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Exhibit 10(e)(10)

EMPLOYMENT AGREEMENT

EMPLOYMENT AGREEMENT
 entered into on March 7, 2012, by and between COVER-ALL TECHNOLOGIES INC., a Delaware corporation (the “Company
”), having its principal office at 55 Lane Road, Fairfield, New Jersey 07004, and MANISH D. SHAH, currently residing at 7
Todd Street, Hillsborough, New Jersey 08844 (the “Executive”).

W I T N E S S E T H :

WHEREAS, the Company and
the Executive wish to set forth in this Agreement the terms and conditions under which the Executive will continue to be employed by the
Company, as provided herein.

NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth herein, the parties agree as follows:

1.  

Employment.  The Company, effective
as of March 1, 2012, hereby agrees to continue to employ the Executive as President of the Company, and the Executive hereby accepts such
employment, all upon and subject to the terms and conditions hereinafter set forth.

2.  

Term.

(a)

The term of employment under this Agreement
shall commence as of March 1, 2012 (the “Effective Date”) and shall continue in full force and effect until
February 28, 2015 (the “Employment Term”), subject to earlier termination as provided in Section 2(b) hereof.

(b)

Notwithstanding the foregoing, each of the
Executive and the Company may, at their respective option, terminate the Executive’s employment hereunder at any time, with or
without reason or cause, upon written notice to the other party. 

3.  

Duties. 

(a)  

The Executive will render his services to the
Company as President, reporting directly to the Chief Executive Officer, and shall perform such duties and services of such office or
position.  In addition, the Executive will hold such other offices and directorships in the Company or any parent or subsidiary of
the Company to which, from time to time, he may be reasonably appointed or elected.

(b)  

Except as otherwise provided herein and except
for illness, permitted vacation periods and permitted leaves of absence consistent with the past practice of the Company or as otherwise
approved by the Board, the Executive agrees that during the term of his employment hereunder, he shall devote all of his full working
time and attention, and give his best effort, skill and abilities, exclusively to the business and interests of the Company.

4.  

Compensation; Benefits.  

(a)  

Salary.  In consideration of the
services to be rendered by the Executive hereunder, including, without limitation, any services rendered by him as an officer or director
of the Company or any parent, subsidiary or affiliate of the Company, the Company agrees to pay to the Executive, and the Executive
agrees to accept as compensation, an annual salary (the “Base Salary”) of $300,000, payable in equal bi-weekly
installments in accordance with the Company’s normal payroll policies.  The Executive’s Base Salary shall be subject to
all applicable withholding and other taxes.

(b)  

Bonus.  In addition to the payment
of the Base Salary, as provided for hereunder, the Company shall pay the Executive an annual bonus based upon the financial performance
of the Company (the “Performance Bonus”) in an amount equal to the product of (x) the Performance Factor (as defined
herein) multiplied by (y) the Executive’s Base Salary as in effect at that time multiplied by (z) 0.75; provided, however
, that the Performance Bonus shall be paid only to the extent sufficient amounts exist in the Performance Pool (as defined in the
Cover-All Employee Incentive Plan) in such year. 

For the purposes
hereof: 

“Performance
Factor” shall mean the sum of (a) the Growth Factor (as defined herein) and (b) the Profit Factor (as defined herein).

“Growth Factor
” shall mean the product of (a) the fraction, the numerator of which shall be the actual revenues of the Company less
 the Revenues Hurdle (as defined herein) for such year, and the denominator of which shall be the Targeted Revenues (as defined
herein) less the Revenues Hurdle for such year, and (b) the Growth Weight (as defined herein).

“Profit Factor
” shall mean the product of (a) the fraction, the numerator of which shall be the actual net income (before taxes and
employee bonuses) of the Company less the Income Hurdle (as defined herein) for such year, and the denominator of which shall be
the Targeted Net Income (as defined herein) less the Income Hurdle for such year, and (b) the Profits Weight (as defined
herein).

“Targeted
Revenues” shall have the value set forth on Schedule A hereto.

“Revenues Hurdle
” shall have the value set forth on Schedule A hereto.

“Growth Weight
” shall have the value set forth on Schedule A hereto.

“Targeted Net
Income” shall have the value set forth on Schedule A hereto.

“Income Hurdle
” shall have the value set forth on Schedule A hereto.

“Profits Weight
” shall have the value set forth on Schedule A hereto.

For the purposes hereof, each of revenues,
net income and Performance Bonus shall be determined by and set forth in a certificate of the Company’s Chief Financial Officer, and
shall be based upon the books and records of the Company and calculated in accordance with generally accepted accounting principles
consistently applied.  Such certificate shall be final and 

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binding on the parties hereto.  The Executive’s Performance
Bonus, if any, for any fiscal year during the Term shall be paid no later than the earlier of (x) the fifth business day after the date
of the filing by the Company with the Securities and Exchange Commission of its audited financial statements in its Form 10-K Annual
Report for such fiscal year and (y) December 31st of the calendar year following the fiscal year for which such bonus is
computed.  The specific definitional values reflected on Schedule A hereto to be in effect for each year of the Employment
Term shall be agreed to in writing by the Company and the Executive no later than January 31st of such year.

(c)  

Equity Interests.  

