Document:

Alsius Corp Form of Common Stock Warrant.

 Exhibit 10.14 
 THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE, AND MAY BE OFFERED, SOLD, PLEDGED OR HYPOTHECATED ONLY IF REGISTERED AND QUALIFIED
PURSUANT TO THE RELEVANT PROVISIONS OF FEDERAL AND STATE SECURITIES LAWS OR IF THE COMPANY IS PROVIDED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT REGISTRATION AND QUALIFICATION UNDER FEDERAL AND STATE SECURITIES LAWS IS NOT
REQUIRED OR IF THE COMPANY OTHERWISE SATISFIES ITSELF THAT REGISTRATION IS NOT REQUIRED. 
 WARRANT TO PURCHASE SHARES OF COMMON STOCK

 OF 
 ALSIUS CORPORATION,

 A CALIFORNIA CORPORATION 
 Date of Grant:
April 30, 2003 
 This certifies that for the purchase price paid, the undersigned holder of this Warrant (the “Original
Holder”) and any person to whom the interest in this Warrant is lawfully transferred (the Original Holder hereof and such transferees referred to hereinafter as the “Holder”), is entitled to purchase up to that number of shares of
Common Stock (as hereinafter defined) as determined pursuant to Section 1(b) hereof, pursuant to the terms of this Warrant. “Common Stock” means the Common Stock of Alsius Corporation, a California corporation (the
“Company”). This Warrant is being issued in connection with a series of convertible promissory notes issued by the Company on the Date of Grant of this Warrant (such notes, together with and notes having substantially the same terms that
are later issued, the “Bridge Notes”). The Bridge Notes are automatically convertible into preferred stock of the Company (the “Series F Preferred Stock”) upon a financing with certain triggering events (such financing triggering
the automatic conversion of the Bridge Notes, a “Qualified Financing”). 
 1. Exercise of Warrant. 
 (a) Exercise Price; Aggregate Exercise Price. The exercise price at which this Warrant may be exercised shall be equal to ten percent (10%) of the
price per share of Series F Preferred Stock paid in the Qualified Financing or, if no Qualified Financing occurs prior to the earlier of (i) the maturity date of the Bridge Notes (including any extension thereof in accordance with the terms of
the Bridge Notes) (the “Maturity Date”) or (ii) the consummation of a Sale Transaction (as defined in the Bridge Notes), the exercise price at which this Warrant may be exercised shall be equal to $0.207 (the “Exercise
Price”). The initial “Aggregate Exercise Price” will be the amount resulting from multiplying the Exercise Price times the total number of shares of the Common Stock that may be purchased upon exercise hereof. 
 (b) Number of Shares. Subject to the exercisability restrictions set forth in Section 1(c) hereof and as adjusted pursuant to Section 2 hereof,
this Warrant will entitle the Holder to purchase up to the number of shares of Common Stock equal to the quotient obtained by dividing forty percent (40%) of the original principal amount of the Holder’s Bridge Note by the Series F
Preferred Stock per share price; provided, however, that if no Qualified Financing occurs prior to the earlier of (i) the Maturity Date or (ii) the consummation of a Sale Transaction, this Warrant will entitle the Holder to purchase up to
the number of shares of Common Stock equal to the quotient obtained by dividing forty percent (40%) of the original principal amount of the Holder’s Bridge Note by $2.07. 

 (c) Exercise Period. This Warrant shall become exercisable on the earliest to occur of (i) a
Qualified Financing in which the Bridge Notes automatically convert into Series F Preferred Stock, (ii) the Maturity Date and (iii) immediately prior to a Sale Transaction, provided such exercise of this Warrant shall be conditioned upon
the closing of a Sale Transaction (“Exercise Date”). This Warrant will be exercisable for a period of five (5) years from the Exercise Date. 
 (d) Method of Exercise; Payment. The purchase right represented by this Warrant may be exercised by the Holder, in whole or in part, for up to the total number of shares remaining available for exercise by the
surrender of this Warrant (with the notice of exercise form attached hereto as Annex I duly executed) at the principal office of the Company and by payment to the Company, by: (i) check made payable to the Company drawn on a United States bank
and for United States funds, (ii) delivery to the Company of evidence of cancellation of indebtedness of the Company to such Holder, or (iii) any combination thereof, of an amount in each case equal to the then applicable Exercise Price
per share multiplied by the number of shares of Common Stock then being purchased. Upon partial exercise, the Company shall promptly issue an amended warrant representing the remaining number of shares purchasable hereunder. All other terms and
conditions of such amended warrant shall be identical to those contained herein, including, but not limited to the effective date hereof. 
 (e) Net Exercise. In the event that the Company’s Common Stock is then traded on a national securities exchange or admitted to unlisted trading privileges on such an exchange, or is listed on the National Market (the “National
Market”) of the National Association of Securities Dealers Automated Quotations System (the “Nasdaq”) or other over-the-counter quotation system, then the Holder may elect to receive, without the payment by the Holder of any
additional consideration, shares equal to the value of this Warrant, or any portion hereof, by the surrender of this Warrant or such portion to the Company (with the notice of exercise form attached hereto as Annex I duly executed). Thereupon, the
Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: 
  

					
	 X
	 	=	  	Y (A - B)
	 	  	      A
			
	 Where: X
	 	=	  	The number of shares of Common Stock to be issued to the Holder pursuant to this net exercise;
			
	 Y
	 	=	  	The number of shares of Common Stock in respect of which the net issue election is made;
			
	 A
	 	=	  	The fair market value of one share of the Company’s Common Stock at the time the net issue election is made;
			
	 B
	 	=	  	The Exercise Price in effect under this Warrant at the time the net issuance election is made pursuant to this Section 1(e).

 For purposes of this Section 1(e), the fair market value of one share of the Company’s
Common Stock as of a particular date shall be determined as follows: (i) if traded on a securities exchange or through the Nasdaq National Market, the value shall be deemed to be the average of the closing prices of the securities on such
exchange for the ten (10) trading days ending on the trading day prior to the net exercise election; and (ii) if traded over-the-counter, the value shall be deemed to be the average of the closing bid or sale prices (whichever is
applicable) for the ten (10) trading days ending on the trading day prior to the net exercise. 

