Document:

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EXHIBIT 10.1

          SETTLEMENT AGREEMENT, GENERAL RELEASE AND COVENANT NOT TO SUE

         This Settlement Agreement, General Release and Covenant Not to Sue
("Settlement Agreement") is made this 25th day of March, 2009 by and among
Integrated Healthcare Holdings, Inc. ("IHHI"), Anil V. Shah, M.D. ("Dr. Shah"),
Orange County Physicians Investment Network, LLC ("OC-PIN"), Bruce Mogel
("Mogel"), Pacific Coast Holdings Investment, LLC ("PCHI"), West Coast Holdings,
LLC, ("WCH"), Dr. Kali P. Chaudhuri ("Dr. Chaudhuri"), Ganesha Realty, LLC
("Ganesha"), William E. Thomas ("Thomas"), Medical Capital Corporation ("MCC"),
Medical Provider Financial Corporation I ("MPFCI"), Medical Provider Financial
Corporation II ("MPFCII") and Medical Provider Financial Corporation III
("MPFCIII")(MCC, MPFCI, MPFCII and MPFCIII are sometimes hereinafter
collectively referred to as "MedCap"). All the above entities and individuals
are sometimes hereinafter collectively referred to as "Parties" or individually
as a "Party."

                                    RECITALS

         A. Certain of the Parties are currently engaged in litigation,
appellate, arbitration and/or court proceedings and/or have certain legal
disputes and issues with each other as more particularly set forth herein below.

         B. Specifically:

               a. IHHI is now suing Dr. Shah in Orange County Superior Court
               ("OCSC") Case No. 07CC05895 (consolidated with OCSC Case No.
               07CC06017) and OCSC Case No. 30-2008-106637;

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               b. Dr. Shah has filed a cross-complaint against IHHI in OCSC Case
               No. 07CC05895;

               c. OC-PIN (previously dismissed as a named defendant in OCSC Case
               No. 07CC05895) is now suing Mogel in OCSC Case No.
               30-2008-00109286 (a derivative action purportedly filed on behalf
               of IHHI);

               d. OC-PIN is also suing IHHI in OCSC Case Nos. 30-2008-00106805,
               30-2008-00108983; 30-2008-00109959 and 30-2008-00112102;

               e. Dr. Chaudhuri is now suing OC-PIN in OCSC Case No.
               30-2008-0011293;

               f. Dr. Shah presently seeks to perfect an arbitration award in
               his favor against PCHI (JAMS Case No. 1200040611) in OCSC Case
               No. 30-2008-00114434; and

               g. PCHI is suing OC-PIN et al. in OCSC Case No. 30-2008-00112088.

         C. The foregoing litigation has spawned various related appellate
proceedings including, but not limited to, California Fourth Appellate District
Case Nos. G041208, G041181, G041491 and California Supreme Court Case No.
S168604.

         D. Some of the foregoing litigation has been stayed, while other
aspects of the litigation are now scheduled to be tried on July 27, 2009.

         E. All of the above described litigation, arbitration, appellate and
other legal proceedings are hereinafter collectively referred to as the
"Actions."

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         F. In addition to the foregoing, periodic threats have been made by Dr.
Shah, OC-PIN and/or their legal counsel to hereinafter sue Dr. Chaudhuri, MedCap
and/or IHHI's individual directors, executives and attorneys on a variety of
theories, either directly or derivatively purportedly on behalf of IHHI.
Periodic allegations have also been made against Dr. Chaudhuri and others
alleging that Dr. Chaudhuri is not properly managing PCHI and that PCHI is not
acting properly defending claims brought against it by Dr. Shah. Certain members
of OC-PIN have also made threats and allegations against one another and some
members of OC-PIN have assigned certain threatened claims to IHHI. Dr. Chaudhuri
and PCHI have challenged the confirmation of the Arbitration Award in favor of
Dr. Shah and have indicated that they will pursue all appellate avenues.

         G. For reasons of their own and without admission of wrongdoing or
liability of any sort, the signatories to this Settlement Agreement wish to
fully and finally resolve the foregoing pending Actions and threatened
litigation, arbitration and discovery disputes, together with any and all
possible claims, disputes or disagreements among certain of the Parties relating
to any past fact, act or occurrence (except as expressly reserved herein)
("Settlement").

         H. Certain of the Parties have entered into a separate settlement
agreement ("Second Settlement Agreement") concurrently herewith. No term or
provision of the Second Settlement Agreement contradicts or is inconsistent with
any term or provision of this Settlement Agreement nor does any term or
provision of the Second Settlement Agreement decrease, diminish or reduce any of
the agreements, covenants, waivers, or releases made by or granted to any of the
Parties to this Settlement Agreement.

         NOW, THEREFORE, in consideration of the mutual covenants, promises and
undertakings set forth below, the adequacy and sufficiency of which are hereby
expressly acknowledged by each of the Parties hereto, the Parties agree as
follows:

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                                    COVENANTS

         1. The foregoing Recitals are incorporated by reference as if fully set
forth herein.

         2. The Closing of the Settlement ("Closing") shall occur on or before
March 27, 2009 at Callahan & Blaine, 3 Hutton Centre Drive, Ninth Floor, Santa
Ana, California.

         3. The Closing shall be contingent upon, subject to and concurrent with
the Closing of the Second Settlement Agreement.

         MONETARY.
         ---------

         4. IHHI shall pay the Callahan & Blaine Trust Account as the jointly
designated representative of OC-PIN and Dr. Shah the total sum of One Million
Five Hundred Thousand Dollars ($1,500,000) in two installments as follows: Seven
Hundred Fifty Thousand Dollars ($750,000) payable at the Closing; and Seven
Hundred Fifty Thousand Dollars ($750,000) and interest thereon payable at eight
percent (8%) payable on September 25, 2009. Payment of the second installment is
hereby guaranteed by PCHI, who shall make such payment by September 28, 2009, if
not timely paid by IHHI.

         5. At the Closing, PCHI will separately pay to the Callahan & Blaine
Trust Account, as the designated representative of Dr. Shah, Eight Hundred Fifty
Thousand Dollars ($850,000).

         6. At the Closing, MedCap will separately pay to the Callahan & Blaine
Trust Account, as the jointly designated representative of OC-PIN and Dr. Shah,
Three Hundred Fifty Thousand Dollars ($350,000).

         7. At the Closing, IHHI shall pay to the Callahan & Blaine Trust
Account, as the designated representative of Dr. Shah, the sum of Fifteen
Thousand Dollars ($15,000) in satisfaction of all Shah's individual claims
including, but not limited to, his claims for past due director's fees and other
compensation.

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         8. [Intentionally Omitted.]

         9. At the Closing, IHHI and Mogel shall agree and stipulate to the
release and return of the $50,000 bond which was posted in connection with the
shareholder derivative action filed by OC-PIN against Mogel and IHHI in OCSC
Case No. 30-2008-00109286.

         STOCK PURCHASE AGREEMENTS.
         --------------------------

         10. At the Closing, IHHI, Dr. Shah, Dr. Chaudhuri and OC-PIN agree to
execute and deliver their respective Stock Purchase Agreements in the forms
attached hereto as Exhibits A, B and C ("Stock Purchase Agreements"). The shares
purchased under the Stock Purchase Agreements shall be referred to as the "Stock
Purchase Shares." The Stock Purchase Agreements are an integral part of this
First Settlement Agreement, the terms of which Stock Purchase Agreements are
incorporated by reference as though fully set forth herein.

         If either OC-PIN or Dr. Shah choose not to purchase all of the
respective Stock Purchase Shares, then those Stock Purchase Shares which either
party elects not to purchase may be purchased by the other party. Either party
who elects not to purchase all or part of their Stock Purchase Shares shall give
appropriate notice to the other party no later than 20 days after Closing.
Within 30 days after Closing, OC-PIN and Dr. Shah shall jointly notify IHHI and
Dr. Chaudhuri in writing ("SPA Notice") of their final determination of the
number of Stock Purchase Shares subject to their respective Stock Purchase

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Agreements whereupon such Stock Purchase Agreements shall be deemed so amended
to reflect the final number of Stock Purchase Shares being purchased. In the
event IHHI and Dr. Chaudhuri do not receive a SPA Notice duly executed by OC-PIN
and Dr. Shah within 30 days of Closing there shall be no adjustment in the
number of shares subject to any of the Stock Purchase Agreements.

