deemed to have been received when delivered. 
 10. No
Stockholder Rights. Nothing contained in this Note shall be construed as conferring upon the Holder or any other person the right to vote or to consent or to receive notice as a stockholder in respect of meetings of stockholders for the election
of directors of the Company or any other matters or any rights whatsoever as a stockholder of the Company. 
 11. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, excluding that body of law relating to conflict of laws. 
 12. Transfer Restrictions. The Holder agrees that in no event will it make a transfer or disposition of any of this Note (other than pursuant to an effective registration statement under the
Securities Act), unless and until (i) it shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the disposition and assurance that the proposed
disposition is in compliance with all applicable laws, and (ii) if reasonably requested by the Company, at the expense of such Holder or its transferee, it shall have furnished to the Company an opinion of counsel, reasonably satisfactory to
the Company, to the effect that such transfer may be made without registration under the Securities Act. Notwithstanding the foregoing, no formal notice or opinion of counsel shall be required for the transfer by an Holder to any of the following
(each, a “Permitted Transferee”): (x) any partner of a Holder or to a retired partner of a Holder, who retires after the date of this Note, (y) the estate of any such partner or a retired partner or for the transfer by
gift, will or intestate succession of any partner to his spouse or lineal descendants or ancestors or (z) any entity which is a wholly-owned subsidiary of the Holder or 

  

 5 

 
which is under common control with the Holder; provided, however, in all cases where no legal opinion is required that the transferee shall agree in writing
to be subject to the terms of this Note to the same extent as if it were the original Holder hereunder. 
 [THE REMAINDER OF THIS PAGE LEFT
INTENTIONALLY BLANK] 
  

 6 

 IN WITNESS WHEREOF, the Company has caused this Note to be issued this     
day of                     , 200  . 
  

			
	STEREOTAXIS, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	Name of Holder:	 	  

  

			
	Address:	 	  

		 	  

		 	  

  

 7 

 Exhibit B 
 Form of Warrant 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT (AS DEFINED HEREIN), OR UNDER ANY
STATE SECURITIES LAWS, IN RELIANCE UPON EXEMPTIONS FROM REGISTRATION FOR NON-PUBLIC OFFERINGS. THIS SECURITY MAY ONLY BE SOLD OR OTHERWISE TRANSFERRED TO A “PERMITTED TRANSFEREE” (AS DEFINED HEREIN) OR PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR IN A TRANSACTION EXEMPT FROM THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
  

			
	 Effective Date:
                    , 200  
	 	Warrant No.:                     

 STEREOTAXIS, INC. 
 COMMON STOCK PURCHASE WARRANT 
 TO PURCHASE SHARES OF 

COMMON STOCK, $0.001 PAR VALUE PER SHARE 
 This is to certify that, FOR VALUE RECEIVED,
                                        
(“Warrantholder”), is entitled to purchase, subject to the provisions of this Common Stock Purchase Warrant (“Warrant”), from Stereotaxis, Inc., a corporation organized under the laws of Delaware
(“Company”), at any time and from time to time after the issuance date hereof (the “Exercise Date”) but not later than 5:00 P.M., St. Louis, Missouri time, on February 9, 2013 (the “Expiration
Date”),                              shares (“Warrant Shares”) of Common
Stock, $0.001 par value (“Common Stock”), of the Company, at an exercise price per share equal to $6.99 (the exercise price in effect from time to time hereafter being herein called the “Warrant Price”). The number
of Warrant Shares purchasable upon exercise of this Warrant and the Warrant Price shall be subject to adjustment from time to time as described herein. 
 This Warrant has been issued pursuant to the terms of the Note and Warrant Purchase Agreement (the “Purchase Agreement”), effective February 7, 2008, by and among the Company, the Warrantholder
and the other lender set forth therein. Capitalized terms used herein and not defined shall have the meaning specified in the Purchase Agreement. 
 1. Registration. The Company shall maintain books for the transfer and registration of the Warrant. Upon the initial issuance of the Warrant, the Company shall issue and register the Warrant in the name of the Warrantholder.

 2. Transfers. As provided herein, this Warrant may be transferred only pursuant to a registration statement filed under the
Securities Act of 1933, as amended (the “Securities Act”), or an exemption from registration thereunder. Subject to such restrictions, the Company shall transfer this Warrant from time to time, upon the books to be maintained by the
Company for that purpose, upon surrender hereof for transfer properly endorsed or accompanied 

  

 1 

 
by appropriate instructions for transfer upon any such transfer, and a new Warrant shall be issued to the transferee and the surrendered Warrant shall be
canceled by the Company. References to Warrantholder or holder shall include any such transferee. 
 3. Exercise of Warrant.