 (f) Issuance of New Warrant. In the event of any exercise of the purchase right represented by this
Warrant, certificates for the shares of Common Stock so purchased will be delivered to the Holder within fifteen (15) business days after receipt of such payment and, unless this Warrant has been fully exercised or has expired, a new warrant
representing the portion of the shares of Common Stock, if any, with respect to which this Warrant will not then have been exercised will also be issued to the Holder within a fifteen (15) business day period. 
 2. Adjustment of Number and Kind of Securities and Adjustment of Exercise Price. The number and kind of securities purchasable upon the exercise of this
Warrant, and the Exercise Price, will be subject to adjustment from time to time upon the occurrence of certain events, as follows: 
 (a)
Reclassification, Reorganization, Consolidation or Merger. In case of any reclassification of the Common Stock of the Company, or any reorganization, consolidation or merger of the Company with or into another corporation (other than a merger or
reorganization with respect to which the Company is the continuing corporation and which does not result in any reclassification of the Common Stock), the Company, or such successor corporation, as the case may be, will execute and deliver to the
Holder a new warrant in substitution for this Warrant which will provide that the Holder will have the right to exercise such new warrant and upon such exercise to receive, in lieu of each share of Common Stock issuable upon exercise of this
Warrant, the number and kind of securities, money and property receivable upon such reclassification, reorganization, consolidation or merger by a holder of shares of Common Stock of the Company for each share of Common Stock. Such new warrant will
provide for adjustments which will be as nearly equivalent as may be practicable to the adjustments provided for in this Section 2 including, without limitation, adjustments to the Exercise Price and to the number of shares issuable upon
exercise of this Warrant. The provisions of this Section 2(a) will similarly apply to successive reclassifications, reorganizations, consolidations or mergers. 
 (b) Split, Subdivision or Combination of Shares. If the Company at any time while this Warrant remains outstanding and unexpired splits, subdivides or combines its Common Stock, the Exercise Price will be
proportionately decreased in the case of a split or subdivision or proportionately increased in the case of a combination. Any adjustment under this Section 2(b) will become effective when the split, subdivision or combination becomes
effective. 
 (c) Stock Dividends. If the Company at any time while this Warrant remains outstanding and unexpired will pay a dividend with
respect to the Common Stock payable in shares of Common Stock, securities convertible into or exchangeable for Common Stock (“Convertible Securities”), the Exercise Price will be adjusted, from and after the date of determination of the
shareholders entitled to receive such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such date of determination by a fraction (i) the numerator of which will be the total
number of shares of Common Stock outstanding immediately prior to such dividend or distribution, and (ii) the denominator of which will be the total number of shares of Common Stock outstanding immediately after such dividend or distributions
(including shares of Common Stock issuable upon exercise, conversion or exchange of any Convertible Securities issued as a dividend or distribution). If the Convertible Securities issued as such dividend or distributions by their terms provided,
with the passage of time or otherwise, for any increase or decrease in the consideration payable to the Company, or any increase or decrease in the number of shares issuable upon exercise, conversion or exchange thereof any change of rate or
otherwise), the Exercise Price will, upon any such decrease or increase becoming effective, be reduced or increased to reflect such decrease or increase as if such decrease or increase became 

 
effective immediately prior to the issuance of the Convertible Securities as the dividend or distribution. Any adjustment under this Section 2(c) will
become effective on the record date or, if there is not record date, on the date of issuance. 
 (d) Adjustment of Number of Shares. Upon
each adjustment in the Exercise Price pursuant to this Section 2, the number of shares issuable upon exercise of this Warrant will be adjusted to the number obtained by dividing the then outstanding Aggregate Exercise Price by the Exercise
Price immediately after such adjustment. 
 3. Compliance With Securities Act; Transferability of Warrant. 
 (a) Legends. Any certificate for shares issued upon exercise hereof will be imprinted with a legend in substantially the form set forth in the Notice of
Exercise form attached hereto as Annex I. 
 (b) Restricted Securities. The Holder understands that the Warrant and the Common Stock that the
Holder is purchasing are characterized as “restricted securities” under the federal securities laws, inasmuch as they are being acquired from the Company in a transaction not involving a public offering, and that under such laws and
applicable regulations such securities may be resold without registration under the Securities Act of 1933, as amended (the “1933 Act”) only in certain limited circumstances. In this connection, the Holder is familiar with Rule 144, as
presently in effect, and understands the resale limitations imposed thereby and by the 1933 Act. The Holder understands Rule 144 is not currently available for the sale of the Common Stock and may never be so available. 
 (c) Transferability and Negotiability of Warrant. This Warrant may not be transferred or assigned in whole or in part, unless (i) there is then in
effect a registration statement (declared effective by the Securities and Exchange Commission (the “SEC”) and necessary state regulatory authorities) under the 1933 Act covering such proposed disposition and such disposition is made in
accordance with such registration statement; or (ii) the Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a brief statement of the circumstances surrounding the proposed disposition,
and if reasonably requested by the Company, the Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company that such disposition will not require registration of such shares under the 1933 Act;
provided however, no such registration or opinion shall be necessary for any transfer of this Warrant: (i) in compliance with Rule 144 or Rule 144A of the 1933 Act, (ii) by gift, will or intestate succession by the Holder to his or her
spouse or lineal descendants or ancestors or any trust for any of the foregoing or (iii) pursuant to a transfer to any partner, former partner, affiliate or the estate of any such partner of the Holder; provided that, in each of the foregoing
cases, the transferee agrees in writing to be subject to the terms of this Warrant. Subject to the provisions of this Section 3(c), title to this Warrant may be transferred in the same manner as a negotiable instrument transferable by
endorsement and delivery, by execution and delivery of a completed Assignment Form attached hereto as Annex II. 
 4. Representations and
Warranties of the Holder. The Holder hereby represents and warrants that: 
 (a) Authorization. The Holder has full power and authority to
enter into this Warrant, and this Warrant constitutes the valid and legally binding obligations of the Holder, enforceable in accordance with its terms. 
 (b) Purchase Entirely for Own Account. This Warrant and the Common Stock issuable upon exercise of this Warrant (collectively, the “Securities”) will be acquired for investment for the Holder’s own
account, not as a nominee 