         In the event that OC-PIN and Dr. Shah purchase, in the aggregate, fewer
Stock Purchase Shares than the maximum they were entitled to purchase under the
terms of their Stock Purchase Agreements then Dr. Chaudhuri agrees that the
number of Stock Purchase Shares he is entitled to purchase under his Stock
Purchase Agreement shall be automatically reduced to an amount which is 51% of
the aggregate number of Stock Purchase Shares which Dr. Chaudhuri, OC-PIN and
Dr. Shah actually purchase under their Stock Purchase Agreements. By way of
illustration, if OC-PIN and Dr. Shah actually purchase an aggregate of 15
million shares, then Dr. Chaudhuri is entitled to purchase 15,612,245 shares
which is 51% of the aggregate number of shares being sold under all Stock
Purchase Agreements.

         At the same time, as part of the SPA Notice, OC-PIN and Dr. Shah must
elect whether they intend to use as a credit all or a portion of the second
Seven Hundred Fifty Thousand Dollars ($750,000) payment (as specified in
Paragraph 4 above and hereinafter referred to as the "Second Payment"), and any
accrued interest thereon, toward OC-PIN and Dr. Shah's payment to IHHI for their
respective Stock Purchase Shares. In the SPA Notice, OC-PIN and Shah will
provide an agreed allocation of the Second Payment signed by each of them.
Neither OC-PIN nor Dr. Shah are entitled to use as a credit all or a portion of
the Second Payment unless such a fully signed allocation is so provided. If
OC-PIN and Dr. Shah properly provide a SPA Notice with a fully signed

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allocation, they can use so much of the amount allocated as a credit applicable
to their respective obligations under their respective Stock Purchase
Agreements. If the credit is more than what is owed to IHHI, then IHHI will
continue to owe the balance under the terms of Section 4. If the credit is less
than what is owed to IHHI, OC-PIN and Dr. Shah will need to furnish the
additional funds at the Closing of their respective Stock Purchase Agreements.
If OC-PIN and Dr. Shah fail to timely give the SPA Notice with fully signed
allocation, then no credit shall be given but IHHI shall continue to owe the
Second Payment under the terms of Section 4.

         11. IHHI agrees (and MedCap concurs) that IHHI will use the net
proceeds of the sale of the Stock Purchase Shares to pay down the principal
balance of IHHI's $10,700,000 Convertible Term Note, dated October 9, 2007, held
by MPFCIII, and MedCap agrees to promptly advance (or cause its subsidiaries to
promptly advance) to IHHI additional funds equal to such amount by which the
$10,700,000 Convertible Term Note is paid down ("Additional Loaned Funds"). IHHI
agrees (and MedCap concurs) that the source of the Additional Loaned Funds will
be further borrowing on and against IHHI's existing lines of credit with MedCap.
If necessary, IHHI then agrees to use the Additional Loaned Funds to bring
current the Chapman Lease and the PCHI Lease, including all late fees,
penalties, etc., associated with IHHI's failure to timely pay such rent and
other payments required under the leases.

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         12. IHHI shall use its reasonable best efforts to ensure that it has
enough authorized capital stock to issue the Stock Purchase Shares, after
consideration of all previously granted warrants, conversion rights and stock
purchase agreements. The IHHI Board has authorized, and the majority-in-interest
of IHHI's shareholders have consented to an increase in authorized capital stock
to accommodate the Stock Purchase Agreements. IHHI has filed an information
statement on Schedule 14C with the Securities and Exchange Commission ("SEC").
IHHI covenants to promptly (1) seek to have such information statement declared
effective by the SEC, (2) respond to any comments by the SEC, (3) mail the
information statement to the shareholders, and (4) file restated articles of
incorporation with the Nevada Secretary of State. The increase in authorized
capital stock shall be completed within 45 days subject to reasonable extension
if IHHI must respond to SEC comments. Notwithstanding the foregoing, in no event
shall IHHI be required to perform under the Stock Purchase Agreements if the
effect would be to require IHHI to issue shares, including outstanding warrants,
conversion rights and stock purchase options, in excess of its authorized and
unreserved capital stock.

         13. OC-PIN expressly acknowledges the validity and enforceability of
the preemptive rights granted by IHHI to Dr. Chaudhuri. OC-PIN recognizes that
in connection with this Settlement Agreement, OC-PIN is releasing its claim that
IHHI granted or should have granted OC-PIN competing or superior preemptive
rights and acknowledges that as of the Closing, it does not have any preemptive
rights with respect to securities of IHHI; provided, however, nothing herein is
intended to affect the Stock Purchase Agreements described in Section 10 of this
Settlement Agreement or the OC-PIN members' Tag Along Right described in the
Shareholder's Agreement referenced in the Second Settlement Agreement.

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         LOAN INTEREST AND RENT REDUCTION.
         ---------------------------------

         14. MPFCII agrees, effective as of the Closing, to reduce the interest
rate on the $45,000,000 Term Note dated October 9, 2007 ("Term Note") to simple
interest of 10.25% and to maintain such interest rate up to and including the
Maturity date of such Term Note, or any extension thereof, as defined in the
$80,000,000 Credit Agreement dated October 9, 2007 ("Credit Agreement"), under
which Credit Agreement the Term Note was issued ("MedCap Debt Service
Reduction"). Provided, however, the MedCap Debt Service Reduction shall have no
force or effect, and shall be suspended, at any time an Event of Default shall
have occurred and continues under the Credit Agreement. PCHI agrees that during
the period of the MedCap Debt Service Reduction it will reduce the rent payable
by IHHI to PCHI in an amount equal to the MedCap Debt Service Reduction (I.E.,
the difference between 14% and 10.25%). At Closing, all parties to the Credit
Agreement will execute and deliver to MPFCII a written amendment to the Credit
Agreement memorializing the MedCap Debt Service Reduction set forth immediately
above.

PCHI RENT.
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         15. IHHI agrees to bring the PCHI lease and the Chapman leases current
and pay all arrearages due under the PCHI Lease and the Chapman leases within
forty-five (45) days after the Closing.

IHHI BY-LAWS AND BOARD CHANGES.
-------------------------------

         16. OC-PIN's obligation to fulfill its agreements at the Closing shall
be subject to the following actions by IHHI's Board of Directors:

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         i.    Approve an amendment to IHHI's Bylaws to provide that the number
               of members serving on IHHI's Board of Directors shall be fixed at
               seven. This amendment shall be made not later than Closing.

         ii.   Approve an amendment to Section 4 of Article III of IHHI's Bylaws
               to provide that, effective immediately after IHHI's 2009 Annual
               Meeting of Shareholders, a Shareholder who owns fifteen percent
               (15%) or more of the voting stock of IHHI is entitled to call one
               special shareholders meeting per year. This amendment shall be
               made not later than Closing; and

         iii.  Appoint an OC-PIN representative selected by a
               majority-in-interest of OC-PIN to fill the seat to be vacated by
               Ken Westbrook at Closing until the September 2009 annual meeting
               of shareholders.

         17. In connection with the provisions set forth in Paragraph 16
immediately above, MedCap (and all related and affiliated persons and entities)
makes no representation or takes any position other than as set forth in the $80
Million Loan Documents and the Other Loan Documents (as said terms are defined
in Paragraph 23(x) below.)

         18. Dr. Shah and OC-PIN agree to make, within five (5) business days
after the Closing, and keep current on a timely basis, all such filings and
reports that are required to be made by each of them under Section 13(d) of the
Securities Exchange Act of 1934, as amended, including such filings or reports
that are required to publicly disclose or report to the SEC the transactions
contemplated by this Settlement Agreement.

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         19. Dr. Shah covenants and agrees that for a period of two (2) years
after the Closing Dr. Shah will not accept any nomination, appointment or serve
in the capacity as a director, officer or employee of IHHI, so long as IHHI
keeps the PCHI and Chapman leases current ("current" means payment is made
within forty-five (45) days of when payment is due).

         DISMISSALS AND RELEASES.
         ------------------------

         20. Dr. Shah and OC-PIN specifically covenant not to sue, and further
covenant not to assist anyone else in suing, directly or derivatively on behalf
of IHHI or any other entity, Dr. Chaudhuri or MedCap (and all related and
affiliated persons and entities). Dr. Chaudhuri and MedCap specifically covenant
not to sue, and further covenant not to assist anyone else in suing, directly or
derivatively on behalf of IHHI or any other entity, Dr. Shah and OC-PIN based on
any act, occurrence or omission which occurred or allegedly occurred prior to
the Closing.

