Document:

Unassociated Document

    Confidentiality
and Non-competition Agreement

    

    Party
A: Dalian RINO Environmental Technology Equipment CO.,
Ltd.

     

    Registered
address:

     

    Legal
Representative:

    

    Party
B : 【】

     

    Address:

     

    ID
Number:

    

    Party A
and Party B mutually recognize that Party B may have access to or become aware
of the Trade Secrets (as defined below) of Party A during the employment of
Party B, and that the Trade Secrets of Party A have significant effect on Party
A’s competitive advantages in the market.  Party B acknowledges that, if
the Trade Secrets of Party A are not effectively protected, the production and
operations of Party A may be threatened, and Party A may even sustain
irrecoverable losses. 

     

    In
consideration of the foregoing, Party A and Party B hereby enter into this
Confidentiality and Non-competition Agreement (hereinafter referred to as this
“Agreement”) in
accordance with the current applicable laws and regulations of the People’s
Republic of China (the “PRC”) with respect to the
confidentiality maintenance of the Trade Secrets of Party A by Party B and
prohibition of business strife during the period when Party B is employed by
Party A and after Party B’s Separation from Party A.

    

    
      	
              1.  

            	
              General principles and
      definitions

            

    

     

    In order
to protect the legal rights and interests of both Parties, the following
principles shall apply to this Agreement: this Agreement should prevent any
unfair competition activities against Party A as well as ensure that the right
of labor to which Party B is entitled by law should be realized.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    The
“Service Term” referred to in this Agreement shall mean the period from the time
when Party B commences to receive salary from Party A to the time of termination
(or extinguishment) of the labor relation between Party A and Party
B.

    

    A
“Separation” referred to in this Agreement shall mean that either Party
expressly indicates the intention to dissolve or terminate the employment
relation and put such intention into action, and shall comprise of all regular
separations, such as resignation, dismissal, or dissolution or termination of
the labor (contract) relation, and all irregular separations.

    

    The
“Trade Secrets” referred to in this Agreement shall include but not be limited
to:

    

    
      	 	
              the
      technical information and operational information which are unknown to the
      public, may generate economic benefits for Party A, with practicability,
      and are subject to Party A’s confidentiality
  measures;

            

    

    

    
      	 	
              the
      items for which Party A has organized R&D or which are otherwise
      obtained by Party A, and which may have specific complete technical
      contents, or may constitute a technical resolution for a product or
      technology and improvements thereof, or may be part of the technical
      elements of a certain product or technology;
and

            

    

    

    
      	 	
              the
      entirety or part of the elements of Party A’s project management,
      technical management, archive management, quality management methods,
      pricing methods, development plans, investment plans, operation rules,
      commercial network, client name-lists, goods supply information,
      advertising planning, management experience, financial status, price
      lists, human resource planning, and other
  information.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    A
“Competing Unit” referred to in this Agreement shall mean any individual,
company, enterprise, partnership, department, association, institutional unit,
social entity or other organization which engages in the same kind of business
as Party A (including similar business), or provides the same kind of services
as Party A, or constitutes an actual or potential competition against the
business of Party A within the territorial scope of the PRC.  These
competing units include but are not limited to the following:

    

    
      	 	
              An
      enterprise which is in the same industry as Party
  A;

            

    

    

    
      	 	
              An
      enterprise or organization of any other type (or in any other industry)
      which engages in any business identical or similar to the main services
      performed by Party B for Party A;

            

    

    

    
      	 	
              A
      company, enterprise, or other organization which provides professional
      consultation or advisory services to the enterprise or organization
      referred to in the preceding
paragraphs.

            

    

    

    The
“Non-competition Obligations” referred to in this Agreement shall mean the
obligations set forth in Article 3 of this Agreement.

    

    The
“Non-competition Period” referred to in this Agreement shall mean the Service
Term plus five (5) years after the Separation.

    

    
      	
              2.  