 
or agent, and not with a view to the resale or distribution of any part thereof, and the Holder has no present intention of selling, granting any
participation in or otherwise distributing the same. The Holder does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participation in any of the Securities to such person or to any third
person. 
 (c) Disclosure of Information. The Holder believes that the Holder has received all the information the Holder considers necessary
or appropriate for deciding whether to purchase this Warrant. The Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering and sale of the Securities. 
 (d) Investment Experience. The Holder is an investor in securities of companies in the development stage and acknowledges that the Holder is able to fend
for himself and bear the economic risk of its investment, including the complete loss thereof, and has such knowledge and experience in financial or business matters that the Holder is capable of evaluating the merits and risks of the investment in
the Securities. The Holder acknowledges that the Company currently is seeking investors to participate in a proposed offering of the Company’s securities, but there can be no assurances that the Company will find financing on acceptable terms,
if at all. The Holder has not been organized for the purpose of acquiring the Securities. 
 (e) Accredited Investor. The Holder is an
“accredited investor” within the meaning of Rule 501 of Regulation D, as presently in effect, promulgated under the 1933 Act. 
 5.
Market Stand-Off Agreement. The Holder agrees, so long as the Holder holds at least one percent (1%) of the Company’s outstanding voting equity securities, in connection with the Company’s initial public offering of the Company’s
securities that, upon request of the Company or the underwriters managing any underwritten offering of the Company’s securities, not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any Common
Stock of the Company (other than those included in the registration) without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed one hundred eighty (180) days in the case of
a Qualified IPO (as hereinafter defined) and not to exceed ninety (90) days, or one hundred twenty (120) days if the Holder holds ten percent (10%) of the outstanding stock of the Company, in the case of any other public offering)
from the effective date of such registration as may be requested by the underwriters; provided, that all other Holders of at least one percent (1%) of the Company’s outstanding voting equity securities and all of the officers and directors
of the Company who own stock of the Company also agree to such restrictions. A “Qualified IPO” shall mean a firm underwritten public offering by the Company of its Common Stock, with net proceeds of at least $20,000,000 and with a price
per share of at least $4.80 (as adjusted for any stock splits, stock dividends, recapitalizations or the like), prior to the deduction of underwriting commissions and offering expenses. 
 6. Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction, or mutilation of this Warrant
and, in the case of loss, theft, or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and substance to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company at its
expense shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor and amount. 
 7. Reservation of Stock. The Company
covenants that during the term this Warrant is exercisable, the Company will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of Common Stock upon the exercise of this Warrant and, from
time to time, will take all steps necessary to amend its Certificate of Incorporation to provide 

 
sufficient reserves of shares of Common Stock issuable upon exercise of the Warrant. The Company agrees that its issuance of this Warrant shall constitute
full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Common Stock upon the exercise of this Warrant. 
 8. Notices. In case: 
 (a) the Company shall
take a record of the holders of its Common Stock (or other stock or securities at the time receivable upon the exercise of this Warrant) for the purpose of entitling them to receive any dividend or other distribution, or any right to subscribe for
or purchase any shares of stock of any class or any other securities, or to receive any other right, or 
 (b) of any capital reorganization
of the Company, any reclassification of the capital stock of the Company, any consolidation or merger of the Company with or into another corporation, or any conveyance of all or substantially all of the assets of the Company to another corporation,
or 
 (c) of any voluntary dissolution, liquidation of winding-up of the Company, then, and in each such case, the Company will mail or cause
to be mailed to the Holder or Holders a notice specifying, as the case may be, (A) the date on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character of such dividend,
distribution or right, or (B) the date on which such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding-up is to take place, and the time, if any is to be fixed, as of which the holders of
record of Common Stock (or such stock or securities at the time receivable upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or securities) for securities or other property deliverable
upon such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding-up. Such notice shall be mailed at least fifteen (15) days prior to the date therein specified. 
 9. Rights of Shareholders. The Holder shall not be entitled to vote or receive dividends or be deemed the holder of Common Stock or any other securities
of the Company that may at any time be issuable on the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a shareholder of the Company or any right to vote for
the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par
value, or change of stock to no par value, consolidation, merger, conveyance, or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or otherwise until the Warrant shall have been exercised and the shares of
Common Stock purchasable upon the exercise hereof shall have been issued, as provided herein. 
 10. Fractional Shares. No fractional shares
will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company will make a cash payment therefor upon the basis of the Exercise Price then in effect. 
 11. Assignment. This Warrant applies to, inures to the benefit of, and binds the successors and assigns of the parties hereto. Any transfer of this
Warrant will be effected only by surrender of this Warrant to the Company and reissuance of a new note to transferee. The Holder and any subsequent holder(s) of this Warrant receive this Warrant subject to the foregoing items and conditions, and
agree to comply with the foregoing terms and conditions for the benefit of the Company and any other holders. 

