Document:

Amendment No. 2 to Rights Agreement

 Exhibit 4.5 
 AMENDMENT NO. 2 TO RIGHTS AGREEMENT 
 This AMENDMENT NO. 2 TO RIGHTS
AGREEMENT (this “Amendment”) is dated as of May 20, 2011 (the “Effective Time”), among O’Reilly Automotive, Inc., a Missouri corporation (f/k/a O’Reilly Holdings, Inc.) (the
“Company”), and Computershare Trust Company, N.A., as successor rights agent to UMB Bank, N.A. (the “Rights Agent”). Capitalized terms used herein and not otherwise defined shall have the meaning ascribed to
them in the Rights Agreement (as defined below). 
 W I T N E S S E T H: 

WHEREAS, the Company and UMB Bank, N.A., a national banking association, previously entered into a Rights Agreement, dated as of
May 7, 2002 (the “Rights Agreement”); 
 WHEREAS, the Board of Directors of the Company has
determined that an amendment to the Rights Agreement as set forth herein is in the best interest of the Company and its stockholders, and the Company and the Rights Agent desire to evidence such amendment in writing; and 

WHEREAS, the parties hereto desire to amend the Rights Agreement pursuant to and in accordance with Section 27 thereof to redefine
the term “Acquiring Person” and add a definition for “Passive Investor.” 
 NOW THEREFORE, the parties,
intending to be legally bound, do hereby agree as follows: 
  

	 	1.	Amendments to Rights Agreement. 

 (a) Paragraph (a) of Section 1 shall be amended so as to read in its entirety as follows: 
 “Section 1(a). “Acquiring Person” shall mean any Person who or which, together with all Affiliates and Associates of such Person, shall be the Beneficial Owner of fifteen percent
(15%) or more of the shares of Common Stock then outstanding, but shall not include (i) the Company, (ii) any Subsidiary of the Company, (iii) any employee benefit plan of the Company, or of any Subsidiary of the Company, or any
Person or entity organized, appointed or established by the Company for or pursuant to the terms of any such plan, (iv) any Person who becomes the Beneficial Owner of fifteen percent (15%) or more of the shares of Common Stock then
outstanding (or, in the case of a Passive Investor, eighteen percent (18%) or more) as a result of a reduction in the number of shares of Common Stock outstanding due to the repurchase of shares of Common Stock by the Company unless and until
such Person, after becoming aware that such Person has become the Beneficial Owner of fifteen percent (15%) or more of the then outstanding shares of Common Stock (or, in the case of a Passive Investor, eighteen percent (18%) or more),
acquires beneficial ownership of additional shares of Common Stock representing one percent (1%) or more of the shares of Common Stock then outstanding, (v) any such Person who has reported or is required to report such ownership (but less
than twenty percent (20%)) on Schedule 13G under the Exchange Act (or any comparable or successor report) or on Schedule 13D under the Exchange Act (or any comparable or successor report) which Schedule 13D does not state any intention to or
reserve the right to control or influence the management or policies of the Company or engage in any of the actions specified in Item 4 of such schedule (other than the disposition of the Common Stock) and, within 10 Business Days of being
requested by the Company to advise it regarding the same, certifies to the Company that such Person acquired shares of Common Stock in excess of 14.9% (or, in the case of a Passive Investor, 17.9%) inadvertently or without knowledge of the terms of
the Rights and who or which, together with all Affiliates and Associates, thereafter does not acquire additional shares of Common Stock while the Beneficial Owner of fifteen percent (15%) (or, in the case of a Passive Investor, eighteen percent
(18%)) or more of the shares of Common Stock then outstanding; provided, however, that if the Person requested to so certify fails to do so within 10 Business Days, then such Person shall become an Acquiring Person immediately after such
10-Business-Day period, or (vi) a Passive Investor. Notwithstanding the foregoing, the term “Acquiring Person” shall not include (i) Charles H. O’Reilly, Sr., (ii) any spouse of the Person identified in clause
(i) above, (iii) the lineal descendants (including Persons adopted prior to attaining the age of 21 years) of any Person described in clause (i) or (ii) above or the spouses of any such lineal descendants, (iv) any Affiliate
or Associate of any of the Persons described in clauses (i) through (iii) above or (v) any successor in interest (as defined below) to any Person described in clauses (i) through (iv) above (collectively, the
“O’Reilly Holders”); provided, further, that if any Person that is a O’Reilly Holder becomes the Beneficial Owner of 

