Document:

Careview 8-K

Exhibit 10.4

 

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

 

COMMON STOCK PURCHASE WARRANT

 

CAREVIEW
COMMUNICATIONS, inc.

	Warrant Shares: _________	Initial Exercise Date: __________________

THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”)
certifies that, for value received, ______________________ (the “Holder”) is entitled, upon the terms and subject
to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial
Exercise Date”) and on or prior to the close of business on the one-year anniversary of the Initial Exercise Date (the
“Termination Date”) but not thereafter, to subscribe for and purchase from CareView Communications, Inc., a
Nevada corporation (the “Company”), up to __________________________________ (___________) shares (the “Warrant
Shares”) of common stock, par value $0.001 per share, of the Company (the “Common Stock”). The purchase
price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1. Date of Issuance and Term.

This Warrant
shall be deemed to be issued on ______________ [ ], 2013 (“Date of Issuance”). The Term of this Warrant begins on
the Date of Issuance and ends at 5:00 p.m., New York City time, on the date that is five (5) years after the Date of Issuance
(the “Term”).

 

Section 2.  Exercise.

a)  Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part,
at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of
a duly executed facsimile copy of the Notice of Exercise Form annexed hereto (or such other office or agency of the Company as
it may designate by notice in writing to the registered Holder at the address of such Holder appearing on the books of the Company);
and, within 3 Trading Days of the date said Notice of Exercise is delivered to the Company, the Company shall have received payment
of the aggregate Exercise Price of

    	1

    	 

    

the shares thereby purchased by
wire transfer or cashier’s check drawn on a United States bank. Notwithstanding anything herein to the contrary, the Holder
shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares
available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company
for cancellation within 3 Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises
of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect
of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant
Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date
of such purchases. The Company shall deliver any objection to any Notice of Exercise Form within one Business Day of receipt of
such notice. In the event of any dispute or discrepancy, the records of the Holder shall be controlling and determinative in the
absence of manifest error. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of
the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares
available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

b)  Exercise
Price. The exercise price per share of the Common Stock under this Warrant shall be $0.52, subject to adjustment
hereunder (the “Exercise Price”).

c)  Cashless Exercise. If at any time after the 144 holding period has been satisfied starting from the date of issuance
of this Warrant, there is no effective Registration Statement registering, or no current prospectus available for, the resale of
the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise”
in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained
by dividing [(A-B) (X)] by (A), where:

(A) = the VWAP
on the Trading Day immediately preceding the date of such election. For the purposes of this Warrant “VWAP” means,
for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or
quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg Financial L.P. (based on
a Trading Day from 9:30a.m. Eastern Time to 4:02 p.m. Eastern Time); (b) if the Common Stock is not listed or quoted on a Trading
Market and if prices for the Common Stock are then reported in the “Pink Sheets” published by the Pink Sheets LLC (or
similar organization or agency succeeding to its function of reporting prices), the most recent bid per share of the Common Stock
so reported; or (c) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser
selected in good faith by the Holder and reasonably acceptable to the Company;

 

    	2

    	 

    

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

 

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

 

d)  Holder’s Restrictions. The Company shall not effect any exercise of this Warrant, and a Holder shall not have
the right to exercise any portion of this Warrant, pursuant to Section 2(c) or otherwise, to the extent that after giving effect
to such issuance after exercise as set forth on the applicable Notice of Exercise, such Holder (together with such Holder’s
Affiliates, and any other person or entity acting as a group together with such Holder or any of such Holder’s Affiliates),
as set forth on the applicable Notice of Exercise, would beneficially own in excess of the Beneficial Ownership Limitation (as
defined below).  For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by such Holder
and its Affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which
such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (A) exercise
of the remaining, nonexercised portion of this Warrant beneficially owned by such Holder or any of its Affiliates and (B) exercise
or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation,
any other Notes or Warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially
owned by such Holder or any of its affiliates.  Except as set forth in the preceding sentence, for purposes of this Section
2(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder, it being acknowledged by a Holder that the Company is not representing to such Holder that such calculation
is in compliance with Section 13(d) of the Exchange Act and such Holder is solely responsible for any schedules required to be
filed in accordance therewith. To the extent that the limitation contained in this Section 2(d) applies, the determination of whether
this Warrant is exercisable (in relation to other securities owned by such Holder together with any Affiliates) and of which a
portion of this Warrant is exercisable shall be in the sole discretion of a Holder, and the submission of a Notice of Exercise
shall be deemed to be each Holder’s determination of whether this Warrant is exercisable (in relation to other securities
owned by such Holder together with any Affiliates) and of which portion of this Warrant is exercisable, in each case subject to
such aggregate percentage limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination.
In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d)
of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(d), in determining the
number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected
in (x) the Company’s most recent Form 10-Q or Form 10-K, as the case may be, (y) a more recent public announcement by the
Company or (z) any other notice by the Company or the Company’s Transfer Agent setting forth the number of shares of Common
Stock outstanding.  Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally
and

