Document:

Form of Schwarting Senior Note

 Exhibit 4.3 

10% SENIOR PROMISSORY NOTE 

$10,375.00 

COMPREHENSIVE CARE CORPORATION 

promises to pay to the order of the Schwarting Revocable Trust, the principal sum of $10,375.00 (Ten Thousand Three Hundred Seventy-Five Dollars and No
Cents) on April 15, 2012 in accordance with the terms and provisions attached hereto and incorporated herein. 
 10%
SENIOR PROMISSORY NOTE 
 DUE APRIL 15, 2012 

Interest Payment Dates: April 15 and October 15 

 

			
	Dated: June     , 2010
	
	COMPREHENSIVE CARE CORPORATION
		
	By	 	  

		 	        Mr. Giuseppe Crisafi
		 	        Chief Financial Officer
		 	        Comprehensive Care Corporation

(Seal) 

 COMPREHENSIVE CARE CORPORATION 

10% Senior Note 

Due April 15, 2012 

1. Interest. Comprehensive Care Corporation, a Delaware corporation (the “Company”), promises to pay interest on the
principal amount of this Senior Note (the “Note”) at the rate per annum shown above. The Company will pay interest semiannually on April 15 and October 15 of each year, commencing October 15, 2010. Interest on the Note will
accrue from the most recent date to which interest has been paid or, if no interest has been paid, from April 15, 2010. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

2. Method of Payment. The Company will pay principal and interest in money of the United States that at the time of payment is
legal tender for payment of public and private debts. The Company shall make payment to the Holder of the Note at the Holder’s address as set forth herein (or such other address as provided to the Company in accordance with Section 12
below). 
 4. Optional Prepayment. The Company may prepay all or any part of the Note at any time or from time to time by
paying to the Holder cash equal to the face amount to be redeemed, plus accrued interest thereon. The Company shall make payment for any optional prepayment within five (5) days following the expiration of thirty (30) days from delivery by
the Company to the Holder of written notice of the Company’s intent to make such prepayment. 
 5. Notice of
Prepayment. Notice of prepayment will be mailed at least 30 days before the prepayment date to the Holder at the registered address of such holder as set forth herein. 

8. Amendments and Waivers. This Note may not be amended or modified without the written consent of the Holder and the Company.

 9. Defaults and Remedies. An Event of Default shall mean: (i) a default for 30 days or more in
payment of interest on the Note, (ii) a default in payment of principal on the Note, (iii) failure by the Company for 30 days after notice to it to comply with any of its other obligations under this Note, including the agreements set
forth on Annex A attached hereto, (iv) the Company shall file for relief under any chapter of the U. S. Bankruptcy Code, (v) any involuntary petition under the U. S. Bankruptcy Code shall be filed against the Company, (vi) any
material proceeding, procedure or remedy supplementary to or in enforcement of judgment shall be resorted to or commenced against the Company, or with respect to any of its property which is not discharged, stayed or bonded within 30 days,
(vii) any governmental authority or any court at the insistence thereof shall take possession of any substantial part of the property of or assume control over the affairs or operations of, or a receiver shall be appointed for or take
possession of the property of, or a writ or order of attachment or garnishment shall be issued or made against any of the property of the Company, (viii) the Company shall be dissolved, wound up, liquidated or otherwise terminated without the
written consent of Holder or (ix) the Company shall transfer or sell substantially all or an integral portion of its assets without the written consent of Holder. If an Event of Default occurs and is continuing, the Holder may declare this Note
to be due and payable immediately, except that in the case of an Event of Default arising under clauses (iv), (v) or (vi) above this Note shall become due and payable immediately without further action or notice. 

 10. Reimbursement of Costs. The Company agrees to reimburse Holder for all costs and
expenses (including Holder’s reasonable attorneys’ fees) incurred by Holder in collecting any amounts due to Holder pursuant to this Note or otherwise enforcing Holder’s rights or the Company’s obligations under this Note.

 11. Usury. It is the intention of the Company and Holder to conform strictly to applicable usury laws. Accordingly, if
the transactions contemplated hereby would be usurious under applicable law, then, in that event, notwithstanding anything to the contrary in any agreement entered into in connection with or as security for this note, it is agreed as follows:
(i) the aggregate of all consideration which constitutes interest under applicable law that is taken, reserved, contracted for, charged or received under this note or under any of the other aforesaid agreements or otherwise in connection with
this note shall under no circumstances exceed the maximum amount of interest allowed by applicable law, and any excess shall be credited on this note by the holder hereof (or, if this note shall have been paid in full, refunded to the Company);
(ii) determination of the rate of interest for determining whether the loans hereunder are usurious shall be made by amortizing, prorating, allocating and spreading, during the full stated term of such loans, all interest at any time contracted
for, charged or received from the Company in connection with such loans, and any excess shall be cancelled, credited or refunded as set forth in item (i) herein; and (iii) in the event that maturity of this note is accelerated by reason of
an election by the holder hereof resulting from any default hereunder or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest may never include more than the maximum amount allowed by
applicable law, and excess interest, if any, provided for in this note or otherwise shall be cancelled automatically as of the date of such acceleration or prepayment and, if theretofore prepaid, shall be credited on this note (or if this note shall
have been paid in full, refunded to the Company). 
 12. Notices. Notices and other communications provided for herein
shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by fax, as follows: 

if to the Company, at: 