 12. Notices. Any notice, request or other communication required or permitted hereunder shall be in
writing and shall be deemed to have been duly given (i) when received, if personally delivered, faxed, sent by nationally recognized courier or U.S. Mail return-receipt requested, or (ii) on the third (3rd) business day after deposit
in the U.S. Mail, if sent by first-class mail, in any such case to the address of the Holder set forth below and to the Company at Alsius Corporation, 15570 Laguna Canyon Road, Suite 150, Irvine, California 92618, fax (949) 753-1819, Attention:
President. Any party hereto may by notice so given change its address for future notice hereunder. 
 13. Warrant Register. This Warrant is
transferable only upon the books of the Company which it shall cause to be maintained for such purpose. The Company may treat the registered holder of this Warrant as he, she or it appears on the Company’s books at any time as the Holder for
all purposes. 
 14. Amendment, Waiver, Etc. The terms of this Warrant may be amended or waived only upon the written agreement of the
Company and the Holder; provided, however, that during the time (and only during the time) the Bridge Notes are outstanding, the terms of this Warrant and all of the other Warrants issued by the Company in connection with the Bridge Notes may be
amended or waived upon the written agreement of the Company and the holders of a majority or more of the aggregate principal amount of all Bridge Notes (the “Majority Holders”), whether or not the Holder of this Warrant agrees thereto, as
long as such amendment or waiver is the same for all Warrants. Any such amendment or waiver agreed to by the Company and the Majority Holders during the time the Bridge Notes are outstanding will be binding on the holders of all Warrants. Amendments
or waivers to which the Company and the Majority Holders may agree, and which will be binding on holders of all Warrants, include, but are not limited to, (i) shortening the term of the Warrants, (ii) changing the exercise price of the
Warrants, or (iii) reducing the number of shares for which the Warrants are exercisable (as long as such reduction is proportionally the same for each Warrant holder based on the shares covered by such holder’s Warrant relative to the
shares covered by all Warrants). 
 15. Heading; References. All headings used herein are used for convenience only and shall not be used to
construe or interpret this Warrant. Except where otherwise indicated, all references herein to Sections refer to Sections hereof. 
 16.
Severability. If any provision or set of provisions of this Warrant (or any portion thereof) is held by an arbitrator or court of competent jurisdiction to be invalid, illegal or unenforceable for any reason whatever: (a) such provision shall
be limited or modified in its application to the minimum extent necessary to avoid the invalidity, illegality or unenforceability of such provision and such modified provision shall be reduced to a writing and signed by the parties hereto;
(b) the validity, legality and enforceability of the remaining provisions of this Warrant shall not in any way be affected or impaired thereby; and (c) to the fullest extent possible, the provisions of this Warrant shall be construed so as
to give effect to the intent manifested by the provision (or portion thereof) held invalid, illegal or unenforceable. 
 17. Effect of
Amendment or Waiver. Each Holder acknowledges that by the operation of Section 14 hereof, less than all of the Holders of Warrants (or such transferees of Warrants) may effect an amendment or waiver of provisions of the Warrants and may
therefore diminish or eliminate all rights of such Holder under this Warrant even though such Holder has not consented to the amendment or waiver. 
 18. Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of California, without regards to its conflict of laws provisions. 

 IN WITNESS WHEREOF, the undersigned have caused this Warrant to be executed by the undersigned as of the
date first set forth above. 
  

			
	ALSIUS CORPORATION
		
	By:	 	  

		 	William Worthen
		 	President & CEO
		
	HOLDER:	 	
		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	Address:	 	  

		 	  

		 	  

	Fax:	 	  

	Phone:	 	  

 ANNEX I 
 TO WARRANT 
 Stock Warrant Notice of Exercise 
 Ladies/Gentlemen: 
 On this date the undersigned,
                                        ,
hereby acquires from Alsius Corporation, a California corporation (the “Company”), an aggregate of
                                        
shares of Common Stock, as defined in the Warrant which is exercised hereby (the “Restricted Securities”). 
 1. Investment Intent. The undersigned
represents and warrants that: 
 (a) The Restricted Securities have been acquired by the undersigned for investment and not with a view to the
sale or other distribution thereof within the meaning of the Securities Act of 1933, as amended (the “1933 Act”) and the undersigned has no present intention of selling or otherwise disposing of all or any portion of the Restricted
Securities. 
 (b) The undersigned has acquired the Restricted Securities for the undersigned’s own account and no one else has any
beneficial ownership in the Restricted Securities. 
 2. Restrictions on Transfer. The undersigned understands that: 
 (a) In reliance upon the representations and warranties set forth herein, the Restricted Securities have not been registered with the Securities and
Exchange Commission (the “SEC”), and accordingly may not be offered, sold or otherwise transferred except in compliance with the 1933 Act (including any exemptions from registration thereunder); 
 (b) The undersigned must bear the economic risk of the undersigned’s investment in the Restricted Securities indefinitely unless and until the
Restricted Securities are registered pursuant to the 1933 Act or, in the opinion of counsel in form and substance satisfactory to the Company, an exemption from the registration requirement is available; 
 (c) The undersigned cannot be assured that any exemption from the registration requirement will be available should the undersigned desire to transfer
the Restricted Securities, and, therefore, the undersigned may not be able to dispose of or otherwise transfer the Restricted Securities, under the circumstances, in the amounts, or at the time proposed by the undersigned; and 
 (d) Rule 144 promulgated under the 1933 Act, which provides for certain limited, routine sales of unregistered securities, is not presently available
with respect to the Restricted Securities, and the Company is under no obligation to furnish the information that might be necessary to enable the undersigned to sell any of the Restricted Securities under Rule 144. 
 3. Legend and Stop-Transfer Orders. The undersigned understands that, if required by applicable federal securities laws at the date of issuance of the Restricted
Securities, certifies or other instruments representing any of the Restricted Securities acquired by the undersigned will bear a legend substantially similar to the following, in addition to any other legends required by federal or state laws, or by
any contractual agreement binding upon the undersigned with respect to the Restricted Securities: 
 THE SECURITIES EVIDENCED HEREBY HAVE NOT
BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE, AND MAY BE OFFERED, SOLD, PLEDGED OR HYPOTHECATED ONLY IF REGISTERED AND QUALIFIED PURSUANT TO THE RELEVANT PROVISIONS OF FEDERAL AND
STATE SECURITIES LAWS OR IF THE COMPANY IS PROVIDED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT REGISTRATION AND QUALIFICATION UNDER FEDERAL AND STATE SECURITIES LAWS IS NOT REQUIRED OR IF THE COMPANY OTHERWISE SATISFIES ITSELF
THAT REGISTRATION IS NOT REQUIRED. 
 The undersigned agrees that, to ensure and enforce compliance with the restrictions imposed by
applicable law and those referred to in the foregoing legend, or elsewhere herein, the Company may issue appropriate “stop transfer instructions to its transfer agent, if any, with respect to any certificate or other instrument representing
Restricted Securities, or if the Company transfers its own securities, that it may make appropriate notation to the same effect in the Company’s records. 

 Notwithstanding the legend above, no registration statement or opinion of counsel shall be necessary for
any transfer of Restricted Securities: (i) in compliance with Rule 144 or Rule 144A of the 1933 Act, (ii) by gift, will or intestate succession by the Holder to his or her spouse or lineal descendants or ancestors or any trust for any of
the foregoing or (iii) pursuant to a transfer to any partner, former partner, affiliate or the estate of any such partner of the Holder; provided that, in each of the foregoing cases, the transferee agrees in writing to be subject to the terms
of the Warrant. 
  

