Document:

Exhibit
10.3

 

AMENDMENT
NO. 1 TO

LOAN
AND SECURITY AGREEMENT

 

This
Amendment No. 1 (“Amendment No. 1”) is made this 10th day of February, 2015, by and between InterCore, Inc., a Delaware
corporation (“InterCore”), and SRG International, Inc., a Canadian corporation (“SRG”) on the one hand;
and Rhine Partners, LP, a Texas limited partnership (the “Lender”), on the other hand, to amend the terms of that
certain Loan and Security Agreement dated May 5, 2014, and entered into by and between the parties (the “Loan Agreement”).
Together InterCore and SRG are referred to herein as the “Companies”. Each of the Companies and Rhine shall be referred
to herein as a “Party” and collectively as the “Parties”. In the event the terms of the Loan Agreement
and this Amendment No. 1 conflict, the terms of this Amendment No. 1 control. Any defined terms herein that are not defined herein
have the meaning set forth in the Loan Agreement.

 

WHEREAS,
in the Loan Agreement, Lender agreed to loan the Companies up to Four Million Dollars ($4,000,000), and in exchange received the
Loan Agreement covering the terms of the loan, including, but not limited to, the Companies’ repayment terms and a warrant
to purchase Two Million (2,000,000) shares of InterCore’s common stock (the “Warrant”);

 

WHEREAS,
under Section 8 of the Loan Agreement the principal amount due by the Companies is convertible by Rhine, at any time, into either
shares of InterCore’s Series D Preferred Stock or into shares of InterCore’s common stock;

 

WHEREAS,
at the time of entering into the Loan Agreement the Parties agreed that Rhine would not be able to convert principal amount due
under the Loan Agreement into shares of InterCore’s common stock, or exercise the Warrant to acquire shares of InterCore’s
common stock, if the receipt of shares of InterCore’s common stock would cause Rhine to own more than 9.99% of InterCore’s
common stock;

 

WHEREAS,
the 9.99% limiter was inadvertently omitted from the Loan Agreement and the Warrant, and the parties want to correct the Loan
Agreement so it contains the agreed upon 9.99% limiter and to amend the Warrant so that it contains the appropriate 9.99% limiter.

 

In
consideration of good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree:
(i) that the Warrant is hereby amended to prohibit the Lender to exercise the Warrant if such exercise would cause Lender to beneficially
own in excess of 9.99% of the then issued and outstanding shares of InterCore common stock, including the shares issuable upon
such exercise and held by the Lender after application of the exercise, (ii) to issue Rhine a new warrant to replace the existing
Warrant, and (ii) to this Amendment to the Loan Agreement, such that Section 8 of the Loan Agreement is hereby amended by deleting
Section 8 in its entirety and replacing Section 8 with the following:

 

“8.
Conversion. Outstanding Principal may be converted at the election of the Lender at any time into Series D Preferred Shares
at the price of $10.00 per share; or into restricted common stock at a price of a 60% discount to market based on the average
closing price of the preceding five days. The right to convert the Outstanding Principal can be exercised up to five days after
the Borrower has tendered repayment of the Principal. Notwithstanding the above, Lender may not exercise its rights to convert
the Outstanding Principal due hereunder into restricted shares of InterCore common stock if such conversion would result in Lender,
together with any affiliate thereof, beneficially owning (as determined in accordance with Section 13(d) of the Securities Exchange
Act of 1934, as amended (the "Exchange Act") and the rules promulgated thereunder) in excess of 9.99% of the then issued
and outstanding shares of InterCore common stock, including the shares issuable upon such conversion and held by the Lender after
application of this Section. The provisions of this Section may be waived by Lender upon not less than 61 days prior notice to
InterCore.”

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto, by their duly authorized officers or other authorized signatory, have executed this Amendment
No. 1 as of the date first above written. This Amendment No. 1 may be signed in counterparts and facsimile signatures are treated
as original signatures.