3405 W. Dr. Martin Luther King Jr. Blvd., Suite 101, Tampa, FL 33607 

if to the Holder, at
                                         
                    
 All such notices and
other communications (i) sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received or (ii) sent by fax shall be deemed to have been given when sent and when
receipt has been confirmed by telephone; provided that if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient. The Company or the Holder
may change its address or fax number for notices and other communications hereunder by notice to the other party in accordance with the provisions hereof. 

 Annex A 

Covenants of the Company 
  

	1.	Payment of the Notes 

 The Company shall
pay the principal of and interest on the Notes on the dates and in the manner provided in the Note. The Company shall pay interest on overdue principal at the rate borne by the Notes; it shall pay interest on overdue installments of interest at the
same rate to the extent lawful. 
  

	2.	Compliance Certificate 

 The Company shall
deliver to the Noteholders, within 120 days after the end of each fiscal year of the Company, an Officers’ Certificate stating whether or not the signers know of any default that occurred during the fiscal year. If they do, the certificate
shall describe the default and its status. 
 The Company will, so long as the Notes are outstanding, deliver to the Noteholders, forthwith upon
becoming aware of any default, Event of Default or default in the performance of any covenant, agreement or condition in this Note, an Officers’ Certificate specifying such default, Event of Default or default in performance. 

 

	3.	Continued Existence 

 Subject to
Section 4, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its existence as a corporation. 
  

	4.	When Company May Merge, etc. 

 The Company
shall not consolidate or merge into, or transfer or lease all or substantially all of its assets to, any person unless: 
  

	 	a.	the person is a corporation organized and existing under the laws of the United States, any state thereof or the District of Columbia; 

 

	 	b.	the person assumes all obligations of the Company under the Note; and 

  

	 	c.	immediately after the transaction no default or Event of Default exists. 

The surviving corporation shall be the successor Company, but the predecessor Company in the case of a transfer or lease shall not be released from the
obligation to pay the principal of and interest on the Notes.Form of Schwarting Warrant

 Exhibit 4.4 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR A VALID EXEMPTION EXISTS WITH RESPECT
THERETO, OR SUCH SECURITIES MAY BE SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT. 
 WARRANT TO PURCHASE 

SHARES OF COMMON STOCK 

OF 

COMPREHENSIVE CARE CORPORATION 

Expires June     , 2015 

Number of Shares: 41,500 
 Date
of Issuance: June     , 2010 
 FOR VALUE RECEIVED, the undersigned, Comprehensive Care Corporation,
a Delaware corporation (together with its successors and assigns, the “Issuer”), hereby certifies that the Schwarting Revocable Trust is entitled to subscribe for and purchase, during the Term (as hereinafter defined), up to
forty-one thousand five hundred (41,500) shares (subject to adjustment as hereinafter provided) of the duly authorized, validly issued, fully paid and non-assessable Common Stock of the Issuer, par value $0.01 per share (the “Common
Stock”), at an exercise price per share equal to the Warrant Price then in effect, subject, however, to the provisions and upon the terms and conditions hereinafter set forth. 

1. Term. The term for this Warrant shall commence on June     , 2010 and shall expire at 6:00 p.m.,
eastern time, on June     , 2015 (such period being the “Term”). 
 2. Method of
Exercise; Payment; Issuance of New Warrant; Transfer and Exchange. 
 (a) Time of Exercise. The purchase rights
represented by this Warrant may be exercised in whole or in part during the Term beginning on the date of issuance hereof. 

(b) Method of Exercise. The Holder hereof may exercise this Warrant, in whole or in part, by the surrender of this Warrant (with
the exercise form attached hereto duly executed) at the principal office of the Issuer, and by the payment to the Issuer of an amount of consideration therefor equal to the Warrant Price in effect on the date of such exercise multiplied by the
number of shares of Warrant Stock with respect to which this Warrant is then being exercised, payable at such Holder’s election by certified or official bank check or by wire transfer to an account designated by the Issuer, or through a
dollar-for-dollar reduction in the face amount of debt securities of the Company held by such Holder, or any accrued interest due on such debt securities. 
  

