Document:

Exhibit 10.15 to Biodrain Medical, Inc. Form S-1

Exhibit 10.15 

CONVERTIBLE DEBENTURE

	
 

	
 

	
 

	
699
 Minnetonka Highlands Lane

	
 

	
Orono, MN
 55356-9728

	
 

	
 

	
                    $1,000.00

	
February 2, 2007     

          FOR
VALUE RECEIVED, the undersigned, “BioDrain Medical,
Inc.,” a Minnesota company (“Maker”),
hereby promises to pay to the order of Kevin R. Davidson (“Payee”), at the address of Payee
specified below, the principal sum of one thousand dollars ($1,000.00), in
lawful money of the United States of America, together with interest thereon,
at the rate set forth below.

          1.
The principal of and interest upon this Note shall be due and payable as
follows: 

	
 

	
 

	
 

	
 

	
(a)

	
This Note
 shall bear interest at a per annum rate of interest of 8.25% based upon a
 year of 365 days and actual days elapsed.

	
 

	
 

	
 

	
 

	
(b)

	
The entire
 unpaid principal balance of this Note and accrued interest hereunder shall be
 due and payable in full no later than July 31, 2007, the Maturity Date

          2.
Convertibility terms: The
debenture is convertible to BioDrain common stock at $1.00 per share.

          The
undersigned may at any time prepay all or any portion of the principal or
interest owing hereunder.

          Maker
hereby waives presentment, demand, notice of dishonor, protest, notice of
protest and all other demands, protests and notices in connection with the
execution, delivery, performance, collection and enforcement of this Note.
Payee shall have full recourse against the undersigned, and shall not be
required to proceed against the assets of the Maker in the event of default.
Maker shall pay all costs of collection when incurred, including reasonable
attorneys’ fees, costs and expenses.

          This
Note is being delivered in, is intended to be performed in, shall be construed
and interpreted in accordance with, and be governed by the internal laws of,
the State of Minnesota, without regard to principles of conflict of laws.

	
 

	
 

	
 

	
 

	
BIODRAIN
 MEDICAL, INC.

	
 

	
Kevin R.
 Davidson

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	

	
 

	 

	
 

	 

	
 

	
 

	
 

	
 

	
Title:

	
 

	
 

	
16771
 Ironwood Circle

 Lakeville, MN 55044Exhibit 10.16 to Biodrain Medical, Inc. Form S-1

Exhibit 10.16 

CONVERTIBLE DEBENTURE

	
 

	
 

	
 

	
699
 Minnetonka Highlands Lane

	
 

	
Orono, MN
 55356-9728

	
 

	
 

	
                    $1,000.00

	
February 2, 2007     

          FOR VALUE RECEIVED, the undersigned,
“BioDrain Medical, Inc.,” a Minnesota company (“Maker”), hereby promises to pay
to the order of Peter L. Morawetz (“Payee”), at the address of Payee specified
below, the principal sum of one thousand dollars ($1,000.00), in lawful money
of the United States of America, together with interest thereon, at the rate
set forth below.

          1.
The Principal of and interest upon this Note shall be due and payable as
follows:

	
 

	
 

	
 

	
 

	
(a)

	
This Note
 shall bear interest at a per annum rate of interest of 8.25% based upon a
 year of 365 days and actual days elapsed.

	
 

	
 

	
 

	
 

	
(b)

	
The entire
 unpaid principal balance of this Note and accrued interest hereunder shall be
 due and payable in full no later than July 31, 2007, the Maturity Date

          2.
Convertibility terms: The
debenture is convertible to BioDrain common stock at $1.00 per share.

          The
undersigned may at any time prepay all or any portion of the principal or
interest owing hereunder.

          Maker
hereby waives presentment, demand, notice of dishonor, protest, notice of
protest and all other demands, protests and notices in connection with the
execution, delivery, performance, collection and enforcement of this Note.
Payee shall have full recourse against the undersigned, and shall not be
required to proceed against the assets of the Marker in the event of default. Maker shall pay all costs of collection
when incurred, including reasonable attorneys’ fees, costs and expenses.

          This
Note is being delivered in, is intended to be performed in, shall be construed
and interpreted in accordance with, and be governed by the internal laws of,
the State of Minnesota, without regard to principles of conflict of laws.

