Document:

Exhibit 10.1

 

 

AGREEMENT AND RELEASE

 

The following agreement and release (the
“Agreement”) is made and entered into on this 7th day of December, 2015 by and between Robert J.
Keller (“Executive”) and Escalade, Incorporated, an Indiana corporation (“Escalade”) regarding
Executive’s termination from all positions held by Executive with Escalade and its various subsidiaries and affiliates. Escalade
and Executive are sometimes referred to collectively as the “parties” and individually as a “party,”
and the term “Company” shall mean Escalade and its various subsidiaries and affiliates collectively.

Recitals:

 

A.Executive is the Chief Executive Officer and President
of Escalade, a director of Escalade, and an officer and/or director of various subsidiaries and affiliates of Escalade; and

 

B.Executive’s employment with the Company has
terminated; and

 

C.Executive and the Company are parties to that certain
Executive Severance Agreement dated as of September 14, 2012 (the “Executive Agreement”), which Executive Agreement
represents the parties’ mutual agreement with respect to all matters related to Executive’s termination of employment
with the Company. All capitalized terms used in this Agreement and not defined herein shall have the meaning set forth in the Executive
Agreement.

 

NOW, THEREFORE, in consideration of the
mutual promises contained in this Agreement, the Company and Executive agree as follows:

 

1.Termination. Executive hereby affirms his termination
without cause from his positions as Chief Executive Officer and President of Escalade and from all other executive officer and
director positions that he holds with Escalade and any of Escalade’s subsidiaries and their affiliates, effective as of December
7, 2015 (the “Employment End Date”). Executive acknowledges and agrees as of the Employment End Date he also
retires as a trustee or other administrator of any and all Company benefit plans, including without limitation the Company’s
retirement plan. Executive and the Company agree that Executive’s resignation as a Director of Escalade is not related to
any disagreement between them (other than as may relate to the termination of the Executive’s employment with the Company).

 

2.Compensation and Benefits.
Provided that Executive fulfills his obligations as set forth in this Agreement, the Company shall pay to Executive the following
Severance Benefits:

 

(a)the Company shall continue to pay the Executive his
Base Salary and continue his Employee Benefits through the end of the Company’s 2015 fiscal year;

 

(b) the Company will pay Executive the
amount of Two Hundred Seventy Five Thousand Dollars ($275,000.00), which amount the Company and Executive agree represents the
full incentive compensation amount payable to Executive for the Company’s 2015 fiscal year, payable upon the later of 75
days of the end of the Company’s 2015 fiscal year or the date the Company makes incentive payments to other employees receiving
similar Incentives;

 

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(c) the Company will pay Executive additional
payments equal to one year Base Salary, payable in accordance with the regular payroll practices of the Company as applicable to
the Executive immediately prior to the Employment End Date;

 

(d) all equity incentive awards granted
to the Executive and outstanding as of the Employment End Date shall be treated in the manner set forth in the applicable Incentive
Compensation Plan of the Company, provided, however, that all such equity incentive awards held by the Executive that have not
vested prior to the Employment End Date shall vest in full immediately prior to termination and shall be exercisable for a period
of 90 days thereafter or, in the event of Executive’s death, for such longer period of time as permitted by the Incentive
Compensation Plan;

 

(e) with respect to the Executive and
his family members who are covered by the Company’s medical plan as of the Employment End Date, subject to meeting ongoing
eligibility requirements, the Executive and those family members shall be entitled to the continuation of such health care benefits
under the provisions of the Consolidated Omnibus Budget Reconciliation Act or any substantially equivalent successor law (“COBRA”)
and the Company will pay the applicable COBRA premiums on his behalf for 12 months following the Employment End Date (and the Executive
shall be responsible for all COBRA premiums thereafter); and

 

(f)Executive may retain his Company issued
laptop, iPad, and cell phone at no cost to Executive.

 

3.Executive’s Obligations. In consideration
of the payments and benefits provided in Section 2 above, Executive will:

 

(a)fully cooperate and assist the Company with any litigation
matters or regulatory or agency proceedings for which his testimony or cooperation is requested by Company following the Employment
End Date, provided that he is reimbursed for any reasonable and necessary expenses incurred as a result of his cooperation and
assistance, and further provided that the Company and Executive shall discuss in advance of Executive’s providing any such
cooperation and assistance the anticipated time commitment that would likely be required of Executive with respect to any such
matter and shall mutually determine whether Executive should be compensated for his time and the amount of any such compensation,
it being understood and agreed that if the parties cannot reach agreement as to any such compensation, then the Company shall not
request, and Executive shall not be required, to provide cooperation and assistance with respect to such litigation or proceeding;

 

(b)sign all necessary resignations from the boards of
directors and/or all other officer, employee and trustee positions of the Company, but in any event Executive shall be deemed to
have resigned any such executive officer, director and trustee positions as of the Employment End Date;

 

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(c)through the Employment End Date, continue to comply
with the Company’s Insider Trading Policy, Code of Ethics and all other Company policies and procedures applicable to employees
of the Company including, without limitation, no destruction of any documents belonging to or relating to the Company or Executive’s
employment with the Company, whether in paper, electronic, digital or any other format, unless such destruction is approved in
advance and observed by an officer of the Company specifically designated and authorized by Escalade’s Board of Directors;

 

(d)comply with all laws relating to the
Company’s business and operations as applicable to Executive and the Company; and

 

(e)comply with all covenants contained in the Executive
Agreement and in this Agreement, including without limitation Sections 4, 5 and 6 hereof.

 

4.Mutual Nondisparagement.