 -1- 

 (c) Issuance of Stock Certificates. In the event of any exercise of this Warrant in
accordance with and subject to the terms and conditions hereof, certificates for the shares of Warrant Stock so purchased shall be dated the date of such exercise and delivered to the Holder hereof within a reasonable time, not exceeding three
(3) Trading Days after such exercise (the “Delivery Date”) or, at the request of the Holder, issued and delivered to the Depository Trust Company (“DTC”) account on the Holder’s behalf via the Deposit
Withdrawal Agent Commission System (“DWAC”) within a reasonable time, not exceeding three (3) Trading Days after such exercise, and the Holder hereof shall be deemed for all purposes to be the holder of the shares of Warrant
Stock so purchased as of the date of such exercise. Notwithstanding the foregoing to the contrary, the Issuer or its transfer agent shall only be obligated to issue and deliver the shares to the DTC on a holder’s behalf via DWAC if such
exercise is in connection with a sale and the Issuer and its transfer agent are participating in DTC through the DWAC system. The Holder shall deliver this original Warrant, or an indemnification undertaking with respect to such Warrant in the case
of its loss, theft or destruction, at such time that this Warrant is fully exercised. With respect to partial exercises of this Warrant, the Issuer shall keep written records for the Holder of the number of shares of Warrant Stock exercised as of
each date of exercise. 
 (e) Transferability of Warrant. Subject to Section 2(g) hereof, this Warrant may be
transferred by a Holder, in whole or in part. If transferred pursuant to this paragraph, this Warrant may be transferred on the books of the Issuer by the Holder hereof in person or by duly authorized attorney, upon surrender of this Warrant at the
principal office of the Issuer, properly endorsed (by the Holder executing an assignment in the form attached hereto) and upon payment of any necessary transfer tax or other governmental charge imposed upon such transfer. This Warrant is
exchangeable at the principal office of the Issuer for Warrants to purchase the same aggregate number of shares of Warrant Stock, each new Warrant to represent the right to purchase such number of shares of Warrant Stock as the Holder hereof shall
designate at the time of such exchange. All Warrants issued on transfers or exchanges shall be dated the Original Issue Date and shall be identical with this Warrant except as to the number of shares of Warrant Stock issuable pursuant thereto.

 (f) Continuing Rights of Holder. The Issuer will, at the time of or at any time after each exercise of this Warrant,
upon the request of the Holder hereof, acknowledge in writing the extent, if any, of its continuing obligation to afford to such Holder all rights to which such Holder shall continue to be entitled after such exercise in accordance with the terms of
this Warrant, provided that if any such Holder shall fail to make any such request, the failure shall not affect the continuing obligation of the Issuer to afford such rights to such Holder. 

 

 -2- 

 (g) Compliance with Securities Laws. 

(i) The Holder of this Warrant, by acceptance hereof, acknowledges that this Warrant and the shares of Warrant Stock to be
issued upon exercise hereof are being acquired solely for the Holder’s own account and not as a nominee for any other party, and for investment, and that the Holder will not offer, sell or otherwise dispose of this Warrant or any shares of
Warrant Stock to be issued upon exercise hereof except pursuant to an effective registration statement, or an exemption from registration, under the Securities Act and any applicable state securities laws. 

(ii) Except as provided in paragraph (iii) below, this Warrant and all certificates representing shares of Warrant
Stock issued upon exercise hereof shall be stamped or imprinted with a legend in substantially the following form: 
 THIS
WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF
UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR A VALID EXEMPTION EXISTS WITH RESPECT THERETO, OR SUCH SECURITIES MAY BE SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT. 

(iii) The Issuer agrees to reissue this Warrant or certificates representing any of the Warrant Stock, without the legend
set forth above if at such time, prior to making any transfer of any such securities, the Holder shall give written notice to the Issuer describing the manner and terms of such transfer. Such proposed transfer will not be effected until:
(a) either (i) the Issuer has received an opinion of counsel reasonably satisfactory to the Issuer, to the effect that the registration of such securities under the Securities Act is not required in connection with such proposed transfer,
(ii) a registration statement under the Securities Act covering such proposed disposition has been filed by the Issuer with the Securities and Exchange Commission and has become effective under the Securities Act, (iii) the Issuer has
received other evidence reasonably satisfactory to the Issuer that such registration and qualification under the Securities Act and state securities laws are not required, or (iv) the Holder provides the Issuer with reasonable assurances that
such security can be sold pursuant to Rule 144 under the Securities Act; and (b) either (i) the Issuer has received an opinion of counsel reasonably satisfactory to the Issuer, to the effect that registration or qualification under the
securities or “blue sky” laws of any state is not required in connection with such proposed disposition, or (ii) compliance with applicable state securities or “blue sky” laws has been effected or a valid exemption exists
with respect thereto. The Issuer will respond to any such notice from a holder within three (3) Trading Days. In the case of any proposed transfer under this Section 2(g), the Issuer will use reasonable efforts to comply with any such

  

 -3- 

 
applicable state securities or “blue sky” laws, but shall in no event be required, (x) to qualify to do business in any state where it is not then qualified, (y) to take any
action that would subject it to tax or to the general service of process in any state where it is not then subject, or (z) to comply with state securities or “blue sky” laws of any state for which registration by coordination is
unavailable to the Issuer. The restrictions on transfer contained in this Section 2(g) shall be in addition to, and not by way of limitation of, any other restrictions on transfer contained in any other section of this Warrant. Whenever a
certificate representing the Warrant Stock is required to be issued to a the Holder without a legend, in lieu of delivering physical certificates representing the Warrant Stock, the Issuer shall cause its transfer agent to electronically transmit
the Warrant Stock to the Holder by crediting the account of the Holder’s Prime Broker with DTC through its DWAC system (to the extent not inconsistent with any provisions of this Warrant). 