 
additional shares of Common Stock (other than (A) shares of Common Stock that are beneficially owned, as of the date hereof, by any other O’Reilly Holder (the “O’Reilly
Shares”) or (B) shares of Common Stock that are acquired directly from the Company) such that, after giving effect to such additional shares, the number of shares of Common Stock beneficially owned by such Person (excluding any other
O’Reilly Shares) exceeds the number of shares of Common Stock beneficially owned by such Person on the date hereof (excluding any other O’Reilly Shares) by more than 2% of the then outstanding shares of Common Stock, then such Person shall
cease to be excluded from the definition of “Acquiring Person” pursuant to this sentence. The forgoing sentence is not intended to acknowledge or imply that any O’Reilly Holder is the Beneficial Owner of any O’Reilly Shares held
by any other O’Reilly Holder or that all or any portion of any O’Reilly Holders constitute a “group” (as described in Section 13(d)(3) of the Exchange Act) with respect to the Common Stock for any purpose. For purposes of
this Section 1(a), a O’Reilly Holder’s “successor in interest” shall be (i) the beneficiaries (whether by testate or intestate succession) of any O’Reilly Holder’s estate and any trustee (in his fiduciary
capacity) or beneficiary of any trust who obtains (by reason of the O’Reilly Holder’s death) beneficial ownership of any O’Reilly Shares (ii) any O’Reilly Holder’s estate, and (iii) the Affiliates and Associates of
the Persons described in clauses (i) and (ii) of this sentence. 
 (b) The term “Passive
Investor” shall be inserted in alphabetical order in Section 1 of the Rights Agreement, the definition of which shall read in its entirety as follows: 
 “Passive Investor” shall mean any such Person who has reported such ownership (but less than eighteen percent (18%)) on Schedule 13G under the Exchange Act (or any comparable or successor
report) as of December 31, 2010 and owns over ten percent (10%) as of December 31, 2010; provided, however, that if either (a) such Passive Investor becomes the Beneficial Owner of additional shares of Common Stock such that such
person is the Beneficial Owner of eighteen percent (18%) or more of the shares of Common Stock then outstanding, or (b) such Passive Investor is the Beneficial Owner of fifteen percent (15%) or more but less than eighteen percent
(18%) of the shares of Common Stock then outstanding and reports or is required to report such ownership of shares of Common Stock on Schedule 13D under the Exchange Act (or any comparable or successor report) which Schedule 13D reports the
intention to or reserves the right to control or influence the management or policies of the Company or engage in any of the actions specified in Item 4 of such schedule (other than the disposition of the Common Stock), then such Person shall
become an Acquiring Person immediately. 
  

	 	2.	Miscellaneous. 

 (a) Effective Time of Amendment. This Amendment shall become effective at the Effective Time. The Company shall notify the Rights Agent of the occurrence of the Effective Time promptly
thereafter. 
 (b) Effect of Amendment. Except as specifically amended hereby, the Rights Agreement
is in all respects acknowledged, ratified and confirmed, and shall continue in full force and effect in accordance with the terms thereof as amended and supplemented by this Amendment. This Amendment is limited as expressly specified, and shall not
constitute an amendment, modification, acceptance or waiver of any other provision of the Rights Agreement. The Rights Agreement and this Amendment, shall be read, taken and construed as one and the same agreement, and the Rights Agreement is hereby
amended accordingly. From and after the effectiveness of this Amendment, all references to the Rights Agreement in any other document, instrument, agreement or writing shall be deemed to be references to the Rights Agreement as amended hereby.

 (c) Execution. This Amendment may be executed in two or more counterparts, all of which when
taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. If
any signature is delivered by facsimile or electronic transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such
facsimile or electronically transmitted signature page were an original thereof. 

 (d) Severability. If any provision of this Amendment is held
to be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Amendment shall not in any way be affected or impaired thereby and the parties will attempt in good faith to agree upon a
valid and enforceable provision that is a reasonable substitute therefor and effects the original intent of the parties as closely as possible, and upon so agreeing, shall incorporate such substitute provision in this Amendment. 

(e) Governing Law. This Amendment, the Rights Agreement and each Right and each Rights Certificate issued
thereunder shall be deemed to be a contract made under the laws of the State of Missouri and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts made and to be performed entirely
within such State. 
 [signature page follows] 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above. 

