Document:

Exhibit 10.7

 

Exhibit 10.7

OMNIBUS AMENDMENT AND WAIVER AGREEMENT

     OMINIBUS AMENDMENT AND WAIVER AGREEMENT, dated as of April 26, 2000, by and among TANDEM
HEALTH CARE, INC., a Pennsylvania corporation (the “Company”), the several persons names in
Schedule I hereto (collectively, the “Behrman Investors”), the several persons named in
Schedule II hereto (collectively, the “Founders”) and GLEN A. TOBIAS (“Tobias”).

     WHEREAS, the Company, the Founders and the Behrman Investors are party to a Stockholders
Agreement, dated as of March 25, 1998 (the “Stockholders Agreement”), which sets forth
certain provisions related to the shares of capital stock of the Company owned by the Founders and
the Behrman Investors and certain agreements regarding the management of the Company;

     WHEREAS, the Company, the Founders and the Behrman Investors are party to a Registration
Rights Agreement, dated as of March 25, 1998 (the “Registration Rights Agreement”),
which grants, among other things, certain registration rights to the Behrman Investors;

     WHEREAS, on the date hereof, the Company has entered into a Securities Purchase Agreement (the
“Securities Purchase Agreement”) with Tobias, pursuant to which Tobias will purchase an
aggregate 75,000 shares of Series A Convertible Preferred Stock, $.01 par value (“Convertible
Preferred Stock”), of the Company and 225,000 shares of Series B Redeemable Preferred Stock,
$.01 par value (“Redeemable Preferred Stock”), of the Company;

     WHEREAS, Section 12 of the Stockholders Agreement provides that the Stockholders Agreement may
not be modified or amended except in a writing signed by the Company and the Stockholders (as
defined in the Stockholders Agreement); and

     WHEREAS, Section 13(d) of the Registration Rights Agreement provides that the Registration
Rights Agreement may not be modified or amended except in a writing signed by the holders of a
majority of the shares of the Restricted Stock (as defined in the Registration Rights Agreement);

     NOW, THEREFORE, the parties hereto hereby agree as follows:

     1. Amendment of the Stockholders Agreement. Tobias hereby becomes a party to the
Stockholders Agreement and becomes a “Stockholder” for all purposes under the Stockholders
Agreement, and, accordingly, the definition of the term “Stockholder” in the introductory paragraph
of the Stockholders Agreement is hereby amended to include Tobias. No signatures by the Company or
Tobias other than the signatures on this Agreement shall be necessary for Tobias to become a party
to the Stockholders Agreement. It is understood and agreed that (i) the term “Convertible
Preferred Stock” in the Stockholders Agreement shall include the aggregate 75,000 shares of
Convertible Preferred Stock being purchased by Tobias pursuant to the Securities Purchase Agreement
and (ii) the term “Redeemable Preferred Stock” in

 

 

the Stockholders Agreement shall include the aggregate 225,000 shares of Redeemable Preferred
Stock being purchased by Tobias pursuant to the Securities Purchase Agreement.

     2. Amendment of the Registration Rights Agreement. Tobias hereby becomes a party to
the Registration Rights Agreement and becomes a “Purchaser” for all purposes under the Registration
Rights Agreement, and, accordingly, the definition of the term “Purchaser” in the introductory
paragraph of the Registration Rights Agreement is hereby amended to include Tobias. No signatures
by the Company or Tobias other than the signatures on this Agreement shall be necessary for Tobias
to become a party to the Registration Rights Agreement. It is understood and agreed that (i) the
term “Convertible Preferred Shares” in the Registration Rights Agreement shall include the
aggregate 75,000 shares of Convertible Preferred Stock being purchased by Tobias pursuant to the
Securities Purchase Agreement and (ii) the term “Redeemable Preferred Shares” in the Registration
Rights Agreement shall include the aggregate 225,000 shares of Redeemable Preferred Stock being
purchased by Tobias pursuant to the Securities Purchase Agreement. The parties hereto confirm that
the shares of Common Stock, $.0008 par value of the Company, issued up the conversion of such
Convertible Preferred Shares and any securities issued upon the exchange, adjustment or transfer of
any such shares, shall be included in the definition of “Conversion Shares” and thereby also
included in the definition of “Restricted Stock,” each in the Registration Rights Agreement.

