Document:

SETTLEMENT
      AGREEMENT

     

    This
      Settlement Agreement (the “Agreement”)
      is
      made as of August 9, 2007, by and among Med-Air Consultants, Inc. (“Med-Air”),
      Alan
      Richer (“Richer”),
      Joel
      Macher (“Macher”
and,
      together with Richer and Med-Air, the “Med-Air
      Parties”),
      and
      The Center For Wound Healing, Inc. (“CFWH”).
      (Med-Air, Richer, Macher, and CFWH are each referred to herein as a
“Party”
or,
      collectively, as the “Parties”).
      Capitalized terms used in this Agreement are defined or cross-referenced in
      Article 15.

     

    Recitals

     

    WHEREAS,
      CFWH is a Nevada corporation in the business of providing management services
      to
      certain healthcare services including hyperbaric medicine and wound care
      centers; and

     

    WHEREAS,
      New York Hyperbaric & Wound Care Centers LLC (“NY
      Hyperbaric”)
      is a
      limited liability company formed under the laws of Delaware, and is a
      majority-owned Subsidiary of CFWH; and

     

    WHEREAS,
      Med-Air is a New York corporation in the business of providing equipment to
      healthcare providers and providing certain healthcare management services to
      hospitals; and

     

    WHEREAS,
      all of the issued and outstanding shares of common stock of Med-Air are owned
      by
      Richer and Macher; and

     

    WHEREAS,
      on or about September 1, 1999, Med-Air entered into a Consultation Agreement
      with Elise King LLC (“EKLLC”),
      Atmo
      Inc. (“Atmo”),
      Keith
      Greenberg (“Keith”)
      and
      Elise Greenberg (“Elise”
and
      together with Keith, the “Greenbergs”)
      whereby, among other things, Med-Air agreed to lease one hyperbaric chamber
      to
      EKLLC, Atmo and the Greenbergs (collectively, the “Greenberg
      Group”)
      for
      installation at New Island Hospital Hyperbaric Center (“New
      Island Hospital”)
      and
      further agreed to use its best efforts to assist or facilitate the Greenberg
      Group in establishing hyperbaric equipment or facilities in hospitals or
      outpatient facilities and in obtaining hyperbaric equipment for placement in
      various facilities (the “New
      Island Contract”);
      and

     

    WHEREAS,
      on or about November 20, 2000, Med-Air entered into a Consultation Agreement
      with EKLLC, NY Hyperbaric, and the Greenbergs whereby, among other things,
      Med-Air agreed to provide two hyperbaric chambers to EKLLC for installation
      and
      use at Montefiore Medical Center at its Moses Division Hospital (the
“Montefiore
      Contract”);
      and

     

    WHEREAS,
      on or about September 1, 2001, Med-Air entered into a Consulting Agreement
      with
      The Square Hyperbaric & Wound Care Center, LLC (the “Square”),
      John
      Capotorto (“Capotorto”),
      Phillip Forman (“Forman”),
      Keith, Elise and Stephen Greenberg (“Stephen”)
      whereby, among other things, Med-Air agreed to furnish certain hyperbaric
      equipment to the Square for use at New York Westchester Square Medical Center
      in
      the Bronx, New York (the “Westchester
      Square Hospital”)
      and to
      provide certain consulting services to the Square (the “Westchester
      Square Contract”);
      and

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    WHEREAS,
      on or about September 10, 2002, Med-Air entered into a Consultation Agreement
      with NY Hyperbaric whereby, among other things, Med-Air agreed to furnish
      certain hyperbaric equipment to NY Hyperbaric for use at Clara Maass Medical
      Center (“Clara
      Maass Hospital”)
      and to
      provide certain consulting services to NY Hyperbaric (as amended by an addendum
      dated September 10, 2002, the “Clara
      Maass Contract”);
      and

     

    WHEREAS,
      on or about [Date], [Med-Air] entered into a [Consultation Agreement] with
      [Far
      Rockaway Hyperbaric LLC (“Far
      Rockaway LLC”)]
      whereby, among other things, Med-Air agreed to lease [two (2)] hyperbaric
      chambers to [Far Rockaway LLC] for installation at St. John’s Episcopal
      Hospital, a division of Episcopal Health Services, Inc. (the “Far
      Rockaway Hospital”),
      and
      provide certain consulting services to Far Rockaway LLC (the “Far
      Rockaway Contract”);
      and

     

    WHEREAS,
      on or about March 1, 2003, Med-Air entered into a Consultation Agreement with
      Jefferson Hyperbaric & Wound Care Centers, LLC (“Jefferson
      LLC”)
      whereby, among other things, Med-Air agreed to furnish certain hyperbaric
      equipment to Jefferson Hyperbaric for use at Thomas Jefferson University
      Hospital (“Thomas
      Jefferson Hospital”)
      and
      provide certain consulting services to Jefferson LLC (as amended by an addendum
      dated March 1, 2003, the “Thomas
      Jefferson Contract,”
and,
      together with the New Island Contract, the Montefiore Contract, the Westchester
      Square Contract, and the Clara Maass Contract, the “Consulting
      Agreements”);
      and

     

    WHEREAS,
      on or about June 16, 2006, CFWH acquired all of the membership interests of
      Far
      Rockaway LLC; and

     

    WHEREAS,
      in connection with the acquisition by CFWH of the membership interests of Far
      Rockaway LLC, CFWH issued and delivered a promissory note payable to [Med-Air
      and Braintree, Inc.] in the original principal face amount of $1,350,000 (the
      “Far
      Rockaway Note”),
      all
      of which remains due and payable as of the date hereof; and

     

    WHEREAS,
      Bayonne Hyperbaric LLC (“Bayonne
      LLC”)
      is a
      limited liability company formed under New Jersey law for the purpose of
      providing Bayonne Medical Center (“Bayonne
      Hospital”)
      with
      those administrative and other services requested by Bayonne Hospital in
      connection with the delivery of hyperbaric treatment and wound care to patients
      of Bayonne Hospital pursuant to that certain Administrative Services Agreement
      dated as of July 15, 2005 by and between Bayonne Hospital and American
      Hyperbaric, Inc. d/b/a The Center For Wound Healing; and

     

    WHEREAS,
      40% of the membership interests of Bayonne LLC are owned by Med-Air (the
“Med-Air
      Bayonne Interests”);
      20%
      of the membership interests of Bayonne LLC are owned by Rich Morris; and the
      balance, 40%, of the membership interests of Bayonne LLC are owned by CFWH;
      and

     

    WHEREAS,
      Southampton Hyperbaric, LLC (“Southampton
      LLC”)
      is a
      limited liability company formed under New York law for the purpose of providing
      Southampton Hospital (“Southampton
      Hospital”)
      with
      those administrative and other services requested by Southampton Hospital in
      connection with the delivery of hyperbaric treatment and wound care to patients
      of Southampton Hospital pursuant to that certain Administrative Services
      Agreement, dated as of May 17, 2004, by and between Southampton Hospital and
      Southampton LLC d/b/a The Center For Wound Healing; and 

    
      
        
        

      

      
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    WHEREAS,
      51% of the membership interests of Southampton LLC are owned by Med-Air; the
      balance of 49% is owned by CFWH (the “CFWH
      Southampton Interests”);
      and

     

    WHEREAS,
      Raritan Bay Hyperbaric, LLC (“Raritan
      Bay LLC”)
      is a
      limited liability company formed under New Jersey law for the purpose of
      providing Raritan Bay Medical Center (“Raritan
      Bay Hospital”)
      with
      those administrative and other services requested by Raritan Bay Hospital in
      connection with the delivery of hyperbaric treatment and wound care to patients
      of Raritan Bay Hospital pursuant to that certain Hyperbaric and Wound Care
      Services Agreement, dated as of May 27, 2005, by and between Raritan Bay
      Hospital and New Jersey Hyperbaric, LLC d/b/a The Center For Wound Healing,
      which was subsequently assigned to Raritan Bay LLC; and 

     

    WHEREAS,
      51% of the membership interests of Raritan Bay LLC are owned by Med-Air (the
      “Med-Air
      Raritan Bay Interests”);
      the
      balance of 49% is owned by CFWH; and

     

    WHEREAS,
      CFWH provides Wilkes-Barre General Hospital (“WVHC-Hospital”)
      with
      those administrative and other services requested by WVHC-Hospital in connection
      with the delivery of hyperbaric treatment and wound care to patients of
      WVHC-Hospital pursuant to that certain Administrative Services Agreement, dated
      as of March 7, 2006, by and between WVHC-Hospital and The Center For Wound
      Healing, Inc. (the “Wilkes-Barre
      ASA”);
      and

     

    WHEREAS,
      certain of the Med-Air Parties may have interests in or claims with respect
      to
      the Wilkes-Barre ASA and/or the profits, revenues, and/or benefits obtained
      by
      CFWH thereunder (the “Med-Air
      Wilkes-Barre Interests”);
      and

     

    WHEREAS,
      on or about July 8, 2004, Macher, Richer, Med-Air, EKLLC, NY Hyperbaric, The
      Center For Wound Healing, Inc., Capotorto and Forman executed an agreement
      whereby, among other things, Macher, Richer and Med-Air voided the right of
      first refusal granted to Med-Air in each of the Consulting Agreements in
      consideration of NY Hyperbaric’s promise to develop twelve (12) new hyperbaric
      and wound care centers with Med-Air over a four-year period, which facilities
      would be co-owned 49% by NY Hyperbaric and 51% Med-Air (the “Med-Air
      2004 Modification,”
and,
      together with the Consulting Agreements, the “Med-Air
      Contracts”);
      and

     

    WHEREAS,
      various disputes have arisen regarding the rights and obligations of each of
      the
      Parties under the Med-Air Contracts; and

     

    WHEREAS,
      the Parties wish to resolve all disputes that have arisen under the Med-Air
      Contracts and avoid the expense, risk and uncertainty of
      litigation;

     

    NOW,
      THEREFORE, in consideration of the representations, acknowledgements, promises
      and covenants contained herein, and for other good and valuable consideration,
      the sufficiency of which is hereby acknowledged, each of the Parties hereby
      voluntarily, intentionally, and upon the advice and guidance of counsel, agrees
      as follows:

    
      
        
        

      

      
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    ARTICLE
      1

    SETTLEMENT
      AND EFFECTIVE DATE

     

    1.1. Denial
      of Liability.
      This
      Agreement is entered into only for the purposes of settlement and compromise
      of
      the matters covered by this Agreement in order to avoid the uncertainties,
      risks
      and expenses attendant to litigation among the Parties. Neither this Agreement,
      nor anything contained herein, nor any act or thing done or to be done in
      connection herewith, is intended to be, or shall be construed or deemed to
      be,
      an admission or a denial by any of the Parties of any liability, fault or
      wrongdoing.

     

    1.2. Effective
      Date.
      This
      Agreement shall become effective and its terms enforceable by the Parties upon
      the execution by each of the Parties of the signature pages and the mutual
      exchange and delivery of such executed signature pages by CFWH and Med-Air
      Parties. On the Effective Date, Med-Air shall deliver the Disclosure Schedules,
      or cause the Disclosure Schedules to be delivered, to CFWH.

     

    ARTICLE
      2

    
      CERTAIN
        CONSIDERATION

    

     

    2.1. Termination
      of Certain Med-Air Contracts.
      The
      Parties hereby agree that the Med-Air Contracts shall terminate on the Closing
      Date except for the Far Rockaway Contract which shall continue in full force
      and
      effect until it terminates on the earlier to occur of (a) June 30, 2008, and
      (b)
      the payment and satisfaction of all liabilities of CFWH under the Far Rockaway
      Note. No provision of any of the Med-Air Contracts (other than the Far Rockaway
      Contract) shall be enforceable by or against any of the Parties or any other
      person after the occurrence of the Closing Date.

     

    2.2. Consideration
      to Med-Air.
      In
      consideration for the termination of the Med-Air Contracts, Med-Air’s agreement
      to transfer to CFWH the Med-Air Bayonne Interests, the Med-Air Raritan Bay
      Interests, and the Med-Air Wilkes-Barre Interests, the release by the Med-Air
      Group of various claims against the CFWH Group; and the other good and valuable
      consideration received from the Med-Air Group as described herein, CFWH agrees
      that, at Closing, it shall:

     

    (a) promise
      to pay to Med-Air the sum of $1,894,250.00 over the 36 month period commencing
      on June 30, 2007, which promise shall be evidenced by a promissory note in
      the
      form of that annexed hereto as Exhibit A (the “Med-Air
      Note”);
      and

     

    (b) issue
      and
      deliver 150,000 shares of restricted CFWH common stock to Macher (the
“Macher
      Stock”);

     

    (c) issue
      and
      deliver 150,000 shares of restricted CFWH common stock to Richer (the
“Richer
      Stock”);
      and

     

    (d) deliver
      to Med-Air a Membership Transfer Agreement evidencing the transfer by CFWH
      of
      the CFWH Southampton Interests to Med-Air, free and clear of all Liens and
      Encumbrances thereon.

    
      
        
        

      

      
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    2.3. Good
      Faith Payment.
      Med-Air
      acknowledges its receipt of $25,000 from CFWH, which was paid by CFWH to Med-Air
      on or about May 4, 2007 as a good faith payment toward the first installment
      payment due under the Med-Air Note (the “Good
      Faith Payment”).
      Med-Air agrees that the Good Faith Payment shall be credited toward the first
      installment payment due under the Med-Air Note and, consequently, the balance
      remaining due under the Med-Air Note is $1,869,250 and that the unpaid portion
      of the first installment payment is $88,562.50. On the Effective Date, CFWH
      shall place the unpaid portion of the first installment payment in escrow with
      CFWH’s counsel, which amount shall be released to Med-Air on the Closing Date.

     

    2.4. Consideration
      to CFWH.
      In
      consideration for the termination of the Med-Air Contracts, CFWH’s agreement to
      transfer to Med-Air the CFWH Southampton Interests, the release by the CFWH
      Group of various claims against the Med-Air Group, and the other good and
      valuable consideration received from the CFWH Group as described herein, the
      Med-Air Parties (a) agree that, at Closing, they shall deliver to CFWH
      Membership Transfer Agreements evidencing the transfer by the applicable Med-Air
      Parties to CFWH, free and clear of all Liens and Encumbrances thereon, of (i)
      the Med-Air Bayonne Interests and (ii) the Med-Air Raritan Bay Interests and
      (b)
      hereby transfer all of the Med-Air Parties’ rights in and to the Med-Air
      Wilkes-Barre Interests, and otherwise waive any and all rights and claims they
      may have with respect to the Med-Air Wilkes-Barre Interests. 

     

    2.5. Macher
      Stock and Richer Stock. If
      the
      Macher Stock and Richer Stock is (i) not eligible for public resale under Rule
      144 one year following the Closing Date or (ii) the resale of such stock is
      not
      otherwise registered for resale under the 1933 Act within one year following
      the
      Closing Date, due in either case to the failure of CFWH to satisfy the current
      public information requirements of Section 144(c) because of its failure to
      timely file any periodic report with the SEC for any quarterly or annual period
      ending on or after March 31, 2008 (taking into account any extensions of the
      due
      date of such reports pursuant to Rule 12b-25 promulgated under the 1934 Act),
      Macher and Richer as the holders of the Macher Stock (and any stock issuable
      pursuant to the Macher Stock) and the Richer Stock (and any stock issuable
      pursuant to the Richer Stock), respectively (collectively, the “Holders”
and
      such shares, the “Registrable
      Securities”)
      shall
      have Piggyback Registration Rights (“Piggyback
      Registration Rights”).
      For
      purposes of this Section 2.5, solely to the extent that the Holders become
      eligible to receive Piggyback Registration Rights under this Section 2.5, if
      CFWH proposes to register any of its common stock under the 1933 Act for sale
      to
      the public, whether for its own account or for the account of other stockholders
      or both (except with respect to registration statements on Form S-8, S-4 or
      another form not available for registering the Registrable Securities for sale
      to the public) (each, a “Piggyback
      Registration”),
      CFWH
      will give written notice to the Holders of its intention to effect such
      registration and will include in such registration all Registrable Securities
      with respect to which CFHW has received written requests for inclusion within
      five (5) business days after the receipt of CFHW’s notice (a “Piggyback
      Registration Request”);
      provided, however, that CFHW shall not be required to include Registrable
      Securities in the securities to be registered pursuant to a registration
      statement on any form which limits the amount of securities which may be
      registered by the issuer and/or selling security holders if, and to the extent
      that, such inclusion would make the use of such form unavailable. In the event
      that any Piggyback Registration shall be, in whole or in part, an underwritten
      public offering, any Piggyback Registration Request by a Holder shall specify
      that either (a) such Registrable Securities are to be included in the
      underwriting on the same terms and conditions as the shares of common stock
      otherwise being sold through underwriters under such registration, or
      (b) such Registrable Securities are to be sold in the open market without
      any underwriting, on terms and conditions comparable to those normally
      applicable to offerings of common stock in reasonably similar circumstances.
      If
      a Piggyback Registration is an underwritten primary registration on behalf
      of
      CFHW and/or stockholders, and the managing underwriters advise CFHW in writing
      that in their opinion the number of shares requested to be included in such
      registration exceeds the maximum number which can be included in such offering
      without adversely affecting the marketability of the offering (the “Maximum
      Number”),
      CFHW
      will limit the number of shares included in such registration to the Maximum
      Number, and the shares registered shall be selected in the following order
      of
      priority: (i) first, the shares CFHW proposes to sell, and
      (ii) second, shares to be sold by other stockholders, allocated among such
      stockholders pro-rata according to the proportion of the securities to be sold
      by each stockholder in the proposed distribution derived by dividing the number
      of securities proposed to be sold by all stockholders. In addition, the Holders
      agree not to effect any public sale or distribution (including sales pursuant
      to
      Rule 144) of equity securities of CFHW, or any securities convertible into
      or exchangeable or exercisable for such securities, during the seven
      (7) days prior to (provided that the Holders receive a notice from CFHW of
      the commencement of such seven-day period) and the 45-day period beginning
      on
      the effective date of any registration statement for an underwritten Piggyback
      Registration in which Registrable Securities are included (except as part of
      such underwritten registration), unless the underwriters managing the registered
      public offering otherwise agree. Notwithstanding the foregoing, the Holders’
Piggyback Registration Rights shall terminate on the earliest of (i) two years
      after the Closing Date or (ii) such time as the Registrable Securities become
      eligible for resale pursuant to Rule 144(k) under the 1933 Act.

    
      
        
        

      

      
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    2.6. Macher
      and Richer Representations. In connection with the issuance of the Macher
      Stock and the Richer Stock pursuant to Section 2.5, each Holder hereby
      represents and warrants:

     

    (a) the
      Holder is an accredited investor within the meaning of Rule 501 of Regulation
      D
      promulgated under the 1933 Act, is knowledgeable, sophisticated and experienced
      in making, and is qualified to make, decisions with respect to investments
      in
      shares representing an investment decision like that involved in the purchase
      of
      the Macher Stock and the Richer Stock; 

     

    (b) the
      Holder (i) is acquiring the Macher Stock or the Richer Stock, as the case may
      be, for its own account for investment only and has no intention of selling
      or
      distributing any of such stock or any arrangement or understanding with any
      other Persons regarding the sale or distribution of such stock except as would
      not result in a violation of the 1933 Act and; (ii) the Holder will not,
      directly or indirectly, offer, sell, pledge, transfer or otherwise dispose
      of
      (or solicit any offers to buy, purchase or otherwise acquire or take a pledge
      of) any of the stock except pursuant to and in accordance with the 1933 Act;
      

     

    (c) the
      Holder has received and reviewed CFWH’s public filings with the SEC and has
      requested, received, reviewed and considered all other information such Holder
      deems relevant in making an informed decision to purchase the Macher Stock
      or
      the Richer Stock, as the case may be. Such Holder has had an opportunity to
      discuss CFWH’s business, management and financial affairs with its management
      and also had an opportunity to ask questions of officers of CFWH that were
      answered to such Holder’s satisfaction; 

    
      
        
        

      

      
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    (d) the
      Holder recognizes that an investment in the Macher Stock or the Richer Stock,
      as
      the case may be, involves a high degree of risk, including a risk of total
      loss
      of such Holder’s investment. Such Holder is able to bear the economic risk of
      holding such stock for an indefinite period, and has knowledge and experience
      in
      the financial and business matters such that it is capable of evaluating the
      risks of the investment in the stock; and 

     

    (e) the
      Holder has, in connection with such Holder’s decision to purchase the Macher
      Stock or the Richer Stock, as the case may be, not relied upon any
      representations or warranties other than in the representations and warranties
      of the Company contained in this Agreement and such Holder has, with respect
      to
      all matters relating to this Agreement and the offer and sale of the stock,
      relied solely upon the advice of such Holder’s own counsel and has not relied
      upon or consulted any counsel to CFWH. 

     

    ARTICLE
      3

    
      CLOSING
        AND DELIVERIES

    

     

    3.1. Closing.
      The
      consummation of the transactions contemplated hereby (the “Closing”)
      shall
      take place at the offices of King & Spalding LLP, 1185 Avenue of the
      Americas, New York, New York at 9:00 a.m. on the third (3rd) Business Day
      following the Effective Date, or on such other date or at such other place
      and
      time as may be agreed to by the Parties (the “Closing
      Date”).

     

    3.2. Deliveries
      by CFWH.
      On the
      Closing Date, CFWH shall deliver, or cause to be delivered, to the Med-Air
      Group, the following items:

     

    (a) to
      Med-Air, the Med-Air Note, duly executed by CFWH with instructions to the escrow
      agent to deliver the balance of the first payment thereunder;

     

    (b) to
      Macher, a duly authorized certificate for 150,000 restricted shares of CFWH
      common stock; and

     

    (c) to
      Richer, a duly authorized certificate for 150,000 restricted shares of CFWH
      common stock;

     

    (d) to
      Med-Air, a Membership Transfer Agreement evidencing the transfer by CFWH of
      the
      CFWH Southampton Interests to Med-Air in the form attached hereto as Exhibit
      B,
      free and clear of all Liens and Encumbrances;

     

    (e) the
      certificate dated the Closing Date signed by the Chief Executive Officer of
      CFWH
      referred to in Sections 12.3(a) and (b) hereof; and

    
      
        
        

      

      
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    (f) a
      certificate of insurance with respect to the Six Chambers naming Med-Air as
      an
      additional insured.

     

    3.3. Deliveries
      by Med-Air.
      On the
      Closing Date, Med-Air shall deliver, or cause to be delivered, to CFWH the
      following items:

     

    (a) a
      Membership Transfer Agreement for all of the membership interests owned by
      Med-Air in Bayonne LLC, duly executed by Richer and Macher in the form attached
      hereto as Exhibit C, free and clear of all Liens and Encumbrances;

     

    (b) a
      Membership Transfer Agreement for all of the membership interests owned by
      Med-Air in Raritan Bay LLC, duly executed by Richer and Macher in the form
      attached hereto as Exhibit D,free and clear of all Liens and
      Encumbrances;

     

    (c) all
      files, books, records, documents, financial, technical and operating data,
      computer records and other information in the Med-Air Parties’ possession with
      respect to Bayonne LLC; and

     

    (d) the
      certificate dated the Closing Date signed by Richer and Macher referred to
      in
      Sections 12.2(a) and (b) hereof.

     

    ARTICLE
      4

    REPRESENTATIONS
      AND WARRANTIES OF CFWH

     

    CFWH
      hereby represents and warrants to the Med-Air Parties as follows, except in
      all
      cases as disclosed in the Disclosure Schedules:

     

    4.1. Corporate
      Organization.
      CFWH is
      duly organized, validly existing and in good standing under the Laws of the
      jurisdiction of its organization. CFWH has all requisite power and authority
      to
      own its properties and assets and to conduct its business as now
      conducted.

     

    4.2. Authorization
      and Validity.
      CFWH
      has all requisite power and authority to enter into this Agreement and the
      Transaction Documents to which it is or will be a party and to carry out its
      obligations hereunder and thereunder. The execution and delivery of this
      Agreement and the Transaction Documents and the performance by CFWH of its
      obligations hereunder and thereunder have been duly authorized by all necessary
      action by the board of directors of CFWH, and no other proceedings on the part
      of CFWH are necessary to authorize such execution, delivery and performance.
      This Agreement and the Transaction Documents have been or will be duly executed
      by CFWH and constitutes or will constitute, when executed, its valid and binding
      obligation, enforceable against it in accordance with the terms herein and
      therein, except that such enforceability may be limited by applicable
      bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or
      other similar laws affecting or relating to the enforcement of creditors’ rights
      generally and subject, as to enforceability, to general principles of
      equity.