 

					
	O’REILLY AUTOMOTIVE, INC.
		
	By:	 	 /s/ Thomas McFall

		 	Name:	 	Thomas McFall
		 	Title:	 	Executive Vice President and Chief Financial Officer

 [signatures continue] 

 
					
	 COMPUTERSHARE TRUST COMPANY, N.A.,
 as Rights Agent

		
	By:	 	 /s/ Dennis V Moccia

		 	Name:	 	Dennis V. Moccia
		 	Title:	 	Manager, Contract AdministrationNew Lender Supplement and Incremental Amendment

 Exhibit 10.1 
 EXECUTION VERSION 
 NEW LENDER SUPPLEMENT 

AND 
 INCREMENTAL
AMENDMENT 
 NEW LENDER SUPPLEMENT AND INCREMENTAL AMENDMENT, dated as of May 17, 2011 (this “Amendment”),
to the Credit Agreement, dated as of February 1, 2011 (as heretofore amended, supplemented or otherwise modified, the “Credit Agreement”), among LIFECARE HOLDINGS, INC. (the “Borrower”), LCI HOLDCO, LLC, the
several banks and other financial institutions or entities from time to time party thereto as lenders (the “Lenders”) and JPMORGAN CHASE BANK, N.A., as administrative agent and collateral agent (in such capacities, the
“Administrative Agent”). 
 W I T N E S S E T
H 
 WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to make, and have made, certain loans and other
extensions of credit to the Borrower; 
 WHEREAS, the Required Lenders under the Credit Agreement have consented to the
borrowing by the Borrower of the New Term Loans (as defined below) on and subject to the terms and conditions of this Amendment; and 
 WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the Borrower has requested that additional term loans in an aggregate amount of $47,200,000 (the “New Term Loans”) be made
available to the Borrower, and the New Term Loan Lenders (as defined below) and the Administrative Agent have agreed, upon the terms and subject to the conditions set forth herein, that (a) certain financial institutions (collectively, the
“New Term Loan Lenders”) will make New Term Loans, (b) the proceeds of the New Term Loans shall be utilized to finance a portion of the Acquisition (as defined below), to pay fees and expenses incurred in connection with the
Acquisition and this Amendment and for working capital purposes of the Borrower and its Subsidiaries and (c) as permitted by Section 2.20 of the Credit Agreement, the Credit Agreement will be amended as set forth herein without any
additional consent or approval of the Lenders; 
 NOW, THEREFORE, the parties hereto agree as follows: 

SECTION 1. Defined Terms. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the
Credit Agreement (as amended by this Amendment). As used in this Amendment: 
 (a) the “Acquired Hospital
Assets” means eight long term acute care hospitals and substantially all of the assets related thereto; 
 (b) the
“Acquisition” means the acquisition pursuant to the Acquisition Agreement of the Acquired Hospital Assets; 

(c) the “Acquisition Transactions” means, collectively, the transactions to occur on the New Term Loan Borrowing Date
pursuant to the Acquisition Agreement, the Amendment Documents and the other Loan Documents, including (i) the consummation of the Acquisition; (ii) the execution, delivery and performance by each Loan Party of the Amendment Documents to
which it is a party, including the borrowing of the New Term Loans, (iii) the payment of amounts owed under the master lease agreement to be entered into in connection with the Acquisition and (iv) the payment of all fees and expenses to
be paid on or prior to the New Term Loan Borrowing Date and owing in connection with the foregoing; 

