Document:

EX-4.24

 Exhibit 4.24 
  

 
 February 25, 2014 

Dr. Augustine Cheung 
 Founder, CEO & President

 Medifocus, Inc. 
 The Exchange Tower, 

Suite 1800, 
 Toronto, ON M5X1E3 

 

	 	RE:	Private Placement of Securities 

 Dear Dr. Cheung: 

This letter confirms our agreement that Medifocus, Inc., a corporation incorporated under the Business Corporations Act (Ontario) (collectively with
its owned or controlled subsidiaries, the “Company”) has engaged Maxim Group LLC (together with its affiliates and subsidiaries, the “Placement Agent”) to act as the Company’s exclusive Placement Agent in
connection with the Company’s proposed private placement (the “Offering”) of equity or equity linked securities (the “Securities”) of the Company. The precise terms of the Securities and the gross proceeds of
such Offering will be negotiated between the Placement Agent and the Company with one or more Investors (as defined below), it being understood that the gross proceeds of the Offering will be up to $10 million. 

Upon acceptance (indicated by your signature below), this letter agreement (the “Agreement”) will confirm the terms of the
engagement between the Placement Agent and the Company on the terms and conditions set forth herein. 
 1. Appointment. 

(a) Subject to the terms and conditions of this Agreement, the Company hereby retains the Placement Agent, and the Placement Agent hereby
agrees to act, as the Company’s exclusive Placement Agent in connection with the Offering. As Placement Agent for the Offering, the Placement Agent will advise and assist the Company in identifying one or more investors that are
“accredited” within the meaning of the U.S. federal securities laws (“Investors”) to participate in the Offering. The Company acknowledges and agrees that the Placement Agent is only required to use its “commercially
reasonable efforts” in connection with its activities hereunder and that this Agreement does not constitute a legal or binding commitment by the Placement Agent to purchase the Securities or introduce the Company to Investors, nor does this
Agreement constitute a representation or warranty on the part of the Placement Agent that any Offering will be consummated. The Placement Agent will, in its sole discretion, determine the reasonableness of its efforts, and is under no obligation to
perform at any level other than what it deems reasonable. The Company retains the right to determine all of the terms and conditions of the Offering and to accept or reject any proposals submitted to it by the Placement Agent in its sole and
absolute discretion. 
 (b) In furtherance of the Company’s agreement that the Placement Agent’s retention hereunder shall be
exclusive, during the Term (as such term is hereinafter defined), neither the Company nor any of its officers, directors, employees, subsidiaries, affiliates, agents or representatives (“Representatives”) will, directly or
indirectly, solicit or otherwise encourage the submission of any 

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJ 

 Medifocus, Inc. 

February 2014 
  Page
 2
 
  

 
proposal or offer (“Investment Proposal”) from any person or entity relating to any issuance of the Company’s or any of its subsidiaries’ equity or equity-linked
securities (including warrants and debt securities with any equity feature) or participate in any discussions regarding an Investment Proposal. The term “Investment Proposal” shall not include (i) any investment in the equity
securities of any other entity, and (ii) any transaction or agreement with one or more persons, firms or entities designated as a “strategic partner” of the Company, as determined in good faith by the Board of Directors of the
Company, provided that each such person, firm or entity is, itself or through its subsidiaries, an operating company in a business synergistic with the business of the Company and in which the Company receives benefits in addition to the investment
of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to one or more persons or entities whose primary business is investing in securities. The Company will
immediately cease all contacts, discussions and negotiations with third parties regarding any Investment Proposal and, during the Term, will promptly inform that Placement Agent of any unsolicited Investment Proposals received by the Company or its
Representatives. 
 2. Information. 

(a) The Company recognizes that, in completing its engagement hereunder, the Placement Agent will be using and relying on both publicly
available information and on data, material and other information (including non-public information) furnished to Placement Agent by the Company or its Representatives. The Company will cooperate with the Placement Agent and furnish, and cause to be
furnished, to the Placement Agent, any and all information and data concerning the Company, its business, financial condition and plans for the Offering that the Placement Agent deems appropriate ( including, without limitation, the Company’s
strategic, business, growth, acquisition and/or merger plans and plans for raising capital or additional financing) that is reasonably requested by the Placement Agent (the “Information”), including a Private Placement Memorandum to
be used in connection with the Offering, if deemed appropriate by the Placement Agent (collectively, the “Private Placement Materials”). Any Information and Private Placement Materials forwarded to prospective Investors will be in
form acceptable to Placement Agent and its counsel. The Company represents and warrants that all Information and Private Placement Materials, including, but not limited to, the Company’s financial statements, will be complete and correct in all
material respects and will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein not misleading. 