 (a) Subject to the provisions hereof, the Warrantholder may exercise this Warrant to purchase the Warrant Shares, in whole or in part, at
any time and from time to time on and after the Exercise Date and before the Expiration Date upon surrender of the Warrant, together with delivery of the duly executed Warrant exercise form attached hereto (the “Exercise Agreement”)
(which may be by fax), to the Company during normal business hours on any business day at the Company’s principal executive offices (or such other office or agency of the Company as it may designate by notice to the holder hereof), and upon
payment to the Company in cash, by certified or official bank check or by wire transfer for the account of the Company of the Warrant Price for the Warrant Shares specified in the Exercise Agreement. The Warrant Shares so purchased shall be deemed
to be issued to the holder hereof or such holder’s designee, as the record owner of such shares, as of the close of business on the date on which the completed Exercise Agreement shall have been delivered to the Company (or such later date as
may be specified in the Exercise Agreement). Certificates for the Warrant Shares so purchased, representing the aggregate number of shares specified in the Exercise Agreement, shall be delivered to the holder hereof within a reasonable time, not
exceeding five (5) business days, after this Warrant shall have been so exercised. The certificates so delivered shall be in such denominations as may be requested by the holder hereof and shall be registered in the name of such holder or such
other name as shall be designated by such holder. If this Warrant shall have been exercised only in part, then, unless this Warrant has expired, the Company shall, at its expense, at the time of delivery of such certificates, deliver to the holder a
new Warrant representing the number of shares with respect to which this Warrant shall not then have been exercised. 
 (b) Certain
Definitions. 
 “Trading Day” shall mean a day on which the principal national securities exchange on which the Common Stock
is listed or admitted to trading is open for business. 
 “Closing Price” with respect to Common Stock on any day means the
reported last sales price regular way on The NASDAQ Global Select Market (“NASDAQ”), or, if no such reported sale occurs on such day, the average of the closing bid and asked prices regular way on such day, in each case as reported
in the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which such class of security is listed or admitted to trading as reported by NASDAQ or any comparable
system then in use or, if not so reported, as reported by any New York Stock Exchange member firm reasonably selected by the Company for such purpose. 
 4. Cashless Exercise. The Warrantholder may, at its election exercised in its sole discretion, exercise this Warrant and, in lieu of making the cash payment otherwise contemplated to be made to the Company upon
such exercise in payment of the Warrant Price for the Warrant Shares specified in the Exercise Agreement, elect instead to receive upon such exercise the “Net Number” of shares of Common Stock determined according to the following
formula (a “Cashless Exercise”): 
  

					
	Net Number =	  	 (A x B) - (A x C)
	  	
		  	B	  	

  

 2 

 For purposes of the foregoing formula: 
 A = the total number of shares with respect to which this Warrant is then being exercised. 
 B = the Closing Price of the Common Stock on NASDAQ on the Trading Day immediately preceding the date of the Exercise Notice. 
 C = the Warrant Price then in effect for the applicable Warrant Shares at the time of such exercise. 
 5. Compliance with the Securities Act. Neither this Warrant nor the Common Stock issued upon exercise hereof nor any other security issued or
issuable upon exercise of this Warrant may be offered or sold except as provided in this Warrant and in conformity with the Securities Act, and then only against receipt of an agreement of such person to whom such offer of sale is made to comply
with the provisions of this Section 5 with respect to any resale or other disposition of such security. The Company may cause the legend set forth on the first page of this Warrant to be set forth on each Warrant or similar legend on the
Warrant Shares or any other security issued or issuable upon exercise of this Warrant until the Warrant Shares have been registered for resale, unless counsel for the Company is of the opinion as to any such security that such legend is unnecessary.

 6. Payment of Taxes. The Company will pay any documentary stamp taxes attributable to the initial issuance of Warrant Shares
issuable upon the exercise of the Warrant; provided, however, that the Company shall not be required to pay any tax or taxes which may be payable in respect of any transfer involved in the issuance or delivery of any certificates for Warrant Shares
in a name other than that of the registered holder of this Warrant in respect of which such shares are issued. The holder shall be responsible for income taxes due under federal or state law, if any such tax is due. 
 7. Mutilated or Missing Warrants. In case this Warrant shall be mutilated, lost, stolen, or destroyed, the Company shall issue in exchange and
substitution of and upon cancellation of the mutilated Warrant, or in lieu of and substitution for the Warrant lost, stolen or destroyed, a new Warrant of like tenor and for the purchase of a like number of Warrant Shares, but only upon receipt of
evidence reasonably satisfactory to the Company of such loss, theft or destruction of the Warrant, and with respect to a lost, stolen or destroyed Warrant, reasonable indemnity or bond with respect thereto, if reasonably requested by the Company.

