Document:

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                                                                   Exhibit 4.9

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED OR ANY APPLICABLE STATE SECURITIES LAW,
AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE
REGISTRATION THEREOF UNDER SUCH ACT OR PURSUANT TO RULE 144 AND REGISTRATION
UNDER OR AN EXEMPTION FROM APPLICABLE STATE SECURITIES LAW OR AN OPINION OF
COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION AND ITS COUNSEL THAT SUCH
REGISTRATION IS NOT REQUIRED.

THE SECURITIES REPRESENTED BY THIS WARRANT ARE SUBJECT TO CERTAIN RESTRICTIONS
ON TRANSFER AND VOTING AGREEMENTS CONTAINED IN THE AMENDED AND RESTATED
STOCKHOLDERS' AGREEMENT DATED AS OF NOVEMBER 21, 2001, A COPY OF WHICH IS ON
FILE AT THE PRINCIPAL OFFICE OF THE COMPANY.

                      WARRANT TO PURCHASE PREFERRED STOCK

Corporation: Stereotaxis, Inc., a Delaware corporation
Number of Shares: 50,692
Class of Stock: Series D-1 Preferred
Initial Exercise Price: $2.17 per share
Issue Date: January 31, 2002
Expiration Date: January 30, 2007

     THIS WARRANT CERTIFIES THAT, for the agreed upon value of $1.00 and for
other good and valuable consideration, SILICON VALLEY BANK ("Holder") is
entitled to purchase the number of fully paid and nonassessable shares of
the class of securities (the "Shares") of the corporation (the "Company") at
the initial exercise price per Share (the "Warrant Price") all as set forth
above and as adjusted pursuant to Article 2 of this Warrant, subject to the
provisions and upon the terms and conditions set forth in this Warrant.

ARTICLE 1. EXERCISE.

     1.1   Method of Exercise.  Holder may exercise this Warrant by delivering a
duly executed Notice of Exercise in substantially the form attached as Appendix
1 to the principal office of the Company. Unless Holder is exercising the
conversion right set forth in Section 1.2, Holder shall also deliver to the
Company a cashier's check for the aggregate Warrant Price for the Shares being
purchased.

     1.2  Conversion Right.  In lieu of exercising this Warrant as specified in
Section 1.1, Holder may from time to time convert this Warrant, in whole or in
part, into a number of Shares determined by dividing (a) the aggregate fair
market value of the Shares or other securities otherwise issuable upon exercise
of this Warrant minus the aggregate Warrant Price of such Shares by (b) the
fair market value of one Share. The fair market value of the Shares shall be
determined pursuant to Section 1.3.

     1.3  Fair Market Value.  If the Shares are traded in a public market, the
fair market value of the Shares shall be the closing price of the Shares (or
the closing price of the Company's stock into which the Shares are convertible)
reported for the business day immediately before Holder delivers its Notice of
Exercise to the Company. If the Shares are not traded in a public market, the
Board of Directors of the Company shall determine fair market value in its
reasonable good faith judgment.

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          1.4  Delivery of Certificate and New Warrant. Promptly after Holder
exercises or converts this Warrant, the Company shall deliver to Holder
certificates for the Shares acquired and, if this Warrant has not been fully
exercised or converted and has not expired, a new Warrant representing the
Shares not so acquired.

          1.5  Replacement of Warrants. 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 amount to the Company
or, in the case of mutilation, or surrender and cancellation of this Warrant,
the Company shall execute and deliver, in lieu of this Warrant, a new warrant
of like tenor.

          1.6  Assumption on Sale, Merger, or Consolidation of the Company.

               1.6.1 "Acquisition". 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.

               1.6.2 Assumption of Warrant. Upon the closing of any
Acquisition, the successor entity shall assume the obligations of this Warrant,
and this 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 Initial Exercise
Price and/or number of Shares shall be adjusted accordingly.

ARTICLE 2. ADJUSTMENTS TO THE SHARES.

