Document:

Second Amendment to Securities Purchase Agreement

 Exhibit 4.1 
 CARDIODYNAMICS INTERNATIONAL CORPORATION 
 SECOND AMENDMENT TO 
 SECURITIES PURCHASE AGREEMENT 
 This Second Amendment
to SECURITIES PURCHASE AGREEMENT (this “Amendment”), is made and entered into as of November 29, 2006, by and among CardioDynamics International Corporation, a California corporation
(the “Company”), and the purchasers listed on Schedule A attached hereto (collectively, the “Purchasers” and individually, a “Purchaser”). (Capitalized terms not otherwise defined herein shall have the meanings ascribed
in the Agreement (as defined below.)) 
 Section 2.6 of that certain Securities Purchase Agreement (the “Agreement”)
by, between and among the parties set forth above and on Schedule A hereto is hereby replaced with the following: 
 “Anti-dilution. To maintain the value of Purchaser’s Conversion Right, the protections set forth in this paragraph 2.6 are being provided to the Purchaser. If the Company at any time on or after the Closing Date subdivides
(by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Conversion Price in effect immediately prior to such subdivision will be
proportionately reduced. If the Company at any time on or after the Closing Date combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the
Conversion Price in effect immediately prior to such combination will be proportionately increased. If any equity restructuring event occurs of the type contemplated by the provisions of this Section 2.6 but not expressly provided for by such
provisions (including, without limitation, a nonreciprocal transaction between an entity and its shareholders that causes the per-share fair value of the shares underlying the option or similar award to change, such as a spin-off, rights offering,
or recapitalization through a large, nonrecurring cash dividend), then the Company’s Board of Directors will make an appropriate adjustment in the Conversion Price so as to protect the rights of the Purchaser. However, no adjustment to the
Exercise Price will be made (i) upon the exercise of any warrants, options or convertible securities granted, issued and outstanding on the date of issuance of the Notes; (ii) upon the grant or exercise of any stock or options which
may hereafter be granted or exercised under any employee benefit plan of the Company now existing or to be implemented in the future, so long as the issuance of such stock or options is approved by a majority of the independent members of the Board
of Directors of the Company or a majority of the members of a committee of independent directors established for such purpose; or (iii) upon the conversion of the Notes.” 
  

 1 

 Section 5 of that certain Securities Purchase Agreement (the “Agreement”) by,
between and among the parties set forth above and on Schedule A hereto is hereby amended by replacing any reference to Section 6 with Section 5 and replacing the word “remedy” in Section 5.1.2 with “interest rate
increase and redemption right” 
 IN WITNESS WHEREOF, the parties to
this Amendment have caused this Amendment to be executed by their duly authorized representatives as of the day and year first above written. 
  

			
	CARDIODYNAMICS INTERNATIONAL CORPORATION
		
	By:	 	/s/ Michael K. Perry
		
	Name:	 	Michael K. Perry
		
	Its:	 	Chief Executive Officer
		
	Fax No	 	(858) 623-8415

  

			
	BALYASNY ASSET MANAGEMENT, LP
		
	By:	 	/s/ Scott H. Schroeder
		
	Name:	 	Scott H. Schroeder
		
	Its:	 	Authorized Signatory

  

			
	ATLAS MASTER FUND, LTD.
		
	By:	 	/s/ Scott H. Schroeder
		
	Name:	 	Scott H. Schroeder
		
	Its:	 	Authorized Signatory

  

 2 

 Schedule A 
 PURCHASERS 
 Name and Address of Purchaser 
 Atlas Master Fund, Ltd.* 
 c/o Balyasny Asset 
 Management L.P. 
 650 Madison Avenue – 19th Floor 
 New York, NY 10022 
 Attention: Allen Silberstein 
 Visium Balanced Fund, LP 
 c/o Balyasny Asset 
 Management L.P. 
 650 Madison Avenue – 19th Floor