			
	  

	(Printed name if entity)
	(Signature of Individual)
	
	(Please fill in and sign below only if entity):
		
	By:	 	  

		 	(Signature)

			
		
	Printed name:	 	  

			
	Its:	 	  

	Date:	 	  

 ANNEX II 
 TO WARRANT 
 ASSIGNMENT FORM FOR ALSIUS CORPORATION 
 STOCK WARRANT 
 TO ASSIGN THE FOREGOING WARRANT, EXECUTE THIS FORM AND SUPPLY REQUIRED
INFORMATION. DO NOT USE THIS FORM TO EXERCISE THE WARRANT TO PURCHASE SHARES. 
 PLEASE NOTE: THE WARRANT HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE APPLICABLE STATE SECURITIES LAWS. THE WARRANT IS SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE WARRANT. 
 FOR VALUE RECEIVED, the foregoing Warrant for the purchase of capital stock of Alsius Corporation and all rights evidenced thereby are hereby assigned to 
 Name of assignee: ____________________________________________________________________________________ 
 Address of assignee: ____________________________________________________________________________________ 
                                      
 ____________________________________________________________________________________ 
 Date:________________________________ 
 Assigning Holder’s Name:____________________________________________________________________________________ 
 Assigning Holder’s Signature: ____________________________________________________________________________________ 
 Assigning Holder’s Address: ____________________________________________________________________________________ 
                                        
               ____________________________________________________________________________________ 
 The name and signature of the assigning Holder must be exactly the same as the Holder’s name appears on the face of the assigned warrant, without alteration or enlargement or any change whatever. Officers of
corporations and those acting in fiduciary or their representative capacity should file with this Assignment proper evidence of their authority to so act.Preferred Stock Warrant

 Exhibit 10.15 
 PREFERRED STOCK WARRANT 
 NEITHER THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH RULE 144 UNDER SAID ACT OR WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR THE HOLDER,
SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION. 
 WARRANT TO PURCHASE SHARES OF SERIES F PREFERRED STOCK 
 Dated: May 31, 2005 
 THIS CERTIFIES THAT, for value received, Oxford Finance Corporation, (“Holder”) is entitled to subscribe for and purchase that number of shares as set forth in
paragraph 1 below of the fully paid and non-assessable Series F Preferred Stock (the “Shares” or the “Preferred Stock”) of Alsius Corporation, a California corporation (the “Company”), at the Warrant Price (as
hereinafter defined), subject to the provisions and upon the terms and conditions hereinafter set forth. As used herein, the term “Series F Preferred Stock” shall mean the Company’s presently authorized Series F Preferred Stock, and
any stock into which such Series F Preferred Stock may hereafter be exchanged. 
 1. Warrant Price. The Warrant Price shall initially be the lower of
(i) Three Dollars ($3.00) per share and (ii) the lowest effective price per share (on a common stock equivalent basis and taking into account any securities issued together with the preferred stock) at which shares of the Company’s
convertible preferred stock are sold in the next Qualified Financing; provided, however, if the Qualified Financing has not closed prior to the exercise of this Warrant, then the Warrant Price shall be Three Dollars ($3,00) per share. A
“Qualified Financing” shall mean the sale of the convertible preferred stock of the Company to purchasers which include venture capital investors in an aggregate gross cash amount not less than $2,000,000 (excluding any bridge debt
actually converted into equity.). The number of shares for which this Warrant is exercisable shall be the nearest whole number determined by dividing $350,000 by the Warrant Price determined pursuant to this paragraph 
 2. Conditions to Exercise. The purchase right represented by this Warrant may be exercised at any time, or from time to time, in whole or in part during the term
commencing on the date hereof and ending on the earlier of: 
  

	 	(a)	5:00 P.M. Eastern Standard time on the eighth annual anniversary of this Warrant Agreement; or 

  

	 	(b)	the earlier termination of this Warrant pursuant to Section 3(e). 

 In the event that, although the Company shall have given notice of a transaction pursuant to subparagraph [3(e)] hereof, the transaction does not close within 60 days of the day specified by the Company, unless
otherwise elected by the Holder any exercise of the Warrant subsequent to the giving of such notice shall be rescinded and the Warrant shall again be exercisable until terminated in accordance with this Paragraph 2. 
 3. Method of Exercise; Payment; Issuance of Shares; Issuance of New Warrant. 
  

	 	(a)	 Cash Exercise. Subject to Section 2 hereof, the purchase right represented by this Warrant may be exercised by the Holder hereof, in whole or in part, by the
surrender of this Warrant (with a duly 

	 	 
executed Notice of Exercise in the form attached hereto) at the principal office of the Company (as set forth in Section 18 below) and by payment to the
Company, by check, of an amount equal to the then applicable Warrant Price per share multiplied by the number of shares then being purchased. In the event of any exercise of the rights represented by this Warrant, certificates for the shares of
stock so purchased shall be in the name of, and delivered to, the Holder hereof, or as such Holder may direct (subject to the terms of transfer contained herein and upon payment by such Holder hereof of any applicable transfer taxes). Such delivery
shall be made within 10 business days after exercise of the Warrant and at the Company’s expense and, unless this Warrant has been fully exercised or expired, a new Warrant having terms and conditions substantially identical to this Warrant and
representing the portion of the Shares, if any, with respect to which this Warrant shall not have been exercised, shall also be issued to the Holder hereof within 10 business days after exercise of the Warrant. 

  

	 	(b)	Net Issue Exercise. In lieu of exercising this Warrant pursuant to Section 3(a), Holder may elect to receive shares equal to the value of this Warrant (or of any portion
thereof remaining unexercised) by surrender of this Warrant at the principal office of the Company together with notice of such election, in which event the Company shall issue to Holder the number of shares of the Company’s Series
             Preferred Stock computed using the following formula: 

  

					
	 X
	 	 =
	  	Y (A-B)
	 	  	    A

 Where X = the number of shares of Series F Preferred Stock to be issued to Holder. 
 Y = the number of shares of Series F Preferred Stock purchasable under this Warrant (at the date of such calculation). 
 A = the Fair Market Value of one share of the Company’s Series F Preferred Stock (at the date of such calculation). 
 B = Warrant Exercise Price (as adjusted to the date of such calculation). 
  

