Document:

Exhibit

Exhibit 10.1

EXECUTION VERSION
THIRD AMENDMENT TO MASTER ACCOUNTS RECEIVABLE PURCHASE
AGREEMENT
This THIRD AMENDMENT to the MASTER ACCOUNTS RECEIVABLE PURCHASE AGREEMENT (this “Amendment”), is made and entered into as of October 31, 2018 (as it may be modified, supplemented or amended from time to time in accordance with its terms) by and among the following parties:
		
	(i)
	ENTERPRISE SERVICES LLC, a Delaware limited liability company (the “Seller” and “Seller Representative”);

		
	(ii)
	each PURCHASER party hereto; and

		
	(iii)
	MUFG BANK, LTD. (F/K/A THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH) (“BTMUNY”), as administrative agent (the “Administrative Agent”).

BACKGROUND 
WHEREAS, the parties hereto have entered into the Master Accounts Receivable Purchase Agreement, dated as of July 14, 2017, as amended by the First Amendment to the Master Accounts Receivable Purchase Agreement (the “First Amendment”), dated as of January 23, 2018, and as further amended by the Second Amendment to the Master Accounts Receivable Purchase Agreement, dated as of May 31, 2018 (as amended, restated, supplemented, assigned or otherwise modified from time to time, the “Existing Agreement”); 
WHEREAS, the parties hereto seek to modify the Existing Agreement upon the terms hereof; and
WHEREAS, the parties hereto seek on the date hereof to reduce the Aggregate Commitments under the Existing Agreement to three hundred million dollars ($300,000,000);
NOW, THEREFORE, in exchange for good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged and confirmed), the parties hereto agree as follows:
AGREEMENT  
1.Definitions. Unless otherwise defined or provided herein, capitalized terms used herein have the meanings attributed thereto in (or by reference in) the Existing Agreement.

2.Amendments to the Existing Agreement. The Existing Agreement is hereby amended as follows:
		
	a.
	The definition of “Scheduled Termination Date” shall be replaced in its entirety with the following:

“Scheduled Termination Date” means October 31, 2019 as such date may be extended from time to time pursuant to Section 2.6(c).
		
	b.
	Schedule D of the Existing Agreement shall be replaced in its entirety with Schedule D attached to this Amendment.

3.Conditions to Effectiveness. This Amendment shall be effective as of the date on which (i) the Purchasers receive a counterpart of this Amendment duly executed and delivered by each of the parties hereto, (ii) the Purchasers shall have received the Confirmation and Acknowledgment attached to this Amendment as Annex I duly executed and delivered by an authorized officer of Perspecta Inc., as guarantor and (iii) the Seller shall have paid any legal fees due and owing to Mayer Brown LLP to the extent incurred on or before September 30, 2018.

4.Certain Representations, Warranties and Covenants. Each Seller hereby represents and warrants to the Purchaser, as of the date hereof that:

(a)the representations and warranties made by it in the Existing Agreement and in any other Purchase Document to which it is a party are true and correct both as of the date hereof and immediately after giving effect to this Amendment;
(b)no Facility Suspension Event exists as of the date hereof and immediately after giving effect to this Amendment; and
(c)the execution and delivery by it of this Amendment, and the performance of its obligations under this Amendment, the Existing Agreement (as amended hereby) and the other Purchase Documents to which it is a party are within its organizational powers and have been duly authorized by all necessary organizational action on its part, and this Amendment, the Existing Agreement (as amended hereby) and the other Purchase Documents to which it is a party are its valid and legally binding obligations, enforceable in accordance with its terms, subject to the effect of bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally.

5.Reference to, and Effect on the Existing Agreement and the Purchase Documents.

(a)The Existing Agreement (except as specifically amended herein) and the other Purchase Documents shall remain in full force and effect and the Existing Agreement and such other Purchase Documents are hereby ratified and confirmed in all respects by each of the parties hereto.
(b)The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of Purchaser, nor constitute a waiver of any provision of, the Existing Agreement or any other Purchase Document.