 

(a)Executive’s Covenant. Beginning on the
Employment End Date, Executive shall not make, participate in the making of, or encourage any other person to make, any statements,
written or oral, which criticize, disparage, or defame the reputation of, or which embarrass the Company, its subsidiaries and
their affiliates or any of their respective present, former or future directors, officers, executives, employees and/or shareholders.

 

(b)Company’s Covenant. Beginning on the
Employment End Date, the Company shall not, and shall instruct the members of Escalade’s Board of Directors and executive
officers not to, make, participate in the making of, or encourage any employees or any other person to make, any statements, written
or oral, which criticize, disparage, or defame the reputation of, or which are intended to embarrass, the Executive.

 

5.Confidentiality. Executive understands and
agrees that:

 

(a) Escalade is required to describe the
material terms of this Agreement in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission no later
than four (4) business days after this Agreement is signed by the Executive and Escalade, and that the Company will attach this
Agreement in its entirety as an Exhibit to such public filing;

 

(b)Executive has been through the Employment
End Date in the course of employment with the Company entrusted with or obtained access to information proprietary to the Company
with respect to the following (all of which information is referred to hereinafter collectively as the "Information"):
the organization and management of the Company; the names, addresses, buying habits, and other special information regarding past,
present and potential customers, employees and suppliers of the Company; customer and supplier contracts and transactions or price
lists of the Company and their suppliers; products, services, programs and processes sold, licensed or developed by the Company;
technical data, plans and specifications, present and/or future development projects of the Company; financial and/or marketing
data respecting the conduct of the present or future phases of business of the Company; computer programs, systems and/or software;
ideas, inventions, trademarks, trade secrets, business information, know-how, processes, improvements, designs, redesigns, discoveries
and developments of the Company; and other information considered confidential by any of the Company or its customers or suppliers.
At all times through the Employment End Date and thereafter, Executive agrees to retain the Information in absolute confidence
and not to disclose the Information to any person or organization except as required in the performance of Executive's duties for
the Company as provided in this Agreement, without the express written consent of the Company; provided that Executive’s
obligation of confidentiality shall not extend to any Information which becomes generally available to the public other than as
a result of disclosure by Executive; and

 

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(c)Executive and the Company agree that
effective upon the Company’s filing of its Form 10-K for its 2015 fiscal year, Executive will no longer be privy to material,
non-public information regarding the Company. Accordingly, the Company agrees that Executive shall not be subject to the Company’s
Insider Trading Policy thereafter, provided, however, that if and to the extent that Executive may from time to time acquire knowledge
of material, non-public information regarding the Company, Executive acknowledges and agrees that he may not trade based upon such
information and must comply with all applicable laws prohibiting insider trading. The Company further agrees that it will not intentionally
provide material, non-public information to Executive following the Employment End Date except in connection with such events,
actions or circumstances that would require stockholder approval and the Company has made a good faith determination that it is
necessary and appropriate to disclose such information to Executive given his then current ownership of Escalade common stock,
and that the Company will use its reasonable best efforts to prevent any inadvertent disclosures of material, non-public information
to Executive.

 

6.Covenant Not to Compete, No Interference;
No Solicitation. At all times through the twelfth month following the Employment End Date (or if this period is unenforceable
by law, then for such shorter period as shall be enforceable):

 

(a)Executive will not engage in any business
offering products or services related to the current business of the Company, whether as a principal, partner, joint venture, agent,
employee, salesman, consultant, director or officer, where such business or business activity is in competition with the Company
in any geographic market where the Company does business; provided, however, that Executive shall not be prohibited from performing
services for a subsidiary or division of a competitive business, as long as such subsidiary or division is not in competition with
the Company and the Executive abides by all other provisions of this Agreement including without limitation Sections 4, 5, 6(b)
and 6(c);

 

(b)Executive will not interfere with or adversely affect,
either directly or indirectly, the Company’s relationships with any person, firm, association, corporation or other entity
which is known by Executive to be, or is included on any listing to which Executive had access during the course of his employment
as a customer, client, supplier, consultant or employee of the Company, and Executive will not divert or change, or attempt to
divert or change, any such relationship to the detriment of the Company or to the benefit of any other person, firm, association,
corporation or other entity; and 

 

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(c)Executive will not induce, seek to induce or participate
directly or indirectly with any third party in seeking to induce, any other employee of the Company to terminate his or her employment
relationship with the Company, provided, however, that this restriction shall not prohibit Executive from hiring any employee who
seeks employment from Executive or any third party with whom Executive may be employed or affiliated with in the future on an unsolicited
basis as long as such employment is not in competition with any business or operations of the Company.

 

Executive acknowledges and agrees that the
covenants, restrictions, agreements, and obligations set forth herein are founded upon valuable consideration, and, with respect
to the covenants, restrictions, agreements, and obligations set forth in this Section 6 are reasonable in duration and geographic
scope. The time period and geographical area set forth in this Section 6 are each divisible and separable, and, in the event that
the covenants not to compete and/or not to divert business or employees contained therein are judicially held invalid or unenforceable
as to such time period and/or geographical area, they will be valid and enforceable in such geographical area(s) and for such time
period(s) which the court determines to be reasonable and enforceable. Executive agrees that in the event that any court of competent
jurisdiction determines that the above covenants are invalid or unenforceable to join with the Company in requesting such court
to construe the applicable provision by limiting or reducing it so as to be enforceable to the extent compatible with the then
applicable law. Furthermore, it is agreed that any period of restriction or covenant hereinabove stated shall not include any period
of violation or period of time required for litigation or arbitration to enforce such restrictions or covenants.

