On March 10, 2023, Dana Brown, age 58, the Executive Chair of the Board of Directors (the “Board”) of iCAD, Inc. (the “Company”), was appointed President and Chief Executive Officer of the Company, effective immediately. In connection with Ms. Brown's appointment, Ms. Brown and the Company entered into an Executive Employment Agreement (the “Brown Agreement”). In addition to serving as the Executive Chair of the Board since January 2023, Ms. Brown has served as a member of the Board since February 2022.

Ms. Brown served from November 5, 2018 to March 31, 2022, as the Senior Vice President, Chief Strategy and Operations Officer at Susan G. Komen®, the world's leading nonprofit breast cancer organization. Prior to that role, she served as Senior Vice President and Chief Digital Officer at United Way Worldwide. Ms. Brown was also a founding team member of multiple successful ventures including co-founder and CMO for MetaSolv Software, CEO of Ipsum Networks and spent the early years of her career at Texas Instruments and Arthur Andersen.

Stevens resigned from her position as Chief Executive Officer and President of the Company and as a member of the Board of Directors on March 10, 2023. In connection therewith, Ms. Stevens entered into a Transition and Separation Agreement with the Company (the “Separation Agreement”). The Separation Agreement provides that as of March 10, 2023 (the “Transition Date”), Ms. Stevens shall serve the Company in the role of Senior Advisor from the Transition Date until the earlier of (i) April 30, 2023 or (ii) the effective date of any resignation of employment by Ms. Stevens, at which point Ms. Stevens employment with the Company shall terminate (the “Separation Date”).

Pursuant to the Separation Agreement, beginning on the Transition Date and ending on the Separation Date, Ms. Stevens shall continue to receive her current base salary. On January 6, 2023, the Company appointed Dana Brown as the Executive Chairman of the Board of the Company, replacing Timothy Irish, who was appointed Chairman in early 2022. Following his dismissal as Chairman, Mr. Irish communicated on several occasions his objections, as indicated below.