         21. At the Closing, Dr. Shah and OC-PIN shall sign and deliver to IHHI,
PCHI, Chaudhuri and Mogel dismissals with prejudice of all Dr. Shah and OC-PIN's
claims in the Actions described in the Recitals.

         22. At the Closing, IHHI, PCHI and Chaudhuri shall sign and deliver to
Shah and OC-PIN dismissals with prejudice of all IHHI, PCHI and Chaudhuri's
claims against Dr. Shah and/or OC-PIN in the Actions described in the Recitals.

         23. Except as to such rights or claims as may be created by this
Settlement Agreement, the Second Settlement Agreement or expressly reserved in
either of them, the following releases are provided:

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         i.    RELEASE OF CLAIMS BY IHHI. IHHI irrevocably, unconditionally and
               fully releases and forever discharges OC-PIN, Dr. Shah, PCHI,
               WCH, MedCap (and all related and affiliated persons and
               entities), Dr. Chaudhuri, Ganesha, Thomas and their respective
               past and present subsidiaries, affiliates, officers, directors,
               partners, agents, employees, members, managers, representatives,
               lawyers and law firms, and all persons acting by, through, under
               or in concert with them, or any of them, from any and all rights,
               suits, claims, actions, accounts, demands, contracts, debts,
               controversies, agreements, promises, liabilities, duties,
               obligations, costs, expenses, damages and causes of action,
               whether presently known or unknown, vested or contingent,
               suspected or unsuspected, accrued or yet to accrue, in law or in
               equity, which IHHI may now or hereafter have, own or claim to
               have arising out of, connected with or otherwise related to or
               concerning the Actions, any facts, circumstances or claims which
               were alleged or which could have been alleged in the pleadings in
               the Actions, or which could have been asserted in any action or
               proceeding in any legal, administrative or other forum whatsoever
               in any jurisdiction, including, but not limited to, any legal
               fees, court costs or expenses relating to the Actions; provided,
               however, nothing in this Settlement Agreement shall constitute or
               include a release or compromise of any claims by IHHI against
               Mogel, either in his individual or representative capacity as an
               agent for any party.

               THIS IS A GENERAL RELEASE.

         ii.   RELEASE OF CLAIMS BY OC-PIN OC-PIN irrevocably, unconditionally
               and fully releases and forever discharges IHHI, Mogel, PCHI, Dr.
               Chaudhuri, Ganesha, Thomas, MedCap (and all related and
               affiliated persons and entities), and their respective past and
               present subsidiaries, affiliates, officers, directors, partners,

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               agents, employees, members, managers, insurers, representatives,
               lawyers and law firms, and all persons acting by, through, under
               or in concert with them, or any of them, from any and all rights,
               suits, claims, actions, accounts, demands, contracts, debts,
               controversies, agreements, promises, liabilities, duties,
               obligations, costs, expenses, damages and causes of action,
               whether presently known or unknown, vested or contingent,
               suspected or unsuspected, accrued or yet to accrue, in law or in
               equity, which OC-PIN may now or hereafter have, own or claim to
               have arising out of, connected with or otherwise related to or
               concerning the Actions, any facts, circumstances or claims which
               were alleged or which could have been alleged in the pleadings in
               the Actions, or which could have been asserted in any action or
               proceeding in any legal, administrative or other forum whatsoever
               in any jurisdiction, including, but not limited to, any legal
               fees, court costs or expenses relating to the Actions; provided,
               however, nothing in this Settlement Agreement shall constitute or
               include a release or compromise of OC-PIN's rights to enforce its
               preexisting ownership of IHHI's stock (acknowledging that it does
               not have preemptive rights) or previous releases which IHHI has
               executed in favor of OC-PIN.

               THIS IS A GENERAL RELEASE.

         iii.  RELEASE OF CLAIMS BY DR. SHAH. Dr. Shah irrevocably,
               unconditionally and fully releases and forever discharges IHHI,
               Mogel, PCHI, Dr. Chaudhuri, Ganesha, Thomas, MedCap (and all
               related and affiliated persons and entities), and their
               respective past and present subsidiaries, affiliates, officers,

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               directors, partners, agents, employees, members, managers,
               insurers, representatives, lawyers and law firms, and all persons
               acting by, through, under or in concert with them, or any of
               them, from any and all rights, suits, claims, actions, accounts,
               demands, contracts, debts, controversies, agreements, promises,
               liabilities, duties, obligations, costs, expenses, damages and
               causes of action, whether presently known or unknown, vested or
               contingent, suspected or unsuspected, accrued or yet to accrue,
               in law or in equity, which Dr. Shah may now or hereafter have,
               own or claim to have arising out of, connected with or otherwise
               related to or concerning the Actions, any facts, circumstances or
               claims which were alleged or which could have been alleged in the
               pleadings in the Actions, or which could have been asserted in
               any action or proceeding in any legal, administrative or other
               forum whatsoever in any jurisdiction, including, but not limited
               to, any legal fees, court costs or expenses relating to the
               Actions; provided, however, nothing in this Settlement Agreement
               shall constitute or include a release or compromise of Dr. Shah's
               right to enforce his preexisting ownership and contractual rights
               with OC-PIN or WCH.

               THIS IS A GENERAL RELEASE.

         iv.   RELEASE OF CLAIMS BY MOGEL. Mogel irrevocably, unconditionally
               and fully releases and forever discharges IHHI, OC-PIN, Dr. Shah,
               PCHI, WCH, Dr. Chaudhuri, Ganesha, Thomas, MedCap (and all
               related and affiliated persons and entities), and their

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               respective past and present subsidiaries, affiliates, officers,
               directors, partners, agents, employees, members, managers,
               representatives, lawyers and law firms, and all persons acting
               by, through, under or in concert with them, or any of them, from
               any and all rights, suits, claims, actions, accounts, demands,
               contracts, debts, controversies, agreements, promises,
               liabilities, duties, obligations, costs, expenses, damages and
               causes of action, whether presently known or unknown, vested or
               contingent, suspected or unsuspected, accrued or yet to accrue,
               in law or in equity, which Mogel may now or hereafter have, own
               or claim to have arising out of, connected with or otherwise
               related to or concerning the Actions, any facts, circumstances or
               claims which were alleged or which could have been alleged in the
               pleadings in the Actions, or which could have been asserted in
               any action or proceeding in any legal, administrative or other
               forum whatsoever in any jurisdiction, including, but not limited
               to, any legal fees, court costs or expenses relating to the
               Actions; provided, however, nothing in this Settlement Agreement
               is intended to or shall be construed to extinguish, release,
               waive, restrict, reduce, or modify any rights of Mogel under his
               pre-existing Resignation Agreement dated November 4, 2008
               ("Resignation Agreement") with IHHI or rights recognized in such
               Resignation Agreement including, but not limited to, Mogel's
               rights to indemnification as set forth and recognized in Section
               7(d) of the Resignation Agreement, and nothing in this Settlement
               Agreement shall constitute or include a release or compromise of
               Mogel's right to enforce his pre-existing Resignation Agreement
               with IHHI.

               THIS IS A GENERAL RELEASE.

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         v.    RELEASE OF CLAIMS BY PCHI. PCHI irrevocably, unconditionally and
               fully releases and forever discharges its members and managers,
               IHHI, OC-PIN, Dr. Shah, Dr. Jacob Sweidan, WCH, Dr. Chaudhuri,
               Ganesha, Thomas, Mogel MedCap (and all related and affiliated
               persons and entities), and their respective past and present
               subsidiaries, affiliates, officers, directors, partners, agents,
               employees, members, managers, representatives, lawyers and law
               firms, and all persons acting by, through, under or in concert
               with them, or any of them, from any and all rights, suits,
               claims, actions, accounts, demands, contracts, debts,
               controversies, agreements, promises, liabilities, duties,
               obligations, costs, expenses, damages and causes of action,
               whether presently known or unknown, vested or contingent,
               suspected or unsuspected, accrued or yet to accrue, in law or in
               equity, which PCHI may now or hereafter have, own or claim to
               have arising out of, connected with or otherwise related to or
               concerning the Actions, any facts, circumstances or claims which
               were alleged or which could have been alleged in the pleadings in
               the Actions, or which could have been asserted in any action or
               proceeding in any legal, administrative or other forum whatsoever
               in any jurisdiction, including, but not limited to, any legal
               fees, court costs or expenses relating to the Actions; provided,
               however, nothing in this Settlement Agreement shall constitute or
               include a release or compromise of PCHI's right to enforce its
               pre-existing lease with IHHI.

