Document:

EX-10.2

THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION 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 AFTER RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT.

SENIOR SECURED NOTE

Philadelphia, Pennsylvania

Dated: March 25, 2010

$22,000,000.00

FOR VALUE RECEIVED AND INTENDING TO BE LEGALLY BOUND, RAIT FINANCIAL TRUST, a Maryland real
estate investment trust (“Company”), hereby promises to pay to the order of UNITED EQUITIES
COMMODITIES COMPANY, a New York general partnership (“Holder”), the principal sum of
Twenty-Two Million and 00/100 Dollars ($22,000,000.00), together with interest thereon upon the
terms and conditions hereinafter set forth.

1. Interest Rate. Interest on the unpaid principal balance hereof will accrue from
the date of this Note until final payment thereof at the fixed rate of ten percent (10%) per annum.

2. Interest Payment Dates. Interest on this Note shall be payable quarterly in
arrears on the January 15, April 15, July 15 and October 15 in each year, commencing with July 15,
2010.

3. Maturity. Principal, together with all accrued and unpaid interest thereon and all
other fees, costs and expenses payable hereunder or under the Transaction Documents (as such term
is defined in Section 9 hereof), is due and payable on April 20, 2014 (the “Maturity
Date”).

4. Place of Payment. Principal and interest hereunder shall be payable at the office
of Holder set forth in Section 19 hereof, or at such other place as Holder, from time to time, may
designate in writing.

5. Prepayment. The Company may prepay all or any part of the principal balance hereof
at any time or from time to time, without penalty or additional payment, provided that any such
prepayment shall be accompanied by the payment of all accrued and unpaid interest on the portion of
this Note being prepaid to the date of such prepayment and all other fees and charges due hereunder
and under the other Transaction Documents; and provided further, that the Company shall give the
Holder written notice (a “Prepayment Notice”) of its intent to prepay all or any portion of
this Note not less than seven (7) business days prior to the date the Company shall have fixed in
the Prepayment Notice as the date of prepayment. If the Company shall not have received a Notice
of Exercise pursuant to Section 18 hereof with respect to the principal amount of the Note
identified in the Prepayment Notice as being prepaid on or before 4:30 p.m. Eastern time on the
seventh business day after delivery of the Prepayment Notice to Holder, the Company may make the
prepayment set forth in the Prepayment Notice free of any conversion right of Holder pursuant to
Section 18 hereof. Any principal prepayment hereunder must be in an amount of not less than
$1,000,000 or any integral multiple of $1,000,000. For purposes of this Section 5, a “business
day” shall be any day, other than a Saturday, Sunday or any day on which banking institutions in
New York City are authorized or obligated by law or executive order to close.

6. Payment Method. All payments under this Note or the other Transaction Documents
are to be made in immediately available funds. If Holder accepts payment in any other form, such
payment shall not be deemed to have been made until the funds comprising such payment have been
actually received or made available to Holder.

7. Application of Payments. Any and all payments on account of this Note shall be
applied, first to accrued and unpaid interest, then to any unpaid fees and charges due hereunder or
under the Transaction Documents (as such term is defined in Section 9 hereof) and thereafter to
outstanding principal. The Company agrees that, to the extent it makes a payment or payments and
such payment or payments, or any part thereof, are subsequently invalidated, declared to be
fraudulent or preferential, set aside or are required to be repaid to a trustee, receiver, or any
other party under any bankruptcy act, state or federal law, common law or equitable cause, then to
the extent of such payment or payments, the obligations or part thereof hereunder intended to be
satisfied shall be revived and continued in full force and effect as if said payment or payments
had not been made.

8. Security. The full and timely payment of all principal, interest and all other
costs, fees and expenses payable under this Note, as well as the full and timely payment and
performance of all other obligations, indebtedness, liabilities and undertakings of the Company to
Holder, whether now or hereafter owing or existing, under this Note and the other Transaction
Documents (all such obligations and indebtedness and undertakings being sometimes referred to
herein collectively as the “Indebtedness”) shall be secured by the following collateral
(collectively the “Collateral”):

(a) the unlimited, unconditional surety and guaranty agreements (collectively, the
“Guaranty Agreements”) of RAIT Asset Holdings III, LLC (“RAH3”) and RAIT Asset
Holdings III Member, LLC (“RAHM3”) (collectively, the “Guarantors” and each a
“Guarantor”), which Guaranty Agreements shall guaranty payment, and not merely collection,
of all Indebtedness and the prompt performance of all of the Company’s other obligations under this
Note and all other documents executed in connection with or as security for this Note;

(b) a pledge from RAHM3 of a 100% limited liability company interest in RAH3, as evidenced by
a Subsidiary Collateral Pledge Agreement from RAHM3 in favor of Holder (the “Securities Pledge
Agreement”);

(c) a securities account agreement (the “Account Agreement”) among RAH3, Holder and
the Wilmington Trust Company of even date herewith providing for certain rights and obligations of
the parties with respect to Account 095818-000 established by RAH3 with the Wilmington Trust
Company;

(d) pledges of such additional collateral from the Company or the Guarantors as may hereafter
be mutually agreed upon; and

(e) such certificates and/or financing statements or account control agreements (the
“Collateral Documents”) as may be necessary to perfect Holder’s security interest in the
Collateral.

9. Transaction Documents. This Note is secured by and entitled to all rights and
remedies provided in all of the agreements, conditions, provisions and stipulations contained in
the documents described in the foregoing Section 8, an Exchange Agreement dated March   ,
2010 between the Company and Holder and all other documents executed or delivered in connection
herewith (this Note and such documents, as any of them may be amended from time to time, being
collectively the “Transaction Documents”).

10. Events of Default. For purposes hereof, each of the following shall constitute an
Event of Default (“Event of Default”) hereunder and under each of the Transaction
Documents:

(a) the failure of the Company to pay any amount of principal or interest on this Note, any
fees or other sums payable hereunder or any other Indebtedness on the date on which such payment is
due, whether on demand, at the stated maturity or due date thereof or by reason of any requirement
for the prepayment thereof, by acceleration or otherwise, and such failure continues unremedied for
a period of two (2) business days after Holder’s delivery of written notice to the Company of such
monetary default (such two business day period, the “Payment Cure Period”);

(b) the failure of the Company or any Guarantor to duly perform or observe any obligation,
covenant or agreement on its or their part contained herein or in any other Transaction Document
and such failure continues unremedied for a period of ten business (10) days after written notice
from Holder to the Company of the existence of such failure. Notwithstanding the foregoing, if
such failure specifically constitutes an Event of Default under some other subsection of this
Section 10 or under any of the other Transaction Documents, and is incapable of remedy or
cure, the Company shall not be entitled to any notice or grace hereunder;

