Document:

EXHIBIT 4.4

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE
HAVE  BEEN  REGISTERED  WITH  THE  SECURITIES  AND  EXCHANGE  COMMISSION  OR THE
SECURITIES   COMMISSION  OF  ANY  STATE  IN  RELIANCE  UPON  AN  EXEMPTION  FROM
REGISTRATION  UNDER THE  SECURITIES  ACT OF 1933,  AS AMENDED  (THE  "SECURITIES
ACT"),  AND,  ACCORDINGLY,  MAY NOT BE OFFERED  OR SOLD  EXCEPT  PURSUANT  TO AN
EFFECTIVE  REGISTRATION  STATEMENT  UNDER THE  SECURITIES  ACT OR PURSUANT TO AN
AVAILABLE  EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE  REGISTRATION
REQUIREMENTS  OF THE  SECURITIES  ACT AND IN ACCORDANCE  WITH  APPLICABLE  STATE
SECURITIES  LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO
SUCH  EFFECT,  THE  SUBSTANCE  OF WHICH SHALL BE  REASONABLY  ACCEPTABLE  TO THE
COMPANY.  THIS  SECURITY  AND THE  SECURITIES  ISSUABLE  UPON  EXERCISE  OF THIS
SECURITY  MAY BE PLEDGED IN  CONNECTION  WITH A BONA FIDE MARGIN  ACCOUNT WITH A
REGISTERED  BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL  INSTITUTION THAT IS AN
"ACCREDITED  INVESTOR"  AS DEFINED IN RULE 501(a)  UNDER THE  SECURITIES  ACT OR
OTHER LOAN SECURED BY SUCH SECURITIES.

                    SHORT TERM COMMON STOCK PURCHASE WARRANT

                To Purchase __________ Shares of Common Stock of

                           INTRAOP MEDICAL CORPORATION

     THIS SHORT TERM COMMON STOCK  PURCHASE  WARRANT (the  "Warrant")  certifies
that, for value received,  _____________ (the "Holder"),  is entitled,  upon the
terms and subject to the limitations on exercise and the conditions  hereinafter
set forth, at any time on or after the date hereof (the "Initial Exercise Date")
and  on or  prior  to the  close  of  business  on the  earlier  of the 6  month
anniversary  of the Effective  Date and the 13 month  anniversary of the Initial
Exercise Date (the "Termination Date") but not thereafter,  to subscribe for and
purchase from Intraop Medical Corporation, a Nevada corporation (the "Company"),
up to ______ shares (the "Warrant Shares") of Common Stock, par value $0.001 per
share, of the Company (the "Common  Stock").  The purchase price of one share of
Common Stock under this Warrant shall be equal to the Exercise Price, as defined
in Section 2(b).

     Section 1.  Definitions.  Capitalized  terms used and not otherwise defined
herein shall have the meanings  set forth in that  certain  Securities  Purchase
Agreement (the "Purchase Agreement"),  dated August ___, 2005, among the Company
and the purchasers signatory thereto.

     Section 2. Exercise.

          a) Exercise of Warrant. Exercise of the purchase rights represented by
     this Warrant may be made,  in whole or in part,  at any time or times on or
     after the Initial  Exercise Date and on or before the  Termination  Date by

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     delivery to the Company of a duly executed  facsimile copy of the Notice of
     Exercise Form annexed hereto (or such other office or agency of the Company
     as it may  designate by notice in writing to the  registered  Holder at the
     address of such Holder  appearing on the books of the  Company);  provided,
     however,  within 5 Trading  Days of the date said  Notice  of  Exercise  is
     delivered to the Company, the Holder shall have surrendered this Warrant to
     the Company and the Company  shall have  received  payment of the aggregate
     Exercise  Price  of the  shares  thereby  purchased  by  wire  transfer  or
     cashier's check drawn on a United States bank.

          b) Exercise  Price.  The exercise price of the Common Stock under this
     Warrant shall be $0.40,  subject to  adjustment  hereunder  (the  "Exercise
     Price").

          c) Cashless  Exercise.  If at any time after one year from the date of
     issuance  of this  Warrant  there is no  effective  Registration  Statement
     registering,  or no current  prospectus  available  for,  the resale of the
     Warrant  Shares by the Holder,  then this  Warrant may also be exercised at
     such time by means of a "cashless  exercise"  in which the Holder  shall be
     entitled to receive a certificate for the number of Warrant Shares equal to
     the quotient obtained by dividing [(A-B) (X)] by (A), where:

          (A)  = the VWAP on the Trading Day  immediately  preceding the date of
               such election;

          (B)  = the Exercise Price of this Warrant, as adjusted; and

          (X)  = the number of Warrant  Shares  issuable  upon  exercise of this
               Warrant in accordance  with the terms of this Warrant by means of
               a cash exercise rather than a cashless exercise.

          d) Exercise  Limitations;  Holder's  Restrictions.  A Holder shall not
     have the right to exercise any portion of this Warrant, pursuant to Section
     2(c) or otherwise,  to the extent that after giving effect to such issuance
     after exercise,  such Holder (together with such Holder's  affiliates),  as
     set forth on the applicable Notice of Exercise,  would  beneficially own in
     excess of 4.99% of the  number of shares of the  Common  Stock  outstanding
     immediately  after  giving  effect to such  issuance.  For  purposes of the
     foregoing sentence, the number of shares of Common Stock beneficially owned
     by such  Holder and its  affiliates  shall  include the number of shares of
     Common Stock  issuable  upon exercise of this Warrant with respect to which
     the  determination  of such  sentence is being made,  but shall exclude the
     number of shares of Common Stock which would be issuable  upon (A) exercise
     of the remaining,  nonexercised  portion of this Warrant beneficially owned
     by such Holder or any of its  affiliates  and (B) exercise or conversion of
     the  unexercised  or  nonconverted  portion of any other  securities of the
     Company (including,  without limitation,  any other Debentures or Warrants)
     subject  to a  limitation  on  conversion  or  exercise  analogous  to  the
     limitation contained herein beneficially owned by such Holder or any of its
     affiliates.  Except as set forth in the preceding sentence, for purposes of
     this Section 2(d),  beneficial  ownership shall be calculated in accordance
     with Section 13(d) of the Exchange Act, it being  acknowledged  by a Holder
     that the Company is not  representing to such Holder that such  calculation

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     is in compliance  with Section 13(d) of the Exchange Act and such Holder is
     solely  responsible  for any  schedules  required to be filed in accordance
     therewith. To the extent that the limitation contained in this Section 2(d)
     applies,  the  determination  of whether  this Warrant is  exercisable  (in
     relation to other  securities  owned by such Holder) and of which a portion
     of this Warrant is exercisable shall be in the sole discretion of a Holder,
     and the  submission  of a Notice  of  Exercise  shall be  deemed to be each
     Holder's  determination of whether this Warrant is exercisable (in relation
     to other  securities  owned by such  Holder)  and of which  portion of this
     Warrant is exercisable,  in each case subject to such aggregate  percentage
     limitation,  and the Company  shall have no obligation to verify or confirm
     the accuracy of such  determination.  For purposes of this Section 2(d), in
     determining the number of outstanding  shares of Common Stock, a Holder may
     rely on the number of  outstanding  shares of Common  Stock as reflected in
     (x) the Company's  most recent Form 10-QSB or Form 10-KSB,  as the case may
     be, (y) a more recent public  announcement  by the Company or (z) any other
     notice by the Company or the  Company's  Transfer  Agent  setting forth the
     number of shares of Common  Stock  outstanding.  Upon the  written  or oral
     request of a Holder,  the Company  shall  within two Trading  Days  confirm
     orally and in writing to such  Holder the number of shares of Common  Stock
     then outstanding.  In any case, the number of outstanding  shares of Common
     Stock shall be determined after giving effect to the conversion or exercise
     of securities of the Company, including this Warrant, by such Holder or its
     affiliates since the date as of which such number of outstanding  shares of
     Common  Stock was  reported.  The  provisions  of this  Section 2(d) may be
     waived by such Holder,  at the election of such Holder,  upon not less than
     61 days' prior notice to the Company,  and the  provisions  of this Section
     2(d) shall  continue to apply  until such 61st day (or such later date,  as
     determined by such Holder, as may be specified in such notice of waiver).

