Document:

Escrow Project Agreement

 Exhibit 10.46 

 
  

ESCROW DEPOSIT AGREEMENT 

Dated as of
                    , 2009 

by and between 

(Name of Project LLC) 

and 
 CareView
Communications, Inc. (“CareView”) 
 and 

Bank of Texas, N.A. 

as Escrow Bank 
  

 

 TABLE OF CONTENTS 

 

					
	 	  	 	  	Page
	 Section 1.
	  	 Establishment of Escrow Account
	  	2
			
	 Section 2.
	  	 Deposit into Escrow Accunt
	  	2
			
	 Section 3.
	  	 Instructions as to Application of Escrow Account
	  	3
			
	 Section 4.
	  	 Termination of Agreement
	  	3
			
	 Section 5.
	  	 Compensation to Escrow Bank
	  	3
			
	 Section 6.
	  	 Immunities and Liabilities of Escrow Bank
	  	3
			
	 Section 7.
	  	 Amendment
	  	4
			
	 Section 8.
	  	 Execution in Counterparts
	  	4
			
	 Section 9.
	  	 Applicable Law
	  	4
			
	 Section 10.
	  	 Severability
	  	5
			
	 Section 11.
	  	 Notice
	  	5

 ESCROW AGREEMENT 

This ESCROW AGREEMENT (this “Agreement”) is made and entered into as of
                    , 2009 by and between CareView Communications, Inc., a Nevada corporation (“CareView”),
                     [insert name of Project LLC here], a Wisconsin limited liability company (the “LLC” “) and Bank of
Texas, N.A. a national banking association organized and existing under the laws of the United States of America, acting as escrow agent hereunder (the “Escrow Bank”); 

WHEREAS, the LLC was formed to constitute a joint venture between CareView and Rockwell Holdings I, LLC (“Rockwell”), and the LLC will
assume and fulfill CareView’s obligations under a contract (the “Hospital Contract”) between CareView’s wholly owned subsidiary, CareView Comuniciations, Inc., a Texas corporation, and
                     [insert name of hospital here] (the “Hospital”) providing for the installation and operation of the
CareView SystemTM at the Hospital; and 
 WHEREAS, CareView and the LLC desire to have payments by the Hospital under the Hospital
Contract be made into an escrow account (the “Escrow Account”) at the Escrow Bank; and 
 WHEREAS, CareView and the LLC desire
for the Escrow Bank to fund any and all deposits in the Escrow Account into a separate account at the Escrow Bank in the name of the LLC as soon as all funds are collected; and 

WHEREAS, CareView and the LLC desire to jointly control the Escrow Account; 

NOW, THEREFORE, in consideration of the above premises and of the mutual promises and covenants herein contained and for other valuable
consideration, the parties hereto do hereby agree as follows: 
 SECTION 1. Establishment of Escrow Account. There
is hereby created an Escrow Account to be held by Escrow Bank, separate and apart from any funds or amounts of the Escrow Bank or CareView and the LLC (the “Escrow Account”). 

SECTION 2. Deposit into Escrow Account. The Escrow Bank will establish an Escrow Account into which all fees received from the
Hospital pursuant to the Hospital Contract will be deposited. The account will be in the form of an escrow account and the Escrow Bank will have total and complete control over the Escrow Account, subject to the terms of this Agreement. 

Notwithstanding anything in this Agreement to the contrary, Escrow Bank may charge the Escrow Account to the extent permitted by this
Agreement or applicable law, for: (i) the face amount of a check, draft, money order, instrument, wire transfer of funds, automated clearing house entry, credit from a merchant card transaction, other electronic transfer of funds or other item
(A) deposited in or credited to the Escrow Account, whether before or after the date of this Agreement, and returned unpaid or otherwise uncollected or subject to an adjustment entry, whether for insufficient funds or for any other reason and
without regard to the timeliness of the return or adjustment or the occurrence or timeliness of any other person’s notice of nonpayment or adjustment, or (B) deposited in or credited to the Escrow Account, whether before or after the date
of this Agreement, which is subject to a claim against Escrow Bank for breach of transfer, presentment, encoding, retention or other warranty under Federal Reserve Regulations or Operating Circulars, clearing house rules, the UCC or other applicable
law; (ii) normal service charges or fees payable to Escrow Bank in connection with the Escrow Account or any depository services related to the Escrow Account; and (iii) any adjustments or corrections of any posting or encoding errors as
to the Escrow Account. 
  