 New York, NY 10022 
 Attention: Allen Silberstein 

Visium Balanced Fund Offshore, Ltd. 
 c/o Balyasny Asset 
 Management L.P. 
 650 Madison Avenue – 19th Floor 
 New York, NY 10022

 Attention: Allen Silberstein 
 Visium Long Bias Fund, LP

 c/o Balyasny Asset 
 Management L.P. 
 650 Madison Avenue – 19th Floor

 New York, NY 10022 
 Attention: Allen Silberstein 

Visium Long Bias Fund Offshore, Ltd. 
 c/o Balyasny Asset 
 Management L.P. 
 650 Madison Avenue – 19th Floor 
 New York, NY 10022

 Attention: Allen Silberstein 
  

 3First Amendment to Convertible Subordinated Notes

 Exhibit 10.1 
 CARDIODYNAMICS INTERNATIONAL CORPORATION 
 FIRST AMENDMENT TO 
 SUBORDINATED CONVERTIBLE NOTES 
 This First Amendment
to SUBORDINATED CONVERTIBLE NOTES (this “Amendment”), is made and entered into as of November 29, 2006, by and among CardioDynamics International Corporation, a California
corporation (the “Company”), and the Holders listed on Schedule A attached hereto (collectively, the “Holders” and individually, a “Holder”). (Capitalized terms not otherwise defined herein shall
have the meanings ascribed in the Agreement (as defined below.)) 
 Section 1 of that certain Subordinated Convertible Notes (the
“Notes”) by, between and among the parties set forth above and on Schedule A hereto is hereby amended to extend the “Original Maturity Date”, from April 11, 2009 to April 11, 2011. 
 Section 6(b) of the Notes by, between and among the parties set forth above and on Schedule A hereto is hereby replaced with the following:

 “Other Events. If any equity restructuring event occurs of the type contemplated by the provisions of this Section 6 but
not expressly provided for by such provisions (including, without limitation, a nonreciprocal transaction between an entity and its shareholders that causes the per-share fair value of the shares underlying the option or similar award to change,
such as a spin-off, rights offering, or recapitalization through a large, nonrecurring cash dividend, but not including stock options or other equity awards granted under a shareholder approved equity compensation plan), then the Company’s
Board of Directors will make an appropriate adjustment in the Conversion Price so as to protect the rights of the Holder under this Note; provided that no such adjustment will increase the Conversion Price as otherwise determined pursuant to this
Section 6.” 
 Section 7(b) of the Notes by, between and among the parties set forth above and on Schedule A hereto is
hereby inserted with the following: 
 Repurchase Right (Put Option) 
 (a) Notes shall be purchased by the Company at the option of the Holders on April 11, 2009 (“Repurchase Date”). Each Holder shall
have the right, at such Holder’s option, to require the Company to repurchase all of such Holder’s Notes, or any portion thereof (in principal amounts of One Thousand United States Dollars ($1,000) or integral multiples thereof), on the
Repurchase Date (“Repurchase Right”). Such repurchase shall be made in cash at a price equal to 100% of the principal amount of Notes such Holder elects to require the Company to repurchase together, in each case, with accrued
interest, if any, to Repurchase Date (the “Repurchase Price”). 

