Document:

Ex 10.10(viii)

Exhibit 10.10(viii)

[Letterhead of Clearwater Paper Corporation]

[Date]

[Name] 
[Address] 
[Address]
Re:  Deferral of RSU Settlements
Dear ____________:
You have ________ Restricted Stock Units (RSUs) scheduled to vest on December 31, 20__.  Ordinarily we would transfer to you the number of shares of Clearwater Paper common stock (“Shares”) corresponding to your fully vested RSUs within a period of days after the vesting date.  However, because the compensation from your RSUs will exceed the amount deductible by Clearwater Paper for federal income tax purposes, we are required to defer the delivery of all or a portion of these Shares until a later date.  
The remainder of this letter explains in more detail the reasons for this deferral and how it will be administered in practice.  
Why must delivery of the Shares be deferred? 
Section 12 of your RSU Agreements provides for an automatic deferral of RSU compensation to the extent that compensation would exceed the amount deductible by Clearwater Paper under Section 162(m) of the Internal Revenue Code at the time the RSU award vests.   
Section 162(m) imposes a $1 million cap on the tax deduction that can be claimed by Clearwater Paper for compensation paid to any “covered employee” during a calendar year.  Our “covered employees” for any calendar year are the CEO and the three most highly compensated executive officers, other than the CFO, who are employed as of the end of the year.  Performance-based compensation, such as our Performance Share awards and Annual Incentive Plan bonuses, is exempt from the $1 million limit, but RSUs are not considered “performance-based” and thus are subject to the limit.  
We are expecting that you will be one of our “covered employees” for 20__, and that your total non-performance based compensation for 20__ will exceed the $1 million deduction limit.  That means you will be subject to the deferral requirement.
How is the amount to be deferred calculated?  
As of December 31, 20__, we will determine whether the value of your RSUs vesting on that date, plus your other non-performance based compensation for 20__, exceeds the $1 million deduction limit.  The value of your RSUs for this purpose will be determined by multiplying the number of fully vested RSUs by the closing selling price per Share on the NYSE on December 31, 20__ (or the last day of trading in 20__, if earlier).  If your total non-performance based compensation exceeds $1 million, we will divide the excess amount by the same price per Share to determine the number of Shares under your RSU award that must be deferred.  

1

When will the deferred Shares be paid? 
Under Section 12 of your RSU Agreement, the deferred Shares will be settled after we have determined that deduction of the payment will not be barred by Section 162(m).  That means payment will be made to you after any one of the following events occurs:
		
	•
	You terminate employment with Clearwater Paper and its affiliates;

		
	•
	You continue employment with Clearwater Paper, but you cease to be a “covered employee,” i.e., you cease to be CEO or one of the top 3 highest paid executive officers other than the CFO; or

		
	•
	You continue employment with Clearwater Paper and remain a “covered employee,” but you have room under the $1 million deduction cap to receive additional non-performance based compensation at year-end. 

In the first situation, we will deliver all of the deferred Shares to you (subject to applicable withholding taxes) as soon as practicable after your termination of employment.  While that delivery would normally occur within 60 days after your termination of employment, it is likely we will have to delay delivery for at least 6 months after your termination of employment to comply with Section 409A of the Internal Revenue Code.  
In the second situation, we will deliver all of the deferred Shares to you (subject to applicable withholding taxes) at or near the end of the calendar year in which you ceased be a “covered employee,” but no later than 60 days after the end of that year.  
In the third situation, we will perform a year-end calculation to determine the maximum number of Shares that can be delivered to you.  We would first determine the maximum amount of RSU award compensation that, when added to your other non-performance based compensation for that calendar year, would not exceed the $1 million limit, and then divide that amount by the closing selling price per Share on the NYSE on December 31 (or the last day of trading, if earlier) of that year.  The resulting number of Shares will be paid to you (subject to applicable withholding taxes) no later than 60 days after the end of that calendar year.  Any Shares that cannot be paid to you at that time will continue to be deferred until they can be paid to you under one of the three scenarios described above.  
Will the deferred Shares be eligible for dividends?
Your deferred Shares will be credited with dividend equivalents if and when Clearwater Paper pays dividends on its outstanding Shares.  The dividend amounts will be deemed invested in additional Shares, which will be paid to you at the same time or times as the original deferred Shares are paid to you.  

2

When is the compensation for deferred RSU awards reported for federal income tax purposes?
Normally, when RSUs vest in a particular calendar year, we report on Form W-2 the fair market value of all of the underlying Shares as “wages” subject to income tax and FICA tax withholding for that year.  Since the settlement of a portion of your RSUs will be deferred, however, the tax reporting will be different.  
The fair market value of the Shares that are being delivered to you (i.e., that are not being deferred) will be included in your Form W-2 for the year of vesting, and will be subject to both income tax and FICA tax withholding.  The Shares that are deferred will not be reported for income tax purposes until they are later paid to you.  However, the fair market value of those deferred Shares will need to be reported for FICA tax purposes in the year of vesting.  There will be no additional FICA taxes payable on the deferred Shares when the Shares are later paid to you, even if the Shares have appreciated in value prior to that time. 
We are permitted to treat the “wages” for the deferred Shares as arising at the end of the calendar year of vesting, when you should have exceeded Social Security wage base for the year ($__________ for 20__).  So the only portion of the FICA tax that should apply to the deferred Shares is the ____% Medicare tax.  Arrangements will be made to have the ____% Medicare tax paid by withholding a portion of the Shares that are not being deferred. However, if 100% of the Shares are to be deferred, then you will be required to provide payment for the Medicare tax owed at the time the Shares would normally be distributed.
*    *    *

3

If you have any questions about this letter, please contact _________________ at _________.
To confirm that you understand and agree with the deferral terms described in this letter, please sign and date this letter where indicated below.  You should retain a copy of this letter for your records, and return the signed original to ____________________ at __________________.
Sincerely,
[Name] 
[Title]