(h) Accredited Investor Status. In no event may the Holder exercise this Warrant in whole or in part unless the Holder is an
“accredited investor” as defined in Regulation D under the Securities Act. 
 (i) No Mandatory Redemption. This
Warrant may not be called or redeemed by the Issuer without the written consent of the Holder. 
 3. Stock Fully Paid;
Reservation and Listing of Shares; Covenants. 
 (a) Stock Fully Paid. The Issuer represents, warrants, covenants and
agrees that all shares of Warrant Stock which may be issued upon the exercise of this Warrant or otherwise hereunder will, when issued in accordance with the terms of this Warrant, be duly authorized, validly issued, fully paid and non-assessable
and free from all taxes, liens and charges created by or through the Issuer. The Issuer further covenants and agrees that during the period within which this Warrant may be exercised, the Issuer will at all times have authorized and reserved for the
purpose of the issuance upon exercise of this Warrant a number of authorized but unissued shares of Common Stock equal to at least one hundred percent (100%) of the number of shares of Common Stock issuable upon exercise of this Warrant without
regard to any limitations on exercise. 
 (b) Reservation. If any shares of Common Stock required to be reserved for
issuance upon exercise of this Warrant or as otherwise provided hereunder require registration or qualification with any Governmental Authority under any federal or state law before such shares may be so issued, the Issuer will in good faith use its
best efforts as expeditiously as possible at its expense to cause such shares to be duly registered or qualified. If the Issuer shall list any shares of Common Stock on any securities exchange or market it will, at its expense, list thereon, and
maintain and increase when necessary such listing, of, all shares of Warrant Stock from time to time issued upon exercise of this Warrant or as otherwise provided hereunder (provided that such Warrant Stock has been registered pursuant to a
registration statement under the Securities Act then in effect), and, to the extent permissible under the applicable securities exchange rules, all unissued shares of Warrant Stock which are at any time issuable hereunder, so long as any shares of
Common Stock shall be so listed. The Issuer will also so list on each securities 
  

 -4- 

 
exchange or market, and will maintain such listing of, any other securities which the Holder of this Warrant shall be entitled to receive upon the exercise of this Warrant if at the time any
securities of the same class shall be listed on such securities exchange or market by the Issuer. 
 (c) Loss, Theft,
Destruction of Warrants. Upon receipt of evidence satisfactory to the Issuer of the ownership of and the loss, theft, destruction or mutilation of any Warrant and, in the case of any such loss, theft or destruction, upon receipt of indemnity or
security satisfactory to the Issuer or, in the case of any such mutilation, upon surrender and cancellation of such Warrant, the Issuer will make and deliver, in lieu of such lost, stolen, destroyed or mutilated Warrant, a new Warrant of like tenor
and representing the right to purchase the same number of shares of Common Stock. 
 (d) Payment of Taxes. The Issuer
will pay any documentary stamp taxes attributable to the initial issuance of the Warrant Stock issuable upon exercise of this Warrant; provided, however, that the Issuer shall not be required to pay any tax or taxes which may be
payable in respect of any transfer involved in the issuance or delivery of any certificates representing Warrant Stock in a name other than that of the Holder in respect to which such shares are issued. 

4. Adjustment of Warrant Price and Number of Shares Issuable Upon Exercise. The Warrant Price and the number of shares of Warrant
Stock that may be purchased upon exercise of this Warrant shall be subject to adjustment from time to time as set forth in this Section 4. Upon each adjustment of the Warrant Price, the Holder of this Warrant shall thereafter be entitled to
purchase, at the Warrant Price resulting from such adjustment, the number of shares of Common Stock obtained by multiplying the Warrant Price in effect immediately prior to such adjustment by the number of shares purchasable pursuant hereto
immediately prior to such adjustment, and dividing the product thereof by the Warrant Price resulting from such adjustment. 