          2.1  Stock Dividends, Splits, Etc. If the Company declares or pays a
dividend on its common stock (or the Shares if the Shares are securities other
than common stock) payable in common stock, or other securities, subdivides the
outstanding common stock into a greater amount of common stock, or, if the
Shares are securities other than common stock, subdivides the Shares in a
transaction that increases the amount of common stock into which the Shares
are convertible, then upon exercise of this Warrant, for each Share acquired,
Holder shall receive, without cost to Holder, the total number and kind of
securities to which Holder would have been entitled had Holder owned the Shares
of record as of the date the dividend or subdivision occurred. If the
outstanding shares are combined or consolidated, by reclassification or
otherwise, into a lesser number of shares, the Initial Exercise Price shall be
proportionately increased.

          2.2  Reclassification, Exchange, Combinations or Substitution. Upon
any reclassification, exchange, substitution, or other event that results in a
change of the number and/or class of the securities issuable upon exercise or
conversion of this Warrant, Holder shall be entitled to receive, upon exercise
or conversion of this Warrant, the number and kind of securities and property
that Holder would have received for the Shares if this Warrant had been
exercised immediately before such reclassification, exchange, substitution, or
other event. Such an event shall include any automatic conversion of the
outstanding or issuable securities of the Company of the same class or series
as the Shares to common stock pursuant to the terms of the Company's
Certificate of Incorporation upon the closing of a registered public offering
of the Company's common stock. The Company or its successor shall promptly
issue to Holder a new Warrant for such new securities or other property. The
new Warrant shall provide for adjustments which shall be as nearly equivalent
as may be practicable to the adjustments provided for in this Article 2
including, without limitation, adjustments to the Initial Exercise Price and
to the number of securities or property issuable upon exercise of the new
Warrant. The provisions of this Section 2.2 shall similarly apply to successive
reclassifications, exchanges, substitutions, or other events.

                                       2
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     2.3  No Impairment.  The Company shall not, by amendment of its
Certificate of Incorporation or through a reorganization, transfer of assets,
consolidation, merger, 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 to be observed or performed under this Warrant by the Company,
but shall at all times in good faith assist in carrying out of all the
provisions of this Article 2 and in taking all such action as may be necessary
or appropriate to protect Holder's rights under this Article against impairment.

     2.4  Fractional Shares.  No fractional Shares shall be issuable upon
exercise or conversion of the Warrant and the number of Shares to be issued
shall be rounded down to the nearest whole Share. If a fractional share
interest arises upon any exercise or conversion of the Warrant, the Company
shall eliminate such fractional share interest by paying Holder the amount
computed by multiplying the fractional interest by the fair market value of a
full Share.

     2.5  Certificate as to Adjustments.  Upon each adjustment of the Warrant
Price, the Company shall promptly notify Holder in writing, and, at the
Company's expense, promptly compute such adjustment, and furnish Holder with a
certificate of its Chief Financial Officer setting forth such adjustment and
the facts upon which such adjustment is based. The Company shall, upon written
request, furnish Holder a certificate setting forth the Warrant Price in effect
upon the date thereof and the series of adjustments leading to such Warrant
Price.

ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY.

     3.1  Representations and Warranties.  The Company represents and warrants
to the Holder as follows:

          (a)  The initial Warrant Price referenced on the first page of this
Warrant is not greater than (i) the price per share at which the Shares were
last issued in an arms-length transaction in which at least $500,000 of the
Shares were sold and (ii) the fair market value of the Shares (or such
preferred stock) as of the date of this Warrant.

          (b)  All Shares which may be issued upon the exercise of the purchase
right represented by this Warrant, and all securities, if any, issuable upon
conversion of the Shares, shall, upon issuance against full payment of the
Warrant Price therefor, be duly authorized, validly issued, fully paid and
nonassessable, and free of any liens and encumbrances except for restrictions
on transfer provided for herein, placed thereon by Holder or arising under
applicable federal and state securities laws.

          (c)  The Capitalization Table previously provided to Holder remains
substantially true and complete as of the Issue Date.

