Addendum No. 16 to Convertible Revolving Credit Promissory Note between Robert Howard and iCAD, Inc.

Summary

This addendum extends the repayment date of a convertible revolving credit promissory note between Robert Howard and iCAD, Inc. from January 4, 2005 to January 4, 2006, and sets the maximum principal amount at $5,000,000. Robert Howard also agrees not to demand repayment of the principal within 366 days after this amendment's expiration. The agreement is effective as of December 31, 2004.

EX-10.K 2 v014284_ex10k.txt EXHIBIT 10 (k) REVOLVING LOAN AND SECURITY AGREEMENT CONVERTIBLE REVOLVING CREDIT PROMISSORY NOTE DATED OCTOBER 26, 1987 ADDENDUM NO. 16 For consideration given and received, Robert Howard 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, 2005 to January 4, 2006. Also the Note hereafter will be a maximum principal sum of Five Million Dollars ($5,000,000). Effective the 31st. day of December 2004. Please note that I, Mr. Robert Howard, do not intend to call in the principal balance of the note within 366 days from the expiration date of this amendment. ICAD, INC. By: /s/ Annette Heroux /s/ Robert Howard ------------------------------- ---------------------------- Title: Chief Financial Officer Robert Howard