(i)  

Options.  Upon the date hereof, the
Company shall grant the Executive five-year incentive stock options to purchase 400,000 shares (the “Options”) of the
Company’s common stock, $.01 par value per share (the “Common Stock”), granted at a price per share equal to the
fair market value of such share as of the date of grant, which will vest (x) as to 136,000 shares on December 31, 2012, or on such
earlier date during that calendar year that the Executive’s employment may be terminated pursuant to Section 2(b) hereof, (y) as to
132,000 shares on December 31, 2013, or on such earlier date during that calendar year that the Executive’s employment may be
terminated pursuant to Section 2(b) hereof, and (z) as to 132,000 shares on December 31, 2014, or on such earlier date during that
calendar year that the Executive’s employment may be terminated pursuant to Section 2(b) hereof, all in accordance with and subject
to the terms and conditions set forth in the Company’s Amended and Restated 2005 Stock Incentive Plan and a stock option agreement
to be entered into by and between the Company and the Executive. 

(ii)  

Restricted Shares.  Upon the date
hereof, the Company shall grant the Executive 125,000 shares of the Company’s Common Stock (the “Restricted Shares
”), which will vest (x) as to 42,500 shares on December 31, 2012, or on such earlier date during that calendar year that the
Executive’s employment may be terminated pursuant to Section 2(b) hereof, (y) as to 41,250 shares on December 31, 2013, or on such
earlier date during that calendar year that the Executive’s employment may be terminated pursuant to Section 2(b) hereof, and (z) as
to 41,250 shares on December 31, 2014, or on such earlier date during that calendar year that the Executive’ s employment may be
terminated pursuant to Section 2(b) hereof, in accordance with and subject to the terms and conditions set forth in the Company’s
Amended and Restated 2005 Stock Incentive Plan and a restricted stock grant agreement to be entered into by and between the Company and
the Executive.  In connection with the grant of the Restricted Shares,  the Executive shall make an election to include in
gross income on the date the restricted shares are transferred to the Executive (the “Transfer Date”) the value of the
restricted shares on such Transfer Date pursuant to Section 83(b) (the “Section 83(b) Election”) of the Internal Revenue
Code of 1986, as amended (the “Code”), which election shall be made within 30 days of the Transfer Date.  Upon receipt
of evidence from the Executive that the Section 83(b) Election has been timely made, the Company shall pay on behalf of the Executive to the
taxing authorities as withheld taxes an amount (the “Gross-Up Payment”) equal to his estimated federal, state and local
income and payroll tax obligations (based on information provided by the Executive in good faith) with respect to (i) the fair market
value of the restricted shares, as of the Transfer Date, and (ii) the income required to be recognized by the Executive as a result of
the payment by the Company of such obligations, in compliance with applicable law. 

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If the Executive fails to make the Section 83(b)
Election in a timely manner, the Company shall have no obligation to make any Gross-Up Payment.

(d)  

Benefits.  During the Employment
Term, the Executive shall be entitled to the following benefits:

(i)  

twenty (20) days of annual paid vacation time,
in accordance with the Company’s policies; and

(ii)  

participation, subject to qualification and
participation requirements, in medical, life or other insurance or hospitalization plans and any pension, profit sharing or other
employee benefit plans, presently in effect or hereafter instituted by the Company and applicable to its officers and executive
employees.

(e)  

Company Car.  During the Employment
Term, the Executive shall be entitled to the use of a new Company automobile of the Executive’s choice for business purposes, the
cost of such automobile shall not exceed $75,000.  In addition, the Company shall reimburse the Executive, upon the presentation of
appropriate receipts, for all maintenance and repair costs incurred by the Executive in connection with the use of such automobile.
 Upon any termination of the employment of the Executive for any reason, including upon the expiration of this Agreement, the
Executive shall have the right, exercisable within 10 business days following the end of the Severance Period (as defined below), to
purchase from the Company the automobile at a price equal to its then-current book value (as on the Company’s books).

(f)  

Reimbursement of Expenses.  The
Executive shall be reimbursed for reasonable and necessary expenses incurred by the Executive in performing his employment hereunder,
provided such expenses are adequately documented in accordance with the Companies policies.

5.  

Payments upon Termination and Severance.
 If the employment of the Executive is terminated for any reason, including upon the expiration of this Agreement, the Company shall
have no further obligations to the Executive hereunder after the date of termination other than the payment or provision, as applicable,
to the Executive of (w) accrued and unpaid Base Salary and accrued and unused vacation days, through the date of such termination, (x)
the pro rata portion of the bonus payment set forth in Section 4(b) hereof, based upon the number of days the Executive was employed
during the Company’s fiscal year for which such bonus is computed, to the extent the numerical requirements are actually met for the
fiscal year in question, which shall be payable at the same time such bonus would have been paid under Section 4(b) hereof, (y) any
unreimbursed business expenses of the Executive that are otherwise reimbursable hereunder, and (z) as severance, for a period of six
months following such termination (the “Severance Period ”), (i) the Base Salary payable in accordance with the
Company’s payroll policies, and (ii) the benefits set forth in Sections 4(d)(ii) and 4(e) hereof.  This provision shall not
preclude the Executive from claiming or obtaining such disability benefits to which he may be entitled pursuant to any plan maintained
by the Company for disability incurred during the period of the Executive’s employment by the Company.

6.  

Ownership of Intellectual Property.