               THIS IS A GENERAL RELEASE.

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         vi.   Release of Claims by WCH. WCH irrevocably, unconditionally and
               fully releases and forever discharges IHHI, Mogel, PCHI, Dr.
               Chaudhuri, Dr. Shah, Dr. Jacob Sweidan, Ganesha, Thomas, MedCap
               (and all related and affiliated persons and entities), and their
               respective past and present subsidiaries, affiliates, officers,
               directors, partners, agents, employees, members, managers,
               representatives, lawyers and law firms, and all persons acting
               by, through, under or in concert with them, or any of them, from
               any and all rights, suits, claims, actions, accounts, demands,
               contracts, debts, controversies, agreements, promises,
               liabilities, duties, obligations, costs, expenses, damages and
               causes of action, whether presently known or unknown, vested or
               contingent, suspected or unsuspected, accrued or yet to accrue,
               in law or in equity, which WCH may now or hereafter have, own or
               claim to have arising out of, connected with or otherwise related
               to or concerning the Actions, any facts, circumstances or claims
               which were alleged or which could have been alleged in the
               pleadings in the Actions, or which could have been asserted in
               any action or proceeding in any legal, administrative or other
               forum whatsoever in any jurisdiction, including, but not limited
               to, any legal fees, court costs or expenses relating to the
               Actions; provided, however, nothing in this Settlement Agreement
               shall constitute or include a release or compromise of WCH's
               right to enforce its preexisting ownership and contractual rights
               in and with PCHI.

               THIS IS A GENERAL RELEASE.

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         vii.  RELEASE OF CLAIMS BY DR. CHAUDHURI. Dr. Chaudhuri irrevocably,
               unconditionally and fully releases and forever discharges IHHI,
               Dr. Shah, Mogel, OC-PIN, PCHI, WCH, MedCap (and all related and
               affiliated persons and entities), and their respective past and
               present subsidiaries, affiliates, officers, directors, partners,
               agents, employees, members, managers, representatives, lawyers
               and law firms, and all persons acting by, through, under or in
               concert with them, or any of them, from any and all rights,
               suits, claims, actions, accounts, demands, contracts, debts,
               controversies, agreements, promises, liabilities, duties,
               obligations, costs, expenses, damages and causes of action,
               whether presently known or unknown, vested or contingent,
               suspected or unsuspected, accrued or yet to accrue, in law or in
               equity, which Dr. Chaudhuri may now or hereafter have, own or
               claim to have arising out of, connected with or otherwise related
               to or concerning the Actions, any facts, circumstances or claims
               which were alleged or which could have been alleged in the
               pleadings in the Actions, or which could have been asserted in
               any action or proceeding in any legal, administrative or other
               forum whatsoever in any jurisdiction, including, but not limited
               to, any legal fees, court costs or expenses relating to the
               Actions; provided, however, nothing in this Settlement Agreement
               shall constitute or include a release or compromise of Dr.
               Chaudhuri's right to enforce his pre-existing ownership and
               contractual rights in and with IHHI including, but not limited
               to, the above-described preemptive rights and Stock Purchase
               Agreement.

               THIS IS A GENERAL RELEASE.

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         viii. RELEASE OF CLAIMS BY GANESHA. Ganesha irrevocably,
               unconditionally and fully releases and forever discharges IHHI,
               Dr. Shah, Mogel, OC-PIN, PCHI, WCH, MedCap (and all related and
               affiliated persons and entities), and their respective past and
               present subsidiaries, affiliates, officers, directors, partners,
               agents, employees, members, managers, representatives, lawyers
               and law firms, and all persons acting by, through, under or in
               concert with them, or any of them, from any and all rights,
               suits, claims, actions, accounts, demands, contracts, debts,
               controversies, agreements, promises, liabilities, duties,
               obligations, costs, expenses, damages and causes of action,
               whether presently known or unknown, vested or contingent,
               suspected or unsuspected, accrued or yet to accrue, in law or in
               equity, which Ganesha may now or hereafter have, own or claim to
               have arising out of, connected with or otherwise related to or
               concerning the Actions, any facts, circumstances or claims which
               were alleged or which could have been alleged in the pleadings in
               the Actions, or which could have been asserted in any action or
               proceeding in any legal, administrative or other forum whatsoever
               in any jurisdiction, including, but not limited to, any legal
               fees, court costs or expenses relating to the Actions; provided,
               however, nothing in this Settlement Agreement shall constitute or
               include a release or compromise of Ganesha's right to enforce its
               pre-existing ownership and contractual rights in and with PCHI.

               THIS IS A GENERAL RELEASE.

                                       19
<PAGE>

         ix.   RELEASE OF CLAIMS BY THOMAS. Thomas irrevocably, unconditionally
               and fully releases and forever discharges IHHI, Dr. Shah, Mogel,
               OC-PIN, PCHI, WCH, MedCap (and all related and affiliated persons
               and entities), and their respective past and present
               subsidiaries, affiliates, officers, directors, partners, agents,
               employees, members, managers, representatives, lawyers and law
               firms, and all persons acting by, through, under or in concert
               with them, or any of them, from any and all rights, suits,
               claims, actions, accounts, demands, contracts, debts,
               controversies, agreements, promises, liabilities, duties,
               obligations, costs, expenses, damages and causes of action,
               whether presently known or unknown, vested or contingent,
               suspected or unsuspected, accrued or yet to accrue, in law or in
               equity, which Thomas may now or hereafter have, own or claim to
               have arising out of, connected with or otherwise related to or
               concerning the Actions, any facts, circumstances or claims which
               were alleged or which could have been alleged in the pleadings in
               the Actions, or which could have been asserted in any action or
               proceeding in any legal, administrative or other forum whatsoever
               in any jurisdiction, including, but not limited to, any legal
               fees, court costs or expenses relating to the Actions; provided,
               however, nothing in this Settlement Agreement shall constitute or
               include a release or compromise of Thomas' right to enforce his
               pre-existing ownership and contractual rights in and with IHHI.

               THIS IS A GENERAL RELEASE.

                                       20
<PAGE>

         x.    RELEASE OF CLAIMS BY MEDCAP. MedCap (and all related and
               affiliated persons and entities) irrevocably, unconditionally and
               fully releases and forever discharges IHHI, Dr. Shah, Mogel,
               OC-PIN, PCHI, WCH, Dr. Chaudhuri, Ganesha, Thomas and their
               respective past and present subsidiaries, affiliates, officers,
               directors, partners, agents, employees, members, managers,
               insurers, representatives, lawyers and law firms, and all persons
               acting by, through, under or in concert with them, or any of
               them, from any and all rights, suits, claims, actions, accounts,
               demands, contracts, debts, controversies, agreements, promises,
               liabilities, duties, obligations, costs, expenses, damages and
               causes of action, whether presently known or unknown, vested or
               contingent, suspected or unsuspected, accrued or yet to accrue,
               in law or in equity, which MedCap may now or hereafter have, own
               or claim to have arising out of, connected with or otherwise
               related to or concerning the Actions, any facts, circumstances or
               claims which were alleged or which could have been alleged in the
               pleadings in the Actions, or which could have been asserted in
               any action or proceeding in any legal, administrative or other
               forum whatsoever in any jurisdiction, including, but not limited
               to, any legal fees, court costs or expenses relating to the
               Actions; provided, however, nothing in this Settlement Agreement
               or in the Second Settlement Agreement shall constitute or include
               a release, waiver, compromise, limitation or diminishment of the
               right of MedCap (and of its related and affiliated entities) to
               enforce the provisions of the Term Note, the Credit Agreement or
               of any other notes, documents or instrument executed or delivered
               in connection therewith (collectively and together, the "$80

                                       21
<PAGE>

               Million Loan Documents") against any Party to this Settlement
               Agreement and/or against any Party to the Second Settlement
               Agreement which is or was a party to the $80 Million Loan
               Documents, and nothing in this Settlement Agreement or in the
               Second Settlement Agreement shall constitute or include a
               release, waiver, compromise, limitation or diminishment of the
               right of MedCap (and of its related and affiliated entities) to
               enforce the provisions of the $50,000,000 Credit Agreement dated
               October 9, 2007 and the $10,700,000 Credit Agreement dated
               October 9, 2007 and/or any notes, documents or instruments
               executed or delivered in connection therewith (collectively and
               together, the "Other Loan Documents") against any Party to this
               Settlement Agreement and/or against any party to the Second
               Settlement Agreement which is or was a party to the Other Loan
               Documents.