(b) It is further agreed that the Placement Agent will conduct a due diligence investigation of the Company and the Company will cooperate
with such investigation as a condition of the Placement Agent’s participation in the Offering. The Company recognizes and confirms that the Placement Agent: (i) will use and rely primarily on the Information, the Private Placement
Materials and information available from generally recognized public sources in performing the services contemplated by this letter without having independently verified the same; (ii) is authorized as the Placement Agent to transmit to any
prospective investors a copy or copies of the Private Placement Materials, forms of subscription documents and any other legal documentation supplied to the Placement Agent for transmission to any prospective investors by or on behalf of the Company
or by any of the Company’s officers, representatives or agents, in connection with the performance of the Placement Agent’s services hereunder or any transaction contemplated hereby; (iii) does not assume responsibility for the
accuracy or completeness of the Information or the Private Placement Materials and such other information, if any provided to the Investors; (iv) will not make an appraisal of any assets of the Company or the Company generally; and
(v) retains the right to continue to perform due diligence of the Company, its business and its officers and directors intil the completion of the Offering. 

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJ 

 Medifocus, Inc. 

February 2014 
  Page
 3
 
  

 (c) Until the date that is one year from the date hereof, the Placement Agent will keep all
information obtained from the Company confidential except: (i) Information which is otherwise publicly available, or previously known to or obtained by, the Placement Agent independently of the Company and without breach of any of the Placement
Agent’s agreements with the Company; (ii) the Placement Agent may disclose such information to its officers, directors, employees, agents and representatives, and to its other advisors and financial sources on a need to know basis only and
will ensure that all such persons will keep such information strictly confidential. No such obligation of confidentiality shall apply to information that: (i) is in the public domain as of the date hereof or hereafter enters the public domain
without a breach by the Placement Agent, (ii) was known or became known by the Placement Agent prior to the Company’s disclosure thereof to the Placement Agent, (iii) becomes known to the Placement Agent from a source other than the
Company, and other than by the breach of an obligation of confidentiality owed to the Company, (iv) is disclosed by the Company to a third party without restrictions on its disclosure, (v) is independently developed by the Placement Agent
or (vi) is required to be disclosed by the Placement Agent or its officers, directors, employees, agents, attorneys and to its other advisors and financial sources, pursuant to any order of a court of competent jurisdiction or other
governmental body or as may otherwise be required by law. 
 (d) The Company recognizes that in order for the Placement Agent to perform
properly its obligations in a professional manner, the Company will keep the Placement Agent informed of and, to the extent practicable, permit the Placement Agent to participate in meetings and discussions between the Company and any third party
relating to the matters covered by the terms of the Placement Agent’ engagement. If at any time during the course of the Placement Agent’s engagement, the Company becomes aware of any material change in any of the information previously
furnished to the Placement Agent, it will promptly advise the Placement Agent of the change. 
 (e) The Offering shall be conditioned upon,
among other things, the following: 
 (i) Satisfactory completion by the Placement Agent of its due diligence investigation and analysis of:
(a) the Company’s arrangements with its officers, directors, employees, affiliates, customers and suppliers, (b) the audited historical financial statements of the Company, and (c) the Company’s projected financial results
for the fiscal years ending December 31, 2014 through 2016; and 
 (ii) The retention of Sievert & Sawrantschuk LLP by the
Company, as mutually acceptable to the Company and the Placement Agent, with Sievert & Sawrantschuk LLP having the responsibility for the preparation of the financial statements and the financial exhibits, if any, to be included in the
Private Placement Materials; and 
 (iii) Upon the execution of the engagement letter, the Company at its own expense will conduct
background checks, by a background search firm acceptable to the Placement Agent, for the Company’s senior management. 
 3.
Compensation. As compensation for services rendered and to be rendered hereunder by Placement Agent, the Company agrees to provide the Placement Agent with the following: 

(a) The Company agrees to pay the Placement Agent a cash fee payable upon each closing of the Offering (each, a “Closing”)
equal to nine percent (9.0%) of the gross proceeds received by the Company at each Closing (the “Placement Fee”). 

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJ 

 Medifocus, Inc. 

February 2014 
  Page
 4
 
  

 (b) Upon the execution of this Agreement, the Company shall provide the Placement Agent with
fifteen thousand dollars ($15,000) (by check or wire transfer of immediately available funds) as an advance (the “Advance”) to be applied towards the Placement Fee. In the event this Agreement is not completed within the term set
forth in Section 4, the Placement Agent will be entitled to reimbursement of its reasonable, out-of-pocket accountable expenses (including reasonable legal fees and expenses) incurred by the Placement Agent in connection with the Offering. The
Placement Agent shall be obligated to refund any portion of the Advance that has not utilized for the payment of such expenses. 
 (c) The
Company shall, at the Closing, grant to the Placement Agent (or its designated affiliates) securities purchase warrants (the “Warrants”) covering a number of the securities (“Securities”) equal to nine percent
(9.0%) of the total number of Securities being sold and/or issued in the Offering. The Warrants will be non-exercisable for six (6) months after the date of the Closing and will be exercisable and expire two (2) years after the
Closing. The Warrants will be exercisable at a price per share equal to 115% of the price of the Securities paid by the Investors in connection with the Offering. The Warrants shall not be redeemable. The Company will grant piggyback registration
rights to the Placement Agent with respect to the Securities underlying the Warrants. The Warrants may not be transferred, assigned or hypothecated for a period of six (6) months following the Closing, except that they be assigned, in whole or
in part, to any successor, officer, manager or member of the Placement Agent (or to officers, managers or member of any such successor of member). The Warrants may be exercised in whole or in part, and shall provide for customary anti-dilution and
price protection. As soon as a class of the Company’s Securities are listed on a National Securities Exchange of the United States, the Warrants shall be amended to provide for “cashless exercise”. Further changes to the terms of the
Warrants, and any required amendments to the Warrants, themselves, as required by an exchange in connection with the listing of the Securities on such exchange, may be made as agreed upon in writing by both the Company and the Placement Agent. The
parties agree that this paragraph 3(c) will need to be amended in accordance with the policies of the TSX Venture Exchange for the Securities to be issued pursuant to the Offering (including the common shares of the Company underlying the Warrants)
to be listed for trading on the TSX Venture Exchange. 
 (d) In addition to any fees payable to the Placement Agent hereunder, subject to
the provisions of Section 3(b), the Company shall promptly upon request from time to time and at each Closing reimburse the Placement Agent for any expenses (including, without limitation, fees and disbursements of the Placement Agent’s
counsel and all travel and other out-of-pocket expenses) in excess of five thousand dollars ($5,000), individually or in the aggregate, incurred by the Placement Agent in connection with its engagement hereunder. 