     3.2  Notice of Certain Events.  If the Company proposes at any time (a) to
declare any dividend or distribution upon its common stock, whether in cash,
property, stock, or other securities and whether or not a regular cash
dividend; (b) to offer for subscription pro rata to the holders of any class or
series of its stock any additional shares of stock of any class or series or
other rights; (c) to effect any reclassification or recapitalization of common
stock; (d) to merge or consolidate with or into any other corporation, or sell,
lease, license, or convey all or substantially all of its assets, or to
liquidate, dissolve or wind up; or (e) offer holders of registration rights the
opportunity to participate in an underwritten public offering of the company's
securities for cash, then, in connection with each such event, the Company
shall give Holder (1) at least 10 days prior written notice of the date on
which a record will be taken for such dividend, distribution, or subscription
rights (and specifying the date on which the holders of common stock will be
entitled thereto) or for determining rights to vote, if any, in respect of the
matters referred to in (c) and (d) above; (2) in the case of the matters
referred to in (c) and (d) above at least 10 days prior written notice of the
date when the same will take place (and specifying the date on which the
holders of common stock will be entitled to exchange their common stock for
securities or other property deliverable upon the occurrence of such event);
and (3) in the case of the matter referred to in (e) above, the same notice as
is given to the holders of such registration rights.

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     3.3  Registration Under Securities Act of 1933, as amended.  The Company
agrees that the Shares or, if the Shares are convertible into common stock of
the Company, such common stock, shall be subject to the so-called "S-3"
registration rights set forth in Section 4 1.9 of the Company's Third Amended
and Restated Investor Rights Agreement dated November 21, 2001 (the
"Registration Rights Agreement"), so long as the Company shall be eligible to
utilize Form S-3 under the 1933 Act. The provisions set forth in the
Registration Rights Agreement relating to the above in effect as of the Issue
Date may not be amended, modified or waived without the prior written consent
of Holder unless such amendment, modification or waiver affects Holder in the
same manner as they affect all other shareholders with S-3 registration rights
of the same type granted to the Holder.

ARTICLE 4. REPRESENTATIONS, WARRANTIES OF THE HOLDER.  The Holder represents
and warrants to the Company as follows:

     4.1  Purchase for Own Account.  Except for transfers to Holder's
affiliates, this Warrant and the securities to be acquired upon exercise of this
Warrant by the Holder will be acquired for investment for the Holder's account,
not as a nominee or agent, and not with a view to the public resale or
distribution within the meaning of the 1933 Act, and the Holder has no present
intention of selling, granting any participation in, or otherwise distributing
the same. If not an individual, the Holder also represents that the Holder has
not been formed for the specific purpose of acquiring this Warrant or the
Shares.

     4.2  Disclosure of Information.  The Holder has received or has had full
access to all the information it considers necessary or appropriate to make an
informed investment decision with respect to the acquisition of this Warrant
and its underlying securities. The Holder further has had an opportunity to ask
questions and receive answers from the Company regarding the terms and
conditions of the offering of this Warrant and its underlying securities and to
obtain additional information (to the extent the Company possessed such
information or could acquire it without unreasonable effort or expense)
necessary to verify any information furnished to the Holder or to which the
Holder has access.

     4.3  Investment Experience.  The Holder understands that the purchase of
this Warrant and its underlying securities involves substantial risk. The
Holder: (i) has experience as an investor in securities of companies in the
development stage and acknowledges that the Holder is able to fend for itself,
can bear the economic risk of such Holder's investment in this Warrant and its
underlying securities and has such knowledge and experience in financial or
business matters that the Holder is capable of evaluating the merits and risks
of its investment in this Warrant and its underlying securities and/or (ii) has
a preexisting personal or business relationship with the Company and certain of
its officers, directors or controlling persons of a nature and duration that
enables the Holder to be aware of the character, business acumen and financial
circumstances of such persons.

     4.4  Accredited Investor Status.  The Holder is an "accredited investor"
within the meaning of Regulation D promulgated under the 1933 Act.

     4.5  Stockholders Agreement.  The Holder acknowledges and agrees that upon
exercise or conversion of this Warrant into Shares, that the Holder shall be
subject to the terms and conditions of the Amended and Restated Stockholders'
Agreement dated November 21, 2001, as such agreement may be amended from time
to time, and as such agreement applies to holders of common stock of the
Company.

