Document:

Employment Agreement dated November 5, 2012 with Jerrell W. Shelton

 Exhibit 10.45 
 CryoPort, Inc. (the “Company”) Employment Agreement with Jerrell W. Shelton (the “Agreement”) 
 1. AGREEMENT AND DUTIES. This agreement, dated November 5, 2012, is between the Company, located at 20382 Barents Sea Circle, Lake Forest, California 92630 and Jerrell W.
Shelton (“Executive”) who resides at 980 Overton Lea Road Nashville, TN 37220 (the “Agreement”). The Company agrees to employ Executive as Chief Executive Officer and President, with duties and responsibilities, which the
Company acting through its Board of Directors believes are appropriate to Executive’s skills, training and experience. Executive agrees to perform such assigned duties by devoting due care, loyalty and best efforts thereto and complying with
all applicable laws and the requirements of the Company’s policies and procedures on employee conduct. 

2. INITIAL PERIOD AND THEREAFTER. The Agreement governs compensation for and other related matters with respect
to Executive’s employment during the period from the date of the Agreement through May 4, 2013; an agreement subsequent to May 4, 2013 would be negotiated at the conclusion of the Agreement. 

3. COMPENSATION. Executive shall be paid an annual base salary of $300,000. In addition, on the date of the
Agreement, Executive shall be awarded a number of options equal to the result of dividing $350,000 by the closing price of the Company’s stock on November 5, 2012, less the 100,000 options which were awarded to him on October 22, 2012
as a new member of the Board of Directors. The options shall vest in equal portions, monthly until May 4, 2013. The options shall expire at the earlier of (a) ten years from the date of the Agreement, and (b) five years from the date
of the resignation and/or removal of the Executive as Chief Executive Officer of the Company (“Expiration Date”). The options shall be memorialized in standard agreements used by the Company for such awards. 650,000 options shall be
awarded under the Company’s 2011 Stock Incentive Plan (the “Plan”) and classified as Incentive Stock Options to the maximum extent permissible; options awarded in excess of 650,000 (other than the 100,000 grated to Executive as a
Director) shall be awarded outside the Plan. 
 4. TERMINATION. While the Agreement is in effect,
Executive’s employment with the Company may be terminated as follows, and Executive’s sole right to receive compensation, benefits, or bonuses after any such termination shall be exclusively as set forth below. At the time of any such
termination, upon request of the Company, such Executive agrees to resign in writing from all positions and board memberships of the Company. 
  

	 	(a)	DEATH. If Executive dies, the Agreement shall terminate. All Company benefit plans in effect upon Executive’s death shall operate in
accordance with their terms with respect to the death of a participant. 

  

	 	(b)	DISABILITY. If Executive becomes disabled (as defined in the Company’s disability insurance policies), the Company may terminate
Executive’s employment but Executive shall receive all benefits to be payable to Executive under the Company’s Short and Long Term Disability Policies (the “Policies”) in effect at that time. 

  
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	 	(c)	BY EMPLOYEE. Executive may terminate his employment and the Agreement at any time for any reason, including resignation or retirement. All
compensation or benefits in effect at that time shall cease as of the date of termination, unless earned in full prior to such date in accordance with the Agreement or the applicable provisions of a benefit plan. 

 

	 	(d)	FOR CAUSE. The Company may terminate Executive for theft, dishonesty, fraudulent misconduct, violations of Section 7 or 8 of the Agreement,
gross dereliction of duty, grave misconduct injurious to the Company or serious violation of the law or the Company’s written policies and procedures on employee conduct. In the event the Company terminates Executive for cause hereunder, the
Executive shall not be due any compensation or benefits after the date of such termination unless earned in full prior to such date in accordance with the Agreement or the applicable provisions of a benefit plan. The Company, if allowed by law, may
set off losses, fines or damages the Executive has caused it as a result of such misconduct. 

  

	 	(e)	WITHOUT CAUSE. The Company, with the approval of its Board of Directors, may terminate Executive for any reason other than as set out in Sections
4(a) to 4(d) (“Without Cause”). In such an event, the Agreement shall terminate and the Company shall be obligated to pay an amount equal to the amount of salary Executive would have earned from the date of such termination through
May 4, 2012. 

 5. OFFICE AND TRAVEL EXPENSES OF EXECUTIVE. The Company shall pay
the Executive $200 per month in order to reimburse Executive for the expense of maintaining an office in the state of his residence. In addition, the Company shall pay for all travel and business expenses of Executive, including travel to and from
Executive’s residence in Tennessee to the Company’s location in Lake Forest, California (the “Location”). 

. 6. BENEFITS. While the Agreement is in effect, Executive and/or Executive’s immediate family, as the case may
be, shall be eligible for participation in and shall receive all benefits under pension, welfare and other benefit plans, practices, policies and programs provided by the Company (including, without limitation, any medical, prescription, dental,
disability, salary continuance, employee life, group life, accidental death and travel, accident insurance plans and programs) to the extent these are generally available to other employees and/or executives of the Company. In addition, while the
Agreement is in effect, Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by Executive in accordance with the policies, practices and procedures of the Company and Executive shall be entitled to paid
vacation in accordance with the plans, policies, programs and practices of the Company. Executive will be covered by the Company’s D&O Insurance Policy immediately and the Company will enter into an indemnification agreement with you
containing standard terms and conditions but protecting Executive to the full extent of the law. 

