Exhibit
10.14




FIRST
AMENDMENT TO WAIVER AND FORBEARANCE AGREEMENT




THIS
FIRST AMENDMENT TO WAIVER AND FORBEARANCE AGREEMENT is made on September 17,
2010 (this “Agreement”),
by and between Bison Capital Equity Partners II-A, L.P., a Delaware limited
partnership, and Bison Capital Equity Partners II-B, L.P., a Delaware limited
partnership (collectively, “Purchaser”),
on the one hand, and The Center for Wound Healing, Inc., a Nevada corporation
(the “Company”),
on the other hand.  Any capitalized term used but not otherwise defined
herein shall have the same meaning as set forth in either the Waiver and
Forbearance Agreement dated as of May 24, 2010 by and between Purchaser and the
Company (the “Forbearance
Agreement”) or the Securities Purchase Agreement dated as of March 31,
2008 by and between Purchaser and the Company, as amended by the First Amendment
to Securities Purchase Agreement dated as of April 16, 2009, the Second
Amendment to Securities Purchase Agreement dated February 12, 2010, the Third
Amendment to Securities Purchase Agreement dated May 24, 2010 and the Fourth
Amendment to Securities Purchase Agreement dated of even date herewith (as
otherwise amended, the “Securities
Purchase Agreement”).




WHEREAS,
Purchaser and the Company entered into the Forbearance Agreement whereby, among
other things, Purchaser agreed to forbear from accelerating the Obligations as a
result of a breach of the EBITDA Covenant and Consolidated Leverage Ratio
Covenant during the Forbearance Period; and




WHEREAS,
the parties now desire to amend the Forbearance Agreement to, among other
things, extend the Forbearance Period subject to the terms and conditions set
forth herein.




NOW,
THEREFORE, in consideration of the premises and mutual covenants contained
herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as
follows:




1. 
         Subsection (a) of Section 3 of the Forbearance
Agreement is hereby amended so that "July 1, 2011" is inserted in lieu of "April
1, 2011".




2.           In
partial consideration of Purchaser’s agreement to enter into this Agreement, the
Company shall pay to Purchaser, prior to the effectiveness of this Agreement,
all attorneys’ fees and other Purchaser's Expenses incurred by or on behalf of
Purchaser pursuant to, in respect of or otherwise in connection with this
Agreement.




3.           Each
of the Company, its subsidiaries, affiliates, officers, directors and
representatives (together, the “Releasing
Parties” it being understood that none of the Purchaser or its current or
former agents, employees, officers, directors, owners, limited partners or
general partners is a Releasing Party) fully releases and discharges forever
Purchaser and its current and former agents, employees, officers, directors,
owners, limited partners, general partners, representatives, attorneys, assigns,
successors, and affiliated organizations (hereafter referred to collectively as
the “Released
Parties”, it being understood that none of the Company or its
subsidiaries is a Released Party), and each and all of them, from any and all
liabilities, claims, causes of action, charges, complaints, obligations, costs,
losses, damages, injuries, attorneys’ fees, and other legal responsibilities, of
any form whatsoever, whether known or unknown, unforeseen, unanticipated,
unsuspected or latent, which the Releasing Parties have incurred or expect to
incur, or now own or hold, or have at any time heretofore owned or held, or may
at any time own, hold, or claim to hold by reason of any matter or thing arising
from any cause whatsoever prior to the date of this Agreement.  This
Agreement does not purport to release claims that cannot be released as a matter
of law.




-1-


Each
Releasing Party acknowledges and intends that the Released Parties are being
released from unknown and unforeseen claims to the fullest extent permitted by
law and each Releasing Party waives any defenses based thereon.  Each
Releasing Party expressly waives and relinquishes all rights and benefits that
the Releasing Party may have under any statute or other applicable law
comparable to Section 1542 of the California Civil Code, which Section 1542 is
intended to protect against an inadvertent release of unknown or unsuspected
claims, and reads as follows:




“Section
1542. [General Release; extent.] A general release does not extend to claims
which the creditor does not know or suspect to exist in his or her favor at the
time of executing the release, which if known by him or her must have materially
affected his or her settlement with the debtor.”




