Document:

EX-4.1

 Exhibit 4.1 

[Form of Note] 
 (FACE OF NOTE)

 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF CDS CLEARING AND DEPOSITORY SERVICES INC. (“CDS”) TO AT&T INC.
OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IN RESPECT THEREOF IS REGISTERED IN THE NAME OF CDS & CO., OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CDS (AND ANY
PAYMENT IS MADE TO CDS & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CDS), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED HOLDER
HEREOF, CDS & CO., HAS A PROPERTY INTEREST IN THE SECURITIES REPRESENTED BY THIS CERTIFICATE HEREIN AND IT IS A VIOLATION OF ITS RIGHTS FOR ANOTHER PERSON TO HOLD, TRANSFER OR DEAL WITH THIS CERTIFICATE. 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A
DEPOSITORY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM IN ACCORDANCE WITH THE PROVISIONS OF THE INDENTURE AND THE TERMS OF THE SECURITIES, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY
THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. 

AT&T INC. 
 3.825%
Global Notes due 2020 
 ISIN NO. [—] 

CUSIP NO. [—] 

No. I-[—] 

AT&T Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called “AT&T”, which
term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CDS & CO. (the “Nominee”), or registered assigns, the principal sum of Canadian dollars appearing on
the attached Schedule of Increases and Decreases on November 25, 2020 (the “Maturity Date”), and to pay interest on said principal sum from November 25, 2013 or from the most recent Interest Payment Date to which interest has
been paid or duly provided for, annually in arrears on 

 
November 25 and May 25 of each year, commencing on May 25, 2014 (each an “Interest Payment Date”) and on the Maturity Date, at the interest rate of 3.825% per annum,
until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note (or
one or more Predecessor Notes) is registered at the close of business on the Regular Record Dates for such interest, which shall be the close of business on the November 15 and May 15 (the “Regular Record Dates”) next preceding
such respective Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Dates and may either be paid to the Person in whose name this Note (or one
or more Predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes not less than 15 days prior to such
Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture. 
 Any money that AT&T deposits with the Trustee or any Paying Agent for the payment of principal or any
interest on this Note that remains unclaimed for two years after the date upon which the principal and interest are due and payable, will be repaid to AT&T upon AT&T’s request unless otherwise required by mandatory provisions of any
applicable unclaimed property law. After that time, unless otherwise required by mandatory provisions of any unclaimed property law, the Holder of this Note will be able to seek any payment to which such Holder may be entitled to collect only from
AT&T. 
 If the Notes are issued in definitive form, payment of the principal and interest on this Note due at the Maturity Date or upon
redemption will be made at the Maturity Date or upon redemption, as the case may be, upon presentation of this Note, in immediately available funds, at the office of BNY Trust Company of Canada, the Paying Agent for the Notes, currently located at
320 Bay Street, 11th Floor, Toronto, Ontario M5H 4A6. The Transfer Agent and Registrar for the Notes is The Bank of New York Mellon Trust Company, N.A., currently located at 601 Travis Street, 16th Floor, Houston, Texas 77002. 
 Payment of interest on this Note due on an Interest
Payment Date, other than interest at maturity or upon redemption, may be paid by check mailed to the address of the Holder entitled thereto as such address shall appear in the Note register. Notwithstanding the foregoing, (1) the Nominee as
Holder of the Notes or (2) a Holder of more than CDN$5,000,000 in aggregate principal amount of Notes in definitive form is entitled to require the Paying Agent to make payments of interest, other than interest due at maturity or upon
redemption, by wire transfer of immediately available funds into an account maintained by the Holder, by sending appropriate wire transfer instructions as long as the Paying Agent receives the instructions not less than ten days prior to the
applicable Interest Payment Date. The principal and interest payable in Canadian dollars on any of the Notes at maturity, or upon redemption, will be paid by wire transfer of immediately available funds against presentation of a Note at the office
of the Paying Agent. 