 (d) the “Acquisition Agreement” means the Asset Purchase Agreement, and the
schedules and exhibits thereto, which were delivered to the Administrative Agent on May 17, 2011, as amended, supplemented or otherwise modified (but without giving effect to any such amendment, supplement or other modification that is
materially adverse to the interests of the Lenders in their capacity as Lenders); 
 (e) the “Amendment
Documents” means this Amendment and the Reaffirmations; 
 (f) the “Amendment Transactions” means
(a) the execution, delivery and performance by each Loan Party of the Amendment Documents to which it is a party and (b) the payment of all fees and expenses to be paid on or prior to the New Term Loan Borrowing Date and owing in
connection with the foregoing; 
 (g) “New Term Loan Borrowing Date” means the date on which the conditions
precedent set forth in Section 4 shall have been satisfied, which date shall not be later than September 1, 2011 and shall be designated in a notice of the Borrower delivered to the Administrative Agent in accordance with Section 2.03
of the Credit Agreement; 
 (h) “New Term Loan Borrowing Date Material Adverse Change” means any change, fact,
circumstance, occurrence, event, effect or condition that, individually or in the aggregate with all other changes, facts, circumstances, occurrences, events, effects or conditions (a) has or is reasonably likely to have a material adverse
effect on the ability of Sellers (as defined in the Acquisition Agreement) to consummate the Contemplated Transactions (as defined in the Acquisition Agreement) or (b) has or is reasonably likely to have a material adverse effect on the
business, operation, condition (financial or otherwise) or results of operation of a Facility (as defined in the Acquisition Agreement) or the Purchased Assets (as defined in the Acquisition Agreement) constituting a Facility; except to the extent
resulting from (A) changes in general local, domestic, foreign or international economic or political conditions or the securities market in general, (B) changes affecting generally the same or similar industries or markets in which the
Facilities operate, (C) acts of war, sabotage or terrorism, military actions, armed conflicts or the escalation thereof, (D) any changes in applicable laws, regulations, rules, ordinances, policies, mandates, guidelines or other
requirements of any Governmental Authority generally applicable to the Facilities or the Purchased Assets, including long-term acute care hospital rules or regulations, (E) any changes in accounting rules or principles, including changes in
GAAP or its application, (F) any other action required by the Acquisition Agreement and/or (G) the negotiation, execution, announcement or performance of the Acquisition Agreement or the consummation of the Contemplated Transactions,
including the impact thereof on relationships, contractual or otherwise, with customers, suppliers, licensors, distributors, partners or employees; 
 (i) “New Term Loan Commitment” means as to any New Term Loan Lender, the obligation of such New Term Loan Lender to make a New Term Loan to the Borrower on the New Term Loan Borrowing
Date in a principal amount not to exceed the amount set forth opposite such New Term Loan Lender’s name on Annex I. The initial aggregate amount of the New Term Loan Commitments is $47,200,000; and 

(j) “Reaffirmation” shall have the meaning assigned thereto in Section 3(g) hereof; 

SECTION 2. New Term Loans. (a) Subject to the terms and conditions set forth herein, each New Term Loan Lender agrees to make
a New Term Loan to the Borrower on the New Term Loan Borrowing Date in a principal amount equal to its New Term Loan Commitment. The New Term Loans 

  
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shall be made in accordance with the procedures set forth In Sections 2.02 and 2.03 of the Credit Agreement, except that the Interest Periods applicable thereto shall be the same as the remaining
portions of the Interest Periods then applicable to the other Term Loans and the Eurodollar Rates applicable for such Interest Periods shall likewise be the same as those applicable to the other Term Loans. After the borrowing of the New Term Loans,
the New Term Loans shall be Term Loans for all purposes of the Credit Agreement without any distinction between them and the original Term Loans (except that the interest payable on the New Term Loans at the end of the first Interest Periods
applicable thereto shall only reflect accruals from the New Term Loan Borrowing Date), and the New Term Loan Lenders shall be Term Lenders. 
 (b) Upon the borrowing of the New Term Loans, the amount in the amortization schedule in Section 2.10 shall be updated by the Borrower by delivery to the Administrative Agent of a new schedule on or
prior to September 20, 2011, and such schedule shall specify that each installment due during the period from and including September 30, 2011 to and including December 31, 2015 shall be equal (subject to appropriate rounding) to
$643,750 plus an amount which is the same proportion of the aggregate principal amount of the New Term Loans as of September 30, 2011 (including any such principal attributable to PIK Interest then due or accrued thereon) as $643,750 is to the
aggregate principal amount of the original Term Loans on September 30, 2011 (including any such principal attributable to PIK Interest previously added thereto and then due or accrued thereon) and the amount in such amortization schedule for
the last installment (due on the Term Loan Maturity Date) shall be revised to provide that the remaining principal amount of the Term Loans shall then be due. 
 (c) The proceeds of the New Term Loans shall be used only for the payment of (i) consideration for the Acquisition, (ii) fees and expenses incurred in connection with the foregoing and with the
New Term Loans and (iii) for working capital purposes of the Borrower and its Subsidiaries. 
 (d) The Credit Agreement is
hereby deemed amended as necessary to reflect the provisions of this Section 2. 
 SECTION 3. Conditions to
Effectiveness of Amendment. This Amendment shall become effective (the date of such effectiveness, the “Amendment Effective Date”) when the Administrative Agent shall have received a counterpart of this Amendment, executed and
delivered by a duly authorized officer of the Borrower, Holdings, the New Term Loan Lenders and the Administrative Agent. 