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 If any action is brought by a party to enforce this Agreement, the non-prevailing party
shall pay to the prevailing party its reasonable out-of-pocket legal fees and expenses incurred in such action provided that such action, is finally adjudicated by a court of competent jurisdiction. 

Except for the above mentioned fees and charges and deductions for returned items, Escrow Bank shall have no rights in the Escrow Account
or any of the funds therein. To the extent that Escrow Bank may have ever had any such rights, Escrow Bank hereby expressly agrees to subordinate all such rights. 

SECTION 3. Instructions as to Application of Deposit. Escrow Bank will deposit any and all collected funds in the Escrow Account
into a separate account at the Escrow Bank in the name of the LLC as soon as the funds are collected, until and unless Escrow Bank is otherwise directed in a writing mutually executed by CareView and the LLC. 

If the balances in the Escrow Account are not sufficient to compensate Escrow Bank for any returned item, LLC and CareView agree to
immediately pay Escrow Bank on demand the amount due Escrow Bank. The failure to so pay Escrow Bank shall constitute a breach of this Agreement. 

SECTION 4. Termination of Agreement. This Agreement will terminate when the Escrow Bank has received notice in a writing mutually
executed by CareView and the LLC that either (a) CareView and the LLC have agreed to terminate this Agreement; (b) the LLC has been dissolved; or (c) the Hospital Contract has terminated without extension or renewal. This Agreement
will also terminate when the Escrow Bank has received written notice from Rockwell that CareView is in breach of any of CareView’s obligations (a) to the LLC pursuant to the LLC’s operating agreement or (b) to Rockwell under that
certain Master Investment Agreement between CareView and Rockwell dated November 16, 2009. Any payments with respect to the Hospital Contract received from or on behalf of the Hospital by the Escrow Bank after a termination of this Agreement
shall be the property of the LLC and shall be endorsed over to and deposited directly into a separate account at the Escrow Bank in the name of the LLC, if such account exists, or otherwise shall be collected by the Escrow Bank in trust for the LLC
and then delivered to the LLC. Any payments with respect to the Hospital Contract received from or on behalf of the Hospital by the Escrow Bank prior to a termination of this Agreement shall continue to be held, administered, deposited and disbursed
pursuant to the terms of this Agreement, which shall survive any termination of this Agreement with respect to payments received by the Escrow Bank prior to such termination. 

SECTION 5. Compensation to Escrow Bank. The LLC shall pay the Escrow Bank full compensation for its duties under this Agreement,
including out-of-pocket costs such as publication costs, prepayment expenses, legal fees and other costs and expenses relating hereto. 

SECTION 6. Immunities and Liabilities of Escrow Bank. 

(i) The Escrow Bank undertakes to perform only such duties as are expressly and specifically set forth in this Agreement and no implied
duties or obligations shall be read into this Agreement against the Escrow Bank. 
  

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 (ii) The Escrow Bank shall not have any liability hereunder except to the extent of its own
gross negligence or willful misconduct. In no event will Bank be liable for any special, indirect, exemplary, punitive or consequential damages, including but not limited to lost profits. Escrow Bank’s maximum liability herein shall be limited
with respect to any direct loss of funds from the Escrow Account to the amount of the loss and with respect to any other damages to the amount of fees that it has earned during the term of this Agreement. 