     3. Waiver of Participation Rights. Each of the Founders and the Behrman Investors
hereby waives any and all participation rights that such parties may have under Section 3 of the
Stockholders Agreement with respect to the purchase by Tobias of Convertible Preferred Stock and
Redeemable Preferred Stock as contemplated by the Securities Purchase Agreement.

     4. Effectiveness. This Agreement shall become effective upon the execution and
delivery of counterparts hereof by (i) the Company, (ii) each of the Stockholders (as defined in
the Stockholders Agreement), (iii) the holders of a majority of the shares of Restricted Stock (as
defined in the Registration Rights Agreement) and (iv) Tobias. It is understood and agreed that,
on the date of this Agreement, the Founders and the Behrman Investors together constitute the
parties referred to in (ii) and (iii) of this paragraph.

     5. Law Governing. This Agreement shall be governed by and construed in accordance
with the laws of the state of New York, without regard to principles of conflicts of laws.

     6. Counterparts. This Agreement may be executed in one or more counterparts as if the
parties executing the several counterparts had all executed one counterpart as of the day and year
first above written.

     7. Headings. The titles of the paragraphs of the Agreement are for convenience or
reference only and are not to be considered in construing this Agreement.

* * *

2

 

     IN WITNESS WHEREOF, each of the parties hereto has executed this Omnibus Amendment and Waiver
Agreement as of the day and year first above written.

	 	 	 	 	 	 
	 	 	TANDEM HEALTH CARE, INC.
	 	 
	 

	 	By:
	 	/s/ Lawrence R. Deering
	 

	 	 	 	 
	 

	 	 	 	Name: Lawrence R. Deering

Title: Chairman and CEO
	 	 
	 	 
	 	 	BEHRMAN CAPITAL II L.P.
	 

	 	By:
	 	Behrman Brothers, L.L.C.

   General Partner
	 	 
	 

	 	By:
	 	/s/ Darryl Behrman
	 

	 	 	 	 
	 

	 	 	 	Managing Member
	 	 
	 	 
	 	 	STRATEGIC ENTREPRENEUR FUND II, L.P.
	 	 
	 

	 	By:
	 	/s/ Darryl Behrman
	 

	 	 	 	 
	 

	 	 	 	General Partner
	 	 
	 

	 	 	 	/s/ Lawrence R. Deering
	 

	 	 	 	 
	 

	 	 	 	Lawrence R. Deering
	 	 
	 

	 	 	 	/s/ Joseph D. Conte
	 

	 	 	 	 
	 

	 	 	 	Joseph D. Conte
	 	 
	 

	 	 	 	/s/ Glen A. Tobias
	 

	 	 	 	 
	 

	 	 	 	Glen A. Tobias

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Schedule I

The Behrman Investors are:

Behrman Capital II L.P.

126 East 56th Street

New York, New York 10022

Attn: Darryl G Behrman

Fax: (212)980-7024

Strategic Entrepreneur Fund II, L.P.

126 East 56th Street

New York, New York 10022

Attn: Darryl G Behrman

Fax: (212)980-7024

 

Schedule II

The Founders are:

Lawrence R. Deering

Tandem Health Care, Inc.

Persimmon Road

Sewickley, Pennsylvania 15143

Fax: (412) 749-0958

Joseph D. Conte

550 Via Lugano

Winter Park, Florida 32789

Fax: (407) 539-2388Exhibit 10.8

 

Exhibit 10.8

OMNIBUS AMENDMENT AND WAIVER AGREEMENT

     OMINIBUS AMENDMENT AND WAIVER AGREEMENT, dated as of April 26, 2005, by and among TANDEM
HEALTH CARE, INC., a Pennsylvania corporation (the “Company”), the several persons names in
Schedule I hereto (collectively, the “Behrman Investors”), the several persons
named in Schedule II hereto (collectively, the “Founders”), GLEN A. TOBIAS
(“Tobias”) and ROBERT W. GLUSKIN (“Gluskin”).

