ADDENDUM NO. 18 REVOLVING LOAN AND SECURITY AGREEMENT CONVERTIBLE REVOLVING CREDIT PROMISSORY NOTE DATED OCTOBER 26, 1987
EXHIBIT
10.1
ADDENDUM
NO. 18
CONVERTIBLE
REVOLVING CREDIT PROMISSORY NOTE
DATED
OCTOBER 26, 1987
For
consideration given and received, Xxxxxx Xxxxxx and iCAD, Inc. hereby agree
to
extend the repayment date in Paragraph D of the above referenced Convertible
Revolving Credit Promissory Note, as amended, (the “Note”) from January 4, 2006
to March 31, 2007. Also the Note hereafter will be a maximum principal sum
of
Five Million Dollars ($5,000,000).
Effective
the 31st
day of
December 2005.
Please
note that I, Xx. Xxxxxx Xxxxxx, do not intend to call in the principal balance
of the note within 366 days from the expiration date of this amendment or March
31, 2008.
In
addition, I agree that I will not, while the revolving line of credit exists,
convert any outstanding advances under the agreement into shares of iCAD’ common
stock that would exceed the available shares for issuance defined as the
authorized shares of the iCAD common stock less issued and outstanding common
shares less any reserved shares for outstanding convertible preferred stock,
non-employee warrants and non-employee stock options.
ICAD, INC. | |
By: /s/ Xxxxxxx Xxxxxx | /s/ Xxxxxx Xxxxxx |
Title: Chief Financial Officer | Xxxxxx Xxxxxx |
May 9, 2006 | |