Document:

Certificate of Designations of Series K Convertible Preferred Stock

 Exhibit 4.3 
 CERTIFICATE OF DESIGNATIONS OF 
 SERIES K CONVERTIBLE PREFERRED STOCK 
 OF 
 DIAMETRICS MEDICAL, INC.

 a Minnesota corporation 
 The undersigned, being the duly elected and acting Chief Executive Officer of Diametrics Medical, Inc., a Minnesota corporation (the “Corporation”), hereby certifies that pursuant to the authority contained in Article 3 of
the Corporation’s Amended and Restated Articles of Incorporation, as amended, and in accordance with the provisions of Minnesota Statutes, Section 302A.401, Subd. 3(b), the Corporation’s Board of Directors has adopted the
following resolutions creating a series of its Preferred Stock designated as Series K Convertible Preferred Stock: 
 WHEREAS, the
Corporation’s Amended and Restated Articles of Incorporation provides for a class of shares known as Preferred Stock, issuable from time to time in one or more series; and 
 WHEREAS, the Board of Directors of the Corporation is authorized to determine or alter the rights, preferences, privileges and restrictions granted to or
imposed upon any wholly unissued shares of Preferred Stock, to fix the number of shares constituting any such series, and to determine the designation thereof, or any of any of them. 
 NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors hereby fixes and determines the designations of, the number of shares constituting, and the
rights, preferences, privileges and restrictions relating to, a new series of Preferred Stock as follows: 
 (a) Designation. The
series of Preferred Stock is hereby designated Series K Convertible Preferred Stock (the “Series K Preferred Stock”). 
 (b) Authorized Shares. The number of authorized shares constituting the Series K Preferred Stock shall be 4,300 shares of such series. 
 (c) Dividends. Subject to the prior rights of holders of all classes of stock at the time outstanding having prior rights as to dividends, the holders of issued and outstanding shares of Series K Preferred
Stock shall be entitled to receive, when, as and if declared by the Board of Directors, out of any assets of the Corporation legally available therefor, such dividends as may be declared from time to time by the Board of Directors, on a pro rata
basis with the issued and outstanding shares of Common Stock of the Corporation, based on the number of shares of Common Stock into which the issued and outstanding shares of Series K Preferred is convertible at the applicable record date for
dividends. 
 (d) Voting Rights. The holders of the issued and outstanding shares of Series K Preferred Stock shall have full voting
rights, with each share of Series K Preferred Stock having a number of votes equal to the number of shares of Common Stock into which it is convertible at the applicable record date, and except as otherwise required by law, the holders of Series K
Preferred Stock shall vote together with holders of Common Stock as a single class. 

 (e) Automatic Conversion. All issued and outstanding shares of Series K Preferred Stock shall
automatically, without any action by the holder thereof, convert into fully paid and nonassessable shares of Common Stock at the conversion rate in effect at the time of conversion, determined as provided herein upon the first to occur of either
(i) an amendment to the Company’s Amended and Restated Articles of Incorporation or (ii) the merger of the Company into a Delaware corporation, in either case resulting in a sufficient number of authorized shares of Common Stock to
issue the number of shares of Common Stock that are issuable upon conversion of all outstanding shares of Series K Preferred Stock (each, a “Conversion Event”). 
 (i) Mechanics of Conversion. After a Conversion Event, any holder of Series K Preferred Stock may surrender the certificate or certificates
therefor, duly endorsed, at the office of the Corporation or of any transfer agent for the Common Stock. Thereupon, the Corporation shall promptly issue and deliver at such office to such holder of Series K Preferred Stock a certificate or
certificates for the number of shares of Common Stock to which he shall be entitled. 
 (ii) Conversion Multiple. Each share of Series
K Preferred Stock shall be convertible into 2,583.7209 shares of Common Stock, which shall be subject to adjustment from time to time in certain instances, as provided below in this paragraph (e). The number of shares into which each share of Series
K Preferred Stock is convertible under the prior sentence is the initial “Conversion Multiple” hereunder. The number of shares of Common Stock issued upon conversion of the Series K Preferred Stock shall be rounded up or down to the
nearest whole share. 
 (iii) Adjustment for Stock Splits and Combinations. If the Corporation shall at any time, or from time to time
after the date Series K Preferred Stock is first issued (the “Original Issuance Date”), effect a subdivision of the outstanding Common Stock, the Conversion Multiple in effect immediately prior to the subdivision shall be
proportionately decreased, and conversely, if the Corporation shall at any time or from time to time after the Original Issuance Date combine the outstanding shares of Common Stock, the Conversion Multiple then in effect immediately before the
combination shall be proportionately increased. Any adjustment under this paragraph (e)(iii) shall become effective at the close of business on the date the subdivision or combination becomes effective. 
 (iv) Adjustment for Certain Dividends and Distributions. In the event the Corporation at any time, or from time to time after the Original
Issuance Date, shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in additional shares of Common Stock, then and in each such event the Conversion
Multiple for the Series K Preferred Stock then in effect shall be increased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the Conversion
Multiple for such Series K Preferred Stock then in effect by a fraction: 
 (A) the numerator of which shall be the total
number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution, and

