Document:

EX-10.1

 Exhibit 10.1 

FORM OF 
 INDEMNIFICATION AGREEMENT

 This Indemnification Agreement, dated as of
                    , 2014, is made by and between iCAD, Inc., a Delaware corporation (the “Corporation”), and
[                    ] (the “Indemnitee”). 

RECITALS 
 A. The Corporation
recognizes that competent and experienced persons are increasingly reluctant to serve or to continue to serve as directors or officers of corporations unless they are protected by comprehensive liability insurance or indemnification, or both, due to
increased exposure to litigation costs and risks resulting from their service to such corporations, and due to the fact that the exposure frequently bears no reasonable relationship to the compensation of such directors and officers; 

B. The statutes and judicial decisions regarding the duties of directors and officers are often difficult to apply, ambiguous, or conflicting,
and therefore fail to provide such directors and officers with adequate, reliable knowledge of legal risks to which they are exposed or information regarding the proper course of action to take; 

C. The Corporation and Indemnitee recognize that plaintiffs often seek damages in such large amounts and the costs of litigation may be so
enormous (whether or not the case is meritorious), that the defense and/or settlement of such litigation is often beyond the personal resources of directors and officers; 

D. The Corporation believes that it is unfair for its directors and officers to assume the risk of huge judgments and other expenses which may
occur in cases in which the director or officer received no personal profit and in cases where the director or officer was not culpable; 

E. The Corporation’s Certificate of Incorporation and By-Laws require the Corporation to indemnify its directors and officers to the
fullest extent permitted by the Delaware General Corporation Law (the “DGCL”). The Certificate of Incorporation and By-Laws expressly provide that the indemnification provisions set forth therein are not exclusive, and contemplate that
agreements may be entered into between the Corporation and its directors and officers with respect to indemnification; 
 F.
Section 145 of the DGCL (“Section 145”), under which the Corporation is organized, empowers the Corporation to indemnify its officers, directors, employees and agents by agreement and to indemnify persons who serve, at the request of
the Corporation, as the directors, officers, employees or agents of other corporations or enterprises, and expressly provides that the indemnification provided by Section 145 is not exclusive; 

G. This Agreement is a supplement to and in furtherance of the Certificate of Incorporation and the By-Laws of the Corporation and shall not
be deemed a substitute therefor nor to diminish or abrogate the rights of the Indemnitee thereunder; 

 H. Section 102(b)(7) of the DGCL allows a corporation to include in its certificate of
incorporation a provision limiting or eliminating the personal liability of a director for monetary damages in respect of claims by shareholders and corporations for breach of certain fiduciary duties, and the Corporation has provided in its
Certificate of Incorporation that no director shall be personally liable to the Corporation or its stockholders for any monetary damages for breaches of fiduciary duty as a director, provided that this provision shall not eliminate or limit the
liability of a director (i) for any breach of the director’s duty of loyalty to the Corporation or its stockholders; (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;
(iii) under Section 174 of the General Corporation Law of the State of Delaware; or (iv) for any transaction from which the director derived an improper personal benefit; 

I. The Board of Directors has determined that contractual indemnification as set forth herein is not only reasonable and prudent but also
promotes the best interests of the Corporation and its stockholders; 
 J. The Corporation desires and has requested Indemnitee to serve or
continue to serve as a director, officer or employee of the Corporation or another corporation or enterprise free from undue concern for unwarranted claims for damages arising out of or related to such services; and 

J. Indemnitee is willing to serve, continue to serve or to provide additional service for or on behalf of the Corporation or such other
corporation or enterprise on the condition that he is furnished the indemnity provided for herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 Section
1. GENERALLY. 
 To the fullest extent permitted by the laws of the State of Delaware: 

(a) The Corporation shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to any threatened, pending
or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (internal or external), including, without limitation, any action or suit by or in the right of the Corporation to procure a judgment in its favor, by
reason of the fact that Indemnitee is or was or has agreed to serve at the request of the Corporation as a director, officer, employee or agent of the Corporation, or is or was serving or has agreed to serve at the request of the Corporation as a
director, officer, employee or agent (which, for purposes hereof, shall include a trustee, partner or manager or similar capacity) of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of
any action alleged to have been taken or omitted in such capacity. For the avoidance of doubt, the foregoing indemnification obligation includes, without limitation, claims for monetary damages against Indemnitee in respect of an alleged breach of
fiduciary duties, to the fullest extent permitted under Section 102(b)(7) of the DGCL as in existence from time to time. 