               THIS IS A GENERAL RELEASE.

         xi.   Without limiting the generality of the foregoing, Dr. Shah,
               OC-PIN and WCH generally release Dr. Chaudhuri, Ganesha, Thomas
               and PCHI's counsel Gaines, Weil, West & Epstein from any claims
               relating or pertaining to the management of PCHI, the defense of
               Dr. Shah's claims against PCHI or PCHI's claims against OC-PIN.

         xii.  Notwithstanding the foregoing, a WCH or OC-PIN Member who has not
               executed the Second Settlement Agreement shall not be entitled to
               a release herein or a release under the Second Settlement
               Agreement.

                                       22
<PAGE>

         24. Each Party agrees not to commence, maintain, initiate, prosecute,
cause, assist or cooperate with any other person to commence, maintain, initiate
or prosecute any action, suit, proceeding or any claim before any court or
administrative agency in any jurisdiction against a Party of the matters
released in this Settlement Agreement. If a Party violates this covenant then
(a) this Settlement Agreement shall be a complete defense to any such action,
suit, proceeding or claim, and (b) the suing Party may not attack the legal
validity or sufficiency of this Settlement Agreement.

         25. Each Party acknowledges that he, she or it has been advised by
counsel of his, her or its own choosing and is familiar with and understands the
provisions of California Civil Code section 1542, which section provides as
follows: 1.

                  "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE
                  CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR
                  AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR
                  HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH
                  THE DEBTOR."

         26. Each Party hereby voluntarily and expressly waives and relinquishes
each and every right or benefit which he, she or it may have under California
Civil Code section 1542 to the full extent that he, she or it may lawfully waive
such rights. Each Party acknowledges that he, she or it may hereafter discover
facts in addition to or different from those which he, she or it presently knows
or believes to be true regarding the subject matter of the dispute, but that the
intention here is to fully, finally and forever settle and release the matters,
disputes, differences, now known or unknown, suspected or unsuspected, arising
out of or in any way relating to the matters released pursuant to this
Settlement Agreement.

                                       23
<PAGE>

         27. The Parties hereto acknowledge that they expressly understand that
this Settlement Agreement and the Settlement it represents is (a) entered into
solely for the purpose of avoiding on-going and future expenses, burdens or
distractions of litigating the Actions, and (b) in no way constitutes an
admission by any Party hereto of any liability of any kind to any other Party or
of any wrongdoing. In this connection, the Parties specifically deny liability
in connection with any claims which have been made or could have been made, or
which are the subject matter of, or arise from, or are connected directly or
indirectly with or related in any way to any of the allegations raised in the
Actions.

         28. Notwithstanding the foregoing, PCHI reserves its claims against
IHHI for unpaid rent and other violations of the IHHI\PCHI lease.

         29. Dr. Shah represents that, to date, he and his wife have not
incurred any attorneys' fees on account of their guaranty of the Chapman leases.
However, should Dr. Shah or his wife incur any liability, including, but not
limited to, damages, losses or attorneys' fees, caused by IHHI's past failure to
pay rent on the Chapman leases, Dr. Shah hereby expressly reserves, and nothing
herein shall be deemed to release, impair or diminish, any and all rights Dr.
Shah and his wife may have against IHHI or any other party in connection with
any damages, losses or attorney's fees reasonably incurred by Dr. Shah or his
wife in satisfaction or defense of claims brought by the landlord(s) of the
Chapman leases or Tenet relating to Dr. Shah or his wife's guaranty of the
Chapman leases, or any affirmative claims related thereto, including without
limitation the recent action filed by Tenet Healthcare Corporation against Dr.
Shah and IHHI (OCSC Case No. 30-2009-00119836).

                                       24
<PAGE>

         COMPLIANCE WITH THE LAW.
         ------------------------

         30. All performance under this Settlement Agreement shall at all times
be subject to compliance by all Parties with applicable law and regulation then
in effect including, without limitation, federal and California law and
regulation relating to financial relationships between IHHI and its referring
physicians, such as the federal "Stark Law" contained in provisions of the
Social Security Act.

         MISCELLANEOUS.
         --------------

         31. The Parties each independently represent, warrant and agree that
each is now and shall remain through the Closing the sole and lawful owner of
all right, title and interest in and to every right, claim or other matter
released herein, and that such Party has not assigned or transferred or
purported to or attempted to assign or transfer or had involuntary assigned or
transferred to any person or entity any right, claim, or other matter released
herein, and that no third party is subrogated to any such rights or has any
claim upon the payments being made herein.

         32. The Parties named as parties to the Actions stipulate that this
Settlement Agreement may be entered as a judgment pursuant to California Code of
Civil Procedure section 664.6 and that the Orange County Superior Court shall
retain jurisdiction over the Parties to enforce the terms of this Settlement
Agreement until they have been performed in full. For the purposes of this
Settlement Agreement only, and without affecting any other agreements which may
exist between the Parties, California law shall govern this Settlement
Agreement.

                                       25
<PAGE>

         33. The Parties agree to execute all further and additional documents
and to take such other action necessary under the circumstances to accomplish
the purposes set forth in this Settlement Agreement. Each person or entity who
executes this Settlement Agreement acknowledges and represents that to the
extent that he, she or it is a signatory that he, she or it (a) has fully and
carefully read and understands the Settlement Agreement; (b) has had the
opportunity to be fully apprised by his, her or its attorneys of the legal
effect and meaning of this Settlement Agreement; (c) has had the opportunity to
make whatever investigation or inquiry he, she or it has deemed necessary or
appropriate in connection with the subject matter of this Settlement Agreement;
(d) has been afforded the opportunity to negotiate as to any and all terms of
this Settlement Agreement; and (e) is executing this Settlement Agreement
voluntarily, free from undue influence, coercion, duress, menace or fraud of any
kind.

         34. In executing this Settlement Agreement, the Parties hereto do not
rely on any inducements, promises or representations made by any other Party
other than as contemporaneously set forth in writing, including those set forth
in the Second Settlement Agreement, the Shareholder Agreement and the Stock
Purchase Agreements with respect to those Parties who are also parties to those
agreements, respectively. This Settlement Agreement contains the entire
agreement and understanding between the Parties with respect to the Actions and
the subject matters which gave rise to the Actions and supersedes and replaces
and all prior negotiations, proposed and actual agreements, whether written or

                                       26
<PAGE>

oral, except for the Second Settlement Agreement, the Shareholder Agreement and
the Stock Purchase Agreements, with respect to the Actions and subject matters
which gave rise to the Actions. Except as expressly set forth herein, nothing in
this Settlement Agreement is intended to modify, change or affect the rights or
obligations of any Party to any pre-existing written contracts or written
agreements between them.

         35. The failure of any of the Parties to insist upon strict adherence
to any term, condition or provision of this Settlement Agreement on any occasion
shall not be considered a waiver thereof or deprive that party of the right
thereafter to insist upon strict adherence of that term, condition, or provision
or any other term, condition or provision of this Settlement Agreement.

         36. The failure of any Party to fully perform its duties and
obligations under this Settlement Agreement and/or to pay any amounts when due
under this Settlement Agreement ("Defaulting Party") shall not affect, impact,
change, reduce, diminish or eliminate the settlements, covenants, releases and
waivers granted to any other Party to this Settlement Agreement ("Non-Defaulting
Party") so long as the Non-Defaulting Party has fully performed its obligations
under this Settlement Agreement.

         37. Each of the signatories for the Parties declares and represents
that he or she is competent and authorized to execute this Settlement Agreement
on behalf of the Party for whom he or she is signing.

                                       27
<PAGE>

         38. Each Party to this Settlement Agreement shall bear all of his, her
or its own attorneys' fees, costs and expenses as well as fees, costs and
expenses of any of his, her or its advisors with respect to the matters and
Actions released herein and in the negotiation and drafting of this Settlement
Agreement; provided, however, that this provision is not intended to and shall
not be construed to extinguish, release, waive, restrict, reduce, or modify
Mogel's rights to indemnification as set forth and recognized in Section 7(d) of
the Resignation Agreement.