(iii) The Escrow Bank may consult with counsel of its own choice and the opinion of such counsel shall be full and complete authorization
to take or suffer in good faith any action in accordance with such opinion of counsel. 
 (iv) The Escrow Bank shall not be
responsible for any of the recitals or representations contained herein. 
 (v) The Escrow Bank shall not be liable for any
action or omission of CareView and the LLC under this Agreement. 
 (vi) The Escrow Bank may conclusively rely, as to the truth
and accuracy of the statements and correctness of the opinions and the calculations provided, and shall be protected and indemnified, in acting, or refraining from acting, upon any written notice, instruction, request, certificate, document or
opinion furnished to the Escrow Bank signed or presented by the proper party, and it need not investigate any fact or matter stated in such notice, instruction, request, certificate or opinion. 

(vii) The Escrow Bank, upon 30 day notice, may resign by giving written notice to CareView and the LLC of such resignation. CareView and
the LLC shall promptly appoint a successor Escrow Bank by the resignation date. Resignation of the Escrow Bank will be effective upon acceptance of appointment by a successor Escrow Bank (“Successor Escrow Bank”). If CareView and the LLC
do not promptly appoint a Successor Escrow Bank, Escrow Bank may request, through court, or other action, appointment of a Successor Escrow Bank. However, Escrow Bank shall serve until such court appointment of this agreement by Successor Escrow
Bank is finalized. 
 (viii) CareView and the LLC covenant to indemnify, release and hold harmless the Escrow Bank and its
officers, directors, agents and employees against any loss, liability or expense, of any kind or nature including legal fees, in connection with the performance of any of its duties hereunder, except the Escrow Bank shall not be indemnified against
any loss, liability or expense resulting from its gross negligence or willful misconduct. This subparagraph shall survive the termination of this Agreement. 

(ix) Nothing contained in the Agreement shall create any agency, fiduciary, joint venture or partnership relationship between Escrow Bank
and LLC, or CareView. 
 SECTION 7. Amendment. This Agreement may be amended by the parties hereto (a) to cure,
correct or supplement any ambiguous or defective provision contained herein or (b) to deposit additional monies for the purposes of this Agreement. 

SECTION 8. Execution in Counterparts. This Agreement may be executed in several counterparts, each of which shall be an original
and all of which shall constitute but one and the same instrument. 
 SECTION 9. Applicable Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of Texas. 
  

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 SECTION 10. Severability. In the event any provision of this Agreement shall be held
invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof.

 SECTION 11. Notice. Any written notice or other written communication to be given under this Agreement shall be
addressed to each party at its address and designated department set forth on the signature page of this Agreement or to such other address as a party may specify in writing. Except as otherwise expressly provided herein, any such notice shall be
effective upon actual delivery to the department designated by such party. 
 IN WITNESS WHEREOF, the parties hereto have
each caused this Agreement to be executed by their duly authorized officers all as of the date first above written. 
  

			
	(NAME OF PROJECT LLC)
	
	 
	By:	 	 
		 	 
	
	 c/o CareView Communications Inc.

Attention: Samuel Greco, CEO
 405 Highway 121,
Suite B-240
 Lewisville, TX 75067

	
	CAREVIEW COMMUNICATIONS, INC.
	
	 
	By:	 	 
	Its:	 	 
	
	 Attention: Samuel Greco, CEO

405 Highway 121, Suite B-240
 Lewisville, TX
75067

	
	BANK OF TEXAS, N.A.
	
	 
	By:	 	 
	Its:	 	 
	
	 4217 Swiss Avenue

Dallas, Texas 75204

  

 5Limited Intellectual Property License Agreement

 Exhibit 10.47 

LIMITED INTELLECTUAL PROPERTY LICENSE AGREEMENT 

This Agreement is entered into as of
                         , 200    , between CareView Communications, Inc., a Nevada
corporation and CareView Communications, Inc., a Texas corporation (collectively, “Licensor”) and                     , LLC
(“Licensee”). 
 WHEREAS, Licensor has developed a system of products and services (the
“System”) that it markets and sells under the CareView System® trademark; and 