          e) Mechanics of Exercise.

               i.  Authorization of Warrant Shares.  The Company  covenants that
          all  Warrant  Shares  which may be  issued  upon the  exercise  of the
          purchase rights represented by this Warrant will, upon exercise of the
          purchase  rights  represented  by this  Warrant,  be duly  authorized,
          validly issued,  fully paid and nonassessable and free from all taxes,
          liens and charges in respect of the issue thereof (other than taxes in
          respect of any transfer occurring contemporaneously with such issue).

               ii.  Delivery of  Certificates  Upon Exercise.  Certificates  for
          shares purchased  hereunder shall be transmitted by the transfer agent
          of the Company to the Holder by crediting  the account of the Holder's
          prime broker with the  Depository  Trust  Company  through its Deposit
          Withdrawal  Agent  Commission  ("DWAC")  system  if the  Company  is a
          participant in such system,  and otherwise by physical delivery to the
          address  specified  by the Holder in the Notice of  Exercise  within 3
          Trading  Days  from the  delivery  to the  Company  of the  Notice  of
          Exercise Form,  surrender of this Warrant and payment of the aggregate
          Exercise Price as set forth above  ("Warrant  Share  Delivery  Date").
          This  Warrant  shall be deemed to have been  exercised on the date the

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          Exercise Price is received by the Company. The Warrant Shares shall be
          deemed  to have  been  issued,  and  Holder  or any  other  person  so
          designated to be named therein shall be deemed to have become a holder
          of record of such shares for all purposes,  as of the date the Warrant
          has been exercised by payment to the Company of the Exercise Price and
          all taxes  required  to be paid by the  Holder,  if any,  pursuant  to
          Section  2(e)(vii)  prior to the  issuance of such  shares,  have been
          paid.

               iii.  Delivery of New  Warrants  Upon  Exercise.  If this Warrant
          shall have been exercised in part,  the Company shall,  at the time of
          delivery  of the  certificate  or  certificates  representing  Warrant
          Shares,  deliver  to Holder a new  Warrant  evidencing  the  rights of
          Holder to purchase the  unpurchased  Warrant Shares called for by this
          Warrant,  which new Warrant  shall in all other  respects be identical
          with this Warrant.

               iv. Rescission Rights. If the Company fails to cause its transfer
          agent  to  transmit  to  the  Holder  a  certificate  or  certificates
          representing  the Warrant Shares pursuant to this Section  2(e)(iv) by
          the second Trading Day following the Warrant Share Delivery Date, then
          the Holder will have the right to rescind such exercise.

               v.   Compensation   for  Buy-In  on  Failure  to  Timely  Deliver
          Certificates Upon Exercise.  In addition to any other rights available
          to the Holder,  if the Company  fails to cause its  transfer  agent to
          transmit to the Holder a certificate or certificates  representing the
          Warrant Shares pursuant to an exercise on or before the second Trading
          Day following the Warrant Share  Delivery Date, and if after such date
          the Holder is required  by its broker to  purchase  (in an open market
          transaction  or  otherwise)  shares  of  Common  Stock to  deliver  in
          satisfaction  of a sale by the Holder of the Warrant  Shares which the
          Holder anticipated receiving upon such exercise (a "Buy-In"), then the
          Company  shall (1) pay in cash to the  Holder  the amount by which (x)
          the Holder's total purchase price (including brokerage commissions, if
          any) for the  shares  of Common  Stock so  purchased  exceeds  (y) the
          amount  obtained by multiplying  (A) the number of Warrant Shares that
          the Company was required to deliver to the Holder in  connection  with
          the  exercise  at issue  times (B) the  price at which the sell  order
          giving rise to such purchase  obligation was executed,  and (2) at the
          option of the Holder,  either reinstate the portion of the Warrant and
          equivalent  number of Warrant  Shares for which such  exercise was not
          honored or deliver to the Holder the number of shares of Common  Stock
          that would have been issued had the Company  timely  complied with its
          exercise  and delivery  obligations  hereunder.  For  example,  if the
          Holder purchases Common Stock having a total purchase price of $11,000
          to cover a Buy-In with respect to an  attempted  exercise of shares of
          Common Stock with an aggregate sale price giving rise to such purchase

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          obligation of $10,000,  under clause (1) of the immediately  preceding
          sentence the Company shall be required to pay the Holder  $1,000.  The
          Holder shall provide the Company written notice indicating the amounts
          payable  to the  Holder  in  respect  of  the  Buy-In,  together  with
          applicable  confirmations and other evidence  reasonably  requested by
          the Company. Nothing herein shall limit a Holder's right to pursue any
          other  remedies  available  to it  hereunder,  at  law  or  in  equity
          including, without limitation, a decree of specific performance and/or
          injunctive  relief  with  respect to the  Company's  failure to timely
          deliver certificates representing shares of Common Stock upon exercise
          of the Warrant as required pursuant to the terms hereof.

               vi. No Fractional  Shares or Scrip. No fractional shares or scrip
          representing  fractional  shares  shall be issued upon the exercise of
          this  Warrant.  As to any  fraction  of a  share  which  Holder  would
          otherwise  be  entitled to purchase  upon such  exercise,  the Company
          shall pay a cash  adjustment  in respect of such final  fraction in an
          amount equal to such fraction multiplied by the Exercise Price.

               vii.  Charges,  Taxes and Expenses.  Issuance of certificates for
          Warrant  Shares  shall be made  without  charge to the  Holder for any
          issue or transfer  tax or other  incidental  expense in respect of 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  or in such  name or  names as may be  directed  by the
          Holder; provided,  however, that in the event certificates for Warrant
          Shares are to be issued in a name  other than the name of the  Holder,
          this Warrant when surrendered for exercise shall be accompanied by the
          Assignment Form attached  hereto duly executed by the Holder;  and the
          Company  may  require,  as a condition  thereto,  the payment of a sum
          sufficient to reimburse it for any transfer tax incidental thereto.

               viii.   Closing  of  Books.   The  Company  will  not  close  its
          stockholder  books or records in any manner which  prevents the timely
          exercise of this Warrant, pursuant to the terms hereof.

     Section 3. Certain Adjustments.

          a) Stock Dividends and Splits. If the Company,  at any time while this
     Warrant is  outstanding:  (A) pays a stock  dividend  or  otherwise  make a
     distribution  or  distributions  on shares of its Common Stock or any other
     equity or equity  equivalent  securities  payable in shares of Common Stock
     (which,  for  avoidance  of doubt,  shall not  include any shares of Common
     Stock  issued by the Company  pursuant  to this  Warrant),  (B)  subdivides
     outstanding  shares of Common  Stock into a larger  number of  shares,  (C)
     combines  (including by way of reverse stock split)  outstanding  shares of
     Common  Stock  into  a  smaller   number  of  shares,   or  (D)  issues  by
     reclassification  of shares of the Common Stock any shares of capital stock
     of the Company, then in each case the Exercise Price shall be multiplied by

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     a fraction of which the  numerator  shall be the number of shares of Common
     Stock (excluding  treasury shares, if any) outstanding  immediately  before
     such  event and of which the  denominator  shall be the number of shares of
     Common  Stock  outstanding  immediately  after such event and the number of
     shares  issuable  upon  exercise of this Warrant  shall be  proportionately
     adjusted.  Any  adjustment  made pursuant to this Section 3(a) shall become
     effective  immediately  after  the  record  date for the  determination  of
     stockholders  entitled to receive such dividend or  distribution  and shall
     become  effective  immediately  after the  effective  date in the case of a
     subdivision, combination or re-classification.

          b) RESERVED.