ARTICLE 5.  MISCELLANEOUS.

     5.1  Term.     This Warrant is exercisable in whole or in part at any time
and from time to time on or before the Expiration Date.

     5.2  Legends.  This Warrant and the Shares (and the securities issuable,
directly or indirectly, upon conversion of the Shares, if any) shall be
imprinted with a legend in substantially the following form:

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      THIS SECURITY AND ANY SECURITY ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR UNDER ANY APPLICABLE STATE
      LAWS, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN
      EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT, AN EXEMPTION UNDER SUCH ACT
      OR PURSUANT TO RULE 144 AND REGISTRATION UNDER OR AN EXEMPTION FROM
      APPLICABLE STATE SECURITIES LAW OR AN OPINION OF COUNSEL REASONABLY
      SATISFACTORY TO THE CORPORATION AND ITS COUNSEL THAT SUCH REGISTRATION IS
      NOT REQUIRED.

      THIS SECURITY IS SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND VOTING,
      INCLUDING THOSE CONTAINED IN THE AMENDED AND RESTATED STOCKHOLDERS'
      AGREEMENT DATED AS OF NOVEMBER 21, 2001, A COPY OF WHICH IS ON FILE AT THE
      PRINCIPAL OFFICE OF THE COMPANY.

      5.3  Compliance with Securities Laws on Transfer.  This Warrant and the
Shares issuable upon exercise of this Warrant (and the securities issuable,
directly or indirectly, upon conversion of the Shares, if any) may not be
transferred or assigned in whole or in part without compliance with applicable
federal and state securities laws by the transferor and the transferee
(including, without limitation, the delivery of investment representation
letters and legal opinions reasonably satisfactory to the Company, as reasonably
requested by the Company). The Company shall not require Holder to provide an
opinion of counsel if the transfer is to an affiliate of Holder or if there is
no material question as to the availability of current information as referenced
in Rule 144(c), Holder represents that it has complied with Rule 144(d) and (e)
in reasonable detail, the selling broker represents that it has complied with
Rule 144(f), and the Company is provided with a copy of Holder's notice of
proposed sale.

      5.4  Transfer Procedure.  Subject to the provisions of Section 5.3, Holder
may transfer all or part of this Warrant or the Shares issuable upon exercise of
this Warrant (or the securities issuable, directly or indirectly, upon
conversion of the Shares, if any) to Silicon Valley Bancshares or The Silicon
Valley Bank Foundation, or to any affiliate of Holder at any time without prior
notice to Company; provided, however, if Holder transfers this warrant to any
other transferee, Holder will give the Company notice of the portion of the
Warrant being transferred with the name, address and taxpayer identification
number of the transferee and surrendering this Warrant to the Company for
reissuance to the transferee(s) (and Holder if applicable). The Company may
refuse to transfer this Warrant (or the securities issuable, directly or
indirectly, upon  conversion of the Shares, if any) (a) to any person who
competes with the Company unless the Company's stock is publicly traded and (b)
in any manner or under any circumstances where a transfer of Series D Preferred
Stock by the existing holders of such Stock would be prohibited or restricted
under existing agreements with the Company.

      5.5  Notices.  All notices and other communications from the Company to
the Holder, or vice versa, shall be deemed delivered and effective when given
personally or mailed by first-class registered or certified mail, postage
prepaid, or by nationally-recognized overnight carrier, at such address as may
have been furnished to the Company or the Holder, as the case may be, in writing
by the Company or such holder from time to time. All notices to the Holder shall
be addressed as follows:

      Silicon Valley Bank
      Attn: Treasury Department
      3003 Tasman Drive, HG 110
      Santa Clara, CA 95054

      5.6  Waiver.  This Warrant and any term hereof may be changed, waived,
discharged or terminated only by an instrument in writing signed by the party
against which enforcement of such change, waiver, discharge or termination is
sought.

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         5.7      Attorney's Fees. In the event of any dispute between the
parties concerning the terms and provisions of this Warrant, the party
prevailing in such dispute shall be entitled to collect from the other party all
costs incurred in such dispute, including reasonable attorney's fees.