  
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 Reference is hereby made to the further provisions of this Note set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 3 

 IN WITNESS WHEREOF, AT&T INC. has caused this instrument to be signed in its corporate name,
manually or by facsimile, by its duly authorized officers and has caused its corporate seal to be imprinted hereon. 
  

							
	Dated: November 25, 2013	 		 	AT&T INC.
			
	[SEAL]	 		 	
				
		 		 	By:	 	  

		 		 		 	Jonathan P. Klug
		 		 		 	Senior Vice President
		 		 		 	and Treasurer
				
		 		 	By:	 	  

		 		 		 	George B. Goeke
		 		 		 	Vice President
		 		 		 	and Assistant Treasurer

 Trustee’s Certificate of Authentication 

This is one of the 3.825% Global Notes due 2020 of the series designated herein referred to in the within-mentioned Indenture. 

 

							
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,	  	
	as Trustee	  		  	
				
	By:	 	  
	  		  	Dated: November 25, 2013
		 	Authorized Signatory	  		  	

  
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 REVERSE OF NOTE 

This Note is one of a duly authorized issue of debt securities of AT&T issued under and pursuant to an Indenture, dated as of May 15,
2013, between AT&T and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee,” which term includes any successor Trustee under the Indenture), to which indenture and all indentures supplemental thereto
(collectively, the “Indenture”) reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, AT&T and the Holders of the Notes and of the terms upon
which the Notes are, and are to be, authenticated and delivered. The Notes will be issued in fully registered form only and in denominations of CDN$150,000 and integral multiples of CDN$1,000 in excess thereof. This Note is one of the series
designated on the face hereof initially limited in aggregate principal amount to CDN$1,000,000,000. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of AT&T and the rights of the Holders of the Notes under the Indenture at any time by AT&T and the Trustee with the consent of the
Holders of a majority in principal amount of the Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes at the time outstanding to waive compliance by
AT&T with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future
Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of AT&T, which
is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

Principal and interest payments in respect of the Notes are payable by AT&T in Canadian dollars. If interest is calculated for a period
shorter than one full year, other than a regular semi-annual period, such interest will be computed on the basis of a 365-day year and the actual number of days elapsed in that period. 

Payment Without Withholding 

All payments in respect of the Notes by or on behalf of AT&T shall be made without withholding or deduction for, or on account of, any
present or future taxes, duties, assessments or governmental charges of whatever nature (“Taxes”) imposed, collected, withheld, assessed or levied by or on behalf of the Relevant Jurisdiction (as defined herein), unless the withholding or
deduction of the Taxes is required by law. In that event, AT&T will pay such additional amounts to a Holder who is a United States Alien (as defined herein) as may be necessary in order that the net amounts received by the Holder after the
withholding or deduction shall equal the respective 

  
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amounts which would have been receivable in respect of the Notes in the absence of the withholding or deduction; except that no such additional amounts shall be payable in relation to any payment
in respect of any Note: 
 (a) where such withholding or deduction would not have been so imposed but for: 

(i) in the case of payment by AT&T, the existence of any present or former connection between the Holder (or between a fiduciary, settlor,
shareholder, beneficiary or member of the Holder, if such Holder is an estate, a trust, a corporation or a partnership) and the United States, including, without limitation, such Holder (or such fiduciary, settlor, shareholder, beneficiary or
member) being or having been a citizen or resident or treated as a resident thereof, or being or having been engaged in trade or business or presence therein, or having or having had a permanent establishment therein; 

(ii) in the case of payment by AT&T, the present or former status of the Holder as a personal holding company, a foreign personal holding
company, a passive foreign investment company, or a controlled foreign corporation for United States federal income tax purposes or a corporation which accumulates earnings to avoid United States federal income tax; 

(iii) in the case of payment by AT&T, the past or present or future status of the Holder as the actual or constructive owner of 10% or more
of either the total combined voting power of all classes of stock of AT&T entitled to vote if AT&T was treated as a corporation, or the capital or profits interest in AT&T, if AT&T is treated as a partnership for United States
federal income tax purposes or as a bank receiving interest described in Section 881(c) (3) (A) of the Internal Revenue Code of 1986, as amended; or 