 

 

	“InterCore”	“SRG”	 
	 	 	 
	InterCore,
    Inc.	SRG
    International, Inc.,	 
	a
    Delaware corporation	a
    Canadian corporation	 
	 	 	 
	 	 	 
	/s/James
    F. Groelinger	/s/Raphael
    Huppe	 
	By:James
    F. Groelinger	By:Raphael
    Huppe	 
	Its:Chief
    Executive Officer	Its:Chief
    Technology Officer	 
	 	 	 
	 	 	 
	 	 	 
	“Lender”	 	 
	 	 	 
	Rhine
    Partners, LP	 	 
	a
    Texas limited partnership	 	 
	 	 	 
		 	 
	/s/        
    Trisha Grencer   	 	 
	By:
          Trisha Grencer, Funding Managing	 	 
	Richson
    Investments, LLC, its General PartnerExhibit 10.1

 

FIRST AMENDMENT AND ACKNOWLEDGEMENT

 

This FIRST AMENDMENT AND ACKNOWLEDGEMENT
(this “Amendment”), dated as of February 6, 2015, is entered into among APOLLO
Medical Holdings, Inc., a Delaware corporation (“Company”), NNA
of Nevada, Inc., a Nevada corporation (“Purchaser”), WARREN HOSSEINION, M.D. and ADRIAN
VAZQUEZ, M.D..

 

RECITALS

 

A.Reference is made to the Investment
Agreement, dated as of March 28, 2014, between the Company and the Purchaser (the “Investment Agreement”). Capitalized
terms not otherwise defined herein shall have the meanings given to such terms in the Investment Agreement and in the Registration
Rights Agreement, the Convertible Note and the Warrants (as such terms are defined in the Investment Agreement), as applicable.

 

B.The Company (i) is required to file
the Initial Registration Statement on or prior to the Filing Deadline pursuant to Section 2(a) of the Registration Rights Agreement
and (ii) is prohibited from preparing and filing with the Commission a registration statement relating to an offering for its own
account as set forth in Section 6(b) of the Registration Rights Agreement.

 

C.The Company has requested the Purchaser
to waive the requirements described in paragraph B above so that the Company can file a registration statement relating to the
consummation of an offering exclusively for its own account for a sale that will occur by May 29, 2015 (the “Company Sale”).

 

D. The Purchaser has agreed to provide
such waivers to allow for the Company Sale without first requiring the Initial Registration Statement to be filed on or prior to
the Filing Deadline based upon the terms and subject to the conditions set forth herein.

 

STATEMENT OF AGREEMENT

 

NOW, THEREFORE, in consideration
of the mutual provisions, covenants and agreements herein contained, the parties hereto hereby agree as follows:

 

 

ARTICLE
I

AMENDMENTS
TO REGISTRATION RIGHTS AGREEMENT

 

1.1Section 1 of
the Registration Rights Agreement is hereby amended by inserting in appropriate alphabetical order the following definitions:

 

    	 

    	 

    

 

“Company
Sale” shall have the meaning set forth in the Preamble of the First Amendment.

 

“First
Amendment” means the First Amendment and Acknowledgement, dated as of February 6, 2015, among the Company, the Purchaser,
Warren Hosseinion, M.D. and Adrian Vazquez, M.D.

 

1.2The definition
of “Effectiveness Target” set forth in Section 1 of the Registration Rights Agreement is hereby amended by replacing
the reference to “540th” with “630th”.

 

1.3The definition
of “Filing Deadline” set forth in Section 1 of the Registration Rights Agreement is hereby amended by replacing the
reference to “365th” with “455th”; provided, however, if the Company
Sale shall occur then the Filing Deadline shall mean:

 

“Filing
Deadline” means, with respect to the Initial Registration Statement required to be filed pursuant to Section 2(a), the
125th calendar day following the date of the Company Sale, provided, that if the Filing Deadline falls on a Saturday,
Sunday or other day that the Commission is closed for business, the Filing Deadline shall be extended to the next business day
on which the Commission is open for business.