     

    4.3. No
      Conflict or Violation.
      The
      execution, delivery and performance by CFWH of this Agreement and the
      Transaction Documents do not and will not (i) violate or conflict with any
      provision of the certificate of incorporation or by-laws (collectively, the
      “Organizational
      Documents”)
      of
      CFWH or (ii) violate any provision of law, regulation, rule or other legal
      requirement of any Government (“Law”)
      or any
      order, judgment or decree of any court or Government (“Order”)
      applicable to CFWH.

    
      
        
        

      

      
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    4.4. Southampton
      Membership Interests.
      At
      Closing, CFWH shall hold of record and own beneficially good and valid title
      to
      the Southampton Membership Interests, free and clear of any restrictions on
      transfer (other than restrictions under the 1933 Act and state securities laws),
      taxes, Liens, options, warrants, purchase rights, contracts, commitments,
      equities, claims, and demands. Other than the operating agreement governing
      Southampton LLC, CFWH is not a party to any option, warrant, purchase right,
      or
      other contract or commitment (other than this Agreement) that could require
      CFWH
      to sell, transfer, or otherwise dispose of the Southampton Membership Interests
      (or restrict CFWH from doing so) and each of the Parties hereby waives any
      rights of first refusal or otherwise it may have with respect to the transfer
      of
      the Southampton Membership Interests to Med-Air pursuant to the Southampton
      Operating Agreement or otherwise. CFWH is not a party to any voting trust,
      proxy, or other agreement or understanding with respect to the voting of the
      Southampton Membership Interests. CFWH owns all membership interests in
      Southampton LLC that are not owned by the Med-Air Parties and no other party
      has
      any third-party preemptive or subscription rights, rights of first refusal
      or
      offer, options, put or call rights, warrants or any other agreements or
      arrangements to purchase any of the Southampton Membership Interests.

     

    ARTICLE
      5

    REPRESENTATIONS
      AND WARRANTIES OF MED-AIR

     

    Med-Air
      hereby represents and warrants to CFWH as follows, except in all cases as
      disclosed in the Disclosure Schedules.

     

    5.1. Corporate
      Organization.
      Med-Air
      is duly organized, validly existing and in good standing under the Laws of
      the
      jurisdiction of its organization. Med-Air has all requisite power and authority
      to own its properties and assets and to conduct its business as now
      conducted.

     

    5.2. Authorization
      and Validity.
      Med-Air
      has all requisite power and authority to enter into this Agreement and the
      Transaction Documents to which it is or will be a party and to carry out its
      obligations hereunder and thereunder. The execution and delivery of this
      Agreement and the Transaction Documents and the performance of Med-Air’s
      obligations hereunder and thereunder have been duly authorized by all necessary
      action by the board of directors of Med-Air, and no other proceedings on the
      part of Med-Air are necessary to authorize such execution, delivery and
      performance. This Agreement and the Transaction Documents to which Med-Air
      is or
      will be a party have been or will be duly executed by Med-Air and constitute
      or
      will, when executed, constitute its valid and binding obligation, enforceable
      against it in accordance with the terms herein and therein, except that such
      enforceability may be limited by applicable bankruptcy, insolvency,
      reorganization, fraudulent conveyance, moratorium or other similar laws
      affecting or relating to the enforcement of creditors’ rights generally and
      subject, as to enforceability, to general principles of equity.

     

    5.3. No
      Conflict or Violation.
      The
      execution, delivery and performance by Med-Air of this Agreement and the
      execution and delivery of the Transaction Documents do not and will not (i)
      violate or conflict with any provision of the Organizational Documents of
      Med-Air, or (ii) violate any provision of Law, or any Order applicable to
      Med-Air.

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    5.4. Med-Air
      Membership Interests.
      At
      Closing, the Med-Air Parties shall hold of record and own beneficially good
      and
      valid title to the Med-Air Membership Interests, free and clear of any
      restrictions on transfer (other than restrictions under the 1933 Act and state
      securities laws), taxes, Liens, options, warrants, purchase rights, contracts,
      commitments, equities, claims, and demands. Other than the Med-Air Operating
      Agreements, Med-Air is not a party to any option, warrant, purchase right,
      or
      other contract or commitment (other than this Agreement) that could require
      Med-Air to sell, transfer, or otherwise dispose of the Med-Air Membership
      Interests (or restrict Med-Air from doing so) and each of the Parties hereby
      waives any rights of first refusal or otherwise it may have with respect to
      the
      transfer of the Med-Air Membership Interests to CFWH pursuant to the Med-Air
      Operating Agreement or otherwise. Med-Air is not a party to any voting trust,
      proxy, or other agreement or understanding with respect to the voting of the
      Med-Air Membership Interests. The Med-Air Parties own all Med-Air Membership
      Interests and no other party (other than CFWH) has any third-party preemptive
      or
      subscription rights, rights of first refusal or offer, options, put or call
      rights, warrants or any other agreements or arrangements to purchase any of
      the
      Med-Air Membership Interests and, except for the Med-Air Membership Interests,
      none of Med-Air nor any of its Related Persons has any legal or beneficial
      interest in any of the Med-Air Transferred LLCs or any of their assets except
      for de
      minimis
      assets.
      Macher hereby represents and warrants to CFWH that he owns (a) 20% of the
      membership interests in Bayonne LLC and (b) 25.5% of the membership interests
      Raritan Bay LLC. Richer hereby represents and warrants to CFWH that he owns
      (a)
      20% of the membership interests in Bayonne LLC and (b) 25.5% of the membership
      interests Raritan Bay LLC. 

     

    5.5. Far
      Rockaway Contract. As of the date hereof, the balance remaining due from Far
      Rockaway LLC to Med-Air under the Far Rockaway Contract for the Far Rockaway
      Chambers is, in the aggregate, not more than $42,000.00 (inclusive of the
      $9,950.00 purchase price for the Far Rockaway Chambers referred to in Section
      7.5 of this Agreement). 

     

    5.6. Certain
      Centers. Schedule 5.6 of the Disclosure Schedules sets forth a complete and
      correct list of each of the hospitals (and the location of such hospital) which,
      as of and/or prior to March 26, 2007, any of the Med-Air Parties or their
      respective Affiliates were negotiating with or had an agreement to assist,
      facilitate, or operate a Center, which Centers and/or hospitals were brought
      to
      the attention of the Med-Air Parties through Keith, Elise, Tom Boyer, and/or
      Rich Morris or any of their respective Affiliates.

     

    5.7. Prohibited
      Business. None of the Med-Air Parties have directly or indirectly engaged,
      acquired, or negotiated to acquire an economic or other interest, in any
      Prohibited Enterprise since March 26, 2007.

     

    5.8. Med-Air
      Center Portfolio. Schedule 5.8 of the Disclosure Schedules sets forth a
      complete and correct list (by name and address) of all of the Centers which
      the
      Med-Air Parties and their respective Affiliates own, operate, or have an
      economic interest in (or are negotiating to own, operate, or have an economic
      interest in), as of the Effective Date. 

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    5.9. Other
      Agreements Between the Parties. No agreements exist among any of the Parties
      other than the Med-Air Contracts, except as set forth on Schedule 5.9 of the
      Disclosure Schedules. 

     

    ARTICLE
      6

    COVENANTS
      OF CFWH

     

    CFWH
      hereby covenants to the Med-Air Parties as follows:

     

    6.1. Actions
      Before Closing.
      CFWH
      shall use commercially reasonable efforts to perform and satisfy all conditions
      to either Party’s obligations to consummate the transactions contemplated by
      this Agreement that are to be performed or satisfied by CFWH under this
      Agreement.

     

    6.2. Consents
      and Approvals.
      CFWH
      shall use commercially reasonable efforts to obtain all Consents required to
      be
      obtained by CFWH in connection with the execution, delivery and performance
      by
      CFWH of this Agreement and the Transaction Documents.

     

    6.3. Further
      Assurances.
      Upon
      the request and at the sole expense of Med-Air at any time on or after the
      Closing Date, CFWH shall execute and deliver such documents, and take such
      actions, as Med-Air or its counsel may reasonably request, to effectuate the
      purposes of this Agreement.

     

    6.4. Notices.
      CFWH
      shall provide Med-Air with prompt written notice of CFWH’s Knowledge of (i) any
      breach of any representation or warranty by Med-Air or (ii) any other material
      failure by Med-Air to comply with the obligations of this
      Agreement.

     

    6.5. Non-Solicitation.
      CFWH shall not, directly or indirectly (through Related Persons or otherwise)
      for a period of thirty-six (36) months following the Closing Date: (a)
do
      business with or undertake
      any
      efforts to open or otherwise establish, or negotiate to open or otherwise
      establish, any Center in the Med-Air Center Portfolio, and (b) do business
      with
      or undertake any efforts to solicit for employment, or to employ (whether as
      an
      employee, consultant, independent contractor or otherwise), for CFWH or any
      of
      its respective Related Persons or any hospital or medical facility, any Person:
      (i) employed by the Med-Air Parties or (ii) who renders service to any Center
      in
      the Med-Air Center Portfolio.

     

    6.6. Non-disparagement.
      CFWH will not directly or indirectly disparage any of the Med-Air Parties (or
      their respective agents or employees), or make or solicit any comments,
      statements, or the like to any Person or entity that may be considered
      derogatory or detrimental to the good name or business reputation of the Med-Air
      Parties. Nothing herein shall be deemed to constrain CFWH’s cooperation in any
      governmental action. 

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      7

    COVENANTS
      OF MED-AIR PARTIES

     

    The
      Med-Air Parties hereby covenant to CFWH as follows:

     

    7.1. Actions
      Before Closing Date.
      The
      Med-Air Parties shall use commercially reasonable efforts to perform and satisfy
      all conditions to either Party’s obligations to consummate the transactions
      contemplated by this Agreement that are to be performed or satisfied by the
      Med-Air Parties under this Agreement.

     

    7.2. Consents
      and Approvals.
      The
      Med-Air Parties shall use commercially reasonable efforts to obtain all Consents
      required to be obtained by the Med-Air Parties in connection with the execution,
      delivery and performance by the Med-Air Parties of this Agreement and the
      Transaction Documents.

     

    7.3. Further
      Assurances.
      Upon
      the request and at the sole expense of CFWH at any time on or after the Closing
      Date, the Med-Air Parties shall execute and deliver such documents, and take
      such actions, as CFWH or its counsel may reasonably request, to effectuate
      the
      purposes of this Agreement.

     

    7.4. Notices.
      Med-Air
      shall provide CFWH with prompt written notice of Med-Air’s Knowledge of (i) any
      breach of any representation or warranty by CFWH or (ii) any other material
      failure by CFWH to comply with the obligations of this Agreement.

     

    7.5. Option
      to Purchase Far Rockaway Chambers.
      Med-Air
      covenants and agrees that Far Rockaway LLC shall have the option to purchase
      the
      Far Rockaway Chambers from Med-Air, free and clear of all Liens and
      Encumbrances, for a purchase price of $9,950.00 for all
      of such
      chambers. This purchase option may only be exercised within the thirty (30)
      day
      period after the expiration of the term of each of the leases relating to the
      Far Rockaway Chambers and only so long as no payment default exists under such
      leases. The purchase option shall be deemed exercised on the day Med-Air
      receives payment of the purchase price
      together
      with a schedule listing each of the chambers which are to be purchased and
      a
      written statement from the Person exercising the purchase option setting forth
      that such Person holds the purchase option and identifies which of the chambers
      such Person wishes to Purchase. Within ten (10) Business Days after the exercise
      of the purchase option, Med-Air shall deliver a bill of sale relating to the
      chambers purchased and such other documents as purchaser may reasonably require.
      Far Rockaway LLC shall have the right to assign said purchase option to an
      Affiliate or any other Person and, if so assigned, Far Rockaway LLC shall
      promptly notify Med-Air of such assignment.

     

    7.6. Non-Solicitation.
      The
      Med-Air Parties shall not, directly or indirectly (through Related Persons,
      family members or otherwise) for a period of thirty-six (36) months following
      the Closing Date: (a) do business with or undertake any efforts to open or
      otherwise establish, or negotiate to open or otherwise establish, any Center
      in
      the CFWH Center Portfolio, and (b) do business with or undertake any efforts
      to
      solicit for employment, or to employ (whether as an employee, consultant,
      independent contractor or otherwise), for the Med-Air Parties or any of their
      respective Related Persons or any hospital or medical facility, any Person:
      (i)
      employed by CFWH or (ii) who renders service to any Center in the CFWH Center
      Portfolio. 

     

    7.7. Non-Disparagement.
      The
      Med-Air Parties will not directly or indirectly disparage CFWH (or its
      respective agents or employees), or make or solicit any comments, statements,
      or
      the like to any Person or entity that may be considered derogatory or
      detrimental to the good name or business reputation of CFWH. Nothing herein
      shall be deemed to constrain Med-Air’s cooperation in any Board authorized
      investigation or governmental action. 

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    7.8. Prohibited
      Enterprise. The Med-Air Parties agree that on and after the Closing Date,
      none of them shall, directly or indirectly, engage, acquire or negotiate to
      acquire an economic or other interest in any Prohibited Enterprise, without
      first obtaining CFWH’s express written consent. 

     

    7.9. Names.
      The Med-Air Parties covenant that they shall promptly (a) cause the name of
      their Affiliate, “The Center For Wound Healing of NY/NJ, Inc.” to be changed to
      a name, approved by CFWH; provided, however, that CFWH’s approval
      shall not be unreasonably withheld; (b) not conduct any business (including,
      without limitation, marketing or promotional activities, under the name “The
      Center For Wound Healing of NY/NJ, Inc.” except that they shall be permitted to
      continue to use such name for banking, tax and payroll purposes, so long as
      such
      activity does not create any confusion of identity in the marketplace between
      such entity and CFWH and its Affiliates; (c) promptly change the checks (other
      than payroll checks), use commercially reasonable efforts to change contracts
      (including any hospital contracts and agreements) entered into on or after
      March
      26, 2007 and all other business forms to reflect the change of name of “The
      Center For Wound Healing of NY/NJ, Inc.” referenced in clause (a) above; and (d)
      as may be requested by CFWH, participate with CFWH in meeting (at no expense
      to
      the Med-Air Parties) with hospitals (including, without limitation,
      Cabell-Huntington Hospital) and CFWH’s other business partners to clear up any
      confusion in the marketplace. Notwithstanding the foregoing, Med-Air shall
      be
      allowed to use the name “Center For Wound Healing and Hyperbaric Medicine”
and/or a derivative thereof and by execution of this Agreement, CFWH consents
      to
      the use of such name. 

     

    ARTICLE
      8

    
      SIX
        CHAMBERS

    

     

    8.1. Usage.
      Med-Air
      shall permit CFWH or any of CFWH’s Affiliates to have the exclusive use of the
      Six Chambers at one or more locations at which CFWH or its Affiliates operate
      the Business for the period commencing on the Closing Date and ending on the
      earlier of (a) the thirtieth (30) day after all of CFWH’s obligations under the
      Med-Air Note have been satisfied; and (b) June 30, 2010 (the “Usage
      Period”).
      At
      the end of the Usage Period, if the Purchase Option has not been exercised
      as to
      any of the Six Chambers, Med-Air shall promptly (at its own cost and expense)
      remove any of the Six Chambers as to which the Purchase Option was not
      exercised. CFWH shall co-operate with Med-Air as may be reasonably required
      to
      allow Med-Air access to those locations where the Six Chambers may be
      located.

     

    8.2. No
      Charge for Use.
      Neither
      CFWH nor any of its Affiliates shall be obligated to pay any rent, fees or
      other
      charges for their respective usage of the Six Chambers during the Usage
      Period.

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    8.3. Ownership.
      Med-Air
      shall continue to own and hold title to the Six Chambers free and clear of
      all
      Liens and Encumbrances until such time as CFWH or one of its Affiliates
      exercises the Purchase Option. Until the Purchase Option is exercised, neither
      CFWH nor any of its Affiliates shall sell, exchange, assign, loan, lease,
      mortgage or otherwise dispose of any of the Six Chambers. During the Usage
      Period, CFWH shall keep the Six Chambers insured against loss by fire (including
      extended coverage), theft, damage and other casualty and shall also maintain
      liability insurance covering the operations of the Six Chambers, in such amounts
      and on such terms as CFWH has previously insured the Six Chambers, with Med-Air
      named as an additional insured. CFWH shall maintain the Six Chambers in
      accordance with the standard of care in the industry at CFWH’s sole expense. Any
      security interests Med-Air has in the Six Chambers and any rights Med-Air has
      as
      a secured creditor with respect to the Six Chambers, whether granted under
      any
      of the Operating Agreements or otherwise, shall continue in full force and
      effect. 

     

    8.4. Purchase
      Option.
      Med-Air
      hereby grants to CFWH the option to purchase each of the Six Chambers for $1.00
      each. CFWH shall have the right to assign said purchase option to an Affiliate
      or any other Person and, if so assigned, CFWH shall promptly notify Med-Air
      of
      such assignment. The Purchase Option may only be exercised within the thirty
      (30) day period after all of CFWH’s obligations under the Med-Air Note have been
      satisfied and only so long as there is no Event of Default existing under the
      Med-Air Note. The purchase option shall be deemed exercised on the day Med-Air
      receives payment of the purchase price ($1.00 for each of the Six Chambers
      as to
      which the purchase option is exercised; $6.00 if the purchase option is
      exercised for all Six Chambers) together with a schedule listing each of the
      Six
      Chambers which are to be purchased and a written statement from the Person
      exercising the Purchase Option setting forth that such Person holds the purchase
      option and identifies which of the Six Chambers such Person wishes to Purchase.
      Within ten (10) Business Days after the exercise of the Purchase Option, Med-Air
      shall deliver a bill of sale relating to the chambers purchased and such other
      documents as purchaser may reasonably require.

     

    8.5. Removal
      of Chambers.
      CFWH
      shall have the right to move one or more of the Six Chambers without obtaining
      permission from Med-Air to do so; provided,
      however,
      that if
      any of the Six Chambers are removed from their current locations, CFWH agrees
      that it shall notify Med-Air, in writing prior to the removal date, of their
      removal and their new location.

     

    8.6. Maintenance
      and Service.
      It
      shall be the sole responsibility of CFWH to maintain, operate, insure and
      service the Six Chambers, all in conformity with applicable manufacturer’s,
      hospital, Governmental and regulatory rules, regulations, guidelines and
      standards. Nothing herein contained shall obligate CFWH or any of its Affiliates
      to replace any of the Six Chambers should they become inoperable.

     

    ARTICLE
      9

    RELEASES

     

    9.1. Far
      Rockaway Note.
      Notwithstanding any provision of this Agreement to the contrary, CFWH shall
      remain liable to pay the Far Rockaway Note when due, in accordance with the
      terms thereof.

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    9.2. General
      Release.
      EFFECTIVE AS OF THE CLOSING DATE, (I) THE CFWH GROUP HEREBY FULLY AND FINALLY
      WAIVES, RELEASES, ACQUITS AND FOREVER DISCHARGES EACH MEMBER OF THE MED-AIR
      GROUP, AND (II) THE MED-AIR GROUP HEREBY FULLY AND FINALLY WAIVES, RELEASES,
      ACQUITS AND FOREVER DISCHARGES EACH MEMBER OF THE CFWH GROUP FROM ANY AND ALL
      CAUSES OF ACTION, CLAIMS, COUNTERCLAIMS, SUITS, ATTORNEYS’ FEES, COSTS,
      CONTROVERSIES, DEMANDS AND OTHER OBLIGATIONS AND LIABILITIES OF ANY KIND,
      WHETHER IN LAW OR EQUITY, AND WHETHER KNOWN OR UNKNOWN, THAT SUCH RELEASING
      PARTY HAD OR NOW HAS, AND ANY KIND THAT WAS OR MIGHT HAVE BEEN ALLEGED BY ANY
      SUCH RELEASING PARTY, IN CONNECTION WITH, ARISING OUT OF OR RELATING TO THE
      MED-AIR CONTRACTS (EXCEPT TO THE EXTENT ARISING OUT OF OR RELATING TO THE FAR
      ROCKAWAY CONTRACTS) (IN EACH CASE, IN RESPECT OF THE PERIOD PRIOR TO, ON OR
      AFTER THE EFFECTIVE DATE), NOTWITHSTANDING THE FAULT, STRICT LIABILITY, BREACH
      OF CONTRACT OR NEGLIGENCE, WHETHER SOLE, JOINT OR CONCURRENT OR ACTIVE OR
      PASSIVE, OF THE PERSON RELEASED BY THIS PARAGRAPH 9.2 OR WHETHER ASSERTED IN
      CONTRACT, IN WARRANTY, IN TORT, BY STATUTE OR OTHERWISE; PROVIDED,
      HOWEVER,
      THAT
      (A) THIS PARAGRAPH 9.2 SHALL NOT APPLY TO ANY CLAIM BY (1) MED-AIR FOR BREACH
      OF
      THIS AGREEMENT OR THE MED-AIR NOTE BY CFWH OR (2) CFWH OR ANY OF ITS AFFILIATES
      AGAINST ANY OF THE MED-AIR PARTIES OR THEIR AFFILIATES RELATING TO THE
      OPERATION, MANAGEMENT, OWNERSHIP, OR ACQUISITION OF ANY HYPERBARIC OR WOUND
      CARE
      CENTER ON OR PRIOR TO THE DATE HEREOF WHICH IS NOT LISTED ON SCHEDULE 5.6 OR
      (3)
      CFWH FOR BREACH OF THIS AGREEMENT BY ANY OF THE MED-AIR PARTIES; (B) IF THE
      MED-AIR NOTE IS NOT PAID IN ACCORDANCE WITH ITS TERMS (SUBJECT TO ANY APPLICABLE
      CURE PERIOD) DURING THE TWELVE (12) MONTH PERIOD FOLLOWING THE CLOSING DATE,
      THIS PARAGRAPH 9.2 SHALL BE DEEMED NULL AND VOID AB
      INITIO
      WITH
      RESPECT TO THE RELEASE GRANTED IN THIS PARAGRAPH 9.2 BY THE MED-AIR GROUP ONLY
      AND SHALL HAVE NO FURTHER FORCE OR EFFECT WITH RESPECT TO THE RELEASE GRANTED
      IN
      THIS PARAGRAPH 9.2 BY THE MED-AIR GROUP; (C) NOTWITHSTANDING ANYTHING IN THIS
      AGREEMENT OR THIS PARAGRAPH 9.2 TO THE CONTRARY, IN THE EVENT THAT THE RELEASE
      GRANTED BY THE MED-AIR GROUP IS DEEMED NULL AND VOID AND OF NO FURTHER FORCE
      OR
      EFFECT PURSUANT TO THE IMMEDIATELY PRECEEDING CLAUSE OR OTHERWISE, EACH MEMBER
      OF THE CFWH GROUP SHALL BE ENTITLED TO RAISE AND ASSERT ANY AND ALL
      COUNTERCLAIMS, SETOFFS AND DEFENSES IT MAY HAVE (AS IF NO RELEASE BY THE CFWH
      GROUP HAD BEEN GRANTED HEREUNDER) IN CONNECTION WITH ANY CLAIM, ACTION OR SUIT
      ASSERTED OR BROUGHT BY ANY MEMBER OF THE MED-AIR GROUP; (D) NOTWITHSTANDING
      ANYTHING IN THIS AGREEMENT TO THE CONTRARY, IF ANY MEMBER OF THE MED-AIR GROUP
      ASSERTS OR BRINGS ANY CLAIM, ACTION OR SUIT SOLELY BASED UPON CFWH’S FAILURE TO
      PAY THE MED-AIR NOTE WHEN DUE, NO MEMBER OF THE CFWH GROUP SHALL BE ENTITLED
      TO
      RAISE OR ASSERT ANY COUNTERCLAIM, SETOFF OR DEFENSE OTHER THAN A DEFENSE OF
      ACTUAL PAYMENT OR RIGHT TO CURE; AND (E) NOTWITHSTANDING ANYTHING TO THE
      CONTRARY IN THIS AGREEMENT, IN NO EVENT SHALL THE TRANSFER OF ANY MEMBERSHIP
      INTEREST HEREUNDER BE SUBJECT TO REVERSAL.