  

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 (B) the denominator of which shall be the total number of shares of Common Stock issued
and outstanding immediately prior to the time of such issuance or the close of business on such record date, and 
 provided, however, if such
record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Conversion Multiple for the Series K Preferred Stock shall be recomputed accordingly as of the close of
business on such record date and thereafter, the Conversion Multiple for the Series K Preferred Stock shall be adjusted pursuant to this paragraph (e)(iv) as of the time of actual payment of such dividends or distributions. 
 (v) Adjustments for Other Dividends and Distributions. In the event the Corporation at any time or from time to time after the Original Issuance
Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in securities of the Corporation other than shares of Common Stock, then and in each such
event provision shall be made so that the holders of shares of Series K Preferred Stock shall receive upon conversion thereof in addition to the number of shares of Common Stock receivable thereupon, the amount of securities of the Corporation that
they would have received had their Series K Preferred Stock been converted into Common Stock on the date of such event and had thereafter, during the period from the date of such event to and including the conversion date, retained such securities
receivable by them as aforesaid during such period giving application to all adjustments called for during such period under this paragraph (e) with respect to the rights of the holders of the Series K Preferred Stock. 
 (vi) Adjustment for Reclassification Exchange or Substitution. If the Common Stock issuable upon the conversion of the Series K Preferred Stock
shall be changed into the same or a different number of shares of any class or classes of stock, whether by capital reorganization, reclassification or otherwise (other than a subdivision or combination of shares or stock dividend provided for
above, or a reorganization, merger, consolidation or sale of assets provided for elsewhere in this paragraph (e)), then and in each such event the Series K Preferred Stock shall thereafter be convertible into the kind and amount of shares of stock
and other securities and property receivable upon such reorganization, reclassification or other change, by holders of the number of shares of Common Stock into which such shares of Series K Preferred Stock might have been converted immediately
prior to such reorganization, reclassification or other change, all subject to further adjustment as provided herein. 
 (vii)
Reorganization, Mergers, Consolidations or Sales of Assets. If at any time or from time to time there shall be a capital reorganization of the Common Stock (other than a subdivision, combination, reclassification or exchange of shares
provided for elsewhere in this paragraph (e)) or a merger or consolidation of the Corporation with or into another corporation, or the sale of all or substantially all of the Corporation’s properties and assets to any other person, then, as a
part of such reorganization, merger, consolidation or sale, provision shall be made so that the holders of the Series K Preferred Stock shall thereafter be entitled to receive upon conversion of such Series K Preferred Stock, the number of shares of
stock or other securities or property of the Corporation or of the successor corporation resulting from such merger or consolidation or sale, to which a holder of Common Stock deliverable upon conversion would have been entitled on such capital
reorganization, merger, consolidation or 
  