 8. Reservation of Common Stock. The Company hereby represents and warrants that there have been reserved, and the Company shall at
all applicable times keep reserved, out of the authorized and unissued Common Stock, a number of shares sufficient to provide for the exercise of the rights of purchase represented by the Warrant in full (without 

  

 3 

 
regard to any restrictions on beneficial ownership contained herein), and the transfer agent for the Common Stock, including every subsequent transfer agent
for the Common Stock or other shares of the Company’s capital stock issuable upon the exercise of any of the right of purchase aforesaid (“Transfer Agent”), shall be irrevocably authorized and directed at all times to reserve
such number of authorized and unissued shares of Common Stock as shall be requisite for such purpose. The Company agrees that all Warrant Shares issued upon exercise of the Warrant in accordance with its terms shall be, at the time of delivery of
the certificates for such Warrant Shares, duly authorized, validly issued, fully paid and non-assessable shares of Common Stock of the Company. 
 9. Warrant Price. The Warrant Price, subject to adjustment as provided in Section 10 hereof, shall, if payment is made in cash or by certified check, be payable in lawful money of the United States of America. 
 10. Adjustment of Warrant Exercise Price and Number of Shares. If the Company at any time after the date of issuance of this Warrant subdivides
(by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Warrant Price in effect immediately prior to such subdivision will be
proportionately reduced and the number of shares of Common Stock obtainable upon exercise of this Warrant will be proportionately increased. If the Company at any time after the date of issuance of this Warrant combines (by combination, reverse
stock split or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Warrant Price in effect immediately prior to such combination will be proportionately increased and the number of shares of
Common Stock obtainable upon exercise of this Warrant will be proportionately decreased. Any adjustment under this Section 10 shall become effective at the close of business on the date the subdivision or combination becomes effective.

 11. Replacement Warrants. The Company agrees that after any request from time to time of the Warrantholder and within ten
(10) business days upon the Company’s receipt of this Warrant, the Company shall deliver to such holder a new Warrant in substitution of this Warrant which is identical in all respects except that the then Warrant Price shall be
appropriately specified in the Warrant, and the Warrant shall specify the fixed number of Warrant Shares into which this Warrant is then exercisable. Such changes are intended not as amendments to the Warrant but only as clarification of the
adjustment in the preceding Section for convenience purposes, and such adjustments shall not affect any provisions concerning adjustments to the Warrant Price or number of Warrant Shares contained herein. 
 12. Fractional Interest. The Company shall not be required to issue fractions of Warrant Shares upon the exercise of the Warrant. If any fraction
of a Warrant Share would, except for the provisions of this Section, be issuable upon the exercise of the Warrant (or specified portions thereof), the Company shall round such calculation to the nearest whole number and disregard the fraction.

 13. Benefits. Nothing in this Warrant shall be construed to give any person, firm or corporation (other than the Company and the
Warrantholder) any legal or equitable right, remedy or claim, it being agreed that this Warrant shall be for the sole and exclusive benefit of the Company and the Warrantholder. 
  

 4 

 14. Notices to Warrantholder. Upon the happening of any event requiring an adjustment of the
Warrant Price, the Company shall forthwith give written notice thereof to the Warrantholder at the address appearing in the records of the Company, stating the adjusted Warrant Price and the adjusted number of Warrant Shares resulting from such
event and setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. In the event of a dispute with respect to any such calculation, the certificate of the Company’s independent certified
public accountants shall be conclusive evidence of the correctness of any computation made, absent manifest error. Failure to give such notice to the Warrantholder or any defect therein shall not affect the legality or validity of the subject
adjustment. 
 15. Identity of Transfer Agent. The Transfer Agent for the Common Stock is Bank of New York. Forthwith upon the
appointment of any subsequent transfer agent for the Common Stock or other shares of the Company’s capital stock issuable upon the exercise of the rights of purchase represented by the Warrant, the Company will fax to the Warrantholder a
statement setting forth the name and address of such transfer agent. 
 16. Notices. Any notice pursuant hereto to be given or made
by the Warrantholder to or on the Company shall be sufficiently given or made if delivered personally or by facsimile or if sent by an internationally recognized courier, addressed as follows: 
 Stereotaxis, Inc. 
 4320 Forest Park Avenue,
Suite 100 
 St. Louis, Missouri 63108 
 Fax: (314) 678-6110 
 Attention: Chief Financial Officer 
 or such other address as the Company may specify in writing by notice to the Warrantholder complying as to delivery with the terms of this Section 16. 
 Any notice pursuant hereto to be given or made by the Company to or on the Warrantholder shall be sufficiently given or made if personally delivered or if sent by an
internationally recognized courier service by overnight or two-day service, to the address set forth on the books of the Company or, as to each of the Company and the Warrantholder, at such other address as shall be designated by such party by
written notice to the other party complying as to delivery with the terms of this Section 16. 
 All such notices, requests, demands, directions and
other communications shall, when sent by courier, be effective two (2) days after delivery to such courier as provided and addressed as aforesaid. All faxes shall be effective upon receipt. 
  