         5.8      Automatic Conversion upon Expiration. In the event that, upon
the Expiration Date, the fair market value of one share of the Shares (or other
security issuable upon the exercise hereof) as determined in accordance with
Section 1.3 above is greater than the Exercise Price in effect on such date,
then this Warrant shall automatically be deemed on and as of such date to be
converted pursuant to Section 1.2 above as to all applicable Shares (or such
other securities) for which it shall not  previously have been exercised or
converted, and the Company shall promptly deliver a certificate representing the
Shares (or other such securities) issued upon such conversion to the Holder.

         5.9      Governing Law. This Warrant shall be governed by and
construed in accordance with the laws of the State of Delaware, without giving
effect to its principles regarding conflicts of law.

         5.10.    No Stockholder Rights. This Warrant shall not entitle its
Holder to any of the rights of a stockholder of the Company until the Holder
has exercised this Warrant.

                                             "COMPANY"
                                             STEREOTAXIS, INC.

                                             By:  /s/ Nicola Young
                                                ------------------------------

                                             Name:    Nicola Young
                                                  ----------------------------

                                             Title:   CFO
                                                   ---------------------------

                                             "HOLDER"
                                             Silicon Valley Bank

                                             By:  /s/ Daniel Wallace
                                                ------------------------------

                                             Name:    Daniel Wallace
                                                  ----------------------------

                                             Title:   Vice President
                                                   ---------------------------

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                                   APPENDIX 1

                              NOTICE OF EXERCISE:

     1.   The undersigned hereby elects to purchase            shares of the
Series D-1 Preferred Stock of Stereotaxis Inc. pursuant to the terms of the
attached Warrant, and tenders herewith payment of the purchase price of such
shares in full.

or

     I.   The undersigned hereby elects to convert the attached Warrant into
Shares in the manner specified in the Warrant. This conversion is exercised
with respect to of the Shares covered by the Warrant.

     2.   Please issue a certificate or certificates representing said shares
in the name of the undersigned or in such other name as is specified below:

                        _______________________________
                                     (Name)

                        _______________________________

                        _______________________________
                                   (Address)

     3.   The undersigned represents it is acquiring the shares solely for its
own account and not as a nominee for any other party and not with a view
toward the resale or distribution thereof except in compliance with applicable
securities laws and that all representations and warranties made by it in
Article 4 of the Warrant are true as if made on the date hereof.

                                                 _______________________________
                                                      (Signature)

____________
  (Date)

441693v2

                                       7<PAGE>

                                                                    EXHIBIT 4.10

                                     WARRANT

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. NEITHER THIS WARRANT
NOR SUCH SECURITIES MAY BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN
THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER
SAID ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED.

                                STEREOTAXIS, INC.

                              COMMON STOCK WARRANT

                          VOID AFTER DECEMBER 31, 2007

ISSUED: _______________, 2002                                          CSW-_____

         1.       Warrant; Period of Exercise. Subject to the terms and
conditions herein set forth, __________________ or its assigns (the "Holder") is
hereby entitled to subscribe for and purchase ____________________ shares of the
fully paid and nonassessable shares of the Common Stock, par value $0.001 per
share (the "Common Stock") of the Company, at a price per share of $2.17 (as the
same may be adjusted pursuant to the terms and conditions set forth herein, the
"Warrant Price"). The Common Stock issuable upon exercise of this Warrant (the
"Shares") shall be entitled to registration rights pursuant to that certain
Fourth Amended and Restated Investor Rights Agreement, dated as of December ___,
2002 among the Company and certain securityholders of the Company named therein,
as the same may be hereafter amended, restated or otherwise modified. The
Warrants are exercisable at a price equal to the Warrant Price at any time from
and after _____________, 2002 but no later than the earlier of (i) December 31,
2007 and (ii) the date on which the Company consummates a Senior Preferred
Qualified IPO, as defined in Section 4(d)(ii) of Article V of the Company's
Amended and Restated Certificate of Incorporation, provided that if this Warrant
has not been exercised as of the date of any such Senior Preferred Qualified
IPO, then the Holder of this Warrant shall be deemed to have made an election to
effect a cashless exercise as of such date for all Shares issuable hereunder
pursuant to Section 5.B hereof. In the event of such a deemed exercise, the Fair
Market Value shall be equal to the net per share proceeds to the Company of the
Common Stock in such Senior Preferred Qualified IPO, after deduction of
underwriting commissions and discounts.