            	
              Confidentiality
      Clause

            

    

     

    Party B
agrees not to divulge, disclose, provide or disseminate, in any manner to any
person or entity at any time, the Trade Secrets defined in Article 1 of this
Agreement or the trade secrets or confidential information which may affect the
business of Party A or matters relating to the business of Party A, unless with
Party A’s prior express consent in writing.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    Upon
Party B’s Separation, Party B shall unconditionally deliver to Party A all
business related carriers which are possessed or controlled by Party B,
including but not limited to equipment, CDs, magnetic disks, magnetic tapes,
notebooks, memoranda, reports, archives, samples, books, correspondence, lists,
and other written and graphic records.

    

    Party B
undertakes not to disclose the Trade Secrets of Party A under this Agreement to
the subsequent employer(s) of Party B.

    

    Unless
with Party A’s prior authorization and consent in writing, all the inventions
made by Party B in connection with his/her own job, either separately or jointly
with others, during his/her Service Term, shall be owned by Party
A.

    

    Party B
shall have the obligation to disclose to Party A all the intellectual property
rights applied or obtained by Party B during the Service Term of Party B and
within one (1) year after Party B’s Separation.

    

    Party B
undertakes that Party A shall be the beneficial owner of any and all
intellectual property rights owned and/or expected to be owned by Party B, which
are necessary to the operation of Party A or any business of Party A, within the
effective legal period of such intellectual property rights. For the above
purpose, if Party A needs to enter into a license agreement so as to use the
intellectual property right, Party A shall be entitled to a free usage for such
license.

    

    
      	
              3.  

            	
              Non-competition
      clause

            

    

    

    Party B
undertakes not to engage in, for his/her own or on behalf of others, or
participate in the operation of, any business which is competing with Party A
directly or indirectly, during his/her Service Term without Party A’s prior
written consent.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    During
Party B’s Service Term, without Party A’s prior written consent, Party B
undertakes that: it will not pursue a second occupation; it will not accept or
acquire any position (including but not limited to a position of partner,
director, supervisor, shareholder, manager, staff member, agent, consultant,
etc) in any Competing Unit or any other economic organization or social
entity having direct economic relation with Party A; it will not provide to such
Competing Units with any advisory services (regardless whether with or without
compensation) or any other assistance (such as engaging in any business the
scope of which is identical or similar to the business which Party A is
currently undertaking or Party A may decide to develop from time to time); it
will not make use of his/her position at Party A in order to obtain benefits by
any improper means; it will not seek private interests for himself/herself by
utilizing his/her position and authority in Party A.

    

    Upon
Separation from Party A due to any reason, without the prior written consent of
Party A, Party B shall not hold any position in any Competing Unit within five
(5) years from the Separation date.

    

    Upon
Separation from Party A due to any reason, without the prior written consent of
Party A, Party B will not establish and manage, either directly or indirectly,
any enterprise which is in competition with Party A, within five (5) years from
the Separation date, including but not limited to the establishment or
management of:

    

    
      
        	
                 

              	
                an
      enterprise which is in the same industry as Party
  A;

              

      

    

    

    
      	 	
              an
      enterprise or organization of any other type (or in any other industry)
      which engages in any business identical or similar to the main services
      performed by Party B for Party A;
or

            

    

    

    
      	 	
              an
      enterprise, or other organization which provides professional consultation
      or advisory services to the enterprise or organization referred to in the
      preceding paragraphs.

            

    

    

    At the
time when Party B delivers a resignation notice to Party A or Party A delivers a
dismissal notice to Party B, namely, upon termination or dissolution of the
labor contract, Party B shall have the obligation to notify Party A in writing
of his/her true subsequent destination. During the Non-competition Period, Party
B shall have the obligation to notify Party A in writing of his/her each new
employer unit, position, and the business nature of the new employer unit. The
time limit for notice shall be one week from the date of commencement of Party
B’s employment at the new unit.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    Party B
agrees that, during the Non-competition Period, Party B warrants not to
instigate, entice, encourage, solicit, or otherwise attempt to affect, directly
or indirectly, any other staff member of Party A for the purpose of leaving
Party A and serving Party B or any other individual or entity; Party B warrants
not to solicit Party A’s clients or pervious clients for seizing their business
and gaining direct or indirect benefits, with the exception of Party B’s
activities for performance of his/her duties during the Service Term at Party
A.