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    9.3. Rights
      as a Member. Med-Air, in its capacity as a member of each of the Med-Air
      Transferred LLCs, and CFWH, in its capacity as a member of Southampton LLC,
      hereby waive and relinquish, as of the Closing Date, all of their respective
      rights, benefits and other entitlements (including, without limitation, profits,
      distributions, capital accounts, and tax benefits), whether or not accrued
      as of
      the Closing Date, under the applicable operating agreements relating to such
      limited liability companies or otherwise under applicable Law. 

     

    9.4. Med-Air’s
      Rights to the Med-Air Wilkes-Barre Interests. The Med-Air Parties hereby (a)
      sell, assign, transfer, and set over to CFWH, as of the Closing Date, all of
      their rights, title, and interest in and to the Med-Air Wilkes-Barre Interests,
      together with all rights, profits, revenues, benefits and privileges belonging
      or pertaining thereto or enjoyed in connection therewith, (b) waive and
      relinquish, as of the Closing Date, all of their respective rights, benefits
      and
      other entitlements (including, without limitation, profits and revenues) in
      and
      under the Med-Air Wilkes-Barre Interests, and (c) release, acquit and forever
      discharge each member of the CFWH Group from any claims, causes of action and
      counterclaims of any kind, whether arising in law or equity, and whether known
      or unknown, arising out of or related to the Med-Air Wilkes-Barre Interests.
      

     

    ARTICLE
      10

    TAXES

     

    10.1. Taxes
      Related to Purchase of Membership Interests.
      All
      state and local sales, use, gross-receipts, transfer, excise, value-added or
      other similar Taxes on the transfer of the Membership Interests and (ii) other
      Taxes based on or measured by income or revenues), and all recording and filing
      fees that may be imposed by reason of the sale, transfer, assignment and
      delivery of the Membership Interests (collectively, “Transaction
      Taxes”),
      shall
      be paid by the transferee on or prior to their due date.

     

    10.2. Cooperation
      on Tax Matters.
      CFWH
      and Med-Air shall (and shall cause their respective Affiliates to) cooperate
      fully with each other and make available or cause to be made available to each
      other for consultation, inspection and copying (at such other party’s expense)
      in a timely fashion such personnel, Tax data, relevant Tax Returns or portions
      thereof and filings, files, books, records, documents, financial, technical
      and
      operating data, computer records and other information as may be reasonably
      required (a) for the preparation by such other party of any Tax Returns or
      (b)
      in connection with any Tax audit or proceeding including one party (or an
      Affiliate thereof) to the extent such Tax audit or proceeding relates to or
      arises from the transactions contemplated by this Agreement.

     

    10.3. Retention
      of Tax Records.
      After
      the Closing Date and until 4 years after the Closing Date, Med-Air and CFWH
      shall retain possession of all accounting, business, financial and Tax records
      and information in their possession that (a) relate to the Membership Interests
      and are in existence on the Closing Date and (b) come into existence after
      the
      Closing Date but relate to the Membership Interests before the Closing Date.
      In
      addition, from and after the Closing Date, the Parties shall provide to each
      other (after reasonable notice. and during normal business hours and without
      charge) access to the books, records, documents and other information relating
      to the Membership Interests may reasonably be necessary to (i) properly prepare
      for, file, prove, answer, prosecute and defend any Tax Return, claim, filing,
      tax audit, tax protest, suit, proceeding or answer. Such access shall include
      access to any computerized data regarding the Membership Interests (to the
      extent relating to the period before the Closing Date).

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    10.4. Unbilled
      Transactional Taxes.
      If a
      Tax assessment is levied upon any Party by an authorized tax jurisdiction for
      unbilled Transaction Taxes that are the obligation of the other Party under
      this
      Agreement, then the non-assessed Party shall reimburse the assessed Party for
      those taxes including any interest and penalty.

     

    ARTICLE
      11

    RIGHT
      OF FIRST REFUSAL

     

    11.1. If
      Med-Air or any of its Affiliates receives a bona fide offer (an “Offer”)
      from a
      non-Affiliate (a “Third
      Party”)
      for
      the purchase of (a) all or any portion of such entity’s interest in (i) any
      entity that owns or operates a Center or (ii) any contract to develop, construct
      or operate, or otherwise advise in the development, construction, or operation
      of a Center or (b) all or substantially all of the assets of (i) Med-Air or
      (ii)
      a Subsidiary of Med-Air (a “Med-Air
      Transaction”)
      and
      Med Air is willing to accept such Offer, Med-Air, before it accepts such Offer,
      shall first provide CFWH with the opportunity to consummate the Med-Air
      Transaction on the same terms and conditions as are set forth in the Offer.
      Med-Air shall communicate the Offer to CFWH by written notice (the “Notice”)
      with a
      written copy of the terms of the Med-Air Transaction that Med-Air received
      from
      the Third Party. If CFWH wishes to consummate the Med-Air Transaction on such
      terms and conditions, CFWH shall provide written notice to Med-Air within twenty
      (20) days of CFWH’s receipt of the Notice if the Offer is for $1,000,000 or less
      and within forty-five (45) days of CFWH’s receipt of the Notice if the Offer is
      for more than $1,000,000 (the “Acceptance
      Deadline”);
      provided, however, that CFWH shall be entitled to conduct due
      diligence with respect to a Med-Air Transaction for at least as long as a Third
      Party was entitled to conduct due diligence with respect thereto. In the event
      that CFWH declines by written notice to Med-Air to consummate the Transaction
      on
      such terms and conditions or otherwise fails to respond to the Notice prior
      to
      the Acceptance Deadline, Med-Air shall be entitled to consummate the Transaction
      with the Third Party on the terms and conditions set forth in the Offer.
      Following CFWH’s receipt of a Notice, Med-Air shall timely comply with all
      reasonable due diligence requests made by CFWH. 

     

    ARTICLE
      12

    CONDITIONS
      PRECEDENT TO PERFORMANCE BY PARTIES

     

    12.1. Conditions
      Precedent to Performance by the Parties.
      The
      respective obligations of CFWH and the Med-Air Parties to consummate the
      transactions contemplated by this Agreement are subject to the satisfaction,
      on
      or prior to the Closing Date, of the condition that no preliminary or permanent
      injunction or other Order that declares this Agreement invalid or unenforceable
      in any respect or that prevents the consummation of the transactions
      contemplated hereby or thereby shall be in effect.

     

    12.2. Conditions
      Precedent to Performance by CFWH.
      The
      obligations of CFWH to consummate the transactions contemplated by this
      Agreement are subject to the satisfaction, on or before the Closing Date, of
      the
      following conditions, any one or more of which may be waived by CFWH in its
      sole
      discretion:

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    (a) Representations
      and Warranties of the Med-Air Parties.
      All
      representations and warranties made by the Med-Air Parties in this Agreement
      shall be true and correct in all material respects on and as of the Closing
      Date
      as if again made by Med-Air on and as of such date (or, if made as of a specific
      date, at and as of such date), and CFWH shall have received a certificate dated
      the Closing Date and signed by Richer and Macher to that effect.

     

    (b) Performance
      of the Obligations of the Med-Air Parties.
      The
      Med-Air Parties shall have performed in all material respects all obligations
      required under this Agreement to be performed by it on or before the Closing
      Date (which obligations shall be performed in all respects as required under
      this Agreement), and CFWH shall have received a certificate dated the Closing
      Date and signed by Richer and Macher to that effect.

     

    (c) Med-Air’s
      Deliveries.
      Med-Air
      shall have delivered, and CFWH shall have received, (i) all of the items as
      set
      forth in Section 3.3 and (ii) the Disclosure Schedules.

     

    (d) Material
      Adverse Effect.
      No
      Material Adverse Effect shall have occurred and be continuing.

     

    12.3. Conditions
      Precedent to the Performance by Med-Air.
      The
      obligations of the Med-Air Parties to consummate the transactions contemplated
      by this Agreement are subject to the satisfaction, on or before the Closing
      Date, of the following conditions, any one or more of which may be waived by
      Med-Air in its sole discretion:

     

    (a) Representations
      and Warranties of CFWH.
      All
      representations and warranties made by CFWH in this Agreement shall be true
      and
      correct in all material respects on and as of the Closing Date as if again
      made
      by CFWH on and as of such date (or, if made as of a specific date, at and as
      of
      such date), and Med-Air shall have received a certificate dated the Closing
      Date
      and signed by the Chief Executive Officer of CFWH to that effect.

     

    (b) Performance
      of the Obligations of CFWH.
      CFWH
      shall have performed in all material respects all obligations required under
      this Agreement to be performed by it on or before the Closing Date (which
      obligations shall be performed in all respects as required under this Agreement)
      and Med-Air shall have received a certificate dated the Closing Date and signed
      by the Chief Executive Officer of CFWH to that effect.

     

    (c) CFWH’s
      Deliveries.
      CFWH
      shall have delivered, and the Med-Air Parties shall have received, all of the
      items as set forth in Section 3.2.

     

    (d) Material
      Adverse Effect.
      No
      Material Adverse Effect shall have occurred and be continuing.

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      13

    TERMINATION

     

    13.1. Effect
      of Failure of CFWH’s Conditions to Closing.
      CFWH
      may terminate this Agreement at any time before Closing if any condition
      contained in Section 12.2, except for those obligations to be performed at
      Closing, which are not capable of satisfaction until Closing, is not satisfied
      or waived by CFWH as of such time; provided, however, that CFWH shall not have
      the right to terminate this Agreement under this Section 13.1 if CFWH’s failure
      to fulfill any of its obligations under this Agreement is the reason that the
      relevant condition is not satisfied as of such date.

     

    13.2. Effect
      of Failure of Med-Air’s Conditions to Closing.
      Med-Air
      may terminate this Agreement at any time before Closing if any condition
      contained in Section 12.3 is not satisfied or waived as of such time, except
      for
      those obligations to be performed at Closing, which are not capable of
      satisfaction until Closing; provided, however, that Med-Air shall not have
      the
      right to terminate this Agreement under this Section 13.2 if Med-Air failure
      to
      fulfill any of its obligations under this Agreement is the reason that the
      relevant condition is not satisfied as of such date.

     

    ARTICLE
      14

    MISCELLANEOUS

     

    14.1. Successors
      and Assigns.
      Except
      as otherwise provided in this Agreement or the Med-Air Note, no Party hereto
      shall assign this Agreement or any rights or obligations hereunder without
      the
      prior written consent of the other Parties hereto (which consent shall not
      be
      unreasonably withheld), and any such attempted assignment without such prior
      written consent shall be void and of no force and effect. This Agreement shall
      inure to the benefit of and shall be binding upon the successors and permitted
      assigns of the Parties hereto.

     

    14.2. Governing
      Law; Jurisdiction.
      This
      Agreement shall be construed, performed and enforced in accordance with, and
      governed by, the Laws of the State of New York (without giving effect to the
      principles of conflicts of Laws thereof). Any legal action or proceeding with
      respect to this Agreement or the transactions contemplated hereby may be brought
      in the courts of the State of New York sitting in Manhattan or of the United
      States for the Southern District of New York, and by execution and delivery
      of
      this Agreement, each of the Parties consents to the nonexclusive jurisdiction
      of
      those courts. Each of the Parties irrevocably waives any objection, including
      any objection to the laying of venue or based on the grounds of forum non
      conveniens, which it may now or hereafter have to the bringing of any action
      or
      proceeding in such jurisdiction in respect of this Agreement or the transactions
      contemplated hereby.

     

    14.3. Warranties
      Exclusive.
      The
      representations and warranties contained herein and in the Transaction Documents
      are the only representations or warranties given by the Parties and all other
      express or implied warranties are disclaimed. Without limiting the foregoing,
      the Parties acknowledge that, except for the representations and warranties
      contained herein and in the Transaction Documents, the Membership Interests
      are
      conveyed “AS IS,” “WHERE IS” and “WITH ALL FAULTS” and that, except for the
      representations and warranties contained herein and in the Transaction
      Documents, all warranties of merchantability, usage or suitability or fitness
      for a particular purpose are disclaimed. Without limiting the foregoing, the
      Parties further acknowledge that, except for and limited to the specific
      representations and warranties contained herein and in the Transaction
      Documents, no material or information provided by or communications made by
      the
      parties or their respective agents will create any representation or warranty
      of
      any kind, whether express or implied, with respect to the Membership Interests
      and the title thereto, the operation of the Business, or the prospects
      (financial and otherwise), risks and other incidents of the
      Business.

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    14.4. Survival
      of Representations, Warranties and Covenants.
      If this
      Agreement is terminated for any reason between the Effective Date and the
      Closing Date, none of the representations, warranties, or covenants contained
      herein shall survive the date of termination. If the Closing shall take place,
      (a) all representations and warranties contained herein shall survive the
      Closing Date and shall expire on the fifth (5th) anniversary of the Closing
      Date, other than the representations and warranties set forth in Sections 5.1,
      5.2, 5.3 and 5.4 of this Agreement, which shall expire on the first (1st)
      anniversary of the Closing Date, and (b) all covenants contained herein shall
      survive the Closing Date. 

     

    14.5. Mutual
      Drafting.
      This
      Agreement is the result of the joint efforts of Med-Air and CFWH, and each
      provision hereof has been subject to the mutual consultation, negotiation and
      agreement of the parties and there is to be no construction against either
      party
      based on any presumption of that party’s involvement in the drafting
      thereof.

     

    14.6. Expenses.
      Except
      as otherwise provided herein, each of the Parties hereto shall pay its own
      expenses in connection with this Agreement and the transactions contemplated
      hereby, including any legal and accounting fees, whether or not the transactions
      contemplated hereby are consummated.

     

    14.7. Severability.
      In the
      event that any part of this Agreement is declared by any court or other judicial
      or administrative body to be null, void or unenforceable, said provision shall
      survive to the extent it is not so declared, and all of the other provisions
      of
      this Agreement shall remain in full force and effect only if, after excluding
      the portion deemed to be unenforceable, the remaining terms shall provide for
      the consummation of the transactions contemplated hereby in substantially the
      same manner as originally set forth at the later of the date this Agreement
      was
      executed or last amended.

     

    14.8. Notices.
      All
      notices, requests, demands and other communications under this Agreement shall
      be in writing and shall be deemed to have been duly given: (a) on the date
      of
      service if served personally on the party to whom notice is to be given; (b)
      on
      the day of transmission if sent via facsimile transmission to the facsimile
      number given below and confirmation of successful transmission is obtained
      (for
      this purpose, an activity report of the sender’s facsimile machine showing the
      confirmation of successful transmission is sufficient); (c) on the day after
      delivery to Federal Express or similar overnight courier or the Express Mail
      service maintained by the United States Postal Service or (d) on the fifth
      (5th)
      day after mailing, if mailed to the party to whom notice is to be given, by
      first class mail, registered or certified, postage prepaid and properly
      addressed, to the party as follows:

     

    If
      to
      Med-Air:

     

    Med-Air
      Consultants, Inc.

    3
      Crossways Park West

    Woodbury,
      NY 11797

    Attention:
      Joel Macher

    Facsimile:
      ______________

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    Copy
      to:

     

    Moritt
      Hock Hamroff & Horowitz LLP

    400
      Garden City Plaza

    Garden
      City, NY 11530

    Attention:
      Dennis O'Rourke, Esq.

    Facsimile:
      (516) 873-2010

     

    If
      to
      CFWH:

     

    The
      Center for Wound Healing, Inc.

    517
      Route
      1 South, 

    Iselin,
      New Jersey 08830

    Attention:
      Chief Executive Officer

     

    Copy
      to:

     

    King
      & Spalding LLP

    1185
      Avenue of the Americas

    New
      York,
      NY 10036

    Attention:
      Barry N. Seidel

    Facsimile:
      (212) 556-2222

     

    If
      to
      Alan Richer:

     

    Alan
      Richer

    30
      West
      Overlook

    Port
      Washington, NY 11050

     

    Copy
      to:

     

    Moritt
      Hock Hamroff & Horowitz LLP

    400
      Garden City Plaza

    Garden
      City, NY 11530

    Attention:
      Dennis O'Rourke, Esq.

    Facsimile:
      (516) 873-2010

     

    If
      to
      Joel Macher:

     

    Joel
      Macher

    25
      Artisan Avenue

    Huntington,
      NY 11743

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    Copy
      to:

     

    Moritt
      Hock Hamroff & Horowitz LLP

    400
      Garden City Plaza

    Garden
      City, NY 11530

    Attention:
      Dennis O'Rourke, Esq.

    Facsimile:
      (516) 873-2010

     

    Any
      Party
      may change its address for the purpose of this Section 14.8 by giving the other
      party written notice of its new address in the manner set forth
      above.

     

    14.9. Amendments;
      Waivers.
      This
      Agreement may be amended or modified, and any of the terms, covenants,
      representations, warranties or conditions hereof may be waived, only by a
      written instrument executed by the parties hereto, or in the case of a waiver,
      by the party waiving compliance. Any waiver by any party of any condition,
      or of
      the breach of any provision, term, covenant, representation or warranty
      contained in this Agreement, in any one or more instances, shall not be deemed
      to be nor construed as a furthering or continuing waiver of any such condition,
      or of the breach of any other provision, term, covenant, representation or
      warranty of this Agreement.

     

    14.10. Schedules.
      The
      Parties may, at their option, include in the Disclosure Schedules items that
      are
      not material, and any such inclusion, or any references to dollar amounts,
      shall
      not be deemed to be an acknowledgment or representation that such items are
      material or would cause a Material Adverse Effect, to establish any standard
      of
      materiality or to define further the meaning of such terms for purposes of
      this
      Agreement. Information disclosed in the Disclosure Schedules shall constitute
      a
      disclosure for all purposes of the Section for which such disclosure was made
      and each other section for which such disclosure is readily
      apparent.

     

    14.11. Public
      Announcements.
      No
      Party shall make any press release or public announcement concerning the
      transactions contemplated by this Agreement without the prior written approval
      of the other Parties, unless a press release or public announcement is required
      by Law. If any such announcement or other disclosure is required by Law, the
      disclosing party shall give the nondisclosing Party or Parties prior notice
      of,
      and an opportunity to comment on, the proposed disclosure.

     

    14.12. Entire
      Settlement Agreement.
      This
      Agreement and the Transaction Documents contain the entire understanding among
      the Parties hereto with respect to the transactions contemplated hereby and
      supersede and replace all prior and contemporaneous agreements and
      understandings, oral or written, with regard to such transactions. All
      Disclosure Schedules and Exhibits hereto and any documents and instruments
      delivered pursuant to any provision hereof are expressly made a part of this
      Agreement as fully as though completely set forth herein.

     

    14.13. Parties
      in Interest.
      Nothing
      in this Agreement is intended to confer any rights or remedies under or by
      reason of this Agreement on any Persons other than CFWH and the Med-Air Parties
      and their respective successors and permitted assigns, except the rights of
      the
      Med-Air Entities and CFWH Entities (as applicable) to the releases and the
      waivers, allocations and disclaimers of, and limitations on, liability or
      remedies set forth in this Agreement. Nothing in this Agreement is intended
      to
      relieve or discharge the obligations or liability of any third Persons to CFWH
      or the Med-Air Parties. No provision of this Agreement shall give any third
      Persons any right of subrogation or action over or against CFWH or the Med-Air
      Parties.

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

    14.14. Headings.
      The
      article and section headings in this Agreement are for reference purposes only
      and shall not affect the meaning or interpretation of this
      Agreement.

     

    14.15. Construction.
      Unless
      the context of this Agreement otherwise requires, (i) words of any gender
      include the other gender, (ii) words using the singular or plural number also
      include the plural or singular number, respectively, (iii) the terms “hereof,”
“herein,” “hereby,” and derivative or similar words refer to this entire
      Agreement as a whole and not to any other particular Article, Section or other
      subdivision, (iv) the words “include,” “includes” and “including” shall be
      deemed to be followed by the phrase “without limitation,” (v) “shall,” “will,”
or “agrees” are mandatory, and “may” is permissive, and (vi) “or” is not
      exclusive.

     

    14.16. Currency.
      Except
      where otherwise expressly provided, all amounts in this Agreement are stated
      and
      shall be paid in United States currency.

     

    14.17. Time
      of Essence.
      Time is
      of the essence in this Agreement.

     

    14.18. Counterparts.
      This
      Agreement may be executed in counterparts, each of which shall be deemed an
      original, but all of which shall constitute the same agreement. The delivery
      of
      an executed counterpart of this Agreement by facsimile or pdf shall be deemed
      to
      be valid delivery thereof. It shall be sufficient in making proof of this
      Agreement to produce or account for a facsimile or pdf copy of an executed
      counterpart of this Agreement.

     

    ARTICLE
      15

    DEFINITIONS

     

    15.1. Certain
      Terms Defined.
      As used
      in this Agreement, the following terms shall have the following
      meanings:

     

    “1933
      Act”
means
      the Securities Act of 1933, as amended, and the rules and regulations
      promulgated thereunder. 

     

    “1934
      Act”
means
      the Exchange Act of 1934, as amended, and the rules and regulations promulgated
      thereunder.

     

    “Affiliate”
means,
      with respect to any Person, any other Person directly or indirectly controlling,
      controlled by or under direct or indirect common control with such first Person
      where “control”
means
      the possession, directly or indirectly, of the power to direct or cause the
      direction of the management policies of a Person, through the ownership of
      voting securities, by contract, as trustee, executor or otherwise.

     

    “Business”
means
      the business of operating a hyperbaric chamber and/or wound care center and
      providing services incidental to the foregoing.

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

    “Business
      Day”
means
      any day other than Saturday, Sunday and any day that is a legal holiday or
      a day
      on which banking institutions in New York, New York are authorized by Law or
      other Governmental action to close.

     

    “Center”
means
      premises where the Business is conducted. 

     

    “CFWH
      Center Portfolio”
means
      each of the Centers listed on Schedule 7.7 attached hereto.

     

    “CFWH
      Group”
means
      CFWH and its respective Related Persons. 

     

    “Clara
      Maass Chambers”
means
      the two (2) hyperbaric chambers used by New York Hyperbaric in connection with
      the operation of the Business at the Clara Maass Hospital which have been leased
      from Med-Air.

     

    “Code”
means
      the Internal Revenue Code of 1986, as amended.

     

    “Consent”
means
      any consent, approval, authorization, qualification, waiver or notification
      of a
      Government or other Person, but not including (a) with respect to CFWH, CFWH’s
      Board of Directors or any shareholders of CFWH, or (b) with respect to Med-Air,
      Med-Air’s Board of Directors or any shareholders of Med-Air.

     

    “Contract”
means
      any written or oral contract, agreement, license, sublicense, lease, sublease,
      mortgage, instruments, guaranties, commitment, undertaking or other similar
      binding arrangement, whether express or implied.

     

    “Disclosure
      Schedules”
means
      the disclosure schedules attached hereto.

     

    “Disqualified
      Person”
means
      any Person who is or was (a) an officer or director of CFWH; (b) an employee
      of
      CFWH; (c) a consultant to CFWH who CFWH paid at least $10,000 on an annualized
      basis. Without limiting the foregoing definition, “Disqualified Person” shall
      include, without limitation, Tom Boyer, Elise Greenberg, Keith Greenberg, Rich
      Morris, Aahmed K. Abou-Taleb and Scott Warantz.

     

    “Environmental
      Laws”
means
      all currently existing and future federal, state, provincial, municipal, local
      and foreign statutes, ordinances, rules, Orders, regulations, remediation
      standards, and other provisions having the force of law for protection of the
      environment, including the Federal Comprehensive Environmental Response,
      Compensation and Liability Act of 1980, 42 U.S.C. Sec. 9601 et seq., as amended,
      the federal Resource Conservation and Recovery Act, 42 U.S.C. Sec. 6901 et
      seq.,
      as amended, and related state statutes.