(iv) the failure by the Holder to comply with any certification, identification or other reporting requirements concerning the nationality,
residence, identity or connection with the United States (in the case of payment by AT&T) of such Holder, if compliance is required by statute or by regulation as a precondition to exemption from such withholding or deduction; 

(b) in the case of payment by AT&T to any United States Alien, if such person is a fiduciary or partnership or other than the sole
beneficial owner of any such payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such partnership or the beneficial owner would not have been entitled to the additional amounts had such beneficiary,
settlor, member or beneficial owner been the bearer of such Note. As used herein, “United States Alien” means any person who, for United States federal income tax purposes, is a foreign corporation, a non-resident alien individual, a
non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which is, for United States federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien
fiduciary of a foreign estate or trust; 

  
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 (c) to the extent that the withholding or deduction is as a result of the imposition of any gift,
inheritance, estate, sales, transfer, personal property or any similar tax, assessment or other governmental charge; 
 (d) to, or to a third
party on behalf of, a Holder who is liable for the Taxes in respect of the Note by reason of his having any or some present or former connection, including but not limited to fiscal residency, fiscal deemed residency and substantial interest
shareholdings, with the Relevant Jurisdiction, other than the mere holding of the Note; 
 (e) presented for payment more than 30 days after
the Relevant Date except to the extent that a Holder would have been entitled to additional amounts on presenting the relevant Note for payment on the last day of the period of 30 days assuming that day to have been an Interest Payment Date; 

(f) any tax, assessment or other governmental charge required to be withheld by any paying agent from any payment of principal or of interest
on any Note, if such payment can be made without withholding by any other paying agent; 
 (g) any tax, assessment or governmental charge
that is imposed or withheld solely because the beneficial owner or any other person failed to comply with certification, identification or information reporting requirements concerning the nationality, residence, identity or connection with the
United States of the holder or beneficial owner of AT&T’s Notes, if compliance is required by statute, by regulation of the United States Treasury Department or by an applicable income tax treaty to which the United States is a party as a
precondition to exemption from such tax, assessment or other governmental charge; 
 (h) any tax, assessment or governmental charge that is
imposed or withheld solely because of a change in law, regulation, or administrative or judicial interpretation that becomes effective after the day on which the payment becomes due or is duly provided for, whichever occurs later; or 

(i) any combination of (a), (b), (c), (d), (e), (f), (g) or (h) immediately above. 

Optional Redemption by AT&T 

The Notes will be redeemable, as a whole or in part, at AT&T’s option, at any time and from time to time, on at least
30 days’, but not more than 60 days’, prior notice mailed to the registered address of each Holder of the Notes. The redemption price will be equal to the greater of (1) 100% of the principal amount of the Notes to be
redeemed or (2) the Canada Yield Price. 

  
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 “Canada Yield Price’’ means a price equal to the price which, if the
Notes being redeemed were to be issued at such price on the date of redemption, would provide a yield thereon from the date of redemption to their maturity date equal to the Government of Canada Yield plus 41 basis points, calculated by AT&T on
the third Business Day (as defined below) preceding the date of redemption of the Notes. 
 “Government of Canada
Yield” means the effective yield from the date fixed for redemption to November 25, 2020, assuming semi-annual compounding, which a non-callable Government of Canada bond, trading at par, would carry if issued in Canadian dollars in
Canada on the date fixed for redemption with a maturity date of November 25, 2020. The Government of Canada Yield shall be calculated by AT&T as the arithmetic average of the yields to maturity quoted by two Canadian investment dealers
selected by AT&T. 
 On and after the redemption date, interest will cease to accrue on the Notes or any portion of the Notes
called for redemption, unless AT&T defaults in the payment of the redemption price and accrued interest. On or before the redemption date, AT&T will deposit with a Paying Agent or the Trustee money sufficient to pay the redemption price of
and accrued interest on the Notes to be redeemed on that date. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate. 