WHEREAS, one of the entities that comprise Licensor entered into a contract with
                             [insert name of Project Hospital here] dated
                             [insert date of Project Hospital Contract here] (the
“Contract”) to provide products and services under the System to it; and 
 WHEREAS, one of the entities that
comprise Licensor assigned its rights and obligations under the Contract to Licensee and Licensee accepted such assignment; and 

WHEREAS, this Limited Intellectual Property License (this “Limited License”) is needed by Licensee to enable it to
perform the obligations assumed by it under the Contract; 
 NOW, THEREFORE, acknowledging consideration, the parties
agree as follows: 
 1. License. Licensor grants to Licensee a non-exclusive, royalty free license, upon the terms and
conditions and subject to the limitations set forth in this Limited License, to use the System, and all the products and services encompassed thereunder, to perform the obligations (the “Contract Obligations”) under the Contract, which
Contract Obligations have now been assumed by Licensee. The grant of this license includes, without limitation, the right of Licensee to use all inventions, patents, trade secrets, copyrights, software programs, works of authorship, trademarks,
service marks and other intellectual property rights now owned or licensed, or in the future developed, owned and/or licensed by Licensor, that comprise the System and/or the products and services thereunder (the “System IP”) in connection
with its performance of the Contract Obligations. 
 2. Term. This license shall commence as of the effective date hereof
and shall continue until the Contract, including any extensions or renewals thereof, terminates. 
 3. Assignment of
Rights. This Limited License and the rights granted under this Limited License may not be sublicensed or assigned, except that (a) they may be sublicensed by Licensee wholly or in part to a third party solely for the purpose of performing
the Contract Obligations on behalf of Licensee, (b) they may be assigned by Licensee to a third-party (including an equity holder of Licensee) who has assumed Licensee’s the rights and obligations under the Hospital Contract, and
(c) they may be pledged as security for any obligations of Licensee to an equity holder of Licensee and may be assigned pursuant to a foreclosure of such security to a third party who has assumed Licensee’s the rights and obligations under
the Hospital Contract. 
  

 1 

 3. Use Limitations. The rights granted in this Limited License are subject to the
following limitations: 
 (a) Licensee may not copy or distribute any System IP except as necessary in connection
with the performance of the Contract Obligations. 
 (b) Licensee will not modify, decompile, disassemble,
reverse engineer, or create derivative works based on any of the System IP. 
 (c) Licensee will use the System
IP in compliance with applicable law, including but not limited to all applicable provisions of copyright and other intellectual property laws. 

4. Ownership. Nothing in this Limited License shall be deemed to grant to Licensee any ownership or rights in the System IP
other than the rights granted herein. 
 5. Licensor’s System IP Warranty. Licensor warrants that it has the right
to grant the Limited License set forth hererin and Licensor agrees to indemnify and hold Licensee harmless from and against any damages arising out of Licensee’s infringement or violation of the intellectual property rights of others resulting
from Licensee’s use of the System IP in accordance with this Limited License. 
 6. Maintenance and Technical
Support. During the term of this Limited License, Licensor shall provide Licensee with updates and upgrades of the System IP and with maintenance and support of the System and System IP, at no cost to Licensee, to not less than the extent and
amount required to satisfy the Contract Obligations with respect to all System IP updates, upgrades, maintenance and support. 

7. Indemnification. Licensor shall indemnify and hold Licensee harmless from all claims arising out of the Contract Obligations to
the extent that the Limited License granted herein and/or the performance by Licensor of its obligations under this Limited License are insufficient to enable Licensor to satisfy the Contract Obligations with respect to any System IP. 

8. General Provisions. 

(a) Entire Agreement; Modification. This Agreement contains the entire agreement between the parties hereto with respect
to the matters contemplated herein and there are no agreements, representations or warranties with respect to such matters that are not set forth herein. All prior negotiations, agreements and understandings are superseded hereby. This Agreement may
not be modified or amended except by an instrument signed by or on behalf of all parties hereto. 
  