 

1.4Section 6(b)
of the Registration Rights Agreement is hereby amended by replacing the word “The” at the beginning of the first sentence
thereof with the phrase “Except with respect to the Company Sale, the”.

 

ARTICLE
II

AMENDMENTS
TO THE Investment AGreement, the WARRANTS and THE CONVERTIBLE NOTE

 

2.1Section 1.1
of the Investment Agreement is hereby amended by inserting in appropriate alphabetical order the following definitions:

 

“Company
Sale” shall have the meaning set forth in the Preamble of the First Amendment.

 

“First
Amendment” means the First Amendment and Acknowledgement, dated as of February 6, 2015, among the Company, the Purchaser,
Warren Hosseinion, M.D. and Adrian Vazquez, M.D.

 

2.2The Investment
Agreement, the Warrants and the Convertible Note are hereby amended, as applicable, so that the defined terms of “Exempt
Issuance”, “Qualified IPO” and “Company’s Next Financing”, wherever so used or referred to,
shall be amended by inserting the following phrases:

 

(a)“;
provided that in no event shall an Exempt Issuance or a Qualified IPO be deemed to include the Company Sale” at the end of
the definitions of “Exempt Issuance” and “Qualified IPO”; and

 

    	 

    	 

    

 

(b)“;
provided that in no event shall the Company’s Next Financing be deemed to include the Company Sale” at the end of the
definition of “Company’s Next Financing”.

 

ARTICLE
III

ACKNOWLEDGEMENT

 

Each of Warren Hosseinion,
M.D. and Adrian Vazquez, M.D. acknowledge that the terms and conditions of the Shareholders’ Agreement, dated as of March
28, 2014, to which they are a party, together with the Purchaser and the Company, remain in full force and effect, including without
limitation the tag along rights of the Purchaser set forth in Section 3 thereof. This acknowledgement and confirmation of Warren
Hosseinion, M.D. and Adrian Vazquez, M.D. is made and delivered to induce the Purchaser to enter into this Amendment, and Warren
Hosseinion, M.D. and Adrian Vazquez, M.D. acknowledges that the Purchaser would not enter into this Amendment in the absence of
the acknowledgement and confirmation contained herein.

 

ARTICLE
IV

CONDITIONS
TO EFFECTIVENESS

 

This Amendment, including without limitation
the amendments set forth in Articles I and II, shall become effective on the date (such date being referred to as the “Effective
Date”) when the Purchaser, the Company, Warren Hosseinion, M.D. and Adrian Vazquez, M.D. shall have executed and delivered
to each other counterparts of this Amendment.

 

ARTICLE
V

REPRESENTATIONS
AND WARRANTIES

 

The Company represents and warrants to Purchaser
that (i) this Amendment has been duly authorized, executed and delivered by the Company and constitutes the legal, valid and binding
obligation of the Company enforceable against it in accordance with its terms, and (ii) no Default or Event of Default has occurred
and is continuing under the Convertible Note or the Credit Documents.

 

ARTICLE
VI

ACKNOWLEDGEMENT
AND CONFIRMATION OF THE COMPANY

 

The Company hereby confirms and agrees that,
after giving effect to this Amendment, the Registration Rights Agreement, the Investment Agreement, the Warrants, the Convertible
Note and the other Transaction Documents remain in full force and effect and enforceable against the Company in accordance with
its respective terms and shall not be discharged, diminished, limited or otherwise affected in any respect, other than as amended
by this Amendment, and the amendments contained herein shall not, in any manner, be construed to constitute payment of, or
impair, limit, cancel or extinguish, any rights of the Purchaser in any of the Transaction Documents, which shall not in any manner
be impaired, limited, terminated, waived or released, but shall continue in full force and effect. The Company represents and warrants
to Purchaser that it has no knowledge of any claims, counterclaims, offsets, or defenses to or with respect to its obligations
under the Investment Agreement or the other Transaction Documents, or if the Company has any such claims, counterclaims, offsets,
or defenses to the Investment Agreement or any other Transaction Document the same are hereby waived, relinquished, and released
in consideration of the execution of this Amendment.