Redemption for Taxation Reasons 

If (a) as a result of any change in, or amendment to, the laws or regulations of a Relevant Jurisdiction, or any change in the official
interpretation of the laws or regulations of a Relevant Jurisdiction, which change or amendment becomes effective after November 14, 2013, on the next Interest Payment Date AT&T would be required to pay additional amounts as provided or
referred to above under “Payment Without Withholding” and (b) the requirement cannot be avoided by AT&T’s taking reasonable measures available to it, AT&T may at its option, having given not less than 30 nor more than 60
calendar days’ notice to the Holders (which notice shall be irrevocable), redeem all, but not a portion of, the Notes at any time at their principal amount together with interest accrued to, but excluding, the date of redemption provided that
no such notice of redemption shall be given earlier than 90 days prior to the earliest date on which AT&T would be obliged to pay such additional amounts were a payment in respect of the Notes then due. Prior to the publication of any notice of
redemption pursuant to this paragraph, AT&T shall deliver to the Trustee a certificate signed by two executive officers of AT&T stating that the requirement referred to in (a) above will apply on the next Interest Payment Date and
setting forth a statement of facts showing that the conditions precedent to the right of AT&T so to redeem have occurred, cannot be avoided by AT&T taking reasonable measures available to it and an opinion of independent legal advisers of
recognized international standing to the effect that AT&T has or will become obliged to pay such additional amounts as a result of the change or amendment, in each case to be held by the Trustee and made available for viewing at the offices of
the Trustee on request by any Holder. 

  
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 “Relevant Date” means the date on which the payment first becomes due but, if the full
amount of the money payable has not been received by the Trustee on or before the due date, it means the date which is seven days after the date on which, the full amount of the money having been so received, notice to that effect shall have been
duly given to the Holders by AT&T. 
 “Relevant Jurisdiction” means the State of Delaware and the United States or any
political subdivision or any authority thereof or therein having power to tax or any other jurisdiction or any political subdivision or any authority thereof or therein having power to tax to which AT&T becomes subject in respect of payments
made by it of principal and interest on the Notes. 
 Any reference in the terms of the Notes to any amounts in respect of the Notes shall
be deemed also to refer to any additional amounts which may be payable herein. 
 Registrar and Paying Agent 

The Paying Agent for the Notes is BNY Trust Company of Canada currently located at 320 Bay Street, 11th Floor, Toronto, Ontario M5H 4A6 (“Paying Agent”). In addition, AT&T shall maintain in the Borough of Manhattan, The City of New York, an office or agency where Notes may be surrendered
for registration of transfer or exchange. AT&T has initially appointed an affiliate of the Trustee, BNY Trust Company of Canada, as its Paying Agent. AT&T may vary or terminate the appointment of any of its paying or transfer agencies, and
may appoint additional paying or transfer agencies. 
 Further Issues 

AT&T reserves the right from time to time, without notice to or the consent of the Holders of the Notes, to create and issue further notes
ranking equally and ratably with the Notes in all respects, or in all respects except for the payment of interest accruing prior to the issue date or except for the first payment of interest following the issue date of those further notes. Any
further notes will have the same terms as to status, redemption or otherwise as the Notes. Any further notes shall be issued pursuant to a resolution of the board of directors of AT&T, a supplement to the Indenture, or under an officers’
certificate pursuant to the Indenture. 
 Notes in Definitive Form 

If (1) an Event of Default has occurred with regard to the Notes represented by this Note and has not been cured or waived in accordance
with the Indenture, or (2) the CDS Clearing and Depository Services Inc. is at any time unwilling or unable to continue as depository and a successor depository is not appointed by AT&T within 90 days, AT&T may issue notes in definitive
form in exchange for this Note. In either instance, an owner of a beneficial interest in the Notes will be entitled to the physical delivery in definitive form in exchange for this Note, equal in principal amount to such beneficial interest and to
have such Notes registered in its name. 