         2.       Fractional Shares. No fractional Shares will be issued in
connection with any exercise hereunder. In lieu of any fractional Shares which
would otherwise be issuable, the Company shall pay cash equal to the product of
such fraction multiplied by the Fair Market Value less the exercise price of one
share of the Common Stock on the date of exercise, as determined in good faith
by the Company's Board of Directors.

<PAGE>

         3.       No Stockholder Rights. This Warrant shall not entitle its
Holder to any of the rights of a stockholder of the Company until the Holder has
exercised this Warrant.

         4.       Reservation of Stock. The Company covenants that during the
period this Warrant is exercisable, the Company will reserve from its authorized
but unissued shares of Common Stock, a sufficient number of shares to provide
for the issuance of the Shares upon the exercise of this 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 the Shares.

         5.       Exercise of Warrant.

                  A.       Without limiting Section 5.B below, 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 the notice of exercise
form attached hereto as EXHIBIT A duly executed) at the principal executive
offices of the Company, and by the payment in full to the Company, by check or
other form of immediately available funds, of an amount equal to the then
applicable Warrant Price per share multiplied by the number of Shares then being
purchased. The person or persons in whose name(s) any certificate(s)
representing Shares shall be issuable upon exercise of this Warrant shall be
deemed to have become, and shall be treated for all purposes as, the record
Holder(s) of the Shares represented thereby (and such Shares shall be deemed to
have been issued) immediately prior to the close of business on the date or
dates upon which this Warrant is exercised. In the event of any exercise of the
rights represented by this Warrant, certificates for the Shares so purchased
shall be delivered to the Holder hereof as promptly as practicable following
such exercise, and, unless this Warrant has been fully exercised or expired, a
new Warrant representing the portion of the Shares, if any, with respect to
which this Warrant shall not then have been exercised shall also be issued to
the Holder hereof as promptly as practicable.

                  B.       Cashless Exercise. Notwithstanding anything to the
contrary contained in this Warrant, this Warrant may be exercised by
presentation and surrender of this Warrant to the Company at its principal
executive offices with a written notice of the Holder's intention to effect a
cashless exercise, including a calculation of the number of Shares to be issued
upon such exercise in accordance with the terms hereof. In the event of a
cashless exercise at the Holder's election (including a deemed election pursuant
to Section 1 hereof), in lieu of paying the Warrant Price in cash, the Holder
shall surrender this Warrant for that number of Shares of Common Stock
determined by multiplying the number of Shares to which it would otherwise be
entitled by a fraction, the numerator of which shall be the difference between
the then current Fair Market Value per share of Common Stock and the then
applicable Warrant Price and the denominator of which shall be the then current
Fair Market Value per share of the Common Stock. The "Fair Market Value" shall
mean (1) if the Shares are traded on an exchange or quoted on the National
Association of Securities Dealers Automated Quotations System ("NASDAQ"), the
closing price on the day before the exercise date, (2) if the Shares are not
traded on an exchange or on the NASDAQ National Market but are traded in the
over-the-counter market, the closing price on the day before the exercise date,
or (3) if the Shares are not traded on an exchange or on the NASDAQ National
Market or in the over-the-counter market, the Fair Market Value as determined in
good faith by the Board of Directors of the Company.