(c)After this Amendment becomes effective, all references in the Existing Agreement or in any other Purchase Document to “the Master Accounts Receivable Purchase Agreement,” “this Agreement,” “hereof,” “herein” or words of similar effect, in each case referring to the Existing Agreement, shall be deemed to be references to the Existing Agreement as amended by this Amendment.
(d)To the extent that the consent of any party hereto, in any capacity, is required under the Purchase Documents or any other agreement entered into in connection with the Purchase Documents with respect to any of the amendments or other matters set forth herein, such Person hereby grants such consent.
(e)For the avoidance of doubt, the option to increase the Aggregate Commitments pursuant to Section 2.10 of the Existing Agreement shall no longer be available after the effective date of the First Amendment.

6.Waiver. The Administrative Agent and each Purchaser hereby waive the requirement pursuant to Section 2.6(c) of the Existing Agreement wherein the Sellers must provide at least sixty (60) days prior written notice to the Administrative Agent (on behalf of the Purchasers) of their desire to extend the Scheduled Termination Date.

7.Further Assurances. Each Seller agrees to do all such things and execute all such documents and instruments as the Purchaser may reasonably consider necessary or desirable to give full effect to the transaction contemplated by this Amendment and the documents, instruments and agreements executed in connection herewith.

8.Refundable Discount Advance Account. On the date hereof, the Administrative Agent shall return to the Seller Representative any amount that exceeds the required Refundable Discount Advance on deposit in the Refundable Discount Advance Account (which, for the avoidance of doubt, shall be equal to 0.4% of the Aggregate Commitments in accordance with Section 2.8(b) of the Existing Agreement) calculated after giving effect to the Aggregate Commitments noted on Schedule D attached to this Amendment. 

9.Costs and Expenses. Each Seller agrees, jointly and severally, to pay on demand (except as otherwise set forth in Section 4 of this Amendment) all reasonable costs (including reasonable attorneys’ fees and expenses) and expenses the Administrative Agent incurs in connection with the preparation, negotiation, documentation and delivery of this Amendment.

10.Purchase Document. This Amendment is a Purchase Document.

11.Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the Sellers and the Administrative Agent and each Purchaser, and their respective successors and assigns.

12.Execution in Counterparts. This Amendment may be executed in any number of counterparts, and by the different parties hereto on separate counterparts; each such counterpart shall be deemed an original and all of such counterparts taken together shall be deemed to constitute one and the same instrument. A facsimile or electronic copy of an executed counterpart of this Amendment shall be effective as an original for all purposes.

13.GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

14.Section Headings. Section headings in this Amendment are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

15.Severability. Any provisions of this Amendment which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.
MUFG BANK, LTD. (F/K/A THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH), as Administrative Agent
By:_________________________________________ 
		
	Print Name:__________________________________
	 

Title:________________________________________

Accepted, agreed and consented to as of 
the date first above written:
ENTERPRISE SERVICES LLC, as Seller 
and Seller Representative
By:_________________________________________ 
		
	Print Name:__________________________________
	 

Title: _______________________________________

Accepted, agreed and consented to as of the date first above written:
MUFG BANK, LTD. (F/K/A THE BANK OF 
TOKYO-MITSUBISHI UFJ, LTD., NEW YORK 
BRANCH), as Purchaser

By:_________________________________________ 
		
	Print Name:__________________________________
	 

Title: _______________________________________

THE BANK OF NOVA SCOTIA, 
as Purchaser
By:_________________________________________ 
		
	Print Name:__________________________________
	 

Title: _______________________________________
 
MIZUHO BANK, LTD., 
as Purchaser
By:_________________________________________ 
		
	Print Name:__________________________________
	 

Title: _______________________________________
 

ANNEX A

CONFIRMATION AND ACKNOWLEDGEMENT
This CONFIRMATION AND ACKNOWLEDGEMENT, dated as of October 31, 2018 (this “Confirmation”), is executed and delivered by Perspecta Inc., a Nevada corporation (the “Guarantor”). 