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 sale. In any such case, appropriate adjustment shall be made in the application of the provisions of this paragraph
(e) with respect to the rights of the holders of the Series K Preferred Stock after the reorganization, merger, consolidation or sale to the end that the provisions of this paragraph (e) (including adjustment of the Conversion Multiple
then in effect and the number of shares purchasable upon conversion of the Series K Preferred Stock) shall be applicable after that event as nearly equivalent as may be practicable. For the avoidance of doubt, upon the merger of the Corporation into
a Delaware corporation, which resulting in a sufficient number of authorized shares of Common Stock to issue the number of shares of Common Stock that are issuable upon conversion of all outstanding shares of Series K Preferred Stock, the issued and
outstanding shares of Series K Preferred Stock shall automatically convert into shares of Common Stock, and as Common Stock, the holders thereof shall be entitled to receive the type and amount of consideration specified in the merger agreement for
such merger with respect to shares of issued and outstanding Common Stock of the corporation. 
 (viii) Certificate of Adjustment. In
each case of an adjustment or readjustment of the Conversion Multiple for the number of shares of Common Stock or other securities issuable upon conversion of the Series K Preferred Stock, the Corporation shall compute such adjustment or
readjustment in accordance herewith and the Corporation’s Chief Financial Officer shall prepare and sign a certificate showing such adjustment or readjustment, and shall mail such certificate by first class mail, postage prepaid, to each
registered holder of the Series K Preferred Stock at the holder’s address as shown in the Corporation’s books. The certificate shall set forth such adjustment or readjustment, and the facts upon which such adjustment or readjustment is
based. 
 (ix) Notices of Record Date. In the event of (A) any taking by the Corporation of a record of the holders of any class
or series of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution or (B) any reclassification or recapitalization of the capital stock of the Corporation, any merger or
consolidation of the Corporation or any transfer of all or substantially all of the assets of the Corporation to any other corporation, entity or person, or any voluntary or involuntary dissolution, liquidation or winding up of the Corporation, the
Corporation shall provide to each holder of Series K Preferred Stock at least 10 days prior to the record date specified therein, a notice specifying (1) the date on which any such record is to be taken for the purpose of such dividend or
distribution and a description of such dividend or distribution, (2) the date on which any such reorganization, reclassification, transfer, consolidation, merger, dissolution, liquidation or winding up is expected to become effective and
(3) the time, if any is to be fixed, as to when the holders of record of Common Stock (or other securities) shall be entitled to exchange their shares, of Common Stock (or other securities) for securities or other property deliverable upon such
reorganization, reclassification, transfer, consolidation, merger, dissolution, liquidation or winding up. 
 (x) Fractional Shares.
No fractional shares of Common Stock shall be issued upon conversion of the Series K Preferred Stock. In lieu of any fractional shares to which the holder would otherwise be entitled, the Corporation shall pay cash equal to the product of such
fraction multiplied by the fair market value of one share of the Corporation’s Common Stock on the date of conversion, as determined in good faith by the Board of Directors. 
  

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 (xi) Reservation of Stock Issuable Upon Conversion. The Corporation shall have no obligation to
reserve and keep available out of its authorized but unissued shares of Common Stock, sufficient shares of Common Stock to effect the conversion of all outstanding shares of Series K Preferred Stock. 
 (xii) Notices. Any notice required by the provisions of this paragraph (f) to be given to the holders of shares of Series K Preferred Stock
shall be deemed given (A) if deposited in the United States mail, postage prepaid, or (B) if given by any other reliable or generally accepted means (including by facsimile or by a nationally recognized overnight courier service or
personal delivery), in each case addressed to each holder of record at his address (or facsimile number) appearing on the books of the Corporation. 
 (xiii) Payment of Taxes. The Corporation will pay all transfer taxes and other governmental charges that may be imposed in respect of the issue or delivery of shares of Common Stock upon conversion of shares of Series K Preferred
Stock. 
 (f) No Reissuance of Preferred Stock. Any shares of Series K Preferred Stock acquired by the Corporation by reason of
purchase, conversion or otherwise shall be canceled, retired and eliminated from the shares of Series K Preferred Stock that the Corporation shall be authorized to issue. All such shares shall upon their cancellation become authorized but unissued
shares of Preferred Stock and may be reissued as part of a new series of Preferred Stock subject to the conditions and restrictions on issuance set forth in the Articles of Incorporation or in any certificate of designation creating a series of
Preferred Stock or any similar stock or as otherwise required by law. 
 (g) Severability. If any right, preference or limitation of
the Series K Preferred Stock set forth herein is invalid, unlawful or incapable of being enforced by reason of any rule, law or public policy, all other rights, preferences and limitations set forth herein that can be given effect without the
invalid, unlawful or unenforceable right, preference or limitation shall nevertheless remain in full force and effect, and no right, preference or limitation herein shall be deemed dependent upon any other such right, preference or limitation unless
so expressed herein. 
 IN WITNESS WHEREOF, Diametrics Medical, Inc. has caused this Certificate of Designations of Series K Preferred Stock
to be executed by W. Bruce Comer III, its Chief Executive Officer, this 20th day of September, 2006. 
  