  
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 7. NONCOMPETITION. (a) Executive agrees that for a period of
eighteen months following the termination of the Agreement, he shall not, except as permitted with the Company’s prior written consent, engage in, be employed by, or in any way advise or act for any business which is a competitor of the Company
with respect to the products or services provided by the Company to which Executive devoted substantial attention during his employment with the Company. This restriction shall also apply to any ownership or other financial interest in such a
competitor except the ownership of less than five percent of the shares of any corporation whose shares are listed on a recognized stock exchange or trade in an over-the-counter market in the United States 

(b) Executive acknowledges and agrees that the terms of Sections 7, 8 and 9 (i) are reasonable in geographic and temporal scope
and (ii) are necessary to protect legitimate proprietary and business interests of the Company in, inter alia, customer relationships and confidential information. Executive further acknowledges and agrees that (x) Executive’s breach
of the provisions of Section 7 will cause the Company irreparable harm, which cannot be adequately compensated by money damages, and (y) if the Company elects to prevent Executive from breaching such provisions by obtaining an injunction
against Executive, there is a reasonable probability of the Company’s eventual success on the merits. Executive consents and agrees that if Executive commits any such breach or threatens to commit any breach, the Company shall be entitled to
temporary and permanent injunctive relief from a court of competent jurisdiction, in addition to, and not in lieu of, such other remedies as may be available to the Company for such breach, including the recovery of money damages. If any of the
provisions of Sections 7, 8 or 9 is determined to be wholly or partially unenforceable, Executive hereby agrees that the Agreement or any provision hereof may be reformed so that it is enforceable to the maximum extent permitted by law. If any
of the provisions of Sections 7, 8 or 9 are determined to be wholly or partially unenforceable in any jurisdiction, such determination shall not be a bar to or in any way diminish the Company’s right to enforce any such covenant in any
other jurisdiction. 
 8. CONFIDENTIAL INFORMATION AND OWNERSHIP OF INVENTIONS. (a) As used
herein, the term Confidential Information means (i) proprietary information of the Company, such as any information that constitutes, represents, evidences or records confidential, scientific, technical, merchandising, production, marketing,
pricing, customer preferences, intellectual property strategies, product development strategies, sales or management information (including, without limitation, customer lists, plans and supplier lists) or a confidential design, process, procedure,
formulae, invention or improvement (including, without limitation, software), (ii) information designated by the Company as confidential or that Executive knows or should know is confidential, and (iii) Trades Secrets. “Trade
Secrets” means information of the Company, including a formula, pattern, compilation, program, device, method, technique or process, that derives independent economic value, actual or potential, from not being generally known to, and not being
readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and that is the subject of efforts by the Company to maintain its secrecy that are reasonable under the circumstances. Executive
acknowledges that all Confidential Information is a valuable asset of the Company and will continue to be the exclusive property of the Company whether or not disclosed to Executive or entrusted to his custody in connection with his employment by
the Company. 

  
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 (b) Unless authorized or instructed in writing by the Company or required by legally
constituted authority, Executive has not and will not, except for the benefit of the Company during the term of the Agreement or following termination of the Agreement, disclose to others or use any Confidential Information unless and until, and
then only to the extent that such items become available to the public, other than by Executive’s or failure to act. In addition, Executive agrees to use his best efforts to prevent accidental or negligent loss or release to any unauthorized
person of the Confidential Information. Executive will deliver immediately to the Company upon its request all Confidential Information in the possession of Executive. Executive will not intentionally retain excerpts, notes, photographs,
reproductions or copies of any Confidential Information whether or not written or produced by Executive. 
 (c) Executive agrees
that (i) he has and will disclose immediately to the Company all inventions, discoveries, improvements, trade secrets, formulae, techniques, processes, know-how and computer programs whether or not patentable and whether or not reduced to
practice, conceived by Executive during the term of the Agreement by the Company, either alone or jointly with others that relate to or result from the actual or anticipated business, work, research or investigations of the Company, or that result
to any extent from the use of Company’s premises, or tangible or intangible property (collectively referred to as “Inventions”), and (ii) that all such Inventions will be owned exclusively by the Company. Executive hereby assigns
to the Company all Executive’s rights, title and interest in and to all such Inventions and Executive agrees that the Company will be the sole owner of all domestic and foreign patent or other rights pertaining thereto. Executive also agrees
during the term of the Agreement and thereafter, to execute all documents that the Company reasonably determines to be necessary or convenient for use in applying for, perfecting or enforcing patents or other intellectual property rights in the
Inventions. 
 9. NONSOLICITATION. Executive agrees that during the term of the Agreement and for a period
of one year thereafter Executive will not, directly or indirectly, on behalf of himself, or on behalf of any other person, firm or corporation, solicit, induce, entice or attempt to solicit, induce, entice or divert away any person who is an
employee of the Company to leave employment with the Company. 
 10. MISCELLANEOUS. (a) The
Agreement is personal to Executive and without the prior written consent of the Company shall not be assignable by Executive otherwise than by will or the laws of descent and distribution. The Agreement shall inure to the benefit of and be
enforceable by Executive’s legal representatives. 
 (b) The Agreement shall inure to the benefit of and be binding
upon the Company and its successors and assigns. Executive hereby grants the Company unlimited authority to assign its rights under the Agreement and consents to any and all such assignments. 