     WHEREAS, the Company, the Founders and the Behrman Investors are party to a Stockholders
Agreement, dated as of March 25, 1998 (the “Stockholders Agreement”), which sets forth
certain provisions related to the shares of capital stock of the Company owned by the Founders and
the Behrman Investors and certain agreements regarding the management of the Company;

     WHEREAS, the Company, the Founders and the Behrman Investors are party to a Registration
Rights Agreement, dated as of March 25, 1998 (the “Registration Rights Agreement”),
which grants, among other things, certain registration rights to the Behrman Investors and the
Founders;

     WHEREAS, the Company, the Founders, the Behrman Investors and Tobias are party to an Omnibus
Amendment and Waiver Agreement, dated as of April 26, 2000, whereby Tobias became a party to the
Stockholders Agreement and the Registration Rights Agreement,

     WHEREAS, on the date hereof, the Company has entered into a Securities Purchase Agreement (the
“Securities Purchase Agreement”) with Gluskin and the Behrman Investors, pursuant to which
Gluskin will purchase an aggregate 24,801 shares of Series G Convertible Preferred Stock, $0.01 par
value (“Convertible Preferred Stock”), of the Company and 14,881 shares of Series H
Redeemable Preferred Stock, $0.01 par value (“Redeemable Preferred Stock”), of the Company;

     WHEREAS, Section 12 of the Stockholders Agreement provides that the Stockholders Agreement may
not be modified or amended except in a writing signed by the Company and the Stockholders (as
defined in the Stockholders Agreement); and

     WHEREAS, Section 13(d) of the Registration Rights Agreement provides that the Registration
Rights Agreement may not be modified or amended except in a writing signed by the holders of a
majority of the shares of Restricted Stock (as defined in the Registration Rights Agreement);

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

     1. Amendment of the Stockholders Agreement. Gluskin hereby becomes a party to the
Stockholders Agreement and becomes a “Stockholder” for all purposes under the Stockholders
Agreement, and, accordingly, the definition of the term “Stockholder” in the introductory paragraph
of the Stockholders Agreement is hereby amended to include Gluskin. No signatures by the Company
or Gluskin other than the signatures on this Agreement shall be

 

 

necessary for Gluskin to become a party to the Stockholders Agreement. It is understood and
agreed that (i) the term “Convertible Preferred Stock” in the Stockholders Agreement shall include
the aggregate 24,801 shares of Convertible Preferred Stock being purchased by Gluskin pursuant to
the Securities Purchase Agreement and (ii) the term “Redeemable Preferred Stock” in the
Stockholders Agreement shall include the aggregate 14,881 shares of Redeemable Preferred Stock
being purchased by Gluskin pursuant to the Securities Purchase Agreement.

     2. Amendment of the Registration Rights Agreement. Gluskin hereby becomes a party to
the Registration Rights Agreement and becomes a “Purchaser” for all purposes under the Registration
Rights Agreement, and, accordingly, the definition of the term “Purchaser” in the introductory
paragraph of the Registration Rights Agreement is hereby amended to include Gluskin. No signatures
by the Company or Gluskin other than the signatures on this Agreement shall be necessary for
Gluskin to become a party to the Registration Rights Agreement. It is understood and agreed that
(i) the term “Convertible Preferred Shares” in the Registration Rights Agreement shall include the
aggregate 24,801 shares of Convertible Preferred Stock being purchased by Gluskin pursuant to the
Securities Purchase Agreement and (ii) the term “Redeemable Preferred Shares” in the Registration
Rights Agreement shall include the aggregate 14,881 shares of Redeemable Preferred Stock being
purchased by Gluskin pursuant to the Securities Purchase Agreement. The parties hereto confirm
that the shares of Common Stock, $.00008 par value of the Company, issued up the conversion of such
Convertible Preferred Shares and any securities issued upon the exchange, adjustment or transfer of
any such shares, shall be included in the definition of “Conversion Shares” and thereby also
included in the definition of “Restricted Stock,” each in the Registration Rights Agreement.