          c) Pro Rata  Distributions.  If the Company,  at any time prior to the
     Termination  Date, shall distribute to all holders of Common Stock (and not
     to  Holders  of the  Warrants)  evidences  of its  indebtedness  or  assets
     (including  cash and cash dividends) or rights or warrants to subscribe for
     or  purchase  any  security  other than the Common  Stock  (which  shall be
     subject to Section  3(b)),  then in each such case the Exercise Price shall
     be adjusted by multiplying the Exercise Price in effect  immediately  prior
     to the record  date fixed for  determination  of  stockholders  entitled to
     receive such  distribution by a fraction of which the denominator  shall be
     the average of the 10 VWAPs  immediately prior to the record date mentioned
     above,  and of which the  numerator  shall be such  average of the VWAPs on
     such record  date less the then per share fair market  value at such record
     date  of the  portion  of  such  assets  or  evidence  of  indebtedness  so
     distributed  applicable  to one  outstanding  share of the Common  Stock as
     determined  by the Board of  Directors  in good  faith.  In either case the
     adjustments shall be described in a statement provided to the Holder of the
     portion of assets or  evidences  of  indebtedness  so  distributed  or such
     subscription   rights  applicable  to  one  share  of  Common  Stock.  Such
     adjustment  shall be made whenever any such  distribution is made and shall
     become effective immediately after the record date mentioned above.

          d)  Fundamental  Transaction.  If, at any time while  this  Warrant is
     outstanding,  (A) the Company  effects any merger or  consolidation  of the
     Company with or into another  Person,  (B) the Company  effects any sale of
     all or  substantially  all of its  assets  in one or a  series  of  related
     transactions,  (C) any  tender  offer or  exchange  offer  (whether  by the
     Company or another Person) is completed pursuant to which holders of Common
     Stock  are  permitted  to  tender  or  exchange   their  shares  for  other
     securities,   cash  or   property,   or  (D)  the   Company   effects   any
     reclassification  of the  Common  Stock or any  compulsory  share  exchange
     pursuant  to which  the  Common  Stock  is  effectively  converted  into or
     exchanged  for other  securities,  cash or  property  (in any such case,  a
     "Fundamental  Transaction"),  then,  upon any  subsequent  exercise of this
     Warrant, the Holder shall have the right to receive, for each Warrant Share
     that would have been issuable upon such exercise  immediately  prior to the
     occurrence of such  Fundamental  Transaction,  at the option of the Holder,
     (a) upon exercise of this Warrant,  the number of shares of Common Stock of
     the  successor or  acquiring  corporation  or of the Company,  if it is the
     surviving  corporation,  and any additional  consideration  (the "Alternate
     Consideration")  receivable  upon or as a  result  of such  reorganization,
     reclassification,  merger,  consolidation  or  disposition  of  assets by a
     Holder of the number of shares of Common  Stock for which  this  Warrant is

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     exercisable  immediately  prior  to such  event  or (b) if the  Company  is
     acquired  in an all  cash  transaction,  cash  equal  to the  value of this
     Warrant as determined in accordance with the  Black-Scholes  option pricing
     formula.  For  purposes  of any such  exercise,  the  determination  of the
     Exercise Price shall be  appropriately  adjusted to apply to such Alternate
     Consideration  based on the amount of Alternate  Consideration  issuable in
     respect of one share of Common Stock in such Fundamental  Transaction,  and
     the  Company  shall  apportion  the  Exercise  Price  among  the  Alternate
     Consideration in a reasonable  manner  reflecting the relative value of any
     different components of the Alternate  Consideration.  If holders of Common
     Stock are given any choice as to the  securities,  cash or  property  to be
     received in a Fundamental  Transaction,  then the Holder shall be given the
     same choice as to the Alternate Consideration it receives upon any exercise
     of this  Warrant  following  such  Fundamental  Transaction.  To the extent
     necessary to  effectuate  the  foregoing  provisions,  any successor to the
     Company or surviving entity in such Fundamental  Transaction shall issue to
     the Holder a new  warrant  consistent  with the  foregoing  provisions  and
     evidencing  the Holder's  right to exercise  such  warrant  into  Alternate
     Consideration.  The terms of any agreement  pursuant to which a Fundamental
     Transaction is effected shall include terms requiring any such successor or
     surviving  entity to comply with the  provisions  of this  Section 3(d) and
     insuring  that this  Warrant  (or any such  replacement  security)  will be
     similarly  adjusted  upon  any  subsequent   transaction   analogous  to  a
     Fundamental Transaction.

          e) Calculations.  All calculations  under this Section 3 shall be made
     to the nearest cent or the nearest  1/100th of a share, as the case may be.
     For purposes of this Section 3, the number of shares of Common Stock deemed
     to be issued  and  outstanding  as of a given  date shall be the sum of the
     number of shares of Common Stock (excluding treasury shares, if any) issued
     and outstanding.

          f) Voluntary Adjustment By Company. The Company may at any time during
     the term of this  Warrant  reduce the then  current  Exercise  Price to any
     amount  and for any  period  of time  deemed  appropriate  by the  Board of
     Directors of the Company.

          g) Notice to Holders.

               i. Adjustment to Exercise  Price.  Whenever the Exercise Price is
          adjusted  pursuant to this Section 3, the Company shall  promptly mail
          to each Holder a notice  setting  forth the Exercise  Price after such
          adjustment and setting forth a brief  statement of the facts requiring
          such  adjustment.  If the  Company  issues a variable  rate  security,
          despite the prohibition thereon in the Purchase Agreement, the Company
          shall  be  deemed  to  have  issued   Common  Stock  or  Common  Stock
          Equivalents  at the lowest  possible  conversion or exercise  price at
          which such  securities  may be converted or exercised in the case of a
          Variable Rate Transaction (as defined in the Purchase Agreement).

               ii. Notice to Allow Exercise by Holder.  If (A) the Company shall
          declare a dividend (or any other  distribution)  on the Common  Stock;
          (B) the Company shall declare a special  nonrecurring cash dividend on

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          or a redemption of the Common Stock;  (C) the Company shall  authorize
          the  granting to all holders of the Common Stock rights or warrants to
          subscribe  for or purchase any shares of capital stock of any class or
          of any rights;  (D) the  approval of any  stockholders  of the Company
          shall be  required  in  connection  with any  reclassification  of the
          Common Stock,  any  consolidation  or merger to which the Company is a
          party, any sale or transfer of all or substantially  all of the assets
          of the Company,  of any compulsory  share exchange  whereby the Common
          Stock is converted into other  securities,  cash or property;  (E) the
          Company  shall  authorize the  voluntary or  involuntary  dissolution,
          liquidation or winding up of the affairs of the Company; then, in each
          case,  the Company  shall cause to be mailed to the Holder at its last
          address as it shall  appear upon the Warrant  Register of the Company,
          at least 20 calendar days prior to the applicable  record or effective
          date hereinafter  specified,  a notice stating (x) the date on which a
          record is to be taken for the purpose of such dividend,  distribution,
          redemption, rights or warrants, or if a record is not to be taken, the
          date as of which  the  holders  of the  Common  Stock of  record to be
          entitled  to  such  dividend,  distributions,  redemption,  rights  or
          warrants  are  to  be  determined  or  (y)  the  date  on  which  such
          reclassification,  consolidation,  merger,  sale,  transfer  or  share
          exchange is expected to become  effective or close, and the date as of
          which it is expected  that holders of the Common Stock of record shall
          be  entitled  to  exchange  their  shares  of  the  Common  Stock  for
          securities,   cash   or   other   property   deliverable   upon   such
          reclassification,  consolidation,  merger,  sale,  transfer  or  share
          exchange; provided, that the failure to mail such notice or any defect
          therein or in the mailing thereof shall not affect the validity of the
          corporate  action required to be specified in such notice.  The Holder
          is  entitled  to  exercise  this  Warrant  during  the  20-day  period
          commencing  on the date of such  notice to the  effective  date of the
          event triggering such notice.

     Section 4. Transfer of Warrant.

          a)   Transferability.   Subject  to  compliance  with  any  applicable
     securities  laws and the  conditions  set forth in  Sections  5(a) and 4(d)
     hereof and to the provisions of Section 4.1 of the Purchase Agreement, this
     Warrant and all rights hereunder are transferable, in whole or in part (but
     if in part, in denominations of not less than the greater of 100,000 shares
     (subject to reverse and forward  stock  splits and the like) and the number
     of unexercised Warrant Shares hereunder,  upon surrender of this Warrant at
     the principal office of the Company,  together with a written assignment of
     this Warrant substantially in the form attached hereto duly executed by the
     Holder or its agent or attorney  and funds  sufficient  to pay any transfer
     taxes payable upon the making of such transfer. Upon such surrender and, if
     required, such payment, the Company shall execute and deliver a new Warrant
     or  Warrants  in  the  name  of  the  assignee  or  assignees  and  in  the
     denomination or  denominations  specified in such instrument of assignment,
     and shall  issue to the  assignor a new Warrant  evidencing  the portion of
     this Warrant not so assigned, and this Warrant shall promptly be cancelled.
     A Warrant,  if properly assigned,  may be exercised by a new holder for the
     purchase of Warrant Shares without having a new Warrant issued.