         39. This Settlement Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of which shall
together constitute one and the same agreement.

         40. A photocopied and/or faxed signature page will suffice for the
purposes of executing this Settlement Agreement.

         41. Any notice required by this Settlement Agreement shall be made in
writing and sent via certified mail, return receipt requested, DHL, Fed-Ex,
Courier hand-delivered or similar means to give actual notice and proof thereof
("Dispatch") and by facsimile (if facsimile number is provided hereinafter) on
the same day of Dispatch and shall be effective upon Dispatch and facsimile, if
applicable. Notice shall be made as follows:

               Dr. Anil Shah
               2621 South Bristol, Suite 108
               Santa Ana, CA 92704
               Fax: (714) 966-0417

               With copy to:

                        Daniel J. Callahan, Esq.
                        CALLAHAN & BLAINE
                        3 Hutton Centre Drive, 9th Floor
                        Santa Ana, CA  92707
                        Fax: (714) 241-4445

                                       28
<PAGE>

               Orange County Physicians Investment Network, LLC
               2621 South Bristol, Suite 304
               Santa Ana, CA 92704
               Fax: (714) 297-9588

                        With copies to:

                        Daniel J. Callahan, Esq.
                        CALLAHAN & BLAINE
                        3 Hutton Centre Drive, 9th Floor
                        Santa Ana, CA  92707
                        Fax: (714) 241-4445

                        and

                        William R. Mitchell, Esq. 1168-003
                        LOGAN RETOSKE, LLP
                        31351 Ranch Viejo Road, Suite 202
                        San Juan Capistrano, CA 92675
                        Fax: (949) 489-1257

               Integrated Healthcare Holdings, Inc.
               1301 N. Tustin Ave.
               Santa Ana, CA  92705
               Fax:  (714) 953-3384

               With copies to:

                        David A. Robinson, Esq.
                        ENTERPRISE COUNSEL GROUP, ALC
                        Five Park Plaza, Suite 450
                        Irvine, CA 92614
                        Fax: (949) 833-8540

                        and

                        J. Scott Schoeffel, Esq.
                        Integrated Healthcare Holdings, Inc.
                        1301 N. Tustin Ave.
                        Santa Ana, CA 92705
                        Fax: (714) 953-3384

                        and

                                       29
<PAGE>

                        Allen Z. Sussman, Esq.
                        Reed Smith, LLP
                        355 South Grand Avenue, Suite 2900
                        Los Angeles, CA 90071-1514
                        Fax: (213) 457-8080

               Bruce Mogel
               c/o Michael G. Yoder, Esq.
               O'MELVENY & MYERS LLP
               610 Newport Center Drive, 17th Floor
               Newport Beach, CA 92660-6429
               Fax: (949) 823-6994

               William E. Thomas, Esq.
               Strategic Global Management, Inc.
               6800 Indiana Avenue, Suite 130
               Riverside, CA 92506
               Fax: (951) 782-8850

               Dr. Kali Chaudhuri
               Strategic Global Management, Inc.
               6800 Indiana Avenue, Suite 130
               Riverside, CA 92506
               Fax: (951) 782-8850

               With copy to:

                        Peter J. Mort, Esq.
                        Law Office of Peter J. Mort
                        41250 Gallop Lane
                        Murrieta, CA 92562
                        Fax: (951) 696-9343

               Medical Capital Corporation
               Medical Provider Financial Corporation I
               Medical Provider Financial Corporation II
               Medical Provider Financial Corporation III
               c/o Medical Capital Corporation
               15101 Red Hill Avenue
               Tustin, CA 92780
               Attn:  Joseph J. Lampariello, President
                      Thomas R. Fazio, Vice President and General Counsel
               Tel: 800-824-3700
               Fax: 714-258-7242

                                       30
<PAGE>

               With copy to:

                        Gary Sheppard, Esq.
                        Sedgwick Detert Moran & Arnold
                        One Market Plaza
                        Steuart Tower
                        8th Floor
                        San Francisco, California 94105
                        Fax: (415) 781-2635

               Pacific Coast Holdings Investment, LLC
               6800 Indiana Avenue, Suite 130
               Riverside, CA 92506
               Fax: (951) 782-8850

               and

               2621 South Bristol, Suite 304
               Santa Ana, CA 92704
               Fax: (714) 297-9588

               With copy to:
                                 William E. Thomas
                                 ------------------
                                 2023 Arroyo Dr.
                                 ----------------
                                 Riverside, CA 92506
                                 -------------------

               West Coast Holdings, LLC
               2621 South Bristol, Suite 304
               Santa Ana, CA 92704
               Fax: (714) 297-9588

               With copy to:
                                 ----------------------

                                 ----------------------

                                 ----------------------

               Ganesha Realty, LLC
               6800 Indiana Avenue, Suite 130
               Riverside, CA 92506
               Fax: (951) 782-8850

                                       31
<PAGE>

               With copy to:

               William E. Thomas, Esq.
               Strategic Global Management, Inc.
               6800 Indiana Avenue, Suite 130
               Riverside, CA 92506
               Fax: (951) 782-8850

The foregoing is agreed upon this 25th day of March, 2009 at Santa Ana,
California.

INTEGRATED HEALTHCARE HOLDINGS, INC.

By:   /s/ Kenneth K. Westbrook
    ----------------------------------------
Printed Name:   Kenneth K. Westbrook
              ------------------------------
Its:   President and CEO
     ---------------------------------------
By:   /s/ Steven R. Blake
    ----------------------------------------
Printed Name:   Steven R. Blake
              ------------------------------
Its:    CFO
      --------------------------------------

ORANGE COUNTY PHYSICIANS INVESTMENT NETWORK, LLC

By:   /s/ John L. Glavinovich, M.D
    ----------------------------------------
Printed Name:    John L. Glavinovich, M.D.
               -----------------------------
Its:   Co-Manager
     ---------------------------------------
By:   /s/ Anil V. Shah, M.D.
    ----------------------------------------
Printed Name:   Anil V. Shah, M.D.
              ------------------------------
Its:    Co-Manager
      --------------------------------------

ANIL V. SHAH, M.D.

  /s/ Anil V. Shah, M.D.
--------------------------------------------

                                       32
<PAGE>

PACIFIC COAST HOLDINGS INVESTMENT, LLC

By:   /s/ Kali P. Chaudhuri, M.D.
    ----------------------------------------
Printed Name:    Kali P. Chaudhuri, M.D.
               -----------------------------
Its:   Manager
     ---------------------------------------
By:   /s/ Jacob Sweidan
    ----------------------------------------
Printed Name:   Jacob Sweidan
              ------------------------------
Its:    Co-Manager
      --------------------------------------

MEDICAL PROVIDER FINANCIAL CORPORATION I
MEDICAL PROVIDER FINANCIAL CORPORATION II
MEDICAL PROVIDER FINANCIAL CORPORATION III
MEDICAL CAPITAL CORPORATION

By:   /s/ Joseph J. Lampariell
    ----------------------------------------
Printed Name:    Joseph J. Lampariello
               -----------------------------
Its:   President
     ---------------------------------------
By:   /s/ Joseph J. Lampariello
    ----------------------------------------
Printed Name:   Joseph J. Lampariello
              ------------------------------
Its:    President
      --------------------------------------

BRUCE MOGEL

  /s/ Bruce Mogel
--------------------------------------------
KALI P. CHAUDHURI, M.D.

 /s/ Kali P. Chaudhuri, M.D
--------------------------------------------

WEST COAST HOLDINGS, LLC

By:   /s/ Jacob Sweidan
    ----------------------------------------
Printed Name:   Jacob Sweidan
              ------------------------------
Its:    Manager
      --------------------------------------

                                       33
<PAGE>

GANESHA REALTY, LLC

By:   /s/ Kali P. Chaudhuri, M.D.
    ----------------------------------------
Printed Name:   Kali P. Chaudhuri, M.D.
              ------------------------------
Its:    Owner/Manager
      --------------------------------------

WILLIAM THOMAS

  /s/ William E. Thomas
--------------------------------------------

                                       34<PAGE>

EXHIBIT 10.2

                            STOCK PURCHASE AGREEMENT

         This Stock Purchase Agreement (this "AGREEMENT") is made and entered
into effective as of April 2, 2009 (the "EFFECTIVE DATE") by and between
Integrated Healthcare Holdings, Inc., a Nevada corporation (the "COMPANY"), and
Dr. Kali P. Chaudhuri (the "INVESTOR").