SECTION 4. Conditions to Borrowing the New Term Loans. The obligations of each New Term Loan Lender to make a New Term Loan
hereunder are subject to the satisfaction of each of the following conditions: 
 (a) The Acquisition shall have been
consummated or shall be consummated substantially simultaneously on the New Term Loan Borrowing Date, in each case in accordance with the terms hereof and the terms of the Acquisition Agreement, without giving effect to any waivers thereof or
amendments thereto by the Borrower that are materially adverse to the interests of the Lenders in their capacity as Lenders, without the consent of the Administrative Agent and the Arranger, such consent not to be unreasonably withheld or delayed.

 (b) (i) The representations made by the Seller in the Acquisition Agreement as are material to the interests of the
Lenders, but only to the extent that the accuracy of any such representation is a condition to Borrower’s obligations to consummate the Acquisition under the Acquisition Agreement or entitles Borrower to terminate its obligations under the
Acquisition Agreement, or not to close thereunder, as a result of a breach of such representations in the Acquisition Agreement shall be true and 

  
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correct in all material respects and (ii) the representations and warranties set forth in Sections 5(a), 5(c)(i) through (iv) and 5(e) hereof and Section 3.01, 3.09 and 3.18 of the
Credit Agreement shall be true and correct in all material respects on and as of the date of the borrowing of the New Term Loans with the same effect as though made on and as of such date, except to the extent such representations and warranties
expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects on and as of such earlier date). 
 (c) There shall have been no New Term Loan Borrowing Date Material Adverse Change and no event or circumstance shall have occurred which might reasonably be expected to result in a New Term Loan Borrowing
Date Material Adverse Change. 
 (d) The Administrative Agent and the Arranger shall have received all fees and other amounts
due and payable on or prior to the New Term Loan Borrowing Date, including, to the extent invoiced, reimbursement or payment of all reasonable documented out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel)
required to be reimbursed or paid by any Loan Party hereunder or under any other Loan Document. 
 (e) The Administrative Agent
shall have received a certificate from the chief financial officer of the Borrower, substantially in the form of Exhibit A, certifying that as of the New Term Loan Borrowing Date the Borrower and its Subsidiaries, on a consolidated basis after
giving effect to the Acquisition Transactions, are Solvent. 
 (f) The Administrative Agent shall have received an executed
legal opinion of Ropes & Gray LLP, counsel to the Borrower substantially in the form of Exhibit B hereto. 
 (g) The
Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of each Loan Party, the authorization of the
Acquisition Transactions and any other legal matters relating to the Loan Parties, the Loan Documents or the Acquisition Transactions, all in form and substance reasonably satisfactory to the Administrative Agent. 

(h) The Subsidiary Guarantors shall reaffirm, by executing an Acknowledgement and Consent, substantially in the form of Exhibit C hereto
(each, a “Reaffirmation”), that the New Term Loans shall be secured equally and ratably with the Term Loans outstanding immediately prior to the New Term Loan Borrowing Date by the Collateral (including receipt of any Mortgages and
supporting documents for all Mortgaged Properties, it being understood that with respect to any Mortgaged Properties acquired pursuant to the Acquisition, Mortgages and supporting documents shall be received within 30 days of the New Term Loan
Borrowing Date). 
 (i) The Administrative Agent shall have received a certified copy of the Acquisition Agreement, including
all schedules and exhibits thereto, duly executed by the parties thereto, as certified by an executive officer or a Financial Officer of the Borrower that such documents are true and complete and in full force and effect as of the New Term Loan
Borrowing Date. 
 For the avoidance of doubt, the obligations of each New Term Loan Lender to make a New Term Loan hereunder shall not be
subject to the satisfaction of the requirements of Section 2.20(a)(iii) and (iv) of the Credit Agreement. 

  
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 The acceptance of the benefits of the making of the New Term Loans shall be deemed to constitute a
representation and warranty by Holdings and the Borrower on the date thereof that the conditions set forth in clauses (a) and (b)(ii) of this Section 4, exist as of that time. 