 

7.Tax Liability; Tax Withholding. Executive acknowledges
and agrees that he is responsible for the payment of all taxes relating to the consideration to be provided to him as contemplated
by this Agreement, including the payment of any taxes relating to his exercise of stock options and his receipt of any stock, cash
or other consideration relating to any other equity incentive awards he may have received from the Company. Notwithstanding any
other provision of this Agreement, the Company will withhold from any amounts payable under this Agreement, or any other benefits
received pursuant hereto, such federal, state and/or local taxes as shall be required to be withheld under any applicable law or
regulation.

 

8.No Mitigation; No Offset. In no event shall
Executive be obligated to seek other employment or to take any other action that would mitigate the amounts payable to Executive
under this Agreement. In the event that Executive would obtain subsequent employment, the Company may not offset any compensation
or other amounts earned by Executive from such subsequent employment or engagement of his services against the Executive’s
entitlements under this Agreement. Moreover, subject to Executive’s compliance with the covenants set forth in Sections 4,
5 and 6 of this Agreement, Executive shall be free to pursue any unsolicited, non-competitive opportunities for employment or services
as may arise from the Company’s customers, vendors, employees and affiliates.

 

9.Section 16 Reports. Executive and the Company
agree that notwithstanding Executive’s termination as an executive officer and a director of Escalade as of the Employment
End Date, Executive may continue to be subject to the reporting requirements of Section 16 of the Securities Exchange Act of 1934,
as amended, and the rules and regulations thereunder for up to six months following the Employment End Date. Accordingly, Executive
agrees to provide timely notice to Escalade’s chief financial officer of all transactions undertaken by Executive in Escalade
common stock, including the purchase or sale of any shares of Escalade common stock and the exercise of any stock options, during
the six month period following the Employment End Date, and the Company shall prepare and file the appropriate Section 16 reports
with the Securities and Exchange Commission on behalf of Executive. Upon the conclusion of such six month period, the Company acknowledges
that Executive will no longer be deemed an affiliate of the Company and, absent Executive being in possession of material, non-public
information concerning the Company, may freely engage in trades of Escalade securities.

 

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10.Remedies.

 

(a)Arbitration; Submission to Jurisdiction. Any
dispute that may arise between the Company and Executive relating to this Agreement and the subject matter hereof shall be settled
by binding arbitration in accordance with Section 9 of the Executive Agreement.

 

(b)Injunctive Relief. Executive agrees that in
the event of any actual or threatened breach by him of any of the provisions contained in this Agreement, including those covenants
specifically set forth in Sections 3, 4, 5 and 6 hereof, the Company shall be entitled to seek immediate temporary injunctive and
other equitable relief, without the necessity of showing actual monetary damages, subject to hearing as soon thereafter as possible.
In the event of such injunctive relief, the periods of time referred to in Sections 5 and 6 shall be deemed extended for a period
equal to the respective period during which Employee is in breach thereof, in order to provide for injunctive relief and specific
performance for a period equal to the full term thereof and the Company shall be entitled to cease its obligations to Executive
pursuant to Section 2. In the event that the Company breaches its obligations to make payments and to provide the benefits specified
in Section 2 hereof, Executive may seek specific performance in addition to monetary damages and Executive will not be subject
to the provisions of Section 4, 5 or 6 hereof. Nothing contained herein shall be construed as prohibiting Executive or the Company
from pursuing any other remedies available to it for such breach or threatened breach, including the recovery of any damages which
it is able to prove.

 

11.Mutual Release. In consideration of the payments
and benefits set forth in this Agreement, such payments and benefits being good and valuable consideration:

 

(a)Release by Executive. Subject
to Section 10(b), Executive, on his own behalf and on behalf of his heirs, administrators, executors, successors, assigns and personal
representatives, covenants not to sue and hereby fully and forever releases, acquits and discharges the Company, its shareholders,
directors, officers, employees, agents, representatives, insurance carriers, and their successors and assigns (collectively the
“Releasees”), from any and all claims, demands, actions and causes of action of every kind, nature or description (collectively
“claims”) that Executive may have had, may now have, or may hereafter have against Releasees, including without limitation
any and all claims in any way related to or based upon Executive’s employment with the Company through the Employment End
Date and/or the cessation of Executive’s service as an employee, executive officer and director of the Company, including
without limitation any claims for breach of contract, implied contract, promissory estoppel, tortious conduct or claims arising
under any federal or state statute or law or local ordinance, including but not limited to: the Age Discrimination in Employment
Act as amended (“ADEA”); Older Workers’ Benefit Protection Act (“OWBPA”); Americans with Disabilities
Act (“ADA”) as amended; the Family and Medical Leave Act (“FMLA”); Title VII of the Civil Rights Act of
1964; the Civil Rights Acts of 1991; the Employee Retirement Income Security Act (“ERISA”); 42 U.S.C. § 1981;
29 U.S.C. § 206(d)(1); Section 503 and 504 of the Rehabilitation Disabilities Act; the WARN Act; Indiana’s fair employment
practices statutes; any other federal, state or local law dealing with employment discrimination; and any federal or state “Whistleblower”
law, existing as of the date of this Agreement. Provided, however, that if the Company were to breach this Agreement, this release
would not bar an action by Executive against the Company to enforce its term(s) or any applicable law. In addition, this Section
11(a) shall not affect adversely any benefits to which Executive may be entitled arising out of any social security, workers' compensation
or unemployment laws, or under the terms of any employee pension or welfare or benefit plans or programs of the Company, which
may be payable now or in the future to Executive.