	
	 /s/ W. Bruce Comer, III
  

	 W. Bruce Comer III, Chief Executive Officer

  

 -5-Registration Rights Agreement for the Series J Convertible Preferred Stock

 Exhibit 4.4 
 EXECUTION COPY 
 REGISTRATION RIGHTS AGREEMENT 
 THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is dated as of September 20, 2006, between Monarch Pointe Fund, Ltd.
(“Monarch”), Mercator Momentum Fund, L.P. (“MMF”), Mercator Momentum Fund III, L.P. (“MMF III”), M.A.G. Capital, LLC (“MAG”) and each of the undersigned
additional accredited investors signatories hereto (the “Accredited Investors,” and together with M.A.G, Monarch, MMF and MMF III, referred to individually as a “Holder” and collectively as the
“Holders”) and Diametrics Medical, Inc. a Minnesota corporation (the “Company”). 
 WHEREAS, on the date hereof, the Holders (other than MAG) have purchased from the Company, for aggregate consideration of $28,500,000, 2,850 shares of the Company’s Series J Convertible Preferred Stock (the “Series J
Stock”), and have the right to cause such Series J Stock to be converted into shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), pursuant to the conversion formula set
forth in the Certificate of Designations of Series J Convertible Preferred Stock as filed with the Secretary of State of the State of Minnesota on or about September 20, 2006 (the “Certificate of Designations”);

 WHEREAS, on the date hereof, MAG has acquired warrants (the “Warrants”) from the Company, pursuant to which
MAG has the right to purchase in the aggregate up to 6,500,000 shares of Common Stock; and 
 WHEREAS, the Company desires to grant to
the Holders the registration rights set forth herein with respect to the shares of Common Stock issuable upon the conversion of the Series J Stock and the exercise of the Warrants. 
 NOW, THEREFORE, the parties hereto mutually agree as follows: 
 1. Registrable Securities. As used herein the terms “Registrable Security” means each share of Common Stock (A) issuable (i) upon the conversion of the Series J Stock
(the “Conversion Shares”), (ii) upon exercise of the Warrants (the “Warrant Shares”) or (iii) upon the exercise or conversion of the other securities set forth in Section 2(b) hereof and
(B) issued as a dividend or other distribution with respect to or in exchange for or in replacement of the shares referenced in clause (A) above, provided, however, that with respect to any particular Registrable Security, such
security shall cease to be a Registrable Security as of the date of determination that it has been effectively registered under the Securities Act of 1933, as amended (the “Securities Act”), and disposed of pursuant thereto.
The term “Registrable Securities” means any and/or all of the securities falling within the foregoing definition of a “Registrable Security.” In the event of any merger, reorganization, consolidation,
recapitalization or other change in corporate structure affecting the Common Stock, such adjustment shall be made in the definition of “Registrable Security” as is appropriate in order to prevent any dilution or enlargement of the rights
granted pursuant to this Section 1. 
  

