Exhibit 10.2

AMENDMENT TO COMMON STOCK PURCHASE WARRANT
 
THIS AMENDMENT NO. 1 TO COMMON STOCK PURCHASE WARRANT (this “Amendment”) is
entered into as of August 11, 2009 by and among Hythiam, Inc., a Delaware
corporation (the “Company”) and HIGHBRIDGE INTERNATIONAL LLC
(“Holder”).  Capitalized terms used but not defined herein shall have the
meanings ascribed to such terms in the Warrant (as defined below).
 
WHEREAS, Company and Holder entered into that certain Securities Purchase
Agreement dated November 6, 2007 (the “Stock Agreement”), pursuant to which
Holder purchased a total of Five Hundred Forty Thousand One Hundred Eighty-Eight
(540,188) Warrant Shares (as defined in the Stock Agreement);
 
WHEREAS, in connection with the Stock Agreement, Company executed that
certain  Common Stock Purchase Warrant dated November 6, 2007 (the “Warrant”)
granting Holder the right to purchase up to Five Hundred Forty Thousand One
Hundred Eighty-Eight (540,188) shares of common stock of the Company; and
 
WHEREAS, pursuant to Section 5(l) of the Warrant, each of the parties hereto
desire to amend the Warrant as set forth herein.
 
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto hereby agree as follows:
 
1. Exercise Price.  Section 2(b) of the Warrant is amended and restated in its
entirety as follows:
 
“(b) Exercise Price.  The exercise price per share of the Common Stock under
this Warrant shall be $0.28, subject to adjustment as provided hereunder (the
‘Exercise Price’).”
 
2. Expiration Date.  The Termination Date set forth in the preamble of the
Warrant is extended to August 11, 2014.
 
3. Full Force and Effect.  Other than as modified in accordance with the
foregoing provisions, the remaining terms of the Amended and Restated Warrant
remain in full force and effect.
 
4. Counterparts.  This Amendment may be executed in several counterparts, each
of which shall be deemed an original, but all of which together shall constitute
one and the same document.
 
5. Governing Law.  This Amendment shall be governed by and construed and
interpreted in accordance with the laws of the State of New York without giving
effect to conflict of laws principles thereof.
 

 
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6. Headings.  Headings of Sections in this Amendment are for reference purposes
only and shall not be deemed to have any substantive effect.
 
 
 
[Remainder of page intentionally left blank; Signature page to follow.]
 

 
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
date first above written.
 

 
COMPANY:
 
 
HYTHIAM, INC.
 
 
By:  
/s/ TERREN S. PEIZER
   
Terren S. Peizer
   
Chief Executive Officer
         
HOLDER:
 
 
HIGHBRIDGE INTERNATIONAL LLC
 
 
By:
Highbridge Capital Management, LLC
 
Its Trading Manager
       
By:  
/s/ MARK J. VANACORE  
   
Mark J. Vanacore
   
Managing Director

 
 
 
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