Each
Releasing Party, being aware of said Section 1542, hereby expressly waives any
rights the Releasing Party may have under any statutes, other applicable law or
common law principles of similar effect, with respect to the claims purported to
be released hereby.




Each
Releasing Party covenants and agrees never to commence, prosecute or assist in
any way, or cause, permit or advise to be commenced or prosecuted, any action,
proceeding, or discovery against any Released Party based on any released
claim.




Each
Releasing Party agrees to indemnify and hold Purchaser and the other persons and
entities released by this Agreement harmless from and against any and all claims
arising from or in connection with any action or proceeding brought by it or for
its benefit or on its initiative contrary to the provisions of this
Agreement.  This Agreement shall be deemed breached and a cause of action
shall accrue immediately upon the commencement of any action or proceeding
contrary to this Agreement, and in any such action or proceeding this Agreement
may be pleaded as a defense by any person or entity released by this Agreement,
or may be asserted by way of cross-complaint, counterclaim or cross-claim in any
such action or proceeding.




4. 
         This Agreement shall not be effective until
the date upon which Purchaser receives each of the following (in each case in
form and substance satisfactory to  Purchaser):




(a) 
         counterparts of this Agreement, duly executed
by the Company;




(b)         
the Consent of Guarantors, in the form attached hereto as Exhibit A, duly
executed by each of Guarantor listed on the signature pages
thereto;




(c)          a
consent, in the form attached hereto as Exhibit B, with
respect to the execution, delivery and performance of this Agreement, duly
executed by Senior Lender; and




-2-


(d)          $50,000,
which represents the fees and expenses described in Section 2 of this
Agreement and unpaid fees and expenses incurred by Purchaser in connection with
the Forbearance Agreement and past amendments requested by the
Company.




5. 
         This Agreement amends the Forbearance
Agreement and all references to the Forbearance Agreement shall be deemed to
incorporate this Agreement.  Except as specifically set forth herein, all
other terms and conditions of the Forbearance Agreement and other Transaction
Documents shall remain in full force and effect and shall not be affected by
this Agreement.




6. 
         This Agreement may be executed in any number
of counterparts, each of which shall be deemed to be an original as against any
party whose signature appears hereon, and all of which shall together constitute
one and the same instrument.  This Agreement shall become binding when one
or more counterparts hereof, individually or taken together, shall bear the
signatures of all of the parties reflected hereon as the
signatories.




7.          Sections 14.5, 14.6, 14.7 and 14.8 of the
Securities Purchase Agreement are hereby incorporated by reference and made a
part of this Agreement mutatis
mutandis, except that the references therein to “this Agreement” shall
include this Agreement.




8. 
         The Company confirms and agrees that this
Agreement shall constitute a Transaction Document under the Securities Purchase
Agreement.  Accordingly, it shall be an Event of Default under the
Securities Purchase Agreement if any representation or warranty made or deemed
made by the Company under or in connection with this Agreement shall have been
incorrect in any material respect when made or deemed made or if the Company
fails to perform or comply with any covenant or agreement contained
herein.




[Signature
Page Follows]




-3-


IN
WITNESS WHEREOF, the parties hereto have each caused this Agreement to be duly
signed as of the date first above written.




BISON
      CAPITAL EQUITY PARTNERS
                II-A,
      L.P.By:
      BISON CAPITAL PARTNERS II,
                LLC,
      its general partnerBy:
              /s/ Douglas B. TrusslerName:
              Douglas
      B. TrusslerTitle:
              Managing
      MemberBISON
      CAPITAL EQUITY PARTNERS
                II-B,
      L.P.By:
      BISON CAPITAL PARTNERS II,
                LLC,
      its general partnerBy:
              /s/ Douglas B. TrusslerName:
              Douglas
      B. TrusslerTitle:
              Managing
      MemberTHE
      CENTER FOR WOUND HEALING,
                INC.By:
              /s/ Andrew G. BarnettName:
              Andrew
      G. BarnettTitle:
              Chief
      Executive Officer