  
 2 

 (b) The indemnification provided by this Section 1 shall be from and against expenses
(including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such action, suit or proceeding and any appeal therefrom, but shall
only be provided if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action, suit or proceeding, had no reasonable cause
to believe Indemnitee’s conduct was unlawful. 
 (c) Notwithstanding the foregoing provisions of this Section 1, in the case of
any threatened, pending or completed action or suit by or in the right of the Corporation 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 Corporation, or is or was
serving or has agreed to serve at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, no indemnification shall be made in
respect of any claim, issue or matter as to which Indemnitee shall have been adjudged to be liable to the Corporation unless, and only to the extent that, the Delaware Court of Chancery or the court in which such action or suit was brought shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which the Delaware Court of Chancery or such other
court shall deem proper. 
 (d) The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea
of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and,
with respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee’s conduct was unlawful. 
 Section
2. SUCCESSFUL DEFENSE; PARTIAL INDEMNIFICATION. 
 (a) To the extent that Indemnitee has been successful on the merits or otherwise in
defense of any action, suit or proceeding referred to in Section 1 hereof or in defense of any claim, issue or matter therein, Indemnitee shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred in
connection therewith. For purposes of this Agreement and without limiting the foregoing, if any action, suit or proceeding is disposed of, on the merits or otherwise (including a disposition with or without prejudice), without (i) an
adjudication (which has not been appealed or challenged) that Indemnitee was liable to the Corporation, (ii) a plea of guilty or nolo contendere by Indemnitee, (iii) an adjudication (which has not been appealed or challenged) that
Indemnitee did not act in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and (iv) with respect to any criminal proceeding, an adjudication (which has not been appealed
or challenged) that Indemnitee had reasonable cause to believe Indemnitee’s conduct was unlawful, then Indemnitee shall be considered for the purposes hereof (including, without limitation, for the purposes of Section 3, below) to have
been wholly successful with respect thereto. 

  
 3 

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

Section 3. DETERMINATION THAT INDEMNIFICATION IS PROPER. Any indemnification hereunder shall (unless otherwise ordered by a court) be made by
the Corporation upon a determination that indemnification of such person is proper in the circumstances because he or she has met the applicable standard of conduct set forth in Section 1(b) hereof. Any such determination, with respect to an
Indemnitee who is an officer or director at the time of such determination, shall be made (i) by a majority vote of the directors who are not parties to the action, suit or proceeding in question (“disinterested directors”), even if
less than a quorum, (ii) by a majority vote of a committee of disinterested directors designated by majority vote of disinterested directors, even if less than a quorum, (iii) by a vote of the stockholders of the Corporation, or
(iv) by independent legal counsel. The foregoing notwithstanding (i) to the extent permitted by the DGCL, no such determination shall be required in the event and to the extent that Indemnitee has been successful on the merits or otherwise
in defense of any action, suit or proceeding referred to in Section 1 hereof or in defense of any claim, issue or matter therein, and (ii) any determination being made under this Section 3 being made following a Change of Control
shall be made by Independent Counsel (as each such term is defined below). 
 Section 4. ADVANCE PAYMENT OF EXPENSES; NOTIFICATION AND
DEFENSE OF CLAIM. 
 (a) Expenses and costs (including, without limitation, attorneys’ fees, retainers, court costs, transcript costs,
fees of experts, witness fees, travel expenses, duplicating costs, telephone charges, postage and delivery service fees) incurred by Indemnitee in defending a threatened or pending civil, criminal, administrative, internal investigation or
investigative action, suit or proceeding (or in connection with an action, suit or proceeding instituted by Indemnitee to enforce this Agreement pursuant to Section 5(b), below), shall be paid by the Corporation in advance of the final
disposition of such action, suit or proceeding within ten (10) days after receipt by the Corporation of (i) a statement or statements from Indemnitee requesting such advance or advances from time to time, and (ii) an undertaking by or
on behalf of Indemnitee to repay such amount or amounts, only if, and to the extent that, it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Corporation as authorized by this Agreement or otherwise. Such
undertaking shall be accepted without reference to the financial ability of Indemnitee to make such repayment. Advances shall be unsecured and interest-free. 