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          b) New  Warrants.  This Warrant may be divided or combined  with other
     Warrants upon  presentation  hereof at the aforesaid office of the Company,
     together with a written notice  specifying the names and  denominations  in
     which new Warrants  are to be issued,  signed by the Holder or its agent or
     attorney. Subject to compliance with Section 4(a), as to any transfer which
     may be involved in such division or combination,  the Company shall execute
     and  deliver a new  Warrant or  Warrants  in  exchange  for the  Warrant or
     Warrants to be divided or combined in accordance with such notice.

          c) Warrant  Register.  The Company shall  register this Warrant,  upon
     records to be  maintained  by the Company for that  purpose  (the  "Warrant
     Register"),  in the name of the record Holder hereof from time to time. The
     Company  may deem and treat the  registered  Holder of this  Warrant as the
     absolute  owner  hereof  for the  purpose  of any  exercise  hereof  or any
     distribution  to the  Holder,  and for all other  purposes,  absent  actual
     notice to the contrary.

          d) Transfer  Restrictions.  If, at the time of the  surrender  of this
     Warrant in connection  with any transfer of this  Warrant,  the transfer of
     this Warrant shall not be registered pursuant to an effective  registration
     statement under the Securities Act and under applicable state securities or
     blue sky laws,  the Company may require,  as a condition  of allowing  such
     transfer (i) that the Holder or transferee of this Warrant, as the case may
     be,  furnish to the  Company a written  opinion of counsel  (which  opinion
     shall be in form,  substance and scope customary for opinions of counsel in
     comparable  transactions)  to the  effect  that such  transfer  may be made
     without  registration  under the Securities Act and under  applicable state
     securities or blue sky laws, (ii) that the holder or transferee execute and
     deliver  to  the  Company  an  investment  letter  in  form  and  substance
     acceptable to the Company and (iii) that the  transferee be an  "accredited
     investor" as defined in Rule 501(a)(1),  (a)(2),  (a)(3), (a)(7), or (a)(8)
     promulgated under the Securities Act or a qualified  institutional buyer as
     defined in Rule 144A(a) under the Securities Act.

     Section 5. Miscellaneous.

          a) Title to  Warrant.  Prior to the  Termination  Date and  subject to
     compliance with applicable laws and Section 4 of this Warrant, this Warrant
     and all rights  hereunder  are  transferable,  in whole or in part,  at the
     office  or  agency  of the  Company  by the  Holder  in  person  or by duly
     authorized  attorney,  upon  surrender  of this Warrant  together  with the
     Assignment Form annexed hereto properly endorsed. The transferee shall sign
     an investment letter in form and substance  reasonably  satisfactory to the
     Company.

          b) No Rights as  Shareholder  Until  Exercise.  This  Warrant does not
     entitle the Holder to any voting rights or other rights as a shareholder of
     the  Company  prior to the  exercise  hereof.  Upon the  surrender  of this
     Warrant and the payment of the aggregate  Exercise  Price (or by means of a
     cashless exercise),  the Warrant Shares so purchased shall be and be deemed
     to be issued to such  Holder as the record  owner of such  shares as of the
     close of business on the later of the date of such surrender or payment.

                                       9
<PAGE>

          c) Loss,  Theft,  Destruction  or Mutilation  of Warrant.  The Company
     covenants  that  upon  receipt  by  the  Company  of  evidence   reasonably
     satisfactory  to it of the loss,  theft,  destruction or mutilation of this
     Warrant or any stock  certificate  relating to the Warrant  Shares,  and in
     case of loss,  theft or  destruction,  of indemnity or security  reasonably
     satisfactory  to it (which,  in the case of the Warrant,  shall not include
     the posting of any bond but may include the execution of an indemnification
     agreement),  and upon surrender and  cancellation  of such Warrant or stock
     certificate,  if mutilated, the Company will make and deliver a new Warrant
     or stock  certificate of like tenor and dated as of such  cancellation,  in
     lieu of such Warrant or stock certificate.

          d) Saturdays, Sundays, Holidays, etc. 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, Sunday or a legal holiday, then such action may
     be taken or such right may be  exercised on the next  succeeding  day not a
     Saturday, Sunday or legal holiday.

          e) Authorized Shares.

               The  Company  covenants  that  during the  period the  Warrant is
          outstanding,  it will reserve from its authorized and unissued  Common
          Stock a sufficient number of shares to provide for the issuance of the
          Warrant  Shares upon the  exercise of any  purchase  rights under this
          Warrant.  The  Company  further  covenants  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  Warrant  Shares  upon the
          exercise of the purchase  rights under this Warrant.  The Company will
          take all such  reasonable  action as may be  necessary  to assure that
          such Warrant Shares may be issued as provided herein without violation
          of any  applicable law or regulation,  or of any  requirements  of the
          Trading Market upon which the Common Stock may be listed.

               Except and to the extent as waived or consented to by the Holder,
          the Company shall not by any action,  including,  without  limitation,
          amending   its   certificate   of   incorporation   or   through   any
          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 of this Warrant,  but will at all times in good faith assist
          in the  carrying  out of all such  terms and in the taking of all such
          actions as may be  necessary or  appropriate  to protect the rights of
          Holder  as set  forth  in this  Warrant  against  impairment.  Without
          limiting the  generality  of the  foregoing,  the Company will (a) not
          increase the par value of any Warrant  Shares above the amount payable
          therefor upon such exercise  immediately prior to such increase in par
          value,  (b) take all such action as may be necessary or appropriate in
          order that the Company  may  validly and legally  issue fully paid and
          nonassessable  Warrant  Shares upon the exercise of this Warrant,  and
          (c)  use   commercially   reasonable   efforts   to  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 this Warrant.

                                       10
<PAGE>

               Before  taking any action which would result in an  adjustment in
          the number of Warrant  Shares for which this Warrant is exercisable or
          in  the   Exercise   Price,   the  Company   shall   obtain  all  such
          authorizations or exemptions  thereof,  or consents thereto, as may be
          necessary   from  any  public   regulatory   body  or  bodies   having
          jurisdiction thereof.

          f) Jurisdiction. All questions concerning the construction,  validity,
     enforcement  and  interpretation  of this Warrant  shall be  determined  in
     accordance with the provisions of the Purchase Agreement.

          g)  Restrictions.  The Holder  acknowledges  that the  Warrant  Shares
     acquired upon the exercise of this Warrant,  if not  registered,  will have
     restrictions upon resale imposed by state and federal securities laws.

          h)  Nonwaiver  and  Expenses.  No  course of  dealing  or any delay or
     failure to exercise any right hereunder on the part of Holder shall operate
     as a waiver of such right or otherwise prejudice Holder's rights, powers or
     remedies,  notwithstanding  the fact that all rights hereunder terminate on
     the  Termination  Date. If the Company  willfully  and  knowingly  fails to
     comply with any  provision of this  Warrant,  which results in any material
     damages to the  Holder,  the Company  shall pay to Holder  such  amounts as
     shall be  sufficient  to cover any costs and  expenses  including,  but not
     limited  to,  reasonable  attorneys'  fees,  including  those of  appellate
     proceedings,  incurred by Holder in  collecting  any  amounts due  pursuant
     hereto or in  otherwise  enforcing  any of its  rights,  powers or remedies
     hereunder.

          i)  Notices.  Any  notice,  request  or  other  document  required  or
     permitted to be given or  delivered  to the Holder by the Company  shall be
     delivered  in  accordance  with  the  notice  provisions  of  the  Purchase
     Agreement.