SECTION 5. Representations and Warranties. Each of Holdings and the Borrower represents and warrants to the Lenders that:

 (a) The Amendment Transactions entered into and to be entered into by each Loan Party are within such Loan Party’s
corporate, limited partnership or limited liability company powers, as applicable, and have been duly authorized by all necessary corporate, limited partnership or limited liability company and, if required, stockholder action. This Amendment has
been duly executed and delivered by each of Holdings and the Borrower and constitutes, and each Reaffirmation, when executed and delivered by each Subsidiary Loan Party, will constitute, a legal, valid and binding obligation of Holdings, the
Borrower or such Subsidiary Loan Party (as the case may be), enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law, and implied covenants of good faith and fair dealing. 

(b) As of the Amendment Effective Date, after giving effect to this Amendment, no Default or Event of Default has occurred and is
continuing and the representations and warranties made by the Borrower and the other Loan Parties in or pursuant to the Credit Agreement or any other Loan Document are true and correct in all material respects (or, in the case of any representation
and warranty qualified by materiality, in all respects) on and as of the Amendment Effective Date as if made on the Amendment Effective Date (except to the extent that any such representations and warranties expressly relate to an earlier date, in
which case such representations and warranties were true and correct in all material respects on and as of such earlier date or, in the case of any representation and warranty qualified by materiality, in all respects as of such earlier date).

 (c) (i) The Amendment Transactions do not require any consent or approval of, registration or filing with, or any other
action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect, (ii) the Amendment Transactions will not violate any applicable law or regulation or the charter, by-laws or other organizational
documents of Holdings, the Borrower or any of its Subsidiaries or any order of any Governmental Authority, (iii) the Amendment Transactions will not violate or result in a default under any indenture, agreement or other instrument binding upon
Holdings, the Borrower or any of its Subsidiaries or any of their assets, or give rise to a right thereunder to require any payment to be made by Holdings, the Borrower or any of its Subsidiaries, (iv) the Amendment Transactions will not result
in the creation or imposition of any Lien on any asset of Holdings, the Borrower or any of its Subsidiaries, except Liens permitted under Section 6.02 of the Credit Agreement; except, in the case of clauses (i), (ii) and (iii), where the
failure to obtain such consent or approval or make such registration, filing or action or any such violation or default would not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect and (v) the
Amendment Transactions will not result in any limitation on any right, qualification, approval, permit, authorization, reimbursement approval, reimbursement or franchise, or authorization granted by a Governmental Authority or third-party payor or
other Person applicable to the business or operations of the Borrower or adversely affect the ability of the Borrower or any of the Subsidiaries to participate in any third-party payor arrangement or restrict the ability of the Borrower or any of
its Subsidiaries to operate the Healthcare Facilities, except where such limitation will not have a Material Adverse Effect. 

(d) As of the Amendment Effective Date, there are no actions, suits, proceedings or investigations by or before any arbitrator or
Governmental Authority pending against or, to the 

  
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knowledge of Holdings or the Borrower, threatened against Holdings, the Borrower or any of their Subsidiaries or Healthcare Facilities that involve any of the Amendment Documents or the
Acquisition Transactions. 
 SECTION 6. Effects on Loan Documents. (a) Except as specifically amended herein, all
Loan Documents shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. 
 (b) The
execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of the Loan
Documents or in any way limit, impair or otherwise affect the rights and remedies of the Administrative Agent or the Lenders under the Loan Documents. 
 (c) The Borrower and the other parties hereto acknowledge and agree that this Amendment shall constitute a Loan Document. 
 SECTION 7. Expenses. The Borrower agrees to pay or reimburse the Administrative Agent for all its reasonable documented out-of-pocket costs and expenses incurred in connection with this Amendment,
and any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable documented fees and disbursements of counsel to the Administrative Agent, in each case to the extent
required by Section 9.03 of the Credit Agreement. 
 SECTION 8. Non-Reliance on Agents. Each New Term Loan Lender
acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to make its New Term
Loans and to enter into this Amendment. Each New Term Loan Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall from time
to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Amendment, any other Loan Document or related agreement or any document furnished hereunder or thereunder. 

SECTION 9. Joinder. From and after the Amendment Effective Date, each New Term Loan Lender executing and delivering a signature
page to this Amendment shall become a party to the Credit Agreement as amended hereby and shall have the rights and obligations of a Lender thereunder and under the other Loan Documents and shall be bound by the provisions thereof. 