 

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(b)Acknowledgements
by Executive. Executive specifically acknowledges and agrees that: (i) Executive is waiving claims under the foregoing laws,
including specifically the ADEA and the OWBPA; (ii) this waiver of any rights or claims is knowing and voluntary; (iii) this Agreement
is written in a manner that Executive understands; (iv) the Company has hereby advised Executive to consult with an attorney before
executing this Agreement and that Executive has so consulted; (v) the waiver of rights under Section 11(a) does not waive rights
or claims arising after the date of this Agreement; (vi) Executive has been given a period of 21 days within which to consider
this Agreement; (vii) for a period of seven days following Executive’s execution of this Agreement, Executive may revoke
this Agreement and this Agreement will not become enforceable or effective until the revocation period expires; and (viii) the
waiver of rights in Section 11(a) is in exchange for consideration in addition to anything of value to which Executive was already
entitled to receive.

 

(c)Release by the Company. Subject
to Section 10(b), the Company, on behalf of itself and its successors and assigns, covenants not to sue and hereby fully and forever
releases, acquits and discharges Executive and his successors and assigns, from any and all claims, demands, actions and causes
of action of every kind, nature or description (collectively “claims”) that the Company may have had, may now have,
or may hereafter have against Executive, including without limitation any and all claims in any way related to or based upon Executive’s
employment with the Company, its subsidiaries and affiliates through the Employment End Date and/or the cessation of Executive’s
service as an executive officer or director of the Company, including without limitation any claims for breach of contract, implied
contract, promissory estoppel, tortious conduct or claims arising under any federal or state statute or law or local ordinance,
existing as of the date of this Agreement. Provided, however, that if Executive were to breach this Agreement, this release would
not bar an action by the Company against Executive to enforce its term(s) or any applicable laws.

 

(d)Unknown Claims. This Agreement covers both
claims that Executive and/or the Company know about and those that Executive and/or the Company may not know about. The parties
hereto expressly waive all rights afforded by any statute that limits the effect of a release with respect to unknown claims. Each
of Executive and the Company understand the significance of its respective release of unknown claims and the waiver of statutory
protection against a release of unknown claims. However, this release shall not apply to any claim based on the fraud or intentional
misconduct of the other party or to any act that is determined to be a criminal act under any federal, state or local law committed
or perpetrated by Executive or the Company at any time prior to and through the Employment End Date. Neither Executive nor the
Company, based on the knowledge of Escalade’s Board of Directors and of the Company’s executive officers other than
Executive, is currently aware of any fraud or intentional misconduct of the other party to this Agreement.

 

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(e)Future Claims Related to Employee and/or Shareholder
Status. Notwithstanding any provision of this Section 11 that may be construed to the contrary, Executive and the Company agree
that neither Executive nor the Company waive or release the other party hereto from any claim that may arise based on events occurring
after the Employment End Date. Executive and the Company further agree that Executive may not, based upon Executive’s status
as a shareholder of the Company, assert any claim subsequent to the Employment End Date against the Company or any Releasees relating
to any potential claim or matter that is the subject of or is otherwise covered by the release granted by Executive in this Agreement
or is in any way related to the event of Executive’s retirement from the Company.

 

12.Future Service as Employee, Executive Officer
or Director. Executive agrees that his termination as an employee, executive officer and director of the Company is irrevocable,
and that the Company shall have no obligation whatsoever to rehire, reappoint or elect Executive to any such officer, director
or other position with the Company. Executive further agrees that if he would seek any such position and is not so hired, nominated,
appointed or elected, Executive will not bring a claim against the Company and/or any Releasee for refusal to so hire, nominate,
appoint or elect.

 

13.Binding Effect; Authority. This Agreement
shall bind the Executive’s heirs, executors, administrators, personal representatives, spouse, dependents, successors and
assigns. Escalade represents and warrants to Executive that the individual signing this Agreement on behalf of the Company is duly
authorized to enter into this Agreement and to bind the Company hereunder.

 

14.Non-Admission. This Agreement shall not be
construed as an admission by either party of any wrongdoing or any violation of any federal, state or local law, regulation or
ordinance, and the parties specifically disclaim any wrongdoing or violation.

 

15.Assignability. Neither this Agreement, nor
any right or interest hereunder, shall be assignable by Executive, his beneficiaries or legal representatives, without the prior
written consent of an executive officer of Escalade.

 

16.Entire Agreement. This Agreement sets forth
the entire agreement between the parties with respect to the subject matter hereof and supersedes any other written or oral promises
concerning the subject matter of this Agreement except as expressly stated otherwise herein or except as expressly stated otherwise
in the Executive Agreement. The terms of this Agreement may not be modified other than in a writing signed by the parties.

 

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17.Governing Law. This Agreement shall in all
respects be interpreted, enforced and governed by the laws of the State of Indiana without giving effect to provisions thereof
regarding conflict of laws.

 

In Witness Whereof, the parties have entered
into this Agreement and Release as of this 7th day of December, 2015.

 

 

	 	/s/
Robert J. Keller

Robert
J. Keller

 

 

ESCALADE,
INCORPORATED

 

 

By:
/s/ Richard D. White

Name:
Richard D. White

Title:
Chairman of the Board

 

 

 

    9Exhibit
No. 10. 1

MYnd
Analytics, Inc.

 

FORM
OF INDEMNIFICATION AGREEMENT

 

This
Indemnification Agreement ("Agreement") is made as of December 7, 2015 by and between MYnd Analytics, Inc. a Delaware
corporation (the "Company"), and ________________ ("Indemnitee").