  
 4 

 (b) Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or
proceeding, Indemnitee shall, if a claim hereunder is to be made against the Corporation with respect thereto, notify the Corporation of the commencement thereof. The failure to promptly notify the Corporation of the commencement of the action, suit
or proceeding, or Indemnitee’s request for indemnification, will not relieve the Corporation from any liability that it may have to Indemnitee hereunder, except to the extent the Corporation is prejudiced in its defense of such action, suit or
proceeding as a result of such failure. 
 (c) In the event the Corporation shall be obligated to pay the expenses of Indemnitee with
respect to an action, suit or proceeding, as provided in this Agreement, the Corporation shall be entitled to assume the defense of such action, suit or proceeding, with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of
written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Corporation, the Corporation will not be liable to Indemnitee under this Agreement for any fees
of counsel subsequently incurred by Indemnitee with respect to the same action, suit or proceeding, provided that (1) Indemnitee shall have the right to employ Indemnitee’s own counsel in such action, suit or proceeding at
Indemnitee’s expense and (2) if (i) the employment of counsel by Indemnitee has been previously authorized in writing by the Corporation, (ii) counsel to the Corporation or Indemnitee shall have reasonably concluded that there
may be a conflict of interest or position, or reasonably believes that a conflict is likely to arise, on any significant issue between the Corporation and Indemnitee in the conduct of any such defense, or (iii) the Corporation shall not, in
fact, have employed counsel to assume the defense of such action, suit or proceeding, then the fees and expenses of Indemnitee’s counsel shall be at the expense of the Corporation, except as otherwise expressly provided by this Agreement. The
Corporation shall not be entitled, without the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Corporation or as to which counsel for the Corporation or Indemnitee shall have reasonably made the conclusion
provided for in clause (ii) above. 
 (d) Notwithstanding any other provision of this Agreement to the contrary, to the extent that
Indemnitee is, by reason of Indemnitee’s corporate status with respect to the Corporation or any corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which Indemnitee is or was serving or has agreed to serve
at the request of the Corporation, a witness or otherwise participates in any action, suit or proceeding at a time when Indemnitee is not a party in the action, suit or proceeding, the Corporation shall indemnify Indemnitee against all expenses
(including attorneys’ fees) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith, and make advancement thereof under this Section 4. 

Section 5. PROCEDURE FOR INDEMNIFICATION 

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

  
 5 

 (b) The Corporation’s determination whether to grant Indemnitee’s indemnification
request shall be made promptly, and in any event within 60 days following receipt of a request for indemnification pursuant to Section 5(a). The right to indemnification as granted by Section 1 of this Agreement shall be enforceable by
Indemnitee in any court of competent jurisdiction if the Corporation denies such request, in whole or in part, or fails to respond within such 60-day period. It shall be a defense to any such action (other than an action brought to enforce a claim
for the advance of costs, charges and expenses under Section 4 hereof where the required undertaking, if any, has been received by the Corporation) that Indemnitee has not met the standard of conduct set forth in Section 1 hereof, but the
burden of proving such defense shall be on the Corporation as provided in subsection (c) below. Neither the failure of the Corporation (including its Board of Directors or one of its committees, its independent legal counsel, and its
stockholders) to have made a determination prior to the commencement of such action that indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct set forth in Section 1 hereof,
nor the fact that there has been an actual determination by the Corporation (including its Board of Directors or one of its committees, its independent legal counsel, and its stockholders) that Indemnitee has not met such applicable standard of
conduct, shall be a defense to the action or create a presumption that Indemnitee has or has not met the applicable standard of conduct. The Indemnitee’s expenses (including attorneys’ fees) incurred in connection with successfully
establishing Indemnitee’s right to indemnification, in whole or in part, in any such proceeding or otherwise shall also be indemnified by the Corporation, and the Corporation shall advance such expenses pursuant to Section 4, above. 

(c) The Indemnitee shall be presumed to be entitled to indemnification under this Agreement upon submission of a request for indemnification
pursuant to this Section 5, and the Corporation shall have the burden of proof by clear and convincing evidence in overcoming that presumption in reaching a determination contrary to that presumption. Such presumption shall be used as a basis
for a determination of entitlement to indemnification unless the Corporation overcomes such presumption by clear and convincing evidence. 

Section 6. INSURANCE AND SUBROGATION. 