    

    
      	
              4.  

            	
              Liabilities for breach
      of Agreement

            

    

    

    If Party
A sustains any loss due to Party B’s breach of this Agreement, Party B shall be
fully liable for compensation of the full loss.  If it is difficult to
calculate the amount of such loss, the amount of compensation shall be no less
than 50% of the aggregate of Party B’s salary already paid by Party A and other
expenses during the Service Term.  The payment of the default penalty shall
not be intended as a dissolution or termination of Party B’s relevant
confidentiality and non-competition obligations referred to above.

    

    During
the Service Term, Party A may directly deduct the full or part of the amount
from the salary, remuneration, bonus, various compensation fees, and other
income due and payable to Party B in order to recover Party A’s losses.
 The damages borne by Party B to Party A shall include but not be limited
to the losses, direct and/or indirect, tangible and/or intangible, property
and/or non-property related, sustained by Party A due to Party B’s breach of
this Agreement, as well as the reasonable expenses incurred by Party A for
investigation into Party B’s breaching activities.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    
      	
              5.  

            	
              Termination of
      Non-competition Obligation

            

    

     

    Both
Parties agree that Party B’s non-competition obligation shall automatically
terminate upon the occurrence of any of the following
circumstances:

     

    The
Non-competition Period for Party B stipulated in this Agreement
expires;

    

    Party A’s
status of a legal person is terminated and there is no unit or individual that
will assume its rights and obligations.

    

    
      	
              6.  

            	
              Severability

            

    

    

    The
invalidity of any provision of this Agreement shall not affect the validity,
legitimacy and enforceability of other provisions, and said invalid provision
shall be replaced by another valid, legal, and enforceable provision which
reflects the original intent of the Parties to the greatest extent.

    

    
      	
              7.  

            	
              Notice

            

    

    

     Notices
may be delivered in person, or by courier (including commercial express
delivery), registered mail, or public announcement.

    

     Notices
shall be delivered to the following addresses, unless modified by way of a prior
written notice:

     

    If to
Party A:

     

    Address:

     

    Postal
Code:

     

    Attention:

     

    Telephone
No.:

     

    Facsimile
No.:

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    If to
Party B:

     

    Address:

     

    Postal
Code:

     

    Attention:

     

    Telephone
No:

     

    Facsimile
No:

    

     Notices
or correspondence shall be deemed effectively given

    

    
      	 	
              upon
      the date on which the receiving party signs to acknowledge the receipt if
      delivered by courier (including commercial express delivery);
      or

            

    

    

    
      	 	
              seven
      (7) days after the date of issuance of the postal receipt by the post
      office if delivered by registered
mail.

            

    

    

    
      	
              8.  

            	
              Modification;
      waiver

            

    

    

    This
Agreement may only be amended or modified with the mutual consent of both
Parties evidenced by a written document signed by them.

    

    The
consent, waiver, or change rendered by either party to this Agreement with
respect to a certain event shall only be applicable to that event, and shall not
be presumed as the approach of that party to any event of the same kind which
may occur in the future, unless otherwise expressly indicated in
writing.

    

    Failure
or delay to exercise any right under or related to this Agreement by either
Party shall not be deemed as a waiver of such right.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	
              9.  

            	
              Settlement of
      disputes

            

    

     

    The laws
and regulations of the People’s Republic of China shall govern and be binding on
the establishment, validity, interpretation and execution of this
Agreement.  If any dispute arising from or in connection with the
performance or interpretation of this Agreement fails to be resolved through
friendly negotiations by the Parties, such dispute shall be submitted to China
International Economic and Trade Arbitration Commission in Beijing (hereinafter
referred to as “CIETAC”)
for arbitration in accordance with the arbitration rules and procedures of
CIETAC in effect at the time of the arbitration.  The arbitration
award shall be final and binding upon the Parties.  Unless otherwise
provided in the arbitration award, the arbitration fee shall be borne by the
losing Party.