     

    “Environmental
      Reports”
means
      any environmental sampling or report performed specifically to test compliance
      with any Environmental Laws, and any and all Phase I or II environmental
      assessments, in each case which CFWH has received from an un-Affiliated third
      party within the last thee (3) years; provided,
      Environmental Reports shall not include any safety, health and environmental
      audit reports, or internal investigation reports, prepared under the direction
      of a Party’s legal department and privileged under the attorney-client
      privilege, attorney workproduct privilege, or state or federal environmental
      self-auditing privilege or policy.

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    “Equity
      Securities”
means,
      with respect to a particular limited liability company, (a) any of such
      company’s membership interests and (b) options, warrants or other rights
      convertible into, or exercisable or exchangeable for, directly or indirectly,
      or
      otherwise entitling any Person to acquire, directly or indirectly, any such
      membership interests.

     

    “Far
      Rockaway Chambers”
means
      the two (2) hyperbaric chambers used in connection with the operation of the
      Business at the Far Rockaway Hospital.

     

    “Government”
means
      any agency, division, subdivision, audit group, procuring office or governmental
      or regulatory authority in any event or any adjudicatory body thereof, of the
      United States, any state thereof or any foreign government.

     

    “Hazardous
      Materials”
means
      and includes any hazardous or toxic substance or waste or any contaminant or
      pollutant regulated under Environmental Laws, including, but not limited to,
      “hazardous
      substances”
as
      currently defined by the Federal Comprehensive Environmental Response
      Compensation and Liability Act of 1980, as amended, “hazardous
      wastes”
as
      currently defined by the Resource Conservation and Recovery Act, as amended,
      natural gas, petroleum products or byproducts.

     

    “IRS”
means
      the United States Internal Revenue Service.

     

    “Knowledge
      of CFWH”,
      “CFWH’s
      Knowledge”
or
      any
      other similar term or knowledge qualification means the present actual knowledge
      of Andrew G. Barnett or David J. Walz.

     

    “Knowledge
      of Med-Air”,
      “Med-Air’s
      Knowledge”
or
      any
      other similar term means the present actual knowledge of Richer or
      Macher.

     

    “Lien”
means
      any mortgage, pledge, charge, security interest, encumbrance, lien (statutory
      or
      other) or conditional sale agreement.

     

    “Material
      Adverse Effect”
means
      a
      state of facts, event, change, effect or other circumstance that has had or
      could reasonably be expected to have a material adverse effect on the Business
      of the applicable limited liability company taken as a whole, but excluding
      any
      state of facts, event, change or effect caused by events, changes or
      developments relating to: (i) changes of Laws, (ii) the transactions
      contemplated by this Agreement or the announcement thereof; (vi) changes or
      conditions generally affecting the industries of which the Business is a part;
      (vii) changes in economic, regulatory or political conditions generally; (viii)
      any act(s) of war or of terrorism.

     

    “Med-Air
      Center Portfolio”
means
      each of the Centers listed on Schedule 5.8 attached hereto. 

     

    “Med-Air
      Group”
means
      the Med-Air Parties and their respective Related Persons. 

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

     

    “Med-Air
      Membership Interests”
means
      the Med-Air Parties’ membership interests in Bayonne LLC, Raritan Bay LLC and
      Southampton LLC.

     

    “Med-Air
      Operating Agreements”
means
      the limited liability company operating agreements governing Bayonne LLC,
      Raritan Bay LLC.

     

    “Med-Air
      Transferred LLCs”
means
      Bayonne LLC and Raritan Bay LLC.

     

    “Membership
      Interests”
means
      the Southampton Membership Interests and Med-Air Membership Interests,
      collectively.

     

    “Membership
      Transfer Agreement”
means
      an agreement evidencing the transfer of the Membership Interest in a particular
      limited liability company.

     

    “Operating
      Agreements”
means
      the Med-Air Operating Agreements and Southampton Operating Agreements,
      collectively. 

     

    “Person”
means
      any individual, corporation, partnership, joint venture, association, joint
      stock company, trust, limited liability company, unincorporated organization,
      Government or other entity.

     

    “Prohibited
      Enterprise”
means
      any business enterprise organized to engage in or engaged in the operation
      or
      financing of a Center with respect to which any Disqualified Person: (a)
      assisted or participated (by introduction, sales lead or otherwise) in the
      establishment of such Center; (b) is employed, with or without compensation,
      by
      the owner and/or operator of such Center; (c) is engaged as a consultant, agent
      or an independent contractor, with or without compensation, by the owner and/or
      operator of such Center; or (d) holds an economic or other interest; provided,
      however, that none of the Centers identified on Schedule 5.6 shall be a
      Prohibited Enterprise.

     

    “Purchase
      Option”
means
      the purchase option granted by Med-Air to CFWH, the terms of which are set
      forth
      in paragraph 8.4 hereof.

     

    “Related
      Person”
means,
      with. respect to any Person, all
      past,
      present and future directors, officers, members, managers, stockholders,
      employees, controlling persons, agents, professionals, attorneys, accountants,
      investment bankers, Affiliates or representatives of any such
      Person.

     

    “SEC”
means
      the Securities and Exchange Commission.

     

    “Six
      Chambers”
means
      the Thomas Jefferson Chambers, the Clara Maass Chambers and the Square Chambers,
      collectively.

     

    “Southampton
      Membership Interests”
means
      CFWH’s 49% membership interests in Southampton LLC.

     

    “Southampton
      Operating Agreement”
means
      the limited liability company operating agreement governing Southampton
      LLC.

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

    “Square
      Chambers”
means
      the two (2) hyperbaric chambers used by the Square in connection with the
      operation of the Business at Westchester Square Hospital that have been leased
      from Med-Air.

     

    “Subsidiary”
means,
      with respect to any Person, any corporation, partnership, limited liability
      company, association or other business entity of which (a) if a corporation,
      a
      majority of the total voting power of shares of stock entitled (without regard
      to the occurrence of any contingency) to vote in the election of directors,
      managers or trustees thereof is at the time owned or controlled, directly or
      indirectly, by that Person or one or more of the other Subsidiaries of that
      Person or a combination thereof, or (b) if a partnership, limited liability
      company, association or other business entity, a majority of the partnership
      or
      other similar ownership interest thereof is at the time owned or controlled,
      directly or indirectly, by any Person or one or more Subsidiaries of that Person
      or a combination thereof. For purposes hereof, a Person or Persons shall be
      deemed to have a majority ownership interest in a partnership, limited liability
      company, association or other business entity if such Person or Persons shall
      be
      allocated a majority of partnership, limited liability company, association
      or
      other business entity gains or losses or shall be or control the managing
      director or. general partner of such partnership, limited liability company,
      association or other business entity.

     

    “Taxes”
means
      all taxes, fees, levies, duties and charges, however denominated, including
      any
      interest, penalties or additions to such taxes, fees, levies, duties and charges
      that may become payable in respect thereof, imposed by any Government, which
      taxes, fees, levies, duties and charges shall include all income taxes,
      Transaction Taxes, payroll and employee withholding, unemployment insurance,
      social security (or similar), sales and use, excise, franchise, gross receipts,
      occupation, real and personal property, stamp, transfer, workmen’s compensation,
      customs duties, registration, documentary, value added, alternative or add-on
      minimum, estimated, environmental (including taxes under section 59A of the
      Code) and other obligations of the same or a similar nature, whether arising
      before, on or after the Closing Date.

     

    “Thomas
      Jefferson Chambers”
means
      the two (2) hyperbaric chambers used by Jefferson LLC in connection with the
      operation of the Business at the Thomas Jefferson Hospital that have been leased
      from Med-Air.

     

    “Transaction
      Documents”
means
      the Membership Transfer Agreements, bills of sale, and any other agreements,
      instruments, documents and other writings required to be executed and delivered
      by the Med-Air Parties and/or CFWH under this Agreement.

     

    15.2. All
      Terms Cross-Referenced.
      Each of
      the following terms is defined in the Section set forth opposite such
      term:

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

    

      
        	
                Term

              	 	
                Section

              
	 	 	 
	
                1933
                  Act

              	 	
                15.1

              
	
                1934
                  Act

              	 	
                15.1

              
	
                Acceptance
                  Deadline

              	 	
                11.1

              
	
                Affiliate
                  

              	 	
                15.1

              
	
                Agreement
                  

              	 	
                Preamble

              
	
                Atmo

              	 	
                5th
                  Recital Paragraph

              
	
                Bayonne
                  Hospital

              	 	
                13th Recital Paragraph

              
	
                Bayonne LLC

              	 	
                13th
                  Recital Paragraph

              
	
                Business
                  

              	 	
                15.1

              
	
                Business
                  Day

              	 	
                15.1

              
	
                Capotorto

              	 	
                7th
                  Recital Paragraph

              
	
                Center

              	 	
                15.1

              
	
                CFWH
                  Center Portfolio

              	 	
                15.1

              
	
                CFWH
                  Group

              	 	
                15.1

              
	
                CFWH
                  Southampton Interests

              	 	
                16h
                  Recital Paragraph

              
	
                CFWH

              	 	
                Preamble

              
	
                CFWH’s
                  Knowledge

              	 	
                15.1

              
	
                Clara
                  Maass Chambers

              	 	
                15.1

              
	
                Clara
                  Maass Contract

              	 	
                8th
                  Recital Paragraph

              
	
                Clara
                  Maass Hospital

              	 	
                8th
                  Recital Paragraph

              
	
                Closing
                  

              	 	
                3.1

              
	
                Closing
                  Date

              	 	
                3.1

              
	
                Code

              	 	
                15.1

              
	
                Consent
                  

              	 	
                15.1

              
	
                Consulting
                  Agreements

              	 	
                10th
                  Recital Paragraph

              
	
                Contract

              	 	
                15.1

              
	
                Disclosure
                  Schedules 

              	 	
                15.1

              
	
                Disqualified
                  Person

              	 	
                15.1

              
	
                EKLLC

              	 	
                5th
                  Recital Paragraph

              
	
                Elise

              	 	
                5th
                  Recital Paragraph

              
	
                Environmental
                  Laws 

              	 	
                15.1

              
	
                Environmental
                  Reports 

              	 	
                15.1

              
	
                Equity
                  Securities 

              	 	
                15.1

              
	
                Far
                  Rockaway Chambers

              	 	
                15.1

              
	
                Far
                  Rockaway Contract

              	 	
                9th
                  Recital Paragraph

              
	
                Far
                  Rockaway Hospital

              	 	
                9th
                  Recital Paragraph

              
	
                Far
                  Rockaway LLC

              	 	
                9th
                  Recital Paragraph

              
	
                Far
                  Rockaway Note

              	 	
                12th
                  Recital Paragraph

              
	
                Forman

              	 	
                7th
                  Recital Paragraph

              
	
                Good
                  Faith Payment

              	 	
                2.3

              
	
                Government

              	 	
                15.1

              
	
                Greenberg
                  Group

              	 	
                5th
                  Recital Paragraph

              
	
                Greenbergs

              	 	
                5th
                  Recital Paragraph

              
	
                Hazardous
                  Materials 

              	 	
                15.1

              
	
                Holders

              	 	
                2.5

              
	
                IRS
                  

              	 	
                15.1

              
	
                Jefferson
                  LLC

              	 	
                10th
                  Recital Paragraph

              
	
                Keith

              	 	
                5th
                  Recital Paragraph

              
	
                Knowledge
                  of CFWH 

              	 	
                15.1

              
	
                Law
                  

              	 	
                4.3

              
	
                Lien
                  

              	 	
                15.1

              

      

    

    
      
        
        

      

      
        28

        
          

        

      

      
        
        

      

    

    

      
        	
                Macher
                  Stock

              	
                2.2(b)

              
	
                Macher

              	
                Preamble

              
	
                Material
                  Adverse Effect

              	
                15.1

              
	
                Material
                  Contracts

              	
                4.12

              
	
                Maximum
                  Number

              	
                .2.5

              
	
                Med-Air
                  2004 Modification

              	
                21st
                  Recital Paragraph

              
	
                Med-Air
                  Bayonne Interests

              	
                14th
                  Recital Paragraph

              
	
                Med-Air
                  Center Portfolio

              	
                15.1

              
	
                Med-Air
                  Contracts

              	
                21st
                  Recital Paragraph

              
	
                Med-Air
                  Group

              	
                15.1

              
	
                Med-Air
                  Material Contracts

              	
                5.10

              
	
                Med-Air
                  Membership Interests

              	
                15.1

              
	
                Med-Air
                  Note

              	
                2.2(a)

              
	
                Med-Air
                  Operating Agreements

              	
                15.1

              
	
                Med-Air
                  Parties

              	
                Preamble

              
	
                Med-Air
                  Raritan Bay Interests

              	
                18th
                  Recital Paragraph

              
	
                Med-Air
                  Transaction

              	
                11.1

              
	
                Med-Air
                  Transferred LLCs

              	
                15.1

              
	
                Med-Air
                  Wilkes-Barre Interests

              	
                20th
                  Recital Paragraph

              
	
                Med-Air

              	
                Preamble

              
	
                Med-Air’s
                  Knowledge 

              	
                15.1

              
	
                Membership
                  Interests

              	
                15.1

              
	
                Membership
                  Transfer Agreement

              	
                15.1

              
	
                Montefiore
                  Contract

              	
                6th
                  Recital Paragraph

              
	
                New
                  Island Contract

              	
                5th
                  Recital Paragraph

              
	
                New
                  Island Hospital

              	
                5th
                  Recital Paragraph

              
	
                Notice

              	
                11.1

              
	
                NY
                  Hyperbaric

              	
                2nd
                  Recital Paragraph

              
	
                Offer

              	
                11.1

              
	
                Operating
                  Agreements

              	
                15.1

              
	
                Order
                  

              	
                4.3

              
	
                Organizational
                  Documents

              	
                4.3

              
	
                Party
                  or Parties

              	
                Preamble

              
	
                Person

              	
                15.1

              
	
                Piggyback
                  Registration Request

              	
                2.5

              
	
                Piggyback
                  Registration Rights

              	
                2.5

              
	
                Piggyback
                  Registration

              	
                2.5

              
	
                Prohibited
                  Enterprise

              	
                15.1

              
	
                Purchase
                  Option

              	
                15.1

              
	
                Raritan
                  Bay Hospital

              	
                17th
                  Recital Paragraph

              
	
                Raritan
                  Bay LLC

              	
                17th
                  Recital Paragraph

              
	
                Registrable
                  Securities

              	
                2.5

              
	
                Related
                  Person 

              	
                15.1

              
	
                Richer
                  Stock

              	
                2.2(c)

              
	
                Richer

              	
                Preamble

              
	
                SEC

              	
                15.1

              

      

    

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

    

      
        	
                Six
                  Chambers

              	
                15.1

              
	
                Southampton
                  Hospital

              	
                15th
                  Recital Paragraph

              
	
                Southampton
                  LLC

              	
                15th
                  Recital Paragraph

              
	
                Southampton
                  Membership Interests

              	
                15.1

              
	
                Southampton
                  Operating Agreements

              	
                15.1

              
	
                Square
                  Chambers

              	
                15.1

              
	
                Square

              	
                7th
                  Recital Paragraph

              
	
                Stephen

              	
                7th
                  Recital Paragraph

              
	
                Subsidiary
                  

              	
                15.1

              
	
                Tax
                  Return

              	
                10.3

              
	
                Taxes

              	
                15.1

              
	
                Third
                  Party

              	
                11.1

              
	
                Thomas
                  Jefferson Chambers

              	
                15.1

              
	
                Thomas
                  Jefferson Contract

              	
                10th
                  Recital Paragraph

              
	
                Thomas
                  Jefferson Hospital

              	
                10th
                  Recital Paragraph

              
	
                Transaction
                  Documents 

              	
                15.1

              
	
                Transaction
                  Taxes 

              	
                10.1

              
	
                Transaction
                  Taxes

              	
                10.1

              
	
                Usage
                  Period

              	
                8.1

              
	
                Westchester
                  Square Contract

              	
                7th
                  Recital Paragraph

              
	
                Westchester
                  Square Hospital

              	
                7th
                  Recital Paragraph

              
	
                Wilkes-Barre
                  ASA

              	
                19th
                  Recital Paragraph

              
	
                WVHC-Hospital

              	
                19th
                  Recital Paragraph

              

      

    

    

    (Signatures
      are on the following page)

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Settlement Agreement to
      be
      executed by their respective officers thereunto duly authorized as of the date
      first above written.

     

    
      	
              THE
                CENTER FOR WOUND HEALING, INC.

            
	 	 
	
              By:

            	
              /s/
                Andrew
                Barnett                       

            
	
              Name: 
                Andrew
                Barnett

            
	
              Title: 
                Chief
                Executive Officer

            
	 	 
	
              MED-AIR
                CONSULTANTS, INC.

            
	 	 
	
              By:

            	
              /s/
                Joel
                Macher                              

            
	
              Name:
                 Joel
                Macher

            
	
              Title: 
                Chief
                Executive Officer

            
	 	 
	
              ALAN
                RICHER

            
	 	 
	
              /s/
                Alan
                Richer                                          

            
	 	 
	
              JOEL
                MACHER

            
	 	 
	
              /s/
                Joel
                Macher                                          

            

    

    
      
        
        

      

      
        31

        
          

        

      

      
        
        

      

    

    PROMISSORY
      NOTE

    

    
      	
              $U.S.
                1,894,250.00

            	
              August
                14, 2007

            

    

    

    FOR
      VALUE
      RECEIVED, the undersigned, THE CENTER FOR WOUND HEALING, INC., a Nevada
      corporation (“CFWH”) hereby promises to pay to the order of MED-AIR CONSULTANTS,
      INC., a New York corporation (“Med-Air”), the sum of $1,894,250.00.

    

    CFWH
      promises to make the payments required under this promissory note, without
      interest, in thirty-six (36) monthly installments in accordance with the
      schedule attached hereto as Schedule 1, which schedule is part of this
      promissory note. Each payment shall be recorded by Med-Air or the successor
      noteholder, if the note has been properly assigned in accordance with the
      assignment provisions herein (the “Holder”), and endorsed on Schedule 1. CFWH
      shall not be entitled to prepay this promissory note within the first twelve
      (12) months of the date hereof. If CFWH prepays this promissory note in full
      at
      any time after the one-year anniversary of the execution of this promissory
      note, the amounts owed under this promissory note shall be payable at a discount
      of twelve percent (12%) and without any prepayment penalty.

    

    If
      CFWH
      fails to make a payment required under this promissory note when such payment
      is
      due in accordance with Schedule 1 (an “Unpaid Installment”), such nonpayment
      shall constitute a default of CFWH’s obligations under this promissory note as
      of the date CFWH was required to pay such Unpaid Installment (an “Event of
      Default”). In the event that the Event of Default is not cured within fifteen
      (15) business days following an Event of Default, all then unpaid installment
      payments owing under this promissory note (the “Accelerated Amount”), plus the
      amount of the Unpaid Installment, shall automatically become immediately due
      and
      payable. Any Unpaid Installment shall accrue simple interest at the rate of
      12%
      per annum. If CFWH pays the Unpaid Installment plus interest thereon on or
      prior
      to the fifteenth (15th) business day after an Event of Default, the Event(s)
      of
      Default upon which such automatic acceleration was predicated shall be deemed
      to
      be cured, and payment of all then unpaid installment payments shall not be
      accelerated and such payments shall be due and owing as set forth on Schedule
      1.

    

    If
      CFWH
      fails to pay the Unpaid Installment on or prior to the fifteenth (15th) business
      day after an Event of Default, such Unpaid Installment and the Accelerated
      Amount shall accrue simple interest at the rate of 12% per annum. So long as
      any
      Event of Default has occurred and is continuing, CFWH shall not be entitled,
      without the written consent of the Holder, to prepay this promissory note.
      

    

    The
      payments owing under this promissory note shall be made to the Holder in lawful
      money of the United States of America (in immediately available funds) by
      certified or bank check or by wire transfer to an account or accounts designated
      by the Holder from time to time. 

    
      
        
        

      

      
        32

        
          

        

      

      
        
        

      

    

    

    CFWH
      hereby waives presentment, demand, protest and notice of any kind. No failure
      to
      exercise, and no delay in exercising, any rights hereunder on the part of the
      holder hereof shall operate as a waiver of such rights.

    

    Neither
      this promissory note nor any term hereof may be amended, waived, discharged
      or
      terminated other than by a written instrument referencing this promissory note
      and signed by each of the parties to this promissory note. 

    

    This
      promissory note may not be assigned to any person or entity without the written
      consent of each of the parties to this promissory note; provided,
      however,
      that
      Med-Air may, upon prior written notice to CFWH, assign this promissory note
      to
      any affiliate of Med-Air without the written consent of CFWH. 

    

    This
      promissory note shall be construed in accordance with and governed by the laws
      of the State of New York, without regard to principles of conflict of laws
      that
      would result in the application of the laws of another jurisdiction.

    

    IN
      WITNESS WHEREOF, CFWH has executed this promissory note as of the date first
      above written.

    

    
      	
              THE
                CENTER FOR WOUND HEALING, INC.

            
	 	 
	
              By:

            	  

	 	
              Name:
                Andrew G. Barnett

            
	 	
              Title:
                Chief Executive Officer

            

    

    
      
        
        

      

      
        33

        
          

        

      

      
        
        

      

    

    SCHEDULE
      1

    

    
      	
              Installment #

            	 	
              Date

            	 	
              Amount of 

              Payment

            	 	
              Unpaid Balance

            	 	
              Notation Made

               By

            	 
	
              1

            	 	 	
              August
                14, 2007

            	 	
              $

            	
              113,562.50

            	* 	
              $

            	
              1,780,562.50

            	 	 	 	 
	
              2

            	 	 	
              September
                14, 2007

            	 	
              $

            	
              113,562.50

            	 	
              $

            	
              1,667,125.00

            	 	 	 	 
	
              3

            	 	 	
              October
                14, 2007

            	 	
              $

            	
              113,562.50

            	 	
              $

            	
              1,553,562.50

            	 	 	 	 
	
              4

            	 	 	
              November
                14, 2007

            	 	
              $

            	
              113,562.50

            	 	
              $

            	
              1,440,000.00

            	 	 	 	 
	
              5

            	 	 	
              December
                14, 2007

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              1,395,000.00

            	 	 	 	 
	
              6

            	 	 	
              January
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              1,350,000.00

            	 	 	 	 
	
              7

            	 	 	
              February
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              1,305,000.00

            	 	 	 	 
	
              8

            	 	 	
              March
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              1,260,000.00

            	 	 	 	 
	
              9

            	 	 	
              April
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              1,215,000.00

            	 	 	 	 
	
              10

            	 	 	
              May
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              1,170,000.00

            	 	 	 	 
	
              11

            	 	 	
              June
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              1,125,000.00

            	 	 	 	 
	
              12

            	 	 	
              July
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              1,080,000.00

            	 	 	 	 
	
              13

            	 	 	
              August
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              1,035,000.00

            	 	 	 	 
	
              14

            	 	 	
              September
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              990,000.00

            	 	 	 	 
	
              15

            	 	 	
              October
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              945,000.00

            	 	 	 	 
	
              16

            	 	 	
              November
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              900,000.00

            	 	 	 	 
	
              17

            	 	 	
              December
                14, 2008

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              855,000.00

            	 	 	 	 
	
              18

            	 	 	
              January
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              810,000.00

            	 	 	 	 
	
              19

            	 	 	
              February
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              765,000.00

            	 	 	 	 
	
              20

            	 	 	
              March
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              720,000.00

            	 	 	 	 
	
              21

            	 	 	
              April
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              675,000.00

            	 	 	 	 

    

    
      
        	
                22

              	 	 	
                May
                  14, 2009

              	 	
                $

              	
                45,000.00

              	 	
                $

              	
                630,000.00

              	 	 	 	 

      

      
        
*  The
        sum
        of $25,000 has been prepaid by CFWH such that only $88,562.50 of this
        $113,562.50 remains due and owing on August 14, 2007

    

    
      
        
        

      

      
        34

        
          

        

      

      
        
        

      

    

    

    
      	
              Installment #

            	
               

            	
              Date

            	
               

            	
              Amount of 

              Payment

            	
               

            	
              Unpaid Balance

            	
               

            	
              Notation Made 

              By

            	 
	
              23

            	 	 	
              June
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              585,000.00

            	 	 	 	 
	
              24

            	 	 	
              July
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              540,000.00

            	 	 	 	 
	
              25

            	 	 	
              August
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              495,000.00

            	 	 	 	 
	
              26

            	 	 	
              September
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              450,000.00

            	 	 	 	 
	
              27

            	 	 	
              October
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              405,000.00

            	 	 	 	 
	
              28

            	 	 	
              November
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              360,000.00

            	 	 	 	 
	
              29

            	 	 	
              December
                14, 2009

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              315,000.00

            	 	 	 	 
	
              30

            	 	 	
              January
                14, 2010

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              270,000.00

            	 	 	 	 
	
              31

            	 	 	
              February
                14, 2010

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              225,000.00

            	 	 	 	 
	
              32

            	 	 	
              March
                14, 2010

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              180,000.00

            	 	 	 	 
	
              33

            	 	 	
              April
                14, 2010

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              135,000.00

            	 	 	 	 
	
              34

            	 	 	
              May
                14, 2010

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              90,000.00

            	 	 	 	 
	
              35

            	 	 	
              June
                14, 2010

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              45,000.00

            	 	 	 	 
	
              36

            	 	 	
              July
                14, 2010

            	 	
              $

            	
              45,000.00

            	 	
              $

            	
              0.00

            	 	 	 	 

    

    

    
      
        
        

      

      
        35

        
          

        

      

      
        
        

      

    

    MEMBERSHIP
      TRANSFER AGREEMENT

    

    This
      MEMBERSHIP TRANSFER AGREEMENT (this “Agreement”)
      is made
      as of August 14, 2007, by and between The Center For Wound Healing, Inc., a
      Nevada corporation (“Assignor”),
      and
      Med-Air Consultants, Inc., a ______________ corporation (“Assignee”).
      