                                       2
<PAGE>

         6.       Adjustment of Warrant Price and Number of Shares. The number
and kind of securities purchasable upon the exercise of the Warrant and the
Warrant Price shall be subject to adjustment from time to time upon the
occurrence of certain events, as follows:

                  A.       Reclassification or Merger. In case of any
reclassification, change or conversion of securities of the class issuable upon
exercise of this Warrant (other than a change in par value, or from par value to
no par value, or from no par value to par value, or as a result of a subdivision
or combination), or in case of any merger of the Company with or into another
corporation (other than a merger with another corporation in which the Company
is a continuing corporation and which does not result in any reclassification or
change of outstanding securities issuable upon exercise of this Warrant), or in
case of any sale of all or substantially all of the assets of the Company, the
Company, or such successor or purchasing corporation, as the case may be, shall
execute a new Warrant providing that the Holder of this Warrant shall have the
right to exercise such new Warrant and upon such exercise to receive, in lieu of
each Share theretofore issuable upon exercise of this Warrant, the kind and
amount of shares of stock, other securities, money and property receivable upon
such reclassification, change or merger by a Holder of one share of stock
issuable upon the exercise hereof. Such new Warrant shall provide for
adjustments that shall be as nearly equivalent as may be practicable to the
adjustments provided for in this Section 6. The provisions of this paragraph 6.A
shall similarly apply to successive reclassifications, changes, mergers and
transfers.

                  B.       Subdivisions or Combination of Shares. If the Company
at any time while this Warrant remains outstanding and unexpired shall subdivide
or combine its stock, the Warrant Price and the number of Shares issuable upon
exercise hereof shall be proportionately adjusted.

                  C.       Stock Dividends. If the Company at any time while
this Warrant is outstanding and unexpired shall pay a dividend payable in shares
of stock (except any distribution specifically provided for in the foregoing
paragraphs 6.A and 6.B), then the Warrant Price shall be adjusted, from and
after the date of determination of stockholders entitled to receive such
dividend or distribution, to that price determined by multiplying the Warrant
Price in effect immediately prior to such date of determination by a fraction
(a) the numerator of which shall be the total number of shares of Common Stock
outstanding immediately prior to such dividend or distribution, assuming that
all convertible securities of the Company have been converted into shares of
Common Stock and (b) the denominator of which shall be the total number of
shares of Common Stock outstanding immediately after such dividend or
distribution, assuming that all convertible securities of the Company have been
converted into shares of Common Stock, and the number of Shares subject to this
Warrant shall be proportionately adjusted.

                  D.       No Impairment. The Company will not, by amendment of
its Amended and Restated Certificate of Incorporation or through any
reorganization, recapitalization, transfer of assets, consolidation, merger,
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 to be observed
or performed hereunder by the Company, but will at all times in good faith
assist in the carrying

                                       3
<PAGE>

out of all the provisions of this Section 6 and in the taking of all such action
as may be necessary or appropriate in order to protect the rights of the Holder
of this Warrant against impairment.

                  E.       Notices of Record Date. In the event of any taking by
the Company of a record of its stockholders for the purpose of determining
stockholders who are entitled to receive payment of any dividend (other than a
cash dividend) or other distribution, any right to subscribe for, purchase or
otherwise acquire any share of any class or any other securities or property, or
to receive any other right, or for the purpose of determining stockholders who
are entitled to vote in connection with any proposed merger or consolidation of
the Company with or into any other corporation, or any proposed sale, lease or
conveyance of all or substantially all of the assets of the Company, or any
proposed liquidation, dissolution or winding up of the Company, the Company
shall mail to the registered Holder, at least twenty (20) days prior to the date
specified therein, a notice specifying the date on which any such record is to
be taken for the purpose of such dividend, distribution or right, and the amount
and character of such dividend, distribution or right.

         7.       Notice of Adjustments. Whenever the Warrant Price shall be
adjusted pursuant to the provisions hereof, the Company shall within thirty (30)
days of such adjustment deliver a certificate signed by an executive officer to
the registered Holder(s) hereof 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 after giving effect to such
adjustment.

         8.       Compliance with Securities Laws.

                  A.       The Holder represents and agrees that this Warrant
(and the Shares, if the Warrant is exercised), are purchased only for
investment, for the Holder's own account, and without any present intention to
sell or distribute the Warrant or the Shares. The Holder further acknowledges
that the Shares will not be issued pursuant to the exercise of this Warrant
unless the exercise of the Warrant and the issuance and delivery of such Shares
shall comply with all relevant provisions of law, including, without limitation,
the Securities Act of 1933, as amended (the "1933 Act"), and other federal and
state securities laws and regulations and the requirements of any stock exchange
upon which the securities may then be listed.