(c) the adjudication of the Company or any Guarantor as a bankrupt or insolvent, or the entry
of an order for relief against the Company or any Guarantor or the entry of an order appointing a
receiver or trustee for the Company or any Guarantor or any of their property or approving a
petition seeking reorganization or other similar relief under the bankruptcy or other similar laws
of the United States or any state or any other competent jurisdiction;

(d) a proceeding under any bankruptcy, reorganization, arrangement of debt, insolvency,
readjustment of debt or receivership law is filed by or (unless dismissed within 90 days) against
the Company or any Guarantor, or the Company or any Guarantor makes an assignment for the benefit
of creditors or the Company or any Guarantor takes any action to authorize any of the foregoing;

(e) all or any material part of the Collateral or the assets of the Company or any Guarantor
are attached, seized, subjected to a writ or distress warrant, or levied upon, or come within the
possession or control of any receiver, trustee, custodian or assignee for the benefit of creditors;

(f) any representation or warranty of the Company or any Guarantor in any of the Transaction
Documents is discovered to be untrue in any material respect as of the date such representation or
warranty is made;

(g) the Company or any Guarantor voluntarily or involuntarily dissolves or is dissolved,
terminates or is terminated;

(h) the Company or any Guarantor is enjoined, restrained, or in any way prevented by the order
of any court or any administrative or regulatory agency, the effect of which order restricts the
Company or any Guarantor from conducting all or any material part of its business; or

(i) the occurrence of an event of default under any of the other Transaction Documents.

11. Remedies. Upon the occurrence of an Event of Default, Holder, at its option and
without notice to the Company, may declare immediately due and payable the entire Indebtedness,
together with interest accrued thereon at the rate specified herein to the date of payment.
Payment thereof may be enforced and recovered in whole or in part at any time by one or more of the
remedies in this Note or in the Transaction Documents, or as may be available to Holder at law or
in equity. If Holder employs counsel to enforce this Note by suit or otherwise, the Company will
reimburse Holder for all costs of suit and other expenses in connection therewith, whether or not
suit is actually instituted, together with Holder’s reasonable attorney’s fees incurred for
collection, together, to the extent permitted by applicable law, with interest on any judgment
obtained by Holder at the rate specified herein, including interest from and after the date of
execution, judicial or foreclosure sale until actual payment is made to Holder of the full amount
due to Holder.

12. Set-Off. Without limiting the rights of Holder under applicable law, Holder has
and may exercise a right of set-off, a lien against and a security interest in all property of the
Company now or at any time in Holder’s possession in any capacity whatsoever. At any time and from
time to time following the occurrence of an Event of Default, or an event which with the giving of
notice or passage of time or both would constitute an Event of Default, Holder may without notice
or demand, set-off and apply any and all sums at any time held and other indebtedness at any time
owing by Holder to or for the credit of the Company against any or all of the Indebtedness and the
Company’s obligations under the Transaction Documents.

13. Delay or Omission Not Waiver. Neither the failure nor any delay on the part of
Holder to exercise any right, remedy, power or privilege under this Note upon the occurrence of any
Event of Default or otherwise shall operate as a waiver thereof or impair any such right, remedy,
power or privilege. No waiver of any Event of Default shall affect any later Event of Default or
shall impair any rights of Holder. No single, partial or full exercise of any rights, remedies,
powers and privileges by Holder shall preclude further or other exercise thereof. No course of
dealing between Holder and the Company shall operate as or be deemed to constitute a waiver of
Holder’s rights under this Note or affect the duties or obligations of the Company.

14. Remedies Cumulative. The rights, remedies, powers and privileges provided for
herein shall not be deemed exclusive, but shall be cumulative and shall be in addition to all other
rights, remedies, powers and privileges in Holder’s favor under the other Transaction Documents, at
law or in equity.

15. Recovery of Judgments. The recovery of any judgment by Holder and/or the levy of
execution under any judgment upon any Collateral shall not affect in any manner or to any extent
the lien upon, or any security interest in, such Collateral, or any rights, remedies or powers of
Holder under this Note or any of the other Transaction Documents, but such liens, security
interests, rights, remedies and powers of Holder shall continue unimpaired as before.

16. Releases. The Company agrees that (i) Holder may release, compromise, forbear
with respect to, waive, suspend, extend or renew any of the terms of the Transaction Documents,
(ii) the Transaction Documents may be amended, supplemented or modified by Holder and the other
signatory parties and (iii) Holder may resort to any guaranty or any Collateral in such order and
manner as it may think fit, or accept the assignment, substitution, exchange or pledge of any other
collateral or guaranty in place of, or release for such consideration, or for no consideration, as
it may require, without in any way affecting the validity of the lien over or other security
interest in the remainder of any Collateral (or the priority thereof), or any rights that Holder
may have with respect to any other guaranty. Any action taken by Holder pursuant to the foregoing
shall in no way be construed as a waiver or release of any right or remedy of Holder, or of any
Event of Default, or of any liability or obligation of the Company hereunder or under any of the
Transaction Documents.

17. Transaction Documents Solely Corporate Obligations. No recourse for the payment
of any Indebtedness due under any Transaction Document, or for any claim based thereon or otherwise
in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the
Company or any Guarantor under any Transaction Document, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator, shareholder, partner,
member, manager, employee, agent, officer, trustee, director or subsidiary, as such, past, present
or future, of the Company, the Guarantors or any of their respective subsidiaries or of any
successor thereto, either directly or through the Company, the Guarantors or any of their
respective subsidiaries or of any successor thereto, whether by virtue of any constitution, statute
or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly
understood that all such liability is hereby expressly waived and released as a condition of, and
as a consideration for, the execution of the Transaction Documents, including, without limitation
this Note.

18. Conversion of Note.

(a) Subject to the restriction on ownership of the Company’s common shares of beneficial
interest (“Common Shares”) as set forth in Section 18(i), and upon compliance with the
conditions here set forth, the Holder may convert this Note, or any portion hereof which is an
integral multiple of $1,050,000, into Common Shares by surrender of this Note together with a
completed Notice of Exercise, in the form annexed hereto as Exhibit A, executed by Holder, on or
before the Maturity Date. Each conversion shall be deemed to have been effected as to this Note or
any portion thereof three Trading Days (as such term is hereinafter defined) after the date upon
which the Company shall have received a duly completed and properly executed Notice of Exercise
(each, a “Conversion Date”). A “Trading Day” shall mean a day upon which the New
York Stock Exchange is open and executing transactions in common equity securities. For purpose of
this Section 18: (i) if a Notice of Exercise is received on a day which is not a Trading Day, it
shall be deemed to have been received on the Trading Day immediately following the day of actual
receipt; and (ii) any Notice of Exercise received after 4:30 p.m., Eastern time, shall be deemed to
have been received on the Trading Day immediately following the day of actual receipt. Upon a
conversion of this Note in whole of in part, the Holder shall be entitled to receive on the
interest payment date next succeeding the applicable Conversion Date, a cash payment in respect of
(x) all interest which shall have accrued to, but excluding, the date of conversion on the portion
of this Note outstanding immediately prior to such conversion, plus (y) all interest which shall
have accrued on the unconverted portion of this Note from the Conversion Date through the end of
the quarter in question. In case this Note shall be surrendered for partial conversion, the
Company shall execute and deliver to the Holder a new Note in a principal amount equal to the
unconverted portion of this Note.