    

    WITNESSETH:

    

    WHEREAS,
      Assignor
      is a member in Southampton Hyperbaric, LLC (the “Company”);
      and

    

    WHEREAS,
      Assignor
      owns 49% of the membership interests in the Company (the “LLC
      Interests”);
      and

    

    WHEREAS,
      Assignor
      and Assignee are parties to that certain Settlement Agreement dated as of August
      9, 2007 (as may be amended, supplemented or otherwise modified from time to
      time, the “Settlement Agreement”), pursuant to which Assignee has agreed to
      acquire from Assignor, and Assignor has agreed to transfer and assign to
      Assignee, Assignor’s right, title, and interest in and to the LLC Interests.

    

    NOW,
      THEREFORE,
      in
      consideration of the foregoing and for other good and valuable consideration,
      the receipt and sufficiency of which are hereby acknowledged, Assignor and
      Assignee agree as follows:

    

    1. Pursuant
      to the terms and conditions set forth in the Settlement Agreement, Assignor
      hereby sells, assigns, transfers, and sets over to Assignee all of Assignor’ s
      right, title and interest in and to the LLC Interests, together with all capital
      accounts, earnings, contributions, rights, benefits and privileges belonging
      or
      pertaining thereto or held or enjoyed in connection therewith, TO HAVE AND
      TO
      HOLD the same unto Assignee, its successors and assigns from and after the
      date
      hereof. 

    

    2. Pursuant
      to the terms and conditions of the Settlement Agreement, Assignee hereby
      affirmatively and unconditionally assumes and agrees to perform all of the
      liabilities and obligations of Assignor relating to the LLC
      Interests.

    

    3. Except
      for the representations set forth in the Settlement Agreement, Assignor has
      not
      made and does not make any express or implied warranty or representation of
      any
      kind whatsoever with respect to the LLC Interests. Except as provided in the
      Settlement Agreement, Assignee accepts the LLC Interests on an “AS
      IS,
      WHERE IS”
basis,
      and without warranty or representation of any kind whatsoever.

    

    4. This
      Agreement is an instrument of transfer and conveyance contemplated by, and
      is
      executed and delivered under and pursuant to, the Settlement
      Agreement.

    
      
        
        

      

      
        36

        
          

        

      

      
        
        

      

    

    5. The
      provisions of this Agreement shall be binding upon Assignor, its successors
      and
      assigns, and all persons claiming by, under or through Assignor or any such
      successor or assign, and shall inure to the benefit of and be enforceable by
      Assignee and its successors and assigns.

     

    6. This
      Agreement shall be construed in accordance with and governed by the laws of
      the
      State of New York, without regard to principles of conflict of laws that would
      result in the application of the laws of another jurisdiction.

     

    7. This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      deemed an original, but all of which, when taken together, shall constitute
      one
      and the same instrument. 

     

    [The
      remainder of this page is intentionally left blank.]

    
      
        
        

      

      
        37

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties have executed this Agreement as of the day and
      year
      first above written.

    

    
      	
              ASSIGNOR:

            
	 
	
              THE
                CENTER FOR WOUND HEALING, INC.

            
	 	 
	
              By:

            	  

	
              Name:

            
	
              Title:

            
	 	 
	
              ASSIGNEE:

            
	 
	
              MED-AIR
                CONSULTANTS, INC.

            
	 	 
	
              By:

            	  

	
              Name:

            
	
              Title:

            

    

    
      
        
        

      

      
        38

        
          

        

      

      
        
        

      

    

    

    MEMBERSHIP
      TRANSFER AGREEMENT

    

    This
      MEMBERSHIP TRANSFER AGREEMENT (this “Agreement”)
      is made
      as of August 14, 2007, by and between Joel Macher (“Macher”)
      and
      Alan Richer (“Richer”
and
      together with Macher, “Assignors”),
      and
      The Center For Wound Healing, Inc., a Nevada corporation (“Assignee”).
      

    

    WITNESSETH:

    

    WHEREAS,
      Assignors are members in Bayonne Hyperbaric, LLC (the “Company”);
      and

    

    WHEREAS,
      Macher
      and Richer each own 20% of the membership interests in the Company
      (collectively, the “LLC
      Interests”);
      and

    

    WHEREAS,
      Assignors and Assignee are parties to that certain Settlement Agreement dated
      as
      of August 9, 2007 (as may be amended, supplemented or otherwise modified from
      time to time, the “Settlement Agreement”), pursuant to which Assignee has agreed
      to acquire from Assignors, and Assignors have agreed to transfer and assign
      to
      Assignee, Assignors’ right, title, and interest in and to the LLC Interests.

    

    NOW,
      THEREFORE,
      in
      consideration of the foregoing and for other good and valuable consideration,
      the receipt and sufficiency of which are hereby acknowledged, Assignors and
      Assignee agree as follows:

    

    1. Pursuant
      to the terms and conditions set forth in the Settlement Agreement, Assignors
      hereby sell, assign, transfer, and set over to Assignee all of Assignors’ right,
      title and interest in and to the LLC Interests, together with all capital
      accounts, earnings, contributions, rights, benefits and privileges belonging
      or
      pertaining thereto or held or enjoyed in connection therewith, TO HAVE AND
      TO
      HOLD the same unto Assignee, its successors and assigns from and after the
      date
      hereof. 

    

    2. Pursuant
      to the terms and conditions of the Settlement Agreement, Assignee hereby
      affirmatively and unconditionally assumes and agrees to perform all of the
      liabilities and obligations of Assignors relating to the LLC
      Interests.

    

    3. Except
      for the representations set forth in the Settlement Agreement, Assignors have
      not made and do not make any express or implied warranty or representation
      of
      any kind whatsoever with respect to the LLC Interests. Except as provided in
      the
      Settlement Agreement, Assignee accepts the LLC Interests on an “AS
      IS,
      WHERE IS”
basis,
      and without warranty or representation of any kind whatsoever.

    

    4. This
      Agreement is an instrument of transfer and conveyance contemplated by, and
      is
      executed and delivered under and pursuant to, the Settlement
      Agreement.

    
      
        
        

      

      
        39

        
          

        

      

      
        
        

      

    

    5. The
      provisions of this Agreement shall be binding upon Assignors, their successors
      and assigns, and all persons claiming by, under or through Assignors or any
      such
      successor or assign, and shall inure to the benefit of and be enforceable by
      Assignee and its successors and assigns.

     

    6. This
      Agreement shall be construed in accordance with and governed by the laws of
      the
      State of Pennsylvania, without regard to principles of conflict of laws that
      would result in the application of the laws of another
      jurisdiction.

     

    7. This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      deemed an original, but all of which, when taken together, shall constitute
      one
      and the same instrument. 

     

    [The
      remainder of this page is intentionally left blank.]

    
      
        
        

      

      
        40

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties have executed this Agreement as of the day and
      year
      first above written.

    

    
      	
              ASSIGNORS:

            
	 
	
              JOEL
                MACHER

            
	 
	 
	
              ALAN
                RICHER

            
	 
	 
	
              ASSIGNEE

            
	 
	
              THE
                CENTER FOR WOUND HEALING, INC.

            
	 
	 
	
              By

            
	
              Name:

            
	
              Title:

            

    

    
      
        
        

      

      
        41

        
          

        

      

      
        
        

      

    

    MEMBERSHIP
      TRANSFER AGREEMENT

    

    This
      MEMBERSHIP TRANSFER AGREEMENT (this “Agreement”)
      is made
      as of August 14, 2007, by and between Joel Macher (“Macher”)
      and
      Alan Richer (“Richer”
and
      together with Macher, “Assignors”),
      and
      The Center For Wound Healing, Inc., a Nevada corporation (“Assignee”).
      

    

    WITNESSETH:

    

    WHEREAS,
      Assignors are members in Raritan Bay, LLC (the “Company”);
      and

    

    WHEREAS,
      Macher
      and Richer each own 25.5% of the membership interests in the Company
      (collectively, the “LLC
      Interests”);
      and

    

    WHEREAS,
      Assignors and Assignee are parties to that certain Settlement Agreement dated
      as
      of August 9, 2007 (as may be amended, supplemented or otherwise modified from
      time to time, the “Settlement Agreement”), pursuant to which Assignee has agreed
      to acquire from Assignors, and Assignors have agreed to transfer and assign
      to
      Assignee, Assignors’ right, title, and interest in and to the LLC Interests.

    

    NOW,
      THEREFORE,
      in
      consideration of the foregoing and for other good and valuable consideration,
      the receipt and sufficiency of which are hereby acknowledged, Assignors and
      Assignee agree as follows:

    

    1. Pursuant
      to the terms and conditions set forth in the Settlement Agreement, Assignors
      hereby sell, assign, transfer, and set over to Assignee all of Assignors’ right,
      title and interest in and to the LLC Interests, together with all capital
      accounts, earnings, contributions, rights, benefits and privileges belonging
      or
      pertaining thereto or held or enjoyed in connection therewith, TO HAVE AND
      TO
      HOLD the same unto Assignee, its successors and assigns from and after the
      date
      hereof. 

    

    2. Pursuant
      to the terms and conditions of the Settlement Agreement, Assignee hereby
      affirmatively and unconditionally assumes and agrees to perform all of the
      liabilities and obligations of Assignors relating to the LLC
      Interests.

    

    3. Except
      for the representations set forth in the Settlement Agreement, Assignors have
      not made and do not make any express or implied warranty or representation
      of
      any kind whatsoever with respect to the LLC Interests. Except as provided in
      the
      Settlement Agreement, Assignee accepts the LLC Interests on an “AS
      IS,
      WHERE IS”
basis,
      and without warranty or representation of any kind whatsoever.

    

    4. This
      Agreement is an instrument of transfer and conveyance contemplated by, and
      is
      executed and delivered under and pursuant to, the Settlement
      Agreement.

    
      
        
        

      

      
        42

        
          

        

      

      
        
        

      

    

    5. The
      provisions of this Agreement shall be binding upon Assignors, their successors
      and assigns, and all persons claiming by, under or through Assignors or any
      such
      successor or assign, and shall inure to the benefit of and be enforceable by
      Assignee and its successors and assigns.

     

    6. This
      Agreement shall be construed in accordance with and governed by the laws of
      the
      State of Pennsylvania, without regard to principles of conflict of laws that
      would result in the application of the laws of another
      jurisdiction.

     

    7. This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      deemed an original, but all of which, when taken together, shall constitute
      one
      and the same instrument. 

     

    [The
      remainder of this page is intentionally left blank.]

     

    
      
        
        

      

      
        43

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties have executed this Agreement as of the day and
      year
      first above written.

    

    
      	
              ASSIGNORS:

            
	 
	
              JOEL
                MACHER

            
	 
	   

	 
	
              ALAN
                RICHER

            
	 
	    

	 
	
              ASSIGNEE

            
	 
	
              THE
                CENTER FOR WOUND HEALING, INC.

            
	 
	
              By:

            	  

	
              Name:

            
	
              Title:

            

    

    
      
        
        

      

      
        44

        
          

        

      

      
        
        

      

    

    

    DISCLOSURE
      SCHEDULE 5.9

     

    NONE

    
      
        
        

      

      
        45

        
          

        

      

      
        
        

      

    

    DISCLOSURE
      SCHEDULE 5.6

     

    SEE
      ATTACHED (ONE PAGE)

    
      
        
        

      

      
        46

        
          

        

      

      
        
        

      

    

    HOSPITAL
      LIST- AS PER SETTLEMENT AGREEMENT ENTERED INTO AUGUST 2007 IN COMPLIANCE WITH
      PARAGRAPHS 5.6 & 5.8,

     

    
      	
              EAST
                ORANGE GENERAL HOSPITAL 

            	
              EAST
                ORANGE, N.J.

            
	
              SOUTHAMPTON
                HOSPITAL 

            	
              SOUTHAMPTON,
                N.Y.

            
	
              MARIAN
                HOSPITAL

            	
              CARBON
                DALE, N.Y.

            
	
              NEW
                ISLAND HOSPITAL

            	
              BETHPAGE,
                N.Y.

            
	
              ST.
                FRANCIS HOSPITAL

            	
              WILMINGTON,
                DE.

            
	
              MERCY
                HOSPITAL

            	
              PHILADELPHIA,
                PA.

            
	
              CAMDEN
                CLARK MEM HOSP

            	
              PARKERSBURG,
                W.V.

            
	
              ST.
                MARY'S MEDICAL CENTER 

            	
              HUNTINGTON,
                W.V.

            
	
              GENESYS
                MEDICAL CENTER 

            	
              GRAND
                BLANC, MI.

            
	
              LOURDES
                HEALTH SYSTEM

            	
              WILLINGBORO/CAMDEN,
                N.J.

            
	
              ALTON
                HOSPITAL

            	
              CHICAGO,
                IL.

            
	
              ROSELAND
                HOSPITAL

            	
              CHICAGO,
                IL.

            
	
              COLUMBUS
                HOSPITAL

            	
              NEWARK,
                N.J.

            
	
              RARITAN
                BAY MEDICAL CENTER 

            	
              PERTH
                AMBOY, N.J.

            
	
              BAYONNE
                MEDICAL CENTER 

            	
              BAYONNE,
                N.J.

            
	
              WYOMING
                VALLEY HEALTH SYSTEM 

            	
              WILKES-BARRE-
                ET AL

            
	
              ST.
                JOHN'S HOSPITAL

            	
              FAR
                ROCKAWAY, N.Y.

            
	
              INTERFAITH
                HOSPITAL

            	
              BROOKLYN,
                N.Y.

            
	
              NORTH
                NAPLES HOSPITAL 

            	
              NAPLES,
                FL.

            
	
              THOMAS
                JEFFERSON HOSPITAL 

            	
              PHILADELPHIA,
                PA.

            
	
              CLARA
                MAASS HOSPITAL 

            	
              E.ORANGE,
                N.J.

            
	
              WESTCHESTER
                SQUARE HOSPITAL 

            	
              BRONX,
                N.Y.

            
	
              MONTEFIORE
                HOSPITAL

            	
              N.Y.
                N.Y.

            

    

    
      
        
        

      

      
        47

        
          

        

      

      
        
        

      

    

    DISCLOSURE
      SCHEDULE 5.8 

     

    SEE
      ATTACHED (ONE PAGE)

     

    
      
        
        

      

      
        48

        
          

        

      

      
        
        

      

    

    HOSPITAL
      LIST- AS PER SETTLEMENT AGREEMENT ENTERED INTO AUGUST 2007

    IN
      COMPLIANCE WITH PARAGRAPHS 5.6 & 5.8,

     

    
      	
              EAST
                ORANGE GENERAL HOSPITAL 

            	
              EAST
                ORANGE, N.J.

            
	
              SOUTHAMPTON
                HOSPITAL 

            	
              SOUTHAMPTON,
                N.Y.

            
	
              MARIAN
                HOSPITAL

            	
              CARBON
                DALE, N.Y.

            
	
              NEW
                ISLAND HOSPITAL

            	
              BETHPAGE,
                N.Y.

            
	
              ST.
                FRANCIS HOSPITAL

            	
              WILMINGTON,
                DE.

            
	
              MERCY
                HOSPITAL

            	
              PHILADELPHIA,
                PA.

            
	
              CAMDEN
                CLARK MEM HOSP

            	
              PARKERSBURG,
                W.V.

            
	
              ST.
                MARY'S MEDICAL CENTER 

            	
              HUNTINGTON,
                W.V.

            
	
              GENESYS
                MEDICAL CENTER 

            	
              GRAND
                BLANC, MI.

            
	
              LOURDES
                HEALTH SYSTEM

            	
              WILLINGBORO/CAMDEN,
                N.J.

            
	
              ALTON
                HOSPITAL

            	
              CHICAGO,
                IL.

            
	
              ROSELAND
                HOSPITAL

            	
              CHICAGO,
                IL.

            
	
              COLUMBUS
                HOSPITAL

            	
              NEWARK,
                N.J.

            
	
              RARITAN
                BAY MEDICAL CENTER 

            	
              PERTH
                AMBOY, N.J.

            
	
              BAYONNE
                MEDICAL CENTER 

            	
              BAYONNE,
                N.J.

            
	
              WYOMING
                VALLEY HEALTH SYSTEM 

            	
              WILKES-BARRE-
                ET AL

            
	
              ST.
                JOHN'S HOSPITAL

            	
              FAR
                ROCKAWAY, N.Y.

            
	
              INTERFAITH
                HOSPITAL

            	
              BROOKLYN,
                N.Y.

            
	
              NORTH
                NAPLES HOSPITAL 

            	
              NAPLES,
                FL.

            
	
              THOMAS
                JEFFERSON HOSPITAL 

            	
              PHILADELPHIA,
                PA.

            
	
              CLARA
                MAASS HOSPITAL 

            	
              E.ORANGE,
                N.J.

            
	
              WESTCHESTER
                SQUARE HOSPITAL 

            	
              BRONX,
                N.Y.

            
	
              MONTEFIORE
                HOSPITAL

            	
              N.Y.
                N.Y.

            

    

    
      
        
        

      

      
        49THIRD
      AMENDMENT AND WAIVERS

    DATED
      AS OF MAY 29, 2007

    TO

    AMENDED
      AND RESTATED LOAN AGREEMENT

    

    BY
      AND AMONG

    

    NY
      HYPERBARIC, LLC, FOREST HILLS HYPERBARIC, LLC, SCRANTON HYPERBARIC LLC, JFK
      HYPERBARIC LLC, TRENTON HYPERBARIC, LLC, NEWARK BI LLC, PASSAIC HYPERBARIC,
      LLC,
      ST JOSEPHS HYPERBARIC LLC, GREATER BRONX HYPERBARIC LLC (f/k/a Montefiore
      Hyperbaric LLC), ELISE KING, LLC, SOUTH NASSAU HYPERBARIC, LLC, NEW YORK
      HYPERBARIC AND WOUND CARE CENTERS LLC, NEW YORK HYPERBARIC AND WOUND CARE
      CENTERS, L.L.C., VB HYPERBARIC, LLC, EIN HYPERBARIC LLC, MAIMONIDES HYPERBARIC,
      LLC, THE SQUARE HYPERBARIC, LLC, SOUTH N HYPERBARIC LLC, MUHLENBERG HYPERBARIC
      LLC, LOWELL HYPERBARIC LLC., THE CENTER FOR WOUND HEALING I, LLC (f/k/a Modern
      Medical, LLC), THE CENTER FOR WOUND HEALING II, LLC (f/k/a Modern Medical
      Specialties, LLC), NJ HYPERBARIC, LLC, FAR ROCKAWAY HYPERBARIC, LLC, ATLANTIC
      HYPERBARIC, LLC, ATLANTIC ASSOCIATES, LLC, CEF PRODUCTS, LLC, CMC HYPERBARIC,
      LLC, PENNSYLVANIA HYPERBARIC, LLC, HYPERBARIC, LLC (a/k/a Massachusetts
      Hyperbaric, LLC and MEADOWLANDS HYPERBARIC, LLC

    (collectively,
      the “Borrower”)

    

    AND

    

    SIGNATURE
      BANK

    (the
      “Bank”)

     

    
      
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    THIS
      THIRD AMENDMENT AND WAIVER (collectively, the “Third Amendment”) made as of the
      29th
      day of
      May, 2007 by and among NY HYPERBARIC, LLC, FOREST HILLS HYPERBARIC, LLC,
      SCRANTON HYPERBARIC LLC, JFK HYPERBARIC LLC, TRENTON HYPERBARIC, LLC, NEWARK
      BI
      LLC, PASSAIC HYPERBARIC, LLC, ST JOSEPHS HYPERBARIC LLC, GREATER BRONX
      HYPERBARIC LLC (f/k/a Montefiore Hyperbaric LLC), ELISE KING, LLC, SOUTH NASSAU
      HYPERBARIC, LLC, NEW YORK HYPERBARIC AND WOUND CARE CENTERS LLC, NEW YORK
      HYPERBARIC AND WOUND CARE CENTERS, L.L.C., VB HYPERBARIC, LLC, EIN HYPERBARIC
      LLC, MAIMONIDES HYPERBARIC, LLC, THE SQUARE HYPERBARIC, LLC, SOUTH N HYPERBARIC
      LLC, MUHLENBERG HYPERBARIC LLC, LOWELL HYPERBARIC LLC., THE CENTER FOR WOUND
      HEALING I, LLC (f/k/a Modern Medical, LLC), THE CENTER FOR WOUND HEALING II,
      LLC
      (f/k/a Modern Medical Specialties, LLC), NJ HYPERBARIC, LLC, FAR ROCKAWAY
      HYPERBARIC, LLC, ATLANTIC HYPERBARIC, LLC, ATLANTIC ASSOCIATES, LLC, CEF
      PRODUCTS, LLC, CMC HYPERBARIC, LLC, PENNSYLVANIA HYPERBARIC, LLC, HYPERBARIC,
      LLC (a/k/a Massachusetts Hyperbaric, LLC), MEADOWLANDS HYPERBARIC, LLC, each
      with a place of business at 517 Route 1 South, Iselin, New Jersey 08830 and
      SIGNATURE BANK, a New York bank having an office at 1225 Franklin Avenue, Garden
      City, New York 11530 (the “Bank”).

    

    W
      I T N E S S E T H:

    

    WHEREAS,
      certain of the entities comprising the Borrower and the Bank entered into a
      Amended and Restated Loan Agreement dated as of June 17, 2005 as amended by
      a
      First Amendment dated as of April 7, 2006 and a Second Amendment dated as of
      February 1, 2007 (collectively, the “Agreement”) providing for certain financial
      accommodations to the Borrower and which Agreement is now in full force and
      effect; and

    

    WHEREAS,
      in accordance with the provisions of Section 5.10 of the Agreement, the
      following Persons, affiliates of the Borrower prior to the date of this Third
      Amendment, have executed an adoption supplement in the form of Exhibit C to
      the
      Agreement and therefore have also entered into this Third Amendment: THE CENTER
      FOR WOUND HEALING I, LLC (f/k/a Modern Medical, LLC), THE CENTER FOR WOUND
      HEALING II, LLC (f/k/a Modern Medical Specialties, LLC), NJ HYPERBARIC, LLC,
      FAR
      ROCKAWAY HYPERBARIC, LLC, ATLANTIC HYPERBARIC, LLC, ATLANTIC ASSOCIATES, LLC,
      CEF PRODUCTS, LLC, CMC HYPERBARIC, LLC, PENNSYLVANIA HYPERBARIC, LLC,
      HYPERBARIC, LLC (a/k/a Massachusetts Hyperbaric, LLC), and MEADOWLANDS
      HYPERBARIC, LLC (collectively, the “Additional Borrowers”); and

    

    WHEREAS,
      The Center for Wound Healing, Inc., the holder of all or the majority of the
      ownership interests in the Borrower (the “Corporate Guarantor”) has guaranteed
      the Borrowers’ obligation under the Loan Agreement by execution of a guaranty of
      all liability (the “Guaranty”);

    

    WHEREAS,
      the Borrower has requested that the Bank agree to increase the amount of the
      Commitment and agree to certain other modifications of the Agreement;
      and

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    WHEREAS,
      the Bank is willing to increase the Commitment and modify the Agreement on
      the
      terms and conditions hereinafter set forth;

    

    NOW,
      THEREFORE, in consideration of the premises and the agreements hereinafter
      set
      forth and for other good and valuable consideration, the parties hereto agree
      as
      follows:

    

    1.  
As
      used
      in this Third Amendment capitalized terms, unless otherwise defined, shall
      have
      the meaning ascribed thereto in the Agreement.