          j) Limitation of Liability. No provision hereof, in the absence of any
     affirmative  action by Holder to exercise this Warrant or purchase  Warrant
     Shares,  and no  enumeration  herein of the rights or privileges of Holder,
     shall give rise to any  liability of Holder for the  purchase  price of any
     Common Stock or as a stockholder of the Company,  whether such liability is
     asserted by the Company or by creditors of the Company.

          k)  Remedies.  Holder,  in addition to being  entitled to exercise all
     rights granted by law, including  recovery of damages,  will be entitled to
     specific  performance of its rights under this Warrant.  The Company agrees
     that  monetary  damages  would not be  adequate  compensation  for any loss
     incurred by reason of a breach by it of the  provisions of this Warrant and
     hereby  agrees to waive the defense in any action for specific  performance
     that a remedy at law would be adequate.

          l) Successors and Assigns. Subject to applicable securities laws, this
     Warrant and the rights and obligations  evidenced hereby shall inure to the
     benefit  of and be  binding  upon the  successors  of the  Company  and the

                                       11
<PAGE>

     successors and permitted assigns of Holder.  The provisions of this Warrant
     are intended to be for the benefit of all Holders from time to time of this
     Warrant  and shall be  enforceable  by any such Holder or holder of Warrant
     Shares.

          m)  Amendment.  This  Warrant  may  be  modified  or  amended  or  the
     provisions  hereof  waived with the written  consent of the Company and the
     Holder.

          n)  Severability.  Wherever  possible,  each provision of this Warrant
     shall be  interpreted  in such  manner as to be  effective  and valid under
     applicable law, but if any provision of this Warrant shall be prohibited by
     or invalid under applicable law, such provision shall be ineffective to the
     extent  of  such  prohibition  or  invalidity,   without  invalidating  the
     remainder of such provisions or the remaining provisions of this Warrant.

          o) Headings. The headings used in this Warrant are for the convenience
     of reference only and shall not, for any purpose,  be deemed a part of this
     Warrant.

                              ********************

                                       12
<PAGE>

     IN WITNESS  WHEREOF,  the Company has caused this Warrant to be executed by
its officer thereunto duly authorized.

Dated:  August __, 2005

                                           INTRAOP MEDICAL CORPORATION

                                           By:__________________________________
                                              Name:
                                              Title:

                                       13
<PAGE>

                               NOTICE OF EXERCISE

TO:    INTRAOP MEDICAL CORPORATION

     (1) The undersigned  hereby elects to purchase  ________  Warrant Shares of
the Company  pursuant to the terms of the attached Warrant (only if exercised in
full), and tenders herewith payment of the exercise price in full, together with
all applicable transfer taxes, if any.

     (2) Payment shall take the form of (check applicable box):

          [ ]  in lawful money of the United States; or

          [ ]  the  cancellation  of  such  number  of  Warrant  Shares  as is
               necessary, in accordance with the formula set forth in subsection
               2(c), to exercise this Warrant with respect to the maximum number
               of Warrant Shares  purchasable  pursuant to the cashless exercise
               procedure set forth in subsection 2(c).

     (3) Please issue a certificate or  certificates  representing  said Warrant
Shares in the name of the  undersigned  or in such  other  name as is  specified
below:

               __________________________________

The Warrant Shares shall be delivered to the following:

               __________________________________

               __________________________________

               __________________________________

     (4) Accredited  Investor.  The  undersigned is an "accredited  investor" as
defined  in  Regulation  D  promulgated  under the  Securities  Act of 1933,  as
amended.

[SIGNATURE OF HOLDER]

Name of Investing Entity: ______________________________________________________
Signature of Authorized Signatory of Investing Entity: _________________________
Name of Authorized Signatory: __________________________________________________
Title of Authorized Signatory: _________________________________________________
Date: __________________________________________________________________________

<PAGE>

                                 ASSIGNMENT FORM

                    (To assign the foregoing warrant, execute
                   this form and supply required information.
                 Do not use this form to exercise the warrant.)

     FOR VALUE RECEIVED,  the foregoing Warrant and all rights evidenced thereby
are hereby assigned to

_______________________________________________ whose address is

_______________________________________________________________.

_______________________________________________________________

                                          Dated:  ______________, _______

                       Holder's Signature: _______________________________

                       Holder's Address:   _______________________________

                                           _______________________________

Signature Guaranteed:  ___________________________________________

NOTE: The signature to this  Assignment Form must correspond with the name as it
appears on the face of the Warrant,  without  alteration or  enlargement  or any
change whatsoever,  and must be guaranteed by a bank or trust company.  Officers
of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.EXHIBIT 4.5

                        FORM OF REPRESENTATIVE'S WARRANT

         THIS WARRANT AND THE  UNDERLYING  SECURITIES  HAVE NOT BEEN  REGISTERED
UNDER THE  SECURITIES  ACT OF 1933, AS AMENDED (THE  "SECURITIES  ACT"),  OR ANY
OTHER  SECURITIES  LAWS, HAVE BEEN TAKEN FOR INVESTMENT,  AND MAY NOT BE SOLD OR
TRANSFERRED  OR OFFERED FOR SALE OR  TRANSFER  UNLESS A  REGISTRATION  STATEMENT
UNDER THE SECURITIES ACT AND OTHER  APPLICABLE  SECURITIES  LAWS WITH RESPECT TO
SUCH  SECURITIES IS THEN IN EFFECT,  OR IN THE OPINION OF COUNSEL (WHICH OPINION
IS REASONABLY SATISFACTORY TO THE ISSUER OF THESE SECURITIES), SUCH REGISTRATION
UNDER THE SECURITIES ACT AND OTHER APPLICABLE SECURITIES LAWS IS NOT REQUIRED.

Date: ______________                                         Warrant to Purchase
                                                                 ***______***
                                                                    Shares

                           INTRAOP MEDICAL CORPORATION

              (Incorporated under the laws of the State of Nevada)

             REPRESENTATIVE'S WARRANT FOR THE PURCHASE OF SHARES OF

                                  COMMON STOCK
         Warrant Price: [price for the Securities sold in the placement]
            $____ per share, subject to adjustment as provided below.

         THIS IS TO CERTIFY that, for value received, Stonegate Securities, Inc.
("Stonegate")  and its  assigns  (collectively,  the  "Holder"),  is entitled to
purchase,  subject to the terms and  conditions  hereinafter  set  forth,  up to
***______***  shares of the common  stock,  par value $_____ per share  ("Common
Stock"), of Intraop Medical  Corporation,  a Nevada corporation (the "Company"),
and to receive certificate(s) for the Common Stock so purchased.

         Exercise  Period  and  Vesting.  THE  EXERCISE  PERIOD  IS  THE  PERIOD
BEGINNING ON THE DATE OF THIS WARRANT (THE  "ISSUANCE  DATE") AND ENDING AT 5:00
P.M.,  DALLAS,  TEXAS TIME,  FIVE YEARS FROM THE  ISSUANCE  DATE (THE  "EXERCISE
PERIOD").  THIS  WARRANT  IS  VESTED  IN FULL  AS OF THE  ISSUANCE  DATE  AND IS
IMMEDIATELY EXERCISABLE BY HOLDER. THIS WARRANT WILL TERMINATE AUTOMATICALLY AND
IMMEDIATELY UPON THE EXPIRATION OF THE EXERCISE PERIOD.