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 2. Registration. 
 (a) The Company shall prepare or file a registration statement on Form SB-2 or Form S-3 (the “Registration Statement”) with the
Securities and Exchange Commission (the “SEC”) no later than the later of (x) the date that is ninety (90) days from the date hereof or (y) the date that is five (5) business days following the receipt of
the Shareholder Approval (as defined in the Certificate of Designations) (such date of filing, the “Filing Date”), in order to register the resale of the Registrable Securities under the Securities Act. The Company shall use
its commercially reasonable efforts to cause the Registration Statement to be declared effective no later than the date that is 60 days after the Filing Date in the event the SEC has no comments on the Registration Statement (or by the date that is
120 days after the Filing Date in the event the SEC has comments on the Registration Statement). Once effective, the Company shall use its commercially reasonable efforts to maintain the effectiveness of the Registration Statement until earlier of
the date that all of the Registrable Securities have been sold and the third anniversary of the effectiveness date of such Registration Statement (such date, the “Expiration Date”). 
 (b) The Company will initially include in the Registration Statement as Registrable Securities (i) the maximum number of shares of Common Stock
issuable upon conversion of the Series J Stock, (ii) the maximum number of shares of Common Stock issuable upon exercise of the Warrants, (iii) the maximum number of shares of Common Stock issued or issuable upon the conversion of all
outstanding shares of Series H Convertible Preferred Stock, Series I Convertible Preferred Stock and the $750,000 Convertible Promissory Notes issued by the Company prior to the date hereof, (iv) the maximum number of shares of Common Stock
issued or issuable upon the exercise of all outstanding warrants issued by the Company on or prior to the date hereof and (v) and the maximum number of shares of Common Stock issued or issuable upon the exercise of all outstanding stock options
issued by the Company on or prior to the date hereof. 
 (c) In the event that the Company fails to have the Registration Statement declared
effective by the SEC by the date that is 60 days after the Filing Date, in the event the SEC has no comments on the Registration Statement, or by the date that is 120 days after the Filing Date, in the event the SEC has comments on the Registration
Statement, or maintain the effectiveness of the Registration Statement thereafter (each, a “Registration Effectiveness Default”), then the Company shall pay the Holders an amount equal to $6,250 for each day that such
Registration Effectiveness Default remains uncured; provided, however, that the obligation of the Company to pay such amount shall cease on the second anniversary of the date hereof. The Company shall pay such amount upon demand to MAG, for
distribution pro rata to the Holders, by wire transfer of immediately available funds to such account as MAG may designate in writing to the Company. 
 3. Covenants of the Company with Respect to Registration. 
 The Company covenants and agrees as
follows: 
 (a) If any stop order shall be issued by the SEC in connection therewith, the Company shall use its commercially reasonable
efforts to obtain promptly the removal of such 
  

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 order. Following the effective date of the Registration Statement, the Company shall, upon the request of any Holder,
forthwith supply such reasonable number of copies of the Registration Statement, preliminary prospectus and prospectus meeting the requirements of the Securities Act, and any other documents necessary or incidental to the public offering of the
Registrable Securities, as shall be reasonably requested by any Holder to permit such Holder to make a public distribution of such Holder’s Registrable Securities. The obligations of the Company hereunder with respect to any Holder’s
Registrable Securities are subject to such Holder’s furnishing to the Company such appropriate information concerning such Holder, such Holder’s Registrable Securities and the terms of such Holder’s offering of such Registrable
Securities as the Company may reasonably request in writing. 
 (b) Prepare and file with the SEC such amendments and supplements to such
Registration Statement and the prospectus used in connection with such Registration Statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration
Statement; 
 (c) Notify each seller of Registrable Securities covered by such Registration Statement at any time when a prospectus relating
thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to
state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and at the request of any such seller, prepare and furnish to such seller a reasonable
number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchaser of such shares, such prospectus shall not include an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 
 (d) Use its commercially reasonable efforts to register and qualify the securities covered by such Registration Statement under such other securities or blue sky laws of such jurisdictions as shall be reasonably
requested by the Holders, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions; 

(e) Cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed;

 (f) Provide a transfer agent and registrar for all Registrable Securities and a CUSIP number for all such Registrable Securities, in each
case not later than the effective date of such registration; 
 (g) Use its commercially reasonable efforts to furnish, at the request of any
Holder, on the date that such Holder’s Registrable Securities are delivered to the underwriters for sale in connection with a registration pursuant to this Agreement, if such securities are being sold through underwriters, or, if such
securities are not being sold through underwriters, on the date that the Registration Statement with respect to such securities becomes effective, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such
registration, 
  

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 in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the
underwriters, if any, and to the Holders and (ii) if appropriate, a letter, dated such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public
accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders (to the extent the then-applicable standards of professional conduct permit said letter to be addressed to the Holders).