(a) The Corporation shall purchase and maintain insurance on behalf of Indemnitee who is or was or has agreed to serve at the request of the
Corporation as a director or officer of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise against any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf in any such capacity, or arising out of Indemnitee’s status as such, whether or not the Corporation would have the power to indemnify
Indemnitee against such liability under the provisions of this Agreement, and shall maintain “tail coverage” in effect for six years after the termination of the last such service. Such coverage shall include “insuring clause A”,
commonly known as “Side A Coverage”, or similar coverage pursuant to which the Indemnitee as an individual, and not the Corporation, is the insured party, with reasonable limits, retentions and other terms and conditions. If the
Corporation has such insurance in effect at the time the Corporation receives from Indemnitee any notice of the commencement of a proceeding, the Corporation shall give prompt notice of the commencement of such proceeding to the insurers in
accordance with the procedures set forth in the policy. The Corporation shall 

  
 6 

 
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 policy. 
 (b) In the event of any payment by the Corporation under this Agreement, the Corporation shall be subrogated to the extent
of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to
enable the Corporation to bring suit to enforce such rights in accordance with the terms of such insurance policy. The Corporation shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee in connection with such
subrogation. 
 (c) The Corporation shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable
hereunder (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) if and to the extent that Indemnitee has otherwise actually received such payment under this Agreement or any insurance
policy, contract, agreement or otherwise. 
 Section 7. CERTAIN DEFINITIONS. For purposes of this Agreement, the following definitions shall
apply: 
 (a) The term “action, suit or proceeding” shall be broadly construed and shall include, without limitation, the
investigation, internal investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, the giving of testimony in, and the being interviewed by any governmental authority in connection with, any threatened, pending or
completed claim, action, suit or proceeding, whether formal or informal, civil, criminal, administrative, legislative or investigative, in each case, to which the Indemnitee was or is a party or is threatened to be made a party. 

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

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

  
 7 

 (d) The term “judgments, fines and amounts paid in settlement” shall be broadly
construed and shall include, without limitation, all direct and indirect payments of any type or nature whatsoever (including, without limitation, all penalties and amounts required to be forfeited or reimbursed to the Corporation), as well as any
penalties or excise taxes assessed on a person with respect to an employee benefit plan. 
 (e) The term “Corporation” shall
include, without limitation and in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had
power and authority to indemnify its directors, officers, and employees or agents, so that any person who is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent
corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, shall stand in the same position under the provisions of this Agreement with respect to the
resulting or surviving corporation as he or she would have with respect to such constituent corporation if its separate existence had continued. The Corporation shall require and cause any direct or indirect successor (whether by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or assets of the Corporation, by written agreement in form and substance reasonably satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the
same manner and to the same extent that the Corporation would be required to perform if no such succession had taken place. 
 (f) The term
“other enterprises” shall include, without limitation, employee benefit plans. 
 (g) The term “Independent Counsel”
shall mean a law firm or member thereof that is experienced in matters of Delaware corporate law that is not a party or counsel to a party with respect to the proceeding at issue. Notwithstanding the foregoing, Independent Counsel shall not include
any person or firm that would under applicable standards of professional conduct have a conflict of interest in representing either Indemnitee or Corporation. The Corporation may at any time designate counsel as Independent Counsel in writing,
provided that, if Indemnitee reasonably objects to the Corporation’s designee, Indemnitee shall have ten days within which to notify the Corporation of such objection and designate alternate counsel in writing. If such alternate counsel is not
acceptable to the Corporation, the two counsels shall together (within ten days from designation of counsel by the Indemnitee) designate a third counsel to be Independent Counsel. 

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

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

  
 8 

 (j) A “Change of Control” shall be deemed to occur upon the earliest to occur after the
date of this agreement of any of the following events: 
 (A) Acquisition of Stock by Third Party. Any Person (as defined below) is or
becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Corporation representing twenty percent (20%) or more of the combined voting power of the Corporation’s then outstanding securities; 

(B) Change in the Board. During any period of two (2) consecutive years (not including any period prior to the execution of this
Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Corporation to effect a transaction described in Sections
7(j)(A), 7(c)(C) or 7(j)(D)) whose election by the Board or nomination for election by the Corporation’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning
of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board; 

(C) Corporate Transactions. The effective date of a merger or consolidation of the Corporation with any other entity, other than a merger or
consolidation which would result in the voting securities of the Corporation outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) more than 51% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or
other governing body of such surviving entity; 
 (D) Liquidation. The approval by the stockholders of the Corporation of a liquidation of
the Corporation or an agreement for the sale or disposition by the Corporation of all or substantially all of the Corporation’s assets; and 

(E) Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule
14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Corporation is then subject to such reporting requirement. 