         Exercise of Warrant;  Cashless Exercise. THIS WARRANT MAY BE EXERCISED,
IN WHOLE OR IN PART,  AT ANY TIME  AND FROM  TIME TO TIME  DURING  THE  EXERCISE
PERIOD.  SUCH  EXERCISE  SHALL BE  ACCOMPLISHED  BY TENDER TO THE COMPANY OF THE
PURCHASE  PRICE SET FORTH  ABOVE AS THE  WARRANT  PRICE (THE  "WARRANT  PRICE"),
EITHER (A) IN CASH,  BY WIRE  TRANSFER OR BY CERTIFIED  CHECK OR BANK  CASHIER'S
CHECK,  PAYABLE TO THE ORDER OF THE COMPANY,  OR (B) BY SURRENDERING SUCH NUMBER
OF SHARES OF COMMON STOCK  RECEIVED UPON EXERCISE OF THIS WARRANT WITH A CURRENT
MARKET PRICE EQUAL TO THE WARRANT PRICE (A "CASHLESS  EXERCISE"),  TOGETHER WITH
PRESENTATION  AND  SURRENDER  TO THE  COMPANY OF THIS  WARRANT  WITH AN EXECUTED
SUBSCRIPTION  IN  SUBSTANTIALLY  THE FORM  ATTACHED  HERETO  AS  EXHIBIT  A (THE
"SUBSCRIPTION").  UPON RECEIPT OF THE FOREGOING, THE COMPANY WILL DELIVER TO THE
HOLDER, AS PROMPTLY AS POSSIBLE, A CERTIFICATE OR CERTIFICATES  REPRESENTING THE
SHARES OF COMMON STOCK SO PURCHASED, REGISTERED IN THE NAME OF THE HOLDER OR ITS
TRANSFEREE (AS PERMITTED UNDER SECTION 3 BELOW). WITH RESPECT TO ANY EXERCISE OF
THIS  WARRANT,  THE HOLDER  WILL FOR ALL  PURPOSES  BE DEEMED TO HAVE BECOME THE
HOLDER OF RECORD OF THE NUMBER OF SHARES OF COMMON STOCK PURCHASED  HEREUNDER ON
THE DATE THIS  WARRANT,  A PROPERLY  EXECUTED  SUBSCRIPTION  AND  PAYMENT OF THE
WARRANT PRICE IS RECEIVED BY THE COMPANY (THE "EXERCISE DATE"),  IRRESPECTIVE OF
THE DATE OF DELIVERY OF THE CERTIFICATE  EVIDENCING SUCH SHARES, EXCEPT THAT, IF
THE DATE OF SUCH  RECEIPT  IS A DATE ON WHICH  THE STOCK  TRANSFER  BOOKS OF THE
COMPANY ARE CLOSED, SUCH PERSON WILL BE DEEMED TO HAVE BECOME THE HOLDER OF SUCH
SHARES AT THE CLOSE OF BUSINESS ON THE NEXT  SUCCEEDING  DATE ON WHICH THE STOCK
TRANSFER  BOOKS ARE OPEN.  FRACTIONAL  SHARES OF COMMON STOCK WILL NOT BE ISSUED
UPON THE EXERCISE OF THIS WARRANT.  IN LIEU OF ANY FRACTIONAL  SHARES THAT WOULD
HAVE BEEN ISSUED BUT FOR THE IMMEDIATELY PRECEDING SENTENCE,  THE HOLDER WILL BE
ENTITLED TO RECEIVE CASH EQUAL TO THE CURRENT MARKET PRICE OF SUCH FRACTION OF A
SHARE OF COMMON  STOCK ON THE TRADING DAY  IMMEDIATELY  PRECEDING  THE  EXERCISE
DATE. IN THE EVENT THIS WARRANT IS EXERCISED IN PART,  THE COMPANY SHALL ISSUE A
NEW  WARRANT TO THE HOLDER  COVERING  THE  AGGREGATE  NUMBER OF SHARES OF COMMON
STOCK AS TO WHICH THIS WARRANT REMAINS EXERCISABLE FOR.

                                       1
<PAGE>

         If the Holder elects to conduct a Cashless Exercise,  the Company shall
cause to be delivered to the Holder a certificate or  certificates  representing
the number of shares of Common Stock computed using the following formula:

                  X = Y (A-B)
                    A

         Where:
                    X    = the number of shares of Common Stock to be
                           issued to Holder;

                    Y    = the  portion of the  Warrant (in number of shares
                           of Common Stock) being  exercised by Holder (at the
                           date of such calculation);

                    A    = the  fair  market  value of one  share of  Common
                           Stock on the Exercise Date (as  calculated  below);
                           and

                    B    =  Warrant Price (as  adjusted to the date of such
                            calculation).

         For purposes of the  foregoing  calculation,  "fair market value of one
share of Common Stock on the  Exercise  Date" shall mean:  (i) if the  principal
trading  market  for  such  securities  is a  national  or  regional  securities
exchange,  the closing price on such exchange for day immediately  prior to such
Exercise  Date;  (ii) if sales prices for shares of Common Stock are reported by
the  Nasdaq  National  Market  System or Nasdaq  Small Cap  Market (or a similar
system then in use), the last reported sales price for the day immediately prior
to such Exercise  Date;  or (iii) if neither (i) nor (ii) above are  applicable,
and if bid and ask  prices  for  shares of  Common  Stock  are  reported  in the
over-the-counter  market by Nasdaq  (or,  if not so  reported,  by the  National
Quotation  Bureau),  the  average of the high bid and low ask prices so reported
for  the ten  (10)  trading  days  immediately  prior  to  such  Exercise  Date.
Notwithstanding  the  foregoing,  if there is no reported  closing  price,  last
reported sales price, or bid and ask prices,  as the case may be, for the period
in question,  then the current market price shall be determined as of the latest
ten (10)  day  period  prior to such day for  which  such  closing  price,  last
reported sales price, or bid and ask prices,  as the case may be, are available,
unless  such  securities  have  not  been  traded  on  an  exchange  or  in  the
over-the-counter  market  for 30 or more  days  immediately  prior to the day in
question,  in which case the current  market price shall be  determined  in good
faith by, and reflected in a formal resolution of, the Board of Directors of the
Company. The Company acknowledges and agrees that this Warrant was issued on the
Issuance Date.

                                       2
<PAGE>

         Transferability and Exchange.

                  This Warrant,  and the Common Stock issuable upon the exercise
hereof, may not be sold, transferred, pledged or hypothecated unless the Company
shall  have  been  provided  with an  opinion  of  counsel,  or  other  evidence
reasonably  satisfactory  to it, that such  transfer is not in  violation of the
Securities  Act,  and any  applicable  state  securities  laws.  Subject  to the
satisfaction of the aforesaid condition,  this Warrant and the underlying shares
of Common  Stock  shall be  transferable  from time to time by the  Holder  upon
written notice to the Company,  provided that any such transfer shall be for not
less than twenty five percent  (25%) of the original  number of shares of Common
Stock subject to this Warrant.  If this Warrant is  transferred,  in whole or in
part, the Company shall, upon surrender of this Warrant to the Company,  deliver
to each  transferee  a  Warrant  evidencing  the  rights of such  transferee  to
purchase the number of shares of Common Stock that such  transferee  is entitled
to purchase pursuant to such transfer. The Company may place a legend similar to
the legend at the top of this  Warrant on any  replacement  Warrant  and on each
certificate  representing  shares  issuable upon exercise of this Warrant or any
replacement  Warrants.  Only a registered  Holder may enforce the  provisions of
this Warrant against the Company. A transferee of the original registered Holder
becomes a  registered  Holder only upon  delivery to the Company of the original
Warrant  and an  original  Assignment,  substantially  in the form set  forth in
Exhibit B attached hereto.

                  This Warrant is exchangeable  upon its surrender by the Holder
to the  Company  for new  Warrants  of like tenor and date  representing  in the
aggregate the right to purchase the number of shares purchasable hereunder, each
of such new Warrants to represent the right to purchase such number of shares as
may be designated by the Holder at the time of such surrender.

                                       3
<PAGE>

         Adjustments  to Warrant Price and Number of Shares  Subject to Warrant.
THE WARRANT PRICE AND THE NUMBER OF SHARES OF COMMON STOCK  PURCHASABLE UPON THE
EXERCISE OF THIS  WARRANT ARE SUBJECT TO  ADJUSTMENT  FROM TIME TO TIME UPON THE
OCCURRENCE OF ANY OF THE EVENTS  SPECIFIED IN THIS SECTION 4. FOR THE PURPOSE OF
THIS SECTION 4, "COMMON  STOCK" MEANS SHARES NOW OR HEREAFTER  AUTHORIZED OF ANY
CLASS OF COMMON STOCK OF THE COMPANY AND ANY OTHER STOCK OF THE COMPANY, HOWEVER
DESIGNATED,  THAT HAS THE RIGHT TO PARTICIPATE IN ANY DISTRIBUTION OF THE ASSETS
OR EARNINGS OF THE COMPANY WITHOUT LIMIT AS TO PER SHARE AMOUNT (EXCLUDING,  AND
SUBJECT TO ANY PRIOR RIGHTS OF, ANY CLASS OR SERIES OF PREFERRED STOCK).