(c) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially of the business and/or assets of the Company to assume expressly and agree to perform the Agreement in the same manner and to 

  
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the same extent that the Company would be required to perform it if no such succession had taken place. As used in the Agreement, “Company” shall mean the Company as hereinbefore
defined and any successor its business and/or assets as aforesaid which assumes and agrees to perform the Agreement by operation of law, or otherwise. 
 (d) The Agreement shall be governed by and construed in accordance with the laws of the State of California, without reference to principles of conflict of laws. Any dispute arising under or in
connection with the Agreement or related to any matter which is the subject of the agreement shall be subject to the exclusive jurisdiction of the state and/or federal courts located in California. The captions of the Agreement are not part of the
provisions hereof and shall have no force or effect. 
 (e) All notices and other communications hereunder shall be in
writing and shall be given by hand delivery to the other party, or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

			
	If to Executive:	  	Jerrell W. Shelton
		
	If to the Company:	  	CryoPort, Inc.
		  	20382 Barents Sea Circle
		  	Lake Forest, CA 92630
		  	Attn: Chief Financial Officer

 Or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and
communications shall be effective when actually received by the addressee. 
 (f) The invalidity or unenforceability of any
provision of the Agreement shall not affect the validity or enforceability of any other provision of the Agreement. 

(g) The Company may withhold from any amounts payable under the Agreement such federal, state or local taxes as shall be required to
be withheld pursuant to any applicable law or regulation. 
 (h) All amendments to the Agreement shall be in writing and
executed by Executive and the Company. 

  
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 IN WITNESS WHEREOF, Executive has hereunto set Executive’s hand and, pursuant to the
authorization from its Board of Directors, CryoPort, Inc. has caused these presents to be executed in its name on its behalf, all as of the 5th of November, 2012. 
  

			
	By	 	 : /s/ Jerrell W. Shelton

	Jerrell W. Shelton

 CryoPort, Inc. 
  

			
	By:	 	 /s/ Robert Stefanovich

	Name:	 	Robert Stefanovich
	Title:	 	Chief Financial Officer

  
 6Limited Waiver and Second Amendment to Credit Agreement, dated November 1, 2012

 Exhibit 10.1 
 LIMITED WAIVER AND SECOND AMENDMENT TO CREDIT AGREEMENT 
 This Limited
Waiver and Second Amendment to Credit Agreement (this “Agreement”) is entered into as of November 1, 2012, by and among LIFECARE HOLDINGS, INC., a Delaware corporation (“Borrower”), LCI HOLDCO, LLC, a Delaware
limited liability company (“Holdco”), the Required Lenders signatory hereto (each a “Participating Lender”) and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent for the Lenders (in such
capacity, the “Administrative Agent”). 
 RECITALS 

WHEREAS, Borrower, Holdco, the Lenders from time to time party thereto, the Administrative Agent and the Collateral Agent are parties to
that certain Credit Agreement dated as of February 1, 2011 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”); 
 WHEREAS, Borrower has requested that the Administrative Agent and the Required Lenders waive certain provisions of the Credit Agreement; 

WHEREAS, on September 14, 2012, Borrower, Administrative Agent and the Required Lenders entered into that certain Limited Waiver and
First Amendment to Credit Agreement and Termination of Revolving Commitments dated as of September 14, 2012 (the “First Amendment”); 
 WHEREAS, Borrower has requested that the Administrative Agent and the Required Lenders extend the Waiver Period provided for in the First Amendment and waive and amend certain provisions of the Credit
Agreement as set forth herein; and 
 WHEREAS, the Administrative Agent and the Required Lenders are willing to extend the
Waiver Period provided for in the First Amendment and waive and amend certain provisions of the Credit Agreement and continue to forbear from exercising certain rights and remedies under the Credit Agreement and the other Loan Documents. 

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

 Section 1. Defined Terms. Unless otherwise expressly defined herein, all capitalized terms used but not defined herein
shall have the meaning ascribed to such terms in the Credit Agreement, including the First Amendment. 
 Section 2.
Waivers. Subject to the satisfaction (or waiver) of the conditions precedent set forth in Section 7 hereof, effective as of the Second Waiver Effective Date (as defined below) and until the expiration of the Waiver Period (as defined below),
Administrative Agent and the Required Lenders hereby waive (a) any Default or Event of Default arising under clause (f) or clause (g) of Article VII of the Credit Agreement from the failure of Borrower to make the interest payment due on August 15,
2012 and the failure of Borrower to remedy such failure within the applicable 30-day payment grace period ending on September 14, 2012 under the Senior Subordinated Notes and the Senior Subordinated Notes Documents and (b) any Default or Event of
Default that may exist under clause (e) of Article VII of the Credit Agreement as of the date hereof ((a) and (b) together, the “Existing Defaults”). 