For purposes of this Section 7(j), the following terms shall have the following meanings: 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations
promulgated thereunder. 
 “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act (including
without limitation any two or more persons acting as a group and deemed to be a single person under Section 13(d) pursuant to Section 13(d)(3) and Rule 13d-5 promulgated thereunder); provided, however, that Person shall exclude
(i) the Corporation, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Corporation, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Corporation in
substantially the same proportions as their ownership of stock of the Corporation. 

  
 9 

 “Beneficial Owner” shall have the meaning given to such term in Rule 13d-3 under the
Exchange Act; provided, however, that Beneficial Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Corporation approving a merger of the Corporation with another entity. 

Section 8. LIMITATION ON INDEMNIFICATION. Notwithstanding any other provision herein to the contrary, the Corporation shall not be obligated
pursuant to this Agreement: 
 (a) CLAIMS INITIATED BY INDEMNITEE. To indemnify or advance expenses to Indemnitee with respect to an action,
suit or proceeding (or part thereof) initiated by Indemnitee, except with respect to an action, suit or proceeding brought to establish or enforce a right to indemnification (which shall be governed by the provisions of Section 8(b) of this
Agreement), unless such action, suit or proceeding (or part thereof) was authorized or consented to by the Board of Directors of the Corporation. 

(b) ACTION FOR INDEMNIFICATION. To indemnify Indemnitee for any expenses incurred by Indemnitee with respect to any action, suit or proceeding
instituted by Indemnitee to enforce or interpret this Agreement, unless Indemnitee is successful in establishing Indemnitee’s right to indemnification in such action, suit or proceeding, in whole or in part, or unless and to the extent that the
court in such action, suit or proceeding shall determine that, despite Indemnitee’s failure to establish Indemnitee’s right to indemnification, Indemnitee is entitled to indemnity for such expenses; provided, however, that nothing in this
Section 8(b) is intended to limit the Corporation’s obligation with respect to the advancement of expenses to Indemnitee in connection with any such action, suit or proceeding instituted by Indemnitee to enforce or interpret this
Agreement, as provided in Section 4 hereof. 
 (c) SECTION 16 VIOLATIONS. To indemnify Indemnitee on account of any proceeding with
respect to which final judgment is rendered against Indemnitee for payment or an accounting of profits arising from the purchase or sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as
amended, or any similar successor statute. 
 (d) NON-COMPETE AND NON-DISCLOSURE. To indemnify Indemnitee in connection with proceedings or
claims brought by the Corporation in good faith seeking the enforcement against the Indemnitee of non-compete and/or non-disclosure agreements to which Indemnitee is a party with the Corporation or any subsidiary of the Corporation, or the
non-compete and/or non-disclosure provisions of employment, consulting or similar agreements to which the Indemnitee is a party with the Corporation or any subsidiary of the Corporation. 

Section 9. CERTAIN SETTLEMENT PROVISIONS. The Corporation shall have no obligation to indemnify Indemnitee under this Agreement for amounts
paid in settlement of any action, suit or proceeding without the Corporation’s prior written consent, which shall not be unreasonably withheld. The Corporation shall not settle any action, suit or proceeding in any

  
 10 

 
manner that would impose any fine not indemnified hereunder or any affirmative or restrictive obligation on Indemnitee, or that would contain any consent to judgment or admission of culpability
on the part of Indemnitee, without Indemnitee’s prior written consent, which consent may be withheld by Indemnitee in his or her reasonable discretion. 