(e) The Company shall assist and cooperate with legal counsel to the Placement Agent in effecting a filing with respect to the public offering
contemplated by the Registration Statement to be filed in connection with the Offering (an “Issuer Filing”) with the Financial Industry Regulatory Authority (“FINRA”) Corporate Financing Department pursuant to FINRA
Rule 5110, and the Company shall pay the filing fee required by such Issuer Filing and the fees and expenses of counsel to the Placement Agent in connection with the Issuer Filing and clearing such filing with FINRA. The Company shall assist legal
counsel to the Placement Agent in pursuing the Issuer Filing until FINRA issues a letter confirming that it does not object to the terms of the Offering contemplated by the Registration Statement. 

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJ 

 Medifocus, Inc. 

February 2014 
  Page
 5
 
  

 4. Term of Engagement. 

(a) This Agreement will remain in effect until October 31, 2014, after which either party shall have the right to terminate it on thirty
(30) days prior written notice to the other. The date of termination of this Agreement is referred to herein from time to time as the “Termination Date.” The period of time during which this Agreement remains in effect is
referred to herein from time to time as the “Term”. In the event, however in the course of the Placement Agent’s performance of due diligence it deems it necessary to terminate the engagement, the Placement Agent may do so
prior to the termination date and upon immediate written notice. If, within twelve months after the Termination Date, the Company completes any private financing of equity, equity-linked or debt or other capital raising activity of the Company
(other than the exercise by any person or entity of any options, warrants or other convertible securities other than the warrants issued pursuant to this Agreement) with any of the Investors who were first introduced to the Company in connection
with the financing contemplated hereby by the Placement Agent, the Company will pay to the Placement Agent upon the Closing of such financing the compensation set forth in Sections 3(a) and 3(c). 

(b) Notwithstanding anything herein to the contrary, subject to the twelve months limitation described in Section 4(a) above, the
obligation to pay the compensation and expenses described in Section 3, this Section 4, Sections 6 and 8-16 and all of Exhibit A attached, hereto (the terms of which are incorporated by reference hereto), will survive any termination or
expiration of this Agreement. The termination of this Agreement shall not affect the Company’s obligation to pay fees to the extent provided for in Section 3 herein and shall not affect the Company’s obligation to reimburse the
expenses accruing prior to such termination to the extent provided for herein. All such fees and reimbursements due shall be paid to the Placement Agent on or before the Termination Date (in the event such fees and reimbursements are earned or owed
as of the Termination Date) or upon the Closing of the Offering or any applicable portion thereof (in the event such fees are due pursuant to the terms of Section 3 hereof). 

5. Certain Placement Procedures. The Company and the Placement Agent each represents to the other that it has not taken, and the Company and the
Placement Agent each agrees with the other that it will not take any action, directly or indirectly, so as to cause the Offering to fail to be entitled to rely upon the exemption from registration afforded by Section 4(2) of the Securities Act
of 1933, as amended (the “Act”). In effecting the Offering, the Company and the Placement Agent each agrees to comply in all material respects with applicable provisions of the Act and any regulations thereunder and any applicable
laws, rules, regulations and requirements (including, without limitation, all U.S. state law and all national, provincial, city or other legal requirements. The Company agrees that any representations and warranties made by it to any Investor in the
Offering shall be deemed also to be made to the Placement Agent for its benefit. The Company agrees that it shall cause any opinion of its counsel delivered to any Investors in the Offering also to be addressed and delivered to the Placement Agent,
or to cause such counsel to deliver to the Placement Agent a letter authorizing it to rely upon such opinion. 
 6. Indemnification. The
Company agrees to indemnify Placement Agent in accordance with the indemnification and other provisions attached to the Agreement as Exhibit A (the “Indemnification Provisions”), which provisions are incorporated herein by reference
and shall survive the termination or expiration of the Agreement. 

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJ 

 Medifocus, Inc. 