         WHEREAS, each of the parties hereto are also party to that certain
Settlement Agreement, General Release and Covenant Not to Sue of even date
herewith (the "SETTLEMENT AGREEMENT") by and among the Company, Dr. Anil V.
Shah, Orange County Physicians Investment Network, LLC ("OC-PIN"), Bruce Mogel,
Pacific Coast Holdings Investment, LLC, West Coast Holdings, LLC, Dr. Kali P.
Chaudhuri, Ganesha Realty, LLC, William E. Thomas, and Medical Capital
Corporation, on behalf of itself and three of its wholly owned subsidiaries,
Medical Provider Financial Corporation I, Medical Provider Financial Corporation
II and Medical Provider Financial Corporation III.

         WHEREAS, in connection with the execution of the Settlement Agreement,
the parties desire to enter into this Agreement as set forth herein.

         NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in
this Agreement, and for other good and valuable consideration the receipt and
adequacy of which are hereby acknowledged, the Company and Investor agree as
follows:

                                   ARTICLE I.
                                   DEFINITIONS

         1.1 DEFINITIONS. In addition to the terms defined elsewhere in this
Agreement, for all purposes of this Agreement, the following terms shall have
the meanings indicated in this Section 1.1:

                  "AFFILIATE" means any Person that, directly or indirectly
through one or more intermediaries, controls or is controlled by or is under
common control with a Person, as such terms are used in and construed under Rule
144.

                  "COMMISSION" means the Securities and Exchange Commission.

                  "COMMON STOCK" means the common stock of the Company, par
value $0.001 per share.

                  "EXCHANGE ACT" means the Securities Exchange Act of 1934, as
amended.

                  "LIEN" means any lien, charge, encumbrance, security interest,
right of first refusal or other restrictions of any kind.

                                       1
<PAGE>

                  "MATERIAL ADVERSE EFFECT" means any of (i) a material and
adverse effect on the legality, validity or enforceability of this Agreement,
(ii) a material and adverse effect on the results of operations, assets,
prospects, business or condition (financial or otherwise) of the Company, taken
as a whole, or (iii) an adverse impairment to the Company's ability to perform
on a timely basis its obligations under this Agreement.

                  "PERSON" means an individual or corporation, partnership,
trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or subdivision
thereof) or other entity of any kind.

                  "REQUIRED APPROVALS" has the meaning set forth in Section
3.1(d).

                  "RULE 144" means Rule 144 promulgated by the Commission
pursuant to the Securities Act, as such Rule may be amended from time to time,
or any similar rule or regulation hereafter adopted by the Commission having
substantially the same effect as such Rule.

                  "SEC REPORTS" means all reports required to be filed by the
Company under the Securities Act and the Exchange Act, including pursuant to
Sections 13(a) or 15(d) thereof, and the rules and regulations adopted by the
Commission thereunder.

                  "SECURITIES ACT" means the Securities Act of 1933, as amended.

                  "SHARES" means the shares of Common Stock purchased by the
Investor pursuant to this Agreement.

                                  ARTICLE II.
                            ISSUANCE OF COMMON STOCK

         2.1 PURCHASE AND SALE; CLOSING.

                  (a) Subject to and upon the terms and conditions set forth
herein, at the Closing the Company shall issue and deliver to the Investor, and
the Investor shall acquire and receive from the Company, an aggregate of
30,600,000 shares of Common Stock (the "SHARES") "), subject to possible
adjustment pursuant to Section 10 of the Settlement Agreement, for a purchase
price of Three Cents ($0.03) per share. At the Closing, the Investor shall pay
to the Company the aggregate purchase price for the Shares by bank check or wire
transfer of immediately available funds, the credit described in Section 10 of
the Settlement Agreement, or such other payment mechanism as the parties may
mutually agree prior to the Closing, or any combination thereof. The Closing
shall be held at the offices of Reed Smith LLP, 355 South Grand Ave., Suite
2900, Los Angeles CA 90071.

                  (b) The purchase and sale of the Shares hereunder (the
"CLOSING") shall be held on the day that is forty-five (45) days after the
Effective Date (or if such day is not a business day, then the next following
business day) (the "CLOSING DATE"); PROVIDED, HOWEVER, that if on the Closing
Date the Company does not have sufficient authorized and unreserved shares of
Common Stock to issue all of the Shares being purchased by the Investor as well

                                       2
<PAGE>

as the other shares required to be issued pursuant to the Settlement Agreement
(aggregating 60,000,000 shares in all), then the Closing Date shall be postponed
to the first business day on which the Company has a sufficient number of
authorized and unreserved shares to issue all of the Shares being purchased by
the Investor hereunder and the other shares required to be issued pursuant to
the Settlement Agreement. Failure of the Investor to deliver payment for the
Shares shall relieve the Company from its obligation to issue and deliver the
shares to the Investor, and the Company shall not be entitled to any other
damages or relief resulting from the failure of the Investor to purchase the
Shares. The failure of the Investor to purchase the Shares shall not constitute
a default under the Settlement Agreement or the Second Settlement Agreement.

                  (c) At the Closing, the Company shall deliver to the Investor
a stock certificate registered in the name of the Investor and evidencing the
Shares, or irrevocable instructions to the Company's transfer agent to promptly
deliver such a certificate to the Investor. The Shares shall be issued free and
clear of any Liens, except for (i) restrictions on transfer imposed under
Federal and state securities laws, (ii) any designations, rights, preferences
and powers set forth in the Company's Articles of Incorporation, and (iii) any
legends required to be imprinted on the certificates evidencing the Shares under
Section 4.2.

                                  ARTICLE III.
                         REPRESENTATIONS AND WARRANTIES

         3.1 REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company hereby
makes the following representations and warranties to Investor:

                  (a) ORGANIZATION AND QUALIFICATION. The Company is duly
organized, validly existing and in good standing under the laws of the State of
Nevada, with the requisite power and authority to own and use its properties and
assets and to carry on its business as currently conducted. The Company is not
in violation of any of the provisions of its Articles of Incorporation, bylaws
or other organizational or charter documents. The Company is duly qualified to
conduct its business and is in good standing as a foreign corporation or other
entity in each jurisdiction in which the nature of the business conducted or
property owned by it makes such qualification necessary, except where the
failure to be so qualified or in good standing, as the case may be, could not,
individually or in the aggregate, have or reasonably be expected to result in a
Material Adverse Effect.

                  (b) AUTHORIZATION; ENFORCEMENT. Subject to the proposed
increase in the Company's authorized shares of common stock as described in
Section 12 of the Settlement Agreement (the "AUTHORIZED CAPITAL INCREASE"), the
Company has the requisite corporate power and authority to enter into and to
consummate the transactions contemplated by this Agreement and otherwise to
carry out its obligations thereunder. Except for the Required Approvals, the
execution and delivery of this Agreement by the Company and the consummation by
it of the transactions contemplated thereby have been duly authorized by all
necessary action on the part of the Company and no further action is required by
the Company in connection therewith. This Agreement has been (or upon delivery
will have been) duly executed by the Company and, when delivered in accordance
with the terms hereof, will constitute the valid and binding obligation of the
Company enforceable against the Company in accordance with its terms, except as
such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or
affecting generally the enforcement of, creditors' rights and remedies or by
other equitable principles of general application.

                                       3
<PAGE>

                  (c) NO CONFLICTS. The execution, delivery and performance of
this Agreement by the Company and the consummation by the Company of the
transactions contemplated hereby do not and will not (i) conflict with or
violate any provision of the Company's Articles of Incorporation and bylaws, or
(ii) conflict with, or constitute a default (or an event that with notice or
lapse of time or both would become a default) under, or give to others any
rights of termination, amendment, acceleration or cancellation (with or without
notice, lapse of time or both) of, any agreement, credit facility, debt or other
instrument (evidencing a Company debt or otherwise) or other understanding to
which the Company is a party or by which any property or asset of the Company is
bound or affected, or (iii) subject to the filings contemplated by Section
3.1(d), result in a violation of any law, rule, regulation, order, judgment,
injunction, decree or other restriction of any court or governmental authority
to which the Company is subject (including Federal and state securities laws and
regulations), or by which any property or asset of the Company is bound or
affected; except in the case of each of clauses (ii) and (iii), such as could
not, individually or in the aggregate, have or reasonably be expected to result
in a Material Adverse Effect.