	 	(c)	Fair Market Value. For purposes of this Section 3, Fair Market Value of one share of the Company’s Series F Preferred Stock shall mean: 

  

	 	(i)	If the Common Stock is traded on NASDAQ or Over-The-Counter or on an exchange, the per share Fair Market Value for the Series F Preferred Stock will be the average of the closing
bid and asked prices of the Common Stock quoted in the Over-The-Counter Market Summary or the closing price quoted on any exchange on which the Common Stock is listed, whichever is applicable, as published in the Western Edition of The Wall Street
Journal for the ten (10) trading days prior to the date of determination of Fair Market Value multiplied by the number of shares of Common Stock into which each share of Series F Preferred Stock is then convertible; or 

 

	 	(ii)	In the event of an exercise in connection with a merger, acquisition or other consolidation in which the Company is not the surviving entity, the per share Fair Market Value for the
Series F Preferred Stock shall be the value to be received per share of Series F Preferred Stock by all Holders of the Series F Preferred Stock in such transaction as determined by the Board of Directors; or 

	 	(iii)	In any other instance, the per share Fair Market Value for the Series F Preferred Stock shall be as determined in good faith by the Company’s Board of Directors unless Holder
elects to have such fair market value determined by an appraiser, which election must be made by Holder within ten (10) business days of the date the Company notifies Holder of the fair market value as determined by its Board of Directors. In
the event of such an appraisal, the cost thereof shall be borne by the Holder unless such appraisal results in a fair market value in excess of 115% of that determined by the Company’s Board of Directors, in which event the Company shall bear
the cost of such appraisal. 

 In the event of 3(c)(ii) or 3(c)(iii), above, the Company’s Board of
Directors shall prepare a certificate, to be signed by an authorized Officer of the Company, setting forth in reasonable detail the basis for and method of determination of the per share Fair Market Value of the Series Preferred Stock. The Board
will also certify to the Holder that this per share Fair Market Value will be applicable to all holders of the Company’s Series F Preferred Stock. Such certification must be made to Holder at least fifteen (15) business days prior to the
proposed effective date of the merger, consolidation, sale, or other triggering event as defined in 3(c)(ii) and 3(c)(iii). 
  

	 	(d)	Automatic Exercise. To the extent this Warrant is not previously exercised, it shall be automatically exercised in accordance with Sections 3(b) and 3(c) hereof (even if not
surrendered) immediately before its expiration. 

  

	 	(e)	Treatment of Warrant Upon Acquisition of Company. 

  

	 	(i)	Upon the written request of the Company, Holder agrees that, in the event of an Acquisition (as defined below) in which the sole consideration is cash, either (a) Holder shall
exercise its conversion or purchase right under this Warrant and such exercise will be deemed effective immediately prior to the consummation of such Acquisition or (b) if Holder elects not to exercise the Warrant, this Warrant will expire upon
the consummation of such Acquisition. The Company shall provide the Holder with written notice of its request relating to the foregoing (together with such reasonable information as the Holder may request in connection with such contemplated
Acquisition giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 

  

	 	(ii)	Upon written request of the Company, Holder agrees that, in the event of a stock for stock Acquisition of the Company by a publicly traded acquirer if, on the record date for the
Acquisition, the fair market value of the Shares (or other securities issuable upon exercise of this Warrant) is equal to or greater than four [4] times the Warrant Price, Company may require the Warrant to be deemed automatically exercised and the
Holder shall participate in the Acquisition as a holder of the Shares (or other securities issuable upon exercise of the Warrant) on the same terms as other holders of the same class of securities of the Company. 

  

	 	(iii)	 Upon the closing of any Acquisition other than those particularly described in subsections (i) or (ii) above, the successor entity shall assume the
obligations of the Warrant, and the Warrant shall be exercisable for the same securities, cash, 

	 	 
and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the
record date for the Acquisition and subsequent closing. The Warrant Price and/or number of Shares shall be adjusted accordingly. 

  

	 	(iv)	For the purpose of this Warrant, “Acquisition” means any sale, license, or other disposition of all or substantially all of the assets of the Company, or any
reorganization, consolidation, or merger of the Company where the holders of the Company’s securities before the transaction beneficially own less than 50% of the outstanding voting securities of the surviving entity after the transaction,
other than in connection with an initial public offering. 

 4. Representations and Warranties of Holder and
Restrictions on Transfer Imposed by the Securities Act of 1933. 
  

	 	(a)	Representations and Warranties by Holder. The Holder represents and warrants to the Company with respect to this purchase as follows: 

  

	 	(i)	The Holder has substantial experience in evaluating and investing in private placement transactions of securities of companies similar to the Company so that the Holder is capable
of evaluating the merits and risks of its investment in the Company and has the capacity to protect its interests. 

  

	 	(ii)	The Holder is acquiring the Warrant and the Shares of Series F Preferred Stock issuable upon exercise of the Warrant and Common Stock issuable upon conversion thereof (collectively
the “Securities”) for investment for its own account and not with a view to, or for resale in connection with, any distribution thereof. The Holder understands that the Securities have not been registered under the Securities Act of 1933,
as amended (the “Act”) by reason of a specific exemption from the registration provisions of the Act, which depends upon, among other things, the bona fide nature of the investment intent as expressed herein. In this connection, the Holder
understands that, in the view of the Securities and Exchange Commission (the “SEC”), the statutory basis for such exemption may be unavailable if this representation was predicated solely upon a present intention to hold the Securities for
the minimum capital gains period specified under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Securities or for a period of one year or any other fixed period in the future.

  

	 	(iii)	The Holder acknowledges that the Securities must be held indefinitely unless subsequently registered under the Act or an exemption from such registration is available. The Holder is
aware of the provisions of Rule 144 promulgated under the Act (“Rule 144”) which permits limited resale of securities purchased in a private placement subject to the satisfaction of certain conditions, including, in case the securities
have been held for more than one but less than two years, the existence of a public market for the shares, the availability of certain public information about the Company, the resale occurring not less than one year after a party has purchased and
paid for the security to be sold, the sale being through a “broker’s transaction” or in a transaction directly with a “market maker” (as provided by Rule 144(f)) and the number of shares or other securities being sold during
any three-month period not exceeding specified limitations. 