    

    2.  
The
      Bank
      and the Borrower agree that the outstanding principal balance of the Loans
      evidenced by the Note is $5,000,000.00 and interest has been paid on all Prime
      Loans through April 30, 2007 and on all Libor Loans through the end of the
      applicable Interest Period.

    

    3.  
As
      an
      inducement for the Bank to enter into this Third Amendment, the Borrower hereby
      represents and warrants as follows:

    

    (A)  There
      are
      no defenses or offsets to its obligations under the Agreement, the Note or
      any
      of the other agreements in favor of the Bank referred to in the Agreement,
      and
      if any such defenses or offsets exist without the knowledge of the Borrower,
      the
      same are hereby waived.

    

    (B)  All
      the
      representations and warranties made by the Borrower in the Agreement are true
      and correct in all material respects as if made on the date hereof.

    

    4.  
Subject
      to the satisfaction of the conditions precedent set forth in Paragraph 9 hereof,
      the Borrower and the Bank hereby agree that the Agreement is amended as
      follows:

    

    (A) The
      definitions of “Borrowing Base”, “Guarantor”, “Loan Documents”, “Loans”,
“Notes”, “Subordinated Debt” and “Termination Date” appearing in Section 1.1 are
      amended by deleting same and substituting the following:

    

    “Borrowing
      Base”
      shall
      mean eighty (80%) percent of the Borrower’s Eligible Receivables which are not
      subject to a security interest in favor of a Person other than the Bank (other
      than security interests granted to the Debenture Holders for which the
      intercreditor provisions of the Subordination Agreement referred to in Section
      9(F) of the Third Amendment apply) except, that for the period from the
      effective date of entry into the Third Amendment to August 30, 2007, such
      percentage shall be increased to eighty-five (85%) percent in respect of such
      period.

    

    “Guarantor”
      shall
      mean individually or collectively the Individual Guarantors and/or the Corporate
      Guarantor.

     

    
      
         

      

      
        -
          2 -

        
          

        

      

      
         

      

    

    

    “Loan
      Documents”
shall
      mean this Agreement, the Notes, the Security Agreement, the Guarantees and
      each
      document, agreement and instrument executed in connection herewith or pursuant
      hereto.

    

    “Loans”
      shall
      mean, collectively, the Revolving Credit Loans and the Term Loan.

    

    “Notes”
      shall
      mean, collectively, the Revolving Credit Note and the Term Note.

    

    “Subordinated
      Debt”
shall
      mean the indebtedness subordinated pursuant to (a) subordination agreements
      which are satisfactory in all respects to the Bank and its counsel evidenced
      by
      the Corporate Guarantor’s $5,500,000 Secured Convertible Debenture dated April
      7, 2006 (the “Debentures”) payable to the parties named therein (the “Debenture
      Holders”) as increased to the principal amount of $6,498,733.33 pursuant to the
      first amendment to same (the “SD First Amendment”) and (b) subordination
      agreements which are satisfactory in all respects to the Bank and its counsel
      evidenced by any additional unsecured debt that may be issued by the Corporate
      Guarantor or any entity comprising the Borrower after the effective date of
      the
      Third Amendment.

    

    “Termination
      Date”
      shall
      mean February 29, 2008.”

    

    (B) The
      additional definitions of “Individual Guarantors”, “Corporate Guarantor”, “Term
      Loan” and “Term Note” and “Third Amendment” are added to Section 1.1 of the
      Agreement to read as follows:

     

    “Individual
      Guarantors”
      shall
      mean John V. Capotorto and Phillip Forman and any other natural Person who
      guarantees the Loans.

    

    “Corporate
      Guarantor”
      shall
      mean The Center for Wound Healing, Inc. and any other Person which guarantees
      the Loans other than the Individual Guarantors.

    

    “Term
      Loan”
      shall
      mean the loan made pursuant to Section 2.5.1 hereof.

    

    “Term
      Note”
      shall
      have the meaning ascribed in Section 2.5.2 hereof.

     

    
      
         

      

      
        -
          3 -

        
          

        

      

      
         

      

    

     

    “Third
      Amendment”
shall
      mean the Third Amendment and Waiver, dated as of May 29, 2007 to Amended and
      Restated Loan Agreement by and among the Borrower and the Bank.

    

    (C) Section
      2.1 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “2.1 Commitment.
      Subject
      to the terms and conditions hereof, and provided further that the Borrower
      is in
      compliance with Section 5.2(d) hereof, the Bank agrees to make loans to the
      Borrower (the “Revolving Credit Loans”) in an aggregate principal amount not to
      exceed the lesser of (i) (y) Five Million Five Hundred Thousand ($5,500,000.00)
      Dollars and, (z) after satisfaction of the conditions contained in Section
      7A(ii), (iii) and (iv) of the Debentures as amended by the SD First Amendment
      provided that payment required by such Section 7(A)(ii) is made from the
      proceeds of the sale of equity or the issuance of Subordinated Debt, Six Million
      and 00/100 ($6,000,000.00) Dollars or (ii) the Borrowing Base less the aggregate
      principal amount of the Term Loan (the “Commitment”). During the Commitment
      Period, the Borrower may use the Commitment by borrowing, paying and prepaying
      in whole or in part and reborrowing, all in accordance with the terms and
      conditions hereof. Each Revolving Credit Loan shall be in the minimum principal
      amount of Two Hundred Fifty Thousand and 00/100 ($250,000.00) Dollars with
      respect to LIBOR Loans or One Hundred Thousand and 00/100 ($100,000.00) Dollars
      with respect to Prime Loans. Each Revolving Credit Loan shall bear interest
      at a
      rate per annum to be elected by the Borrower pursuant to Section 2.4 hereof,
      and
      in the case of LIBOR Loans for the Interest Period specified, and continued
      or
      converted in accordance with the requirements of Section 2.13 hereof, equal
      to,
      for Prime Loans, the Prime Rate in effect from time to time or, for LIBOR Loans,
      for the Interest Period elected, at LIBOR plus 2.50%. If no LIBOR quotation
      is
      available pursuant to Section 2.11 or 2.12 hereof, the Revolving Credit Loans
      shall bear interest as Prime Loans.”

    

    (D) New
      Sections 2.5.1 and 2.5.2 are added to the Agreement to read as
      follows:

    

    “2.5.1 Term
      Loan:
      Subject
      to the terms and conditions hereof and provided that (a) no Default or Event
      of
      Default has occurred and is continuing, (b) all the conditions of Section 7A(ii)
      of the Debenture have been satisfied provided that any payment required by
      such
      Section of the Debenture is made from the proceeds of the sale of equity or
      the
      issuance of Subordinated Debt, (c) any prepayment required under Section 2.7
      hereof after taking into consideration the making of the Term Loan has been
      made
      and (d) the Borrower has executed and delivered the Term Note referred to in
      Section 2.5.2 hereof, the Bank agrees to make a term loan (the “Term Loan”) to
      the Borrower on satisfaction of the aforesaid conditions in the principal amount
      of $1,500,000. The Term Loan shall bear interest at a rate per annum equal
      to
      the Prime Rate plus 1%.

     

    
      
         

      

      
        -
          4 -

        
          

        

      

      
         

      

    

     

    2.5.2 Term
      Note:
      The
      Term Loan shall be evidenced by a promissory note of the Borrower substantially
      in the form of Exhibit A-2 hereto with appropriate insertions (the “Term Note”)
      payable to the order of the Bank and dated the date of the Term Loan. The
      principal amount of the Term Note shall be payable in seven (7) consecutive
      monthly installments of principal commencing on September 1, 2007 and continuing
      on the first day of each month thereafter, the first six (6) of which shall
      be
      in an amount equal to $33,333, and the final installment on March 1, 2008 which
      will be in the amount equal to the then unpaid principal balance together with
      interest. The Borrower will pay interest on the outstanding principal balance
      payable on the first day of each month commencing on the first day of the month
      following the satisfaction of the conditions to availability set forth in
      Section 2.5.1 hereof and continuing thereafter on the first day of each month
      until March 1, 2008 when the entire unpaid principal balance of the Term Note
      together with all interest accrued and unpaid shall be paid in full. Interest
      shall be computed on the basis of a 360 day year for actual days elapsed and
      shall be payable as provided in Section 2.8 hereof.”

    

    (E) Section
      2.6 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “2.6 Voluntary
      Payment.
      The
      Borrower may prepay any Prime Loan in whole or in part without premium or
      penalty; provided, however, that each partial prepayment shall be in an amount
      not less than $50,000. The Borrower may not prepay a LIBOR Loan prior to the
      last day of an Interest Period. Any partial prepayment of principal of the
      Term
      Loan shall be applied to the last maturing installments in inverse order of
      their respective maturities. Each prepayment shall be made together with payment
      of accrued interest on the amount prepaid to and including the date of
      prepayment.”

     

    
      
         

      

      
        -
          5 -

        
          

        

      

      
         

      

    

     

    (F) Section
      2.7 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “2.7 Mandatory
      Payment.
      The
      Borrower shall prepay the Revolving Credit Loans at any time that the aggregate
      outstanding principal amounts of Revolving Credit Loans and the Term Loan
      exceeds the Borrowing Base, in the amount of such excess. Such prepayment shall
      occur no later than five days following the date that the Bank received or
      should have received the Borrowing Base Certificate required by Section 5.2(d)
      hereof and such prepayment shall be applied first to reduce the Revolving Credit
      Loans and next to reduce the Term Loan and applied, in the case of the Term
      Loan, to the last maturing installments in inverse order of their respective
      maturities.”

    

    (G) Section
      2.14 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “2.14 Use
      of
      Proceeds.
      The
      proceeds of the Revolving Credit Loans shall be used to fund working capital
      needs of each entity comprising the Borrower and capital expenditures provided
      same are within the limitations of Section 7.7 hereof. The proceeds of the
      Term
      Loan will be used to fund completion of (or reimburse the Borrower or the
      Corporate Guarantor for funding of) build outs of various hyperbaric oxygen
      centers owned by certain of the Borrowers and related costs and
      expenses.”

    

    (H) A
      new
      Section 2.15 is added to the Agreement to read as follows:

    

    “2.15 Extension
      Fee.
      Although the Bank has no obligation to further extend the Termination Date,
      if
      the Bank, in its sole discretion, provides for such an extension, the Bank
      shall
      be entitled to be paid a fee of $100,000.00 simultaneously with the making
      of
      such extension of the Termination Date.

     

    
      
         

      

      
        -
          6 -

        
          

        

      

      
         

      

    

     

    (I) Section
      3.6 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “3.6 No
      Default.
      Except
      as set forth on Schedule-1 annexed hereto, the Borrower is not in default under
      or with respect to any Contractual Obligation in any respect which could
      reasonably be expected to be materially adverse to the business, operations,
      property or financial or other condition of the Borrower, or which could
      materially and adversely affect the ability of the Borrower to perform its
      obligations under this Agreement and the other Loan Documents to which it is
      a
      party. No Default or Event of Default has occurred and is
      continuing.”

    

    (J) Section
      3.12 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “3.12 Security
      Agreement. The
      Borrower owns and has full authority to pledge, assign and grant to the Bank
      a
      first priority security interest in the Collateral as set forth in the Security
      Agreement. The provisions of the Security Agreement are effective to create
      in
      favor of the Bank a legal, valid and enforceable security interest in all right,
      title and interest of the Borrower in the Collateral except as such
      enforceability may be limited by bankruptcy, insolvency, reorganization,
      moratorium or similar laws relating to or limiting creditors’ rights generally
      or by equitable principles relating to enforceability (where enforcement is
      sought by proceedings in equity or law). The financing statements which have
      been or will be filed in the offices of the Secretaries of State of the
      respective jurisdictions where each entity comprising the Borrower was formed
      under the names set forth therein and the Security Agreement constitute and
      create a fully perfected first priority security interest in all right, title
      and interest of the Borrower in the Collateral, superior in right to any other
      Liens, existing or future, which any Person may have against the Collateral.
      All
      of the foregoing representations specifically do not apply to the Borrowers
      listed on Schedule-1 annexed hereto to the extent that such entities have
      previously granted security interests to the Debenture Holders.”

     

    
      
         

      

      
        -
          7 -

        
          

        

      

      
         

      

    

     

    (K) Section
      5.2 of the Agreement is deleted and the following is substituted
      thereof:

    

    “5.2 Financial
      Information and Compliance Certificates.
      Furnish
      to the Bank:

    

    (a)
       (i)
      Except as specifically provided to the contrary in Section 5 of the Third
      Amendment, within 120 days of the close of each fiscal year of the Corporate
      Guarantor throughout the Commitment Period, consolidated and consolidating
      balance sheets, statements of income and retained earnings and statements of
      cash flows of the Corporate Guarantor as of the last day of and for such fiscal
      year, each such statement to be prepared in accordance with GAAP consistently
      applied and audited by Raich Ende Malter & Co., LLP or another firm of
      independent certified public accountants satisfactory to the Bank; (ii) Except
      as specifically provided to the contrary in Section 5 of the Third Amendment,
      within 45 days of the close of the first three quarters of each fiscal year
      throughout the Commitment Period commencing with the quarter ended June 30,
      2005, consolidated and consolidating balance sheets, statements of income and
      retained earnings and statements of cash flows of each Borrower as of the last
      day of such quarter and for the portion of the fiscal year then elapsed, each
      such statement to be prepared in accordance with GAAP consistently applied
      and
      compiled by Raich Ende Malter & Co., LLP or another firm of independent
      certified public accountants satisfactory to the Bank; and (iii) annually,
      and
      not later than April 30 of each year throughout the Commitment Period commencing
      April 30, 2005 the personal financial statements on the Bank’s standard form of
      each Individual Guarantor and, within fifteen (15) days of the filing thereof,
      personal tax returns of each Individual Guarantor.

    

    (b) At
      the
      same time as it delivers the financial statements called for by Section
      5.2(a)(i) and (ii), deliver a certificate of the chief financial officer of
      the
      Corporate Guarantor evidencing a computation of compliance with the provisions
      of Section 6 hereof and stating that in each case except as disclosed in such
      certificate, the person making such certificate has no knowledge of any Default
      or Event of Default. Together with their delivery of annual audited financial
      statements, the Borrower’s certified public accountant shall also deliver such a
      certificate, which shall be addressed to the Corporate Guarantor and the
      Bank.

    

    (c) At
      the
      time any officer of the Corporate Guarantor obtains knowledge of any Default,
      if
      such Default is then continuing, the Corporate Guarantor shall furnish to the
      Bank a certificate of the chief financial officer of the Borrower setting forth
      the details thereof and the action which the Borrower is taking or proposes
      to
      take with respect thereto.

    

    
      
         

      

      
        -
          8 -

        
          

        

      

      
         

      

       

    

    (d) By
      the
      (i) 25th day of each month for the months ended April, May and June 2007 and
      (ii) for each month thereafter, the 20th day of each month, furnish to the
      Bank
      a detailed accounts receivable aging report and Borrowing Base Certificate
      containing a Borrowing Base calculation in form and detail acceptable to the
      Bank.

    

    (e) The
      Borrower will cause the Corporate Guarantor to, with reasonable promptness,
      furnish such other data as may be reasonably requested by the Bank and will
      at
      all times and from time to time during business hours upon reasonable advance
      notice permit the Bank by or through any of its officers, agents, employees,
      attorneys or accountants to inspect and make extracts from such Corporate
      Guarantor’s books and records. Upon request of the Bank, the Borrower will cause
      the Corporate Guarantor to permit such access for the purpose of the conduct
      of
      field audits. The cost of any field audits shall be for the account of the
      Borrower.

    

    (f) For
      each
      financial statement or report specified in Section 5.2(a) and 5.2 (d) hereof
      not
      received by the Bank by the required date specified in such Section (the
“Delivery Date”), the Borrower shall pay the Bank a fee (the “Administrative
      Fee”) to compensate the Bank for its additional costs and administrative
      expenses associated with monitoring and insuring compliance with this subsection
      (f) hereof. The Administrative Fee shall be equal to the amount set forth in
      the
      table below for the corresponding date of delivery:

    
       

      
        
          	
                  # of days after the Delivery Date

                	 	
                  Administrative Fee

                	 
	
                  30-59

                	 	
                  $

                	
                  500.00

                	 
	
                  60-89

                	 	
                  $

                	
                  750.00

                	 
	
                  90
                    and more

                	 	
                  $

                	
                  1,500.00

                	 

        

      

       

    

    The
      Borrower shall receive a credit for any amount of any Administrative Fee paid
      by
      the Corporate Guarantor. The imposition of the Administrative Fee shall not
      be
      deemed a waiver by the Bank of the timely receipt of the required financial
      statements by the Delivery Date.”

     

    (L) A
      new
      Section 5.11 is added to the Agreement to read as follows:

    

    “5.11 Post-Closing
      Obligations.
      As soon
      as possible, but in any event within thirty (30) days after the Closing Date,
      the Borrower shall deliver to the Bank evidence satisfactory to the Bank of
      the
      completion of the publication requirements for the entities listed in Schedule-1
      annexed hereto.”

    

    
      
         

      

      
        -
          9 -

        
          

        

      

      
         

      

    

     

    (M) Section
      6
      of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “SECTION
      6. FINANCIAL
      COVENANTS

    

    The
      Borrower hereby agrees that, so long as the Commitment remains in effect, the
      Notes remain outstanding and unpaid, or any other amount is owing to the Bank
      hereunder, the Borrower will cause the Corporate Guarantor to maintain at all
      times (unless otherwise indicated below):

    

    6.1 Minimum
      Tangible Net Worth.
      A
      minimum Tangible Net Worth, as hereinafter defined, of at least the amount
      indicated as at the end of the corresponding quarterly period.

    
      

        
          	
                  Quarterly
                    Period

                	 	
                  Amount

                	 
	
                  6/30/07

                	 	
                  $

                	
                  9,000,000

                	 
	
                  9/30/07

                	 	
                  $

                	
                  9,000,000

                	 
	
                  12/31/07

                	 	
                  $

                	
                  9,500,000

                	 

        

      

       

    

    Tangible
      Net Worth means Total Assets inclusive of an add back of $5,381,000
      (representing the beneficial conversion factor for the Debentures) minus the
      sum
      of (i) Intangible Assets, and (ii) Total Liabilities other than Subordinated
      Debt; Total Assets means total assets determined in accordance with GAAP;
      Intangible Assets means assets that in accordance with GAAP are properly
      classifiable as intangible assets including, but not limited to goodwill,
      franchises, licenses, patents, trademarks, trade names, and copyrights and
“soft
      assets” such as assets due from officers, employees, stockholders, affiliates
      and related parties.

    

    6.2 Funded
      Debt to EBITDA Ratio.
      A
      maximum ratio of Funded Debt, as hereinafter defined to EBITDA, as hereinafter
      defined, of not more than 3.0 to 1.0 as at the end of each quarter, commencing
      September 30, 2007, for the annualized period then-ended and ended at each
      quarterly period thereafter. For the quarter ended September 30, 2007, EBITDA
      for such annualized period will be calculated by multiplying the September
      30,
      2007 quarterly EBITDA by four. For the quarter ended December 31, 2007, EBITDA
      for such annualized period will be calculated by multiplying the sum of
      September 30, 2007 quarterly EBITDA and December 31, 2007 quarterly EBITDA
      by
      two. Funded Debt means all Debt for borrowed money inclusive of Capitalized
      Lease Obligations but excluding Subordinated Debt. EBITDA means income from
      continuing operations before the payment of interest, taxes and option expenses,
      if any, plus depreciation and amortization determined in accordance with
      GAAP.

     

    
      
         

      

      
        -
          10 -

        
          

        

      

      
         

      

    

     

    Except
      as
      otherwise specified, all financial covenants shall be calculated in accordance
      with GAAP consistently applied.”

    

    (N) Section
      7.1 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “7.1 Indebtedness
      for Borrowed Money.
      Incur,
      or permit to exist, any indebtedness for borrowed money except (i) indebtedness
      incurred pursuant to borrowings hereunder and under any other loans made by
      the
      Bank in its discretion to the Borrower, (ii) indebtedness existing on the date
      hereof and reflected in the financial statements referred to in Section 3.1
      hereof or on Schedule-1 attached hereto, (iii) indebtedness constituting
      Subordinated Debt, (iv) indebtedness under Capitalized Lease Obligations or
      secured by purchase money liens and security interests permitted by Section
      7.4
      (iv) hereof not to exceed $3,000,000.00 in the aggregate for the fiscal year
      ended June 30, 2007, without the prior written consent of the Bank, provided
      that the incurrence of the foregoing indebtedness does not result in the breach
      of any covenant contained in Section 6 hereof, provided however, that
      notwithstanding anything to the contrary in this Agreement, there shall be
      no
      restriction on the issuance of equity securities by the Corporate Guarantor
      and/or any entity comprising the Borrower as long as there is no violation
      of
      Section 7.14 hereof.”

     

    
      
         

      

      
        -
          11 -

        
          

        

      

      
         

      

    

     

    (O) Section
      7.4 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “7.4 Liens.
      Create,
      assume or permit to exist, any Lien on any of its property or assets now owned
      or hereafter acquired except (i) Liens in favor of the Bank; (ii) other Liens
      incidental to the conduct of its business or the ownership of its property
      and
      assets which were not incurred in connection with the borrowing of money or
      the
      obtaining of advances or credit and which do not materially impair the use
      thereof in the operation of its business; (iii) Liens for taxes or other
      governmental charges which are not delinquent or which are being contested
      in
      good faith and for which a reserve shall have been established in accordance
      with GAAP; (iv) purchase money liens or security interests in equipment
      hereafter acquired or a lien or security interest incurred in connection with
      any Capitalized Lease Obligation not exceeding the limit set forth in Section
      7.1 (iv) hereof; (v) liens, pledges or deposits under workers’ compensation,
      unemployment insurance, social security or similar legislation or to secure
      public or statutory obligations, surety, stay, appeal, performance or other
      similar bonds or obligations arising in the ordinary course of business; and
      (vi) liens in favor of the Debenture Holders as enumerated in the Subordination
      Agreement referred to in Section 9(F) of the Third Amendment.”

    

    (P) Section
      7.5 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “7.5 Contingent
      Liabilities.
      Assume,
      endorse, be or become liable for or guarantee the obligations of any Person
      (collectively, “Contingent Liabilities”) except the endorsement of negotiable
      instruments for deposit or collection in the ordinary course of business and
      the
      Subordinated Debt.”

    

    (Q) Section
      7.7 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “7.7 Capital
      Expenditures.
      Expend
      in the aggregate for the Borrower in excess of $2,500,000.00 for the fiscal
      year
      ended June 30, 2007, for capital expenditures without the prior written consent
      of the Bank.”

    

    
      
         

      

      
        -
          12 -

        
          

        

      

      
         

      

    

     

    (R) Section
      7.11 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “7.11 Transactions
      with Affiliates.
      Directly or indirectly purchase, acquire or lease any property from, or sell,
      transfer or lease any property to, or enter into any other transaction, with
      any
      Affiliate except in the ordinary course of business pursuant to the reasonable
      requirements of the Borrower’s business and at prices and on terms not less
      favorable to it than those which would have been obtained in an arm’s-length
      transaction with a non-affiliated third party, provided however, this Section
      shall not be deemed to prohibit any Borrower or the Corporate Guarantor from
      transferring property to: (i) another Borrower, (ii) the Corporate Guarantor,
      or
      (iii) an Affiliate organized or acquired after the date of this Agreement,
      provided that in the case of a transfer to such an Affiliate any such Affiliate
      has fully complied with the requirements of Section 5.10 hereof to the
      satisfaction of the Bank prior to or simultaneously with any such
      transfer.”