 (h) The Company shall pay all costs, fees and expenses in connection with the Registration Statement filed pursuant to Section 2
hereof including, without limitation, the Company’s legal and accounting fees, all registration, qualification, listing and filing fees, printing expenses, escrow fees, and blue sky fees and expenses; provided, however, that each Holder
shall be solely responsible for the fees of any counsel retained by such Holder in connection with such registration and any transfer taxes or underwriting discounts, commissions or fees applicable to the Registrable Securities sold by such Holder
pursuant thereto. 
 4. Additional Terms. 
 (a) To the extent permitted by law, the Company will indemnify each Holder, each of its officers, directors, partners, legal counsel, and accountants, and each person controlling such Holder within the meaning of
Section 15 of the Securities Act, with respect to which registration, qualification, or compliance has been effected pursuant to this Agreement, and each underwriter, if any, and each person who controls any underwriter within the meaning of
Section 15 of the Securities Act, against all expenses, claims, losses, damages, or liabilities (or actions, proceedings, or settlements in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a
material fact contained in any registration statement, prospectus, offering circular, or other document (including any related registration statement, notification, or the like), or any amendment or supplement thereto, incident to any such
registration, qualification, or compliance, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were
made, not misleading, or any violation by the Company of the Securities Act or any rule or regulation promulgated under the Securities Act applicable to the Company in connection with any such registration, qualification, or compliance, and the
Company will reimburse each such Holder, each of its officers, directors, partners, legal counsel, and accountants, and each person controlling such Holder, each such underwriter and each person who controls any such underwriter, for any legal and
any other expenses reasonably incurred in connection with investigating, preparing, defending, or settling any such claim, loss, damage, liability, or action, as such expenses are incurred, provided that the Company will not be liable in any such
case to the extent that any such claim, loss, damage, liability, or expense arises out of or is based on any untrue statement or omission or alleged untrue statement or omission, (i) made in reliance upon and in conformity with written
information furnished to the Company by such Holder, controlling person, or underwriter and stated to be specifically for use therein or (ii) corrected in an amended or supplemented registration statement, prospectus or offering circular
provided by the Company for use prior to the purchase giving rise to such claim, loss, damage, liability or expense. It is agreed that the indemnity agreement contained in this Section 4 shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability, or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld). 
  

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 (b) To the extent permitted by law, each Holder will, if Registrable Securities held by such Holder are
included in the securities as to which such registration, qualification, or compliance is being effected, indemnify the Company, each of its directors, officers, partners, legal counsel, and accountants, and each underwriter, if any, of the
Company’s securities covered by such a registration statement, each person who controls the Company or such underwriter within the meaning of Section 15 of the Securities Act, and each other such Holder, each of their officers, directors,
and partners, and each person controlling such Holder within the meaning of Section 15 of the Securities Act, against all claims, losses, damages, and liabilities (or actions in respect thereof) arising out of or based on any untrue statement
(or alleged untrue statement) of a material fact contained in any such registration statement, prospectus, offering circular, or other document, or any omission (or alleged omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, and will reimburse the Company and such Holders, directors, officers, partners, legal counsel, and accountants, persons, underwriters, or control persons for any legal or any other expenses
reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action, as such expenses are incurred, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue
statement) or omission (or alleged omission) is made in such registration statement, prospectus, offering circular, or other document in reliance upon and in conformity with written information furnished to the Company by such Holder and stated to
be specifically for use therein, provided, however, that the obligations of such Holder hereunder shall not apply to amounts paid in settlement of any such claims, losses, damages, or liabilities (or actions in respect thereof) if such settlement is
effected without the consent of such Holder (which consent shall not be unreasonably withheld); and provided that that in no event shall any indemnity under this Section 4 exceed the gross proceeds received by such Holder in such offering.

 (c) Each party entitled to indemnification under this Section 4 (the “Indemnified Party”) shall give notice
to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party
to assume the defense of any such claim or any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval
shall not unreasonably be withheld), and the Indemnified Party may participate in such defense at such party’s expense, and provided further that the failure of any Indemnified Party to give notice as provided herein shall not relieve the
Indemnifying Party of its obligations under this Section 4 unless the failure to give such notice is materially prejudicial to an Indemnifying Party’s ability to defend such action. No Indemnifying Party, in the defense of any such claim
or litigation, shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such
Indemnified Party of a release from all liability in respect to such claim or litigation. Each Indemnified Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request in writing and
as shall be reasonably required in connection with the defense of such claim and litigation resulting therefrom. 
  