	 	(iv)	The Holder further understands that at the time the Holder wishes to sell the Securities there may be no public market upon which such a sale may be effected, and that even if such
a public market exists, the Company may not be satisfying the current public information requirements of Rule 144, and that in such event, the Holder may be precluded from selling the Securities under Rule 144 unless a) a one-year minimum holding
period has been satisfied and b) the Holder was not at the time of the sale nor at any time during the three-month period prior to such sale an affiliate of the Company. 

  

	 	(v)	The Holder has had an opportunity to discuss the Company’s business, management and financial affairs with its management and an opportunity to review the Company’s
facilities. The Holder 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. 

  

	 	(vi)	The Holder is an “accredited investor,” as such term is defined in Rule 501(a) promulgated under the Act. 

  

	 	(b)	Legends. Each certificate representing the Securities shall be endorsed with the following legend: 

 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE TRANSFERRED UNLESS COVERED BY AN EFFECTIVE
REGISTRATION STATEMENT UNDER SAID ACT, A “NO ACTION” LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION WITH RESPECT TO SUCH TRANSFER, A TRANSFER MEETING THE REQUIREMENTS OF RULE 144 OF THE SECURITIES AND EXCHANGE COMMISSION, OR (IF
REASONABLY REQUIRED BY THE COMPANY) AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY SUCH TRANSFER IS EXEMPT FROM SUCH REGISTRATION. 
 The Company need not enter into its stock register a transfer of Securities unless the conditions specified in the foregoing legend are satisfied. The Company may also instruct its transfer agent not to register the
transfer of any of the Shares unless the conditions specified in the foregoing legend are satisfied. 
  

	 	(c)	Removal of Legend and Transfer Restrictions. The legend relating to the Act endorsed on a certificate pursuant to paragraph 4(b) of this Warrant and the stop transfer instructions
with respect to the Securities represented by such certificate shall be removed and the Company shall issue a certificate without such legend to the Holder of the Securities if (i) the Securities are registered under the Act and a prospectus
meeting the requirements of Section 10 of the Act is available or (ii) the Holder provides to the Company an opinion of counsel for the Holder reasonably satisfactory to the Company, or a no-action letter or interpretive opinion of the
staff of the SEC reasonably satisfactory to the Company, to the effect that public sale, transfer or assignment of the Securities may be made without registration and without compliance with any restriction such as Rule 144.

 5. Condition of Transfer or Exercise of Warrant. It shall be a condition to any transfer or exercise of this Warrant that at the time of
such transfer or exercise, the Holder shall provide the Company with a representation in writing that the Holder or transferee is acquiring this Warrant and the shares of Series 

 
F Preferred Stock to be issued upon exercise, for investment purposes only and not with a view to any sale or distribution,, or will provide the Company with
a statement of pertinent facts covering any proposed distribution and a written agreement that such Holder or transferee agrees to be bound by the provisions of this Warrant. As a further condition to any transfer of this Warrant or any or all of
the shares of Series F Preferred Stock issuable upon exercise of this Warrant, other than a transfer registered under the Act, the Company must have received a legal opinion, in form and substance satisfactory to the Company and its counsel,
reciting the pertinent circumstances surrounding the proposed transfer and stating that such transfer is exempt from the registration and prospectus delivery requirements of the Act. Each certificate evidencing the shares issued upon exercise of the
Warrant or upon any transfer of the shares (other than a transfer registered under the Act or any subsequent transfer of shares so registered) shall, at the Company’s option, contain a legend in form and substance satisfactory to the Company
and its counsel, restricting the transfer of the shares to sales or other dispositions exempt from the requirements of the Act. 
 As further
condition to each transfer, the Holder shall surrender this Warrant to the Company and the transferee shall receive and accept a Warrant, of like tenor and date, executed by the Company. 
 6. Stock Fully Paid; Reservation of Shares. All Shares which may be issued upon the exercise of the rights represented by this Warrant will, upon issuance, be fully paid and non-assessable, and free from all taxes,
liens, and charges with respect to the issue thereof. During the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved for issuance upon exercise of the purchase
rights evidenced by this Warrant, a sufficient number of shares of its Series F Preferred Stock to provide for the exercise of the rights represented by this Warrant. 
 7. (a) Adjustment for Certain Events. In the event of changes in the outstanding Series F Preferred Stock by reason of stock dividends, split-ups, recapitalizations, reclassifications, mergers, consolidations,
combinations or exchanges of shares, separations, reorganizations, liquidations, or the like, the number and class of shares available under the Warrant in the aggregate and the Warrant Price shall be correspondingly adjusted, as appropriate, by the
Board of Directors of the Company. The adjustment shall be such as will give the Holder of this Warrant upon exercise for the same aggregate Warrant Price the total number, class and kind of shares as it would have owned had the Warrant been
exercised prior to the event and had it continued to hold such shares until after the event requiring adjustment. 
 (b) Other Anti-dilution
Protections. Additional anti-dilution rights applicable to the Series F Preferred Stock purchasable hereunder are as set forth in the Certificate of Incorporation. Such anti-dilution rights shall not be restated, amended, modified or waived in any
manner that is adverse to the Holder hereof and different from other holders of Series F Preferred Stock without the Holder’s written consent. The Company shall promptly provide the Holder with any restatement, amendment, modification or waiver
of the Certification of Incorporation. 
 8. Notice of Adjustments. Whenever any Warrant Price shall be adjusted pursuant to Section 7 hereof, the
Company shall prepare a certificate signed by its president or chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the
Warrant Price and number of shares issuable upon exercise of the Warrant after giving effect to such adjustment, and shall cause copies of such certificate to be mailed (by certified or registered mail, return receipt required, postage prepaid)
within thirty (30) days of such adjustment to the Holder of this Warrant as set forth in Section 19 hereof. 