    

    (S) Section
      7.12 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “7.12 Distributions
      and Purchase of Interests.
      Make
      any distributions either in cash or property (other than distributions payable
      in membership interests of the Borrower) prior to the Termination Date on any
      of
      its membership interests or apply any of its property or assets to the purchase,
      redemption or other retirement of, or set apart any sum for the payment of
      any
      distributions on, or the purchase, redemption or other retirement of, or make
      any other distribution by reduction of capital or otherwise in respect of any
      membership interests of the Borrower, except the Borrower may pay cash
      distributions out of net income for the following (collectively, the “Permitted
      Payments”) (a) to the Corporate Guarantor; and (b) for the sole purpose of
      paying the actual annual federal, state and local income tax liabilities, if
      any, of each minority member of a Borrower listed in Schedule-1 which are
      required to be paid by such member (in respect of the profit of such Borrower),
      provided that such distributions shall be no more than required to cover such
      tax liabilities as detailed in a calculation prepared by the Borrower and
      submitted to the Bank for approval at least ten (10) days prior to the making
      of
      such distribution; and (c) upon the dissolution or cessation of the business
      of
      any Borrower, to the minority members of such Borrower in respect of each such
      member’s accrued earnings that have not previously been distributed to them; and
      (d) provided
      further,
      however,
      that
      the making of any Permitted Payments specified in clause (b) and (c)
      individually or in the aggregate shall not result in a breach of any covenant
      contained in Section 6 hereof.”

    

    
      
         

      

      
        -
          13 -

        
          

        

      

      
         

      

    

     

    (T) Section
      7.13 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “7.13 No
      Lien Senior to or Equal to Loan Documents.
      Create
      or cause to be created any lien or charge on any property subject to the
      security interest of the Loan Documents which is superior or equal to the liens
      or security interests of the Loan Documents except liens in favor of the
      Debenture Holders as enumerated in the Subordination Agreement referred to
      in
      Section 9(F) of the Third Amendment.”

    

    (U) Section
      7.14 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “7.14 Change
      of Control.
      Without
      the prior written consent of the Bank, suffer or permit a Change of Control
      Transaction, as hereinafter defined. Change of Control Transaction means the
      occurrence after the date hereof of any of the following:

    (a) With
      respect to the Corporate Guarantor: (i) an acquisition after the date hereof
      by
      an individual or legal entity or “group” (as described in Rule 13d-5(b)(1)
      promulgated under the Exchange Act) of effective control (whether through legal
      or beneficial ownership of capital stock of the Corporate Guarantor, by contract
      or otherwise) of in excess of 40% of the voting securities of the Corporate
      Guarantor (other than by means of conversion or exercise of the Debentures
      and
      the Securities issued together with the Debentures), or (ii) the Corporate
      Guarantor merges into or consolidates with any other Person, or any Person
      merges into or consolidates with the Corporate Guarantor and, after giving
      effect to such transaction, the stockholders of the Corporate Guarantor
      immediately prior to such transaction own less than 60% of the aggregate voting
      power of the Corporate Guarantor or the successor entity of such transaction,
      or
      (iii) the Corporate Guarantor sells or transfers all or substantially all of
      its
      assets to another Person and the stockholders of the Corporate Guarantor
      immediately prior to such transaction own less than 60% of the aggregate voting
      power of the acquiring entity immediately after the transaction, or (iv) a
      replacement at one time or within a two year period of more than one-half of
      the
      members of the Corporate Guarantor’s board of directors which is not approved by
      a majority of those individuals who are members of the board of directors on
      the
      date hereof (or by those individuals who are serving as members of the board
      of
      directors on any date whose nomination to the board of directors was approved
      by
      a majority of the members of the board of directors who are members on the
      date
      hereof), or (v) the execution by the Corporate Guarantor of an agreement to
      which the Corporate Guarantor is a party or by which it is bound, providing
      for
      any of the events set forth in clauses (i) through (iv) above.

     

    
      
         

      

      
        -
          14 -

        
          

        

      

      
         

      

    

     

    (b) With
      respect to the Borrower: the failure of the Corporate Guarantor to own all
      of
      the ownership interests in the Borrower other than minority interests referred
      to in Section 7.12 of Schedule-1 attached hereto.

    

    (c) With
      respect to clauses (a) and (b) hereof, the taking of any of the actions in
      connection with Sections 7(A)(i) or 7(b)(i) of the Debenture or Section 4(d)
      of
      the SD First Amendment by the Debenture Holders will not be deemed a violation
      of this covenant provided the Borrower is in compliance with Section 7.15
      hereof.”

    

    (V) Section
      7.15 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “7.15 Change
      in Management.
      Suffer
      or permit Andrew G. Barnett not to be active as chief executive officer of
      the
      Borrower and the Corporate Guarantor on substantially a full time
      basis.”

    

    (W) Section
      8(a) of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “(a) The
      Borrower shall fail to pay any interest on or principal of a Note on the due
      date therefor or shall fail to pay any other amount payable hereunder within
      ten
      (10) days of the due date therefor or five (5) days in the case of a prepayment
      required pursuant to Section 2.7 hereof; or”

     

    (X) Section
      8(e) of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “(e) The
      Borrower or any Guarantor shall (i) default in any payment of any indebtedness
      for borrowed money owing to the Bank (other than the Note), or other
      indebtedness in excess of the principal amount of $50,000.00, inclusive of
      the
      Subordinated Debt held by the Debenture Holders, beyond the period of grace,
      if
      any, provided in the instrument or agreement under which such indebtedness
      was
      created; or (ii) default in the observance or performance of any other agreement
      or condition relating to any such indebtedness or contained in any instrument
      or
      agreement evidencing, securing or relating thereto or any other event shall
      occur or condition exist, in each case the effect of which default or other
      event or condition is to cause or permit the holder or holders of such
      indebtedness (or a trustee or agent on behalf of such holder or holders) to
      cause such indebtedness to become due prior to its stated maturity;
      or”

     

    
      
         

      

      
        -
          15 -

        
          

        

      

      
         

      

    

     

    (Y) Section
      8(l) of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “(l) if
      any
      Individual Guarantor dies or is judicially declared incompetent provided,
      however,
      death
      will not be deemed an Event of Default hereunder if the decedent Individual
      Guarantor has at least $2,500,000.00 of life insurance that has been
      collaterally assigned to the Bank on forms satisfactory to the Bank and its
      counsel; or”

    

    (Z) Section
      9.2 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “9.2 Additional
      Collateral Security.
      In
      addition to the collateral described in Section 9.1 hereof, payment of the
      Obligations is also secured by (i) a first priority security interest in the
      property of the Borrower and the Corporate Guarantor described in the Security
      Agreement whether now owned or hereafter acquired, as provided in the Security
      Agreement, (ii) a collateral assignment of life insurance in the minimum amount
      of $7,500,000.00 on the life of Andrew G. Barnett which will be delivered to
      the
      Bank within forty-five (45) days of the date of this Third Amendment and (iii)
      at the option of the Borrower, collateral assignment(s) of life insurance in
      the
      minimum amount of $2,500,000.00 on the life of either or both Individual
      Guarantors (the foregoing, together with the collateral described in Section
      9.1
      hereof, the “Collateral”).”

     

    (AA) Section
      10.1 of the Agreement is amended by deleting same and substituting the following
      therefor:

    

    “10.1 Notices.
      All
      notices, requests and demands to or upon the respective parties hereto to be
      effective shall be in writing unless otherwise expressly provided herein and
      shall be deemed to have been duly given or made when delivered by hand, or
      by
      telegram or telecopy, or when deposited in the mail addressed as follows, or
      to
      such address as may be hereafter notified in writing by the respective parties
      hereto and any future holders of the Note:

     

    
      
         

      

      
        -
          16 -

        
          

        

      

      
         

      

    

    

      
        	
                The
                  Borrower:

              	
                The
                  Center for Wound Healing, Inc.

              
	 	
                517
                  Route 1 South,

              
	 	
                Iselin,
                  New Jersey 08830

              
	 	
                Attn:
                   Mr. Andrew G. Barnett

              
	 	
                           
                  Chief Executive Officer

              
	 	 
	
                The
                  Bank:

              	
                Signature
                  Bank

              
	 	
                1225
                  Franklin Avenue

              
	 	
                Garden
                  City, New York 11530

              
	 	
                Attn: 
                  Ms. Lori Cabana

              
	 	
                           
                  Vice President”

              

      

    

    

    (BB) To
      conform to the amendments to Section 2.1 of the Agreement, Exhibit A, the
      Revolving Credit Note, is replaced and superceded by Exhibit A-1, the Amended
      and Restated Revolving Credit Note, attached hereto and made a part
      hereof.

    

    (CC) To
      conform to the amendment of the definition of Borrowing Base, Exhibit B is
      replaced and superceded by Exhibit B-1 attached hereto and made a part
      hereof.

    

    (DD) The
      Schedule to the Agreement is amended by deleting same and replacing same with
      Schedule-1 annexed hereto.

    

    5.  (A)Non-compliance
      by the Borrower with Section 5.2(a)(ii) of the Agreement is hereby waived by
      the
      Bank for the periods provided for below:

    

    (i) For
      the
      quarter ended September 30, 2006 provided such quarterly financials are
      delivered by June 30, 2007;

    

    (ii) For
      the
      fiscal year ended June 30, 2006 provided such annual financials are delivered
      by
      June 30, 2007;

     

    (iii) For
      the
      quarter ended December 31, 2006 provided such quarterly financials are delivered
      by July 31, 2007; and

    

    (iv) For
      the
      quarter ended March 31, 2007 provided such quarterly financials are delivered
      by
      August 31, 2007.

    

    (B) Non-compliance
      by the Borrower with Section 5.7 of the Agreement is hereby waived by the Bank
      with respect to the litigation and disputes enumerated in Sections 3.5 and
      3.6
      of Schedule-1 hereto.

    

    (C) Non-compliance
      by the Borrower with Section 5.10 of the Agreement is hereby waived by the
      Bank
      with respect to the Additional Borrowers enumerated in the second “WHEREAS”
clause of the Third Amendment.

     

    
      
         

      

      
        -
          17 -

        
          

        

      

      
         

      

    

     

    Borrower
      acknowledges that the foregoing waivers are based on the specific facts thereof
      and the foregoing condition regarding the lack of an Event of Default and if
      either the facts underlying such waivers or an Event of Default subsequently
      occurs, the grant of such waivers will be of no further force or effect and
      the
      Bank will be entitled to full enforcement of all the remedies provided for
      under
      the foregoing Agreement with respect to the Events of Default for which such
      waivers have been conditionally granted.

    

    6.  It
      is
      expressly understood and agreed that all collateral security for the Loans
      set
      forth in the Agreement prior to the amendment provided for herein, is and shall
      continue to be collateral security for the Loans and other extensions of credit
      provided under the Agreement as herein modified. Without limiting the generality
      of the foregoing, the Borrower hereby absolutely and unconditionally confirms
      that each document and instrument executed by the Borrower pursuant to the
      Agreement continues in full force and effect, is ratified and confirmed and
      is
      and shall continue to be applicable to the Agreement (as herein
      amended).

    

    7.  By
      their
      execution of this letter in the space provided below, the Guarantors hereby
      consent to this amendment and reaffirm their continuing liability under their
      guarantees in respect of the Agreement, as amended hereby, and all documents,
      instruments and agreements executed pursuant thereto or in connection therewith,
      without offset, defense or counterclaim (any such offset, defense or
      counterclaim as may exist being hereby irrevocably waived by the
      Guarantors).

    

    8.  The
      amendment and waiver set forth herein is limited precisely as written and shall
      not be deemed (except as the Agreement is herein modified) to (a) be a consent
      to or a waiver of any term or condition of the Agreement or any of the documents
      referred to therein, or (b) prejudice any right or rights which the Bank may
      now
      have or may have in the future under or in connection with the Agreement or
      any
      documents referred to therein. Whenever the Agreement is referred to in the
      Agreement or any of the instruments, agreements or other documents or papers
      executed and delivered in connection therewith, it shall be deemed to mean
      the
      Agreement (as the case may be) as amended hereby.

     

    9.  This
      Third Amendment shall become effective on such date as all of the following
      conditions have been satisfied: 

    

    (A) Borrower
      Authorization.
      The
      Bank shall have received certified copies of all corporate action (in form
      and
      substance satisfactory to the Bank) taken by the Borrower to authorize the
      execution, delivery and performance of this Third Amendment and the borrowings
      to be made under the Agreement, together with the Borrower’s updated officers’
certificate;

    

    (B) Note.
      The
      Bank shall have received the Amended and Restated Revolving Credit Note in
      the
      form of Exhibit A-1 conforming to the requirements hereof and duly executed
      by
      the Borrower.

    

    (C) Guarantee.
      The
      Bank shall have received the Guarantee executed by the Corporate Guarantor
      on
      the Bank’s standard form with such modifications as shall have been agreed to by
      the Bank and the Bank’s counsel.

     

    
      
         

      

      
        -
          18 -

        
          

        

      

      
         

      

    

     

    (D) Reaffirmations
      and Acknowledgments and Amendment to the Amended and Restated Continuing
      Guaranty of Individual Guarantors.
      The
      Bank shall have received the Reaffirmations and Acknowledgments and Amendment
      to
      the Amended and Restated Continuing Guaranty of Individual Guarantors’
guarantees on the Bank’s standard form duly executed by the Individual
      Guarantors.

    

    (E) Security
      Agreements.
      The
      Bank shall have received the Amended and Restated Security Agreement duly
      executed by the Additional Borrowers and the Security Agreement duly executed
      by
      the Corporate Guarantor on the Bank’s standard form with such modifications as
      shall have been agreed to by the Bank and Bank’s counsel, together with UCC-1
      financing statements, UCC-3 termination statements or amendments (if required),
      UCC searches and security agreement questionnaires.

    

    (F) Subordination
      Agreement.
      The
      Bank shall have received from the parties thereto and the Corporate Guarantor
      the amended and restated Subordination Agreement satisfactory in all respects
      to
      the Bank and its counsel.

    

    (G) LLC
      Documents.
      The
      Bank shall have received a members ‘ certificate/officers’ certificate of the
      additional Borrowers certifying as to each entity comprising the Additional
      Borrower’s articles of formation, operating agreement, incumbency and consents
      and the Corporate Guarantor’s certificate of incorporation, bylaws, and
      resolutions.

    

    (H) Good
      Standing Certificate.
      The
      Bank shall have received a good standing and qualification certificate(s) for
      the Additional Borrower and the Corporate Guarantor from the states of
      organization and the states where said Persons are doing business.

    

    (I) Opinion
      of Counsel.
      The
      Bank shall have received an opinion of counsel to the Borrower and the Corporate
      Guarantor in form and detail reasonably acceptable to the Bank and its
      counsel.

     

    (J) Additional
      Matters.
      All
      other documents and legal matters in connection with the transactions
      contemplated by this Agreement shall be satisfactory in form and substance
      to
      the Bank and its counsel.

    

    (K) Fees.
      The
      Bank shall have received evidence of payment of the $50,000.00 due the Bank
      consisting of a $25,000.00 origination fee and $25,000.00 waiver fee and the
      fees and disbursements of the Bank’s counsel.

    

    (L) Approval
      of the Bank’s Counsel.
      All
      legal matters incident to this Third Amendment shall be satisfactory to counsel
      to the Bank.

     

    
      
         

      

      
        -
          19 -

        
          

        

      

      
         

      

    

     

    10.  This
      Third Amendment is dated for convenience as of May 29, 2007 and shall be
      effective on the date of execution by the Bank retroactive to May 2,
      2007.

    

    11.  Except
      as
      hereby amended the said agreement dated as of June 17, 2005 as amended by the
      First Amendment dated as of April 7, 2006 and the Second Amendment dated as
      of
      February 1, 2007 is in all respects ratified and confirmed.

     

    
      
         

      

      
        -
          20 -

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF, the parties hereto have caused this Third Amendment to be
      executed by their duly authorized officers as of the date first written
      above.

    

    Borrower:

    NY
      HYPERBARIC, LLC 

    FOREST
      HILLS HYPERBARIC, LLC

    SCRANTON
      HYPERBARIC LLC 

    JFK
      HYPERBARIC LLC 

    TRENTON
      HYPERBARIC, LLC

    NEWARK
      BI
      LLC 

    PASSAIC
      HYPERBARIC, LLC

    ST
      JOSEPHS HYPERBARIC LLC

    GREATER
      BRONX HYPERBARIC LLC 

    (f/k/a
      MONTEFIORE HYPERBARIC LLC) 

    ELISE
      KING, LLC

    SOUTH
      NASSAU HYPERBARIC LLC

    NEW
      YORK
      HYPERBARIC AND

    WOUND
      CARE CENTERS LLC (DEL)

    NEW
      YORK
      HYPERBARIC AND 

    WOUND
      CARE CENTERS, L.L.C. (N.Y.)

    VB
      HYPERBARIC, LLC 

    EIN
      HYPERBARIC LLC 

    MAIMONIDES
      HYPERBARIC, LLC 

    THE
      SQUARE HYPERBARIC, LLC 

    SOUTH
      N
      HYPERBARIC LLC 

    MUHLENBERG
      HYPERBARIC LLC 

    LOWELL
      HYPERBARIC LLC

    THE
      CENTER FOR WOUND HEALING I, LLC

    (f/k/a
      MODERN MEDICAL, LLC)

    THE
      CENTER FOR WOUND HEALING II, LLC

    (f/k/a
      MODERN MEDICAL SPECIALTIES, LLC)

    NJ
      HYPERBARIC, LLC

    FAR
      ROCKAWAY HYPERBARIC, LLC

    ATLANTIC
      HYPERBARIC, LLC

    ATLANTIC
      ASSOCIATES, LLC

    CEF
      PRODUCTS, LLC

    CMC
      HYPERBARIC, LLC

    PENNSYLVANIA
      HYPERBARIC, LLC

    HYBERBARIC,
      LLC

    (a/k/a
      MASSACHUSETTS HYPERBARIC, LLC)

    MEADOWLANDS
      HYPERBARIC, LLC

    by
      their
      managers/members

    THE
      CENTER FOR WOUND HEALING, INC.

    

      
        	
                By:

              	 
	 	
                Andrew
                  G. Barnett

              
	 	Chief
                Executive Officer

      

    

         
      

    
      
         

      

      
        -
          21 -

        
          

        

      

      
         

      

    

     

    
      
        	
                Bank:

                SIGNATURE
                  BANK

              
	 	 
	
                By:

              	 
	 	
                Lori
                  Cabana

                Vice
                  President

              

      

       

      
        
           

        

        
          -
            22 -

          
            

          

        

        
           

        

      

    

     

    State
      of New York, County of________________, ss:

    

    On
      the
      _____ day of May, in the year 2007, before me the undersigned, personally
      appeared ANDREW
      G.
      BARNETT,
      personally known to me or proved to me on the basis of satisfactory evidence
      to
      be the individual whose name is subscribed to the within instrument and
      acknowledged to me that he executed the same in his capacity, and that by his
      signature on the instrument, the individual or the person upon behalf of which
      the individual acted, executed the instrument.

     

     

    
      
        	 	 
	 	
                Notary
                  Public

              

      

       

      
        
           

        

        
          -
            23 -

          
            

          

        

        
           

        

      

    

    SCHEDULE-1

     

    SCHEDULE
      3.5

    Pending
      Litigations

     

      
        	
                Case Caption

              	 	
                Case No.

              	 	
                Court

              	 	
                Nature of

                Action

              	 
	
                Warantz
                  Healthcare Group v. CFWH

              	 	
                07-05247

              	 	
                Nassau
                  Supreme Court

              	 	
                Breach
                  of Contract

              	 
	
                Premium
                  Builders, Inc. v. Pennsylvania Hyperbaric, LLC

              	 	
                6659-C
                  of 2006

              	 	
                Court
                  of Common Pleas, Luzerne County (PA)

              	 	
                Breach
                  of Contract

              	 
	
                Sky
                  Hyperbaric Equipment Company, Inc. v. New York Hyperbaric & Wound Care
                  Centers LLC

              	 	
                16066/06

              	 	
                Westchester
                  Supreme Court

              	 	
                Breach
                  of Contract

              	 

      

    

    

    SCHEDULE
      3.6

    Disputed
      Contractual Obligations 

    
      

        
          	
                  Party

                	 	
                  Nature of Dispute

                	 
	
                  Med-Air
                    Consultants, Inc.

                	 	
                  Breach
                    of Contract

                	 
	
                  Advantage
                    Healthcare Solutions (“AHS”)

                	 	
                  Breach
                    of Contract

                	 
	
                  Grace
                    Consulting

                  (Andrew
                    Anello)

                	 	
                  Breach
                    of Contract

                	 

        

      

    

    

    
      
         

      

      
        Schedule-1

        
          

        

      

      
         

      

    

    SCHEDULE
      3.10 (f)

    Environmental
      Complaint

    

    NONE

    

    SCHEDULE
      3.11

    List
      of Permits, Licenses, Authorizations, Approvals and Governmental
      Consents

    

    NONE

    

    SCHEDULE
      3.12

    Debenture
      Holders UCC Filings

    

      
        	
                Entity

              	 	
                Date

              	 	
                File
                  No.