Acknowledged and agreed:

______________________________ 
[Name]
Date:  _________________________

4exibit10.1-01

Exhibit 10.1

EXECUTION COPY

FIRST AMENDMENT  
dated as of November 1, 2012 to the 
 
CREDIT AGREEMENT 
dated as of June 29, 2011, 
 
among 
 
TEAM HEALTH HOLDINGS, INC., 
as Holdings, 
 
TEAM HEALTH, INC., 
as the Borrower, 
 
JPMORGAN CHASE BANK, N.A., 
as Administrative Agent, Swing Line Lender and L/C Issuer, 
 
and 
 
The LENDERS Party Hereto
___________________________
J.P. MORGAN SECURITIES LLC, 
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 
BARCLAYS BANK PLC,
CITIGROUP GLOBAL MARKETS INC.
and
GOLDMAN SACHS LENDING PARTNERS LLC,
as Joint Bookrunners,

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 
as Syndication Agent,
and
BARCLAYS BANK PLC,
CITIGROUP GLOBAL MARKETS INC.,
GOLDMAN SACHS LENDING PARTNERS LLC, 
FIFTH THIRD BANK,
REGIONS BANK and 
WELLS FARGO BANK, NATIONAL ASSOCIATION 
as Co-Documentation Agents

        
        
        

 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

FIRST AMENDMENT

FIRST AMENDMENT, dated as of November 1, 2012 (this “Amendment Agreement”), to the Credit Agreement, dated as of June 29, 2011 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Team Health Holdings, Inc., a Delaware corporation (“Holdings”), Team Health, Inc., a Tennessee corporation (the “Borrower”), each lender from time to time party thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as Syndication Agent (capitalized terms used but not defined herein having the meaning provided in the Credit Agreement). 

W I T N E S S E T H

WHEREAS, pursuant to the Credit Agreement, (a) the Tranche A Term Lenders have made Tranche A Term Loans (the “Existing Tranche A Term Loans”) to the Borrower and (b) the Revolving Credit Lenders have made Revolving Credit Commitments (the “Existing Revolving Commitments”) and Revolving Credit Loans (the “Existing Revolving Loans” and, together with the Existing Tranche A Term Loans outstanding immediately prior to the First Amendment Effective Date (as defined below), the “Existing Loans”) to the Borrower; 

WHEREAS, each Tranche A Term Lender with outstanding Existing Tranche A Term Loans (each, an “Existing Tranche A Lender”) and each Revolving Credit Lender with outstanding Existing Revolving Commitments (each, an “Existing Revolving Lender”) that executes and delivers a signature page to this Amendment Agreement as a “Continuing Lender” (each, a “Continuing Lender”) at or prior to 3:00 p.m., New York City time, on October 31, 2012 (the “Signing Date”) will have agreed to the terms of this Amendment Agreement, upon the effectiveness of this Amendment Agreement on the First Amendment Effective Date.  Each Existing Tranche A Lender and Existing Revolving Lender that does not execute and deliver a signature page to this Amendment Agreement at or prior to the Signing Date (each, a “Departing Lender”) will be deemed not to have agreed to this Amendment Agreement, and will be subject to the mandatory assignment provisions of Section 3.07 of the Credit Agreement upon the effectiveness of this Amendment Agreement on the First Amendment Effective Date;

WHEREAS, on the First Amendment Effective Date, the Borrower intends to (a) incur additional Tranche A Term Loans in an aggregate principal amount not to exceed $134,375,000 (the “Additional Term Loans”) and (b) use the net cash proceeds of the Additional Term Loans for general corporate purposes and to pay fees, costs and expenses incurred in connection with the Additional Term Loans, the Revolving Commitment Increase (as defined below), this Amendment Agreement and the transactions contemplated hereby; 

WHEREAS, the Borrower has requested that increases in the amount of the Revolving Credit Commitments be made available to the Borrower by an amount equal to $25,000,000 (the “Revolving Commitment Increase”; the commitment of each Revolving Credit 

        
        
        

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Lender to provide its applicable portion of the Revolving Commitment Increase, each an “Additional Revolving Credit Commitment”), and the Revolving Credit Lenders set forth on Schedule I hereto that are providing Additional Revolving Credit Commitments (such Lenders, the “Commitment Increase Lenders”) and the Administrative Agent have agreed, upon the terms and subject to the conditions set forth herein and in the Credit Agreement, that the Commitment Increase Lenders will provide the Revolving Commitment Increase;

WHEREAS, effective as of the First Amendment Effective Date, each Tranche A Term Lender set forth on Schedule I hereto will constitute a “Tranche A Term Lender”, a “Term Lender” and a “Lender”, and each Revolving Credit Lender set forth on Schedule I hereto will constitute a “Revolving Credit Lender” and a “Lender”, in each case, for all purposes of the Credit Agreement and the Loan Documents;

WHEREAS, the Borrower and the Required Lenders desire to amend the Credit Agreement to increase the aggregate principal amount of the Incremental Facilities up to the greater of (x) $250,000,000 and (y) an amount such that, after giving pro forma effect to such incremental facilities, the First Lien Leverage Ratio does not exceed 3.75:1.00 as described herein; and

WHEREAS, Holdings, the Borrower and the Required Lenders desire to amend the Credit Agreement to, among other things, (a) reduce the Applicable Rate applicable to the Tranche A Term Loans and Revolving Credit Loans, (b) extend the Maturity Date for the Revolving Credit Facility and the Tranche A Term Loan Facility and (c) modify certain other terms and conditions of the Credit Agreement.