February 2014 
  Page
 6
 
  

 7. Other Activities. The Company acknowledges that the Placement Agent has been, and may in the
future be, engaged to provide services as an underwriter, placement agent, finder, advisor and investment banker to other companies in the industry in which the Company is involved. Subject to the confidentiality provisions of the Placement Agent
contained in Section 2 hereof, the Company acknowledges and agrees that nothing contained in this Agreement shall limit or restrict the right of the Placement Agent or of any member, manager, officer, employee, agent or representative of the
Placement Agent, to be a member, manager, partner, officer, director, employee, agent or representative of, investor in, or to engage in, any other business, whether or not of a similar nature to the Company’s business, nor to limit or restrict
the right of the Placement Agent to render services of any kind to any other corporation, firm, individual or association; provided that the Placement Agent and any of its member, manager, officer, employee, agent or representative shall not use the
Information to the detriment of the Company. the Placement Agent may, but shall not be required to, present opportunities to the Company. 
 8. Future
Rights. Upon the successful completion of any Closing, for a period of eighteen (18) months from the final Closing, the Company grants the Placement Agent the right of participation to act as lead managing underwriter and book runner or
minimally as a co-lead manager and book runner with at least 50% of the economics; or, in the case of a three-handed deal 33% of the economics, for any and all future public and private equity and debt offerings during such eighteen (18) month
period of the Company, or any successor to or any subsidiary of the Company. 
 9. Governing Law; Jurisdiction; Waiver of Jury Trial. This
Agreement will be governed as to validity, interpretation, construction, effect and in all other respects by the internal law of the State of New York. The Company and the Placement Agent each (i) agree that any legal suit, action or proceeding
arising out of or relating to this Agreement shall be instituted exclusively in the New York State Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, (ii) waives any objection to the
venue of any such suit, action or proceeding, and the right to assert that such forum is an inconvenient forum, and (iii) irrevocably consents to the jurisdiction of the New York State Supreme Court, County of New York, and the United States
District Court for the Southern District of New York in any such suit, action or proceeding. Each of the Company and the Placement Agent further agrees to accept and acknowledge service of any and all process that may be served in any such suit,
action or proceeding in the New York State Supreme Court, County of New York, or in the United States District Court for the Southern District of New York and agree that service of process upon it mailed by certified mail to its address shall be
deemed in every respect effective service of process in any such suit, action or proceeding. The parties hereby expressly waive all rights to trial by jury in any suit, action or proceeding arising under this Agreement. 

10. Securities and Other Law Compliance. The Company, at its own expense, will use its best efforts to obtain any registration, qualification or
approval required to sell any Securities under the laws (including U.S. state “blue sky” laws) of any applicable jurisdictions or any instrumentality thereof). 

11. Representations and Warranties. The Company and the Placement Agent each respectively represent and warrant that: (a) it has full
right, power and authority to enter into this Agreement and to perform all of its obligations hereunder; (b) this Agreement has been duly authorized and executed and constitutes a legal, valid and binding agreement of such party enforceable in
accordance with its terms; and (c) the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby does not conflict with or result in a breach of (i) such party’s certificate of incorporation
or by-laws or (ii) any agreement to which such party is a party or by which any of its property or assets is bound. 

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJ 

 Medifocus, Inc. 

February 2014 
  Page
 7
 
  

 12. Parties; Assignment; Independent Contractor; No Tax Advice. This Agreement has been
and is made solely for the benefit of the Placement Agent and the Company and each of the persons, agents, employees, officers, directors and controlling persons referred to in Exhibit A and their respective heirs, executors, personal
representatives, successors and assigns, and nothing contained in this Agreement will confer any rights upon, nor will this Agreement be construed to create any rights in, any person who is not party to such Agreement, other than as set forth in
this section. The rights and obligations of either party under this Agreement may not be assigned without the prior written consent of the other party hereto and any other purported assignment will be null and void. The Placement Agent has been
retained under this Agreement as an independent contractor, and it is understood and agreed that this Agreement does not create a fiduciary relationship between the Placement Agent and the Company or their respective Boards of Directors. The
Placement Agent shall not be considered to be the agent of the Company for any purpose whatsoever and the Placement Agent is not granted any right or authority to assume or create any obligation or liability, express or implied, on the
Company’s behalf, or to bind the Company in any manner whatsoever. The Company acknowledges that the Placement Agent does not provide accounting, tax or legal advice. The Company is authorized, however, subject to applicable law, to disclose
any and all aspects of the Offering that are necessary to support any U.S. federal income tax benefits expected to be claimed with respect to such transaction, and all materials of any kind (including tax opinions and other tax analyses) related to
those benefits. 
 13. Validity. In case any term of this Agreement will be held invalid, illegal or unenforceable, in whole or in part, the
validity of any of the other terms of this Agreement will not in any way be affected thereby. 
 14. Counterparts. This Agreement may be
executed in counterparts and each of such counterparts will for all purposes be deemed to be an original, and such counterparts will together constitute one and the same instrument. 