                  In  case  the  Company  shall  (i)  pay a  dividend  or make a
distribution in shares of Common Stock or other  securities,  (ii) subdivide its
outstanding  shares  of Common  Stock  into a greater  number of  shares,  (iii)
combine its outstanding  shares of Common Stock into a smaller number of shares,
or (iv) issue by reclassification of its shares of Common Stock other securities
of the Company,  then the Warrant Price in effect at the time of the record date
for such dividend or on the effective date of such  subdivision,  combination or
reclassification,  and/or  the number and kind of  securities  issuable  on such
date,  shall be  proportionately  adjusted  so that the  Holder  of any  Warrant
thereafter  exercised shall be entitled to receive the aggregate number and kind
of shares of Common Stock (or such other  securities other than Common Stock) of
the Company, at the same aggregate Warrant Price, that, if such Warrant had been
exercised  immediately prior to such date, the Holder would have owned upon such
exercise and been entitled to receive by virtue of such dividend,  distribution,
subdivision,  combination or  reclassification.  Such  adjustment  shall be made
successively whenever any event listed above shall occur.

                  Notwithstanding  any  provision  herein  to the  contrary,  no
adjustment in the Warrant Price shall be required unless such  adjustment  would
require an increase or decrease of at least 1% in the Warrant  Price;  provided,
however,  that any  adjustments  which by reason of this  subsection (b) are not
required  to be made shall be  carried  forward  and taken  into  account in any
subsequent  adjustment.  All calculations  under this Section 4 shall be made to
the nearest cent or the nearest one-hundredth of a share, as the case may be.

                  In the event  that at any time,  as a result of an  adjustment
made  pursuant to  subsection  (a) above,  the Holder of any Warrant  thereafter
exercised  shall become  entitled to receive any shares of capital  stock of the
Company other than shares of Common Stock,  thereafter  the number of such other
shares so receivable upon exercise of any Warrant shall be subject to adjustment
from time to time in a manner and on terms as nearly  equivalent as  practicable
to the provisions  with respect to the shares of Common Stock  contained in this
Section 4, and the other provisions of this Warrant shall apply on like terms to
any such other shares.

                  If the Company  merges or  consolidates  into or with  another
corporation or entity,  or if another  corporation or entity merges into or with
the Company  (excluding  such a merger in which the Company is the  surviving or
continuing  corporation  and  which  does not  result  in any  reclassification,
conversion,  exchange,  or  cancellation  of the  outstanding  shares  of Common
Stock),  or if all or substantially all of the assets or business of the Company
are sold or transferred to another  corporation,  entity, or person,  then, as a
condition to such consolidation,  merger, or sale (a "Transaction"),  lawful and
adequate  provision  shall be made  whereby the Holder shall have the right from
and after the Transaction to receive, upon exercise of this Warrant and upon the
terms and  conditions  specified  herein and in lieu of the shares of the Common
Stock  that  would  have  been  issuable  if this  Warrant  had  been  exercised
immediately before the Transaction,  such shares of stock, securities, or assets
as the Holder would have owned  immediately  after the Transaction if the Holder
had  exercised  this  Warrant  immediately  before  the  effective  date  of the
Transaction.

                                       4
<PAGE>

         Registration  Rights. THE COMPANY HEREBY GRANTS TO HOLDER, WITH RESPECT
TO THE SHARES OF COMMON  STOCK  UNDERLYING  THIS  WARRANT,  REGISTRATION  RIGHTS
IDENTICAL  TO THOSE THAT ARE GRANTED TO  PURCHASERS  IN THE  PLACEMENT  (AS SUCH
TERMS ARE DEFINED IN THAT CERTAIN  PLACEMENT AGENCY  AGREEMENT,  DATED AS OF MAY
17, 2005 BY AND BETWEEN THE COMPANY AND STONEGATE); IT BEING SPECIFICALLY AGREED
AND UNDERSTOOD  THAT THE SHARES OF COMMON STOCK  UNDERLYING THIS WARRANT WILL BE
INCLUDED  IN ANY  REGISTRATION  STATEMENT  FILED BY THE COMPANY  WHICH  INCLUDES
SHARES OF COMMON STOCK,  OR SHARES OF COMMON STOCK  UNDERLYING  ANY  SECURITIES,
ISSUED TO PURCHASERS IN THE PLACEMENT.

         Reservation  of Shares.  THE COMPANY AGREES AT ALL TIMES TO RESERVE AND
HOLD  AVAILABLE OUT OF ITS  AUTHORIZED  BUT UNISSUED  SHARES OF COMMON STOCK THE
NUMBER OF  SHARES  OF  COMMON  STOCK  ISSUABLE  UPON THE FULL  EXERCISE  OF THIS
WARRANT.  THE  COMPANY  FURTHER  COVENANTS  AND AGREES THAT ALL SHARES OF COMMON
STOCK  THAT MAY BE  DELIVERED  UPON THE  EXERCISE  OF THIS  WARRANT  WILL,  UPON
DELIVERY,  BE FULLY PAID AND  NONASSESSABLE  AND FREE FROM ALL TAXES,  LIENS AND
CHARGES WITH RESPECT TO THE PURCHASE THEREOF HEREUNDER.

         Notices to Holder.  UPON ANY ADJUSTMENT OF THE WARRANT PRICE (OR NUMBER
OF  SHARES  OF COMMON  STOCK  PURCHASABLE  UPON THE  EXERCISE  OF THIS  WARRANT)
PURSUANT TO SECTION 4, THE COMPANY SHALL PROMPTLY  THEREAFTER  CAUSE TO BE GIVEN
TO THE HOLDER WRITTEN NOTICE OF SUCH  ADJUSTMENT.  SUCH NOTICE SHALL INCLUDE THE
WARRANT PRICE (AND/OR THE NUMBER OF SHARES OF COMMON STOCK  PURCHASABLE UPON THE
EXERCISE  OF THIS  WARRANT)  AFTER  SUCH  ADJUSTMENT,  AND  SHALL  SET  FORTH IN
REASONABLE  DETAIL THE COMPANY'S  METHOD OF CALCULATION AND THE FACTS UPON WHICH
SUCH CALCULATIONS WERE BASED. WHERE  APPROPRIATE,  SUCH NOTICE SHALL BE GIVEN IN
ADVANCE  AND  INCLUDED  AS A PART OF ANY NOTICE  REQUIRED  TO BE GIVEN UNDER THE
OTHER PROVISIONS OF THIS SECTION 7.

         In the event of (a) any  fixing by the  Company  of a record  date with
respect to the holders of any class of securities of the Company for the purpose
of  determining  which  of such  holders  are  entitled  to  dividends  or other
distributions, or any rights to subscribe for, purchase or otherwise acquire any
shares of capital stock of any class or any other securities or property,  or to
receive any other  right,  (b) any capital  reorganization  of the  Company,  or
reclassification  or recapitalization of the capital stock of the Company or any
transfer  of all or  substantially  all of the assets or business of the Company
to, or  consolidation or merger of the Company with or into, any other entity or
person,  or (c) any voluntary or  involuntary  dissolution  or winding up of the
Company,  then and in each such event the Company will give the Holder a written
notice  specifying,  as the case may be (i) the record  date for the  purpose of
such dividend,  distribution,  or right, and stating the amount and character of
such  dividend,  distribution,  or  right;  or (ii) the  date on which  any such
reorganization,  reclassification,  recapitalization,  transfer,  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 capital stock or securities  receivable upon the exercise of this
Warrant)  shall be entitled to exchange  their  shares of Common  Stock (or such
other stock  securities) for securities or other property  deliverable upon such
event.  Any such  notice  shall be given at least 10 days prior to the  earliest
date therein specified.

                                       5
<PAGE>

         No Rights as a Stockholder. THIS WARRANT DOES NOT ENTITLE THE HOLDER TO
ANY VOTING  RIGHTS OR OTHER RIGHTS AS A STOCKHOLDER  OF THE COMPANY,  NOR TO ANY
OTHER RIGHTS WHATSOEVER EXCEPT THE RIGHTS HEREIN SET FORTH.