 Section 3. Waiver Period. As used herein, the term “Waiver Period”
shall mean the period beginning on the Waiver Effective Date (as defined in the First Amendment), continuing on the Second Waiver Effective Date and ending upon the occurrence of a Waiver Termination Event (as defined below). As used herein,
“Waiver Termination Event” shall mean the earlier to occur of (i) the Outside Date and (ii) the occurrence of any Waiver Default. As used herein, the term “Outside Date” shall mean December 15, 2012. As used herein,
the term “Waiver Default” shall mean (a) any of the following if, after written notice by the Administrative Agent or the Required Lenders, such occurrence remains uncured for five (5) Business Days: (i) the failure of
Borrower to timely comply with any term, condition, or covenant set forth in this Agreement unless otherwise specified in clause (b) hereof, (ii) the failure of any representations and warranties made by Borrower in this Agreement to be true
and correct in any material respect; (iii) the failure of Borrower to work in good faith to comply with reasonable information requests and other reasonable due diligence requests, subject to confidentiality requirements required by law,
including, without limitation, HIPAA; or (iv) the failure of Borrower to pay the reasonable invoiced fees and expenses of the Administrative Agent and the professional advisors of the steering committee of the Lenders (the “Steering
Committee”) in accordance with terms of the applicable engagement letters or, in the case of the Administrative Agent, the Credit Agreement; and (b) immediately upon the occurrence of any of the following: (i) any Default under
Article VII(h) or Event of Default under the Credit Agreement (other than those waived under Section 2 hereof); (ii) the failure of the Borrower to comply with Section 5.21 of the Credit Agreement; (iii) the written acceptance by one or
more of the Loan Parties of the terms of a term sheet, or the entry into a commitment letter or definitive documentation for (x) debtor-in-possession financing or other debt financing, (y) a merger, asset sale or stock purchase agreement,
or (z) a restructuring term sheet or restructuring support agreement, in each case, without the prior written consent of the Required Lenders; (iv) Borrower or any of its Subsidiaries declares or makes, directly or indirectly, any payment
in respect of the Senior Subordinated Notes or, without the prior written consent of the Required Lenders (such consent not to be unreasonably withheld), the Vibra Note; (v) without the prior written consent of the Required Lenders, (x) an
event of default under or (y) amendment, modification or termination of any forbearance or waiver agreement entered into by the Borrower and the holders of a majority in principal amount of the outstanding Senior Subordinated Notes or
(vi) any material amendment by Borrower of any existing key employee retention plan (“KERP”) or management incentive plan (“MIP”) or adoption of any new KERP or MIP or other similar plan, in each case, without
the prior written consent of the Required Lenders. Upon the expiration or termination of the Waiver Period, the Existing Defaults shall be and shall be deemed fully reinstated and the Administrative Agent and the Required Lenders shall have the
right to, and may, exercise at any time and from time to time any and all rights and remedies under the Loan Documents and applicable law in connection with the Existing Defaults. Nothing herein shall be or shall be deemed a final or permanent
waiver of the Existing Defaults or shall be construed as limiting the Administrative Agent or Required Lenders’ rights or remedies or ability to exercise such rights or remedies with respect to the Existing Defaults. 

  
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 Section 4. Amendments to Credit Agreement. Subject to the satisfaction (or waiver) of
the conditions precedent set forth in Section 7 hereof, the Credit Agreement is hereby amended as follows: 
 (a) Section 1.01
of the Credit Agreement is hereby amended by replacing the defined term “Limited Waiver” with “First Limited Waiver” and moving such definition to the appropriate alphabetic location and adding the following definition in the
appropriate alphabetic location: 
 ““Second Limited Waiver” means that certain Limited Waiver and Second
Amendment to Credit Agreement dated as of November 1, 2012, by and among the Borrower, LCI Holdco, LLC, the Lenders party thereto, the Administrative Agent and the Collateral Agent.” 

(b) Section 5.01 of the Credit Agreement is hereby amended by restating clause (k) in its entirety as set forth below: 

(k) [intentionally omitted]; and 
 (c) Article V of the Credit Agreement is hereby amended by restating Section 5.20 in its entirety as set forth below: 
 “5.20 Milestone. The Borrower shall comply with the Milestone on or before December 15, 2012.” 
 (d) Article VI of the Credit Agreement is hereby amended by restating Sections 6.08 and 6.21 in their entirety as set forth below: 
 “6.08. Restricted Payments; Certain Payments of Indebtedness. (a) The Borrower will not, and will not permit any Subsidiary to, make, directly or indirectly, any Restricted Payment, any
payment or reimbursement of fees to the Sponsor under any management agreement or similar agreement or pay or make Material loans or advances to employees (with respect to this provision, “Material” shall mean single advances of more than
$5,000, with an aggregated advance limit of $40,000 at any one time outstanding). For the avoidance of doubt, the Borrower shall be permitted to (i) pay sign on bonuses to newly hired employees and (ii) implement its “paid time off”
program to compensate employees in exchange for vacation time, in each case consistent with past practice.” 
 “6.21.
Material Contracts and Settlements. Notwithstanding anything herein to the contrary, Borrower will not, and will not permit any Subsidiary to, (a) enter into any Material (as defined below) contractual obligations (including any
amendment to an existing contract or lease), Material transactions, or Material settlements, outside of those contractual obligations, transactions or settlements which may occur in the ordinary course of business or (b) accelerate the payment
of or prepay any Material contractual obligations, Material transactions or Material settlements in a manner inconsistent with historical business practices in an aggregate amount in excess of $1,000,000, in each case, (a) or (b), without the prior
written consent of the Required Lenders, such consent not to be unreasonably withheld. With respect to this Section 6.21, “Material” shall mean any type of transaction, agreement, lease, user agreement, settlement or other type of contract
where consideration has been or will be paid or received by Borrower or any of its affiliates in excess of $1,000,000 in any twelve month period, including amendments to existing contracts, leases or agreements.” 