    	3

    	 

    

in writing to such Holder the
number of shares of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be
determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by such Holder
or its Affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial
Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving
effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Beneficial Ownership Limitation provisions
of this Section 2(d) may be waived by such Holder, at the election of such Holder, upon not less than 61 days’ prior notice
to the Company to change the Beneficial Ownership Limitation to 9.99% of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant, and the provisions of this Section
2(d) shall continue to apply. Upon such a change by a Holder of the Beneficial Ownership Limitation from such 4.99% limitation
to such 9.99% limitation, the Beneficial Ownership Limitation may not be further waived by such Holder. The provisions of this
paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(d)
to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership
Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation.
The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

e)  Mechanics of Exercise.

                                                         i.  Authorization of Warrant Shares. The Company covenants that all Warrant Shares which may be issued upon the exercise
of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant, be duly
authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect
of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). The Warrant Shares
when issued shall be free from all restrictions on transfer except as set forth herein and under applicable federal and state securities
laws.

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

    	4

    	 

    

have been issued, and Holder or
any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes,
as of the date the Warrant has been exercised by payment to the Company of the Exercise Price (or by cashless exercise, if permitted)
and all taxes required to be paid by the Holder, if any, pursuant to Section 2(e)(vii) prior to the issuance of such shares, have
been paid. If the Company fails for any reason to deliver to the Holder certificates evidencing the Warrant Shares subject to a
Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to such Holder, in cash, as liquidated damages and
not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date
of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such
liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such certificates are delivered.

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

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

                                                         v.  Compensation for Buy-In on Failure to Timely Deliver Certificates Upon Exercise. In addition to any other rights
available to the Holder, if the Company fails to cause its transfer agent to transmit to the Holder a certificate or certificates
representing the Warrant Shares pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the
Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm
otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the
Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (1) pay in cash to the
Holder the amount by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares
of Common Stock so purchased exceeds (y) the amount obtained by multiplying (A) the number of Warrant Shares that the Company was
required to deliver to the Holder in connection with the exercise at issue times (B) the price at which the sell order giving rise
to such purchase obligation was executed, and (2) at the option of the Holder, either reinstate the portion of the

    	5

    	 

    

Warrant and equivalent number
of Warrant Shares for which such exercise was not honored or deliver to the Holder the number of shares of Common Stock that would
have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder
purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares
of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (1) of the immediately
preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice
indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount
of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law
or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s
failure to timely deliver certificates representing shares of Common Stock upon exercise of the Warrant as required pursuant to
the terms hereof.

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

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

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

    	6

    	 

    

 

Section 3.  Certain Adjustments.

a)  Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (A) pays a stock dividend
or otherwise make a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company
upon exercise of this Warrant), (B) subdivides outstanding shares of Common Stock into a larger number of shares, (C) combines
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (D) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares,
if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted.
Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination
of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date
in the case of a subdivision, combination or reclassification.

b)  Fundamental Transaction. If, at any time while this Warrant is outstanding, (A) the Company effects any merger or
consolidation of the Company with or into another Person, (B) the Company effects any sale of all or substantially all of its assets
in one or a series of related transactions, (C) any tender offer or exchange offer (whether by the Company or another Person) is
completed pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash
or property, or (D) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which
the Common Stock is effectively converted into or exchanged for other securities, cash or property (each “Fundamental
Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each
Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction,
the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation,
and any additional consideration (the “Alternate Consideration”) receivable as a result of such merger, consolidation
or disposition of assets by a Holder of the number of shares of Common Stock for which this Warrant is exercisable immediately
prior to such event. For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted
to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction. To the extent necessary to effectuate the foregoing provisions, any successor to the Company or

    	7

    	 

    

surviving entity in such Fundamental
Transaction shall issue to the Holder a new warrant consistent with the foregoing provisions and evidencing the Holder’s
right to exercise such warrant into Alternate Consideration. The terms of any agreement pursuant to which a Fundamental Transaction
is effected shall include terms requiring any such successor or surviving entity to comply with the provisions of this Section
3(b) and insuring that this Warrant (or any such replacement security) will be similarly adjusted upon any subsequent transaction
analogous to a Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction that
is (1) an all cash transaction, (2) a “Rule 13e-3 transaction” as defined in Rule 13e-3 under the Securities Exchange
Act of 1934, as amended, or (3) a Fundamental Transaction involving a person or entity not traded on a national securities exchange,
the Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market, the Company or any successor entity shall
pay at the Holder’s option, exercisable at any time concurrently with or within 30 days after the consummation of the Fundamental
Transaction, an amount of cash equal to the value of this Warrant as determined in accordance with the Black-Scholes option pricing
formula using an expected volatility equal to the 100 day historical price volatility obtained from the HVT function on Bloomberg
L.P. as of the trading day immediately prior to the public announcement of the Fundamental Transaction. 