Section 10. SAVINGS CLAUSE. If any provision or provisions of this Agreement shall be invalidated on any ground by any court of competent
jurisdiction, then the Corporation shall nevertheless indemnify Indemnitee as to costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether
civil, criminal, administrative or investigative, including an action by or in the right of the Corporation, to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated and to the full extent
permitted by applicable law. 
 Section 11. CONTRIBUTION. In order to provide for just and equitable contribution in circumstances in which
the indemnification provided for herein is held by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Corporation shall, to the fullest extent permitted by law, contribute to
the payment of Indemnitee’s costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative,
in an amount that is just and equitable in the circumstances, taking into account, among other things, contributions by other directors and officers of the Corporation or others pursuant to indemnification agreements or otherwise; provided, that,
without limiting the generality of the foregoing, such contribution shall not be required where such holding by the court is due to (i) the failure of Indemnitee to meet the standard of conduct set forth in Section 1 hereof, or
(ii) any limitation on indemnification set forth in Section 6(c), 8 or 9 hereof. 
 Section 12. FORM AND DELIVERY OF
COMMUNICATIONS. Any notice, request or other communication required or permitted to be given to the parties under this Agreement shall be in writing and either delivered in person or sent by overnight mail or courier service, or certified or
registered mail, return receipt requested, postage prepaid, and in each case shall be deemed given upon receipt, to the parties at the following addresses (or at such other addresses for a party as shall be specified by like notice): 

 

			
		 	If to the Corporation:
		 	  
 iCAD, Inc.

98 Spit Brook Road, Suite 100

Nashua, NH 03062
  

		 	If to Indemnitee:
		
	  
	 	   

		
	  
	 	   

		
	  
	 	   

  
 11 

 With a copy to: 

Section 13. SUBSEQUENT LEGISLATION. If the DGCL is amended after adoption of this Agreement to expand further the indemnification permitted to
directors or officers, then the Corporation shall indemnify Indemnitee to the fullest extent permitted by the DGCL, as so amended. If the DGCL is amended after adoption of this Agreement to restrict or reduce the indemnification permitted to
directors or officers, then the Corporation shall indemnify Indemnitee to the fullest extent permitted by this Agreement, such amendments to the DGCL notwithstanding. 

Section 14. NONEXCLUSIVITY. The provisions for indemnification and advancement of expenses set forth in this Agreement shall not be deemed
exclusive of any other rights which Indemnitee may have under any provision of law, the Corporation’s Certificate of Incorporation or By-Laws, in any court in which a proceeding is brought, the vote of the Corporation’s stockholders or
disinterested directors, other agreements or otherwise, and Indemnitee’s rights hereunder shall continue after Indemnitee has ceased acting as an agent of the Corporation and shall inure to the benefit of the heirs, executors and administrators
of Indemnitee. However, no amendment or alteration of the Corporation’s Certificate of Incorporation or By-Laws or any other agreement shall adversely affect the rights provided to Indemnitee under this Agreement 

Section 15. ENFORCEMENT. The Corporation shall be precluded from asserting in any judicial proceeding that the procedures and presumptions of
this Agreement are not valid, binding and enforceable. The Corporation agrees that its execution of this Agreement shall constitute a stipulation by which it shall be irrevocably bound in any court of competent jurisdiction in which a proceeding by
Indemnitee for enforcement of his rights hereunder shall have been commenced, continued or appealed, that its obligations set forth in this Agreement are unique and special, and that failure of the Corporation to comply with the provisions of this
Agreement will cause irreparable and irremediable injury to Indemnitee, for which a remedy at law will be inadequate. As a result, in addition to any other right or remedy Indemnitee may have at law or in equity with respect to breach of this
Agreement, Indemnitee shall be entitled to injunctive or mandatory relief directing specific performance by the Corporation of its obligations under this Agreement. 

Section 16. INTERPRETATION OF AGREEMENT. It is understood that the parties hereto intend this Agreement to be interpreted and enforced so as
to provide indemnification to Indemnitee to the fullest extent now or hereafter permitted by law. 
 Section 17. ENTIRE AGREEMENT. This
Agreement and the documents expressly referred to herein constitute the entire agreement between the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements with
respect to the matters covered hereby are expressly superseded by this Agreement. 

  
 12 

 Section 18. MODIFICATION AND WAIVER. No supplement, modification or amendment of this Agreement
shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver
constitute a continuing waiver. 
 Section 19. SUCCESSOR AND ASSIGNS. All of the terms and provisions of this Agreement shall be binding
upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. 

Section 20. SERVICE OF PROCESS AND VENUE. For purposes of any claims or proceedings to enforce this agreement, the Corporation consents to the
jurisdiction and venue of any federal or state court of competent jurisdiction in the State of Delaware, and waives and agrees not to raise any defense that any such court is an inconvenient forum or any similar claim. 