(b) No fractional shares shall be issued upon conversion of all or any portion of this Note.
The Company shall deliver cash in lieu of any fractional shares issuable in an amount equal to the
Conversion Price multiplied by the fractional share amount.

(c) The conversion rate (the “Conversion Rate”) shall be one (1) common share for each
$3.50 principal amount of this Note.

(d) If the Company issues Common Shares as a dividend or distribution on Common Shares to all
holders of Common Shares (except for a dividend or distribution pursuant to Revenue Procedure
2010-12 promulgated by the United States Internal Revenue Service), or if the Company effects a
share split or share combination, the Conversion Rate shall be adjusted based on the following
formula:

CR1 = CR0 x OS1/OS0

where

CR0 = the Conversion Rate in effect immediately prior to the adjustment relating to such event

CR1 = the new Conversion Rate in effect taking such event into account

OS0 = the number of Common Shares outstanding immediately prior to such event

OS1 = the number of Common Shares outstanding immediately after such event.

Any adjustment made pursuant to this Section 18(d) shall become effective on the date that is
immediately after (x) the date fixed for the determination of shareholders entitled to receive such
dividend or other distribution or (y) the date on which such split or combination becomes
effective, as applicable. If any dividend or distribution described in this Section 18(d) is
declared but not so paid or made, the new Conversion Rate shall be readjusted to the Conversion
Rate that would then be in effect if such dividend or distribution had not been declared.

(e) No adjustment in the Conversion Rate will be required unless the adjustment would require
an increase or decrease of a least 1% in the Conversion Rate. If the adjustment is not made
because the adjustment does not change the Conversion Rate by at least 1%, then the adjustment that
is not made will be carried forward and taken into account in any future adjustment. All required
calculations will be made to the nearest cent or 1/1000th of a share, as the case may
be. Notwithstanding the foregoing, all adjustments not previously made will have effect with
respect to any conversion of the Note.

(f) For purposes of this Section 18, the number of Common Shares at any time outstanding shall
not include shares held in the treasury of the Company nor shall it include shares issuable in
respect of scrip certificates issued in lieu of fractions of Common Shares.

(g) If the Company is a party to a consolidation, merger or binding share exchange (including,
without limitation, by way of a recapitalization, reclassification or change of Common Shares
(other than changes resulting from a subdivision or combination) or a sale, lease or transfer to a
third party of the Company’s and the Company’s subsidiaries’ consolidated assets substantially as
an entirety) pursuant to which all of the Common Shares are exchanged for cash, securities or other
property, then the Company or such successor or purchasing corporation, as the case may be, shall,
as a condition precedent to such consolidation, merger or binding share exchange or sale, lease or
transfer, execute and deliver to the Holder a new Note providing that, from and after the effective
date of the transaction, any conversion of this Note will be based on, and determined by reference
to the, the kind and amount of cash, securities or other property that the Holder would have
received if the Holder had converted its Note into Common Shares immediately prior to the effective
date of the transaction. For purposes of this Section 18(g), where a consolidation, merger or
binding share exchange involves a transaction that causes Common Shares to be exchanged for the
right to receive more than a single type of consideration based upon any form of shareholder
election, such consideration will be deemed to be the weighted average of the types and amounts of
consideration received by the holders of Common Shares that affirmatively make such an election.

(h) The Company shall provide, free from preemptive rights, out of its authorized but unissued
shares or shares held in treasury, sufficient Common Shares to provide for the conversion of this
Note as required hereby.

(i) Notwithstanding any other provision of this Note, the Holder shall not be entitled to
receive Common Shares upon a conversion of this Note to the extent that receipt of such shares
would cause the Holder (together with the Holder’s affiliates) to exceed the ownership limit
contained in the Company’s Amended and Restated Declaration of Trust.

(j) All calculations with respect to this Section 18 shall be the obligation of the Company.
Any such calculation shall be final and binding on the Holder absent manifest error.

19.  Submission to Jurisdiction. THE COMPANY HEREBY IRREVOCABLY SUBMITS TO THE
NON-EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH
OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR WITH ANY
TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN, AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT
TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE
JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT
FORUM OR THAT THE VENUE OF SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER. THE COMPANY HEREBY
IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH
SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF TO IT AT THE ADDRESS FOR SUCH NOTICES TO IT
UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF
PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT
TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW.

20. Waivers. In connection with any proceedings under the Transaction Documents or in
connection with any Indebtedness, including without limitation any action by Holder in replevin,
foreclosure or other court process or in connection with any other action related to the
Transaction Documents or the Indebtedness, the Company hereby waives and releases:

	 	(a)	 	all errors, defects and imperfections in such proceedings;

(b) all benefits under any present or future laws exempting any property, real or personal, or
any part of any proceeds thereof from attachment, levy or sale under execution, or providing for
any stay of execution to be issued on any judgment recovered under any of the Transaction Documents
or in any replevin or foreclosure proceeding, or otherwise providing for any valuation, appraisal
or exemption;

(c) all rights to inquisition on any real estate, which real estate may be levied upon
pursuant to a judgment obtained under any of the Transaction Documents and sold upon any writ of
execution issued thereon in whole or in part, in any order desired by Holder;

(d) presentment for payment, demand, notice of demand, notice of nonpayment or dishonor or
acceleration, protest and notice of protest of any of the Transaction Documents, including this
Note, and all other notices in connection with the delivery, acceptance, performance, default or
enforcement of the payment of this Note or any other Indebtedness;

(e) any requirement for bonds, security or sureties required by statute, court rule or
otherwise;

(f) any demand for possession of any collateral prior to commencement of any suit;

(g) all rights to claim or recover attorney’s fees and costs in the event that Holder is
successful in any action to remove, suspend or enforce a judgment entered by confession; and

(h) any right to subrogation, reimbursement, contribution or indemnity from any co-the Company
in connection with any Indebtedness.