  
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 Section 5. Additional Interest Rate. Notwithstanding anything in the Credit Agreement
to the contrary, during the Waiver Period, (i) the Loans shall bear interest at a rate per annum equal to 2% (the “Additional Interest Rate”) plus the rate otherwise applicable to such Loan as provided in Section 2.13(a) or (b)
of the Credit Agreement; provided that half of the interest payable at the Additional Interest Rate (the “Additional Interest”) shall be payable as PIK Interest and half of the interest payable at the Additional Interest Rate
shall be payable in cash and (ii) Additional Interest shall be payable in arrears on the last Business Day of each month which shall constitute an Interest Payment Date solely for the payment of the Additional Interest. 

Section 6. Steering Committee Information Rights. The Borrower shall cause its counsel and financial advisors to provide:

  

	 	(i)	bi-weekly progress reports to Akin Gump Strauss Hauer & Feld LLP, Simpson Thacher & Bartlett LLP and Alvarez & Marsal Securities, LLC (via teleconference),
beginning on November 8, 2012 at 2:30 p.m. (prevailing Eastern Time) and continuing every second Tuesday thereafter (or such other agreed upon day and time), regarding the M&A Process and the Restructuring Process, in each case, containing such
details and information reasonably requested by the Required Lenders; and 

  

	 	(ii)	to Alvarez & Marsal Securities, LLC (a) beginning on the Second Waiver Effective Date and daily thereafter, the Borrower’s “Daily Flash Report”
and (b) on or before the 26th day of each month, beginning on October 26, 2012, a hospital level reporting package for the immediately preceding month in a form consistent with past practice. 

Section 7. Conditions to Effectiveness. This Agreement shall become effective as of the first date (the “Second
Waiver Effective Date”) on which each of the following conditions is satisfied and evidence of its satisfaction has been delivered to counsel to the Administrative Agent and counsel to the Steering Committee: 

(a) The Administrative Agent shall have received executed counterparts of this Agreement from Borrower, Holdco, the Required Lenders and
the Administrative Agent; 
 (b) Each of the representations and warranties made by any Loan Party set forth in Section 8
hereof shall be true and correct in all material respects; 
 (c) The expenses payable on or prior to November 1, 2012 pursuant
to Section 9.03 of the Credit Agreement or referred to in the section below entitled “Costs and Expenses”, including, but not limited to, reimbursement or payment of all reasonable fees and out-of-pocket expenses of Simpson Thacher &
Bartlett LLP, Akin Gump Strauss Hauer & Feld LLP and Alvarez & Marsal Securities, LLC, to the extent invoiced at least two (2) Business Days prior to the date hereof, which have been incurred before the date hereof and are required to be
reimbursed or paid by the Loan Parties hereunder, under any engagement letter or under any other Loan Document shall have been paid to the Administrative Agent and each Participating Lender or, in each case, to its designee; and 

  
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 (d) The Borrower shall have entered into a waiver or forbearance agreement with holders of
a majority in principal amount of the outstanding Senior Subordinated Notes on terms and conditions acceptable to the Required Lenders. 
 Section 8. Representations and Warranties. Each Loan Party hereby represents and warrants to the Administrative Agent and the Lenders that, as of the date of and after giving effect to this
Agreement, (a) the execution, delivery and performance of this Agreement has been authorized by all requisite corporate and limited liability company action on the part of such Loan Party and will not violate such Loan Party’s
organizational documents and (b) no Default or Event of Default shall have occurred and is continuing (other than the Existing Defaults). 
 Section 9. No Other Waiver or Amendment. Except as expressly modified by the First Amendment and hereby, all terms, conditions, covenants, representations and warranties contained in the Credit
Agreement and each other Loan Document, and all rights of the Administrative Agent and Lenders, and all of the Obligations, shall remain in full force and effect. Each of the Borrower and Holdco hereby confirms that it does not have any right of
setoff, recoupment or other offset or any defense, claim or counterclaim with respect to any of the Obligations, the Credit Agreement or any other Loan Document. 
 Section 10. Reservation of Rights. Except as expressly set forth herein, the effectiveness of this Agreement shall not directly or indirectly (i) create any obligation to make any further Loans or
to continue to waive any Default or Event of Default (including, without limitation, any of the Existing Defaults), (ii) constitute a consent, amendment or waiver of any past, present or future violations of any provisions of the Credit Agreement or
any other Loan Document, or to prejudice, any right, power, privilege or remedy of the Lenders or the Administrative Agent under the Credit Agreement, any other Loan Document or applicable law, nor shall the entering into this Agreement preclude the
Lenders or the Administrative Agent from refusing to enter into any further amendments or waivers with respect to the Credit Agreement or any other Loan Document, (iii) amend, modify or operate as a waiver of any provision of the Credit Agreement or
any other Loan Document or any right, power or remedy of the Administrative Agent or any Lender, (iv) constitute a consent to any merger or other transaction or to any sale, restructuring or refinancing transaction or (v) constitute a course of
dealing or other basis for altering any Obligations or any other contract or instrument. Except as expressly set forth herein, the Administrative Agent and the Lenders reserve all of their rights, powers, and remedies under the Credit Agreement, the
other Loan Documents and applicable law. Except as expressly set forth herein, all of the provisions of the Credit Agreement and the other Loan Documents are hereby reiterated. This Agreement shall not be deemed or construed to be a satisfaction,
reinstatement, novation or release of the Credit Agreement or any other Loan Document. 
 Section 11. Loan Documents.
From and after the Second Waiver Effective Date, the term (i) ”Agreement” in the Credit Agreement, and all references to the Credit Agreement in any Loan Document shall mean the Credit Agreement as modified or supplemented by this
Agreement, and (ii) ”Loan Documents” in the Credit Agreement and the other Loan Documents shall include, without limitation, this Agreement and any agreement, instrument or other document executed and/or delivered in connection
herewith. 
 Section 12. Costs and Expenses. Borrower shall promptly pay all reasonable invoiced fees, costs and expenses
of Simpson Thacher & Bartlett LLP and Akin Gump Strauss Hauer & Feld LLP, as counsel to (x) the Administrative Agent and (y) the Steering Committee, incurred in connection with the preparation, execution and delivery of this Agreement.