		
	1.
	Reference is hereby made to the Guaranty, dated as of May 31, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the “Guaranty”), delivered by the Guarantor in connection with the Agreement (defined below).

		
	2.
	Reference is further made to the Third Amendment to the Agreement, dated as of the date hereof (the “Amendment”), to the Master Accounts Receivable Purchase Agreement, dated as of July 14, 2017, as amended by the First Amendment to the Agreement, dated as of January 23, 2018 and as further amended by the Second Amendment to the Agreement, dated May 31, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”), among ENTERPRISE SERVICES LLC, a Delaware limited liability company, each PURCHASER party thereto and MUFG BANK, LTD. (F/K/A THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH), as Administrative Agent.

		
	3.
	The Guarantor hereby consents to the Amendment. The Guarantor hereby confirms that, notwithstanding the effectiveness of the Amendment, the Guaranty shall continue in full force and effect.

IN WITNESS WHEREOF, the Guarantor has caused this Confirmation to be duly executed and delivered on the date first set forth above.
[Signature page follows.]

PERSPECTA INC., 
as Guarantor

By: ________________________________
Print Name: ________________________
Title: ______________________________

By: ________________________________
Print Name: ________________________
Title: ______________________________

Schedule D To 
Master Accounts Receivable Purchase Agreement

Commitments of the Purchasers

	
		
	Purchaser
	Commitment

	MUFG Bank, Ltd. (f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch)
	$150,000,000

	The Bank of Nova Scotia
	$75,000,000

	Mizuho Bank, Ltd.
	$75,000,000EX-10.1

 Exhibit 10.1 

iCAD, Inc. 
 98 Spit
Brooke Road, Suite 100 
 Nashua, NH 03062 

October 15, 2018 
 Andy H. Sassine 

P.O. Box 9826 
 Rancho Santa Fe, CA 92067 

Dear Andy: 
 This letter (this
“Agreement”) constitutes the agreement between iCAD, Inc. (the “Company”) and you (“Mr. Sassine”). Each of the Company and Mr. Sassine is a “Party” to
this Agreement, and collectively, the “Parties.” 
  

	1.	 Board Composition. Upon the execution of this Agreement, the Company’s Board of Directors (the
“Board”) will (a) accept the resignations tendered by Anthony Ecock, Dr. Robert Goodman, Somu Subramanian and Dr. Elliot Sussman as directors of the Company and (b) appoint to the Board each of Michael Klein,
Dr. Rakesh Patel and Dr. Susan Wood (each a “New Director” and, collectively, the “New Directors”). Dr. Rachel Brem, Kenneth Ferry, Dr. Lawrence Howard and Steven Rappaport (each an
“Incumbent Director” and, collectively, the “Incumbent Directors”) will continue to serve as directors and, together with Mr. Sassine and the New Directors, will be nominated for election to the Board at
Company’s 2018 annual meeting of shareholders (the “2018 Annual Meeting”). 

  

	2.	 Chairman of the Board. The Company agrees that, effective upon his appointment to the Board,
Mr. Klein will be appointed as Non-Executive Chairman of the Board. 

  

	3.	 Committee Composition. 

 

	 	a.	 Audit Committee. Upon the appointment of the New Directors, the Board agrees that the Audit Committee
will consist of Dr. Howard and Messrs. Sassine and Rappaport, with Mr. Rappaport as its Chairman. 

  

	 	b.	 Compensation Committee. Upon the appointment of the New Directors, the Board agrees that the
Compensation Committee will consist of Drs. Howard and Wood and Messrs. Klein and Sassine, with Mr. Sassine as its Chairman. 