NOW, THEREFORE, the parties hereto agree as follows:

SECTION 1.  Assignment of Existing Tranche A Term Loans, Existing Revolving Loans and Existing Revolving Commitments.  Pursuant to Section 3.07 of the Credit Agreement, on the First Amendment Effective Date, each Departing Lender shall be deemed (a) to have assigned its Existing Tranche A Term Loans and any outstanding Existing Revolving Loans, as applicable, to JPMorgan Chase Bank, N.A., as assignee, at a purchase price equal to par plus accrued and unpaid interest through but excluding the First Amendment Effective Date (the “Purchase Price”) and (b) to have assigned to JPMorgan Chase Bank, N.A. its Existing Revolving Commitments.  Upon payment to a Departing Lender of the Purchase Price with respect to its Existing Tranche A Term Loans or Existing Revolving Commitments (and any outstanding Existing Revolving Loans), as applicable (but without the requirement of any further action on the part of such Departing Lender, Holdings, the Borrower or the Administrative Agent), such Departing Lender shall cease to be a party to the Credit Agreement (and shall not become a party to the Credit Agreement, as amended by this Amendment Agreement); provided, however, that any Departing Lender that is a Tranche B Term Lender shall continue to be a party to the Credit Agreement in its capacity as a Tranche B Term Lender.

SECTION 2.  Concerning the Additional Term Loans, Revolving Commitment Increase and Additional Commitments.  (a) Subject to the terms and conditions set forth herein, 

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on the First Amendment Effective Date and after giving effect to the assignments set forth in Section 1 of this Amendment Agreement, (i) each Tranche A Term Lender party hereto that is not a Departing Lender agrees to fund Additional Term Loans and/or assume from JPMorgan Chase Bank, N.A. Existing Tranche A Term Loans for a purchase price of par having an aggregate principal amount equal to such Tranche A Term Lender’s Tranche A Term Commitment set forth on Schedule I hereto less the amount of Existing Tranche A Term Loans of such Tranche A Term Lender on such date and (ii) each Revolving Credit Lender party hereto that is not a Departing Lender agrees to assume from JPMorgan Chase Bank, N.A. (A) Existing Revolving Commitments in an aggregate principal amount equal to such Revolving Credit Lender’s Revolving Credit Commitment set forth on Schedule I hereto less the amount of Existing Revolving Commitments of such Revolving Credit Lender on such date and (B) Existing Revolving Loans for a purchase price of par having an aggregate principal amount equal to such Revolving Credit Lender’s Pro Rata Share of the Revolving Credit Commitments (after giving effect to any assignment of Revolving Credit Commitments pursuant to this Section 2(a) and the Revolving Commitment Increase pursuant to Section 2(b)) less the amount of Existing Revolving Loans of such Revolving Credit Lender on such date.

(b) Effective as of the First Amendment Effective Date, (i) each Commitment Increase Lender agrees to provide its Revolving Credit Commitment in the amount set forth opposite its name on Schedule I hereto, and (ii) as a result of the Revolving Commitment Increase, the total Revolving Credit Commitments shall be increased to $250,000,000.

(c) On the First Amendment Effective Date, each Commitment Increase Lender shall fund to the Administrative Agent for the account of the Borrower an amount equal to the amount by which (i) such Commitment Increase Lender’s pro rata share of the aggregate principal amount of Revolving Credit Loans outstanding immediately prior to the First Amendment Effective Date and after giving effect to any assignment of Revolving Credit Commitments pursuant to Section 2(a) hereof, determined based on the total Revolving Credit Commitments immediately after giving effect to the Revolving Commitment Increase, exceeds (ii) such Commitment Increase Lender’s pro rata share of the aggregate principal amount of Revolving Credit Loans outstanding immediately prior to the First Amendment Effective Date, determined based on the total Revolving Credit Commitments after giving effect to any assignment of Revolving Credit Commitments pursuant to Section 2(a) hereof and without giving effect to the Revolving Commitment Increase (such amount, the “Funded Incremental Loans”).

(d) The Borrower shall (i) make an optional prepayment of Revolving Credit Loans in accordance with Section 2.05 of the Credit Agreement (other than the minimum amount requirements set forth therein) on the First Amendment Effective Date in an amount equal to the amount of the Funded Incremental Loans (it being understood and agreed that the proceeds from the Funded Incremental Loans shall constitute the principal amount required to be paid by the Borrower to the Administrative Agent in connection with such optional prepayment) and (ii) pay to the Administrative Agent an amount equal to the accrued but unpaid interest on such portion of such Revolving Credit Loans so prepaid, and the Administrative Agent shall apply the entire amount of the Funded Incremental Loans and the amounts paid to the Administrative Agent 

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pursuant to this clause (ii) above to effect a prepayment of the Revolving Credit Loans of the Revolving Credit Lenders (other than the Commitment Increase Lenders) in accordance with Sections 2.05 and 2.12 of the Credit Agreement; provided that, for the avoidance of doubt, the proceeds of the Funded Incremental Loans and the amounts set forth in clause (i) above shall be applied to prepay Revolving Credit Loans of Existing Revolving Lenders (including any Departing Lenders) in an amount such that, after giving effect to the prepayments, each Revolving Lender shall have Revolving Credit Loans outstanding equal to such Lender’s pro rata share based on the Revolving Credit Commitments set forth on Schedule I hereto, which pro rata share shall be $0 for each Departing Lender.  The Commitment Increase Lenders hereby agree to waive the requirement set forth in Section 2.05(a)(i) of the Credit Agreement solely with respect to the optional prepayment to be effected pursuant to this Section 2(d).

(e) Each Funded Incremental Loan shall be a Revolving Credit Loan for purposes of this Credit Agreement and the other Loan Documents and shall be allocated among each existing borrowing consisting of Revolving Credit Loans (each, a “Borrowing”) such that, after giving effect to such allocation and the optional prepayment to be effected pursuant to Section 2(d) above, each Revolving Credit Lender (including the Commitment Increase Lenders) shall hold a pro rata share of the Revolving Credit Loans in each Borrowing, determined based on the aggregate amount of Revolving Credit Commitments immediately after giving effect to the Revolving Commitment Increase.