  
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 Section 13. Additional Representations; Exculpations and Reaffirmation of Liens.

 (a) Each Loan Party confirms and reaffirms all of its Obligations under each Loan Document, to the Administrative Agent and
each Lender, as applicable, including without limitation all of its Obligations under any guaranty provided pursuant to the Loan Documents. Each Loan Party represents and warrants that there are no defenses to its Obligations under the Loan
Documents and that it has no claim against any Lender or the Administrative Agent arising out of or in connection with any Loan Document. Without limiting the foregoing representation and warranty, each Loan Party exculpates each Lender and the
Administrative Agent from any claim such Loan Party may have against each Lender in its capacity as a Lender under the Credit Agreement or the Administrative Agent (but without any effect on any other relationship that any Lender may have with the
Loan Parties) arising out of or relating to the negotiation and execution of this Agreement, or any enforcement of rights with respect thereto, occurring prior to the date hereof. Each Loan Party certifies to each Lender that no Default or Event of
Default exists (other than any of the Existing Defaults). 
 (b) Each Loan Party hereby (i) acknowledges its obligations under
the Loan Documents, (ii) reaffirms that each of the Liens created and granted pursuant to the Loan Documents is valid, subsisting, perfected and of the priority required pursuant to the Loan Documents and (iii) acknowledges that this Agreement shall
in no manner impair or otherwise adversely affect such Liens. 
 Section 14. General Release; Reaffirmation of Indemnity.

 (a) In consideration of, among other things, the Administrative Agent’s and the Required Lenders’ execution and
delivery of this Agreement, each of Holdco, the Borrower and any other Loan Party, on behalf of itself and on behalf of its Subsidiaries, successors, assigns, legal representatives and financial advisors (the “Lifecare Parties”),
hereby jointly and severally releases (collectively, the “Releases”), acquits and forever discharges the Administrative Agent and each Lender (collectively, the “Lender Parties”) and their respective subsidiaries,
parents, affiliates, officers, directors, employees, agents, attorneys, financial advisors, successors and assigns, both present and former (collectively, the “Lenders’ Affiliates” and together with the Lender Parties, the
“Releasees”) from any and all manner of actions, causes of action, suits, debts, controversies, damages, judgments, executions, claims and demands whatsoever, asserted or unasserted, in contract, tort, law or equity which Holdco,
the Borrower or any other Lifecare Party has or may have against any of the Lender Parties and/or the Lenders’ Affiliates by reason of any action, failure to act, matter or thing whatsoever arising from or based on facts occurring prior to the
date of this Agreement in respect of the Loan Documents, including but not limited to, any claim or defense that relates to, in whole or in part, directly or indirectly, (i) the making or administration of the Loans, including, without limitation,
any such claims and defenses based on fraud, mistake, duress, usury or misrepresentation, or any other claim based on so-called “lender liability theories”, (ii) any covenants, agreements, duties or obligations set forth in the Loan
Documents, (iii) any actions or omissions of any of the Lender Parties and/or the Lenders’ Affiliates in connections with the initiation or continuing exercise of any right or remedy contained in the Loan Documents or at law or in equity, (iv)
lost profits, (v) loss of business opportunity, (vi) increased financing costs, (vii) increased legal or other administrative fees or (viii) damages to business reputation (collectively, the “Claims”). In 

  
 6 

 
entering into this Agreement, each of the Borrower, Holdco and the other Loan Parties party hereto consulted with, and has been represented by, legal counsel and expressly disclaims any reliance
on any representations, acts or omissions by any of the Releasees and each hereby agrees and acknowledges that the validity and effectiveness of the releases set forth herein do not depend in any way on any such representations, acts and/or
omissions or the accuracy, completeness or validity hereof. The provisions of this Article 14 shall survive the expiration of the Waiver Period and the termination of this Agreement, the Credit Agreement, the other Loan Documents and payment in full
of the Obligations. 
 (b) Without in any way limiting their reaffirmations and acknowledgements set forth in Section 13 and
Section 14 hereof, each of the Borrower and Holdco hereby expressly acknowledges, agrees and reaffirms its reimbursement, indemnification and other obligations to and agreements set forth in Section 9.03 of the Credit Agreement. Each of the Borrower
and Holdco further acknowledges, agrees and reaffirms that all of such reimbursement, indemnification and other obligations and agreements set forth in Section 9.03 of the Credit Agreement shall survive the expiration of the Waiver Period and the
termination of this Agreement, the Credit Agreement, the other Loan Documents and the payment in full of the Obligations. 