21. Communications and Notices. All notices, consents, approvals and requests
required or permitted hereunder and under each of the other Transaction Documents (a
“Notice”) shall be given in writing and shall be effective for all purposes if (i) hand
delivered, or (ii) sent by (A) certified or registered United States mail, postage prepaid,
(B) expedited prepaid delivery service, either commercial or United States Postal Service, with
proof of attempted delivery, or (C) telecopier (confirmed electronically), in any case addressed as
follows (or to such other address or person as a party shall designate from time to time by notice
to the other party):

To the Company:

RAIT Financial Trust

Cira Center

2929 Arch Street

Philadelphia, PA 19104

Attention: Jack Salmon

Telecopy Number: (215) 243-9039

To Holder:

United Equities Commodities Company

c/o Mr. Moses Marx

160 Broadway

New York, NY 10038

Telecopy Number: (212) 227-3208

A Notice shall be deemed to have been given: in the case of hand delivery, at the time of
delivery; in the case of registered or certified mail, when delivered or the first attempted
delivery on a business day; in the case of expedited prepaid delivery, upon the first attempted
delivery on a business day; or in the case of telecopier, on the date confirmed electronically.

22. Severability. The provisions of this Note and all other Transaction Documents are
deemed to be severable, and the invalidity or unenforceability of any provision shall not affect or
impair the remaining provisions which shall continue in full force and effect.

23. Limitation of Interest to Maximum Lawful Rate. In no event shall the rate of
interest payable hereunder exceed the maximum rate of interest permitted to be charged by
applicable law (including the choice of law rules) and any interest paid in excess of the permitted
rate shall be refunded to the Company. Such refund shall be made by application of the excessive
amount of interest paid against any sums outstanding and shall be applied in such order as Holder
may determine. If the excessive amount of interest paid exceeds the sums outstanding, the portion
exceeding the said sums outstanding shall be refunded in cash by Holder. Any such crediting or
refund shall not cure or waive any default by the Company hereunder. The Company agrees, however,
that in determining whether or not any interest payable under this Note exceeds the highest rate
permitted by law, any non-principal payment, including, without limitation, any late charges, loan
fees and expenses, are and shall be deemed to the extent permitted by law to be late charges, loan
fees or expenses, as applicable, and not interest.

24. Law Governing. This Note has been made, executed and delivered in the State of
New York and will be construed in accordance with and governed by the laws thereof.

25. Headings. The headings of the sections, paragraphs and clauses of this Note are
inserted for convenience only and shall not be deemed to constitute a part of this Note.

26. Construction. Whenever used, the singular number shall include the plural, the
plural the singular and the use of any gender shall be applicable to all genders. The words
“Holder” and the “Company” shall be deemed to include the respective successors and assigns of
Holder and the Company. All exhibits attached hereto are made a part of this Note.

27. Assignment or Sale by Holder. Holder may sell, assign or grant participations in
all or a portion of its interest in this Note and/or any of the Transaction Documents (the
“Note Interest”) and, in connection therewith, may make available to any prospective
purchaser, assignee or participant any information relative to the Company and/or the Guarantors in
his possession; provided, however, that no Note Interest may be sold or assigned to, or
participated in by, any person which is not an “accredited investor” as defined in Rule 501(a)
under the Securities Act of 1933, as amended (the “Securities Act”), a “qualified
institutional buyer” as defined in Rule 144A under the Securities Act and a “qualified purchaser”
as defined in the Investment Company Act of 1940, as amended, and without otherwise complying with
the indentures, agreements and other documents pursuant to which the Collateral was issued unless
this Note is no longer secured by any of the Collateral. Notwithstanding the foregoing, Holder, or
any purchaser, assignor or participant who proposes to further sell, assign or grant a
participation in a Note Interest, shall notify the Company (the “ROFR Notice”) of the
proposed transaction (the ROFR Transaction”) not less than thirty (30) days (the “ROFR
Period”) prior to the proposed ROFR Transaction, including the name and address of the proposed
purchaser, assignor or participant and the terms of the ROFR Transaction. On or before the end of
the ROFR Period, the Company shall have the option, but not the obligation, to purchase all (but
not less than all) of the Note Interest proposed to be sold by Seller upon the terms of the ROFR
Transaction set forth in the ROFR Notice. If the Company shall elect to exercise its rights
hereunder, it shall notify Seller in writing (the “Company Notice”) on or before the end of
the ROFR Period. If Seller shall not have received the Company ROFR Notice on or before the end of
the ROFR Period, the Company shall be deemed to have waived its rights with respect to the ROFR
Transaction. The Company and Seller shall consummate the sale and purchase of the Note Interest
pursuant to the terms of the ROFR Transaction set forth in the ROFR Notice not later than five (5)
business days following receipt by Seller of the Company Notice, or at such later time as may be
provided pursuant to the ROFR Transaction.

28. No Assignment by the Company. The Company may not assign any of its rights
hereunder without the prior written consent of Holder.

29. Binding Effect. This Note and all rights and powers granted hereby will bind and
inure to the benefit of the parties hereto and their respective permitted successors and assigns.

30. No Third Party Beneficiaries. The rights and benefits of this Note and the
Transaction Documents shall not inure to the benefit of any third party.

31. Modifications. No modification of this Note or any of the Transaction Documents
shall be binding or enforceable unless in writing and signed by or on behalf of the party against
whom enforcement is sought.

32. Integration. The Transaction Documents shall be construed as integrated and
complementary of each other, and as augmenting and not restricting Holder’s rights, powers,
remedies and security. The Transaction Documents contain the entire understanding of the parties
thereto with respect to the matters contained therein and supersede all prior agreements and
understandings between the parties with respect to the subject matter thereof and do not require
parol or extrinsic evidence in order to reflect the intent of the parties. In the event of any
inconsistency between the terms of this Note and the terms of the other Transaction Documents, the
terms of this Note shall prevail.

33. Counterparts. This Note may be executed in any number of counterparts, all of
which taken together shall constitute one and the same instrument, and any of the parties hereto
may execute this Note by signing any such counterpart.

34. Holidays. If the day provided herein for the payment of any amount or the taking
of any action falls on a Saturday, Sunday or public holiday at the place of payment or action, then
the due date for such payment or action will be the next succeeding business day. For the purposes
of this Section, the term “holiday” shall mean a day other than a Saturday or Sunday on
which banks in the State of New York are or may elect to be closed.