 

RECITALS

 

WHEREAS,
highly competent persons have become more reluctant to serve publicly-held corporations as directors or officers or in other capacities
unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims
and actions against them arising out of their service to and activities on behalf of the corporation;

 

WHEREAS,
the Board of Directors of the Company (the "Board") has, in order to attract and retain qualified individuals, obtained
liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities. The furnishing of such
insurance has been a customary and widespread practice among United States-based corporations and other business enterprises.  At
the same time, directors, officers, and other persons in service to corporations or business enterprises are being increasingly
subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been
brought only against the Company or business enterprise itself.  The Certificate of Incorporation of the Company permits
indemnification of the officers, directors and employees of the Company.  Indemnitee may also be entitled to indemnification
pursuant to the General Corporation Law of the State of Delaware (the "DGCL").  The DGCL expressly provides
that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered
into between the Company and members of the board of directors, officers and other persons with respect to indemnification;

 

WHEREAS,
the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining
such persons, particularly those at greater risk in light of their position with the Company;

 

WHEREAS,
the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company's stockholders and that the Company should act to assure such of those persons who in light of their position with
the Company are at an increased risk, that there will be increased certainty of such protection in the future;

 

WHEREAS,
it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses
on behalf of, such persons at an increased risk to the fullest extent permitted by applicable law so that they will serve or continue
to serve the Company free from undue concern that they will not be so indemnified; 

 

WHEREAS,
this Agreement is a supplement to and in furtherance of the Certificate of Incorporation of the Company and any resolutions adopted
pursuant thereto, and any agreements the Indemnitee may otherwise have with the Company, and shall not be deemed a substitute
therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

 

WHEREAS,
Indemnitee does not regard the protection available under the Company's Certificate of Incorporation and insurance as adequate
in the present circumstances, and may not be willing to serve as an officer, director or employee without adequate protection,
and the Company desires Indemnitee to serve in such capacity.  Indemnitee is willing to serve, or to continue to
serve, for or on behalf of the Company on the condition that he or she be so indemnified;

 

NOW,
THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant
and agree as follows:

 

    

     

    

 

1.             Services
to the Company.

 

Indemnitee
agrees to serve, or to continue to serve, as a director or officer of the Company or, at the request of the Company, as a director,
officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation
or any obligation imposed by operation of law), in which event the Company shall have no obligation under this Agreement to continue
Indemnitee in such position. This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries
or any other corporation, limited liability company, partnership, joint venture, trust employee benefit plan or other enterprise
of which Indemnitee was serving at the Company’s request as a director, officer, employee, agent or fiduciary) and Indemnitee.
Indemnitee specifically acknowledges that Indemnitee's employment with the Company (or any of its subsidiaries or any other corporation,
limited liability company, partnership, joint venture, trust employee benefit plan or other enterprise of which Indemnitee was
serving at the Company’s request as a director, officer, employee, agent or fiduciary), if any, is at will, and the Indemnitee
may be discharged at any time for any reason, with or without cause, except as may be otherwise provided in any written employment
contract between Indemnitee and the Company (or any of its subsidiaries or any other corporation, limited liability company, partnership,
joint venture, trust employee benefit plan or other enterprise of which Indemnitee was serving at the Company’s request
as a director, officer, employee, agent or fiduciary). As provided in Section 19, the foregoing notwithstanding, this Agreement
shall continue in force after Indemnitee has ceased to serve as an officer or director of the Company.

 

2.             Indemnification.

 

(a)
Third Party Proceedings. The Company shall indemnify Indemnitee if Indemnitee is or was a party or is threatened
to be made a party to any threatened, pending or completed action, suit, proceeding or any alternative dispute resolution mechanism,
whether civil, criminal, administrative or investigative (other than an action by or in the right of the Company) by reason of
the fact that Indemnitee is or was a director, officer, employee or agent of the Company, or any subsidiary of the Company, or
by reason of the fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including reasonable attorneys'
fees), judgments, fines and amounts paid in settlement (if such settlement is approved in advance by the Company, which approval
shall not be unreasonably withheld) actually and reasonably incurred by Indemnitee in connection with such action, suit or proceeding
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 or proceeding, had no reasonable cause to believe Indemnitee's conduct
was unlawful. 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.

 

(b) Proceedings
By or in the Right of the Company. 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 by or in the right of the Company or any
subsidiary of the Company to procure a judgment in its favor by reason of the fact that Indemnitee is or was a director, officer,
employee or agent of the Company, or any subsidiary of the Company, or by reason of the fact that Indemnitee is or was serving
at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust
or other enterprise, against expenses (including reasonable attorneys' fees) and, to the fullest extent permitted by law, amounts
paid in settlement actually and reasonably incurred by Indemnitee in connection with the defense or settlement of such action
or suit 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, except that no indemnification shall be made in respect of any claim, issue or matter as to which Indemnitee shall
have been finally adjudged to be liable to the Company unless and only to the extent that 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 such court shall deem proper.

 

    

     

    

 

(c) Proceedings
Definition.  For purposes of clarity, the term "proceeding" as used in Subsections (a) and (b) of this
Section 2, and throughout this Agreement, shall include any threatened, pending or completed action, suit, arbitration, alternate
dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding,
and whether of a civil, criminal, administrative legislative, or investigative nature, including any appeal therefrom, in which
Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise by reason of the fact that
Indemnitee is or was a director, officer or employee of the Company, by reason of any action taken by him or of any action on
his part while acting as director, officer or employee of the Company, or by reason of the fact that he is or was serving at the
request of the Company as a director, officer, employee or agent of another corporation, limited liability company, partnership,
joint venture, trust or other enterprise, in each case whether or not serving in such capacity at the time any liability or expense
is incurred for which indemnification, reimbursement, or advancement of expenses can be provided under this Agreement.