SECTION 3.  Amendment of Credit Agreement.  Effective as of the First Amendment Effective Date, the Credit Agreement is hereby amended as follows:

(a) The first paragraph of the Preliminary Statement is hereby amended and restated in its entirety as follows:

“The Borrower has requested that upon the satisfaction in full of the conditions precedent in Article IV below, the Lenders extend credit to the Borrower in the form of (i) Term Loans in an aggregate principal amount of $521,875,000 and (ii) a Revolving Credit Facility in an aggregate principal amount of $250,000,000.  The Revolving Credit Facility may include one or more Swing Line Loans and one or more Letters of Credit from time to time.”

(b) The following definitions are hereby added in the appropriate alphabetical order to Section 1.01:

“First Amendment” means the First Amendment to this Agreement dated as of November 1, 2012, among Holdings, the Borrower, the lenders party thereto and the Administrative Agent.

“First Amendment Effective Date” means November 1, 2012.

(c) Clause (a) of the definition of the term “Applicable Rate” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:

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“(a) with respect to Tranche A Term Loans, (i) until the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b) in respect of the first full fiscal quarter commencing on or after the First Amendment Effective Date, (x) for Eurocurrency Rate Loans, 1.75% and (y) for Base Rate Loans, 0.75%, and (ii) thereafter, the following percentages per annum, based on the First Lien Net Leverage Ratio for the twelve-month period ended as of the most recent date for which financial statements are required to be delivered to the Administrative Agent pursuant to Section 6.01(b):
	
				
	Pricing Level
	First Lien Net Leverage Ratio
	Eurocurrency Rate
	Base Rate

	1
	> 3.75x
	2.25%
	1.25%

	2
	> 2.50x but < 3.75x
	2.00%
	1.00%

	3
	> 1.75x but < 2.50x
	1.75%
	0.75%

	4
	< 1.75x
	1.50%
	0.50%”

(d) Clause (c) of the definition of the term “Applicable Rate” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:

“(c) with respect to Revolving Credit Loans, unused Revolving Credit Commitments and Letter of Credit fees, (i) until the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b) in respect of the first full fiscal quarter commencing on or after the First Amendment Effective Date, (A) for Eurocurrency Rate Loans, 1.75%, (B) for Base Rate Loans, 0.75%, (C) for Letter of Credit fees, 1.75% and (D) for fees on unused commitments, 0.35% and (ii) thereafter, the following percentages per annum, based upon the First Lien Net Leverage Ratio for the twelve-month period ended as of the most recent date for which financial statements are required to be delivered to the Administrative Agent pursuant to Section 6.01(b):
	
					
	Pricing Level
	First Lien Net Leverage Ratio
	Eurocurrency Rate and Letter of Credit Fees
	Base Rate
	Commitment Fee Rate

	1
	> 3.75x
	2.25%
	1.25%
	0.40%

	2
	> 2.50x but < 3.75x
	2.00%
	1.00%
	0.40%

	3
	> 1.75x but < 2.50x
	1.75%
	0.75%
	0.35%

	4
	< 1.75x
	1.50%
	0.50%
	0.35%”

(e) The definition of the term “Maturity Date” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:

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““Maturity Date” means (a) with respect to the Revolving Credit Facility, November 1, 2017 (or with respect to a Revolving Credit Lender that has extended the maturity date of its Revolving Credit Commitment pursuant to Section 2.15, the extended maturity date set forth in the Loan Modification Agreement), (b) with respect to the Tranche A Term Facility, November 1, 2017 (or with respect to a Tranche A Term Lender that has extended the maturity date of its Tranche A Term Loans pursuant to Section 2.15, the extended maturity date set forth in the Loan Modification Agreement), and (c) with respect to the Tranche B Term Facility, June 29, 2018 (or with respect to a Tranche B Term Lender that has extended the maturity date of its Tranche B Term Loans pursuant to Section 2.15, the extended maturity date set forth in the Loan Modification Agreement).”.
(f) The last sentence of the term “Revolving Credit Commitment” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:  “The aggregate Revolving Credit Commitments of all Revolving Credit Lenders shall be $250,000,000 on the First Amendment Effective Date, as such amount may be adjusted from time to time in accordance with the terms of this Agreement.”.
(g) The last sentence of the term “Tranche A Term Commitment” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:  “The aggregate amount of the Tranche A Term Commitments shall be $275,000,000 on the First Amendment Effective Date.”.
(h) Clause (a) of Section 2.07 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“(a) Tranche A Term Loans.  The Borrower shall repay to the Administrative Agent for the ratable account of the Tranche A Term Lenders in consecutive quarterly installments as follows (which installments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05):

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	DATE
	TRANCHE A TERM LOAN PRINCIPAL AMORTIZATION PAYMENT

	DECEMBER 31, 2012
	

	$3,437,500
	

	MARCH 31, 2013
	

	$3,437,500
	

	JUNE 30, 2013
	

	$3,437,500
	

	SEPTEMBER 30, 2013
	

	$3,437,500
	

	DECEMBER 31, 2013
	

	$3,437,500
	

	MARCH 31, 2014
	

	$3,437,500
	

	JUNE 30, 2014
	

	$3,437,500
	

	SEPTEMBER 30, 2014
	

	$3,437,500
	

	DECEMBER 31, 2014
	

	$5,156,250
	

	MARCH 31, 2015
	

	$5,156,250
	

	JUNE 30, 2015
	

	$5,156,250
	

	SEPTEMBER 30, 2015
	

	$5,156,250
	

	DECEMBER 31, 2015
	

	$6,875,000
	

	MARCH 31, 2016
	

	$6,875,000
	

	JUNE 30, 2016
	

	$6,875,000
	

	SEPTEMBER 30, 2016
	

	$6,875,000
	

	DECEMBER 31, 2016
	

	$6,875,000
	

	MARCH 31,2017
	

	$6,875,000
	

	JUNE 30, 2017
	

	$6,875,000
	

	MATURITY DATE FOR TERM A FACILITY
	

	$178,750,000
	

provided, however, that the final principal repayment installment of the Tranche A Term Loans shall be repaid on the Maturity Date for the Tranche A Term Facility and in any event shall be in an amount equal to the aggregate principal amount of all Tranche A Term Loans outstanding on such date.”
(i) The second sentence of Section 2.14 of the Credit Agreement is hereby amended by replacing the text “$150,000,000” with “$250,000,000”.
(j) Schedule 2.01 of the Credit Agreement shall be replaced in its entirety with Schedule I hereto.
SECTION 4.  Conditions to Effectiveness of Amendment Agreement.  This Amendment Agreement shall become effective as of the first date on which the following occur or have been waived (the “First Amendment Effective Date”): 