35. JURY TRIAL WAIVER. THE COMPANY AND HOLDER WAIVE ANY RIGHT TO TRIAL BY JURY ON ANY
CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (a) ARISING UNDER ANY OF THE TRANSACTION DOCUMENTS OR (b)
IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE COMPANY OR HOLDER WITH
RESPECT TO ANY OF THE TRANSACTION DOCUMENTS OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH
CASE WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE. THE COMPANY AND HOLDER AGREE AND CONSENT
THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A
JURY, AND THAT ANY PARTY TO THE TRANSACTION DOCUMENTS MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF
THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE COMPANY AND HOLDER TO THE
WAIVER OF THEIR RIGHT TO TRIAL BY JURY. EACH OF THE COMPANY AND HOLDER ACKNOWLEDGES THAT IT HAS
HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL REGARDING THIS SECTION, THAT IT FULLY UNDERSTANDS ITS
TERMS, CONTENT AND EFFECT, AND THAT IT VOLUNTARILY AND KNOWINGLY AGREES TO THE TERMS OF THIS
SECTION.

1

IN WITNESS WHEREOF, the Company, intending to be legally bound hereby, has caused this Note to
be duly executed the day and year first above written.

RAIT FINANCIAL TRUST

a Maryland real estate investment trust

By: /s/ Jack Salmon

Name: Jack Salmon

Title: Chief Financial Officer

EXHIBIT A

NOTICE OF CONVERSION

TO: RAIT FINANCIAL TRUST

The undersigned payee of the 10% Senior Secured Convertible Note due April 20, 2014 (the
“Note”) issued by RAIT Financial Trust (“RAIT”) hereby irrevocably exercises the
option to convert the Note, or the portion thereof (which is $1,050,000 or an integral multiple
thereof) below designated, into common shares of beneficial interest (the “Common Shares”)
of RAIT in accordance with the terms of the Note, and directs that the Common Shares issuable and
deliverable upon such conversion, together with any check in payment for fractional shares and note
representing any unconverted principal amount of the Note, be issued and delivered to the
undersigned payee.

The undersigned acknowledges and agrees that, under the Amended and Restated Declaration of
Trust of RAIT, no person may own more than 8.3% of RAIT’s outstanding Common Shares, and, in
connection therewith, represents and warrants to RAIT that (i) following the conversion referred to
in this notice, the undersigned, together with any other person which is part of a “group” (as that
term is used for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended)
with the undersigned will not own individually or collectively in excess of 8.3% of RAIT’s
outstanding Common Shares, and (ii) that the undersigned, together with any other person which is
part of a group with the undersigned collectively own on the date hereof        Common Shares of
RAIT.

	 	 	 
	Dated:       
	 	Principal Amount to be

Converted: $     

UNITED EQUITIES COMMODITIES COMPANY

By:       

Name:

Title:

2EX-10.1

INDEMNIFICATION AGREEMENT

THIS INDEMNIFICATION AGREEMENT, dated as of       ,       , is made and entered into by and
between TECHNISCAN, INC., a Delaware corporation (the “Company”), and [      ] (the
"Indemnitee”).

R E C I T A L S:

WHEREAS, the Company and Indemnitee recognize the increasing difficulty in obtaining
liability insurance for directors and officers, the significant increases in the cost of such
insurance and the general reductions in the coverage of such insurance;

WHEREAS, the Company and Indemnitee further recognize the substantial increase in
corporate litigation in general, subjecting directors and officers to expensive litigation risks at
the same time as the availability and coverage of liability insurance has been severely limited;

WHEREAS, Indemnitee does not regard the current protection available as adequate
under the present circumstances, and Indemnitee may not be willing to continue to serve as an
officer or director of the Company without additional protection;

WHEREAS, the Company’s Certificate of Incorporation require the Company to indemnify
its directors and officers to the fullest extent permitted by the Delaware General Company Law (the
"DGCL”);

WHEREAS, the Certificate of Incorporation expressly provides that the
indemnification provisions set forth therein are not exclusive, and contemplate that contracts may
be entered into between the Company and its directors and officers with respect to indemnification;

WHEREAS, the Company desires and has requested Indemnitee to serve or continue to
serve as a director or officer of the Company free from undue concern for unwarranted claims for
damages arising out of or related to such services to the Company; and

WHEREAS, Indemnitee is willing to serve, continue to serve or to provide additional
service for or on behalf of the Company on the condition that he is furnished the indemnity
provided for herein.

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, and
other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged,
the parties hereto, intending to be legally bound, hereby agree as follows:

	 
	Section 1.Generally.

	 

	To the fullest extent permitted by the laws of the State of Delaware:

(a) The Company shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to
be made a party to any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the fact that Indemnitee is or was or has
agreed to serve at the request of the Company as a director, consultant, or officer of the Company,
or while serving as a director or officer of the Company, is or was serving or has agreed to serve
at the request of the Company as a director, officer, employee or agent (which, for purposes
hereof, shall include a trustee, partner or manager or similar capacity) of another corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of any
action alleged to have been taken or omitted in such capacity.

(b) The indemnification provided by this Section 1 shall be from and against expenses
(including attorneys’ fees), judgments, fines and amounts paid in settlement actually and
reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such action, suit or
proceeding and any appeal therefrom, but shall only be provided if Indemnitee acted in good faith
and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the
Company, and, with respect to any criminal action, suit or proceeding, had no reasonable cause to
believe Indemnitee’s conduct was unlawful.

(c) Notwithstanding the foregoing provisions of this Section 1, in the case of any threatened,
pending or completed action or suit by or in the right of the Company to procure a judgment in its
favor by reason of the fact that Indemnitee is or was a director, consultant, or officer of the
Company, or while serving as a director or officer of the Company, is or was serving or has agreed
to serve at the request of the Company as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, no
indemnification shall be made in respect of any claim, issue or matter as to which Indemnitee shall
have been adjudged to be liable to the Company unless, and only to the extent that, the Delaware
Court of Chancery or the court in which such action or suit was brought shall determine upon
application that, despite the adjudication of liability but in view of all the circumstances of the
case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which the
Delaware Court of Chancery or such other court shall deem proper.

(d) The termination of any action, suit or proceeding by judgment, order, settlement,
conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a
presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably
believed to be in or not opposed to the best interests of the Company, and, with respect to any
criminal action or proceeding, had reasonable cause to believe that Indemnitee’s conduct was
unlawful.

Section 2. Successful Defense; Partial Indemnification.

(a) To the extent that Indemnitee has been successful on the merits or otherwise in defense
of any action, suit or proceeding referred to in Section 1 hereof or in defense of any claim,
issue or matter therein, Indemnitee shall be indemnified against expenses (including attorneys’
fees) actually and reasonably incurred in connection therewith. For purposes of this Agreement and
without limiting the foregoing, if any action, suit or proceeding is disposed of, on the merits or
otherwise (including a disposition without prejudice), without (i) the disposition being adverse
to Indemnitee, (ii) an adjudication that Indemnitee was liable to the Company, (iii) a plea of
guilty or nolo contendere by Indemnitee, (iv) an adjudication that Indemnitee did not act in good
faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests
of the Company, and (v) with respect to any criminal proceeding, an adjudication that Indemnitee
had reasonable cause to believe Indemnitee’s conduct was unlawful, Indemnitee shall be considered
for the purposes hereof to have been wholly successful with respect thereto.