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

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

e)  Notice to Holder.

                                                         i.  Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section
3, the Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and setting forth
a brief statement of the facts requiring such adjustment. If the Company enters into a Variable Rate Transaction, the Company
shall be deemed to have issued Common Stock or Common Stock Equivalents at the lowest possible conversion or exercise price at
which such securities may be converted or exercised.

                                                         ii.  Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever
form) on the Common Stock; (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common
Stock; (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase
any shares of capital stock of any

    	8

    	 

    

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

Section 4.  Transfer of
Warrant.

a)  Transferability. Subject to compliance with any applicable securities laws, this Warrant and all rights hereunder
(including, without limitation, any registration rights) are transferable, whether or not such transfer is to an affiliate of the
Holder, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together
with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or
attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required,
such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the
denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing
the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. A Warrant, if properly assigned, may
be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

b)  New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid
office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or its agent or attorney. Subject to compliance with Section

    	9

    	 

    

4(a), as to any transfer which
may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for
the Warrant or Warrants to be divided or combined in accordance with such notice.

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

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

Section 5.  Miscellaneous.

a)  No Rights as Shareholder Until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights
as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(e)(ii).

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

c)  Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of
any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised
on the next succeeding Business Day.

    	10

    	 

    

 

d)   Authorized Shares. The Company covenants that during the period the Warrant is outstanding, it will reserve from
its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the
exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute
full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary
certificates for the Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such
reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of
any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed.

Except and to
the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue
or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms
of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such
actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without
limiting the generality of the foregoing, the Company will (a) not increase the par value of any Warrant Shares above the amount
payable therefor upon such exercise immediately prior to such increase in par value, (b) take all such action as may be necessary
or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise
of this Warrant, and (c) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any
public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under
this Warrant.

 

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

 

e)  Jurisdiction. This Agreement shall be governed by and construed in accordance with the internal laws of the State
of Texas. Any controversy or claim arising out of or related to this Warrant or the breach thereof, shall be settled by binding
arbitration in Dallas, Texas in accordance with the Expedited Procedures (Rules 53-57) of the Commercial Arbitration Rules of the
American Arbitration Association (“AAA”). A proceeding shall be commenced upon written demand by the Company or Warrant
holder to the other. The arbitrator(s) shall enter a judgment by default against any party which fails or refuses to appear in
any properly noticed arbitration proceeding. The proceeding shall be conducted by one (l) arbitrator, unless the amount alleged
to be in dispute exceeds two hundred fifty thousand dollars ($250,000) in which case three (3) arbitrators shall preside. The arbitrator(s)
will be chosen by the parties from a list provided by the AAA, and if the parties are unable to agree within ten (10) days, the

    	11

    	 

    

AAA shall select the arbitrator(s).
The arbitrator(s) must experts in securities law and financial transactions. The arbitrator(s) shall access costs and expenses
of the arbitration, including all attorneys’ and experts’ fees, as the arbitrators believe is appropriate in light
of the merits of the parties’ respective positions in the issues in dispute. Each party submits irrevocably to the jurisdiction
of any state court sitting in Dallas, Texas or to the United States District Court sitting in Dallas, Texas for purposes of enforcement
of any discovery order, judgment or award in connection with such arbitration. The award of the arbitrator(s) shall be final and
binding upon the parties and may be enforced in any court having jurisdiction. The arbitration shall be held in such place as set
by the arbitrator(s) in accordance with Rule 55. With respect to any arbitration proceeding in accordance with this section, the
prevailing party’s reasonable attorney’s fees and expenses shall be borne by the non-prevailing party.

Although the
parties, as expressed above, agree that all claims, including claims that are equitable in nature, for example-specific performance,
shall initially be prosecuted in the binding arbitration procedure outlined above, if the arbitration panel dismisses or otherwise
fails to entertain any or all of the equitable claims asserted by reason of the act that is lacks jurisdiction, power and/or authority
to consider such claims and/or direct the remedy requested, then, in only that event, will the parties have the right to initiate
litigation respecting such equitable claims or remedies. The forum for such equitable relief shall be in either a state or federal
court sitting in Dallas, Texas. Each party waives any right to a trial by jury, assuming such right exists in an equitable proceeding,
and irrevocably submits to the jurisdiction of said Texas court. Texas law shall govern both the proceeding as well as the interpretation
and construction of this Warrant and the transaction as a whole.