 

(d) Mandatory
Payment of Expenses. To the extent that Indemnitee has been successful on the merits or otherwise in defense of any action,
suit or proceeding referred to in Subsections (a) and (b) of this Section 2, or in defense of any claim, issue or matter therein,
Indemnitee shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by Indemnitee in
connection therewith.

 

3.             Expenses; Indemnification Procedure.

(a) Advancement
of Expenses. The Company shall advance all expenses incurred by Indemnitee in connection with the investigation,
defense, settlement or appeal of any civil or criminal action, suit or proceeding referenced in Section 2(a) or (b) hereof. Indemnitee
hereby undertakes to repay such amounts advanced 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 hereby. The advances to be made hereunder shall be paid by the
Company to Indemnitee within thirty (30) days following delivery of a written request therefor by Indemnitee to the Company.  As
used in this Agreement, “expenses” shall include, among other things, all reasonable attorneys' fees, retainers, court
costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone
charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection
with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise
participating in, an action, suit or proceeding.  Expenses also shall include (i) expenses incurred in connection with
any appeal resulting from any action, suit or proceeding, including without limitation the premium, security for, and other costs
relating to any cost bond, supersedes bond, or other appeal bond or its equivalent, and (ii) for purposes of Section 11 only,
expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee's rights under this
Agreement, by litigation or otherwise.  Expenses, however, for purposes of this Section 3(a), shall not include amounts
paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.  Advances shall be unsecured
and interest free.  Advances shall be made without regard to Indemnitee's ability to repay the expenses and without
regard to Indemnitee's ultimate entitlement to indemnification under the other provisions of this Agreement.  Advances
shall include any and all reasonable expenses incurred pursuing an action to enforce this right of advancement, including expenses
incurred preparing and forwarding statements to the Company to support the advances claimed.  The Indemnitee shall qualify
for advances upon the execution and delivery to the Company of this Agreement, which shall constitute an undertaking providing
that the Indemnitee undertakes to repay the advance to the extent that it is ultimately determined that Indemnitee is not entitled
to be indemnified by the Company. This Subsection 3(a) shall not apply to any claim made by Indemnitee for which indemnity is
excluded pursuant to Section 9 or to any Proceeding for which the Company has assumed the defense thereof in accordance with the
terms of this Agreement.

 

(b) Notice
by Indemnitee. Indemnitee shall notify the Company in writing in accordance with the provisions of Section 16
hereof of any matter with respect to which Indemnitee intends to seek indemnification or advancement of expenses hereunder as
soon as reasonably practicable following the receipt by Indemnitee of written notice thereof.  The written
notification to the Company shall include a description of the nature of the proceeding and the facts underlying the
proceeding.  To obtain indemnification under this Agreement, Indemnitee shall 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 following the final
disposition of such action, suit or proceeding.  Except to the extent such failure to provide notice or delay in
providing notice materially prejudices the Company, the failure by Indemnitee to notify the Company hereunder will not
relieve the Company from any liability which it may have to Indemnitee hereunder or otherwise than under this Agreement, and
any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights under this
Agreement.  The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise
the Board in writing that Indemnitee has requested indemnification.

    

     

    

 

(c)
Procedure. Any indemnification and advances provided for in Section 2 and this Section 3 shall be made no later
than thirty (30) days after receipt of the written request of Indemnitee. If a claim under this Agreement, under any statute,
or under any provision of the Company's Certificate of Incorporation or Bylaws providing for indemnification, is not paid in full
by the Company within thirty (30) days after a written request for payment thereof has first been received by the Company, Indemnitee
may, but need not, at any time thereafter bring an action against the Company to recover the unpaid amount of the claim and, subject
to Section 15 of this Agreement, Indemnitee shall also be entitled to be paid for the expenses (including reasonable attorneys'
fees) of bringing such action. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses
incurred in connection with any action, suit or proceeding in advance of its final disposition) that Indemnitee has not met the
standards of conduct which make it permissible under applicable law for the Company to indemnify Indemnitee for the amount claimed.
However, Indemnitee shall be entitled to receive interim payments of expenses pursuant to Subsection 3(a) unless and until such
defense may be finally adjudicated by court order or judgment from which no further right of appeal exists. It is the parties'
intention that if the Company contests lndemnitee's right to indemnification, the question of Indemnitee's right to indemnification
shall be for the court to decide, and neither the failure of the Company (including its Board of Directors, any committee or subgroup
of the Board of Directors, independent legal counsel, or its stockholders) to have made a determination that indemnification of
Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct required by applicable
law, nor an actual determination by the Company (including its Board of Directors, any committee or subgroup of the Board of Directors,
independent legal counsel, or its stockholders) that Indemnitee has not met such applicable standard of conduct, shall create
a presumption that Indemnitee has or has not met the applicable standard of conduct.

  

(d) Notice
to Insurers. If, at the time of the receipt of a notice of a claim pursuant to Section 3(b) hereof, the Company has
director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding
to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all
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 policies.

 

(e) Selection
of Counsel. In the event the Company shall be obligated under Section 3(a) hereof to pay the expenses of
any proceeding against Indemnitee, the Company, if appropriate, shall be entitled to assume the defense of such 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 and the retention of counsel reasonably acceptable to Indemnitee, the Company shall not be liable
to Indemnitee under this Agreement or otherwise for any expenses subsequently directly incurred by Indemnitee in connection with
Indemnitee's defense of such Claim, provided that (i) Indemnitee shall have the right to employ his counsel in any such proceeding
at Indemnitee's expense; and (ii) if (A) the employment of separate counsel by Indemnitee has been previously authorized by the
Company, (B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee
in the conduct of any such defense, or (C) the Company shall not, in fact, have employed counsel to assume the defense of such
proceeding, then the fees and expenses of Indemnitee's counsel shall be at the expense of the Company.