(a) Adjustment Due to Dividends, Stock Splits, Etc. If, at any time on or after the Original Issuance Date, the number of
outstanding shares of Common Stock is increased by a (i) dividend payable in any kind of shares of capital stock of the Corporation, (ii) stock split, (iii) combination, (iv) reclassification or (v) other similar event, the
Conversion Price shall be proportionately reduced by multiplying the Warrant Price by a fraction of which the numerator shall be the number of outstanding shares of Common Stock immediately before such event and of which the denominator shall be the
number of outstanding shares of Common Stock immediately after such event, or if the number of outstanding shares of Common Stock is decreased by a reverse stock split, combination or reclassification of shares, or other similar event, the
Conversion Price shall be proportionately increased by multiplying the Warrant Price by a fraction of which the numerator shall be the number of outstanding shares of Common Stock immediately before such event and of which the denominator shall be
the number of outstanding shares of Common Stock immediately after such event. In such event, the Issuer shall notify the Corporation’s Transfer Agent of such change on or before the effective date thereof. 

(b) Adjustment Due to Merger, Consolidation, Etc. If, at any time after the Original Issuance Date, there shall be (i) any
reclassification or change of the outstanding shares of 
  

 -5- 

 
Common Stock, (ii) any consolidation or merger of the Corporation with any other entity (other than a merger in which the Corporation is the surviving or continuing entity and its capital
stock is unchanged), (iii) any sale or transfer of all or substantially all of the assets of the Corporation, (iv) any share exchange or tender offer pursuant to which all of the outstanding shares of Common Stock are effectively converted
into other securities or property; or (v) any distribution of the Corporation’s assets to holders of the Common Stock as a liquidation or partial liquidation dividend or by way of return of capital (each of (i) - (v) above being a
“Corporate Change”), and, if such Corporate Change is not a Liquidation Event pursuant to the terms of Paragraph 5, then the Holder shall have the right thereafter to receive, upon exercise of this Warrant, the same amount and kind
of securities, cash or property as it would have been entitled to receive upon the occurrence of such Corporate Change if it had been, immediately prior to such Corporate Change, the holder of the number of shares of Warrant Stock then issuable upon
exercise in full of this Warrant, and in any such case, appropriate provisions (in form and substance reasonably satisfactory to the Holder) shall be made with respect to the rights and interests of the Holder to the end that the economic value of
the Warrant Stock is in no way diminished by such Corporate Change and that the provisions hereof including, without limitation, in the case of any such consolidation, merger or sale in which the successor entity or purchasing entity is not the
Issuer, an immediate adjustment of the Warrant Price so that the Warrant Price immediately after the Corporate Change reflects the same relative value as compared to the value of the surviving entity’s common stock that existed immediately
prior to such Corporate Change and the value of the Common Stock immediately prior to such Corporate Change. If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Corporate Change, then the Holder
shall be given the same choice as to the consideration it receives upon any exercise of this Warrant following such Corporate Change. 

(c) Adjustment Due to Dilutive Issuances. Except for any Qualified Issuance (as hereinafter defined), if at any time the Issuer
shall offer, issue or agree to issue any Common Stock or securities convertible into or exercisable for shares of Common Stock (or modify any of the foregoing which may be outstanding at any time prior to the Issuance Date) to any person or entity
at a price per share or conversion or exercise price per share which shall be less than the Warrant Price then in effect, then, for each such occasion, the Warrant Price shall be adjusted to equal such other lower price per share. For purposes of
this Section “Qualified Issuance” shall mean (i) the grant, issuance or exercise of any convertible securities pursuant to a qualified or non-qualified stock option plan of the Issuer or any other bona fide employee
benefit plan or incentive arrangement, adopted or approved by the Board and approved by the Issuer’s shareholders, as may be amended from time to time, (ii) the grant, issuance or exercise of any convertible securities in connection with
the hire or retention of any officer, director or key employee of the Issuer or any consultant, provided such grant is approved by the Board, or (iii) the issuance of any shares of Common Stock pursuant to the grant or exercise of convertible
securities outstanding as of the date hereof (exclusive of any subsequent amendments thereto). 
 (d) Other Adjustments.
If the Issuer takes any action affecting the Common Stock after the date hereof that would be covered by this Section 4, but for the manner in which such action is taken or structured, and such action would in any way diminish the value of the
Warrant or Warrant Stock, then the Warrant Price shall be adjusted in such manner as the Board shall in good faith determine to be equitable under the circumstances. 

 

 -6- 

 (e) Purchase Rights. In addition to any adjustments pursuant to subsections
(a)-(d) above, if at any time the Issuer grants, issues or sells any options, convertible securities or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of common stock (the
“Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the proportionate number
of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase
Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights. 