    

    
      	
              10.  

            	
              Miscellaneous

            

    

    

    Each
Party acknowledges that it has carefully reviewed and fully understands the
contents of all the provisions of this Agreement and the legal implication of
these contents.  This Agreement shall become effective upon signature /
seal of Party A’s authorized representative and Party B.

    

    This
Agreement shall have 【】 counterparts,
each of which shall be held by each party respectively, and all of which shall
have equal legal force.

     

    (REMAINDER OF PAGE
INTENTIALLY LEFT BLANK)

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    (SIGNING
PAGE ONLY)

     

    Party
A: Dalian RINO Environmental Technology Equipment CO., Ltd.

    (stamp)

    

    Signature
of Authorized Representative:                                       

     

    Party
B: 【】

     

    Signature:                                      

    
      
        
        

      

      
        10Unassociated Document

    Exhibit
4.1

    

    
      

      

    

    

    

    

    WAIVER

    DATED
AS OF NOVEMBER 10, 2010

    IN
RESPECT OF

    AMENDED
AND RESTATED LOAN AGREEMENT

    

    BY
AND AMONG

    

    CFWH
(Delaware), LLC, CFWH (Massachusetts), LLC, CFWH (New Jersey) LLC, 

    CFWH
(New York) LLC, New York Hyperbaric And Wound Care Centers, L.L.C.,

    The
Square Hyperbaric LLC, CFWH (Pennsylvania), LLC, and 

    THE
CENTER FOR WOUND HEALING, INC.

    

    AND

    

    SIGNATURE
BANK

    

    

    

    

    
      

      

    

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    THIS
WAIVER (the “Waiver”) made as of the 10th day of November, 2010 by and among
CFWH (Delaware), LLC, CFWH (Massachusetts), LLC, CFWH (New Jersey) LLC, CFWH
(New York) LLC, New York Hyperbaric And Wound Care Centers, L.L.C., The Square
Hyperbaric LLC, CFWH (Pennsylvania), LLC, and THE CENTER FOR WOUND HEALING,
INC., each with a place of business at 155 White Plains Road, Tarrytown,
NY  10591 (the foregoing Persons, individually and collectively, the
“Borrower”), and SIGNATURE BANK, a New York bank having an office at 1225
Franklin Avenue, Garden City, New York 11530 (the “Bank”).

    

    W
I T N E S S E T H:

    

    WHEREAS,
certain of the entities comprising the Borrower and the Bank entered into a
Amended and Restated Loan Agreement dated as of June 17, 2005 as amended by a
First Amendment dated as of April 7, 2006, a Second Amendment dated as of
February 1, 2007, a Third Amendment and Waiver dated as of May 29, 2007, a
Fourth Amendment and Waiver dated as of July 31, 2007, a Fifth Amendment dated
as of October 11, 2007, a Sixth Amendment dated as of March 19, 2008, a Seventh
Amendment dated as of September 30, 2008, an Eighth Amendment dated as of
December 18, 2008 and a Waiver and Ninth Amendment dated as of October 13, 2010
(collectively, the “Agreement”), providing for certain financial accommodations
to the Borrower and which Agreement is now in full force and
effect;

    

    WHEREAS, the Borrower has failed to
comply with the provisions of Sections 6.1, 6.3 and 6.5 of the Agreement, and
the Borrower has informed the Bank that it will in the future fail to comply
with the provisions of Section 6.4 of the Agreement, all as described below;
and

    

    WHEREAS,
the Borrower and the Bank desire that the Bank waives the Borrowers’
non-compliance with such provisions of the Agreement on the terms and conditions
hereinafter set forth;

    

    NOW,
THEREFORE, in consideration of the premises and the agreements hereinafter set
forth and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto agree as
follows:

    