(a) The Administrative Agent shall have received a counterpart of (i) this Amendment Agreement, executed and delivered by a duly authorized officer of the Borrower, Holdings, the Required Lenders, each Tranche A Term Lender set forth on Schedule I hereto, each Revolving Credit Lender set forth on Schedule I hereto, and the Administrative Agent and 

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(ii) the Reaffirmation attached to this Amendment Agreement, executed and delivered by a duly authorized officer of each Guarantor.

(b) No Default or Event of Default shall exist on the First Amendment Effective Date.

(c) The Administrative Agent shall have received all fees required to be paid pursuant to this Amendment Agreement and the Arrangement Letter, dated as of October 11, 2012, among Holdings, the Borrower and JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC, and all other amounts due and payable on or prior to the First Amendment Effective Date, including, to the extent invoiced, reimbursement or payment of all reasonable out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel) required to be reimbursed or paid by any Loan Party under any Loan Document, shall have been paid, on or prior to effectiveness.
(d) Each of the representations and warranties made or deemed to be made in this Amendment Agreement shall be true and correct in all material respects; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided further that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct in all respects on such respective dates.
(e) The Administrative Agent shall have received an executed legal opinion of (i) Simpson Thacher & Bartlett LLP, counsel to the Loan Parties and (ii) Tennessee counsel to the Borrower, in each case dated as of the First Amendment Effective Date and covering such matters as the Administrative Agent shall reasonably request.
(f) The Administrative Agent shall have received (x) a certificate of good standing with respect to each of the Loan Parties  and (y) a closing certificate executed by a Responsible Officer of each of the Loan Parties dated the First Amendment Effective Date, substantially in the form of the closing certificate delivered in connection with the Credit Agreement certifying as to the incumbency and specimen signature of each officer executing this Amendment Agreement or any other document delivered in connection herewith on behalf of each Loan Party and attaching (A) a true and complete copy of the certificate of incorporation or formation (or equivalent thereof), as applicable, of each of the Loan Parties, including all amendments thereto, as in effect on the First Amendment Effective Date, certified as of a recent date by the Secretary of State of the state of its organization, to the extent possible, that has not been amended since the date of the last amendment thereto shown on the certificate of good standing furnished pursuant to clause (x) above; provided that, in lieu of the delivery requirement in this clause (A), if there has been no change to, and no action has been taken to amend, the certificate of incorporation or formation (or equivalent thereof), as applicable, of any Loan Party, the Administrative Agent shall accept a representation from such Loan Party as to such fact, (B) a true and complete copy of the by-laws or limited liability company agreement (or equivalent thereof), as applicable, of each Loan Party as in effect on the First Amendment Effective Date and at all times since a date prior to the date of the resolutions described in clause (C) below; 

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provided that, in lieu of the delivery requirement in this clause (B), if there has been no change to, and no action has been taken to amend, the by-laws or limited liability company agreement (or equivalent thereof), as applicable, of any Loan Party, the Administrative Agent shall accept a representation from such Loan Party as to such fact, and (C) a true and complete copy of resolutions duly adopted by the Board of Directors and/or similar governing bodies of each Loan Party approving and authorizing the execution, delivery and performance of this Amendment Agreement and certifying that such resolutions have not been modified, rescinded or amended and are in full force and effect.
(g) The Administrative Agent shall have received from the Borrower a notice of borrowing with respect to the Borrowing of the Additional Term Loans (it being agreed that the Administrative Agent and the Tranche A Term Lenders party hereto waive compliance with the one Business Day notice requirement under Section 2.02 of the Credit Agreement).
The Administrative Agent shall notify Holdings, the Borrower and the Lenders of the First Amendment Effective Date and such notice shall be conclusive and binding.  Notwithstanding the foregoing, this Amendment Agreement shall not become effective, and the obligations of the Lenders to make, fund or convert Loans as provided for herein will automatically terminate, if each of the conditions set forth or referred to in this Section 4 has not been satisfied at or prior to 5:00 p.m., New York City time, on November 1, 2012 (it being understood that any such failure of this Amendment Agreement to become effective will not affect any rights or obligations of any Person under the Credit Agreement).
SECTION 5.    Representations and Warranties. The Borrower hereby represents and warrants that:

(a) This Amendment Agreement has been duly authorized, executed and delivered by each of Holdings and the Borrower and constitutes a legal, valid and binding obligation of each of Holdings and the Borrower, enforceable in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity (whether considered in a proceeding in equity or law) and an implied covenant of good faith and fair dealing;

(b) The representations and warranties of the Borrower and each other Loan Party contained in Article V of the Credit Agreement or any other Loan Document are true and correct in all material respects on and as of the date hereof; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided further that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct in all respects on such respective dates; and 

(c) No Default exists or would result from the Amendment Agreement, the Revolving Commitment Increase, the incurrence of the Additional Term Loans, or from the application of the proceeds therefrom.

 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

- 10 -

SECTION 6.  Effects on Loan Documents.  (a) Except as specifically amended herein, all Loan Documents shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  

(b) The execution, delivery and effectiveness of this Amendment Agreement shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of the Loan Documents or in any way limit, impair or otherwise affect the rights and remedies of the Administrative Agent or the Lenders under the Loan Documents.