Section 15. Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York.

 Section 16. Headings. The various headings of this Agreement are inserted for convenience only and shall not
affect the meaning or interpretation of this Agreement or any provision hereof. 
 Section 17. Execution. This Agreement
may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.
Delivery of an executed counterpart of a signature page to this Agreement by telecopier shall be effective as delivery of a manually executed counterpart of this Agreement. Each Participating Lender hereby directs and authorizes the Administrative
Agent to execute a counterpart to this Agreement. 
 Section 18. Successors and Assigns. This Agreement shall be binding
upon and inure to the benefit of each of the parties hereto and their respective successors and assigns. 
 [signature pages
follow] 

  
 7 

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

			
	 LIFECARE HOLDINGS, INC., as Borrower

		
	 By:
	 	 /s/ Erik C. Pahl

		 	Name: Erik C. Pahl
		 	Title: General Counsel
		
		 	LCI HOLDCO, LLC
		
	 By:
	 	 /s/ Erik C. Pahl

		 	Name: Erik C. Pahl
		 	Title: General Counsel

 [Signature Page to Limited Waiver and Second Amendment to Credit Agreement] 

 GRANTORS, 
 with respect to Sections 8, 13 
 and 14 of this Agreement: 

LIFECARE HOLDINGS, INC. 
 LCI HOLDCO, LLC

 CRESCENT CITY HOSPITALS, L.L.C. 

LIFECARE INVESTMENTS, L.L.C. 
 LIFECARE
MANAGEMENT SERVICES, L.L.C. 
 LIFECARE HOLDING COMPANY OF TEXAS, L.L.C. 
 LIFECARE HOSPITALS OF NEW ORLEANS, L.L.C. 
 NEXTCARE HOSPITALS / MUSKEGON, INC. 

LIFECARE REIT 1, INC. 
 LIFECARE REIT 2, INC.

 LIFECARE HOSPITALS OF FORT WORTH, L.P. 
 LIFECARE HOSPITALS OF NORTH TEXAS, L.P. 
 LIFECARE HOSPITALS OF PITTSBURGH, LLC 

LIFECARE HOSPITALS OF NORTH CAROLINA, L.L.C. 

LIFECARE HOSPITALS, LLC 
 LIFECARE HOSPITALS OF
CHESTER COUNTY, INC. 
 LIFECARE HOSPITALS OF DAYTON, INC. 
 SAN ANTONIO SPECIALTY HOSPITAL, LTD. 
 LIFECARE HOSPITALS OF SOUTH TEXAS, INC. 

LIFECARE HOSPITALS OF MILWAUKEE, INC. 
 LIFECARE
HOSPITALS OF NORTHERN NEVADA, INC. 
 NEXTCARE SPECIALTY HOSPITAL OF DENVER, INC. 
 LIFECARE HOSPITALS OF MECHANICSBURG, LLC 
 LIFECARE HOSPITAL AT TENAYA, LLC 

PITTSBURGH SPECIALTY HOSPITAL, LLC 
 LIFECARE
HOSPITALS OF SARASOTA, LLC 
 LIFECARE SPECIALTY HOSPITAL OF NORTH LOUISIANA, LLC 

 

			
	By:	 	 /s/ Erik C. Pahl

		 	 Name: Erik C. Pahl
 Title:
General Counsel

 [Signature Page to Limited Waiver and First Amendment to Credit Agreement and Termination of Revolving Commitments]

 
			
	 JPMORGAN CHASE BANK, N.A.,

	 as Administrative Agent and as Collateral Agent

		
	By:	 	 /s/ Bruce S. Borden

		 	Name: Bruce S. Borden
		 	Title: Executive Director

 [Signature Page to Limited Waiver and Second Amendment to Credit Agreement] 

 
			
	[LENDER]:
	
	Bank of America, N.A.:
		
	By:	 	 /s/ Tyler D. Levings

		 	Name: Tyler D. Levings
		 	Title: Director
	
	Blue Mountain Credit Alternatives Master Fund L.P.
	By:	 	BlueMountain Capital Management, LLC, its investment manager
		
	By:	 	 /s/ David M. O’Mara

		 	Name: David M. O’Mara
		 	Title: Assistant General Counsel and Vice President
	
	Blue Mountain Long/Short Credit Master Fund L.P.
	By:	 	BlueMountain Capital Management, LLC, its investment manager
		
	By:	 	 /s/ David M. O’Mara

		 	Name: David M. O’Mara
		 	Title: Assistant General Counsel and Vice President
	
	Blue Mountain Distressed Master Fund L.P.
	By:	 	BlueMountain Capital Management, LLC, its investment manager
		
	By:	 	 /s/ David M. O’Mara

		 	Name: David M. O’Mara
		 	Title: Assistant General Counsel and Vice President
	
	Blue Mountain Long Short Grasmoor Fund Ltd.
	By:	 	BlueMountain Capital Management, LLC, its investment manager
		
	By:	 	 /s/ David M. O’Mara

		 	Name: David M. O’Mara
		 	Title: Assistant General Counsel and Vice President

			
	Blue Mountain Long/Short Credit and Distressed Refection Fund
	By:	 	BlueMountain Capital Management, LLC, its investment manager
		
	 By:
	 	 /s/ David M. O’Mara

		 	Name: David M. O’Mara
		 	Title: Assistant General Counsel and Vice President
	
	 Blue Mountain Kicking Horse Fund L.P.