5. Notice of Adjustments. Whenever the Warrant Price or Warrant Share Number shall be adjusted pursuant to Section 4 hereof
(for purposes of this Section 5, each an “adjustment”), the Issuer shall cause its Chief Financial Officer to prepare and execute a certificate setting forth, in reasonable detail, the event requiring the adjustment, the amount
of the adjustment, the method by which such adjustment was calculated (including a description of the basis on which the Board made any determination hereunder), and the Warrant Price and Warrant Share Number after giving effect to such adjustment,
and shall cause copies of such certificate to be delivered to the Holder of this Warrant promptly after each adjustment. Any dispute between the Issuer and the Holder of this Warrant with respect to the matters set forth in such certificate may at
the option of the Holder of this Warrant be submitted to a national or regional accounting firm reasonably acceptable to the Issuer and the Holder, provided that the Issuer shall have ten (10) days after receipt of notice from such
Holder of its selection of such firm to object thereto, in which case such Holder shall select another such firm and the Issuer shall have no such right of objection. The firm selected by the Holder of this Warrant as provided in the preceding
sentence shall be instructed to deliver a written opinion as to such matters to the Issuer and such Holder within thirty (30) days after submission to it of such dispute. Such opinion shall be final and binding on the parties hereto. The costs
and expenses of the initial accounting firm shall be paid equally by the Issuer and the Holder and, in the case of an objection by the Issuer, the costs and expenses of the subsequent accounting firm shall be paid in full by the Issuer. 

6. Fractional Shares. No fractional shares of Warrant Stock will be issued in connection with any exercise hereof, but in lieu of
such fractional shares, the Issuer shall round the number of shares to be issued upon exercise up to the nearest whole number of shares. 

7. Definitions. For the purposes of this Warrant, the following terms have the following meanings: 

“Additional Shares of Common Stock” means all shares of Common Stock issued by the Issuer after the
Original Issue Date, and all shares of Other Common, if any, issued by the Issuer after the Original Issue Date, except for those issued in a Permitted Financing. 

“Board” shall mean the Board of Directors of the Issuer. 

 

 -7- 

 “Capital Stock” means and includes (i) any and all
shares, interests, participations or other equivalents of or interests in (however designated) corporate stock, including, without limitation, shares of preferred or preference stock, (ii) all partnership interests (whether general or limited)
in any Person which is a partnership, (iii) all membership interests or limited liability company interests in any limited liability company, and (iv) all equity or ownership interests in any Person of any other type. 

“Certificate of Incorporation” means the Certificate of Incorporation of the Issuer as in effect on the
Original Issue Date, and as hereafter from time to time amended, modified, supplemented or restated in accordance with the terms hereof and thereof and pursuant to applicable law. 

“Common Stock” means the Common Stock, $0.01 par value per share, of the Issuer and any other Capital
Stock into which such stock may hereafter be changed. 
 “Governmental Authority” means any
governmental, regulatory or self-regulatory entity, department, body, official, authority, commission, board, agency or instrumentality, whether federal, state or local, and whether domestic or foreign. 

“Holders” mean the Persons who shall from time to time own any Warrant. The term “Holder” means
one of the Holders. 
 “Independent Appraiser” means a nationally recognized or major regional
investment banking firm or firm of independent certified public accountants of recognized standing (which may be the firm that regularly examines the financial statements of the Issuer) that is regularly engaged in the business of appraising the
Capital Stock or assets of corporations or other entities as going concerns, and which is not affiliated with either the Issuer or the Holder of any Warrant. 

“Issuer” means Comprehensive Care Corporation, a Delaware corporation, and its successors. 

“Original Issue Date” means June     , 2010. 

“OTC Bulletin Board” means the over-the-counter electronic bulletin board. 

“Other Common” means any other Capital Stock of the Issuer of any class which shall be authorized at any
time after the date of this Warrant (other than Common Stock) and which shall have the right to participate in the distribution of earnings and assets of the Issuer without limitation as to amount. 

“Outstanding Common Stock” means, at any given time, the aggregate amount of outstanding shares of Common
Stock, assuming full exercise, conversion or exchange (as applicable) of all options, warrants and other Securities which are convertible into or exercisable or exchangeable for, and any right to subscribe for, shares of Common Stock that are
outstanding at such time. 
  

 -8- 

 “Person” means an individual, corporation, limited
liability company, partnership, joint stock company, trust, unincorporated organization, joint venture, Governmental Authority or other entity of whatever nature. 

“Securities” means any debt or equity securities of the Issuer, whether now or hereafter authorized, any
instrument convertible into or exchangeable for Securities or a Security, and any option, warrant or other right to purchase or acquire any Security. “Security” means one of the Securities. 

“Securities Act” means the Securities Act of 1933, as amended, or any similar federal statute then in
effect. 
 “Subsidiary” means any corporation at least 50% of whose outstanding Voting Stock
shall at the time be owned directly or indirectly by the Issuer or by one or more of its Subsidiaries, or by the Issuer and one or more of its Subsidiaries. 

“Term” has the meaning specified in Section 1 hereof. 