Signature
Page to First Amendment To Waiver and Forbearance Agreement







Exhibit
A




Consent of
Guarantors




This
Consent of Guarantors (this “Consent”)
is delivered to Bison Capital Equity Partners II-A, L.P., a Delaware limited
partnership and Bison Capital Equity Partners II-B, L.P., a Delaware limited
partnership (collectively, “Purchaser”)
with reference to that certain Securities Purchase Agreement dated as of March
31, 2008 as amended by the First Amendment to Securities Purchase Agreement
dated as of April 16, 2009, the Second Amendment to Securities Purchase
Agreement dated February 12, 2010, the Third Amendment to Securities Purchase
Agreement dated May 24, 2010 and the Fourth Amendment to Securities Purchase
Agreement dated of even date herewith (as otherwise amended, the “Securities
Purchase Agreement”) among Subordinated Lender and The Center for Wound
Healing, Inc., a Nevada corporation (the “Company”). 
Capitalized terms used in this Consent, and not otherwise defined, are used with
the meanings set forth for those terms in the Securities Purchase
Agreement.




Each of
the undersigned hereby (a) ratifies and reaffirms all of its obligations to
Purchaser under the Transaction Documents to which it is a party, (b) consents
to the execution and delivery by the Company of the First Amendment To Waiver
and Forbearance Agreement dated as of September __, 2010 (the “Agreement”),
between Purchaser and the Company, and (c) confirms that each of the Transaction
Documents to which it is a party remains in full force and effect.  Each of
the undersigned agrees that the execution of this Consent is not necessary for
the continued validity and enforceability of the Transaction Documents, but is
executed in order to induce Purchaser to enter into the Agreement.




[signature
page follows]




Exhibit A
- 1


IN
WITNESS WHEREOF, each of the undersigned, intending to be legally bound hereby,
has caused this Consent of Guarantors to be executed as of the date of the
Agreement.




NEW
      YORK HYPERBARIC AND WOUND CARE CENTERS, L.L.C.CFWH
      (NEW JERSEY) LLCCFWH
      (NEW YORK) LLCCFWH
      (DELAWARE), LLCCFWH
      (PENNSYLVANIA), LLCCFWH
      (MASSACHUSETTS), LLCBy
      their managers/membersTHE
      CENTER FOR WOUND HEALING, INC.By:Andrew G. BarnettChief Executive OfficerTHE
      CENTER FOR WOUND HEALING, INC.By:Andrew G. BarnettChief Executive
Officer


Exhibit A
- 2


Exhibit
B




Consent of Senior
Lender




CONSENT
OF SENIOR LENDER




This
Consent of Senior Lender (this “Consent”)
is delivered to Bison Capital Equity Partners II-A, L.P., a Delaware limited
partnership and Bison Capital Equity Partners II-B, L.P., a Delaware limited
partnership (collectively, “Subordinated
Lender”) and The Center for Wound Healing, Inc., a Nevada corporation
(the “Company”)
with reference to that certain Subordination and Intercreditor Agreement dated
of as March 31, 2008 (as amended or otherwise modified, the “Subordination
Agreement”), among Subordinated Lender, the Company, and Signature Bank
(“Senior
Lender”).  Senior Lender has been provided with a copy of that
certain First Amendment To Waiver and Forbearance Agreement dated as of
September __, 2010 (the “Agreement”),
among Subordinated Lender and the Company.  Capitalized terms used in this
Consent, and not otherwise defined, are used with the meanings set forth for
those terms in the Agreement and/or the Waiver and Forbearance Agreement dated
as of May 24, 2010 by and between Purchaser and the Company (the “Forbearance
Agreement”).




Notwithstanding
any contrary terms contained in the Subordination Agreement, Senior Lender
hereby consents to the Agreement.




[signature
page follows]




Exhibit B
- 1


IN WITNESS WHEREOF, the undersigned,
intending to be legally bound hereby, has caused this Consent of Senior Lender
to be executed as of the date of the Forbearance Agreement.




SIGNATURE
BANK





By:Name:Title:




Exhibit B
- 2