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(a)  

The Executive recognizes and agrees that all
copyrights, patents, trademarks or other intellectual property rights to created works arising in any way from, or related to, the
Executive’s employment by the Company are the sole and exclusive property of the Company, and Executive agrees to not assert any
rights to those works against the Company or any third-parties and agrees to assist the Company in any way requested to procure or
protect the Company’s rights to those works.

(b)  

For purposes of this Section 6 and the following
Section 7, the term “Company” shall mean and include any and all subsidiaries, parents and affiliated corporations or entities
of the Company in existence from time to time during the Employment Term.

7.  

Non-Disclosure of Confidential Information and
Non-Competition.

(a)  

The Executive represents that he has been
informed that it is the policy of the Company to maintain as secret and confidential all information relating to (i) the computer
software, products, processes and/or other information proprietary to the Company and (ii) the customers and employees of the Company
(“Confidential Information”), and the Executive further acknowledges that such Confidential Information is of great
value to the Company and is the property of the Company.  The parties recognize that the services to be performed by the Executive
are special and unique, and that by reason of this employment by the Company, he will acquire Confidential Information as aforesaid.
 The parties confirm that to protect the Company’s goodwill, it is reasonably necessary that the Executive agree, and
accordingly the Executive does hereby agree, that he will not directly or indirectly (except
where authorized by the Board for the benefit of the Company):

A.  

at any time during the
Executive’s employment hereunder or after the Executive ceases to be employed by the Company, divulge to any persons, firms or
corporations other than the Company (hereinafter referred to collectively as “Third Parties”), or use, or cause to
authorize any Third Parties to use, any such Confidential Information, except to the extent that any such Confidential Information (i) is
required to be disclosed by the Executive under any applicable laws, regulations or directives of any government agency, tribunal or
authority having jurisdiction in the matter or under subpoena or other process of law, (ii) becomes generally available to the public,
other than as a result of a breach by the Executive of this Section 7, or (iii) becomes available to the Executive on a non-confidential
basis from a source other than the Company, or any of its affiliates or advisors; provided, that such source is not known by the Executive
to be bound by a confidentiality agreement with, or other obligation of secrecy to, the Company or another party; or 

B.  

at any time during the
Executive’s employment hereunder and for a period of six (6) months after the Executive ceases to be employed by the Company (the
“Restricted Period”), solicit or cause or authorize, directly or indirectly, to be solicited for employment, for or on
behalf of himself or Third Parties, any persons who were at any time within six (6) months prior to the cessation of the Executive’s
employment hereunder, employees of the Company; provided, however, that this paragraph B shall not apply to or include
persons who respond to any general public advertisement or job posting; or

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C.  

at any time during the
Executive’s employment hereunder and during the Restricted Period, employ or cause or authorize, directly or indirectly, to be
employed, for or on behalf of himself or Third Parties, any such employees of the Company; provided, however, that this
paragraph C shall not apply to or include persons who respond to any general public advertisement or job posting; or

D.  

at any time during the
Executive’s employment hereunder, accept employment with or participate, directly or indirectly, as owner, stockholder, director,
officer, manager, consultant or agent or otherwise use the Executive’s special, unique or extraordinary skills or knowledge with
respect to the business of the Company or of any affiliate of the Company in or with any business, firm, corporation, partnership,
association, venture or other entity or person which is engaged in the business of designing, developing or providing software services
to the property and casualty insurance industry, except that this paragraph D shall not be construed to prohibit the Executive from
owning up to 5% of the securities of a corporation which are publicly traded on a national securities exchange or in the over-the-counter
market or from being employed by an insurance or other company which may design and market software provided the designing and marketing
of software is not a predominant and principal part of the business of such other company or concern; or

E.  

at any time during the
Executive’s employment hereunder, solicit or cause or authorize, directly or indirectly, to be solicited, for or on behalf of
himself or Third Parties, any business with respect to designing, developing or providing software services to the property and casualty
insurance industry from Third Parties who were, at any time within six (6) months prior to the cessation of the Executive’s
employment hereunder, customers of the Company for such business; or 

F.  

at any time during the
Executive’s employment hereunder, accept or cause or authorize, directly or indirectly, to be accepted, for or on behalf of himself
or Third Parties, any such business from any customers of the Company.

(b)  

The Executive agrees that the Executive will
not, at any time, remove from the Company’s premises any confidential Company drawings, notebooks, data and other documents and
materials relating to the business and procedures heretofore or hereafter acquired, developed and/or used by the Company without prior
written consent of the Board, except as reasonably necessary to the discharge of the Executive’s duties hereunder.

(c)  

The Executive agrees that, upon the expiration
of this employment by the Company for any reason, he shall forthwith deliver up to the Company any and all documents, books, manuals,
lists, records, publications or other materials which contains Confidential Information, whether in written, electronic or other form,
passwords, key, credit cards, equipment or other articles that came into the Executive’s possession or under the Executive’s
control in connection with the Executive’s employment by the Company and to maintain no copies or duplicates without the prior
written approval of the Board.

(d)  

The Executive agrees that any breach or
threatened breach by him of any provision of this Section 7 shall entitle the Company, in addition to any other legal remedies 

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available
to it, to apply to any court of competent jurisdiction to enjoin such breach or threatened breach.  The parties understand and
intend that each restriction agreed to by the Executive hereinabove shall be construed as separable and divisible from every other
restriction, and that the unenforceability, in whole or in part, of any other restriction, will not effect the enforceability of the
remaining restrictions and that one or more or all of such restrictions may be enforced in whole or in part as the circumstances warrant.
 No waiver of any one breach of the restrictions contained in this Section 7 shall be deemed a waiver of any future breach.