“Trading Day” means (a) a day on which the Common Stock is traded on the OTC Bulletin Board, or
(b) if the Common Stock is not traded on the OTC Bulletin Board, a day on which the Common Stock is quoted in the over-the-counter market as reported by the National Quotation Bureau Incorporated (or any similar organization or agency
succeeding its functions of reporting prices); provided, however, that in the event that the Common Stock is not listed or quoted as set forth in (a) or (b) hereof, then Trading Day shall mean any day except Saturday, Sunday
and any day which shall be a legal holiday or a day on which banking institutions in the State of New York are authorized or required by law or other government action to close. 

“Voting Stock” means, as applied to the Capital Stock of any corporation, Capital Stock of any class or
classes (however designated) having ordinary voting power for the election of a majority of the members of the Board of Directors (or other governing body) of such corporation, other than Capital Stock having such power only by reason of the
happening of a contingency. 
 “Warrants” means the Warrants issued pursuant to this Warrant,
without limitation, and any other warrants of like tenor issued in substitution or exchange for any thereof pursuant to the provisions of Section 2(c), 2(d) or 2(e) hereof or of any of such other Warrants. 

“Warrant Price” initially means $0.25, as such price may be adjusted from time to time as shall result
from the adjustments specified in this Warrant, including Section 4 hereto. 
  

 -9- 

 “Warrant Share Number” means at any time the aggregate
number of shares of Warrant Stock which may at such time be purchased upon exercise of this Warrant, after giving effect to all prior adjustments and increases to such number made or required to be made under the terms hereof. 

“Warrant Stock” means Common Stock issuable upon exercise of any Warrant or Warrants or otherwise
issuable pursuant to any Warrant or Warrants. 
 8. Other Notices. In case at any time: 

 

	 	(a)	the Issuer shall make any distributions to the holders of Common Stock; or 

 

	 	(b)	the Issuer shall authorize the granting to all holders of its Common Stock of rights to subscribe for or purchase any shares of Capital Stock of any class or other
rights; or 

  

	 	(c)	there shall be any reclassification of the Capital Stock of the Issuer; or 

 

	 	(d)	there shall be any capital reorganization by the Issuer; or 

  

	 	(e)	there shall be any (i) consolidation or merger involving the Issuer or (ii) sale, transfer or other disposition of all or substantially all of the
Issuer’s property, assets or business (except a merger or other reorganization in which the Issuer shall be the surviving corporation and its shares of Capital Stock shall continue to be outstanding and unchanged and except a consolidation,
merger, sale, transfer or other disposition involving a wholly-owned subsidiary); or 

  

	 	(f)	there shall be a voluntary or involuntary dissolution, liquidation or winding-up of the Issuer or any partial liquidation of the Issuer or distribution to holders of
Common Stock; 

 then, in each of such cases, the Issuer shall give written notice to the Holder of the date on which (i) the
books of the Issuer shall close or a record shall be taken for such dividend, distribution or subscription rights or (ii) such reorganization, reclassification, consolidation, merger, disposition, dissolution, liquidation or winding-up, as the
case may be, shall take place. Such notice also shall specify the date as of which the holders of Common Stock of record shall participate in such dividend, distribution or subscription rights, or shall be entitled to exchange their certificates for
Common Stock for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, disposition, dissolution, liquidation or winding-up, as the case may be. Such notice shall be given at least twenty
(20) days prior to the action in question and not less than ten (10) days prior to the record date or the date on which the Issuer’s transfer books are closed in respect thereto. This Warrant entitles the Holder to receive copies of
all financial and other information distributed or required to be distributed to the holders of the Common Stock. 
  

 -10- 

 9. Amendment and Waiver. Any term, covenant, agreement or condition in this Warrant
may be amended, or compliance therewith may be waived (either generally or in a particular instance and either retroactively or prospectively), by a written instrument or written instruments executed by the Issuer and the Holder; provided,
however, that no such amendment or waiver shall reduce the Warrant Share Number, increase the Warrant Price, shorten the period during which this Warrant may be exercised or modify any provision of this Section 9 without the consent of
the Holder of this Warrant. No consideration shall be offered or paid to any person to amend or consent to a waiver or modification of any provision of this Warrant unless the same consideration is also offered to all holders of the Warrants.

 10. Governing Law; Jurisdiction. This Warrant shall be governed by and construed in accordance with the internal laws
of the State of Florida, without giving effect to any of the conflicts of law principles which would result in the application of the substantive law of another jurisdiction. This Warrant shall not be interpreted or construed with any presumption
against the party causing this Warrant to be drafted. The Issuer and the Holder agree that venue for any dispute arising under this Warrant will lie exclusively in the state or federal courts located in Hillsborough County, Florida, and the parties
irrevocably waive any right to raise forum non conveniens or any other argument that Florida is not the proper venue. The Issuer and the Holder irrevocably consent to personal jurisdiction in the state and federal courts of the state of
Florida. The Issuer and the Holder consent to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address in effect for notices to it under this Warrant and agrees that such service shall
constitute good and sufficient service of process and notice thereof. Nothing in this Section 10 shall affect or limit any right to serve process in any other manner permitted by law. The Issuer agrees to pay all costs and expenses of
enforcement of this Warrant, including, without limitation, reasonable attorneys’ fees and expenses. The parties hereby waive all rights to a trial by jury. 