 

4.             Additional
Indemnification Rights; Nonexclusivity.

 

(a) Scope. Notwithstanding
any other provision of this Agreement, the Company hereby agrees to indemnify the Indemnitee to the fullest extent permitted
by law, notwithstanding that such indemnification is not specifically authorized by the other provisions of this Agreement,
the Company's Certificate of Incorporation, the Company's Bylaws or by statute. In the event of any change, after the date of
this Agreement, in any applicable law, statute, or rule which expands the right of a Delaware corporation to indemnify a
member of its board of directors, an officer or an employee, such changes shall be, ipso facto, within the purview of
Indemnitee's rights and Company's obligations, under this Agreement. In the event of any change in any applicable law,
statute or rule which narrows the right of a Delaware corporation to indemnify a member of its board of directors, an officer
or an employee, such changes, to the extent not otherwise required by such law, statute or rule to be applied to this
Agreement shall have no effect on this Agreement or the parties' rights and obligations hereunder.

    

     

    

 

(b) Nonexclusivity.
The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled
under the Company's Certificate of Incorporation, its Bylaws, any agreement, any vote of stockholders or disinterested Directors,
the General Corporation Law of the State of Delaware, or otherwise, both as to action in Indemnitee's official capacity and as
to action in another capacity while holding such office. The indemnification provided under this Agreement shall continue as to
Indemnitee for any action taken or not taken while serving in an indemnified capacity even though he may have ceased to serve
in such capacity at the time of any action, suit or other covered proceeding.

 

5.             Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by
the Company for some or a portion of the expenses, judgments, fines or penalties actually or reasonably incurred by him in the
investigation, defense, appeal or settlement of any civil or criminal action, suit or proceeding, but not, however, for the total
amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines or penalties
to which Indemnitee is entitled.

 

6.             Mutual
Acknowledgement. Both the Company and Indemnitee acknowledge that in certain instances, Federal law or
applicable public policy may prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise.
Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the
Securities and Exchange Commission 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.

 

 

7.             Officer
and Director Liability Insurance. The Company shall obtain and maintain a policy or policies of insurance with
reputable insurance companies to ensure the Company's performance of its indemnification obligations under this Agreement. In
all policies of director and officer liability insurance, Indemnitee shall be named as an insured in such a manner as to provide
Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company's directors, if Indemnitee
is a director; or of the Company's officers, if Indemnitee is not a director of the Company but is an officer or an employee.
Notwithstanding the foregoing, the Company shall have no obligation under this Agreement (although it may have such obligation
under other contractual arrangements or otherwise) to obtain or maintain such insurance if the Company determines in good faith
that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of
coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit,
or if Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company.

 

8.             Severability. Nothing
in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation
of applicable law. The Company's inability, pursuant to court order, to perform its obligations under this Agreement shall not
constitute a breach of this Agreement. The provisions of this Agreement shall be severable as provided in this Section 8. If this
Agreement or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall
nevertheless indemnify Indemnitee to the full extent permitted by any applicable portion of this Agreement that shall not have
been invalidated, and the balance of this Agreement not so invalidated shall be enforceable in accordance with its terms.

 

9.             Exceptions. Any other
provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

 

(a) Claims
Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to proceedings or claims initiated
or brought voluntarily by Indemnitee and not by way of defense, except with respect to proceedings brought to establish or enforce
a right to indemnification under this Agreement or any other statute or law or otherwise as required under Section 145 of the
Delaware General Corporation Law, but such indemnification or advancement of expenses may be provided by the Company in specific
cases if the Board of Directors has approved the initiation or bringing of such suit; or

    

     

    

 

(b) Lack
of Good Faith. To indemnify Indemnitee for any expenses incurred by the Indemnitee with respect to any proceeding
instituted by Indemnitee to enforce or interpret this Agreement, if a court of competent jurisdiction determines that each of
the material assertions made by the Indemnitee in such proceeding was not made in good faith or was frivolous; or 

 

(c) Insured
Claims. To indemnify Indemnitee for expenses or liabilities of any type whatsoever (including, but not limited
to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) which have been paid directly to Indemnitee
by an insurance carrier under a policy of officers' and directors' liability insurance maintained by the Company; or

 

(d) Claims
Under Section 16(b). To indemnify Indemnitee for expenses and 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; or

 

(e)
Impermissible Indemnification. To indemnify Indemnitee if a final decision by a court of competent jurisdiction determines
that such indemnification is prohibited by applicable law; or

 

(f)To
indemnify or advance funds to Indemnitee for Indemnitee's reimbursement to the Company of any bonus or other incentive-based or
equity-based compensation previously received by Indemnitee or payment of any profits realized by Indemnitee from the sale of
securities of the Company, as required in each case under the Securities Exchange Act of 1934, as amended, (including any such
reimbursements under Section 304 of the Sarbanes-Oxley Act of 2002 in connection with an accounting restatement of the Company,
the payment to the Company of profits arising from the purchase or sale by Indemnitee of securities in violation of Section 306
of the Sarbanes-Oxley Act or any reimbursements or clawbacks of compensation under Section 954 of the Dodd-Frank Wall Street Reform
and Consumer Protection Act).

 

10.             (a)  Reliance
as Safe Harbor.  For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good
faith if Indemnitee's action is based on the records or books of account of the Company, including financial statements, or on
information supplied to Indemnitee by the officers of the Company in the course of their duties, or on the advice of legal counsel
for the Company or on information or records given or reports made to the Company by an independent certified public accountant
or by an appraiser or other expert selected with the reasonable care by the Company.  The provisions of this Section
10(a) shall not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed
to have met the applicable standard of conduct set forth in this Agreement.