(e)  

The Executive hereby acknowledges that he is
fully cognizant of the restrictions put upon him by this Section 7, and that the provisions of this Section 7 shall survive the
termination of this Agreement and the Executive’s employment with the Company.

8.  

Mutual Non-Disparagement.  The
Executive and the Company agree not to make any statement, written or verbal, to any party reasonably likely to be harmful to the other
party or to be injurious to the goodwill, reputation or business standing of the other party at any time in the future; provided,
however, that this non-disparagement clause shall not preclude any party or the Executive’s or its agents or representatives
from any good faith response to any inquiries under oath or in response to governmental inquiry.

9.  

Mutual Release of Claims.  The
Executive and the Company agree to deliver the Mutual Release in the form attached hereto as Exhibit A on or prior to the date the
Executive’s employment is terminated pursuant to Section 5 hereof.

10.  

Life Insurance.  The Executive agrees
that the Company may apply for and purchase one or more life insurance policies on the life of the Executive in such amount or amounts as
the Company deems appropriate.  The Company shall be the sole beneficiary of such insurance policy or policies and the Executive
hereby acknowledges that the Company has an insurable interest in the Executive’s life.  The Executive agrees to cooperate with
the Company in obtaining any insurance on the life or on the disability of the Executive which the Company may desire obtain for its own
benefit and shall undergo such physical and other examinations, and shall execute any consents or applications, which the Company may
reasonably request in connection with the issuance of one or more of such insurance policies.  The Company hereby agrees to cancel
such life insurance policy with respect to the Executive immediately upon the termination of the Executive’s employment hereunder. 

11.  

Notices.  All notices, requests,
demands or other communications hereunder shall be deemed to have been given if delivered in writing personally or by certified mail to
each party at the address set forth below, or at such other address as each party may designate in writing to the other:

If to the Company:

Cover-All
Technologies Inc.

55 Lane Road

Fairfield, New Jersey 07004

Attention:  Chairman

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With a copy to:

Sills Cummis
& Gross P.C.

30 Rockefeller Plaza

New York, New York 10112

Attention:  David E. Weiss, Esq.

If to the Executive:

Manish D. Shah

7 Todd Street

Hillsborough, New Jersey 08844

12.  

Entire Agreement.  This Agreement
contains the entire understanding of the parties with respect to the subject matter hereof, supersedes any prior agreement between the
parties, and may not be changed or terminated orally.  No change, termination or attempted waiver of any of the provisions hereof
shall be binding unless in writing and signed by the party against whom the same is sought to be enforced.  No provision hereof
shall be construed against a party because that provision or any other provision was drafted by or at the direction of such party.

13.  

Section 409A.  This Agreement is
intended to comply with, or otherwise be exempt from, Section 409A of the Code, and any regulations and Treasury guidance promulgated
thereunder.

(a)  

The Company shall undertake to administer,
interpret, and construe this Agreement in a manner that does not result in the imposition on the Executive of any additional tax,
penalty, or interest under Section 409A of the Code.  

(b)  

If the Company determines in good faith that any
provision of this Agreement would cause the Executive to incur an additional tax, penalty, or interest under Section 409A of the Code,
the Compensation Committee and the Executive shall use reasonable efforts to reform such provision, if possible, in a mutually agreeable
fashion to maintain to the maximum extent practicable the original intent of the applicable provision without violating the provisions of
Section 409A of the Code.

(c)  

The preceding provisions, however, shall not be
construed as a guarantee by the Company of any particular tax effect to Executive under this Agreement.  The Company shall not be
liable to Executive for any payment made under this Agreement, at the direction or with the consent of Executive, that is determined to
result in an additional tax, penalty, or interest under Section 409A of the Code, nor for reporting in good faith any payment made under
this Agreement as an amount includible in gross income under Section 409A of the Code.

(d)  

With respect to any reimbursement of expenses
of, or any provision of in-kind benefits to, the Executive, as specified under this Agreement, such reimbursement of expenses or
provision of in-kind benefits shall be subject to the following conditions: (1) the expenses eligible for reimbursement or the amount of
in-kind benefits provided in one taxable 

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year shall not affect the expenses eligible for
reimbursement or the amount of in-kind benefits provided in any other taxable year, except for any medical reimbursement arrangement
providing for the reimbursement of expenses referred to in Section 105(b) of the Code; (2) the reimbursement of an eligible expense shall
be made no later than the end of the year after the year in which such expense was incurred; and (3) the right to reimbursement or in-kind
benefits shall not be subject to liquidation or exchange for another benefit.

(e)  

“Termination of employment,”
“resignation” or words of similar import, as used in this Agreement, means for purposes of Section 409A of the Code the date as
of which the Company and the Executive reasonably anticipate that no further services will be performed by the Executive and shall be
construed as the date that the Executive first incurs a “separation from service” for purposes of Section 409A of the Code.