(c) The Borrower and the other parties hereto acknowledge and agree that this Amendment Agreement shall constitute a Loan Document.  

SECTION 7.  GOVERNING LAW.  THIS AMENDMENT AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK.  

SECTION 8.  Amendments; Execution in Counterparts.  (a) This Amendment Agreement shall not constitute an amendment of any other provision of the Credit Agreement not referred to herein and shall not be construed as a waiver or consent to any further or future action on the part of the Borrower that would require a waiver or consent of the Lenders or the Administrative Agent.  Except as expressly amended hereby, the provisions of the Credit Agreement are and shall remain in full force and effect. 

(b)  This Amendment Agreement may not be amended nor may any provision hereof be waived except pursuant to a writing signed by Holdings, the Borrower, the Administrative Agent and the Commitment Increase Lenders.  This Amendment Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts, including by means of facsimile or other electronic transmission, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.    

SECTION 9.  Notices.  All notices, requests and demands to or upon the respective parties hereto shall be given in the manner, and become effective, as set forth in Section 10.02 of the Credit Agreement.
    
[Remainder of page intentionally left blank.]

 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

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

TEAM HEALTH HOLDINGS, INC.

By: /s/ David Jones            
Name: David Jones
		
	Title:
	Executive Vice President and Chief Financial Officer

        
        
[Signature Page to First Amendment]

 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

TEAM HEALTH, INC.

By: /s/ David Jones                
Name: David Jones
		
	Title:
	Executive Vice President and Chief Financial Officer

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

        

JPMORGAN CHASE BANK, N.A., as Administrative Agent and Lender

By: /s/ Mary Gherty            
Name: Mary Gherty
Title:    Managing Director

[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender:  JPMorgan Chase Bank, N.A.

	 
	By
	 
	 

	 
	 
	 /s/ Vanessa Chiu

	 
	 
	Name:
	Vanessa Chiu

	 
	 
	Title:
	Executive Director

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender:  Bank of America, N.A.

	 
	By
	 
	 

	 
	 
	/s/ David Strickert

	 
	 
	Name:
	David Strickert

	 
	 
	Title:
	Managing Director

For any Lender requiring a second signature line:
	
				
	Name of Lender:  ______________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender:  Regions Bank

	 
	By
	 
	 

	 
	 
	/s/ Gregory M. Ratliff

	 
	 
	Name:
	Gregory M. Ratliff

	 
	 
	Title:
	Senior Vice President

For any Lender requiring a second signature line:
                                               	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT

                                           	
				
	Name of Lender: Fifth Third Bank

	 
	By
	 
	 

	 
	 
	/s/ William D. Priester

	 
	 
	Name:
	William D. Priester

	 
	 
	Title:
	Senior Vice President

For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT

	
				
	Name of Lender: Barclays Bank PLC

	 
	By
	 
	 

	 
	 
	/s/ Vanessa A. Kurbatskiy

	 
	 
	Name:
	Vanessa A. Kurbatskiy

	 
	 
	Title:
	Vice President

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT

	
				
	Name of Lender: Citibank, N.A.

	 
	By
	 
	 

	 
	 
	/s/ I. Z. Khan

	 
	 
	Name:
	I. Z. Khan

	 
	 
	Title:
	Managing Director

For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Wells Capital Mgmt 23960800

	 
	By
	 
	 

	 
	 
	/s/ Gilbert Southwell

	 
	 
	Name:
	Gilbert Southwell

	 
	 
	Title:
	Vice President

For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Wells Capital Mgmt 18325402

	 
	By
	 
	 

	 
	 
	/s/ Gilbert Southwell

	 
	 
	Name:
	Gilbert Southwell

	 
	 
	Title:
	Vice President

For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Wells Capital Mgmt 18866500

	 
	By
	 
	 

	 
	 
	/s/ Gilbert Southwell

	 
	 
	Name:
	Gilbert Southwell

	 
	 
	Title:
	Vice President

For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Wells Capital Mgmt 23928601

	 
	By
	 
	 

	 
	 
	/s/ Gilbert Southwell

	 
	 
	Name:
	Gilbert Southwell

	 
	 
	Title:
	Vice President

For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: SILVERADO CLO 2006-1

	 
	By
	 
	 

	 
	 
	/s/ Gilbert Southwell

	 
	 
	Name:
	Gilbert Southwell

	 
	 
	Title:
	Vice President

For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Wells Capital Mgmt 13923601

	 
	By
	 
	 

	 
	 
	/s/ Gilbert Southwell

	 
	 
	Name:
	Gilbert Southwell

	 
	 
	Title:
	Vice President

For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: GOLDMAN SACHS LENDING PARTNERS LLC

	 
	By
	 
	 

	 
	 
	/s/ Mark Walton

	 
	 
	Name:
	Mark Walton

	 
	 
	Title:
	Authorized Signatory

For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Mizuho Corporate Bank, Ltd.

	 
	By
	 
	 

	 
	 
	/s/ James R. Fayen

	 
	 
	Name:
	James R. Fayen

	 
	 
	Title:
	Deputy General Manager

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Compass Bank

	 
	By
	 
	 

	 
	 
	/s/ Stephen H. Lee

	 
	 
	Name:
	Stephen H. Lee

	 
	 
	Title:
	Senior Vice President

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: SUMITOMO MITSUI BANKING CORPORATION

	 
	By
	 
	 

	 
	 
	/s/ David W. Kee

	 
	 
	Name:
	David W. Kee

	 
	 
	Title:
	Managing Director

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: KEYBANK NATIONAL ASSOCIATION

	 
	By
	 
	 

	 
	 
	/s/ Sukanya V. Raj

	 
	 
	Name:
	Sukanya V. Raj

	 
	 
	Title:
	Vice President & Portfolio Manager

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: RBS Citizens, N.A.