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 (d) If the indemnification provided for in this Section 4 is held by a court of competent
jurisdiction to be unavailable to an Indemnified Party with respect to any claim, loss, damage, liability, or expense referred to therein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party hereunder, shall contribute to the
amount paid or payable by such Indemnified Party as a result of such claim, loss, damage, liability, or expense in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and the Indemnified party on
the other in connection with the statements or omissions that resulted in such claim, loss, damage, liability, or expense, as well as any other relevant equitable considerations. The relative fault of the Indemnifying Party and of the Indemnified
Party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact related to information supplied by the Indemnifying Party or by the Indemnified
Party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. The Company and the Holders agree that it would not be just and equitable if contribution pursuant to
this Section 4 were based solely upon the number of entities from whom contribution was requested or by any other method of allocation which does not take account of the equitable considerations referred to above. In no event shall any
contribution by a Holder under this Section 4 exceed the gross proceeds received by such Holder in such offering. 
 (e) The amount paid
or payable by an Indemnified Party as a result of the losses, claims, damages, and liabilities referred to above in this Section 4 shall be deemed to include any legal or other expenses reasonably incurred by such Indemnified Party in
connection with investigating or defending any such action or claim, subject to the provisions of Section 4(c). No person guilty of fraudulent misrepresentation (within the meaning of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation. 
 (f) Notwithstanding the foregoing, to the extent that the provisions
on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control.

 (g) The obligations of the Company and Holders under this Section 4 shall survive the completion of any offering of Registrable
Securities in a Registration Statement. Neither the filing of a Registration Statement by the Company pursuant to this Agreement nor the making of any request for prospectuses by any Holder shall impose upon any Holder any obligation to sell such
Holder’s Registrable Securities. 
 (h) Each Holder, upon receipt of notice from the Company that an event has occurred which requires a
post-effective Amendment to the Registration Statement or a supplement to the prospectus included therein, shall promptly discontinue the sale of Registrable Securities until such Holder receives a copy of a supplemented or amended prospectus from
the Company, which the Company shall provide as soon as practicable after such notice. 
 (i) If the Company fails to keep the Registration
Statement referred to above continuously effective during the requisite period, then the Company shall, promptly upon the request of any Holder, use commercially reasonable efforts to update the Registration Statement 
  

 -6- 

 or file a new registration statement covering the Registrable Securities remaining unsold, subject to the terms and
provisions hereof, so that the registration of such unsold Registered Securities is maintained for a number of days beyond the Expiration Date equal to the number of days that such Holder is unable to sell pursuant to Section 4(h) above.

 (j) Each Holder agrees to provide the Company with any information or undertakings reasonably requested by the Company in order for the
Company to include any appropriate information concerning such Holder in the Registration Statement or in order to promote compliance by the Company or such Holder with the Securities Act. 
 (k) Each Holder, by its acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably requested by the Company in
connection with the preparation and filing of a Registration Statement hereunder. 
 (l) Each Holder, on behalf of itself, its affiliates,
its successors and assigns and any other direct or indirect transferee holding any of the Warrants, the Series J Stock or the Registrable Securities, hereby covenants and agrees not to, directly or indirectly, offer to “short sell”,
contract to “short sell” or otherwise “short sell” or encourage others to “short sell” any securities of the Company, including, without limitation, shares of Common Stock that will be received as a result of the
conversion of the Series J Stock or the exercise of the Warrants. For purposes of this Agreement, “short selling” shall include any sale, any trade in any option or other derivative security, any hedging transaction relating to the
securities of the Company or any transaction intended to affect the price of the Company’s common stock. 
 5. Governing Law;
Jurisdiction. This Agreement shall be governed as to validity, interpretation, construction, effect and in all other respects by the laws of the State of New York. To the fullest extent permitted by applicable law, each party hereto hereby
irrevocably submit to the non-exclusive jurisdiction of any New York State court or federal court sitting in the Borough of Manhattan in respect of any suit, action or proceeding arising out of or relating to the provisions of this Agreement and
irrevocably agree that all claims in respect of any such suit, action or proceeding may be heard and determined in any such court. The parties hereto hereby waive, to the fullest extent permitted by applicable law, any objection that they may now or
hereafter have to the laying of venue of any such suit, action or proceeding brought in any such court, and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. The parties hereto
hereby waive, to the fullest extent permitted by applicable law, any right to trial by jury with respect to any action or proceeding arising out of or relating to this Agreement. 
 6. Amendment. No amendment, modification or termination of any provision of this Agreement shall be effective unless signed in writing by
or on behalf of the Company and a majority in interest of the Holders; provided, however, that no amendment, modification or termination of any provision of this Agreement shall be effective with respect to (i) a Holder if such
amendment, modification or termination disproportionately effects such Holder, unless signed in writing by such Holder, or (ii) the terms of the Certificate of Designations. 
  