(f)  

If a payment obligation under this Agreement
arises on account of the Executive’s separation from service while the Executive is a “specified employee” (as defined
under Section 409A of the Code and determined in good faith by the Compensation Committee), any payment of “deferred
compensation” (as defined under Treasury Regulation Section 1.409A-1(b)(1), after giving effect to the exemptions in Treasury
Regulation Sections 1.409A-1(b)(3) through (b)(12)) shall accrue without interest and shall be made within 15 days after the end of the
six-month period beginning on the date of such termination of employment or, if earlier, within 15 days after the appointment of the
personal representative or executor of the Executive’s estate following the Executive’s death.

14.  

Successors and Assigns.  This
Agreement shall be binding upon and shall inure to the benefit of the respective heirs, legal representatives, successors and assigns of
the parties hereto.

15.  

Severability.  In the event that any
one or more of the provisions of this Agreement shall be declared to be illegal or unenforceable under any law, rule or regulation of any
government having jurisdiction over the parties hereto, such illegality or unenforceability shall not affect the validity and
enforceability of the other provisions of this Agreement.

16.  

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 instrument.

17.  

Governing Law.  All matters
concerning the validity and interpretation of the performance under this Agreement shall be governed by the laws of the State of New
Jersey, whose courts or the federal courts located in the District of New Jersey shall have exclusive jurisdiction over the parties to
which they consent.

[signature page follows]

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IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first above written. 

 

	 	COVER-ALL TECHNOLOGIES INC.
	 	 
	 	By: 	/s/ John Roblin
	 	 	Name:  John Roblin
Title:  Chairman and CEO

 

	 	  /s/ Manish D. Shah
	 	Manish D. Shah

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Exhibit A

MUTUAL RELEASE

WHEREAS,
 Manish D. Shah (“Shah”) was
a party to an Employment Agreement dated March ___, 2012 and effective as of March 1, 2012 (the “
Employment Agreement”) by and
between Shah and Cover-All Technologies Inc., a Delaware corporation (the “
Company” and, together with Shah, the “Parties
”); and

WHEREAS,
 the Parties desire to resolve any potential disputes which exist or may exist arising out of
Shah’s employment with the Company and/or termination thereof.

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Company and Shah agree as follows:

1.

The Company does hereby irrevocably release and
forever discharge Shah and his heirs, executors, personal representatives, agents, successors
and assigns, to the full extent permitted by law, of and from any and all actions, causes of action, suits, controversies, liabilities,
obligations, proceedings, claims, damages, costs and demands of every kind and nature, both in
law and in equity, whether known or unknown (collectively, “
Claims”), which the Company now has, has had or may in the future have, for and on account of any
matter or thing, from the beginning of time to and including the date of this Mutual Release.

2.

Shah does hereby irrevocably release and forever
discharge the Company and its successors and assigns, to the full extent permitted by law, of and from any and all 
Claims which Shah now has, has had or may in the future have, for and on account of any matter or thing, from
the beginning of time to and including the date of this Mutual Release.

3.

This release is intended by the Parties to be all
encompassing and to act as a full and total release of any Claims, whether specifically numerated herein or not, that the Parties may
have or have had against each other, including, but not limited to, any claims arising from any federal or state law or regulation
dealing with either employment, employment benefits or employment discrimination such as those laws or regulations concerning
discrimination on the basis of race, color, creed, religion, age, sex, sexual harassment, sexual orientation, national origin, ancestry,
handicap or disability, veteran status or any military service or application for military service, including without limitation, the Age
Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act (“
ADEA”), Title VII of the Civil Rights Act of 1964, as
amended, the Americans with Disabilities Act, the federal Family and Medical Leave Act, the Employee Retirement Income Security Act and
the New Jersey Family Medical Leave Act; any contract, whether oral or written, express or implied; any tort; any claim for equity or
other benefits; or any other statutory and/or common law claim.

4.

Each Party hereby declares that it or he has
carefully read, reviewed and understood the terms of this Mutual Release and that it or he voluntarily accepts the terms hereof with the
purpose of making a full and final compromise, adjustment and release of any and all Claims
as provided herein.

5.

Shah represents and acknowledges as follows:

(a)

That he has been and is hereby advised in
writing to consult with an attorney prior to signing this Release;

(b)

That he does not waive rights or claims that may
arise after the date this Release is executed;  

(c)

That the Company has provided him with a period
of twenty one (21) days within which to consider this Release under the ADEA, and that Shah has signed on the date indicated below after
concluding that this Release is satisfactory to him; and

(d)

That upon execution of this Release, the Company
is providing him with seven (7) additional days from such date of execution to revoke his consent to the waiver of his rights under the
ADEA, and if no such revocation occurs, Shah’s waiver of rights under the ADEA shall become effective seven days form the date Shah
executes this Release.

6.

This Mutual Release shall be governed by the laws
of the State of New Jersey applicable to instruments executed and to be performed wholly within that state.

7.

This Mutual Release may be executed in one or
more counterparts, and in both original form or one or more photocopies, each of which shall be deemed to be an original but all of which
together shall be deemed to constitute one and the same instrument.  

IN WITNESS WHEREOF, each of the parties hereto
has executed this Mutual Release this __ day of __________, 201_.

	 	COVER-ALL TECHNOLOGIES INC.
	 	 
	 	By: 	/s/       
	 	 	Name:     
Title:     

 

	 	 	      
	 	MANISH D. SHAH

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Exhibit 10v

 

 

INDEMNIFICATION AGREEMENT

THIS INDEMNIFICATION AGREEMENT (the “Agreement”), dated as of __________, by and between Atrion Corporation, a Delaware corporation (the “Company”), and  ___________  (the “Indemnitee”).