    1.           As
used in this Waiver, capitalized terms, unless otherwise defined, shall have the
meanings ascribed thereto in the Agreement.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    2.           The
Borrower failed to comply with the provisions of Section 6.1 of the Agreement
for the four fiscal quarter period of the Borrower ended September 30, 2010, as
the ratio which is the subject of such section was 0.60:1.00 for such
period.  Such non-compliance is hereby waived, for the four fiscal
quarter period of the Borrower ended September 30, 2010, for each of the four
fiscal quarter periods ending subsequent to September 30, 2010 through and
including the four fiscal quarter period ending September 30, 2011, and for
October 1, 2011, provided that (a) such ratio was not less than 0.60:1.00 for
the four fiscal quarter period of the Borrower ended September 30, 2010, and (b)
such ratio will not be, for the four fiscal quarter period ending: (i) December
31, 2010, less than 0.20:1.00; (ii) March 31, 2011, less than 0.35:1.00; or
(iii) June 30, 2011, less than 0.50:1.00; or (iv) September 30, 2011, or for
October 1, 2011, less than 0.60:1.00.  Notwithstanding anything
contained in this Waiver or in the Agreement to the contrary, solely for
purposes of determining the Borrower’s compliance with the provisions of the
section of the Agreement which is the subject of this paragraph, and solely for
the periods or date(s) which are the subject of this paragraph, there shall be
added to EBITDA of the Borrower, without duplication, the following items for
the periods or date(s) to which such items relate (as determined in accordance
with GAAP):  (1) $276,000 relating solely to and comprised solely of
litigation expenses of the Borrower, 2009 10-K restatement expenses of the
Borrower and expenses of the Borrower relating solely and directly to the sale
of the Borrower incurred during the fiscal quarter ended December 31, 2009; (2)
$2,131,000 relating solely to and comprised solely of bad debt write-offs taken
during the fiscal quarter ended March 31, 2010, litigation expenses of the
Borrower and expenses of the Borrower relating solely and directly to the sale
of the Borrower incurred during the fiscal quarter ended March 31, 2010, and the
Borrower’s correction of the Apligraph billing error by refunding the applicable
amount during the fiscal quarter ended March 31, 2010; (3) $132,000 relating
solely to litigation expenses of the Borrower and expenses of the Borrower
relating solely and directly to the sale of the Borrower incurred during the
fiscal quarter ended June 30, 2010; and (4) $336,000 of expenses of the Borrower
relating solely and directly to the sale of the Borrower and $92,000 of expenses
of the Borrower relating solely to founder’s salary expenses incurred during the
fiscal quarter ended September 30, 2010.

    

    3.           The
Borrower failed to comply with the provisions of Section 6.3 of the Agreement as
of the last day of the fiscal quarter of the Borrower ended September 30, 2010,
as the Effective Tangible Net Worth as the Borrower as of September 30, 2010 was
$11,485,567.  Such non-compliance is hereby waived, as of the last day
of the fiscal quarter of the Borrower ended September 30, 2010, as of the last
day of each fiscal quarter of the Borrower occurring subsequent to September 30,
2010 through and including September 30, 2011, and as of October 1, 2011,
provided that (a) the Effective Tangible Net Worth of the Borrower as of
September 30, 2010 was not less than $11,485,567, and (b) the Effective Tangible
Net Worth of the Borrower will not be, as of: (i) December 31, 2010, less than
$10,500,000; (ii) March 31, 2011, less than $7,500,000; (iii) June 30, 2011,
less than $7,500,000; or (iv) September 30, 2011 or October 1, 2011, less than
$7,000,000.