	
 

	
 

	
 

	
 

	
BIODRAIN
 MEDICAL, INC.

	
 

	
Peter L.
 Morawetz

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	

	
 

	 

	
 

	 

	
 

	
 

	
 

	
 

	
Title:

	
 

	
 

	
5037 Faberge
 Place

 Sarasota, MN 34233

	
 

	 

	
 

	
 

	
 

	
 

	
 

	
9/21/07Exhibit 10.17 to Biodrain Medical, Inc. Form S-1

Exhibit 10.17 

CONVERTIBLE
DEBENTURE

	
 

	
 

	
 

	
699 Minnetonka Highlands Lane

	
 

	
Orono, MN 55356-9728

	
 

	
 

	
             $1,000.00

	
February 2, 2007            

          FOR
VALUE RECEIVED, the undersigned, “BioDrain Medical, Inc.,” a
Minnesota company (“Maker”),
hereby promises to pay to the order of Andrew P. Reding (“Payee”), at the address of Payee specified
below, the principal sum of one thousand dollars ($1,000.00), in lawful money
of the United States of America, together with interest thereon, at the rate
set forth below.

	
 

	
 

	
 

	
 

	
 

	
1. 

	
The principal of and interest upon this Note shall
be due and payable as follows:

	
 

	
 

	
 

	
 

	
 

	
 

	
(a)

	
This Note shall bear interest at a per annum rate of interest of 8.25% based
upon a year of 365 days and actual days elapsed. 

	
 

	
 

	
 

	
 

	
 

	
 

	
(b)

	
The entire unpaid principal balance of this Note and accrued interest hereunder
shall be due and payable in full no later than July31, 2007, the Maturity Date

	
 

	
 

	
 

	
 

	
 

	
2.

	

Convertibility terms: The
debenture is convertible to BioDrain common stock at $1.00 per share.

          The
undersigned may at any time prepay all or any portion of the principal or
interest owing hereunder.

          Maker
hereby waives presentment, demand, notice of dishonor, protest, notice of
protest and all other demands, protests and notices in connection with the
execution, delivery, performance, collection and enforcement of this Note.
Payee shall have full recourse against the undersigned, and shall not be
required to proceed against the assets of the Maker in the event of default. Maker
shall pay all costs of collection when incurred, including reasonable
attorneys’ fees, costs and expenses.

          This
Note is being delivered in, is intended to be performed in, shall be construed
and interpreted in accordance with, and be governed by the internal laws of,
the State of Minnesota, without regard to principles of conflict of laws.

	
 

	
 

	
 

	
 

	
BIODRAIN MEDICAL, INC.

	
 

	
Andrew P. Reding

	
 

	
 

	
 

	
 

	
By: 

	
  /s/ Kevin R. Davidson

	
 

	
/s/ Andrew P. Reding

	
 

	 

	
 

	 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Title:

	 
  President & CEO

	
 

	
2036 Blessing Court

Mt. Pleasant, SC 29464Exhibit 10.18 to Biodrain Medical, Inc. Form S-1

Exhibit 10.18 

CONVERTIBLE DEBENTURE

	
 

	
 

	
 

	
 699 Minnetonka Highlands Lane

	
 

	
 Orono, MN 55356-9728

	
 

	
 

	
                    $1,000.00

	
January 30, 2007     

          FOR VALUE RECEIVED, the undersigned,
“BioDrain Medical, Inc.,” a Minnesota company (“Maker”), hereby promises to pay to the order of Thomas J.
McGoldrick (“Payee”), at the
address of Payee specified below, the principal sum of one thousand dollars
($1, 000.00), in lawful money of the United States of America, together with
interest thereon, at the rate set forth below.

          1.
The principal of and interest upon this Note
shall be due and payable as follows:

	
 

	
 

	
 

	
 

	
(a)

	
This Note
 shall bear interest at a per annum rate of interest of 8.25% based upon a
 year of 365 days and actual days elapsed.

	
 

	
 

	
 

	
 

	
(b)

	
The entire
 unpaid principal balance of this Note and accrued interest hereunder shall be
 due and payable in full no later than July 31, 2007, the Maturity Date

	
 

	
 

	
 

	
2. Convertibility terms: The debenture is
convertible to BioDrain common stock at $1.00 per share. On price at next sale
which ever is lower.