Section 21. GOVERNING LAW. This Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, as
applied to contracts between Delaware residents entered into and to be performed entirely within Delaware. If a court of competent jurisdiction shall make a final determination that the provisions of the law of any state other than Delaware govern
indemnification by the Corporation of its officers and directors, then the indemnification provided under this Agreement shall in all instances be enforceable to the fullest extent permitted under such law, notwithstanding any provision of this
Agreement to the contrary. 
 Section 22. EMPLOYMENT RIGHTS. Nothing in this Agreement is intended to create in Indemnitee any right to
employment or continued employment. 
 Section 23. COUNTERPARTS. This Agreement may be executed in two or more counterparts, each of which
shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument, notwithstanding that both parties are not signatories to the original or same counterpart. 

Section 24. HEADINGS. The section and subsection headings contained in this Agreement are for reference purposes only and shall not affect in
any way the meaning or interpretation of this Agreement. 

  
 13 

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

			
	iCAD, INC.
		
	 By
	 	 
		 	 Name:

		 	 Title:

	
	 INDEMNITEE:

	
	   

  
 14ex10-1.htm

Exhibit 10.1

ASSIGNMENT AND ASSUMPTION AGREEMENT

This Assignment and Assumption Agreement (this “Agreement”) is made as of this 24th day of August, 2014, by and between David Rector, dba The David Stephen Group, a sole-proprietorship ("DSG" or “Assignor”) and California Gold Corp. ("Assignee").

 

Whereas, Assignor is the owner of certain unpatented mining claims located in Lander County, Nevada, which claims are listed on Exhibit A hereto (the "Claims").

 

Whereas, concurrently with execution and delivery of this Agreement, Assignor is conveying the Claims to Assignee.

 

Whereas, Assignee desires to acquire Assignor’s interest in certain data related to the Claims.

 

Whereas, Assignee is planning a reverse stock split of its common stock on a 1:100 basis (the “Stock Split”).

 

Now, therefore, for good and valuable consideration, receipt of which is hereby confirmed, the parties agree as follows:

 

1. DSG hereby assigns to Assignee its interest in the Claims and all information, data and records, in whatever form, and all physical material, with respect solely to the title, ownership, mineral potential, environmental condition and liabilities, geology and other attributes of the Claims and the exploration for, extraction and selling of minerals from the Claims and results of all work in connection therewith, including all data, records, reports, field notes, assay results, projections, geological models, results of geological, geophysical and geochemical surveys, sections, drill logs, calculations, maps, charts, photographs, samples and sample pulps, assay rejects, physical rock or soil samples, drill core, feasibility studies, environmental studies, financial projections, metallurgical studies, title documents and agreements, trade secrets, know-how, specifications and drawings, which belongs to DSG (all the foregoing, the "Data").  As soon as reasonably practical after execution of this Agreement, DSG will deliver copies or originals of the Data within DSG’s control or possession, other than any Data copies or originals of which have already been supplied to Assignee.

 

2. In consideration of DSG’s assignment of its interest in the Data and the Claims, Assignee will deliver to David S. Rector within five business days following the Stock Split a certificate representing 300,000 shares of common stock of Assignee and agrees to and does assume any and all obligations, liabilities and claims related to the Claims and the Data (including without limitation the obligation to pay any fees payable to any person, entity or government and make any filings related to the Claims or the Data), to the extent such obligation arises on or after the date hereof.  Assignee will use commercially reasonable efforts to cause the Stock Split to be completed within 60 days after the date hereof.  If the Stock Split does not occur within that time period, Assignor may demand that Assignee deliver a certificate representing 30,000,000 shares of its common stock and Assignee will do so within five business days after receipt of such notice.

 

3. Assignor represents to Assignee that its entry into and performance hereunder will not violate any law, statute, regulation or court order applicable to it and does not require any consents or approvals of any third party.

 

4. Assignee represents and warrants to Assignor that:

 

	
a.  

	
 its entry into and performance hereunder will not violate any law, statute, regulation or court order applicable to it and does not require any consents or approvals of any third party; and

  

  

  

 

	
b.  

	
the shares of Assignee’s stock to be issued to David S. Rector hereunder (the “Shares”) will have been duly authorized and validly issued and will be fully paid and nonassessable.