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

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

h)  Notices. Any notices required or permitted to be given under the terms of this Agreement shall be sent by certified
or registered mail (return receipt requested) or delivered personally or by courier (including a recognized overnight delivery
service) or by facsimile and shall be effective five days after being placed in the mail, if mailed by regular United States mail,
or upon receipt, if delivered personally or by courier

    	12

    	 

    

(including a recognized overnight
delivery service) or by facsimile, in each case addressed to a party. The addresses for such communications shall be:

If to the Company, to:

 

Mr. Steve Johnson, President

CareView Communications, Inc.

405 State Highway 121

Suite B-240

Lewisville, TX 75067

Phone: (972) 943-6000

Fax: (972) 403-7659

 

If to the Warrant Holder, to: 

 

 

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

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

k)  Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced
hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and
shall be enforceable by any such Holder or holder of Warrant Shares.

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

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

    	13

    	 

    

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

 

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

    	14

    	 

    

 

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

  

	 	 	CAREVIEW COMMunICATIONS, inc.
	 	 	 
	 	By:	 
	 	 	Name: Steve Johnson
	 	 	Title: President
	 	 	 

 

 

    	15

    	 

    

NOTICE OF EXERCISE

 

To:CAREVIEW COMMUNICATIONS,
inc.

 

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

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

o
in lawful money of the United States; or

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

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

_______________________________

 

 

The Warrant Shares shall be delivered to the following DWAC Account
Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

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

 

[SIGNATURE OF HOLDER]

 

Name of Investing Entity:

____________________________________________________________________

Signature of Authorized Signatory of Investing Entity: ____________________________________________________________________

Name of Authorized Signatory:

____________________________________________________________________

Title of Authorized Signatory:

____________________________________________________________________

 

Date:________________________________________________________________

 

 

    	16

    	 

    

 

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

 

 

FOR VALUE RECEIVED, [____] all
of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

_______________________________________________ whose address is

 

_______________________________________________________________.

 

 

 

_______________________________________________________________

 

Dated: ______________, _______

 

 

Holder’s Signature:_____________________________

 

Holder’s Address:  _____________________________

 

_____________________________

 

 

 

Signature Guaranteed: ___________________________________________

 

 

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

 

    	17Careview 8-K

Exhibit 10.5

 

 

CAREVIEW COMMUNICATIONS, INC.

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION
AGREEMENT is entered into and is effective as of June 21, 2010, by and between CareView Communications, Inc., a Nevada corporation
(the “Company”), and Samuel A. Greco (“Indemnitee”).

 

WHEREAS, it is
essential to the Company to retain and attract as directors and officers the most capable persons available;

 

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

 

WHEREAS, both the
Company and Indemnitee recognize the increased risk of litigation that may be asserted against directors and officers of corporations;

 

WHEREAS, the Company’s
Articles of Incorporation permits, and Bylaws of the Company require, the Company to indemnify and advance expenses to its directors
and officers to the fullest extent permitted under Nevada law, and the Indemnitee has been serving and continues to serve as a
director and/or officer of the Company in part in reliance on the Company’s Articles of Incorporation and Bylaws;

 

WHEREAS, in recognition
of Indemnitee’s need for substantial protection against personal liability in order to enhance the Indemnitee’s continued
and effective service to the Company and, specific contractual assurance that the protection promised by the Articles of Incorporation
and Bylaws will be available to Indemnitee (regardless of, among other things, any amendment to or revocation of the Articles of
Incorporation and Bylaws or any change in the composition of the Company’s Board of Directors or acquisition transaction
relating to the Company), and in order to induce Indemnitee to provide effective services to the Company as a director and/or officer,
the Company wishes to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest
extent (whether partial or complete) permitted under Nevada law and as set forth in this Agreement, and, to the extent insurance
is maintained which includes Indemnitee as a covered party, to provide for the continued coverage of Indemnitee under the Company’s
directors’ and officers’ liability insurance policies;

 

NOW, THEREFORE,
in consideration of the above premises and of Indemnitee continuing to serve the Company directly or, at its request, with another
enterprise, and intending to be legally bound hereby, the parties agree as follows:

 

1. Certain
Definitions.

 

(a) “Board”
shall mean the Board of Directors of the Company.