 -7- 

 7. Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto
with respect to the subject matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof. 
 8. Execution in Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same document. 
 9. Notices. All communications hereunder shall be in
writing and shall be hand delivered, mailed by first-class mail, couriered by next-day air courier or by facsimile at the addresses set forth below. 
  

							
		 	If to the Holders,	 	M.A.G. Capital, LLC
		 		 	555 South Flower Street, Suite 4200
		 		 	Los Angeles, CA 90071
		 		 	Attention: David Firestone
			
		 	With a copy to	 	Latham & Watkins LLP
		 		 	633 West Fifth Street, Suite 4000
		 		 	Los Angeles, CA 90071-2007
		 		 	Telephone No.: (213) 485-1234
		 		 	Facsimile No.: (213) 891-8763
		 		 	Attention: Justin O’Neill
			
		 	If to the Company,	 	
		 		 	Diametrics Medical, Inc.
		 		 	6033 West Century Blvd., Suite 850
		 		 	Los Angeles, CA 90045
		 		 	Attention: Bruce Comer
		 		 	Telephone No.: (310) 670-2721
		 		 	Facsimile No.: (310) 670-4107
			
		 	with a copy to:	 	Sidley Austin LLP
		 		 	555 West Fifth Street, Suite 4000
		 		 	Los Angeles, CA 90013
		 		 	Attention: Stephen D. Blevit, Esq.
		 		 	Telephone No.: (213) 896-6029
		 		 	Facsimile No.: (213) 896-6600

  

 -8- 

 All such notices and communications shall be deemed to have been duly given: (i) when delivered by hand, if
personally delivered; (ii) five business days after being deposited in the mail, postage prepaid, if mailed certified mail, return receipt requested; (iii) one business day after being timely delivered to a next-day air courier
guaranteeing overnight delivery; (iv) the date of transmission if sent via facsimile to the facsimile number as set forth in this Section or the signature page hereof prior to 6:00 p.m. (New York Time) on a business day, or (v) the
business day following the date of transmission if sent via facsimile at a facsimile number set forth in this Section or on the signature page hereof after 6:00 p.m. (New York Time) or on a date that is not a business day. Change of a party’s
address or facsimile number may be designated hereunder by giving notice to all of the other parties hereto in accordance with this Section. 
 10. Binding Effect; Benefits. Any Holder may assign its rights hereunder and the term “Holder” as used herein shall be deemed to include any such subsequent assignee. This Agreement shall inure to the benefit of, and
be binding upon, the parties hereto and their respective heirs, legal representatives, successors and permitted assigns. Nothing herein contained, express or implied, is intended to confer upon any person other than the parties hereto and their
respective heirs, legal representatives and successors, any rights or remedies under or by reason of this Agreement. 
 11.
Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Agreement. 
 12. Severability. Any provision of this Agreement which is held by a court of competent jurisdiction to be prohibited or unenforceable in
any jurisdiction(s) shall be, as to such jurisdiction(s), ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision
in any other jurisdiction. 
 13. Attorneys’ Fees and Disbursements. If any action at law or in equity is necessary to
enforce or interpret the terms of this Agreement, the prevailing party or parties shall be entitled to receive from the other party or parties reasonable attorneys’ fees and disbursements in addition to any other relief to which the prevailing
party or parties may be entitled. 
  

 -9- 

 IN WITNESS WHEREOF, this Agreement has been executed and delivered by the parties hereto as of the
date first above written. 
  

			
	DIAMETRICS MEDICAL, INC.
		
	By:	 	 /s/ W. Bruce Comer III

	Name:	 	W. Bruce Comer III
	Its:	 	Chief Executive Officer
	
	[Counterpart Holder Signature Page Follows]

  

 -10-

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