  
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 Notes so issued in definitive form will be issued as registered notes in minimum denominations of
CDN$150,000 and integral multiples of CDN$1,000, unless otherwise specified by AT&T. 
 Notes so issued in definitive form may be
transferred by presentation for registration to the Registrar at its New York office and must be duly endorsed by the Holder or the Holder’s attorney duly authorized in writing, or accompanied by a written instrument or instruments of transfer
in form satisfactory to AT&T or the Trustee duly executed by the Holder or his attorney duly authorized in writing. 
 AT&T may
require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any exchange or registration of transfer of definitive Notes. 

Default 
 In case an Event
of Default, as defined in the Indenture, shall have occurred and be continuing, the principal hereof may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in
the Indenture. 
 Miscellaneous 

For purposes of the Notes, the term “Business Day” means any day other than a Saturday or Sunday or a day on which banking
institutions in The City of New York or The City of Toronto are authorized or required by law or executive order to close. 
 For the
purposes of the Interest Act (Canada) and disclosure thereunder, whenever any interest to be paid hereunder or in connection herewith is to be calculated on the basis of a 360-day or 365-day year, the yearly rate of interest to which the rate
used in such calculation is equivalent is the rate so used multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by 360 or 365, as applicable. The foregoing sentence is for the purposes of
disclosure under the Interest Act (Canada) only and not for any other purpose and shall not otherwise affect the terms of the Notes. 

No director, officer, employee or stockholder, as such, of AT&T shall have any liability for any obligations of AT&T under this Note,
the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting this Note waives and releases all such liability. The waiver and release are part of the consideration for the issue
of this Note. 
 The Notes are the unsecured and unsubordinated obligations of AT&T and will rank pari passu with all
other evidences of indebtedness issued in accordance with the Indenture. 

  
 9 

 Prior to due presentment of this Note for registration of transfer, AT&T, the Trustee and any
agent of AT&T or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither AT&T, the Trustee nor any such agent shall be affected by notice
to the contrary. 
 All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the
Indenture. 
 The Indenture and this Note shall be governed by and construed in accordance with the laws of the State of New York.

  
 10 

 SCHEDULE OF INCREASES OR DECREASES 

The initial principal amount of this Global Note is CDN$1,000,000,000. The following increases or decreases in this Global Note have been made:

  

									
	 Date of Exchange
	  	Amount of
decrease in
Principal
Amount of this
Global Note	  	Amount of
increase in
Principal
Amount of this
Global Note	  	Principal amount
of this Global
Note following
such decrease or
increase	  	Signature of
authorized
signatory of
Trustee or
Securities
Custodian

 

  
 11EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT 

THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT is made as of November 21, 2013, by and among iCAD, Inc., a Delaware corporation (the
“Company”) and Kevin C. Burns (the “Executive”). 
 WITNESSETH 

Reference is made to that certain Employment Agreement, dated April 26, 2011, by and between the Company and the Executive (the
“Employment Agreement”); 
 WHEREAS, the Company and the Executive desire that the Executive’s position of employment
with the Company be changed from Executive Vice President of Finance and Chief Financial Officer to Executive Vice President, Chief Financial Officer and Chief Operating Officer (the “Promotion”); 

WHEREAS, in connection with the Promotion, the Company desires to award the Executive a one-time cash bonus on or about the date hereof of
$50,000 (the “Cash Bonus”); 
 WHEREAS, in connection with the Promotion, the Company desires to increase the
Executive’s Incentive Bonus from 40% of the Base Salary for each Employment Year to 50% of the Base Salary for each Employment Year (the “Incentive Bonus Increase”); 

WHEREAS, the Company and the Executive desire to amend the Employment Agreement to reflect the Promotion, the Cash Bonus and the Incentive
Bonus Increase; and 
 WHEREAS, capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Employment
Agreement. 
 NOW, THEREFORE, in consideration of the foregoing premises and certain other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Amendment of the first recital to the Employment
Agreement. The first recital to the Employment Agreement be, and hereby is, deleted in its entirety and replaced with the following: 