(b) If Indemnitee is entitled under any provision of this Agreement to indemnification by the
Company for some or a portion of the expenses (including attorneys’ fees), judgments, fines or
amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection with any action, suit, proceeding or investigation, or in defense of any
claim, issue or matter therein, and any appeal therefrom but not, however, for the total amount
thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such expenses
(including attorneys’ fees), judgments, fines or amounts paid in settlement to which Indemnitee is
entitled.

Section 3. Advance Payment of Expenses; Notification and Defense of Claim.

(a) Expenses (including attorneys’ fees) incurred by Indemnitee in defending a threatened or
pending civil, criminal, administrative or investigative action, suit or proceeding, or in
connection with an enforcement action pursuant to Section 4(b), shall be paid by the Company in
advance of the final disposition of such action, suit or proceeding. The Company shall pay the
expenses (including attorneys’ fees) incurred by an indemnitee in defending any proceeding in
advance of its final disposition provided that the Indemnitee acted in good faith and in a
manner the Indemnitee reasonably believed to be not opposed to the best interests of the Company or
had no reasonable cause to believe the Indemnitee’s conduct was unlawful. The initial
determination of whether any advance of expenses under this Section 3(a) is permissible shall be
made, at the election of the Indemnitee, (i) by a majority vote of the disinterested directors not
parties to such proceeding, even though less than a quorum, or (ii) by a committee of such
directors designated by a majority vote of such directors, even though less than a quorum, or
(iii) by independent legal counsel selected by Indemnitee with reasonable approval of a majority of
the disinterested directors not parties to such proceeding or an officer duly authorized by the
Board of Directors (such approval to be limited to such legal counsel’s independence), or (iv) by
the stockholders. The reasonable fees and expenses of any special legal counsel engaged to
determine the permissibility of advance of expenses shall be borne by the Company. The payment of
expenses incurred by an Indemnitee in advance of the final disposition of the proceeding shall be
made only upon receipt of an undertaking from such Indemnitee to repay all amounts advanced if it
should be ultimately determined that the Indemnitee is not entitled to be indemnified under this
Section 3(a) or otherwise. Expenses authorized under this Section 3(a) shall be paid within thirty
(30) days after receipt by the Company of (i) a statement or statements from Indemnitee requesting
such advance or advances from time to time, and (ii) an undertaking by or on behalf of Indemnitee
to repay such amount or amounts, only if, and to the extent that, it shall ultimately be determined
that Indemnitee is not entitled to be indemnified by the Company as authorized by this Agreement or
otherwise. Such undertaking shall be accepted without reference to the financial ability of
Indemnitee to make such repayment. Advances shall be unsecured and interest-free.

(b) Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or
proceeding, Indemnitee shall, if a claim thereof is to be made against the Company hereunder,
notify the Company of the commencement thereof. The failure to promptly notify the Company of the
commencement of the action, suit or proceeding, or Indemnitee’s request for indemnification, will
not relieve the Company from any liability that it may have to Indemnitee hereunder, except to the
extent the Company is prejudiced in its defense of such action, suit or proceeding as a result of
such failure. In addition, Indemnitee shall give the Company such information and cooperation as
it may reasonably require and as shall be within Indemnitee’s power.

(c) In the event the Company shall be obligated to pay the expenses of Indemnitee with respect
to an action, suit or proceeding, as provided in this Agreement, the Company, if appropriate, shall
be entitled to assume the defense of such action, suit or proceeding, with counsel reasonably
acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election to do
so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of
such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for
any fees of counsel subsequently incurred by Indemnitee with respect to the same action, suit or
proceeding, provided that (1) Indemnitee shall have the right to employ Indemnitee’s own counsel in
such action, suit or proceeding at Indemnitee’s expense and (2) if (i) the employment of counsel by
Indemnitee has been previously authorized in writing by the Company, (ii) counsel to the Company or
Indemnitee shall have reasonably concluded that there may be a conflict of interest or position, or
reasonably believes that a conflict is likely to arise, on any significant issue between the
Company and Indemnitee in the conduct of any such defense or (iii) the Company shall not, in fact,
have employed counsel to assume the defense of such action, suit or proceeding, then the fees and
expenses of Indemnitee’s counsel shall be at the expense of the Company, except as otherwise
expressly provided by this Agreement.

(d) Notwithstanding any other provision of this Agreement to the contrary, to the extent that
Indemnitee is, by reason of Indemnitee’s corporate status with respect to the Company or any
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which
Indemnitee is or was serving or has agreed to serve at the request of the Company, a witness or
otherwise participates in any action, suit or proceeding at a time when Indemnitee is not a party
in the action, suit or proceeding, the Company shall indemnify Indemnitee against all expenses
(including attorneys’ fees) actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection therewith.

Section 4. Procedure for Indemnification

(a) To obtain indemnification, Indemnitee shall promptly submit to the Company a written
request, including therein or therewith such documentation and information as is reasonably
available to Indemnitee and is reasonably necessary to determine whether and to what extent
Indemnitee is entitled to indemnification. The Company shall, promptly upon receipt of such a
request for indemnification, advise the Board of Directors in writing that Indemnitee has requested
indemnification.

(b) The Company’s determination whether to grant Indemnitee’s indemnification request shall be
made promptly, and in any event within 30 days following receipt of a request for indemnification
pursuant to Section 4(a). The right to indemnification as granted by Section 1 of this Agreement
shall be enforceable by Indemnitee in any court of competent jurisdiction if the Company denies
such request, in whole or in part, or fails to respond within such 30-day period. It shall be a
defense to any such action (other than an action brought to enforce a claim for the advance of
costs, charges and expenses under Section 3 hereof where the required undertaking, if any, has been
received by the Company) that Indemnitee has not met the standard of conduct set forth in Section 1
hereof, but the burden of proving such defense by clear and convincing evidence shall be on the
Company. Neither the failure of the Company (including its Board of Directors or one of its
committees, its independent legal counsel, and its stockholders) to have made a determination prior
to the commencement of such action that indemnification of Indemnitee is proper in the
circumstances because Indemnitee has met the applicable standard of conduct set forth in Section 1
hereof, nor the fact that there has been an actual determination by the Company (including its
Board of Directors or one of its committees, its independent legal counsel, and its stockholders)
that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action
or create a presumption that Indemnitee has or has not met the applicable standard of conduct. The
Indemnitee’s expenses (including attorneys’ fees) incurred in connection with successfully
establishing Indemnitee’s right to indemnification, in whole or in part, in any such proceeding or
otherwise shall also be indemnified by the Company.