 

(b) “Change
in Control” shall be deemed to have occurred if (i) any ‘person’ (as such term is used in Sections 13(d)
and 14(d) of the Securities Exchange Act of 1934, as amended (the ‘Exchange Act’)), other than a trustee or
other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly
by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, is or becomes
the ‘beneficial owner’ (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of
the Company representing 50% or more of the total voting power represented by the Company’s then outstanding Voting Securities,
or (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and
any new director whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote
of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period
or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority of the Board,
or (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other entity, other than
a merger or consolidation that would result in the

 

    	 

    	 

    

Voting Securities of the Company outstanding
immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting Securities
of the surviving entity) at least 80% of the total voting power represented by the Voting Securities of the Company or such surviving
entity outstanding immediately after such merger or consolidation, or (iv) the stockholders of the Company approve a plan
of complete liquidation of the Company or an agreement for the sale or disposition by the Company (in one transaction or a series
of transactions) of all or substantially all of the Company’s assets.

 

(c) “Expenses”
shall mean any expense, liability, or loss, including attorneys’ fees, judgments, fines, ERISA excise taxes and penalties,
amounts paid or to be paid in settlement, any interest, assessments, or other charges imposed thereon, any federal, state, local,
or foreign taxes imposed as a result of the actual or deemed receipt of any payments under this Agreement, and all other costs
and obligations, paid or incurred in connection with investigating, defending, being a witness in, participating in (including
on appeal), or preparing for any of the foregoing in, any Proceeding relating to any Indemnifiable Event.

 

(d) “Indemnifiable
Event” shall mean any event or occurrence that takes place either prior to or after the execution of this Agreement,
related to the fact that Indemnitee is or was a director and/or officer of the Company, or while a director or officer is or was
serving at the request of the Company as a director, officer, employee, trustee, agent, or fiduciary of a subsidiary of the Company
or of any other foreign or domestic corporation, partnership, joint venture, employee benefit plan, trust, or other enterprise,
or was a director, officer, employee, or agent of a foreign or domestic corporation that was a predecessor corporation of the Company
or of another enterprise at the request of such predecessor corporation, or related to anything done or not done by Indemnitee
in any such capacity, whether or not the basis of the Proceeding is alleged action in an official capacity as a director, officer,
employee, or agent or in any other capacity while serving as a director, officer, employee, or agent of the Company, as described
above.

 

(e) “Independent
Counsel” shall mean counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably
withheld), and who has not otherwise performed services for the Company or the Indemnitee (other than in connection with indemnification
matters) within the last three years.

 

(f) “Proceeding”
shall mean any threatened, pending, or completed action, suit, or proceeding or any alternative dispute resolution mechanism
(including an action by or in the right of the Company), or any inquiry, hearing, or investigation, whether conducted by the Company
or any other party, that Indemnitee in good faith believes might lead to the institution of any such action, suit, or proceeding,
whether civil, criminal, administrative, investigative, or other.

 

(g) “Voting
Securities” shall mean any securities of the Company that vote generally in the election of directors.

 

2. Agreement
to Indemnify.

 

(a) General Agreement. In
the event Indemnitee was, is, or becomes a party to or witness or other participant in, or is threatened to be made a party to
or witness or other participant in, a Proceeding by reason of (or arising in part out of) an Indemnifiable Event, the Company shall
indemnify Indemnitee from and against any and all Expenses to the fullest extent permitted by law, as the same exists or may hereafter
be amended or interpreted. The parties hereto intend that this Agreement shall provide for indemnification in excess of that expressly
permitted by statute, including, without limitation, any indemnification provided by the Company’s Articles of Incorporation,
its Bylaws, vote of its stockholders or disinterested directors, or applicable law. The only limitation that shall exist upon the
Company’s obligations pursuant to this Section 2 shall be that the Company shall not be obligated to make any payment
to Indemnitee that is finally determined by a court of competent jurisdiction in a final judgment, not subject to appeal, to be
unlawful.

 

(b) Initiation
of Proceeding. Notwithstanding anything in this Agreement to the contrary, Indemnitee shall not be entitled to indemnification
pursuant to this Agreement in connection with any Proceeding or part thereof initiated by Indemnitee against the Company or any
director or officer of the Company unless (i) the Company has joined in or the Board has consented to the initiation of such
Proceeding or part thereof; (ii) the Proceeding or part thereof is one to enforce indemnification rights under Section 4;
or (iii) the Proceeding or part thereof is instituted

    	 

    	 

    

after a Change in Control (other than
a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such Change in
Control) and Independent Counsel has approved its initiation.

 

(c) Expense
Advances. If so requested by Indemnitee, the Company shall advance (within thirty business days of such request) any and
all Expenses incurred by Indemnitee (an “Expense Advance”). The Indemnitee shall qualify for such Expense Advances
upon the execution and delivery to the Company of this Agreement which shall constitute an undertaking providing that the Indemnitee
undertakes to repay such Expense Advances if and to the extent that it is ultimately determined by a court of competent jurisdiction
in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. Until it is so finally
determined by the court that Indemnitee is not entitled to indemnification, Indemnitee shall not be required to repay such Expense
Advances to the Company and Indemnitee shall continue to receive Expense Advances pursuant to this Section 2(c). Indemnitee’s
obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon. To the extent
permissible under third party policies, the Company agrees that invoices for Expense Advances shall be billed in the name of and
be payable directly by the Company.