 Notices: Method of Exercising Repurchase Right, Etc. 
 (a) To exercise a Repurchase Right, a Holder shall deliver to the Company on or before the close of business on the Business Day 90 days prior to the
Repurchase Date (i) written notice to the Company (or agent designated by the Company for such purpose) of the Holder’s exercise of such right, (the “Repurchase Notice”) which Repurchase Notice shall set forth the name of
the Holder, the principal amount of the Notes to be repurchased, and a statement that an election to exercise the Repurchase Right is being made thereby, and (ii) the Notes with respect to which the Repurchase Right is being exercised, duly
endorsed for transfer to the Company. Election of repurchase by a Holder shall be revocable at any time prior to the close of business on the last Business Day prior to the Repurchase Date, by delivering written notice to that effect to the Company
prior to the close of business on the Business Day prior to the Repurchase Date. 
 (b) In addition, Holder shall send to the parties set
forth above and on Schedule A hereto, a copy of the Repurchase Notice. 
 (c) If the Company fails to repurchase on the Repurchase Date any
Notes (or portions thereof) as to which the Repurchase Right has been properly exercised, then the principal of such Notes shall, until paid, bear interest to the extent permitted by applicable law from the Repurchase Date at the default rate
(14%) borne by the Note and each such Note shall be convertible into Common Stock in accordance with this Note at the option of the Holder until the principal of such Note shall have been paid or duly provided for. 
 (d) Any Note that is to be repurchased only in part shall be surrendered to the Company duly endorsed for transfer and accompanied by appropriate evidence
of genuineness and authority satisfactory to the Company duly executed by, the Holder thereof (or his attorney duly authorized in writing), and the Company shall execute and deliver to the Holder of such Note without service charge, a new Note or
Notes, containing identical terms and conditions, of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unrepurchased portion of the principal of the Note as surrendered.

 (e) On or prior to 1:00 p.m., New York city time on the Repurchase Date, the Company shall pay the Repurchase Price in cash to the
Holder(s) which have duly exercised their Repurchase Rights pursuant this Section 7(b), then on and after such date interest on such Notes (or portions thereof) shall cease to accrue and such Notes shall cease at the close of business on such
date to be convertible into Common Stock or entitled to any benefit or security under this Note and the Holders thereof shall have no right in respect of such Notes. 
 (f) If the Company is unable to repurchase on the Repurchase Date all of the Notes (or portions thereof) as to which the Repurchase Right has been properly exercised, the aggregate amount of Notes the Company may
repurchase shall be allocated pro rata 

 
among each Note (or portion thereof) surrendered for repurchase, based on the principal amount of such Note, in proportion to the aggregate amount of Notes
surrendered for repurchase. 
 IN WITNESS WHEREOF, the parties to this Amendment have
caused this Amendment to be executed by their duly authorized representatives as of the day and year first above written. 
  

			
	CARDIODYNAMICS INTERNATIONAL CORPORATION
		
	By:	 	/s/ Michael K. Perry
		
	Name:	 	Michael K. Perry
		
	Its:	 	Chief Executive Officer
		
	Fax No	 	(858) 623-8415

  

			
	BALYASNY ASSET MANAGEMENT, LP
		
	By:	 	/s/ Scott H. Schroeder
		
	Name:	 	Scott H. Schroeder
		
	Its:	 	Authorized Signatory

  

			
	ATLAS MASTER FUND, LTD.
		
	By:	 	/s/ Scott H. Schroeder
		
	Name:	 	Scott H. Schroeder
		
	Its:	 	Authorized Signatory

 Schedule A 
 PURCHASERS 
 Name and Address of Purchaser 
 Atlas Master Fund, Ltd.* 
 c/o Balyasny Asset 
 Management L.P. 
 650 Madison Avenue – 19th Floor 
 New York, NY 10022 
 Attention: Allen Silberstein 
 Visium Balanced Fund, LP 
 c/o Balyasny Asset 
 Management L.P. 
 650 Madison Avenue – 19th Floor

 New York, NY 10022 
 Attention: Allen Silberstein 

Visium Balanced Fund Offshore, Ltd. 
 c/o Balyasny Asset 
 Management L.P. 
 650 Madison Avenue – 19th Floor 
 New York, NY 10022

 Attention: Allen Silberstein 
 Visium Long Bias Fund, LP

 c/o Balyasny Asset 
 Management L.P. 
 650 Madison Avenue – 19th Floor

 New York, NY 10022 
 Attention: Allen Silberstein 

Visium Long Bias Fund Offshore, Ltd. 
 c/o Balyasny Asset 
 Management L.P. 
 650 Madison Avenue – 19th Floor 
 New York, NY 10022

 Attention: Allen Silberstein

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