0001213900-15-002271 Sample Contracts

CONVERTIBLE PROMISSORY NOTE
Convertible Promissory Note • March 31st, 2015 • Pathfinder Cell Therapy, Inc. • Orthopedic, prosthetic & surgical appliances & supplies

For value received, the undersigned, Pathfinder Cell Therapy, Inc., a Delaware corporation (the “ Borrower ”), hereby unconditionally promises to pay to the order of _____________ (the “ Payee ”), the principal sum of $_______ and 00/100 Dollars ($_________ ), together with interest to maturity (whether by lapse of time, acceleration or otherwise) on the balance of principal remaining from time to time outstanding at a rate per annum equal to 6%. Interest shall be calculated on the basis of a 360-day year and actual days.

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Dear Sirs Research Agreement — Extension No. 3
Research Agreement • March 31st, 2015 • Pathfinder Cell Therapy, Inc. • Orthopedic, prosthetic & surgical appliances & supplies

We refer to our recent discussions regarding the research agreement between The University Court of the University of Glasgow (the University) and Pathfinder, LLC (now a wholly owned subsidiary of Pathfinder Cell Therapy, Inc., previously known as SyntheMed, Inc.) (the Company) (contract no. 49974/1) dated 23 March 2009, as extended by way of an extension letters from the University to the Company dated 29 March 2011 and 19 April 2012 (the Research Agreement). Terms defined in the Research Agreement will have the same meaning where used herein.

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