 

(d) Mandatory
Indemnification. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful
on the merits or otherwise in defense of any Proceeding relating in whole or in part to an Indemnifiable Event or in defense of
any issue or matter therein, Indemnitee shall be indemnified against all Expenses incurred in connection therewith.

 

(e) Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for
some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee
for the portion thereof to which Indemnitee is entitled. Attorneys’ fees and expenses shall not be prorated but shall be
deemed to apply to the portion of indemnification to which Indemnitee is entitled.

 

(f) Prohibited
Indemnification. No indemnification pursuant to this Agreement shall be paid by the Company on account of any Proceeding
in which judgment is rendered against Indemnitee for an accounting of profits made from the purchase or sale by Indemnitee of securities
of the Company pursuant to the provisions of Section 16(b) of the Exchange Act, or similar provisions of any federal, state,
or local laws.

 

3. Indemnification
Process and Appeal.

 

(a) Indemnification
Payment. Indemnitee shall be entitled to indemnification of Expenses, and shall receive payment thereof, from the Company
in accordance with this Agreement as soon as practicable after Indemnitee has made written demand on the Company for indemnification,
unless indemnification of such Expenses is prohibited under Section 2(f) of this Agreement.

 

(b) Suit
to Enforce Rights. If Indemnitee has not received full advancement within thirty (30) days or full indemnification
within ninety (90) days after making a demand in accordance with Section 3(a), Indemnitee shall have the right to enforce
its indemnification rights under this Agreement by commencing litigation in the State of Texas, County of Denton, seeking an initial
determination by the court or challenging any determination by the Company or any aspect thereof. The Company hereby consents to
service of process and to appear in any such proceeding. The remedy provided for in this Section 3 shall be in addition to
any other remedies available to Indemnitee at law or in equity. The Company shall be precluded from asserting in any judicial proceeding
commenced pursuant to this Section 3(b) that the procedures and presumptions of this Agreement are not valid, binding and
enforceable and shall stipulate that the Company is bound by all the provisions of this Agreement.

 

(c) Defense
to Indemnification, Burden of Proof, and Presumptions. It shall be a defense to any action brought by Indemnitee against
the Company to enforce this Agreement (other than an action brought to enforce a claim for Expenses incurred in defending a Proceeding
in advance of its final disposition) that it is not permissible under applicable law for the Company to indemnify Indemnitee for
the amount claimed. In connection with any such action to whether Indemnitee is entitled to be indemnified hereunder, the burden
of proving such a defense or determination shall be on the Company to establish by clear and convincing evidence that Indemnitee
is not so

    	 

    	 

    

entitled to indemnification. It is the
parties’ intention that if Indemnitee commences legal proceedings to secure a judicial determination that Indemnitee should
be indemnified under this Agreement or applicable law, the question of Indemnitee’s right to indemnification shall be for
the court to decide, as a de novo trial on the merits.

 

(d) To the maximum
extent permitted by applicable law in making a determination with respect to entitlement to indemnification (or advancement of
expenses) hereunder, the Company shall presume that Indemnitee is entitled to indemnification (or advancement of expenses) under
this Agreement if Indemnitee has submitted a request for advancement under Section 2(c) of this Agreement for indemnification
in accordance with Section 3(a) of this Agreement, and the Company shall have the burden of proof to overcome that assumption
by clear and convincing evidence in connection with the making of any determination contrary to that presumption.

 

(e) The Company
acknowledges that a settlement or other disposition of a Proceeding short of final judgment may constitute success by Indemnitee
if it permits a party to avoid expense, delay, distraction, disruption and uncertainty. In the event that any Proceeding to which
Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation,
settlement of such Proceeding without payment of money or other consideration) it shall be presumed (unless there is clear and
convincing evidence to the contrary) that Indemnitee has been successful on the merits or otherwise in such Proceeding. Anyone
seeking to overcome this presumption shall have the burden of proof and the burden of persuasion, by clear and convincing evidence.

 

4. Indemnification
for Expenses Incurred in Enforcing Rights. The Company shall indemnify Indemnitee against any and all Expenses that are
incurred by Indemnitee in connection with any action brought by Indemnitee for:

 

(a) indemnification
or advance payment of Expenses by the Company under this Agreement or any other agreement or under applicable law or the Company’s
Articles of Incorporation or Bylaws now or hereafter in effect relating to indemnification for Indemnifiable Events, and/or

 

(b) recovery under
directors’ and officers’ liability insurance policies maintained by the Company, but only in the event that Indemnitee
ultimately is determined to be entitled to such indemnification or insurance recovery, as the case may be.