RECITALS

WHEREAS, the Indemnitee is a director or executive officer of the Company;

WHEREAS, the Company is aware that competent and experienced persons are increasingly reluctant to serve as directors or executive officers of publicly-held corporations unless they are protected by comprehensive liability insurance and indemnification, due to the increased exposure to litigation costs resulting from such service and due to the fact that this exposure frequently bears no reasonable relationship to the compensation for such service;

WHEREAS, the General Corporation Law of Delaware (the “Law”) empowers the Company to indemnify by agreement its directors and executive officers;

WHEREAS, the Company desires that the Indemnitee continue to serve as a director or executive officer of the Company; and

WHEREAS, the Indemnitee is willing to continue to serve the Company as a director on the condition that the Company use reasonable good faith efforts to maintain liability insurance coverage and that the Indemnitee be indemnified and afforded rights to the advancement of expenses as provided in this Agreement.

NOW, THEREFORE, in order to induce the Indemnitee to continue to serve as a director or executive officer of the Company and in consideration for his or her continued service, and of the covenants contained in this Agreement, the parties agree as follows:

1.           Definitions. The following terms, as used herein, shall have the following respective meanings:

"Claim or Claims" includes without limitation any threatened, pending, or completed action, suit, or proceeding whether civil, derivative, criminal, administrative, investigative, or otherwise, and includes any Claims by or in the right of the Company.

"D&O Insurance" means any directors and officers liability insurance issued to the Company.

"Expenses" means any reasonable expenses incurred by the Indemnitee as a result of a Claim or Claims made against him or her for any act or omission (including, without limitation, any breach of duty, neglect, error, misstatement, misleading statement or otherwise) by the Indemnitee and any Claim against the Indemnitee by reason of the fact that the Indemnitee is or was a director or executive officer of the Company or any  subsidiary of the Company (“Subsidiary”), including, without limitation, counsel fees and costs of investigative, judicial, or administrative proceedings and any appeals.

"Loss" means any amount which the Indemnitee is legally obligated to pay as a result of any Claim or Claims made against him or her for any act or omission (including, without limitation, any breach of duty, neglect, error, misstatement, misleading statement or otherwise) by the Indemnitee and any Claim against the Indemnitee by reason of the fact that the Indemnitee is or was a director or executive officer of the Company or any subsidiary of the Company, including, without limitation, fines, damages, judgments, and sums paid in settlement of any Claim or Claims.

 

  

  

  

 

2.           Indemnification.  The Company shall, to the fullest extent permitted by Law and subject to the terms of this Agreement, indemnify and defend the Indemnitee and hold the Indemnitee harmless from and against any and all Losses and Expenses.

3.           Advances of Expense.  In the event the Indemnitee is made party to, or threatened to be made party to, any Claim, the Company shall pay the Expenses incurred by the Indemnitee in connection with such Claim in advance of the final disposition of such Claim to the extent payments for such Expenses are not promptly received by the Indemnitee from D&O Insurance or other source of indemnity.  Such payments shall be made within thirty (30) days of the Indemnitee’s written requests therefor.

4.           Counsel and Defense. The Indemnitee shall promptly notify the Company of the commencement or threat of commencement of any Claim, and the Company shall be entitled to assume the defense thereof with counsel reasonably satisfactory to the Indemnitee unless the Indemnitee reasonably objects to such assumption of the defense by the Company on the grounds that there may be a conflict of interest between the Company and the Indemnitee in the conduct of such defense.  The Company shall not be liable to the Indemnitee for any attorneys’ fees incurred by the Indemnitee in connection with the defense of a Claim after the Indemnitee’s receipt of notice of the Company’s election to assume the defense thereof unless the Indemnitee reasonably objects to such assumption of the defense by the Company on the grounds that there may be a conflict of interest between the Company and the Indemnitee in the conduct of such defense or the Company fails in a timely manner to employ counsel to defend such Claim.  If the Indemnitee engages counsel in connection with the defense of a Claim due to a conflict of interest with the Company or due to the Company’s failure to timely defend such Claim, as authorized pursuant to this Section 4, the reasonable fees and expenses of such counsel shall be deemed Expenses hereunder, subject to indemnification and advance by the Company in accordance herewith, provided, however, that such counsel shall be reasonably acceptable to the Company and, to the extent reasonably practicable, such counsel shall also represent the other directors and executive officers of the Company in such Claim who are parties thereto and similarly situated to the Indemnitee.

5.           Settlement.  The Company shall not be liable under this Agreement for amounts paid in any settlement of any Claim without its prior written consent (which consent shall not be unreasonably withheld, delayed or conditioned).  If the Company shall have assumed the defense of a Claim in accordance with Section 4 hereof, the Company shall be entitled to settle (and the Indemnitee shall reasonably cooperate with the Company with respect to such settlement) such Claim unless the Indemnitee reasonably objects to such settlement.  For these purposes, without limiting the possible objections that may be asserted by the Indemnitee, an objection to any settlement that includes any express or implied admission of culpability by the Indemnitee or that fails to include the complete and unqualified general release of the Indemnitee for liability for any Claim made, or which could be made, by any adverse party to such Claim shall be deemed reasonable.  The Company shall give the Indemnitee not less than twenty (20) days prior written notice of any proposed settlement, together with true and correct copies of any proposed agreements relating thereto.