SECTION 10. GOVERNING LAW; WAIVER OF JURY TRIAL. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK; PROVIDED, HOWEVER, THAT THE INTERPRETATION OF THE DEFINITION OF “NEW TERM LOAN BORROWING DATE MATERIAL ADVERSE CHANGE” (AND WHETHER OR NOT A NEW TERM LOAN
BORROWING DATE MATERIAL ADVERSE CHANGE HAS OCCURRED) SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE AS APPLIED TO CONTRACTS SUCH AS THE STOCK PURCHASE AGREEMENT WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT
IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. EACH PARTY HERETO HEREBY AGREES AS SET FORTH FURTHER IN SECTIONS 9.09 AND 9.10 OF THE CREDIT AGREEMENT AS IF SUCH SECTION WERE SET FORTH IN FULL HEREIN. 

  
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 SECTION 11. Amendments; Execution in Counterparts. (a) This Amendment shall not
constitute an amendment of any other provision of the Credit Agreement not referred to herein and shall not be construed as a waiver or consent to any further or future action on the part of the Borrower that would require a waiver or consent of the
Lenders or the Administrative Agent. Except as expressly amended hereby, the provisions of the Credit Agreement are and shall remain in full force and effect. 
 (b) This Amendment may not be amended nor may any provision hereof be waived except pursuant to a writing signed by Holdings, the Borrower, the Administrative Agent and the New Term Loan Lenders. This
Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, including by means of facsimile, each of which when so executed and delivered shall be an original, but all of which shall together
constitute one and the same instrument. 
 [Remainder of page intentionally left blank.] 

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

					
	LIFECARE HOLDINGS, INC.
		
	By:	 	 /s/ Chris A. Walker

		 	Name:	 	Chris A. Walker
		 	Title:	 	Chief Financial Officer
	
	LCI HOLDCO, LLC
		
	By:	 	 /s/ Chris A. Walker

		 	Name:	 	Chris A. Walker
		 	Title:	 	Chief Financial Officer

  
 [Signature
Page to LifeCare Incremental Amendment] 

 
					
	JPMORGAN CHASE BANK, N.A., as Administrative Agent
		
	By:	 	 /s/ Bruce S. Borden

		 	Name:	 	Bruce S. Borden
		 	Title:	 	Executive Director

 EXHIBIT A 
 FORM OF SOLVENCY CERTIFICATE 

 EXHIBIT B 
 FORM OF LEGAL OPINION OF ROPES & GRAY LLP 

 EXHIBIT C 
 ACKNOWLEDGEMENT AND CONSENT 
 Each of the parties hereto hereby acknowledges and
consents to the Incremental Amendment, dated as of [                    ], 2011 (the “Amendment”; capitalized terms used
herein, but not defined, shall have the meanings set forth in the Amendment), to the Credit Agreement, dated as of February 1, 2011, among LifeCare Holdings, Inc., LCI Holdco, LLC, the several banks and other financial institutions or entities
from time to time party thereto as lenders and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and agrees with respect to each Loan Document to which it is a party: 

(a) all of its obligations, liabilities and indebtedness under such Loan Document shall remain in full force and effect on a continuous
basis after giving effect to the Amendment and its guarantee, if any, of the obligations, liabilities and indebtedness of the other Loan Parties under the Credit Agreement shall extend to and cover the New Term Loans made pursuant to the Amendment
and interest thereon and fees and expenses and other obligations in respect thereof and in respect of commitments related thereto; and 
 (b) all of the Liens and security interests created and arising under such Loan Document remain in full force and effect on a continuous basis, and the perfected status and priority of each such Lien and
security interest continues in full force and effect on a continuous basis, unimpaired, uninterrupted and undischarged, after giving effect to the Amendment, as collateral security for its obligations, liabilities and indebtedness under the Credit
Agreement and under its guarantees, if any, in the Loan Documents, including, without limitation, the New Term Loans. 

[Remainder of page intentionally left blank.] 

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

  
 [Signature
Page to Acknowledgement] 

 ANNEX 1 
 Commitments 
 New Term Loan Commitment 

 

					
	 Name of New Term Loan Lender
	  	New Term
Loan
Commitment	 
	 JPMorgan Chase Bank, N.A.
	  	$	47,200,000

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