              	 
	
                The
                  Center for Wound Healing, Inc. (Corporate Guarantor)

              	 	
                4/7/2006

              	 	
                2006011019-6

              	 
	
                Hyperbaric,
                  LLC (f/k/a Massachusetts Hyperbaric, LLC)

              	 	
                4/10/2006

              	 	
                200647078710

              	 
	
                Meadowlands
                  Hyperbaric, LLC

              	 	
                4/10/2006

              	 	
                2353266-3

              	 
	
                NJ
                  Hyperbaric LLC

              	 	
                4/10/2006

              	 	
                2353266-3

              	 
	
                Pennsylvania
                  Hyperbaric, LLC

              	 	
                4/13/2006

              	 	
                2006041700247

              	 
	
                CMC
                  Hyperbaric, LLC

              	 	
                4/13/2006

              	 	
                2006041700247

              	 

      

    

    

    SCHEDULE
      5.11

    New
      York Entities Not in Compliance with Publication
      Requirements

    

      
        	
                Entity

              	 	
                Status

              	 
	
                Far
                  Rockaway Hyperbaric, LLC

              	 	
                Publication
                  in process

              	 
	
                Atlantic
                  Hyperbaric, LLC

              	 	
                Publication
                  in process

              	 
	
                CEF
                  Products, LLC

              	 	
                Publication
                  in process

              	 
	
                The
                  Center For Wound Healing II, LLC

              	 	
                Publication
                  in process

              	 

      

       

      
        
           

        

        
          Schedule-1

          
            

          

        

        
           

        

      

    

    

    SCHEDULE
      7.4

    Permitted
      Liens

    

    NONE

    

    SCHEDULE
      7.12 (c) 

    Schedule
      of Ownership by Minority Members

    

       

        
          	
                  Borrower

                	 	
                  Minority Members’

                  Ownership %

                	 
	
                  New
                    York Hyperbaric and Wound Care Centers, LLC

                	 	 	
                  11.25

                	
                  %

                
	
                  Lowell
                    Hyperbaric, LLC

                	 	 	
                  25

                	
                  %

                
	
                  JFK
                    Hyperbaric, LLC

                	 	 	
                  7.5

                	
                  %

                
	
                  Muhlenberg
                    Hyperbaric, LLC

                	 	 	
                  28

                	
                  %

                
	
                  Newark
                    BI, LLC

                	 	 	
                  25

                	
                  %

                
	
                  Passaic
                    Hyperbaric, LLC

                	 	 	
                  9.375

                	
                  %

                
	
                  Trenton
                    Hyperbaric, LLC

                	 	 	
                  24

                	
                  %

                
	
                  CEF
                    Products, LLC

                	 	 	
                  20

                	
                  %

                
	
                  Forest
                    Hills Hyperbaric, LLC

                	 	 	
                  30

                	
                  %

                
	
                  Greater
                    Bronx Hyperbaric, LLC

                	 	 	
                  10

                	
                  %

                
	
                  Maimonides
                    Hyperbaric, LLC

                	 	 	
                  17

                	
                  %

                
	
                  NY
                    Hyperbaric, LLC

                	 	 	
                  30

                	
                  %

                
	
                  St.
                    Johns Hyperbaric

                	 	 	
                  20

                	
                  %

                
	
                  South
                    N Hyperbaric, LLC

                	 	 	
                  20

                	
                  %

                
	
                  South
                    Nassau LLC

                	 	 	
                  14.37

                	
                  %

                
	
                  The
                    Square Hyperbaric, LLC

                	 	 	
                  21.875

                	
                  %

                
	
                  Scranton
                    Hyperbaric, LLC

                	 	 	
                  9

                	
                  %

                

        

      

    

     

    
      
         

      

      
        Schedule-1

        
          

        

      

      
         

      

    

     

    EXHIBIT
      A-1

    AMENDED
      AND RESTATED REVOLVING CREDIT NOTE

     

    
      
        
          	
                  $6,000,000.00

                	
                  Garden
                    City, New York

                	
                  May
                    29, 2007

                

        

      

       

    

    NY
      Hyperbaric, LLC, a New York limited liability company, Forest Hills Hyperbaric,
      LLC, a New York limited liability company, Scranton Hyperbaric LLC, a
      Pennsylvania limited liability company, JFK Hyperbaric LLC, a New Jersey limited
      liability company, Trenton Hyperbaric, LLC, a New Jersey limited liability
      company, Newark BI LLC, a New Jersey limited liability company, Passaic
      Hyperbaric, LLC, a New York limited liability company, St Josephs Hyperbaric
      LLC, a New York limited liability company, Greater Bronx Hyperbaric LLC (f/k/a
      Montefiore Hyperbaric LLC), a New York limited liability company, Elise King,
      LLC, a New York limited liability company, South Nassau Hyperbaric, LLC a New
      York limited liability company, New York Hyperbaric and Wound Care Centers
      LLC,
      a Delaware limited liability company, New York Hyperbaric and Wound Care
      Centers, L.L.C., a New York limited liability company, VB Hyperbaric, LLC,
      a New
      York limited liability company, EIN Hyperbaric LLC, a New York limited liability
      company, Maimonides Hyperbaric, LLC, a New York limited liability company,
      The
      Square Hyperbaric, LLC, a New York limited liability company, South N Hyperbaric
      LLC, a New York limited liability company, Muhlenberg Hyperbaric LLC, a New
      Jersey limited liability company, Lowell Hyperbaric LLC, a Massachusetts limited
      liability company, The Center for Wound Healing I, LLC (f/k/a Modern Medical,
      LLC), a New Jersey limited liability company, The Center for Wound Healing
      II,
      LLC, (f/k/a Modern Medical Specialties, LLC), a New York limited liability
      company, NJ Hyperbaric, LLC, a New Jersey limited liability company, Far
      Rockaway Hyperbaric, LLC, a New York limited liability company, Atlantic
      Hyperbaric, LLC, a New York limited liability company, Atlantic Associates,
      LLC,
      a Delaware limited liability company, CEF Products, LLC, a New York limited
      liability company, CMC Hyperbaric, LLC, a Pennsylvania limited liability
      company, Pennsylvania Hyperbaric, LLC, a Pennsylvania limited liability company,
      Hyperbaric, LLC (a/k/a Massachusetts Hyperbaric, LLC), a Massachusetts limited
      liability company and Meadowlands Hyperbaric, LLC, a New Jersey limited
      liability company (collectively, the “Borrower”), for value received, hereby
      promises to pay to the order of SIGNATURE BANK (the “Bank”) at the office of the
      Bank specified in Section 10.1 of the Loan Agreement dated as of June 17, 2005,
      between the Borrower and the Bank, as amended from time to time (as so amended
      the “Agreement”; terms defined in the Agreement shall have their defined
      meanings when used in this Note), in lawful money of the United States of
      America and in immediately available funds the principal amount of SIX MILLION
      AND 00/100 ($6,000,000.00) DOLLARS payable on the Termination Date, or, if
      less
      than such principal amount, the aggregate unpaid principal amount of all Loans
      made by the Bank to the Borrower pursuant to Section 2.1 of the Agreement.
      The
      Borrower further promises to pay interest at said office in like money on the
      unpaid principal balance of this Note from time to time outstanding at the
      rate
      per annum set forth in Section 2 of the Agreement. Interest shall be computed
      on
      the basis of a 360-day year for actual days elapsed and shall be payable monthly
      as provided in the Agreement. All Loans made by the Bank pursuant to Section
      2.1
      of the Agreement and payments of the principal thereon may be endorsed by the
      holder of this Note on the schedule annexed hereto, to which the holder may
      add
      additional pages. The aggregate net unpaid amount of Loans set forth in such
      schedule shall be presumed to be the principal balance hereof. After the stated
      or any accelerated maturity hereof, this Note shall bear interest at a rate
      as
      set forth in the Agreement, payable on demand, but in no event in excess of
      the
      maximum rate of interest permitted under applicable law. All payments shall
      be
      made by automatic debit from an account maintained at the Bank in which Borrower
      shall maintain balances sufficient to pay the monthly payments (Account
      #1500405208).

     

    
      
         

      

      
        
          Exhibit
            A-1/Page 1

        

        
          

        

      

      
         

      

    

     

    This
      Note
      is the Amended and Restated Revolving Credit Note referred to in the Agreement,
      and is entitled to the benefits thereof and may be prepaid, and is required
      to
      be prepaid, in whole or in part as provided therein. This Amended and Restated
      Revolving Credit Note is secured by the collateral described in the Agreement,
      including the collateral set forth in the Security Agreement.

    

    The
      joint
      and several obligations of each Borrower under this Note shall be absolute
      and
      unconditional and shall remain in full force and effect until the entire
      principal, interest, penalties, premiums and late charges, if any, on this
      Note
      and all additional payments, if any, due pursuant to any other Loan Document
      (collectively, the “Obligations”) shall have been paid. There being more than
      one Borrower, the following provisions shall apply: (a) Each Borrower agrees
      that it is jointly and severally, directly, and primarily liable to Bank for
      payment in full of the Obligations and that such obligation is independent
      of
      the duties, obligations, and liability of each and all of the other joint and
      several Borrowers. Bank may bring a separate action or actions on the
      Obligations against each, any, or all of the Borrowers, whether action is
      brought against any other or all of such Borrowers or any one or more of the
      Borrowers is or is not joined therein; (b) Each Borrower agrees that any release
      that may be given by Bank to any one or more of the Borrowers or any guarantor
      of the Obligations shall not release any other Borrower from its Obligations
      hereunder; (c) Each Borrower hereby waives any right to assert against Bank
      any
      defense (legal or equitable), setoff, counterclaim, or claims that such Borrower
      individually may now or any time hereafter have against another Borrower or
      any
      other party liable to Bank in any manner or way whatsoever; (d) Any and all
      present and future debt and other obligations of any Borrower to any other
      Borrower are hereby subordinated to the full payment and performance of the
      Obligations; provided, however, such debt and other obligations may be incurred
      and repaid, subject to the terms of this Note, as long as no Event of Default
      shall have occurred and not have been waived; (e) Each Borrower is presently
      informed as to the financial condition of each of the other Borrowers and of
      all
      other circumstances that a diligent inquiry would reveal and that bear upon
      the
      risk of nonpayment of the Obligations. Each Borrower hereby covenants that
      it
      will continue to keep itself informed as to the financial condition of all
      other
      Borrowers, the status of all other Borrowers, and of all circumstances that
      bear
      upon the risk of nonpayment. Absent a written request from any of the Borrowers
      to Bank for information, each Borrower hereby waives any and all rights it
      may
      have to require Bank to disclose to such Borrower any information that Bank
      may
      now or hereafter acquire concerning the condition or circumstances of any of
      the
      Borrowers; (f) Each Borrower waives all rights to notices of default, existence,
      creation, or incurring of new or additional indebtedness and all other notices
      of formalities to which such Borrower may, as a joint and several Borrower
      hereunder, be entitled; and (g)The term “Borrower” shall mean “the Borrowers and
      each of them individually and collectively”.

    

    The
      joint
      and several obligations of the Borrower to Bank under this Note shall remain
      in
      full force and effect (or be reinstated) until Bank has received payment in
      full
      of all obligations and the expiration of any applicable preference or similar
      period pursuant to any bankruptcy, insolvency, reorganization, moratorium or
      similar law, or at law or equity, without any claim having been made before
      the
      expiration of such period asserting an interest in all or any part of any
      payment(s) received by Bank.

     

    
      
         

      

      
        
          Exhibit
            A-1/Page 2

        

        
          

        

      

      
         

      

    

     

    Each
      Borrower expressly agrees that Bank shall not be required first to institute
      any
      suit or to exhaust its remedies against any other Borrower or any other person
      or party to become liable hereunder or against any Collateral, in order to
      enforce this Note; and expressly agree that, notwithstanding the occurrence
      of
      any of the foregoing, each Borrower shall be and remain, directly and primarily
      liable for all sums due under this Note and under the Loan Documents. On
      disposition by Bank of any property encumbered by any Collateral, each Borrower
      shall be and shall remain jointly and severally liable for any
      deficiency.

    

    Upon
      the
      occurrence of any one or more of the Events of Default specified in the
      Agreement, all amounts then remaining unpaid on this Note may be declared to
      be
      immediately due and payable as provided in the Agreement.

    

    This
      Note
      shall replace and supersede the note made by the Borrower to the order of the
      Bank dated June 17, 2005 in the principal amount of $5,000,000 (the “Prior Note”
which was a replacement of the Noted dated November 4, 2004 in the principal
      amount of $2,000,000.00 which was in turn a replacement of a prior note dated
      March 26, 2004 in the principal amount of $1,000,000.00; provided, however,
      that
      the execution and delivery of this Note shall not in any circumstance be deemed
      to have terminated, extinguished or discharged the Borrower’s indebtedness under
      such Prior Note, all of which indebtedness shall continue under and be governed
      by this Note and the documents, instruments and agreements executed pursuant
      hereto or in connection herewith. This Note is a replacement, consolidation,
      amendment and restatement of the Prior Note and IS NOT A NOVATION. The Borrower
      shall also pay and this Note shall also evidence any and all unpaid interest
      on
      all the loan made by the Bank to the Borrower pursuant to Prior Note, and at
      the
      interest rate specified therein, for which this Note has been issued as
      replacement therefor.

    

    This
      Note
      shall be construed in accordance with and governed by the laws of the State
      of
      New York.

    

    NY
      HYPERBARIC, LLC 

    FOREST
      HILLS HYPERBARIC, LLC

    SCRANTON
      HYPERBARIC LLC 

    JFK
      HYPERBARIC LLC 

    TRENTON
      HYPERBARIC, LLC

    NEWARK
      BI
      LLC 

    PASSAIC
      HYPERBARIC, LLC

    ST
      JOSEPHS HYPERBARIC LLC

    GREATER
      BRONX HYPERBARIC LLC 

    (f/k/a
      MONTEFIORE HYPERBARIC LLC) 

    ELISE
      KING, LLC

    SOUTH
      NASSAU HYPERBARIC LLC

    NEW
      YORK
      HYPERBARIC AND

    WOUND
      CARE CENTERS LLC (DEL)

    NEW
      YORK
      HYPERBARIC AND 

    WOUND
      CARE CENTERS, L.L.C. (N.Y.)

    VB
      HYPERBARIC, LLC 

    
      EIN
        HYPERBARIC LLC 

      MAIMONIDES
        HYPERBARIC, LLC 

      THE
        SQUARE HYPERBARIC, LLC 

       

    

    
      
         

      

      
        
          Exhibit
            A-1/Page 3

        

        
          

        

      

      
         

      

    

     

    SOUTH
      N
      HYPERBARIC LLC 

    MUHLENBERG
      HYPERBARIC LLC 

    LOWELL
      HYPERBARIC LLC

    THE
      CENTER FOR WOUND HEALING I, LLC (f/k/a MODERN MEDICAL, LLC)

    THE
      CENTER FOR WOUND HEALING II, LLC (f/k/a MODERN MEDICAL SPECIALTIES,
      LLC)

    NJ
      HYPERBARIC, LLC

    FAR
      ROCKAWAY HYPERBARIC, LLC

    ATLANTIC
      HYPERBARIC, LLC

    ATLANTIC
      ASSOCIATES, LLC

    CEF
      PRODUCTS, LLC

    CMC
      HYPERBARIC, LLC

    PENNSYLVANIA
      HYPERBARIC, LLC

    HYBERBARIC,
      LLC

    (a/k/a
      MASSACHUSETTS HYPERBARIC, LLC)

    MEADOWLANDS
      HYPERBARIC, LLC

    by
      their
      managers/members

    
      
        
          
            	
                    
                      THE
                        CENTER FOR WOUND HEALING, INC.

                    

                  
	 	 
	
                    By:

                  	 
	
                    Name:

                  	 
	
                    Title:

                  	 

          

        

      

    

     

    
      
         

      

      
        
          Exhibit
            A-1/Page 4

        

        
          

        

      

      
         

      

    

     

    SCHEDULE
      OF LOANS AND PAYMENT OF PRINCIPAL

     

    TO
      AMENDED AND RESTATED REVOLVING CREDIT NOTE DATED AS OF MAY ___, 2007 FROM NY
      HYPERBARIC, LLC, FOREST HILLS HYPERBARIC, LLC, SCRANTON HYPERBARIC LLC, JFK
      HYPERBARIC LLC, TRENTON HYPERBARIC, LLC, NEWARK BI LLC, PASSAIC HYPERBARIC,
      LLC,
      ST JOSEPHS HYPERBARIC LLC, GREATER BRONX HYPERBARIC LLC (f/k/a Montefiore
      Hyperbaric LLC), ELISE KING, LLC, SOUTH NASSAU HYPERBARIC, LLC, NEW YORK
      HYPERBARIC AND WOUND CARE CENTERS LLC, NEW YORK HYPERBARIC AND WOUND CARE
      CENTERS, L.L.C., VB HYPERBARIC, LLC, EIN HYPERBARIC LLC, MAIMONIDES HYPERBARIC,
      LLC, THE SQUARE HYPERBARIC, LLC, SOUTH N HYPERBARIC LLC, MUHLENBERG HYPERBARIC
      LLC, LOWELL HYPERBARIC LLC., THE CENTER FOR WOUND HEALING I, LLC (f/k/a Modern
      Medical, LLC), THE CENTER FOR WOUND HEALING II, LLC (f/k/a Modern Medical
      Specialties, LLC), NJ HYPERBARIC, LLC, FAR ROCKAWAY HYPERBARIC, LLC, ATLANTIC
      HYPERBARIC, LLC, ATLANTIC ASSOCIATES, LLC, CEF PRODUCTS, LLC, CMC HYPERBARIC,
      LLC, PENNSYLVANIA HYPERBARIC, LLC, HYPERBARIC, LLC (a/k/a Massachusetts
      Hyperbaric, LLC) and MEADOWLANDS HYPERBARIC, LLC

     

      
        	
                Date

              	 	
                Amount of

                Loan 

              	 	
                Interest Rate

              	 	
                Last Day of

                Interest Period

              	 	
                Balance

                Principal Paid

              	 	
                Remaining

                Unpaid

              	 	
                Notation

                Made By

              	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 

      

    

     

    
      
         

      

      
        
          Exhibit
            A-1/Page 5

        

        
          

        

      

      
         

      

    

     

    EXHIBIT
      A-2

    TERM
      NOTE

    

    
      	
              $1,500,000.00

            	
              Garden
                City, New York

            	
              May
                29, 2007

            

    

    

    NY
      Hyperbaric, LLC, a New York limited liability company, Forest Hills Hyperbaric,
      LLC, a New York limited liability company, Scranton Hyperbaric LLC, a
      Pennsylvania limited liability company, JFK Hyperbaric LLC, a New Jersey limited
      liability company, Trenton Hyperbaric, LLC, a New Jersey limited liability
      company, Newark BI LLC, a New Jersey limited liability company, Passaic
      Hyperbaric, LLC, a New York limited liability company, St Josephs Hyperbaric
      LLC, a New York limited liability company, Greater Bronx Hyperbaric LLC (f/k/a
      Montefiore Hyperbaric LLC), a New York limited liability company, Elise King,
      LLC, a New York limited liability company, South Nassau Hyperbaric, LLC a New
      York limited liability company, New York Hyperbaric and Wound Care Centers
      LLC,
      a Delaware limited liability company, New York Hyperbaric and Wound Care
      Centers, L.L.C., a New York limited liability company, VB Hyperbaric, LLC,
      a New
      York limited liability company, EIN Hyperbaric LLC, a New York limited liability
      company, Maimonides Hyperbaric, LLC, a New York limited liability company,
      The
      Square Hyperbaric, LLC, a New York limited liability company, South N Hyperbaric
      LLC, a New York limited liability company, Muhlenberg Hyperbaric LLC, a New
      Jersey limited liability company, Lowell Hyperbaric LLC, a Massachusetts limited
      liability company, The Center for Wound Healing I, LLC (f/k/a Modern Medical,
      LLC), a New Jersey limited liability company, The Center for Wound Healing
      II,
      LLC, (f/k/a Modern Medical Specialties, LLC), a New York limited liability
      company, NJ Hyperbaric, LLC, a New Jersey limited liability company, Far
      Rockaway Hyperbaric, LLC, a New York limited liability company, Atlantic
      Hyperbaric, LLC, a New York limited liability company, Atlantic Associates,
      LLC,
      a Delaware limited liability company, CEF Products, LLC, a New York limited
      liability company, CMC Hyperbaric, LLC, a Pennsylvania limited liability
      company, Pennsylvania Hyperbaric, LLC, a Pennsylvania limited liability company,
      Hyperbaric, LLC (a/k/a Massachusetts Hyperbaric, LLC), a Massachusetts limited
      liability company and Meadowlands Hyperbaric, LLC, a New Jersey limited
      liability company (collectively, the “Borrower”), for value received, hereby
      promises to pay to the order of SIGNATURE BANK (the “Bank”) at the office of the
      Bank specified in Section 10.1 of the Loan Agreement dated as of June 17, 2005,
      between the Borrower and the Bank, as amended from time to time (as so amended
      the “Agreement”; terms defined in the Agreement shall have their defined
      meanings when used in this Note), in lawful money of the United States of
      America and in immediately available funds the principal amount of ONE MILLION
      FIVE HUNDRED THOUSAND AND 00/100 ($1,500,000.00) DOLLARS payable in seven
      consecutive monthly installments of $33,333.00 each and the last and final
      installment equal to the then unpaid principal balance of this Note payable
      on
      the first day of each month commencing September 1, 2007 and a final payment
      equal to the then unpaid principal balance of this Note on March 1, 2008. The
      Borrower further promises to pay interest at said office in like money on the
      unpaid principal balance of this Note from time to time outstanding at an annual
      rate selected pursuant to the terms of Section 2 of the Agreement on the first
      day of each month commencing May 1, 2007. Interest shall be computed on the
      basis of a 360-day year for actual days elapsed and shall be payable as provided
      in the Agreement. After the stated or accelerated maturity hereof, this Note
      shall bear interest at a rate as set forth in the Agreement, payable on demand,
      but in no event in excess of the maximum rate of interest permitted under any
      applicable law.

     

    
      
         

      

      
        
          Exhibit
            A-2/Page 1

        

        
          

        

      

      
         

      

    

     

    This
      Note
      is the Term Note referred to in the Agreement, and is entitled to the benefits
      and subject to the terms thereof and may be prepaid in whole or in part (subject
      to the indemnity provided in the Agreement) as provided therein. This Note
      is
      secured by the collateral described in the Security Agreements.

    

    Upon
      the
      occurrence of any one or more of the Events of Default specified in the
      Agreement, all amounts then remaining unpaid under this Note may be declared
      immediately due and payable as provided in the Agreement.

    

    This
      Note
      shall be construed in accordance with and governed by the laws of the State
      of
      New York.

    

    NY
      HYPERBARIC, LLC 

    FOREST
      HILLS HYPERBARIC, LLC

    SCRANTON
      HYPERBARIC LLC 

    JFK
      HYPERBARIC LLC 

    TRENTON
      HYPERBARIC, LLC

    NEWARK
      BI
      LLC 

    PASSAIC
      HYPERBARIC, LLC

    ST
      JOSEPHS HYPERBARIC LLC

    GREATER
      BRONX HYPERBARIC LLC 

    (f/k/a
      MONTEFIORE HYPERBARIC LLC) 

    ELISE
      KING, LLC

    SOUTH
      NASSAU HYPERBARIC LLC

    NEW
      YORK
      HYPERBARIC AND

    WOUND
      CARE CENTERS LLC (DEL)

    NEW
      YORK
      HYPERBARIC AND 

    WOUND
      CARE CENTERS, L.L.C. (N.Y.)

    VB
      HYPERBARIC, LLC 

    EIN
      HYPERBARIC LLC 

    MAIMONIDES
      HYPERBARIC, LLC 

    THE
      SQUARE HYPERBARIC, LLC 

    SOUTH
      N
      HYPERBARIC LLC 

    MUHLENBERG
      HYPERBARIC LLC 

    LOWELL
      HYPERBARIC LLC

    THE
      CENTER FOR WOUND HEALING I, LLC (f/k/a MODERN MEDICAL, LLC)

    THE
      CENTER FOR WOUND HEALING II, LLC (f/k/a MODERN MEDICAL SPECIALTIES,
      LLC)

    NJ
      HYPERBARIC, LLC

    FAR
      ROCKAWAY HYPERBARIC, LLC

    ATLANTIC
      HYPERBARIC, LLC

    ATLANTIC
      ASSOCIATES, LLC

    CEF
      PRODUCTS, LLC

    CMC
      HYPERBARIC, LLC

    PENNSYLVANIA
      HYPERBARIC, LLC

    HYBERBARIC,
      LLC

    (a/k/a
      MASSACHUSETTS HYPERBARIC, LLC)

    MEADOWLANDS
      HYPERBARIC, LLC

    by
      their
      managers/members

    
      
        
          	
                  
                    THE
                      CENTER FOR WOUND HEALING, INC.

                  

                
	 	 
	
                  By:

                	 
	
                  Name:

                	 
	
                  Title:

                	 

        

      

       

      
        
           

        

        
          
            Exhibit
              A-2/Page 2

          

          
            

          

        

        
           

        

      

    

    EXHIBIT
      B-1

    Form
      of Borrowing Base Certificate

    

    The
      undersigned officer(s) of the Borrower certify(ies) that the information
      furnished herein as of ______________________ as to Eligible Accounts Receivable
      is true, and correct and that as of the date hereof no Event of Default
      exists.

    

    Computation
      of Borrowing Base

    

    
      	
              A.

            	
              Gross
                Accounts Receivable

            	 	
              $_______

            
	 	 	 	 
	
              B.

            	
              Less:
                Receivables 120 days and over

            	 	
              $_______

            
	 	 	 	 
	
              C.

            	
              Eligible
                Accounts Receivable (A-B)

            	 	
              $_______

            
	 	 	 	 
	
              D.

            	
              80%
                of Line C

            	 	 
	 	
              (85%
                from May ___, 2007 to August 30, 2007)

            	 	
              $_______

            
	 	 	 	 
	
              E.

            	
              Principal
                Amount of Term Loan

            	 	
              $_______

            
	 	 	 	 
	
              F.

            	
              Borrowing
                Base Availability (D-E)

            	 	
              $_______

            
	 	 	 	 
	
              G.

            	
              Aggregate
                principal balance of Revolving Credit Loans Outstanding

            	 	
              $_______

            
	 	 	 	 
	
              H.

            	
              Commitment
                Available or Amount Due:

            	 	 
	 	 	 	 
	 	
              If
                Line F is greater than Line G,Commitment Available (F-G)

            	 	
              $_______

            
	 	 	 	 
	 	
              If
                Line G is greater than Line F,Amount Due (G-F)

            	 	
              $_______

            

    

     

     

    
      
        
          	
                  
                    
                      [NAME
                        OF BORROWER]

                    

                  

                
	 	 
	
                  By:

                	 
	
                  Name:

                	 
	
                  Title:

                	 

        

      

       

      
        
           

        

        
          
            Exhibit
              B/Page 1

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