(b) Actions
of Others.  The knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the
Company shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.

 

11.             Intentions.  The
Company shall, to the fullest extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration
commenced relating to this Agreement that the procedures and presumptions of this Agreement are not valid, binding and enforceable
and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.  It
is the intent of the Company that the Indemnitee not be required to incur legal fees or other expenses associated with the interpretation,
enforcement or defense of Indemnitee's rights under this Agreement by litigation or otherwise because the cost and expense thereof
would substantially detract from the benefits intended to be extended to the Indemnitee hereunder.  The Company shall
indemnify Indemnitee against any and all expenses and, if requested by Indemnitee, shall (within thirty (30) days after receipt
by the Company of a written request therefor) advance, to the extent not prohibited by law, such expenses to Indemnitee, which
are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advance of expenses from
the Company under this Agreement or under any directors' and officers' liability insurance policies maintained by the Company,
regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of expenses or insurance
recovery, as the case may be.

 

    

     

    

  

12.             Construction
of Certain Phrases.

  

(a) For
purposes of this Agreement, references to the "Company" shall include, 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 if Indemnitee 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 or other enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to
the resulting or surviving corporation as Indemnitee would have with respect to such constituent corporation if its separate existence
had continued. 

 

(b) For
purposes of this Agreement, references to "other enterprises" shall include employee benefit plans; references to "fines"
shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; and references to "serving
at the request of the Company" shall include 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; and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the interest of
the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner "not
opposed to the best interests of the Company" as referred to in this Agreement.

 

13.             Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall constitute an original.

 

14.             Successors
and Assigns. This Agreement shall be binding upon the Company and its successors and assigns, and shall inure
to the benefit of Indemnitee and Indemnitee's estate, heirs, legal representatives and assigns.

 

15.             Attorneys'
Fees. In the event that any action is instituted by Indemnitee under this Agreement to enforce or interpret
any of the terms hereof, Indemnitee shall be entitled to be paid all court costs and expenses, including reasonable attorneys'
fees, incurred by Indemnitee with respect to such action, unless as a part of such action, the court of competent jurisdiction
determines that each of the material assertions made by Indemnitee as a basis for such action were not made in good faith or were
frivolous. In the event of an action instituted by or in the name of the Company under this Agreement or to enforce or interpret
any of the terms of this Agreement, Indemnitee shall be entitled to be paid all court costs and expenses, including reasonable
attorneys' fees, incurred by Indemnitee in defense of such action (including with respect to Indemnitee's counterclaims and cross-claims
made in such action), unless as a part of such action the court determines that each of Indemnitee's material defenses to such
action were made in bad faith or were frivolous.

 

16.
             Notice. All notices, requests, demands and other communications under this Agreement shall be in writing and shall
be deemed duly given (i) if delivered by hand and receipted for by the party addressee, on the date of such receipt, (ii) if mailed
by domestic certified or registered mail with postage prepaid, on the third business day after the date postmarked, or (iii) mailed
by reputable overnight courier and receipted for by the party addressee, on the date of such receipt. Addresses for notice to
either party are as shown on the signature page of this Agreement, or as subsequently modified by written notice.

  

17.             Consent
to Jurisdiction. The Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any
action or proceeding arising out of or in connection with this Agreement shall be brought only in the Delaware Court and not in
any other state or federal court in the United States, (b) consent to submit to the exclusive jurisdiction of the Delaware Court
for purposes of any action or proceeding arising out of or in connection with this Agreement, (c) appoint, to the extent such
party is not otherwise subject to service of process in the State of Delaware, United Corporate Services, Inc., 874 Walker Road,
Suite C, Dover, DE 19904 as its agent in the State of Delaware for acceptance of legal process in connection with any such action
or proceeding against such party with the same legal force and validity as if served upon such party personally within the State
of Delaware and (d) waive, and agree not to plead or make, any claim that the Delaware Court lacks venue or that any such action
or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

    

     

    

18.             Choice
of Law. This Agreement shall be governed by and its provisions construed in accordance with the laws of the State of Delaware,
without regard to the conflict of law principles thereof.

 

19.             Duration
of Agreement.  This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the
date that Indemnitee shall have ceased to serve as a director, officer or employee of the Company or, at the request of the Company,
as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise or (b) two (2) years after the final termination of any proceeding then pending in respect of which Indemnitee
is granted rights of indemnification or advancement of expenses hereunder and of any proceeding commenced by Indemnitee to enforce
the provisions of this Agreement relating thereto.  This Agreement shall be binding upon the Company and its successors
and assigns and shall inure to the benefit of Indemnitee and his heirs, executors and administrators.

 

20.             Subrogation. In
the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all documents required and shall do all acts that maybe necessary to secure such
rights and to enable the Company effectively to bring suit to enforce such rights.

 

21.             Amendment
and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective
unless it is in writing signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed
or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing
waiver.

 

22.             Integration
and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and
supersedes and merges all previous written and oral negotiations, commitments, understandings and agreements relating to the subject
matter hereof between the parties hereto.

  

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

 

 

	 MYnd
                           Analytics, Inc.

         
	 	 	INDEMNITEE	 
	By:	 	 	 	 
	Name: 	 	 	Name: 	 
	Title: 	 	 	Title: 	 
	 

        MYnd
        Analytics, Inc.

        85
        Enterprise, Suite 410

        Aliso
        Viejo, CA 92656
	 	 	 

        Indemnitee
        Address:

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