15. Notices. All notices will be in writing and will be effective when delivered in person or sent via facsimile and confirmed by letter,
to the party to whom it is addressed at the following addresses or such other address as such party may advise the other in writing: 
  

			
	To the Company:	  	 Medifocus, Inc
 The Exchange Tower,

Suite 1800,
 Toronto, ON M5X1E3

Attention: Dr. Augustine Cheung
 Telephone:
(905) 319-7070
 Fax No.: (905) 517-6060

		
	To the Placement Agent	  	 Maxim Group LLC
 405 Lexington Avenue

New York, NY 10174
 Attention: Clifford A. Teller and James
Siegel, Esq.
 Telephone: (212) 895-3500
 Facsimile:
(212) 895-3783 and (212) 895-3860

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJ 

 Medifocus, Inc. 

February 2014 
  Page
 8
 
  

 16. Press Announcements. The Company agrees that the Placement Agent shall, from and after any
Closing, have the right to reference the Offering and the Placement Agent’s role in connection therewith in the Placement Agent’s marketing materials and on its website and to place advertisements in financial and other newspapers and
journals, in each case at its own expense. 
 (Signature Page Follows) 

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJ 

 Medifocus, Inc. 

February 2014 
  Page
 9
 
  

 We are delighted at the prospect of working with you and look forward to proceeding with the
Offering. If you are in agreement with the foregoing, please execute and return two copies of this engagement letter to the undersigned together with payment for in the amount of $15,000 for the Advance. This Agreement may be executed in
counterparts, electronic mail and by facsimile transmission. 
  

			
	Very truly yours,
	
	Maxim Group LLC
	
	/S/ Karl Brenza
	Name:	 	Karl Brenza
	Title:	 	Senior Managing Director, Investment Banking
	
	/S/ Clifford A. Teller
	Name:	 	Clifford A. Teller
	Title:	 	Executive Managing Director of Investment Banking

 Agreed to and accepted this 8th day of March, 2014 

 

			
	/S/ Augustine Cheung
	Name:	 	Dr. Augustine Cheung
	Title:	 	Founder, CEO & President

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJ 

 Medifocus, Inc. 

February 2014 
  Page
 10
 
  

 Exhibit A 

INDEMNIFICATION PROVISIONS 

Capitalized terms used in this Exhibit shall have the meanings ascribed to such terms in the Agreement to which this Exhibit is attached. 

In addition to and without limiting any other right or remedy available to the Placement Agent and the Indemnified Parties (as hereinafter
defined), the Company agrees to indemnify and hold harmless Placement Agent and each of the other Indemnified Parties from and against any and all losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses and
disbursements, and any and all actions, suits, proceedings and investigations in respect thereof and any and all legal and other costs, expenses and disbursements in giving testimony or furnishing documents in response to a subpoena or otherwise
(including, without limitation, the costs, expenses and disbursements, as and when incurred, of investigating, preparing, pursing or defending any such action, suit, proceeding or investigation (whether or not in connection with litigation in which
any Indemnified Party is a party)) (collectively, “Losses”), directly or indirectly, caused by, relating to, based upon, arising out of, or in connection with, Placement Agent’s acting for the Company, including, without limitation,
any act or omission by Placement Agent in connection with its acceptance of or the performance or non-performance of its obligations under the Agreement between the Company and Placement Agent to which these indemnification provisions are attached
and form a part, any breach by the Company of any representation, warranty, covenant or agreement contained in the Agreement (or in any instrument, document or agreement relating thereto, including any agency agreement), or the enforcement by
Placement Agent of its rights under the Agreement or these indemnification provisions, except to the extent that any such Losses are found in a final judgment by a court of competent jurisdiction (not subject to further appeal) to have resulted
primarily and directly from the gross negligence or willful misconduct of the Indemnified Party seeking indemnification hereunder. 
 The
Company also agrees that no Indemnified Party shall have any liability (whether direct or indirect, in contract or tort or otherwise) to the Company for or in connection with the engagement of Placement Agent by the Company or for any other reason,
except to the extent that any such liability is found in a final judgment by a court of competent jurisdiction (not subject to further appeal) to have resulted primarily and directly from such Indemnified Party’s gross negligence or willful
misconduct. 
 These Indemnification Provisions shall extend to the following persons (collectively, the “Indemnified
Parties”): Placement Agent, its present and former affiliated entities, managers, members, officers, employees, legal counsel, agents and controlling persons (within the meaning of the federal securities laws), and the officers, directors,
partners, stockholders, members, managers, employees, legal counsel, agents and controlling persons of any of them. These indemnification provisions shall be in addition to any liability, which the Company may otherwise have to any Indemnified
Party. 
 If any action, suit, proceeding or investigation is commenced, as to which an Indemnified Party proposes to demand
indemnification, it shall notify the Company with reasonable promptness; provided, however, that any failure by an Indemnified Party to notify the Company shall not relieve the Company from its obligations hereunder. An Indemnified
Party shall have the right to retain counsel of its own choice to represent it, and the fees, expenses and disbursements of such counsel shall be borne by the Company. Any such counsel shall, to the extent consistent with its professional
responsibilities, 

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJ 

 Medifocus, Inc. 