                  (d) FILINGS, CONSENTS AND APPROVALS. The Company is not
required to obtain any consent, waiver, authorization or order of, give any
notice to, or make any filing or registration with, any court or other Federal,
state, local or other governmental authority or other Person in connection with
the execution, delivery and performance by the Company of this Agreement, other
than (i) filings required by state securities laws, (ii) the filing of a Notice
of Sale of Securities on Form D with the Commission under Regulation D of the
Securities Act, and (iii) those that have been made or obtained prior to the
date of this Agreement (collectively, the "REQUIRED APPROVALS").

                  (e) ISSUANCE OF THE SHARES. Upon consummation of the
Authorized Capital Increase, the Shares will be duly authorized and, when issued
and paid for in accordance with this Agreement, duly and validly issued, fully
paid and nonassessable, free and clear of all Liens other than restrictions on
transfer provided for in this Agreement. The Company has reserved from its duly
authorized capital stock, subject to consummation of the Authorized Capital
Increase, the shares of Common Stock issuable pursuant to this Agreement.

                  (f) CAPITALIZATION. The number of shares and type of all
authorized, issued and outstanding capital stock of the Company, and all shares
of Common Stock reserved for issuance under the Company's various option and
incentive plans, is specified in the SEC Reports.

         3.2 REPRESENTATIONS AND WARRANTIES OF INVESTOR. Investor hereby
represents to the Company as follows:

                                       4
<PAGE>

                  (a) INVESTMENT INTENT. Investor is acquiring the Shares as
principal for its own account and not with a view to or for distributing or
reselling such Shares or any part thereof, without prejudice, however, to
Investor's right to sell or otherwise dispose of all or any part of such Shares
in compliance with applicable federal and state securities laws. Investor is
acquiring the Shares hereunder in the ordinary course of its business. Investor
does not have any agreement or understanding, directly or indirectly, with any
Person to distribute any of the Shares.

                  (b) INVESTOR STATUS. At the time Investor was offered the
Shares, it was, and at the date hereof it is, an "accredited investor" as
defined in Rule 501(a) under the Securities Act. Investor is not a registered
broker-dealer under Section 15 of the Exchange Act.

                  (c) GENERAL SOLICITATION. Investor is not purchasing the
Shares as a result of any advertisement, article, notice or other communication
regarding the Shares published in any newspaper, magazine or similar media or
broadcast over television or radio or presented at any seminar or any other
general solicitation or general advertisement.

                  (d) ACCESS TO INFORMATION. Investor acknowledges that it has
reviewed the SEC Reports and has been afforded (i) the opportunity to ask such
questions as it has deemed necessary of, and to receive answers from,
representatives of the Company concerning the terms and conditions of the
offering of the Shares and the merits and risks of investing in the Shares; (ii)
access to information about the Company and its financial condition, results of
operations, business, properties, management and prospects sufficient to enable
it to evaluate its investment; and (iii) the opportunity to obtain such
additional information that the Company possesses or can acquire without
unreasonable effort or expense that is necessary to make an informed investment
decision with respect to the investment. Neither such inquiries nor any other
investigation conducted by or on behalf of Investor or its representatives or
counsel shall modify, amend or affect Investor's right to rely on the truth,
accuracy and completeness of the SEC Reports and the Company's representations
and warranties contained in this Agreement.

                  (e) INDEPENDENT INVESTMENT DECISION. Investor has
independently evaluated the merits of its decision to purchase Shares pursuant
to this Agreement, and has not relied on the advice of any other Person or the
Company in making such decision.

                                  ARTICLE IV.
                         OTHER AGREEMENTS OF THE PARTIES

         4.1 The Shares may only be disposed of in compliance with state and
federal securities laws. In connection with any transfer of the Shares to the
Company or to an Affiliate of Investor, the Company may require the transferor
thereof to provide to the Company an opinion of counsel selected by the
transferor, the form and substance of which opinion shall be reasonably
satisfactory to the Company, to the effect that such transfer does not require
registration of such transferred Shares under the Securities Act.

         4.2 Certificates evidencing the Shares will contain the following
legends, until such time as the Shares are eligible for sale without restriction
under Rule 144 or state securities laws:

                                       5
<PAGE>

                  THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
                  REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
                  SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN
                  EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933,
                  AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT
                  BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
                  REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO
                  AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT
                  TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
                  ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED
                  BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH
                  EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE
                  TO THE COMPANY.

                  THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE
                  TERMS AND CONDITIONS OF A SHAREHOLDERS AGREEMENT DATED AS OF
                  APRIL 2, 2009 WHICH PLACES CERTAIN RESTRICTIONS ON THE VOTING
                  OF THE SHARES REPRESENTED HEREBY. ANY PERSON ACCEPTING ANY
                  INTEREST IN SUCH SHARES SHALL BE DEEMED TO AGREE TO AND SHALL
                  BECOME BOUND BY ALL THE PROVISIONS OF SUCH AGREEMENT. A COPY
                  OF SUCH SHAREHOLDERS AGREEMENT WILL BE FURNISHED TO THE RECORD
                  HOLDER OF THIS CERTIFICATE WITHOUT CHARGE UPON WRITTEN REQUEST
                  TO THE COMPANY AT ITS PRINCIPAL PLACE OF BUSINESS.

                                   ARTICLE V.
                                  MISCELLANEOUS

         5.1 GOVERNING LAW; VENUE. This Agreement shall be construed in
accordance with and governed by the laws of the State of Nevada without
reference to conflicts of law principles. Each of the parties hereto hereby
irrevocably and unconditionally consents to submit to the exclusive jurisdiction
of the courts of the State of California and of the United States of America, in
each case located in the County of Orange, for any lawsuit, action or proceeding
arising out of or relating to this Agreement and the transactions contemplated
hereby (and agrees not to commence any lawsuit, action or proceeding relating
thereto except in such courts), Each of the parties hereto hereby irrevocably
and unconditionally waives any objection to the laying of venue of any lawsuit,
action or proceeding arising out of this Agreement or the transactions
contemplated hereby in the courts of the State of California or the United
States of America, in each case located in the County of Orange, and hereby
further irrevocably and unconditionally waives and agrees not to plead or claim
in any such court that any such lawsuit, action or proceeding brought in any
such court has been brought in an inconvenient forum.

                                       6
<PAGE>

         5.2 WAIVER. The failure of either party at any time or times to require
performance of any provision hereof shall in no manner affect its rights at a
later time to enforce the same. No waiver by either party of any condition or
term in any one or more instances shall be construed as a further or continuing
waiver of such condition or term or of another condition or term.

         5.3 ENTIRE AGREEMENT. This Agreement and the Settlement Agreement
constitute the entire agreement between the parties relating to the subject
matter hereof and supersede all previous writings and understandings. No
modifications or waiver of any terms or conditions hereof shall be effective
unless made in writing and signed by a party (if an individual) or a duly
authorized officer of the party against which enforcement is sought.

         5.4 SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and
inure to the benefit of the parties and their successors and permitted assigns.

         5.5 NO THIRD-PARTY BENEFICIARIES. Nothing in this Agreement, express or
implied, is intended to confer on any person other than the parties hereto, or
their respective permitted successors and assigns, any benefits, rights or
remedies.

         5.6 HEADINGS. The headings contained in this Agreement have been added
for convenience and shall not be construed as limiting.

         5.7 COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument. Execution of a facsimile
copy shall have the same force and effect as execution of an original, and a
facsimile signature shall be deemed an original and valid signature.

                   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                             SIGNATURE PAGES FOLLOW]

                                       7
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Stock Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.

                                    COMPANY:

                                    INTEGRATED HEALTHCARE HOLDINGS, INC.

                                    By: /s/ KENNETH K. WESTBROOK
                                        ----------------------------------------
                                    Print Name:  Kenneth K. Westbrook
                                    Title:  President & CEO

                                    INVESTOR:

                                    /s/ KALI P. CHAUDHURI, M.D.
                                    --------------------------------------------
                                    DR. KALI P. CHAUDHURI

                                       8

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