 

In addition, the Company shall, if so
requested by Indemnitee, advance the foregoing Expenses to Indemnitee, subject to and in accordance with Section 2(c).

 

5. Notification
and Defense of Proceeding.

 

(a) Notice. Promptly
after receipt by Indemnitee of notice of the commencement of any Proceeding, Indemnitee shall, if a claim in respect thereof is
to be made against the Company under this Agreement, notify the Company of the commencement thereof; but the omission so to notify
the Company will not relieve the Company from any liability that it may have to Indemnitee, except as provided in Section 5(c).

 

(b) Defense. With
respect to any Proceeding as to which Indemnitee notifies the Company of the commencement thereof, the Company will be entitled
to participate in the Proceeding at its own expense and except as otherwise provided below, to the extent the Company so wishes,
it may assume the defense thereof with counsel reasonably satisfactory to Indemnitee. After notice from the Company to Indemnitee
of its election to assume the defense of any Proceeding, the Company shall not be liable to Indemnitee under this Agreement or
otherwise for any Expenses subsequently incurred by Indemnitee in connection with the defense of such Proceeding other than reasonable
costs of investigation, transition costs associated with the Company’s assumption of the defense, or as otherwise provided
below. Indemnitee shall have the right to employ legal counsel in such Proceeding, but all Expenses related thereto incurred after
notice from the Company of its assumption of the defense shall be at Indemnitee’s expense unless: (i) the employment
of legal counsel by Indemnitee has been authorized by the Company, (ii) Indemnitee has reasonably determined that there may
be a conflict of interest between Indemnitee and the Company in the defense of the Proceeding, (iii) after a Change in Control
(other than a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such
Change in

    	 

    	 

    

Control), the employment of counsel
by Indemnitee that has been approved by Independent Counsel, or (iv) the Company shall not in fact have employed counsel to
assume the defense of such Proceeding, in each of which cases all Expenses of the Proceeding shall be borne by the Company. The
Company shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Company or as to which Indemnitee
shall have made the determination provided for in (ii), (iii) and (iv) above.

 

(c) Settlement
of Claims. The Company shall not be liable to indemnify Indemnitee under this Agreement or otherwise for any amounts paid
in settlement of any Proceeding effected without the Company’s written consent, such consent not to be unreasonably withheld;
provided, however, that if a Change in Control has occurred (other than a Change in Control approved by a majority of the directors
on the Board who were directors immediately prior to such Change in Control), the Company shall be liable for indemnification of
Indemnitee for amounts paid in settlement if the Independent Counsel has approved the settlement. The Company shall not settle
any Proceeding in any manner that would impose any penalty or limitation on Indemnitee without Indemnitee’s prior written
consent. The Company shall promptly notify Indemnitee once the Company has received an offer or intends to make an offer to settle
any such Proceeding and the Company shall provide Indemnitee as much time as reasonably practicable to consider such offer; provided,
however Indemnitee shall have no less than three (3) business days to consider the offer. The Company shall not be liable
to indemnify the Indemnitee under this Agreement with regard to any judicial award if the Company was not given a reasonable and
timely opportunity, at its expense, to participate in the defense of such action; the Company’s liability hereunder shall
not be excused if participation in the Proceeding by the Company was barred by this Agreement.

 

6. Non-Exclusivity. Except
with regard to the Company’s primary obligations, as set forth in Section 10 hereof, the rights of Indemnitee hereunder
shall be in addition to any other rights Indemnitee may have under the Company’s Articles of Incorporation, Bylaws, applicable
law, or otherwise; provided, however, that this Agreement shall supersede any prior indemnification agreement between the Company
and the Indemnitee. To the extent that a change in applicable law (whether by statute or judicial decision) permits greater indemnification
than would be afforded currently under the Company’s Certificate of Incorporation, Bylaws, applicable law, or this Agreement,
it is the intent of the parties that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change without
any further action by the parties hereto.

 

7. Liability
Insurance.

 

(a) The Company
hereby covenants and agrees that, so long as the Indemnitee shall continue to serve as an agent of the Company and thereafter so
long as the Indemnitee shall be subject to any possible proceeding by reason of the fact that the Indemnitee was an agent of the
Company, the Company, subject to Section 7(b), shall use reasonable efforts to obtain and maintain in full force and effect
directors’ and officers’ liability insurance (“D&O Insurance”) in reasonable amounts from established
and reputable insurers and Indemnitee shall be a covered party under such insurance to the maximum extent of the coverage available
for any director or officer of the Company.