February 2014 
  Page
 11
 
  

 
cooperate with the Company and any counsel designated by the Company. The Company shall be liable for any settlement of any claim against any Indemnified Party made with the Company’s
written consent. The Company shall not, without the prior written consent of Placement Agent, settle or compromise any claim, or permit a default or consent to the entry of any judgment in respect thereof, unless such settlement, compromise or
consent (i) includes, as an unconditional term thereof, the giving by the claimant to all of the Indemnified Parties of an unconditional release from all liability in respect of such claim, and (ii) does not contain any factual or legal
admission by or with respect to an Indemnified Party or an adverse statement with respect to the character, professionalism, expertise or reputation of any Indemnified Party or any action or inaction of any Indemnified Party. 

In order to provide for just and equitable contribution, if a claim for indemnification pursuant to these indemnification provisions is made
but it is found in a final judgment by a court of competent jurisdiction (not subject to further appeal) that such indemnification may not be enforced in such case, even though the express provisions hereof provide for indemnification in such case,
then the Company shall contribute to the Losses to which any Indemnified Party may be subject (i) in accordance with the relative benefits received by the Company and its stockholders, subsidiaries and affiliates, on the one hand, and the
Indemnified Party, on the other hand, and (ii) if (and only if) the allocation provided in clause (i) of this sentence is not permitted by applicable law, in such proportion as to reflect not only the relative benefits, but also the
relative fault of the Company, on the one hand, and the Indemnified Party, on the other hand, in connection with the statements, acts or omissions which resulted in such Losses as well as any relevant equitable considerations. No person found liable
for a fraudulent misrepresentation shall be entitled to contribution from any person who is not also found liable for fraudulent misrepresentation. The relative benefits received (or anticipated to be received) by the Company and it stockholders,
subsidiaries and affiliates shall be deemed to be equal to the aggregate consideration payable or receivable by such parties in connection with the transaction or transactions to which the Agreement relates relative to the amount of fees actually
received by Placement Agent in connection with such transaction or transactions. Notwithstanding the foregoing, in no event shall the amount contributed by all Indemnified Parties exceed the amount of fees previously received by Placement Agent
pursuant to the Agreement. 
 Neither termination nor completion of the Agreement shall affect these Indemnification Provisions which shall
remain operative and in full force and effect. The Indemnification Provisions shall be binding upon the Company and its successors and assigns and shall inure to the benefit of the Indemnified Parties and their respective successors, assigns, heirs
and personal representatives. 

  
 Members FINRA & SIPC

 405 Lexington Ave. * New York, NY 10174 * tel: (212) 895-3500 * (800) 724-0761 * fax: (212) 895-3783 * www.maximgrp.com 

New York, NY * Long Island, NY * Red Bank, NJEX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

AMENDMENT No. 2, dated as of September 12, 2014 (this “Amendment”), to the Amended and Restated Credit
Agreement dated as of May 3, 2011 (as amended by Amendment No. 1, dated February 20, 2013), among IASIS HEALTHCARE LLC (the “Borrower”), IASIS HEALTHCARE CORPORATION (“Holdings”), the several
banks and other financial institutions or entities from time to time parties to the Credit Agreement (each a “Lender” and, collectively, the “Lenders”), BANK OF AMERICA, N.A., as Administrative Agent (the
“Administrative Agent”), Collateral Agent, L/C Issuer and Swing Line Lender (as amended, restated, modified and supplemented from time to time, the “Credit Agreement”); capitalized terms used and not otherwise
defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
 WHEREAS, the Borrower desires to amend the Credit
Agreement to permit additional time to reinvest the proceeds from certain asset sales on the terms set forth herein; 
 WHEREAS,
Section 10.01 of the Credit Agreement provides that the Borrower and the Required Lenders may amend the Credit Agreement and the other Loan Documents for certain purposes; 

WHEREAS, the Borrower, the Administrative Agent and the Required Lenders have agreed to amend the Credit Agreement on the terms and conditions
set forth herein; 
 NOW, THEREFORE, in consideration of the premises contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

Section 1. Amendments. Subject to the occurrence of the Amendment No. 2 Effective Date: 

(a)     The definition of “Committed Loan Notice” in Section 1.01 of the Credit Agreement is hereby amended
to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example:
double-underlined text) as set forth below: 

“Committed Loan Notice” means a notice of (a) a Term Borrowing, (b) a Revolving Credit Borrowing,
(c) a conversion of Loans from one Type to the other, or (d) a continuation of LIBOR Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit
A or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the
Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower. 
 (b)     The
definition of “Responsible Officer in Section 1.01 of the Credit Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the
double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth below: 

“Responsible Officer” means the chief executive officer, president, vice president, chief financial officer,
chief accounting officer, treasurer or assistant treasurer or other similar 

 
officer or Person performing similar functions of a Loan Party and, as to any document delivered on the Closing Date, any secretary or assistant secretary of a Loan Party
and, solely for purposes of notices given pursuant to Article II, any other officer or employee of the applicable Loan Party so designated by any of the foregoing officers in a notice to the
Administrative Agent or any other officer or employee of the applicable Loan Party designated in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent. Any document delivered hereunder that is signed by a
Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have
acted on behalf of such Loan Party. 
 (c)     The definition of “Swing Line Loan Notice” in Section 1.01
of the Credit Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as
the following example: double-underlined text) as set forth below: 

“Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.04(b),
which, if in writing, shall be substantially in the form of Exhibit B or such other form as approved by the Administrative Agent (including any form on an electronic
platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower. 