          The
undersigned may at any time prepay all or any portion of the principal or
interest owing hereunder.

          Maker hereby waives presentment, demand, notice of
dishonor, protest, notice of protest and all other demands, protests and
notices in connection with the execution, delivery, performance, collection and
enforcement of this Note. Payee shall have full recourse against the
undersigned, and shall not be required to proceed against the assets of the
Maker in the event of default. Maker shall pay all costs of collection when
incurred, including reasonable attorneys’ fees, costs and expenses.

          This
Note is being delivered in, is intended to be performed in, shall be construed
and interpreted in accordance with, and be governed by the internal laws of,
the State of Minnesota, without regard to principles of conflict of laws.

	
 

	
 

	
 

	
 

	
BIODRAIN MEDICAL, INC.

	
 

	
Thomas J.
 McGoldrick

	
 

	
 

	
 

	
 

	
By:

	

	
 

	

	
 

	 

	
 

	 

	
 

	
 

	
 

	
 

	
Title:

	
CFO

	
 

	
19575 W.
 Chimo

 Wayzata, MN 55391Exhibit 10.19 to Biodrain Medical, Inc. Form S-1

Exhibit 10.19 

CONVERTIBLE DEBENTURE

	
 

	
 

	
 

	
699
 Minnetonka Highlands Lane 

	
 

	
Orono, MN
 55356-9728

	
 

	
 

	
                    $10,000.00

	
September 29, 2006     

          FOR
VALUE RECEIVED, the undersigned, “BioDrain Medical,
Inc.,” a Minnesota company (“Maker”), hereby promises to pay to the order of
Andcor Companies Inc.. (“Payee”), at the address of Payee specified below, the
principal sum of Ten thousand dollars ($10,000.00), in lawful money of the
United States of America, together with interest thereon, at the rate set forth
below.

          1.
The principal of and interest upon this Note shall be due and payable as follows:

	
 

	
 

	
 

	
 

	
(a)

	
This Note
 shall bear interest at a per annum rate of interest of 10.25% based upon a
 year of 365 days and actual days elapsed.

	
 

	
 

	
 

	
 

	
(b)

	
The entire
 unpaid principal balance of this Note and accrued interest hereunder shall be
 due and payable in full no later than “March 31, 2007” (the “Maturity Date”)

          2.
Convertibility and warrant terms:

	
 

	
 

	
 

	
 

	
(a)

	
The
 debenture is convertible to BioDrain common stock at $.90 per share or the
 price per share at which the next equity financing is completed, whichever is
 lower.

	
 

	
 

	
 

	
 

	
(b)

	
Maker hereby
 grants to Payee warrants to purchase 10,000 shares of BioDrain common stock
 at $1.00 per share or the price per share at which the next equity financing
 is completed, whichever is lower. The exercise of such warrants is on a call basis
 for a period of five (5) years from the date of the debenture. Exercise must
 be in writing.

          The
undersigned may at any time prepay all or any portion of the principal or
interest owing hereunder.

          Maker
hereby waives presentment, demand, notice of dishonor, protest, notice of
protest and all other demands, protests and notices in connection with the
execution, delivery, performance, collection and enforcement of this Note.
Payee shall have full recourse against the undersigned, and shall not be
required to proceed against the assets

of the Maker
in the event of default. Maker shall pay all costs of collection when incurred,
including reasonable attorneys’ fees, costs and expenses.

          This
Note is being delivered in, is intended to be performed in, shall be construed
and interpreted in accordance with, and be governed by the internal laws of,
the State of Minnesota, without regard to principles of conflict of laws.

	
 

	
 

	
 

	
 

	
 

	
BIODRAIN
 MEDICAL, INC.

	
 

	
ANDCOR
 COMPANIES, INC.

	
 

	
 

	
 

	
 

	
 

	
By:

	

	
 

	
By:

	

	
 

	 

	
 

	
 

	 

	
 

	
 

	
 

	
 

	
 

	
Title:

	
CFO

	
 

	
Title:

	
CFO

	
 

	 

	
 

	
 

	 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
539 E. Lake
 Street 

 Wayzata, MN 55391

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