     3. Waiver of Participation Rights. Each of the Founders and Tobias hereby waives any
and all participation rights that such parties may have under Section 3 of the Stockholders
Agreement with respect to the purchase by Gluskin and the Behrman Investors of Convertible
Preferred Stock and Redeemable Preferred Stock as contemplated by the Securities Purchase
Agreement.

     4. Effectiveness. This Agreement shall become effective upon the execution and
delivery of counterparts hereof by (i) the Company, (ii) each of the Stockholders (as defined in
the Stockholders Agreement), (iii) the holders of a majority of the shares of Restricted Stock (as
defined in the Registration Rights Agreement) and (iv) Gluskin. It is understood and agreed that,
on the date of this Agreement, the Founders, Tobias and the Behrman Investors together constitute
the parties referred to in (ii) and (iii) of this paragraph.

     5. Law Governing. This Agreement shall be governed by and construed in accordance
with the laws of the state of New York, without regard to principles of conflicts of laws.

     6. Counterparts. This Agreement may be executed in one or more counterparts as if the
parties executing the several counterparts had all executed one counterpart as of the day and year
first above written.

     7. Headings. The titles of the paragraphs of the Agreement are for convenience or
reference only and are not to be considered in construing this Agreement.

2

 

     IN WITNESS WHEREOF, each of the parties hereto has executed this Omnibus Amendment and Waiver
Agreement as of the day and year first above written.

	 	 	 	 	 	 
	 	 	TANDEM HEALTH CARE, INC.
	 	 
	 

	 	By:
	 	/s/ Lawrence R. Deering
	 

	 	 	 	 
	 

	 	 	 	Name: Lawrence R. Deering

Title: Chief Executive Officer
	 	 
	 	 
	 	 	BEHRMAN CAPITAL II L.P.
	 	 
	 

	 	By:
	 	Behrman Brothers, L.L.C.

General Partner
	 	 
	 

	 	By:
	 	/s/ William M. Matthes
	 

	 	 	 	 
	 

	 	 	 	Managing Member
	 	 
	 	 
	 	 	STRATEGIC ENTREPRENEUR FUND II, L.P.
	 	 
	 

	 	By:
	 	/s/ William M. Matthes
	 

	 	 	 	 
	 

	 	 	 	General Partner
	 	 
	 

	 	 	 	/s/ Lawrence R. Deering
	 

	 	 	 	 
	 

	 	 	 	Lawrence R. Deering
	 	 
	 

	 	 	 	/s/ Joseph D. Conte
	 

	 	 	 	 
	 

	 	 	 	Joseph D. Conte
	 	 
	 

	 	 	 	/s/ Glen A. Tobias
	 

	 	 	 	 
	 

	 	 	 	Glen A. Tobias

	 	 	 	 	 	 
	 

	 	 	 	/s/ Robert W. Gluskin
	 

	 	 	 	 
	 

	 	 	 	Robert W. Gluskin
	 	 
	 	 
	 	 	LAWRENCE R. DEERING GRANTOR RETAINED ANNUITY TRUST
	 	 
	 

	 	By:
	 	/s/ Lawrence R. Deering
	 

	 	 	 	 
	 

	 	 	 	Name: Lawrence R. Deering

Title: Trustee

3

 

SCHEDULE I

The Behrman Investors are:

Behrman Capital II L.P.

126 East 56th Street

New York, York 10022

Attn: Mark Visser

Fax: (212) 980-7024

Strategic Entrepreneur Fund II, L.P.

126 East 56th Street

New York, New York 10022

Attn: Mark Visser

Fax: (212) 980-7024

5

 

SCHEDULE II

The Founders are:

Lawrence R. Deering

c/o Tandem Health Care, Inc.

800 Concourse Parkway South

Suite 200

Maitland, FL 32751

Fax: (407) 571-0595

Joseph D. Conte

c/o Tandem Health Care, Inc.

800 Concourse Parkway South

Suite 200

Maitland, FL 32751

Fax: (407) 571-0595

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