Document:

Exhibit
10.1 

 

MYND
ANALYTICS, INC.

FORM OF INDEMNIFICATION AGREEMENT

 

This
Indemnification Agreement (“Agreement”) is made as of September ___, 2017 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;

 

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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 servicing 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.

 

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(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, reasonable 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.

 

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(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 Indemnitee’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.

 

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		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.

 

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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 l 6(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 l 6(b) of the Securities Exchange Act of 1934, as amended, or any similar successor
statute; or

 

(e)       Claims
by the Company for Willful Misconduct. To indemnify or advance expenses to the Indemnitee under this Agreement for any expenses
incurred by the Indemnitee with respect to any proceeding or claim brought by the Company against the Indemnitee for willful misconduct,
unless a court of competent jurisdiction determines that each of such claims was not made in good faith or was frivolous; or

 

(f)       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

 

(g)       Willful
Misconduct. To indemnify the Indemnitee on account of the Indemnitee’s conduct which is finally adjudged to have been
knowingly fraudulent or deliberately dishonest, or to constitute willful misconduct; or

 

(h)       Forfeiture
of Certain Bonuses and Profits. 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 claw backs
of compensation under Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act).

 

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10.
                  Safe Harbor: Actions
of Others.

 

(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)       Company.
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)       Other
Enterprises. 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.

 

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 13.                   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.

 

 14.                   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.

 

 15.                   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.

 

 16.                   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, and (c) 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.

 

 17.                   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.

 

18.                  
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. 

 

19.
                  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.

 

20.                  
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.

 

    8

     

    

 

21.
                  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.

 

22.                   Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be
deemed to be one and the same agreement. A signed copy of this Agreement delivered by e-mail or other means of Electronic
Transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.
“Electronic Transmission” means any form of communication not directly involving the physical transmission of
paper that creates a record that may be retained, retrieved and reviewed by a recipient thereof and that may be directly
reproduced in paper form by such a recipient through an automated process, including, but not limited to, electronic
mail.

 

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:	 	 	 
	Address for Notice:	 	Address for Indemnitee:
	26522 La Alameda #290	 	 	 	 	 
	Mission Viejo, CA 9269	 	 	 	 	 
	 	 	 	 	 	 	 

 

    9Two Rivers Water & Farming Company 8-K

 

EXHIBIT
10.1

 

NEITHER
THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS PROMISSORY HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE.  THESE SECURITIES HAVE BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR
SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS.

 

Two
Rivers Water & Farming Company 

 

Promissory
Note

 

	Issuance Date:  April
    26, 2017	Original
    Principal Amount:  $330,000
	Note No. BME1	Consideration Paid
    at Close:   $300,000

 

FOR
VALUE RECEIVED, Two Rivers Water & Farming Company, a Colorado corporation (the “Company”), hereby
promises to pay to the order of Black Mountain Equities Inc. or registered assigns (the “Holder”) the
amount set out above as the Original Principal Amount (together with any other Outstanding Balance, as defined below) upon the
Maturity Date (as defined below) in accordance with the terms hereof, which amount includes interest deemed to be accrued on the
Original Principal Amount as set forth herein.

 

The
Original Principal Amount is $330,000 (three hundred thirty thousand dollars).  The Consideration is $300,000 (three
hundred thousand dollars) payable by wire transfer.  The Holder shall pay $300,000 of Consideration upon closing of
this Note. For purposes hereof, the term “Outstanding Balance” means the Original Principal Amount, as reduced
or increased, as the case may be, pursuant to the terms hereof, breach hereof or otherwise, plus any collection and enforcements
costs, and any other fees or charges incurred under this Note. 

 

(1)           GENERAL
TERMS

 

(a)           Payment
of Outstanding Balance.  The “Maturity Date” shall be October 26, 2017, and may be extended at
the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred
and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and
be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure
to cure would result in an Event of Default.

 

    4

     

    

 

(b)           Interest.
A one-time interest charge of ten percent (10%) of the Consideration, or $30,000 (thirty thousand dollars), shall be applied on
the Issuance Date and is included in the Original Principal Amount. Interest hereunder shall be paid on the Maturity Date (or
sooner as provided herein) to the Holder or its assignee, by payment of the Original Principal Amount.