 9. “Market Stand-Off” Agreement. Holder hereby agrees that for a period of up to 180 days following the
effective date of the first registration statement of the Company covering common stock (or other securities) to be sold on its behalf of the Company in an underwritten public offering, it will not, to the extent requested by the Company and any
underwriter, sell or otherwise transfer or dispose of (other than to designees or transferees who agree to be similarly bound) any of the Shares at any time during such period except common stock included in such registration; provided, however,
that all officers and directors of the Company who hold securities of the Company or all other persons who own at least one percent (1%) of the Company’s outstanding voting equity securities enter into similar agreements. 
 10. Transferability of Warrant. This Warrant is transferable on the books of the Company at its principal office by the registered Holder hereof upon surrender of this
Warrant properly endorsed, subject to compliance with Section 5 and applicable federal and state securities laws. The Company shall issue and deliver to the transferee a new Warrant representing the Warrant so transferred. Upon any partial
transfer, the Company will issue and deliver to Holder a new Warrant with respect to the Warrant not so transferred. Holder shall not have any right to transfer any portion of this Warrant to any direct competitor of the Company. 
 11. Registration Rights. The Holder shall have piggyback registration rights. 
 12. No Fractional Shares. No fractional share of Series F Preferred Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional share the Company shall make a cash payment therefor upon the basis of the
Warrant Price then in effect. 
 13. Charges, Taxes and Expenses. Issuance of certificates for shares of Series F Preferred Stock upon the exercise of this
Warrant shall be made without charge to the Holder for any United States or state of the United States documentary stamp tax or other incidental expense with respect to the issuance of such certificate, all of which taxes and expenses shall be paid
by the Company, and such certificates shall be issued in the name of the Holder. 
 14. No Shareholder Rights Until Exercise. This Warrant does not entitle
the Holder hereof to any voting rights or other rights as a shareholder of the Company prior to the exercise hereof. 
 15. Registry of Warrant. The Company
shall maintain a registry showing the name and address of the registered Holder of this Warrant. This Warrant may be surrendered for exchange or exercise, in accordance with its terms, at such office or agency of the Company, and the Company and
Holder shall be entitled to rely in all respects, prior to written notice to the contrary, upon such registry. 
 16. Loss, Theft, Destruction or Mutilation
of Warrant. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant, and, in the case of loss, theft, or destruction, of indemnity reasonably satisfactory to it, and, if
mutilated, upon surrender and cancellation of this Warrant, the Company will execute and deliver a new Warrant, having terms and conditions substantially identical to this Warrant, in lieu hereof. 
 17. Miscellaneous. 
  

	 	(a)	Issue Date. The provisions of this Warrant shall be construed and shall be given effect in all respect as if it had been issued and delivered by the Company on the date hereof.

	 	(b)	Successors. This Warrant shall be binding upon any successors or assigns of the Company. 

  

	 	(c)	Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia. 

  

	 	(d)	Headings. The headings used in this Warrant are used for convenience only and are not to be considered in construing or interpreting this Warrant. 

  

	 	(e)	Saturdays, Sundays, Holidays. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday or a Sunday or
shall be a legal holiday in the Commonwealth of Virginia., then such action may be taken or such right may be exercised on the next succeeding day not a legal holiday. 

 18. No Impairment. The Company shall not by any action including, without limitation, amending its Sections or articles of incorporation or by-laws, any reorganization, transfer of assets, consolidation, merger, share
exchange dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of the Warrants or impair the ability of the Holder(s) to realize upon the intended economic
value hereof, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate to protect the rights of the Holder(s) hereof against impairment. Without limiting
the generality of the foregoing, the Company will (a) not increase the par value of any shares of Series F Preferred Stock issuable upon the exercise of the Warrants above the amount payable therefor upon such exercise, (b) take all such
action as may be necessary or appropriate in order that the Company may validly issue fully paid and non-assessable shares of Series F Preferred Stock upon the exercise of the Warrants, (c) obtain all such authorizations, exemptions or consents
from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under the Warrants and (d) not reclassify or convert common stock and (f) not take or permit to be taken any
action which would have the effect of shortening the period provided herein for exercise of the Warrants. 
 19. Addresses. Any notice required or permitted
hereunder shall be in writing and shall be mailed by overnight courier, registered or certified mail, return receipt required, and postage pre-paid, or otherwise delivered by hand or by messenger, addressed as set forth below, or at such other
address as the Company or the Holder hereof shall have furnished to the other party. 
  

			
	If to the Company:	 	Alsius Corporation
		 	15770 Laguna Canyon Road, Suite 150
		 	 Irvine, California 92618
 Attn:
President

		
		 	 With a copy to:
 Pillsbury Winthrop Shaw Pittman
LLP
 650 Town Center Drive, 7th Floor
 Costa Mesa, California
92626
 Attn: Ethan D. Feffer, Esq.

		
	If to the Holder:	 	Oxford Finance Corporation
		 	 133 N. Fairfax Street
 Alexandria, VA 22314
 Attn: Chief Financial Officer

 IN WITNESS WHEREOF,Alsius Corporation has caused this Warrant to be executed by its officers thereunto duly
authorized. 
 Dated as of May 31, 2005. 
  

			
	ALSIUS CORPORATION
		
	By:	 	 /s/ William Worthen

	Name:	 	William Worthen
	Title:	 	President & CEO

 NOTICE OF EXERCISE 
  

	 	TO:	Alsius Corporatin 

	 	    	15770 Laguna Canyon Road, Suite 150 

	 	    	Irvine, California 92618 

	 	    	Attn: President 

 1. The undersigned Warrantholder (“Holder”)
elects to acquire shares of the Series F Preferred Stock (the “Preferred Stock”) of Alsius Corporation, (the “Company”), pursuant to the terms of the Stock Purchase Warrant dated May 31, 2005, (the “Warrant”).

 2. The Holder exercises its rights under the Warrant as set forth below: 
  

	 	 ̈	The Holder elects to purchase              shares of Series F Preferred Stock as provided in Section 3(a),
(c) and tenders herewith a check in the amount of $             as payment of the purchase price. 

  

	 	 ̈	The Holder elects to convert the purchase rights into shares of Series F Preferred Stock as provided in Section 3(b) of the Warrant. 

 3. The Holder surrenders the Warrant with this Notice of Exercise. 
 4. The
Holder represents that it is acquiring the aforesaid shares of Series F Preferred Stock for investment and not with a view to, or for resale in connection with, distribution and that the Holder has no present intention of distributing or reselling
the shares. 
 Holder acknowledges and agrees to be bound by the provisions of the Warrant, including, without limitation, the Market
Stand-off Agreement contained therein. 
 5. Please issue a certificate representing the shares of the Series F Preferred Stock in the name of the Holder or
in such other name as is specified below: 
  

			
	Name:	 	  

	Address:	 	  

	Taxpayer I.D.:	 	  

  

			
	Oxford Finance Corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	Date:

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