(c) The Indemnitee shall be presumed to be entitled to indemnification under this Agreement
upon submission of a request for indemnification pursuant to this Section 4, and the Company shall
have the burden of proof in overcoming that presumption in reaching a determination contrary to
that presumption. Such presumption shall be used as a basis for a determination of entitlement to
indemnification unless the Company overcomes such presumption by clear and convincing evidence.

Section 5. Insurance and Subrogation.

(a) The Company may purchase and maintain insurance on behalf of Indemnitee who is or was or
has agreed to serve at the request of the Company as a director or officer of the Company, or is or
was serving at the request of the Company as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise against
any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf in any such
capacity, or arising out of Indemnitee’s status as such, whether or not the Company would have the
power to indemnify Indemnitee against such liability under the provisions of this Agreement. If the
Company has such insurance in effect at the time the Company receives from Indemnitee any notice of
the commencement of a proceeding, the Company shall give prompt notice of the commencement of such
proceeding to the insurers in accordance with the procedures set forth in the policy. The Company
shall thereafter take all reasonably necessary or desirable action to cause such insurers to pay,
on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with
the terms of such policy.

(b) 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 rights of recovery of Indemnitee with
respect to any insurance policy, who shall execute all papers required and take all action
necessary to secure such rights, including execution of such documents as are necessary to enable
the Company to bring suit to enforce such rights in accordance with the terms of such insurance
policy. The Company shall pay or reimburse all expenses actually and reasonably incurred by
Indemnitee in connection with such subrogation.

(c) The Company shall not be liable under this Agreement to make any payment of amounts
otherwise indemnifiable hereunder (including, but not limited to, judgments, fines, ERISA excise
taxes or penalties, and amounts paid in settlement) if and to the extent that Indemnitee has
otherwise actually received such payment under this Agreement or any insurance policy, contract,
agreement or otherwise.

Section 6. Certain Definitions. For purposes of this Agreement, the following
definitions shall apply:

(a) The term “action, suit or proceeding” shall be broadly construed and shall include,
without limitation, the investigation, preparation, prosecution, defense, settlement, arbitration
and appeal of, and the giving of testimony in, any threatened, pending or completed claim, action,
suit or proceeding, whether civil, criminal, administrative or investigative.

(b) The term “by reason of the fact that Indemnitee is or was a director, consultant, or
officer of the Company, or while serving as a director or officer of the Company, is or was serving
or has agreed to serve at the request of the Company as a director, consultant, officer, employee
or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise” shall be broadly construed and shall include, without limitation, any actual or alleged
act or omission to act.

(c) The term “expenses” shall be broadly and reasonably construed and shall include, without
limitation, all direct and indirect costs of any type or nature whatsoever (including, without
limitation, all attorneys’ fees and related disbursements, appeal bonds, other out-of-pocket costs
and reasonable compensation for time spent by Indemnitee for which Indemnitee is not otherwise
compensated by the Company or any third party, provided that the rate of compensation and estimated
time involved is approved by the Board, which approval shall not be unreasonably withheld),
actually and reasonably incurred by Indemnitee in connection with either the investigation, defense
or appeal of a proceeding or establishing or enforcing a right to indemnification under this
Agreement, Section 145 of the DGCL or otherwise.

(d) The term “Indemnitee” shall include the Indemnitee’s spouse.

(e) The term “judgments, fines and amounts paid in settlement” shall be broadly construed and
shall include, without limitation, all direct and indirect payments of any type or nature
whatsoever (including, without limitation, all penalties and amounts required to be forfeited or
reimbursed to the Company), as well as any penalties or excise taxes assessed on a person with
respect to an employee benefit plan).

(f) The term “Company” shall include, without limitation and in addition to the resulting
corporation, any constituent corporation (including any constituent of a constituent) absorbed in a
consolidation or merger which, if its separate existence had continued, would have had power and
authority to indemnify its directors, officers, and employees or agents, so that any person who is
or was a director, officer, employee or agent of such constituent corporation, or is or was serving
at the request of such constituent corporation as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, shall
stand in the same position under the provisions of this Agreement with respect to the resulting or
surviving corporation as he or she would have with respect to such constituent corporation if its
separate existence had continued.

(g) The term “other enterprises” shall include, without limitation, employee benefit plans.

(h) The term “serving at the request of the Company” shall include, without limitation, any
service as a director, officer, employee or agent of the Company which imposes duties on, or
involves services by, such director, officer, employee or agent with respect to an employee benefit
plan, its participants or beneficiaries.

(i) A person who acted in good faith and in a manner such person reasonably believed to be in
the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to
have acted in a manner “not opposed to the best interests of the Company” as referred to in this
Agreement.

Section 7. Limitation on Indemnification. Notwithstanding any other provision herein
to the contrary, the Company shall not be obligated pursuant to this Agreement:

(a) Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee
with respect to an action, suit or proceeding (or part thereof) initiated by Indemnitee, except
with respect to an action, suit or proceeding brought to establish or enforce a right to
indemnification (which shall be governed by the provisions of Section 7(b) of this Agreement),
unless such action, suit or proceeding (or part thereof) was authorized or consented to by the
Board of Directors of the Company.

(b) Action for Indemnification. To indemnify Indemnitee for any expenses incurred by
Indemnitee with respect to any action, suit or proceeding instituted by Indemnitee to enforce or
interpret this Agreement, unless Indemnitee is successful in establishing Indemnitee’s right to
indemnification in such action, suit or proceeding, in whole or in part, or unless and to the
extent that the court in such action, suit or proceeding shall determine that, despite Indemnitee’s
failure to establish their right to indemnification, Indemnitee is entitled to indemnity for such
expenses; provided, however, that nothing in this Section 7(b) is intended to limit the Company’s
obligation with respect to the advancement of expenses to Indemnitee in connection with any such
action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, as
provided in Section 3 hereof.

(c) Section 16 Violations. To indemnify Indemnitee for expenses or the payment of
profits arising from the purchase and sale by Indemnitee of securities in violation of Section
16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute.

(d) Non-compete and Non-disclosure. To indemnify Indemnitee in connection with
proceedings or claims involving the enforcement of non-compete and/or non-disclosure agreements or
the non-compete and/or non-disclosure provisions of employment, consulting or similar agreements
the Indemnitee may be a party to with the Company, or any subsidiary of the Company or any other
applicable foreign or domestic corporation, partnership, joint venture, trust or other enterprise,
if any.