 

(c)           Security.  This
Note shall not be secured by any collateral or any assets pledged to the Holder.

 

(d)           Pre-Payment.
The Company will be allowed to pre-pay the note to the Holder in whole or in part at any time without any pre-payment penalty.

 

(2)           EVENTS
OF DEFAULT.

 

(a)           An
“Event of Default”, wherever used herein, means any one of the following events (whatever the reason and whether
it shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court,
or any order, rule or regulation of any administrative or governmental body):

 

(i)           The
Company’s failure to pay to the Holder any amount of the Outstanding Balance `when and as due under this
Note.

 

(ii)          The
Common Stock is suspended or delisted for trading on the Over the Counter Bulletin Board market (the “Primary Market”).

 

(iii)      
  The Company’s Common Stock trades at or below a price of $0.01 as reported by the OTC Markets
website.

 

(iv)     
   The Company loses its status as “DTC Eligible.”

 

(viii)     
The Company shall becomes delinquent in its filing requirements as a fully-reporting issuer registered with the
Securities & Exchange Commission.

 

(b)           Upon
the occurrence of any Event of Default, the Outstanding Balance shall immediately increase to 120% of the Outstanding Balance
immediately prior to the occurrence of the Event of Default (the “Default Effect”). The Default Effect shall
automatically apply upon the occurrence of an Event of Default without the need for any party to give any notice or take any other
action.

 

(6)           REISSUANCE
OF THIS NOTE.

 

(a)           Assignability.
The Company may not assign this Note.  This Note will be binding upon the Company and its successors and will inure
to the benefit of the Holder and its successors and assigns and may be assigned by the Holder to anyone of its choosing without
Company’s approval.

 

    5

     

    

 

(b)           Lost,
Stolen or Mutilated Note.  Upon receipt by the Company of evidence reasonably satisfactory to the Company of the
loss, theft, destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking
by the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the
Company shall execute and deliver to the Holder a new Note representing the outstanding Principal.

 

(7)           NOTICES. 
Any notices, consents, waivers or other communications required or permitted to be given under the terms hereof must be in writing
and will be deemed to have been delivered:  (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party) (iii) upon receipt, when sent by email; or (iv) one (1) Business Day after deposit with a nationally recognized overnight
delivery service, in each case properly addressed to the party to receive the same.  The addresses and facsimile numbers
for such communications shall be those set forth in the communications and documents that each party has provided the other immediately
preceding the issuance of this Note or at such other address and/or facsimile number and/or to the attention of such other person
as the recipient party has specified by written notice given to each other party three (3) Business Days prior to the effectiveness
of such change.  Written confirmation of receipt (i) given by the recipient of such notice, consent, waiver or other
communication, (ii) mechanically or electronically generated by the sender’s facsimile machine containing the time, date,
recipient facsimile number and an image of the first page of such transmission or (iii) provided by a nationally recognized overnight
delivery service, shall be rebuttable evidence of personal service, receipt by facsimile or receipt from a nationally recognized
overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

The
addresses for such communications shall be:

 

If
to the Company, to:

 

Two
Rivers Water & Farming Company

3025
South Parker Rd. Suite 140

Aurora
Co. 80014

Attn:  
CEO

Email:  wayne.harding@2riverswater.com

 

If
to the Holder:

 

BLACK
MOUNTAIN EQUITIES, INC.

13366
Greenstone Court

San
Diego CA 92131

Attn:
Adam Baker

Email:
adam@blackmountainequities.com

 

    6

     

    

 

(9)           APPLICABLE
LAW AND VENUE. This Note shall be governed by and construed in accordance with the laws of the State of Nevada, without giving
effect to conflicts of laws thereof.  Any action brought by either party against the other concerning the transactions
contemplated by this Agreement shall be brought only in the state courts of Nevada or in the federal courts located in the city
and county of San Diego, in the State of Nevada. Both parties and the individuals signing this Agreement agree to submit to the
jurisdiction of such courts.

 

(10)         WAIVER.  Any
waiver by the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver of any other
breach of such provision or of any breach of any other provision of this Note. The failure of the Holder to insist upon strict
adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that party of the right
thereafter to insist upon strict adherence to that term or any other term of this Note. Any waiver must be in writing.

 

    7

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