  

	 	c.	 Nominating and Corporate Governance Committee. Upon the appointment of the New Directors, the Board
agrees that the Nominating and Corporate Governance Committee of the Board (the “Nominating Committee”) will consist of Drs. Brem, Patel and Wood, with Dr. Patel as its Chairman. 

 

	4.	 Replacement Directors. 

 

	 	a.	 If any of the New Directors is unable or unwilling to serve as a director or ceases to be a director, resigns
as a director or is removed as a director prior to the conclusion of the 2018 Annual Meeting, then Mr. Sassine will be permitted to recommend a replacement director, who must (i) qualify as “independent” pursuant to Nasdaq Stock
Market listing standards and (ii) be 

	 	
reasonably acceptable to the Board. The Board will vote on the appointment of any such recommended replacement director within 7 business days after the recommended replacement director has
submitted to the Company a completed director & officer questionnaire and one or more representatives of the Board have had an opportunity to conduct an interview of such recommended replacement director. If for any reason the Board does
not accept the replacement director recommended by Mr. Sassine, then Mr. Sassine will be permitted to recommend additional replacement director candidates whose appointment will be subject to the procedures described above.

  

	 	b.	 If any of the Incumbent Directors is unable or unwilling to serve as a director or ceases to be a director,
resigns as a director or is removed as a director prior to the conclusion of the 2018 Annual Meeting, then the remaining Incumbent Directors, as a group, will be permitted to recommend a replacement director, who must (i) qualify as
“independent” pursuant to Nasdaq Stock Market listing standards and (ii) be reasonably acceptable to the Board. The Board will vote on the appointment of any such recommended replacement director within 7 business days after the
recommended replacement director has submitted to the Company a completed director & officer questionnaire and one or more representatives of the Board have had an opportunity to conduct an interview of such recommended replacement
director. If for any reason the Board does not accept the replacement director recommended by the Incumbent Directors, then the Incumbent Directors will be permitted to recommend additional replacement director candidates whose appointment will be
subject to the procedures described above. 

  

	5.	 Director Recusals. The Parties agree that any director will be recused from any Board or committee
meeting, or portion thereof, at which the Board or any such committee is evaluating and/or taking action with respect to any matter in which such director has an actual or potential conflict of interest. The Parties further agree that in the event
any director(s) is recused from any Board or committee meeting, or portion thereof, then a quorum for the transaction of business at any such Board or committee meeting, or portion thereof, shall be a majority of the
non-recused directors. 

  

	6.	 Voting Commitment. At the 2018 Annual Meeting, Mr. Sassine will (a) vote all shares of the
Company’s common stock beneficially owned by Mr. Sassine (the “Shares”) in favor of all of the Company’s nominees and (b) vote all Shares in accordance with the Board’s recommendation with respect to any
other proposal presented at the 2018 Annual Meeting. 

  

	7.	 Expenses. The Company shall reimburse Mr. Sassine for his reasonable
out-of-pocket fees and expenses (including legal expenses) incurred in connection with the negotiation and execution of this Agreement, provided that such reimbursement
shall not exceed $60,000 in the aggregate. 

  

	8.	 Withdrawal of Nomination Letter. Mr. Sassine hereby (i) irrevocably withdraws the notice of
stockholder nomination of individuals for election as directors at the 2018 Annual Meeting submitted to Company on September 27, 2018, and (ii) irrevocably withdraws any related materials or notices submitted to Company in connection
therewith. The parties acknowledge that effective at 5 PM on October 2, 2018, Mr. Sassine withdrew his resignation letter dated September 26, 2018 addressed to the Board. 

[Signature Page Follows] 

  
 -2- 

 
			
	Very truly yours,
	
	iCAD, Inc.
		
	By:	 	/s/ Kenneth M. Ferry
		 	Name: Kenneth M. Ferry
		 	Title: CEO

 ACCEPTED AND AGREED 
 as of
the date written above: 
  

	
	
	/s/ Andy H. Sassine
	ANDY H. SASSINE

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