    

    4.           The
Borrower has informed the Bank that it is in compliance with the provisions of
Section 6.4 of the Agreement for the four fiscal quarter period of the Borrower
ended September 30, 2010, as the ratio which is the subject of such section was
0.39:1.00 for such period and as of such date, but that the Borrower will fail
to be in compliance with the provisions of such section for the four fiscal
quarter periods ending March 31, 2011 and September 30, 2011 (and as of such
dates).  Such non-compliance is hereby waived, provided that such
ratio will not be, for the four fiscal quarter period ending: (i) March 31, 2011
(or as of such date), more than 1.50:1.00; (ii) June 30, 2011 (or as of such
date), more than 1.25:1.00; or (iii) September 30, 2011 (or as of such date), or
for October 1, 2011 (or as of such date), more than
1.15:1.00.  Notwithstanding anything contained in this Waiver or in
the Agreement to the contrary, solely for purposes of determining the Borrower’s
compliance with the provisions of the section of the Agreement which is the
subject of this paragraph, and solely for the periods or date(s) which are the
subject of this paragraph, there shall be added to EBITDA of the Borrower,
without duplication, the following items for the periods or date(s) to which
such items relate (as determined in accordance with GAAP):  (1)
$276,000 relating solely to and comprised solely of litigation expenses of the
Borrower, 2009 10-K restatement expenses of the Borrower and expenses of the
Borrower relating solely and directly to the sale of the Borrower incurred
during the fiscal quarter ended December 31, 2009; (2) $2,131,000 relating
solely to and comprised solely of bad debt write-offs taken during the fiscal
quarter ended March 31, 2010, litigation expenses of the Borrower and expenses
of the Borrower relating solely and directly to the sale of the Borrower
incurred during the fiscal quarter ended March 31, 2010, and the Borrower’s
correction of the Apligraph billing error by refunding the applicable amount
during the fiscal quarter ended March 31, 2010; (3) $132,000 relating solely to
litigation expenses of the Borrower and expenses of the Borrower relating solely
and directly to the sale of the Borrower incurred during the fiscal quarter
ended June 30, 2010; and (4) $336,000 of expenses of the Borrower relating
solely and directly to the sale of the Borrower and $92,000 of expenses of the
Borrower relating solely to founder’s salary expenses incurred during the fiscal
quarter ended September 30, 2010.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    5.           The
Borrower failed to comply with the provisions of Section 6.5 of the Agreement
for the four fiscal quarter period of the Borrower ended September 30, 2010, as
the ratio which is the subject of such section was 3.75:1.00 for such period and
as of such date.  Such non-compliance is hereby waived, for the four
fiscal quarter period of the Borrower ended September 30, 2010 (and as of such
date), for each of the four fiscal quarter periods ending subsequent to
September 30, 2010 (and as of such dates) through and including the four fiscal
quarter period ending September 30, 2011 (and as of such date), and for October
1, 2011 (and as of such date), provided that (a) the ratio which is the subject
of such section was not more than 3.75:1.00 for the four fiscal quarter period
of the Borrower ended September 30, 2010 (or as of such date), and (b) such
ratio will not be, for the four fiscal quarter period ending: (i) December 31,
2010 (or as of such date), more than 5.25:1.00; (ii) March 31, 2011 (or as of
such date), more than 4.50:1.00; (iii) June 30, 2011 (or as of such date), more
than 4.00:1.00; or (iv) September 30, 2011 (or as of such date), or for October
1, 2011 (or as of such date), more than 4.00:1.00.  Notwithstanding
anything contained in this Waiver or in the Agreement to the contrary, solely
for purposes of determining the Borrower’s compliance with the provisions of the
section of the Agreement which is the subject of this paragraph, and solely for
the periods or date(s) which are the subject of this paragraph, there shall be
added to EBITDA of the Borrower, without duplication, the following items for
the periods or date(s) to which such items relate (as determined in accordance
with GAAP):  (1) $276,000 relating solely to and comprised solely of
litigation expenses of the Borrower, 2009 10-K restatement expenses of the
Borrower and expenses of the Borrower relating solely and directly to the sale
of the Borrower incurred during the fiscal quarter ended December 31, 2009; (2)
$2,131,000 relating solely to and comprised solely of bad debt write-offs taken
during the fiscal quarter ended March 31, 2010, litigation expenses of the
Borrower and expenses of the Borrower relating solely and directly to the sale
of the Borrower incurred during the fiscal quarter ended March 31, 2010, and the
Borrower’s correction of the Apligraph billing error by refunding the applicable
amount during the fiscal quarter ended March 31, 2010; (3) $132,000 relating
solely to litigation expenses of the Borrower and expenses of the Borrower
relating solely and directly to the sale of the Borrower incurred during the
fiscal quarter ended June 30, 2010; and (4) $336,000 of expenses of the Borrower
relating solely and directly to the sale of the Borrower and $92,000 of expenses
of the Borrower relating solely to founder’s salary expenses incurred during the
fiscal quarter ended September 30, 2010.