6.           Indemnification Procedure.  All Losses and Expenses incurred by the Indemnitee in connection with a Claim which are subject to indemnification by the Company pursuant to the provisions of this Agreement shall be appropriately substantiated by the Indemnitee in accordance with the reasonable policies of the Company in effect from time to time.  All payments on account of the Company’s indemnification obligations under this Agreement, other than advances pursuant to Section 3, shall be made within thirty (30) days of the Indemnitee’s written request therefor unless, prior to the expiration of such thirty (30) day period, a determination that the Indemnitee is not permitted to be indemnified under applicable law is made by (i) a majority vote of the disinterested directors of the Company, even though less than a quorum; (ii) a majority vote of the disinterested stockholders of the Company; (iii) independent legal counsel, selected by majority vote of the disinterested directors of the Company and reasonably acceptable to the Indemnitee, in a written opinion; or (iv) a final order by a court of competent jurisdiction from which there is no further right of appeal.  Notwithstanding the foregoing provisions of this Section 6, a determination pursuant to clause (i), (ii) or (iii) above that the Indemnitee is not entitled to indemnification under applicable law shall not be binding on the Indemnitee and shall not create any presumption that the Indemnitee has not met the applicable standard of conduct required by applicable law if, within thirty (30) days of the Indemnitee’s receipt of written notice of such determination, the Indemnitee commences legal proceedings in a court of competent jurisdiction seeking a determination that the Indemnitee would be entitled to indemnification by the Company under applicable law.  In such event, the Company shall have the burden of proving that indemnification of the Indemnitee is not required under this Agreement, and the final disposition of such proceeding (whether by settlement or judicial determination as to which all rights of appeal therefrom have been taken or lapsed) shall be binding on the parties.  During the pendency of any such proceeding (and any appeal therefrom) and until its final disposition, the Company shall pay the Indemnitee all of the expenses of such proceeding. In the event that any action is instituted in which the Indemnitee seeks indemnification under this Agreement, or to enforce or interpret any of the terms of this Agreement, the Indemnitee shall be entitled to be paid all costs and expenses, including reasonable attorneys' fees and costs, incurred by the Indemnitee with respect to such action, unless the court determines that such action was not brought in good faith or was frivolous.  The Indemnitee hereby undertakes to repay the Company for all advances in connection with such proceeding if it shall ultimately be determined in such proceeding and all appeals therefrom that the Indemnitee is not entitled to indemnification hereunder.

  

  

  

 

7.           Indemnification of Successful Party.  Notwithstanding the other provisions of this Agreement, to the extent that the Indemnitee has been successful on the merits or otherwise (including without limitation, the dismissal of any action without prejudice) in defense of any Claim, he or she shall be indemnified by the Company against all Losses and Expenses actually incurred by him or her or on his or her behalf in connection therewith.

8.           Partial Indemnification.  If the Indemnitee is entitled to indemnification hereunder by the Company for a portion of the Losses and Expenses incurred by him or her in connection with a Claim, but not for the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion of such Losses and Expenses for which the Indemnitee is entitled to indemnification hereunder.

9.           Contribution.  If, and to the extent that, the Indemnitee is not entitled to indemnification for Losses and Expenses under this Agreement, then in respect of any Claim in which the Company or any other person is (or would be, if joined in such Claim) jointly liable with the Indemnitee, the Company shall contribute to the amount of such Losses and Expenses, and pay to the Indemnitee, an amount that is just and equitable in the circumstances, taking into account, among other things, the relative fault of the parties who are (or would be, if joined in such Claim) jointly liable with the Indemnitee and contributions by other parties to the Indemnitee.  The Company and the Indemnitee agree that it would not be just and equitable if contribution were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in this Section 9.  Notwithstanding the foregoing provisions of this Section 9, the Company and the Indemnitee agree that, in the absence of bad faith, acts of intentional fraud or dishonesty, intention not to act in the best interests of the Company or criminal conduct on the part of the Indemnitee, it would not be just and equitable for the Indemnitee to contribute to the payment of Losses or Expenses arising out of any Claim an amount greater than the amount of fees or salary and bonus paid to the Indemnitee for serving as a director or executive officer, respectively, of the Company during the twelve (12) months preceding the commencement of such Claim.

  

  

  

 

10.           D&O Insurance.

(a)           While the Indemnitee is serving as a director or executive officer of the Company and thereafter so long as the Indemnitee may be subject to any Claim by reason of the fact that he was a director or executive officer of the Company, the Company shall, subject to Section 10(b) below, use its reasonable good faith efforts to provide and maintain D&O Insurance, with the Indemnitee named as an insured with the same rights and benefits as are accorded to the most favorably insured of the Company’s directors or executive officers, with coverage amounts not less than, and upon terms no less favorable than, as provided in the D&O Insurance policy presently in effect and covering the Indemnitee and with an insurance carrier no less reputable than the insurance carrier currently issuing such present D&O Insurance policy.  The Company shall give prompt notice to the D&O Insurance carrier of the commencement of any Claim in accordance with the procedures set forth in the policy.  The Company shall thereafter take all necessary or desirable action to cause such insurer to pay, on behalf of the Indemnitee, all amounts payable as a result of the Claim in accordance with the terms of such policy.  The Indemnitee shall cooperate in good faith with the requirements of any D&O Insurance policy maintained by the Company and insuring the Indemnitee in connection with any Claim.  Notice of termination or failure to renew of the D&O Insurance shall be provided to the Indemnitee promptly upon the Company’s becoming aware of such termination or failure to renew.