 

    	 

    	 

    

 

In addition to the foregoing, the Company
agrees to deliver to Purchaser, concurrently upon filing with the Commission, any registration statement (together with any related
prospectus or prospectus supplement) in connection with the Company Sale, including any amendments and supplements to any such
registration statement, including post-effective amendments, all exhibits and all material incorporated by reference or deemed
to be incorporated by reference in any such registration statement.

 

This acknowledgement and confirmation of
the Company is made and delivered to induce the Purchaser to enter into this Amendment, and the Company acknowledges that the Purchaser
would not enter into this Amendment in the absence of the acknowledgement and confirmation contained herein.

 

ARTICLE
VII

Purchaser
Waiver

 

The Purchaser hereby
waives its rights to participate pursuant to Section 6.3 of the Investment Agreement in the Company Sale and waives any notice
requirements of the Company that are set forth in Section 6.3(b) of the Investment Agreement with respect to the Company Sale.

 

ARTICLE
VIII

MISCELLANEOUS

 

8.1Governing
Law. This Amendment shall be governed by, and construed in accordance with, the law of the State of New York (including Sections
5-1401 and 5-1402 of the New York General Obligations Law, but excluding all other choice of law and conflicts of law rules).

 

8.2Full Force
and Effect. Except as expressly amended hereby, the Investment Agreement and the other Transaction Documents shall continue
in full force and effect in accordance with the provisions thereof on the date hereof. As used in the Investment Agreement or any
other Transaction Document, “hereinafter,” “hereto,” “hereof,” and words of similar import
shall, unless the context otherwise requires, mean the Investment Agreement or such other applicable Transaction Document after
giving effect to this Amendment. Any reference to the Investment Agreement or any of the other Transaction Documents shall refer
to the Investment Agreement and the applicable Transaction Documents as amended hereby. This Amendment is limited as specified
and shall not constitute or be deemed to constitute an amendment, modification or waiver of any provision of the Investment Agreement
or any other Transaction Document except as expressly set forth herein. This Amendment shall constitute a Transaction Document.

 

    	 

    	 

    

 

8.3Severability.
To the extent any provision of this Amendment is prohibited by or invalid under the applicable law of any jurisdiction, such provision
shall be ineffective only to the extent of such prohibition or invalidity and only in any such jurisdiction, without prohibiting
or invalidating such provision in any other jurisdiction or the remaining provisions of this Amendment in any jurisdiction.

 

8.4Successors
and Assigns. This Amendment shall be binding upon, inure to the benefit of and be enforceable by the respective successors
and permitted assigns of the parties hereto.

 

8.5Construction.
The headings of the various sections and subsections of this Amendment have been inserted for convenience only and shall not in
any way affect the meaning or construction of any of the provisions hereof.

 

8.6Counterparts.
This Amendment may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of
which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.
Delivery of an executed counterpart of a signature page of this Amendment by telecopy shall be effective as delivery of a manually
executed counterpart of this Amendment.

 

[remainder of page intentionally left blank]

 

 

    	 

    	 

    

 

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

 

	 	Company:
	 	 	 
	 	APOLLO medical holdings, inc.
	 	 	 
	 	By:  	/s/ Warren Hosseinion
	 	Name:  	 Warren Hosseinion
	 	Title:  	CEO
	 	 	 
	 	 	 
	 	Purchaser:
	 	 	 
	 	NNA OF NEVADA, INC.
	 	 	 
	 	By:  	/s/ Mark Fawcett
	 	Name:  	 Mark Fawcett
	 	Title:  	Vice President & Treasurer
	 	 
	 	 
	 	WARREN HOSSEINION, M.D.
	 	 	 
	 	 	/s/ Warren Hosseinion
	 		 
	 	 	 
	 	ADRIAN VAZQUEZ,  M.D.
	 	 	 
	 	 	/s/ Adrian Vazuez

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