11. Notices. All notices, requests, consents or other communications required or permitted hereunder shall be in writing and shall
be hand delivered or mailed first class postage prepaid, registered or certified mail, to the following address: 
 In the case
of the Issuer: 
 Joe Crisafi, Chief Financial Officer 

Comprehensive Care Corporation 

3405 W. Martin Luther King Jr. Blvd, Suite 101 

Tampa, FL 33607 

In the case of the Holder, to such Holder c/o: 
  

					
	Walter A. Schwarting	 		 	
	  
	 		 	
	  
	 		 	

  

 -11- 

 Such notices and other communications shall, for all purposes of this Agreement, be treated
as being effective upon being delivered personally or, if sent by mail, five days after the same has been deposited in a regularly maintained receptacle for the deposit of United States mail, addressed as set forth above, and postage prepaid. Any
party hereto may from time to time change its address for notices by giving written notice of such changed address to the other party hereto. 

12. Remedies. The Issuer stipulates that the remedies at law of the Holder of this Warrant in the event of any default or
threatened default by the Issuer in the performance of or compliance with any of the terms of this Warrant are not and will not be adequate and that, to the fullest extent permitted by law, such terms may be specifically enforced by a decree for the
specific performance of any agreement contained herein or by an injunction against a violation of any of the terms hereof or otherwise. 

13. Successors and Assigns. This Warrant and the rights evidenced hereby shall inure to the benefit of and be binding upon the
successors and assigns of the Issuer, the Holder hereof and (to the extent provided herein) the Holders of Warrant Stock issued pursuant hereto, and shall be enforceable by any such Holder or Holder of Warrant Stock. 

14. Modification and Severability. If, in any action before any court or agency legally empowered to enforce any provision
contained herein, any provision hereof is found to be unenforceable, then such provision shall be deemed modified to the extent necessary to make it enforceable by such court or agency. If any such provision is not enforceable as set forth in the
preceding sentence, the unenforceability of such provision shall not affect the other provisions of this Warrant, but this Warrant shall be construed as if such unenforceable provision had never been contained herein. 

15. Headings. The headings of the Sections of this Warrant are for convenience of reference only and shall not, for any purpose,
be deemed a part of this Warrant. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 

 -12- 

 IN WITNESS WHEREOF, the Issuer has executed this Warrant as of the day and year first above
written. 
  

			
	COMPREHENSIVE CARE CORPORATION
		
	By:	 	  

		 	Name: Giuseppe Crisafi
		 	Title:   Chief Financial Officer

  

 -13- 

 APPENDIX A 

WARRANT EXERCISE FORM 

COMPREHENSIVE CARE CORPORATION 

The undersigned                     , pursuant
to the provisions of the within Warrant, hereby elects to purchase              shares of Common Stock, par value $0.01 per share, of Comprehensive Care Corporation covered by the
within Warrant. 
  

											
	Dated:                            
             	 		 	Signature	  	  
	  	
						
		 		 	Address	  	  
	 		  	
		 		 		  	  
	 		  	

 Number of shares of Common Stock beneficially owned or deemed beneficially owned by the Holder on the date of
Exercise:
                                        

 The undersigned is an “accredited investor” as defined in Regulation D under the Securities Act of 1933, as amended. 

The Holder shall pay the sum of $             by certified or official bank check (or
via wire transfer) to the Issuer, or shall otherwise tender consideration in accordance with the terms of the Warrant. 
  

 -14- 

 ASSIGNMENT 

FOR VALUE RECEIVED,                     
hereby sells, assigns and transfers unto                      the within Warrant and all rights evidenced thereby and does irrevocably
constitute and appoint                     , attorney, to transfer the said Warrant on the books of the within named corporation. 

 

											
	Dated:                            
             	 		 	Signature	  	  
	  	
						
		 		 	Address	  	  
	 		  	
		 		 		  	  
	 		  	

 PARTIAL ASSIGNMENT 

FOR VALUE RECEIVED,                     
hereby sells, assigns and transfers unto                      the right to purchase
                     shares of Warrant Stock evidenced by the within Warrant together with all rights therein, and does irrevocably constitute
and appoint                     , attorney, to transfer that part of the said Warrant on the books of the within named corporation.

  

											
	Dated:                            
             	 		 	Signature	  	  
	  	
						
		 		 	Address	  	  
	 		  	
		 		 		  	  
	 		  	

 FOR USE BY THE ISSUER ONLY: 

This Warrant No. W-             canceled (or transferred or exchanged) this
             day of                 ,
            , shares of Common Stock issued therefor in the name of
                    , Warrant No. W-             issued for
             shares of Common Stock in the name of                     .

  

 -15-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]