 

(b) Notwithstanding
the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company 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, or the coverage is reduced by exclusions so as to provide an insufficient benefit.

 

8. Amendment
of this Agreement. 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 binding unless in the form of a writing
signed by the party against whom enforcement of the waiver is sought, and no such waiver shall operate as a waiver of any other
provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver. Except as specifically provided
herein, no failure to exercise or any delay in exercising any right or remedy hereunder shall constitute a waiver thereof.

 

9. Subrogation. Except
with regard to the Company’s primary obligations, as set forth in Section 10 hereof, in the event of payment under this
Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall
execute all papers required and shall do everything that may be

    	 

    	 

    

necessary to secure such rights, including
the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights.

 

10. No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any
claim made against Indemnitee to the extent Indemnitee has otherwise received payment (under any insurance policy, Bylaw, or otherwise)
of the amounts otherwise indemnifiable hereunder; provided, however, that (a) the Company hereby agrees that its obligations
to Indemnitee under this Agreement or any other agreement or undertaking to provide advancement, indemnification or both to Indemnitee
are primary. In addition, the Company hereby unconditionally and irrevocably waives, relinquishes, releases, and covenants and
agrees not to exercise, any rights that the Company may now have or hereafter acquires against the Indemnitee that arise from or
relate to contribution, subrogation or any other recovery of any kind under this Agreement or any other indemnification agreement
(whether pursuant to the Bylaws or Articles or another contract). The Company and Indemnitee hereby agree that this Section 10
shall be deemed exclusive and shall be deemed to modify, amend and clarify any right to indemnification or advancement provided
to Indemnitee under any other contract, agreement or document with the Company.

 

11. Binding
Effect. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter
hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect
to the subject matter hereof. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors (including any direct or indirect successor by purchase, merger, consolidation, or otherwise
to all or substantially all of the business and/or assets of the Company), assigns, spouses, heirs, and personal and legal representatives.
The indemnification provided under this Agreement shall continue as to Indemnitee for any action taken or not taken while serving
in an indemnified capacity pertaining to an Indemnifiable Event even though he may have ceased to serve in such capacity at the
time of any Proceeding.

 

12. Severability. If
any provision (or portion thereof) of this Agreement shall be held by a court of competent jurisdiction to be invalid, void, or
otherwise unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted by law. Furthermore,
to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of this Agreement
containing any provision held to be invalid, void, or otherwise unenforceable, that is not itself invalid, void, or unenforceable)
shall be construed so as to give effect to the intent manifested by the provision held invalid, void, or unenforceable.

 

13. Third-Party
Beneficiary. Independent Counsel is express third-party beneficiaries of this Agreement, and may specifically enforce the Company’s
obligations hereunder (including, but not limited to, the obligations specified in Section 10 hereof) as though a party hereunder.

 

14. Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Texas
applicable to contracts made and to be performed in such state without giving effect to its principles of conflicts of laws.

 

15. Consent
to Jurisdiction. The Company and Indemnitee hereby irrevocably (i) agree that any action or proceeding arising out
of or in connection with this Agreement shall be brought only in the State of Texas, County of Denton, (ii) consent to submit
to the exclusive jurisdiction of the State of Texas, County of Denton, for purposes of any action or proceeding arising out of
or in connection with this Agreement, and (iii) waive any objection to the venue of any such action or proceeding in the State
of Texas, County of Denton.

 

16. Notices.
All notices, demands and other communications required or permitted hereunder shall be made in writing and shall be deemed to have
been duly given if delivered by hand, against receipt or mailed, postage prepaid, certified or registered mail, return receipt
requested and addressed to the Company at:

 

    	 

    	 

    

 

CareView Communications,
Inc.

Attn: Steven G.
Johnson, President

405 State Highway
121, Suite B-240

Lewisville, TX
75067

 

and to Indemnitee at:

 

Samuel A. Greco

4405 Dade Drive

Flower Mound, TX 75028

 

Notice of change of address shall be effective
only when given in accordance with this Section. All notices complying with this Section shall be deemed to have been received
on the date of hand delivery or on the third business day after mailing.

 

17. 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.

(Signature page follows)

 

 

IN WITNESS WHEREOF,
the parties hereto have duly executed and delivered this Agreement as of the day specified above.

 

 

	 	 	 CAREVIEW COMMUNICATIONS, INC.
	 	 	 
	 	By:	/s/ Steven G. Johnson  
	 	 	Steven G. Johnson    
	 	 	President
	 	 	 
	 	 	 /s/ Samuel A. Greco 
	 	 	 Samuel A. Greco, an individual

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}]]