	 
	By
	 
	 

	 
	 
	/s/ William Pearce

	 
	 
	Name:
	William Pearce

	 
	 
	Title:
	AVP

                                            For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Synovus Bank

	 
	By
	 
	 

	 
	 
	/s/ Anne H. Lovette

	 
	 
	Name:
	Anne H. Lovette

	 
	 
	Title:
	Senior Relationship Manager

                                             For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Union Bank, N.A.

	 
	By
	 
	 

	 
	 
	/s/ Sarah Willett

	 
	 
	Name:
	Sarah Willett

	 
	 
	Title:
	Vice President

                                             For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: UBS Loan Finance LLC

	 
	By
	 
	 

	 
	 
	/s/ Irja R. Otsa

	 
	 
	Name:
	Irja R. Otsa

	 
	 
	Title:
	Associate Director

	 
	 
	 
	Banking Products Services, US

                                             For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	/s/ Kenneth Chin

	 
	 
	Name:
	Kenneth Chin

	 
	 
	Title:
	Director

	 
	 
	 
	Banking Products Services, US

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: First Hawaiian Bank

	 
	By
	 
	 

	 
	 
	/s/ Dawn Hofmann

	 
	 
	Name:
	Dawn Hofmann

	 
	 
	Title:
	Vice President

                                             For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Pinnacle Bank

	 
	By
	 
	 

	 
	 
	/s/ Natalie Readett

	 
	 
	Name:
	Natalie Readett

	 
	 
	Title:
	Sr. Vice President

                                             For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: First Tennessee Bank

	 
	By
	 
	 

	 
	 
	/s/ Cainy Wind

	 
	 
	Name:
	Cainy Wind

	 
	 
	Title:
	SVP

                                             For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Babson CLO LTD. 2005-II

	 
	 
	   Babson CLO LTD. 2006-I

	By Babson Capital Management LLC

	as Collateral Manager

	 
	By
	 
	 

	 
	 
	/s/ Ryan Christenson

	 
	 
	Name:
	Ryan Christenson

	 
	 
	Title:
	Director

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: APIDOS CDO I

	By: Its Investment Advisor CVC Credit

	Partners LLC

	 
	By
	 
	 

	 
	 
	/s/ Vincent Ingato

	 
	 
	Name:
	Vincent Ingato

	 
	 
	Title:
	MD/PM

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Sierra CLO II LTD

	By: Its Investment Advisor CVC Credit

	Partners LLC

	On behalf of Resource Capital Asset

	Management (RCAM)

	 
	By
	 
	 

	 
	 
	/s/ Vincent Ingato

	 
	 
	Name:
	Vincent Ingato

	 
	 
	Title:
	MD/PM

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Cole Brook CBNA Loan Funding LLC

	 
	By
	 
	 

	 
	 
	/s/ Adam Kaiser

	 
	 
	Name:
	Adam Kaiser

	 
	 
	Title:
	Attorney-in-Fact

                                             For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: Cratos CLO I Ltd.

	 
	By
	 
	 

	 
	 
	/s/ Renee Lefebvre

	 
	 
	Name:
	Renee Lefebvre

	 
	 
	Title:
	Managing Director

                                             For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SIGNATURE PAGE TO 
FIRST AMENDMENT  
TO CREDIT AGREEMENT
	
				
	Name of Lender: LATTITUDE CLO III, LTD

	 
	By
	 
	 

	 
	 
	/s/ Kirk Wallace

	 
	 
	Name:
	Kirk Wallace

	 
	 
	Title:
	Senior Vice President

                                             For any Lender requiring a second signature line:

	
				
	Name of Lender:  ____________________________________

	 
	By
	 
	 

	 
	 
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

        
        
        
[Signature Page to First Amendment]
 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

REAFFIRMATION

Each of the undersigned Guarantors hereby consents to the Amendment Agreement and the transactions contemplated thereby.  Each of the undersigned Loan Parties further (a) affirms and confirms its respective guarantees, pledges, grants of security interests and other obligations under the Credit Agreement (as amended by the Amendment Agreement) and each of the other Loan Documents to which it is a party, in respect of, and to secure, the Obligations of the Borrower, including, without limitation, the Tranche A Term Loans and the Revolving Credit Commitments and (b) agrees that, notwithstanding the effectiveness of the Amendment Agreement and the transactions contemplated thereby, the Loan Documents to which it is a party, and such guarantees, pledges, grants of security interests and other obligations thereunder, shall continue to be in full force and effect in accordance with the terms thereof.

TEAM HEALTH HOLDINGS, INC.
TEAM FINANCE LLC

By: /s/ David Jones            
Name:    David Jones
Title:    Executive Vice President and Chief     Financial Officer

HEALTH FINANCE CORPORATION

By: /s/ David Jones            
Name:    David Jones
Title:    Chief Financial Officer

ANESTHESIA MANAGEMENT WEST, INC.
EXIGENCE MANAGEMENT COMPANY, INC.
TEAM ANESTHESIA, INC.
TEAM ANESTHESIA HOLDINGS, LLC

By:/s/David Jones            
Name:    David Jones
Title:    Treasurer

TEAM HEALTH FINANCIAL SERVICES, INC. 