 2 

 (b) Notices. All notices, notifications, and elections and other
communications required or permitted pursuant to this Agreement shall be made in writing and shall be deemed to have been duly given and effective: (1) upon delivery if personally hand-delivered; (2) on the earlier of the fourth
(4th) day after mailing or the date of return receipt acknowledgment, if mailed, postage prepaid, by certified or registered mail, return receipt requested; (3) on the date sent if sent by facsimile or email; or (4) on the date of
delivery if sent by a recognized overnight courier. Such communications shall be addressed as follows, or as otherwise directed in a notice by any party given to all other parties in accordance herewith, and shall be effective as notice to all the
following indicated persons if delivered in accordance herewith: 
  

			
	If to Licensor:	  	Samuel Greco, CEO
		  	CareView Communications Inc.
		  	405 Highway 121, Suite B-240
		  	Lewisville, TX 75067
		
	Copy to:	  	John Bailey, CFO
		  	CareView Communications Inc.
		  	405 Highway 121, Suite B-240
		  	Lewisville, TX 75067
		
	If to Licensee:	  	c/o CareView Communications Inc.
		  	Attn: Sam Greco
		  	405 Highway 121, Suite B-240
		  	Lewisville, TX 75067
		
	Copy to:	  	Rockwell Holdings I, LLC
		  	c/o Matthew Bluhm
		  	1418 North Lake Shore Drive
		  	Suite 29
		  	Chicago, IL 60610

 (c)
Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of Wisconsin, without giving effect to its conflict of laws provisions. 

(d) Binding Effect. This Agreement shall be binding upon the parties and inure to the benefit of their respective
successors, assigns, heirs and legal representatives. 
 (e) Headings. The headings in this Agreement are for
convenience and reference only and shall not be deemed to alter or affect any provision hereof. 
 (f) Waivers
and Acceleration. No waiver of any breach or default hereunder shall be considered valid unless in writing and signed by the party giving such waiver; and no such waiver shall be deemed a waiver of any subsequent breach or default of the same or
similar nature. 
  

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 (g) Severability. If any provision of this Agreement shall, under any
circumstances, be deemed invalid or inoperative, this Agreement shall be construed with the invalid or inoperative provision deleted and the rights and obligations of the parties shall be construed and enforced accordingly. 

(h) No Third-Party Beneficiaries. Nothing in this Agreement shall confer any rights upon any person or entity that is not
a party to this Agreement, except as expressly provided hereunder. 
 (i) Persons Bound. This Limited License
benefits the Licensee, its permitted successors and assigns, and binds Licensor and its respective, successors and assigns. 

(j) Attorneys Fees. In the event of any legal or equitable action to enforce the terms of this Agreement, the prevailing
party in such action shall be entitled to recover from the other party all costs of such action, including reasonable attorneys fees. 

(k) Execution in Counterparts, Facsimile. This Agreement may be executed in one or more counterparts, each bearing the
signatures of one or more parties. Each counterpart shall be considered an original and all of the counterparts shall constitute a single agreement binding all the parties as if all had signed a single document. For purposes of executing this
Agreement, a document signed and transmitted by electronic means (such as in PDF format via e-mail or via facsimile machine) is to be treated as an original document. The signature of any party thereon, for purposes hereof, is to be considered as an
original signature, and the document transmitted is to be considered to have the same binding effect as an original signature on an original document. 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above. 

 

			
		 	LICENSOR:
		
		 	CareView Communications, Inc.,
		 	a Nevada corporation
		
	By:	 	 
	Its:	 	 
		
		 	CareView Communications, Inc.,
		 	a Texas corporation
		
	By:	 	 
	Its:	 	 

  

 4 

					
		 	LICENSEE:
		
		 	
                         
   , LLC,
 a Wisconsin limited liability company

		 		 	
		
	By:	 	CareView Communication, Inc., a Nevada corporation, its Manager
			
		 	By:	 	 
		 	Its:	 	 

  

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