WHEREAS, the Company desires to employ the Executive as its Executive Vice President, Chief Financial Officer and Chief Operating Officer on
the terms and conditions set forth in this Agreement; and 
 2. Amendment to Section 1.2.1 of the Employment Agreement.
Section 1.2.1 to the Employment Agreement be, and hereby is, deleted in its entirety and replaced with the following: 
 During the
Term, the Executive shall have the title of Executive Vice President, Chief Financial Officer and Chief Operating Officer of the Company and shall have such duties as may be from time to time delegated to him by the Chief Executive Officer and the
Board of Directors of the Company (the “Board”). The Executive shall faithfully and diligently discharge his duties hereunder and use his best efforts to implement the policies established by the Board. The Executive’s
responsibilities shall include, among other things, to render executive, policy, operations and other management services to the Company of the type customarily provided by persons situated in similar executive and management capacities. 

 3. Amendment to Section 2.2 of the Employment Agreement. Section 2.2 to the
Employment Agreement be, and hereby is, deleted in its entirety and replaced with the following: 
 Incentive Bonus. The Executive
shall be eligible to receive, for each Employment Year during the Term, and beginning as of January 1, 2013, a target annual incentive bonus of 50% of the Base Salary for such Employment Year (the “Incentive Bonus”) if the Company
achieves goals and objectives established by the Board of Directors for such Employment Year; provided, however, that for the 2011 Employment Year, the target Incentive Bonus shall be 40% of the Base Salary for 2011 multiplied by a fraction, the
numerator of which is the number of days employed by the Company during 2011 and the denominator of which is 365. Any Incentive Bonus shall be paid in full in a single lump sum cash payment during the calendar year next following the Employment Year
for which it is earned (“Payment Calendar Year”), and no later than the earlier of (1) December 31 of the Payment Calendar Year or (2) fifteen (15) calendar days following the date on which the Company publicly
announces its results of operations for such Employment Year. 
 4. Amendment to Section 2.4 of the Employment Agreement.
Section 2.4 to the Employment Agreement be, and hereby is, deleted in its entirety and replaced with the following: 
 Additional
Compensation. In addition to the Base Salary, the Incentive Bonus, if any, and the Shares, the Executive shall (1) receive a one-time cash bonus of $50,000 to be paid on or about the date of that certain Amendment No. 1 to Employment
Agreement by and between the Company and the Executive, and (2) be entitled to receive such other cash bonuses and such other compensation in the form of stock, stock options or other property or rights as may from time to time be awarded him
by the Board during or in respect of his employment hereunder. 
 5. Amendment to Section 10.1 of the Employment Agreement.
Section 10.1 to the Employment Agreement be, and hereby is, deleted in its entirety and replaced with the following: 

Notices. All notices or communications hereunder shall be in writing, addressed as follows: 

 

							
	To the Company:	  	iCAD, Inc.
		  	98 Split Brook Road, Suite 100
		  	Nashua, New Hampshire 03062
		  	Attn: Chief Executive Officer
		
	To the Executive:	  	Kevin C. Burns
		  	1 Dean Rd	  		  	
		  	Wellesley, MA 02481	  	

 6. Effect of Amendment. The parties hereby ratify and confirm all of the provisions of the Employment
Agreement as amended, modified or waived hereby, and agree and acknowledge that the same as so amended remains in full force and effect. 

  
 2 

 7. Counterparts. This Amendment may be executed by the parties in separate counterparts,
each of which when so executed and delivered will be an original, but all of which together will constitute one and the same agreement. 
 8.
Captions. The captions of sections or subsections of this Amendment are for reference only and will not affect the interpretation or construction of this Amendment. 

[The rest of this page is intentionally left blank.] 

  
 3 

 IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 to the Employment
Agreement as of the date first written above. 
  

			
	THE COMPANY:
	
	iCAD, INC.
		
	 By:
	 	 
	Name:	 	
	Title:	 	
	
	THE EXECUTIVE:
	
	 
	Kevin C. Burns

 [Signature Page to Amendment No. 1 to Employment
Agreement]

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