 5 

 17. Registration Rights. The holder of this Warrant is entitled to the benefit of certain
registration rights in respect of the Warrant Shares as provided in the Purchase Agreement. 
 18. Successors. Subject to the
restrictions on transfer described in Section 21 below, all the covenants and provisions hereof by or for the benefit of the Warrantholder shall bind and inure to the benefit of its respective successors and assigns hereunder.

 19. Governing Law. This Warrant shall be deemed to be a contract made under the laws of the State of Delaware, without giving
effect to its conflict of law principles, and for all purposes shall be construed in accordance with the laws of said State. 
 20.
Absolute Obligation to Issue Warrant Shares. The Company’s obligations to issue and deliver Warrant Shares in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the holder hereof to
enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any person or entity or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any
breach or alleged breach by the holder hereof or any other Person of any obligation to the Company or any violation or alleged violation of law by the holder or any other Person, and irrespective of any other circumstance which might otherwise limit
such obligation of the Company to the holder hereof in connection with the issuance of Warrant Shares. The Company will at no time close its shareholder books or records in any manner which interferes with the timely exercise of this Warrant.

 21. Assignment, etc. The Warrantholder agrees that in no event will it make a transfer or disposition of any of this Warrant or
the Warrant Shares (other than pursuant to an effective registration statement under the Securities Act), unless and until (i) it shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement
of the circumstances surrounding the disposition and assurance that the proposed disposition is in compliance with all applicable laws, and (ii) if reasonably requested by the Company, at the expense of such Warrantholder or its transferee, it
shall have furnished to the Company an opinion of counsel, reasonably satisfactory to the Company, to the effect that such transfer may be made without registration under the Securities Act. Notwithstanding the foregoing, no formal notice or opinion
of counsel shall be required for the transfer by an Warrantholder to any of the following (each, a “Permitted Transferee”): (x) any partner of a Warrantholder or to a retired partner of a Warrantholder, who retires after the
date of this Warrant, (y) the estate of any such partner or a retired partner or for the transfer by gift, will or intestate succession of any partner to his spouse or lineal descendants or ancestors or (z) any entity which is a
wholly-owned subsidiary of the Warrantholder or which is under common control with the Warrantholder; provided, however, in all cases where no legal opinion is required that the transferee shall agree in writing to be subject to the terms of this
Warrant to the same extent as if it were the original Warrantholder hereunder. 
  

 6 

 IN WITNESS WHEREOF, the Company has caused this Common Stock Purchase Warrant to be duly executed as of
the date first written above. 
  

			
	STEREOTAXIS, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 7 

 STEREOTAXIS, INC. 
 WARRANT EXERCISE FORM 
 Stereotaxis, Inc. 
 4320 Forest Park Avenue, Suite 100 
 St. Louis, Missouri 63108 
 Fax: (314) 678-6110 
 Attention: Chief Financial Officer 
 This undersigned hereby irrevocably elects to exercise the right of purchase represented by the Common Stock Purchase Warrant (“Warrant”) for, and to
purchase thereunder                              shares of Common Stock (“Warrant
Shares”) provided for therein, and requests that certificates for the Warrant Shares be issued as follows: 
  

			
	 Name:
	 	  

	 Address:
	 	  

		 	  

		 	  

 and, if the number of Warrant Shares shall not be all the Warrant Shares purchasable upon exercise of the Warrant,
that a new Warrant for the balance of the Warrant Shares. 
  

					
	Dated:	 	  
	 	
			
	Signature:	 	  
	 	
			
	Print Name:	 	  
	 	
			
	Address:

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