 

5. DSG will indemnify and hold Assignee, its employees and agents, harmless from and against any loss, claim or damage (including reasonable attorneys’ fees and costs) arising out of the falsity or breach of a representation or warranty made by DSG in this Agreement.

 

6. Assignee will indemnify and hold DSG, any employees, affiliates, and agents, harmless from and against any loss, claim or damage (including reasonable attorneys’ fees and costs) arising out of (a) the falsity or breach of a representation or warranty made by it in this Agreement; or (b) the failure to perform the obligations assumed by Assignee under this Agreement.

 

7. Assignee acknowledges and agrees that the Data and the Claims are being conveyed “AS-IS” and “WITH ALL FAULTS.”  Assignor makes no representation or warranty of any kind as to the Data or the Claims.  Assignee acknowledges it has had the opportunity to investigate both the Data and the Claims and is relying on its own investigation in electing to acquire the Data and the Claims.

 

8. From and after the date of full execution of this Agreement, each party hereto will do such things, perform such acts, and make, execute, acknowledge and deliver such documents as may be reasonably necessary or proper and usual to complete the transactions contemplated by this Agreement and to carry out the purpose of this Agreement.

 

9. In any action or proceeding to enforce the terms of this Agreement, that may arise out of this Agreement or to redress any violation of this Agreement, the prevailing party will be entitled to recover as damages its reasonable attorneys' fees and reasonable costs incurred, whether or not the action is reduced to judgment. For the purposes of this provision, the "prevailing party" shall be that party who has been successful with regard to the main issue, even if that party did not prevail on all the issues.

 

10. If any provision of this Agreement is found to be unenforceable, all other provisions will remain in full force and effect.

 

11. The representations, covenants and obligations of the parties set forth herein will survive the conveyance effected hereby.

 

12. Any and all notices required or that may be given hereunder shall be deemed received upon receipt when delivered by FedEx or other recognized overnight courier on a business day before 5:00 p.m. in the time zone of the recipient.  The addresses for notice to the parties (until changed by written notice to the other party) are:

 

California Gold Corp.

10752 Deerwood Park Blvd.

S. Waterview II, Suite 100

Jacksonville, FL 32256

Attn:________________

David S. Rector

________________

________________

  

  

  

13. This instrument may be executed in two or more counterparts, which, when taken together, will constitute one and the same instrument.  Any signature page of this instrument may be detached from any counterpart without impairing the legal effect of any signatures thereon, and may be attached to another counterpart identical in form thereto, but having attached to it one or more additional signature pages.  The parties contemplate that they may be executing counterparts of this instrument transmitted by facsimile and agree and intend that a signature transmitted through a facsimile machine will bind the party so signing with the same effect as though the signature were an original signature.

 

14. The parties hereto acknowledge that each has been given the opportunity to independently review this Agreement with legal counsel, and/or has the requisite experience and sophistication to understand, interpret and agree to the particular language of the provisions hereof.  In the event of an ambiguity in or dispute regarding the interpretation of same, the interpretation of this Agreement will not be resolved by any rule of interpretation providing for interpretation against the party who causes the uncertainty to exist or against the party drafting the Agreement.

 

15. This Agreement constitutes the entire agreement between the parties hereto pertaining to the subject matter hereof and supersedes all prior or contemporaneous agreements, understandings, negotiations and discussions, whether oral or written, of the parties in connection with the subject matter hereof, except as specifically set forth herein.  No supplements, modifications, waivers or terminations of the Agreement will be binding unless executed in writing by the parties to be bound thereby.

 

16. The laws of the State of Nevada will govern the interpretation of this Agreement and any claim that may arise out of this Agreement.

 

17. The exclusive venue for any claim, suit or proceeding arising out of this Agreement will be the State courts of Nevada or any federal court sitting in Nevada and having jurisdiction.

 

[signatures appear on following page]

  

  

  

 

[signature page to Assignment and Assumption Agreement-Paramount]

In witness whereof, the parties set their hands as of the date first set forth above.

 

	
Assignor:

 

The David Stephen Group, a sole proprietorship

 

By:  /s/ David Rector

Printed:  David Rector

	
Assignee:

 

California Gold Corp., a Nevada corporation

 

By:  /s/ Shea Ralph

Printed:  Shea Ralph

Its:  CFO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}]]