(d)     Section 1.01 of the Credit Agreement is hereby amended by inserting in appropriate alphabetical order the
following new definitions: 
 “Amendment No. 2” means Amendment No. 2 to this Agreement dated as
of September 12, 2014. 
 “Amendment No. 2 Effective Date” means September 12, 2014, the
date of effectiveness of Amendment No. 2. 
 “Specified Proceeds” means the (x) $250,731,000
aggregate Net Cash Proceeds realized or received by the Borrower on September 26, 2013 with respect to the Disposition of certain assets previously identified to the Administrative Agent prior to the Amendment No. 2 Effective Date and
(y) $121,701,000 aggregate Net Cash Proceeds realized or received by the Borrower on September 30, 2013 with respect to the Disposition of certain assets previously identified to the Administrative Agent prior to the Amendment No. 2
Effective Date. 
 (e)     Section 2.02(a) is hereby amended to delete the stricken text (indicated textually in
the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example:
double-underlined text) as set forth below: 
 Each Term
Borrowing, each Revolving Credit Borrowing (other than Swing Line Borrowings with respect to which this Section 2.02 shall not apply), each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each
continua-

  
 2 

 
tion of LIBOR Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such
notice(A) telephone or (B) a Committed Loan Notice; provided that any telephonic notice must be confirmed promptly by delivery to the Administrative Agent of a Committed Loan
Notice. Each such Committed Loan Notice must be received by the Administrative Agent not later than 12:00 noon (i) three (3) Business Days prior to the requested date of any Borrowing or continuation of LIBOR Loans or any conversion of
Base Rate Loans to LIBOR Loans and (ii) one (1) Business Day before the requested date of any Borrowing of Base Rate Loans; provided, that such notice shall be delivered (x) not later than 12:00 noon one Business Day prior to
the Closing Date in the case of the initial Credit Extensions to be made on the Closing Date and (y) not later than 12:00 noon one Business Day prior to the Amendment No. 1 Effective Date in the case of the Credit Extensions to be made on
the Amendment No. 1 Effective Date. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed
and signed by a Responsible Officer of the Borrower. Except on the Amendment No. 1 Effective Date, each Borrowing of, conversion to or continuation of LIBOR Loans shall be in a principal amount of $1,000,000 or a whole multiple of
$500,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan
Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans of a specified Class or Revolving Credit Loans from one Type
to the other, or a continuation of LIBOR Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the Class of Loans to be borrowed, converted or continued, as
the case may be, and the principal amount of Loans to be borrowed, converted or continued, and (iv) the Type of Loans to be borrowed or to which existing Term Loans or Revolving Credit Loans are to be converted and (v) if applicable, the
duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or fails to give a timely notice requesting a conversion or continuation, then the Term Loans or Revolving Credit Loans
shall be made as, or converted to, Base Rate Loans (unless the Loan being continued is a LIBOR Loan, in which case it shall be continued as a LIBOR Loan with an Interest Period of one month). Any such automatic conversion to Base Rate Loans shall be
effective as of the last day of the Interest Period then in effect with respect to the applicable LIBOR Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of LIBOR Loans in any such Committed Loan Notice, but fails to
specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month. 
 (f)    
Section 2.04(b) is hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the
following example: double-underlined text) as set forth below: 

Borrowing Procedures. Each Swing Line Borrowing shall be made upon the Borrower’s irrevocable notice to the Swing
Line Lender and the Administrative Agent, 

  
 3 

 
which may be given by telephone. Each such notice(A) telephone or (B) by a Swing Line Loan Notice; provided that
any telephonic notice must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a Swing Line Loan Notice. Each such Swing Line Loan Notice must be received by the Swing Line Lender and the Administrative
Agent not later than 1:00 p.m. on the requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $100,000 (and any amount in excess of $100,000 shall be an integral multiple of $25,000), and
(ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice,
appropriately completed and signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swing Line Lender of any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the
Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Administrative Agent (by telephone or in writing) of the contents
thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Revolving Credit Lender) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing
(A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first proviso to the first sentence of Section 2.04(a), or (B) that one or more of the applicable conditions
specified in Section 4.02 is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing
Line Loan available to the Borrower. 
 (g)     Section 2.05(a)(i)(1) is hereby amended by adding “be in a
form reasonably acceptable to the Administrative Agent and” following the words “such notice must”. 

(h)     Section 2.05(b)(ii)(B)(y) is hereby amended by adding the following proviso to such section: 

“; provided that, in respect of the Specified Proceeds, the Borrower may reinvest all or any portion of such Net
Cash Proceeds in assets useful for its business within twenty-four (24) months following receipt of such Specified Proceeds” 

(i)     The parenthetical in Section 10.02(c) is hereby amended by adding “notices, “ following the words
“including telephonic”. 
 (j)     Section 10.02(d) is hereby amended by adding “or notices through
the Platform, any other electronic platform or electronic messaging service, or” prior to the words “through the Internet.” 