    

    6.           Notwithstanding
anything contained in this Waiver to the contrary, the Borrowers’ non-compliance
with Section 6, for all fiscal quarters and financial covenant testing dates
ending/occurring subsequent to September 30, 2010 and ending/occurring on or
prior to October 1, 2011, is hereby waived to the extent and solely to the
extent resulting from the required adoption by the Borrower of changes in GAAP
(relating to GAAP Codification of Accounting Standards Codification Topic
470:Debt) from and after September 30, 2009 and through and including October 1,
2011.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

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

    

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

    

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

    

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

    

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

    

    10.           The
Waiver set forth herein is limited precisely as written and shall not be deemed
(except as the Agreement is modified by this Waiver) to (a) be a consent to or a
waiver of any term or condition of the Agreement (i.e., only non-compliance with
the above-referenced sections of the Agreement, but not with any other sections
of the Agreement is waived hereby or any of the documents referred to therein,
or (b) prejudice any right or rights which the Bank may now have or may have in
the future under or in connection with the Agreement or any documents referred
to therein.  Whenever the Agreement is referred to in the Agreement or
any of the instruments, agreements or other documents or papers executed and
delivered in connection therewith, it shall be deemed to mean the Agreement as
modified by this Waiver.  This Waiver may be signed in one or more
counterparts which, when taken together, shall constitute one and the same
document.  The parties to this Waiver agree that, for purposes of the
execution of this Waiver, facsimile signatures and scanned signatures through
email will constitute original signatures.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    11.           This
Waiver shall become effective on such date as all of the following conditions
have been satisfied:

    

    (A)           Waiver
Fee.  The Borrower shall have paid to the Bank a
waiver-amendment fee in the amount of $5,000.00; and

     

    (B)           Fees and
Expenses.  The Bank shall have received evidence of payment of
the fees and disbursements of the Bank’s counsel (if invoiced by the Bank’s
counsel on or prior to the date hereof).

    

    12.           This
Waiver is dated of November 10, 2010 and shall be effective on
the date of execution by the Bank.  Except as modified by this Waiver,
the Agreement is in all respects ratified and confirmed.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

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

     

    
      
        	 	      
                Borrower:

                CFWH
      (Delaware), LLC

                CFWH
      (Massachusetts), LLC

                CFWH
      (New Jersey) LLC

                CFWH
      (New York) LLC

                New
      York Hyperbaric And Wound Care Centers, L.L.C.

                The
      Square Hyperbaric LLC

                CFWH
      (Pennsylvania), LLC

                Each
      by its manager/member,

                THE
      CENTER FOR WOUND HEALING, INC.

              
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      Andrew G. Barnett	 
	 	 	Andrew
      G. Barnett	 
	 	 	Chief
      Executive Officer	 
	 	 	 	 
	 	 	 	 
	 	      
                THE
      CENTER FOR WOUND HEALING, INC.

              
	 	 	 	 
	 	By:	/s/
      Andrew G. Barnett	 
	 	 	Andrew
      G. Barnett	 
	 	 	Chief
      Executive Officer	 
	 	 	 	 
	 	 	 	 
	 	      
                Bank:

              	 
	 	      
                SIGNATURE
      BANK

              	 
	 	 	 	 
	 	By:	/s/
      Lori Cabana	 
	 	 	Lori
      Cabana	 
	 	 	Vice
      President	 

      

       

      
        
           

        

        
          6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}]]