                  B.       The Holder of this Warrant acknowledges and agrees
that this Warrant and the Shares have not been registered under the 1933 Act and
accordingly will not be transferable except as permitted under the various
exemptions contained in the 1933 Act, or upon satisfaction of the registration
and prospectus delivery requirements of the 1933 Act. Therefore, the Warrant and
Shares must be held indefinitely unless they are subsequently registered under
the 1933 Act, or an exemption from such registration is available. The Holder
understands that the certificate evidencing the Shares will be imprinted with a
legend which prohibits the transfer of the Shares unless they are registered or
unless the Company receives an opinion of counsel reasonably satisfactory to the
Company that such registration is not required. The Holder is aware of the
adoption of Rule 144 by the Securities and Exchange Commission and that the
Company is not now and, at the time such Holder wishes to sell the Shares, may
not be satisfying the current public information requirements of Rule 144 and,
in such case, the Holder would be precluded

                                       4
<PAGE>

from selling the Shares under Rule 144. The Holder understands that a stop
transfer instruction will be in effect with respect to transfer of Shares
consistent with the requirements of applicable securities laws.

                  C.       All Shares issued upon exercise of this Warrant
(unless registered under the 1933 Act) shall be stamped or imprinted with
legends in substantially the following form:

                  "THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 OR UNDER APPLICABLE STATE SECURITIES LAWS. THEY MAY NOT
BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID LAWS OR AN
OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT SUCH REGISTRATION IS NOT
REQUIRED.

                  THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
THE TERMS OF AN INVESTOR RIGHTS AGREEMENT, AS AMENDED OR RESTATED FROM TIME TO
TIME, BETWEEN THE HOLDER AND THE CORPORATION, A COPY OF WHICH MAY BE OBTAINED
FROM THE SECRETARY OF THE CORPORATION.

                  THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
THE TERMS OF A STOCKHOLDERS' AGREEMENT, AS AMENDED OR RESTATED FROM TIME TO
TIME, BETWEEN THE HOLDER AND THE CORPORATION, A COPY OF WHICH MAY BE OBTAINED
FROM THE SECRETARY OF THE CORPORATION."

         9.       Miscellaneous. This Warrant shall be governed by the internal
laws of the State of Missouri. The headings in this Warrant are for purposes of
convenience of reference only and shall not be deemed to constitute a part
hereof. Neither this Warrant nor any term hereof may be change, waived,
discharged or terminated orally but only by an instrument in writing signed by
the Company and the registered Holder hereof. All notices and other
communications from the Company to the Holder of this Warrant shall be mailed by
first class registered or certified mail, postage prepaid, to the address
furnished to the Company in writing by the last Holder of this Warrant who shall
have furnished an address to the Company in writing.

                                       5
<PAGE>

                  This Common Stock Warrant is issued this ______ day of
_____________, 2002.

                                               STEREOTAXIS, INC.

                                               BY:_______________________
                                                  Bevil J. Hogg
                                                  President and Chief Executive
                                                   Officer

                                       6
<PAGE>

                                    EXHIBIT A

                               NOTICE OF EXERCISE

To: Stereotaxis, Inc.

         1.       The undersigned hereby elects to purchase _______ shares of
the Common Stock of Stereotaxis, Inc. pursuant to the terms of the attached
Common Stock Warrant No CSW-_____, and tenders herewith payment of the purchase
price of such shares in full.

         2.       Please issue a certificate or certificates representing said
shares in the name of the undersigned or in such other name or names as are
specified below:

<TABLE>
<CAPTION>
        Name                                            Address
--------------------                            --------------------
<S>                                             <C>
____________________                            ____________________
____________________                            ____________________
____________________                            ____________________
</TABLE>

                                    ____________________________________________
                                    (Signature)

____________________
       (Date)

                                       7

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