(k)     A new Section 10.21 is added as follows: 

Electronic Execution of Assignments and Certain Other Documents. The words “execute,” “execution,”
“signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Agreement and the transactions con-

  
 4 

 
templated hereby (including without limitation Assignment and Assumptions, amendments or other modifications, Committed Loan Notices, Swing Line Loan Notices, waivers and consents) shall be
deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the
same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the
contrary the Administrative Agent is under no obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it. 

Section 2.     Representations and Warranties, No Default. The Borrower hereby represents and warrants
that as of the Amendment No. 2 Effective Date (as defined below), after giving effect to this Amendment, (i) no Default or Event of Default has occurred and is continuing and (ii) all representations and warranties made by the
Borrower contained in the Credit Agreement or in the other Loan Documents are true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date hereof (except where such
representations and warranties expressly relate to an earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date); provided 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 the date hereof or on such earlier date, as the case may be (after giving effect to such qualification).

 Section 3.     Effectiveness. This Amendment shall become effective on the date (such date, the
“Amendment No. 2 Effective Date”) that the following conditions have been satisfied: 

(i)     Consents. The Administrative Agent shall have received executed signature pages hereto from
Lenders constituting the Required Lenders and the Borrower; 
 (ii)    Fees. (a) The
Administrative Agent shall have received the fees in the amounts previously agreed in writing by the Administrative Agent to be received on the Amendment No. 2 Effective Date, and all reasonable and documented expenses required to be paid or
reimbursed under Section 10.04 of the Credit Agreement for which invoices have been presented a reasonable period of time prior to the Amendment No. 2 Effective Date and (b) the Borrower shall have paid or caused to be paid for the
account of each Lender executing this Amendment on or prior to 5:00 p.m. Eastern Time on September 9, 2014 (or as otherwise agreed), a nonrefundable fee equal to 0.10% of the aggregate principal amount of the Term Loans and Revolving Credit
Commitments of such Lender; and 
 (iii)     Officer’s Certificate. The Administrative Agent
shall have received a certificate of an Authorized Officer of the Borrower dated the Amendment No. 2 Effective 

  
 5 

 
Date certifying that (a) all representations and warranties made by the Borrower contained in the Credit Agreement or in the other Loan Documents are true and correct in all material
respects with the same effect as though such representations and warranties had been made on and as of the Amendment No. 2 Effective Date (except where such representations and warranties expressly relate to an earlier date, in which case such
representations and warranties were true and correct in all material respects as of such earlier date); provided 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 the Amendment No. 2 Effective Date or on such earlier date, as the case may be (after giving effect to such qualification) and (b) no Default, shall have occurred and be
continuing. 
 Section 4.     Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto on separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all of which when taken together shall constitute a single instrument. Delivery of an executed
counterpart of a signature page of this Amendment by facsimile or any other electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 

Section 5.     Headings. The headings of this Amendment are for purposes of reference only and
shall not limit or otherwise affect the meaning hereof. 
 Section 6.     Effect of
Amendment. Except as expressly set forth herein, (i) this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent or the
Collateral Agent, in each case under the Credit Agreement or any other Loan Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit
Agreement or any other Loan Document. Except as expressly set forth herein, each and every term, condition, obligation, covenant and agreement contained in the Credit Agreement or any other Loan Document is hereby ratified and re-affirmed in all
respects and shall continue in full force and effect and the Borrower reaffirms its obligations under the Loan Documents to which it is party and the grant of its Liens on the Collateral made by it pursuant to the Security Documents. This Amendment
shall constitute a Loan Document for purposes of the Credit Agreement, including without limitation for purposes of Sections 10.15 and 10.16 thereof, and from and after the Amendment No. 2 Effective Date, all references to the Credit Agreement
in any Loan Document and all references in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement, shall, unless expressly provided otherwise, refer to
the Credit Agreement as amended by this Amendment. The Borrower hereby consents to this Amendment and confirms that all of its obligations under the Loan Documents to which the Borrower is a party shall continue to apply to the Credit Agreement as
amended hereby. 
  

  
 6 

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

			
	IASIS HEALTHCARE LLC
		
	By:	 	/s/ John M. Doyle
		 	Name: John M. Doyle
		 	Title: Chief Financial Officer
	
	IASIS HEALTHCARE CORPORATION
		
	By:	 	/s/ John M. Doyle
		 	Name: John M. Doyle
		 	Title: Chief Financial Officer

 [Signature Page to Amendment No. 2] 

 
			
	BANK OF AMERICA, N.A.,
	as Administrative Agent and Collateral Agent
		
	By:	 	/s/ Kevin L. Ahart
		 	Name: Kevin L. Ahart
		 	Title: Vice President

 [Signature Page to Amendment No. 2] 

 [EXECUTED SIGNATURE PAGES OF REQUIRED LENDERS AND REVOLVING LENDERS ON FILE WITH THE
ADMINISTRATIVE AGENT] 
 [Signature Page to Amendment No. 2]

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