By:/s/ David Jones                
Name:    David Jones
Title:    Assistant Treasurer

 [Signature Page to Reaffirmation]

        

ACCESS NURSE PM, INC.     
AFTER HOURS PEDIATRICS, INC. 
AMERICAN CLINICAL RESOURCES, INC.
ANESTHETIX HOLDINGS, LLC
ANESTHETIX MANAGEMENT, LLC
ANTHEM ASSOCIATES, LLC
BILLING MANAGEMENT, LLC 
CLINIC MANAGEMENT SERVICES, INC. 
D&Y HEALTHCARE CONNECTORS, LLC
DANIEL & YEAGER, INC. 
DHP MANAGEMENT SERVICES, INC.
DHP PARENT, INC.
ECC CHATTSWORTH DALTON MC, LLC
ECC WEST TENNESSEE MC, LLC
EMERGENCY COVERAGE CORPORATION 
EMERGENCY MANAGEMENT MIDWEST, INC.
EMERGENCY PHYSICIAN ASSOCIATES, INC. 
EMERGENCY PROFESSIONAL SERVICES, INC. 
EPA OF WOODBURY, INC.
FLORIDA HOSPITAL MEDICINE SERVICES, INC.
GREENBRIER EMERGENCY PHYSICIANS, INC. 
HCFS HEALTH CARE FINANCIAL SERVICES, INC.
HEALTH CARE ALLIANCE, INC. 
HEALTHCARE REVENUE RECOVERY GROUP, LLC
HOSPITAL MEDICINE ASSOCIATES, LLC
INPHYNET CONTRACTING SERVICES, INC.  
INPHYNET SOUTH BROWARD, INC.  
KELLY MEDICAL SERVICES CORPORATION 
MEDICAL MANAGEMENT RESOURCES, INC. 
MEA EMERGENCY MANAGEMENT, INC. 
MID-ATLANTIC ER PHYSICIANS, INC.
NORTHWEST EMERGENCY PHYSICIANS, INCORPORATED     
NORTHWEST HOSPITAL MEDICINE PHYSICIANS, INC.
NURSE ON DEMAND, INC.
PARAGON CONTRACTING SERVICES, INC. 
PARAGON EMERGENCY SERVICES, INC.

[Signature Page to Reaffirmation]

        

PSYCHIATRISTS ONLY, LLC
QUANTUM PLUS, INC. 
SOUTHEASTERN EMERGENCY PHYSICIANS OF MEMPHIS, INC. 
SOUTHEASTERN EMERGENCY PHYSICIANS, INC. 
SOUTHEASTERN PHYSICIAN ASSOCIATES, INC.
SOUTHWEST FLORIDA EMERGENCY MANAGEMENT, INC.
SPECTRUM HEALTHCARE RESOURCES OF DELAWARE, INC. 
SPECTRUM HEALTHCARE RESOURCES, INC. 
SPECTRUM HEALTHCARE SERVICES, INC. 
SPECTRUM HEALTH INTERNATIONAL, INC.
SPECTRUM PRIMARY CARE, INC. 
TEAM HEALTH ANESTHESIA MANAGEMENT SERVICES, INC. 
TEAMHEALTH PATIENT SAFETY ORGANIZATION, INC.
TEAM RADIOLOGY, INC. 
THE EMERGENCY ASSOCIATES FOR MEDICINE, INC.
THW EMERGENCY MANAGEMENT OF HOUSTON, INC.

    
By:/s/ David Jones                
Name:    David Jones
Title:    Vice President and Treasurer

[Signature Page to Reaffirmation]

THMS-ST. JOSEPH MC, LLC
THMS WEST TENNESSEE MC, LLC
THSE-MARCO URGENT CARE, LLC
THSE-SOUTH FLORIDA MC, LLC
THW EMERGENCY MANAGEMENT OF HOUSTON, INC.

By:/s/ John R. Stair            
Name:    John R. Stair
Title:    Assistant Secretary

[Signature Page to Reaffirmation]

 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

SCHEDULE I
Commitments

	
		
	Revolving Credit Lender
	Revolving Credit Commitment

	JPMorgan Chase Bank, N.A.
	$34,550,000.00

	Bank of America, N.A.
	$33,250,000.00

	Regions Bank
	$12,000,000.00

	Fifth Third Bank
	$13,000,000.00

	Barclays Bank PLC
	$31,600,000.00

	Citibank, N.A.
	$27,100,000.00

	Wells Fargo Bank, National Association
	$7,700,000.00

	Goldman Sachs Lending Partners LLC
	$27,100,000.00

	Mizuho Corporate Bank, Ltd.
	$8,000,000.00

	Compass Bank
	$7,000,000.00

	Sumitomo Mitsui Banking Corporation
	$6,000,000.00

	Keybank National Association
	$5,000,000.00

	RBS Citizens, N.A.
	$5,000,000.00

	Synovus Bank
	$10,700,000.00

	Union Bank, N.A.
	$6,000,000.00

	UBS Loan Finance LLC
	$5,000,000.00

	First Hawaiian Bank
	$4,000,000.00

	Pinnacle Bank
	$3,500,000.00

	First Tennessee Bank
	$3,500,000.00

	TOTAL:
	$250,000,000.00

 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

	
		
	Tranche A Term Lender
	Tranche A Term Commitment

	JPMorgan Chase Bank, N.A.
	$10,250,000.00

	Bank of America, N.A.
	$6,500,000.00

	Regions Bank
	$27,468,750.00

	Fifth Third Bank
	$26,375,000.00

	Barclays Bank PLC
	$4,000,000.00

	Citibank, N.A.
	$5,000,000.00

	Wells Fargo Bank, National Association
	$23,875,000.00

	Goldman Sachs Lending Partners LLC
	$3,000,000.00

	Mizuho Corporate Bank, Ltd.
	$19,875,000.00

	Compass Bank
	$20,875,000.00

	Sumitomo Mitsui Banking Corporation
	$20,875,000.00

	Keybank National Association
	$20,000,000.00

	RBS Citizens, N.A.
	$20,000,000.00

	Synovus Bank
	$12,500,000.00

	Union Bank, N.A.
	$17,875,000.00

	UBS Loan Finance LLC
	$15,000,000.00

	First Hawaiian Bank
	$9,250,000.00

	Pinnacle Bank
	$8,781,250.00

	First Tennessee Bank
	$3,500,000.00

	TOTAL:
	$275,000,000.00

 [[NYCORP:3374039v13:3124d: 11/01/2012--01:34 p]]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}]]