	By: BlueMountain Capital Management, LLC, its investment manager
		
	 By:
	 	 /s/ David M. O’Mara

		 	Name: David M. O’Mara
		 	Title: Assistant General Counsel and Vice President
	
	 Blue Mountain Timberline Ltd.

	By: BlueMountain Capital Management, LLC, its investment manager
		
	 By:
	 	 /s/ David M. O’Mara

		 	Name: David M. O’Mara
		 	Title: Assistant General Counsel and Vice President
	
	 ING Capital LLC

		
	 By:
	 	 /s/ Darren Wells

		 	Name: Darren Wells
		 	Title: Managing Director
	
	 Monarch Master Funding Ltd

	 By: Monarch Alternative Capital LP, its investment manager

		
	 By:
	 	 /s/ Andrew Herenstein

		 	Name: Andrew Herenstein
		 	Title: Managing Principal
	
	 Nuveen Floating Rate Income Fund

	 By: Symphony Asset Management LLC

		
	 By:
	 	 /s/ James Kim

		 	Name: James Kim
		 	Title: Co-Head of Credit Research
	
	 Nuveen Symphony Credit Opportunities Fund

	 By: Symphony Asset Management LLC

		
	 By:
	 	 /s/ James Kim

		 	Name: James Kim
		 	Title: Co-Head of Credit Research

  
 [Signature
Page to Limited Waiver and First Amendment 
 to Credit Agreement and Termination of Revolving Commitments] 

			
	 Nuveen Short Duration Credit Opportunities Fund

	 By:
	 	Symphony Asset Management LLC
		
	 By:
	 	 /s/ James Kim

		 	 Name: James Kim

		 	 Title: Co-Head of Credit Research

	
	 Nuveen Floating Rate Income Opportunity Fund

	 By:
	 	Symphony Asset Management LLC
		
	 By:
	 	 /s/ James Kim

		 	 Name: James Kim

		 	 Title: Co-Head of Credit Research

	
	 Nuveen Senior Income Fund

	 By:
	 	Symphony Asset Management LLC
		
	 By:
	 	 /s/ James Kim

		 	 Name: James Kim

		 	 Title: Co-Head of Credit Research

	
	 Symphony Credit Opportunities Fund, LTD.

	 By:
	 	Symphony Asset Management LLC
		
	 By:
	 	 /s/ James Kim

		 	 Name: James Kim

		 	 Title: Co-Head of Credit Research

	
	 Symphony Event Driven Opportunities Master Fund, L.P.

	 By:
	 	Symphony Asset Management LLC
		
	 By:
	 	 /s/ James Kim

		 	 Name: James Kim

		 	 Title: Co-Head of Credit Research

	
	 SPCP Group, LLC

		
	 By:
	 	 /s/ Michael A. Gatto

		 	 Name: Michael A. Gatto

		 	 Title: Authorized Signatory

	
	 BLT 32 LLC

		
	 By:
	 	 /s/ Steven Dwek

		 	 Name: Steven Dwek

		 	 Title: Authorized Signatory

 [Signature Page to Limited Waiver and First Amendment 

to Credit Agreement and Termination of Revolving Commitments] 

			
	BLT 32 LLC
		
	By:	 	 /s/ David Fitzgerald

		 	Name: David Fitzgerald
		 	Title: Authorized Signatory
	
	GSO Special Situations Overseas Master Fund, Ltd.
		
	By:	 	 /s/ Christopher H. Sullivan

		 	Name: Christopher H. Sullivan
		 	Title: Authorized Signatory
	
	GSO Special Situations Fund L.P.
		
	By:	 	 /s/ Christopher H. Sullivan

		 	Name: Christopher H. Sullivan
		 	Title: Authorized Signatory
	
	Pioneer Floating Rate Trust:
	By:	 	Pioneer Investment Management, Inc., Its adviser
		
	By:	 	 /s/ Margaret C. Begley

		 	Name: Margaret C. Begley
		 	Title: Secretary and Associate General Counsel
	
	Silver Lake Credit Fund, L.P.
	By:	 	Silver Lake Financial Associates, L.P., its general partner
		
	By:	 	 /s/ Geoff Oltmans

		 	Name: Geoff Oltmans
		 	Title: Managing Director
	
	JPMorgan Chase Bank, N.A.
	With respect to its Credit Trading group:
		
	By:	 	 /s/ Andrew Faherty

		 	Name: Andrew Faherty
		 	Title: Vice President
	
	Twin Haven Special Opportunities Fund IV, L.P.
	By:	 	Twin Haven Capital Partners, LLC as Investment Manager
		
	By:	 	 /s/ Michael Vinci

		 	Name: Michael Vinci
		 	Title: COO/CFO

 [Signature Page to Limited Waiver and First Amendment 

to Credit Agreement and Termination of Revolving Commitments] 

			
	General Electric Capital Corporation
		
	By:	 	/s/ J Prandoni
		 	Name: J Prandoni, SVP
		 	Title: Its Duly Authorized Signatory

 [Signature Page to Limited Waiver and First Amendment 

to Credit Agreement and Termination of Revolving Commitments]

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