         Additional Covenants of the Company. FOR SO LONG AS THE COMMON STOCK IS
LISTED FOR TRADING ON ANY  REGIONAL OR  NATIONAL  SECURITIES  EXCHANGE OR NASDAQ
(NATIONAL MARKET OR SMALL CAP SYSTEM),  THE COMPANY SHALL,  UPON ISSUANCE OF ANY
SHARES FOR WHICH THIS WARRANT IS  EXERCISABLE,  AT ITS EXPENSE,  PROMPTLY OBTAIN
AND MAINTAIN THE LISTING OF SUCH SHARES.  THE COMPANY SHALL ALSO COMPLY WITH THE
REPORTING  REQUIREMENTS OF SECTIONS 13 AND 15(D) OF THE EXCHANGE ACT FOR SO LONG
AS AND TO THE EXTENT THAT SUCH REQUIREMENTS APPLY TO THE COMPANY.

         The Company shall not, by amendment of its Articles of Incorporation or
through  any  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 of this
Warrant.  Without limiting the generality of the foregoing, the Company (a) will
at all times reserve and keep  available,  solely for issuance and delivery upon
exercise of this Warrant, shares of Common Stock issuable from time to time upon
exercise of this  Warrant,  (b) will not increase the par value of any shares of
capital stock  receivable upon exercise of this Warrant above the amount payable
therefor  upon  such  exercise,  and (c) will  take all such  actions  as may be
necessary or appropriate in order that the Company may validly and legally issue
fully paid and nonassessable stock.

         Successors and Assigns.  THIS AGREEMENT SHALL BE BINDING UPON AND INURE
TO THE BENEFIT OF THE COMPANY,  THE HOLDER AND THEIR  RESPECTIVE  SUCCESSORS AND
PERMITTED ASSIGNS.

         Notices.  THE COMPANY  AGREES TO MAINTAIN A LEDGER OF THE  OWNERSHIP OF
THIS WARRANT (THE "LEDGER").  ANY NOTICE  HEREUNDER SHALL BE GIVEN BY REGISTERED
OR CERTIFIED MAIL IF TO THE COMPANY,  AT ITS PRINCIPAL  EXECUTIVE OFFICE AND, IF
TO THE HOLDER,  TO ITS  ADDRESS  SHOWN IN THE LEDGER OF THE  COMPANY;  PROVIDED,
HOWEVER, THAT THE HOLDER MAY AT ANY TIME ON THREE (3) DAYS WRITTEN NOTICE TO THE
COMPANY  DESIGNATE OR  SUBSTITUTE  ANOTHER  ADDRESS WHERE NOTICE IS TO BE GIVEN.
NOTICE  SHALL BE DEEMED  GIVEN AND  RECEIVED  AFTER A  CERTIFIED  OR  REGISTERED
LETTER, PROPERLY ADDRESSED WITH POSTAGE PREPAID, IS DEPOSITED IN THE U.S. MAIL.

         Severability.  EVERY  PROVISION  OF  THIS  WARRANT  IS  INTENDED  TO BE
SEVERABLE.  IF ANY TERM OR PROVISION HEREOF IS ILLEGAL OR INVALID FOR ANY REASON
WHATSOEVER, SUCH ILLEGALITY OR INVALIDITY SHALL NOT AFFECT THE REMAINDER OF THIS
WARRANT.

         Governing  Law.  THIS  WARRANT  SHALL BE GOVERNED BY AND  CONSTRUED  IN
ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA WITHOUT GIVING EFFECT TO THE
PRINCIPLES OF CHOICE OF LAWS THEREOF.

         Attorneys'  Fees.  IN ANY ACTION OR  PROCEEDING  BROUGHT TO ENFORCE ANY
PROVISION OF THIS  WARRANT,  THE  PREVAILING  PARTY SHALL BE ENTITLED TO RECOVER
REASONABLE  ATTORNEYS'  FEES IN ADDITION TO ITS COSTS AND EXPENSES AND ANY OTHER
AVAILABLE REMEDY.

         Entire Agreement. THIS WARRANT (INCLUDING THE EXHIBITS ATTACHED HERETO)
CONSTITUTES  THE ENTIRE  UNDERSTANDING  BETWEEN  THE COMPANY AND THE HOLDER WITH
RESPECT TO THE SUBJECT  MATTER HEREOF,  AND  SUPERSEDES ALL PRIOR  NEGOTIATIONS,
DISCUSSIONS, AGREEMENTS AND UNDERSTANDINGS RELATING TO SUCH SUBJECT MATTER.

         IN WITNESS WHEREOF,  the Company has caused this Warrant to be executed
by its duly authorized officer as of the date first set forth above.

                                 INTRAOP MEDICAL CORPORATION

                                 By: _________________________________________

                                 Title:_______________________________________

                                       6
<PAGE>

                                    EXHIBIT A

                                SUBSCRIPTION FORM

         (To be Executed by the Holder to Exercise the Rights To Purchase Common
Stock Evidenced by the Within Warrant)

         The undersigned hereby  irrevocably  subscribes for _______ shares (the
"Stock") of the Common  Stock of Intraop  Medical  Corporation  (the  "Company")
pursuant to and in  accordance  with the terms and  conditions  of the  attached
Warrant  (the  "Warrant"),  and hereby  makes  payment of  $_______  therefor by
[tendering  cash,  wire  transferring  or  delivering a certified  check or bank
cashier's  check,  payable to the order of the  Company]  [surrendering  _______
shares of Common Stock received upon exercise of the Warrant,  which shares have
a current  market  price  equal to such  payment as required in Section 2 of the
Warrant]. The undersigned requests that a certificate for the Stock be issued in
the name of the  undersigned  and be delivered to the undersigned at the address
stated below. If the Stock is not all of the shares purchasable  pursuant to the
Warrant,  the  undersigned  requests  that a new  Warrant  of like tenor for the
balance of the  remaining  shares  purchasable  thereunder  be  delivered to the
undersigned at the address stated below.

         In connection with the issuance of the Stock, I hereby represent to the
Company that I am acquiring the Stock for my own account for  investment and not
with a view to, or for resale in connection  with, a distribution  of the shares
within the meaning of the  Securities  Act of 1933, as amended (the  "Securities
Act").

         I understand that because the Stock has not been  registered  under the
Securities  Act,  I must  hold  such  Stock  indefinitely  unless  the  Stock is
subsequently registered and qualified under the Securities Act or is exempt from
such registration and qualification.  I shall make no transfer or disposition of
the  Stock  unless  (a)  such  transfer  or  disposition  can  be  made  without
registration  under the  Securities  Act by reason of a specific  exemption from
such registration and such  qualification,  or (b) a registration  statement has
been filed pursuant to the  Securities Act and has been declared  effective with
respect to such  disposition.  I agree that each  certificate  representing  the
Stock  delivered  to me shall  bear  substantially  the same as set forth on the
front page of the Warrant.

         I agree that each  certificate  representing  the Stock delivered to me
shall bear  substantially  the same legend as set forth on the front page of the
Warrant.

         I  further  agree  that  the  Company  may  place  stop  orders  on the
certificates  evidencing the Stock with the transfer  agent, if any, to the same
effect as the above  legend.  The legend and stop  transfer  notice  referred to
above shall be removed only upon my  furnishing  to the Company of an opinion of
counsel (reasonably  satisfactory to the Company) to the effect that such legend
may be removed.

Date:___________________           Signed:____________________________________

                                   Address:___________________________________

                                      A-1

<PAGE>

                                    EXHIBIT B

                                   ASSIGNMENT

         (To be  Executed  by the  Holder to  Effect  Transfer  of the  Attached
Warrant)

For  Value  Received   __________________________   hereby  sells,  assigns  and
transfers  to  _________________________  the  Warrant  attached  hereto and the
rights  represented  thereby to  purchase  _________  shares of Common  Stock in
accordance  with the terms and conditions  hereof,  and does hereby  irrevocably
constitute  and appoint  _________________________  as attorney to transfer such
Warrant on the books of the Company with full power of substitution.

Dated:________________________            Signed: _____________________________

Please print or typewrite                 Please insert Social Security
name and address of                       or other Tax Identification
assignee:                                 Number of Assignee:

-----------------------------             ------------------------------------

-----------------------------

-----------------------------

                                      B-1

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