(e) Unlawful Indemnification. To indemnify the Indemnitee if a final decision by a
court having jurisdiction in the matter shall determine that such indemnification is prohibited by
law. Both the Company and Indemnitee acknowledge that in certain instances, Federal law or public
policy may override applicable state law and prohibit the Company from indemnifying its directors
and officers under this Agreement or otherwise. For example, the Company and Indemnitee
acknowledge that the Securities and Exchange Commission (the “SEC”) has taken the position
that indemnification is not permissible for liabilities arising under certain federal securities
laws, and federal legislation prohibits indemnification for certain ERISA violations. Indemnitee
understands and acknowledges that the Company has undertaken or may be required in the future to
undertake with the SEC to submit the question of indemnification to a court in certain
circumstances for a determination of the Company’s right under public policy to indemnify
Indemnitee.

Section 8. Certain Settlement Provisions. The Company shall have no obligation to
indemnify Indemnitee under this Agreement for amounts paid in settlement of any action, suit or
proceeding without the Company’s prior written consent, which shall not be unreasonably withheld.

Section 9. Savings Clause. If any provision or provisions of this Agreement shall be
invalidated on any ground by any court of competent jurisdiction, then the Company shall
nevertheless indemnify Indemnitee as to costs, charges and expenses (including attorneys’ fees),
judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding,
whether civil, criminal, administrative or investigative, including an action by or in the right of
the Company, to the full extent permitted by any applicable portion of this Agreement that shall
not have been invalidated and to the full extent permitted by applicable law.

Section 10. Contribution. In order to provide for just and equitable contribution in
circumstances in which the indemnification provided for herein is held by a court of competent
jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event,
the Company shall, to the fullest extent permitted by law, contribute to the payment of
Indemnitee’s costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts
paid in settlement with respect to any action, suit or proceeding, whether civil, criminal,
administrative or investigative, in an amount that is just and equitable in the circumstances,
taking into account, among other things, contributions by other directors and officers of the
Company or others pursuant to indemnification agreements or otherwise; provided, that, without
limiting the generality of the foregoing, such contribution shall not be required where such
holding by the court is due to (a) the failure of Indemnitee to meet the standard of conduct set
forth in Section 1 hereof, or (b) any limitation on indemnification set forth in Section 5(c), 7 or
8 hereof.

Section 11. Form and Delivery of Communications. Any notice, request or other
communication required or permitted to be given to the parties under this Agreement shall be in
writing and either delivered in person or sent by telecopy, telex, telegram, overnight mail or
courier service, or certified or registered mail, return receipt requested, postage prepaid, to
the parties at the following addresses (or at such other addresses for a party as shall be
specified by like notice):

If to the Company:

TechniScan, Inc.

3216 South Highland Drive, Suite 200

Salt Lake City, UT 841065

Attn: David C. Robinson

Facsimile: (801) 747-1099

Email: drobinson@techniscanmedical.com

With a copy to:

Greenberg Traurig, P.A.

5100 Town Center Circle, Suite 400

Boca Raton, FL 33486

Attn: Jeffery A. Bahnsen, Esq.

Facsimile: (561) 367-6250

Email: Bahnsenj@gtlaw.com

If to Indemnitee:

At the address set forth below Indemnitee’s signature hereto

Section 12. Subsequent Legislation. If the DGCL is amended after adoption of this
Agreement to expand further the indemnification permitted to directors or officers, then the
Company shall indemnify Indemnitee to the fullest extent permitted by the DGCL, as so amended.

Section 13. Nonexclusivity. The provisions for indemnification and advancement of
expenses set forth in this Agreement shall not be deemed exclusive of any other rights which
Indemnitee may have under any provision of law, the Company’s Certificate of Incorporation or
Bylaws, in any court in which a proceeding is brought, the vote of the Company’s stockholders or
disinterested directors, other agreements or otherwise, and Indemnitee’s rights hereunder shall
continue as to Indemnitee for any action taken or not taken while serving in an indemnified
capacity even though he or she may have ceased to serve in any such capacity at the time of any
action, suit or other covered proceeding. However, no amendment or alteration of the Company’s
Certificate of Incorporation or Bylaws or any other agreement shall adversely affect the rights
provided to Indemnitee under this Agreement

Section 14. Enforcement. The Company shall be precluded from asserting in any
judicial proceeding that the procedures and presumptions of this Agreement are not valid, binding
and enforceable. The Company agrees that its execution of this Agreement shall constitute a
stipulation by which it shall be irrevocably bound in any court of competent jurisdiction in which
a proceeding by Indemnitee for enforcement of his rights hereunder shall have been commenced,
continued or appealed, that its obligations set forth in this Agreement are unique and special, and
that failure of the Company to comply with the provisions of this Agreement will cause irreparable
and irremediable injury to Indemnitee, for which a remedy at law will be inadequate. As a result,
in addition to any other right or remedy Indemnitee may have at law or in equity with respect to
breach of this Agreement, Indemnitee shall be entitled to injunctive or mandatory relief directing
specific performance by the Company of its obligations under this Agreement.

Section 15. Interpretation of Agreement. It is understood that the parties hereto
intend this Agreement to be interpreted and enforced so as to provide indemnification to Indemnitee
to the fullest extent now or hereafter permitted by law.

Section 16. Entire Agreement. This Agreement and the documents expressly referred to
herein constitute the entire agreement between the parties hereto with respect to the matters
covered hereby, and any other prior or contemporaneous oral or written understandings or agreements
with respect to the matters covered hereby are expressly superseded by this Agreement.

Section 17. 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 such waiver constitute a continuing waiver.

Section 18. Successor and Assigns. All of the terms and provisions of this Agreement
shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto
and their respective successors, spouses, assigns, heirs, executors, administrators and legal
representatives.

Section 19. Consent to Jurisdiction. The Company and the Indemnitee each hereby
irrevocably consent to the jurisdiction of the courts of the State of Delaware for all purposes in
connection with any action or proceeding which arises out of or relates to this Agreement.

Section 20. Governing Law. This Agreement shall be governed exclusively by and
construed according to the laws of the State of Delaware, without giving effect to principles of
conflict of law.

Section 21. Employment Rights. Nothing in this Agreement is intended to create in
Indemnitee any right to employment or continued employment.

Section 22. Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall be deemed to be an original and all of which together shall be deemed to be one
and the same instrument, notwithstanding that both parties are not signatories to the original or
same counterpart.

Section 23. Headings. The section and subsection headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or interpretation of
this Agreement.

IN WITNESS WHEREOF, this Indemnification Agreement has been duly executed and delivered to be
effective as of the date first above written.

TECHNISCAN, INC.,

a Delaware corporation

By       

Name:

Title:

INDEMNITEE:

Sign:      

Name:

Address:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}]]