| Mr.      Thomas Sandgaard, CEOMr.      Fritz Allison, CFO8022      Southpark CircleLittleton,      CO 80120 |
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|   |   |
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|   | Re: | Loan      and Security Agreement |
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Dear Mr. Sandgaard and Mr. Allison:

| 1.   | TTM      EBITDA:  $6,500,000 at the end of fourth quarter,      2008. |
|----------------|---------------------------------------------------------------------------------|

| 2.   | Debt      Service Coverage Ratio: 3.00 at the end of fourth quarter,      2008. |
|----------------|---------------------------------------------------------------------------------|

| 3.   | TTM      EBITDA:  $7,500,000 at the end of first quarter, March 31,      2009 |
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| 1.   | TTM      EBITDA:   $826,661 |
|----------------|--------------------------------------------|

| 2.   | Q4      2008 DSC: 1.59:1.00 |
|----------------|-----------------------------|

| 3.   | TTM      EBITDA:   $1,239,000 |
|----------------|----------------------------------------------|

| 1.   | The      default concerning Zynex’s failure to meet the TTM EBITDA covenant at the      quarter ending December 31, 2008 and the anticipated default regarding the      failure to meet the TTM EBITDA covenant at the quarter ending March 31,      2009 are not curable based on financial statements and projections for      these dates.  Marquette      is willing to forbear taking action on the financial covenant defaults for      the quarters ending December 31, 2008 and March 31, 2009; specifically,      waiving a default fee and default interestrate. |
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| 000’s                    | 9/31/2008 | 12/31/2008 | 3/31/2009 | 6/30/2009 | 9/30/2009 | 12/31/2009 |
|--------------------------------|-----------|------------|-----------|-----------|-----------|------------|
| Orig.      TTM EBITDA Covenent | Waived    | 6,500      | 7,500     | 8,200     | 11,500    | 13,000     |
| TIM      EBITDA Actual         | 7,430     | 827        |      |      |      |       |
| TIM      EBITDA Projected      |      |       | 1,239     | 1,795     | 4,065     | 5,139      |
| MHF      Proposed EBITDA Reset |      | Waive      | Waive     | 1,436     | 3,252     | 4,111      |
|                           |      |       |      |      |      |       |

| 2.   | The      default concerning Zynex’s failure to meet the Debt Service Coverage ratio      covenant at the quarter ending December 31, 2008 is not curable based on      financial statements for the same date.  Marquette      is willing to forbear taking action on the financial covenant default for      the quarter ending December 31, 2008; specifically, waiving a default fee      and default interest rate.   |
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| 3.   | Zynex      has restated its unaudited financial statements for the quarters ended      March 31, June 30 and September 30, 2008.  Marquette waives any      breach of a representation, warranty or covenant concerning the accuracy      of the original unaudited financial statements for these quarterly      periods.  Notwithstanding the foregoing, Marquette expressly      reserves any right to declare a default, and any other claim, right or      remedy with respect to (a) the restated financial statements for these      quarterly periods; and (b) any fraud or intentional misrepresentation in      connection with the original financial statements for these quarterly      periods. |
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| 4.   | Marquette      will amend the Loan and Security Agreement to reflect the following      pricing change: |
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| ·   | Margin:  3.25% |
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| ·   | Collateral      Monitoring fee:  $1,750 per month, payable in arrears on the      first day of the month. |
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