(b)           Notwithstanding the provisions of Section 10(a), the Company shall have no obligation to obtain or maintain D&O Insurance if the Company, acting through its Board of Directors or the Executive Committee thereof, determines in good faith that such insurance is not reasonably available, the premium costs for such insurance are disproportionate to the amount of coverage provided, the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company.  In the event the Company (i) makes any such determination or (ii) is notified by the D & O Insurance carrier that such carrier is terminating or not renewing the D & O Insurance coverage, the Company shall promptly give notice of such determination or such notification, as the case may be, to the Indemnitee.

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(c)           Notwithstanding any other provision hereof, the Company shall not be obligated to make any separate payments to the Indemnitee for Expenses or Losses to the extent that D&O Insurance covers such Expenses or Losses and the carrier of the D&O Insurance makes payment for such Expenses or Losses directly to the Indemnitee.  To the extent that any payment payable by the carrier of the D&O Insurance in respect of such Expenses or Losses has previously been paid or advanced to the Indemnitee by the Company, the parties agree that the Company shall be subrogated to the rights of the Indemnitee to receive such payments from the D&O Insurance carrier and that the Indemnitee will take all actions reasonably necessary to turn over or otherwise cause the Company to receive such payment from the D&O Insurance carrier.

11.           Repayment of Losses and Expenses.  Except as otherwise provided in Section 10(c), the Indemnitee hereby agrees to repay the Company for all Losses and Expenses paid by the Company only if, and to the extent that, it shall be ultimately determined, in accordance with the provisions of Section 6 hereof, that the Indemnitee is not entitled to indemnification under this Agreement.

12.           Nonexclusivity; Exceptions.

(d)           The indemnification and advancement of Losses and Expenses provided by or granted pursuant to this Agreement shall not be deemed exclusive of any other rights to which the Indemnitee may be entitled under the Certificate of Incorporation of the Company or any bylaw, agreement, contract, vote of stockholders or disinterested directors, or pursuant to Delaware law or the direction of any court of competent jurisdiction.

(e)           The Company shall not be obligated to indemnify or advance expenses to the Indemnitee with respect to any proceeding or claim (i) initiated or brought voluntarily by the Indemnitee and not by way of defense, except as otherwise provided in Section 6 above, (ii) brought by the Company against the Indemnitee for willful misconduct unless a court of competent jurisdiction determines that such proceeding or claim was not brought or made in good faith or was frivolous, or (iii) in which a judgment is rendered against the Indemnitee for an accounting of profits from the purchase or sale by the Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934 and amendments thereto.

  

  

  

 

13.           Changes in Law.  In the event of any change, after the date of this Agreement, in any applicable law, statute, or rule which expands the right of a Delaware corporation to indemnify a member of its board of directors or an executive officer, such change shall be deemed to be within the purview of the Indemnitee’s rights and the Company’s obligations under this Agreement.  In the event of any change in any applicable law, statute or rule which narrows the right of a Delaware corporation to indemnify a member of its board of directors or an executive officer, such change, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties’ respective rights and obligations hereunder.

14.           Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar), nor shall any such waiver constitute a continuing waiver.

15.           Severability.  If any provision or provisions of this Agreement shall be held to be invalid, illegal, or unenforceable for any reason whatsoever, then: (a) the validity, legality, and enforceability of the remaining provisions of this Agreement (including, without limitation, all portions of any sections of this Agreement containing any such provision held to be invalid, illegal, or unenforceable that are not themselves invalid, illegal, or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all portions of any sections of this Agreement containing any such provision held to be invalid, illegal, or unenforceable, that are not themselves invalid, illegal, or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal, or unenforceable.

16.           Subrogation.  In the event of any payment by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all of the Indemnitee’s rights of recovery, and the Indemnitee shall execute all documents required and shall do all acts that may be necessary or desirable to secure such rights and to enable the Company effectively to bring suit to enforce such rights.

17.           Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original and both of which together shall be deemed to constitute one and the same agreement.

18.           Successors and Assigns.  This Agreement shall be binding upon the Company, its successors and assigns (including, without limitation, any transferee of all or substantially all of its assets and any successor by merger or operation of law) and shall inure to the benefit of the Indemnitee, his or her heirs, personal representatives and assigns.

  

  

  

 

19.           Notice. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed duly given: (a) if delivered by hand and signed for by the party addressee; (b) if mailed by certified mail, with postage prepaid and addressed to the Company at its principal address or to the Indemnitee at the address shown on the signature page hereof (or at such other address as provided to the Company by notice pursuant to this Section 19), on the third business day after the mailing date; (c) if sent via express overnight courier to the address provided for in clause (b) above, on the first business day after deposit with such express overnight courier.

20.           Governing Law. This Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware.

IN WITNESS WHEREOF, the parties have entered into this Agreement effective as of the date first written above

 

	 	ATRION CORPORATION
	 	 
	 	 
	 	 
	By:  	 
	 Its:  	 

                                                                

 

	 	INDEMNITEE
	 	 
	 	 
	 	 
	 	 

 

	 	Address:

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