Document:

First Place Financial Corp. form of change in control agreement

 Exhibit 10.9 
 FORM OF 
 FIRST PLACE FINANCIAL CORP. 
 CHANGE IN CONTROL AGREEMENT 
 This AGREEMENT is made effective as of
                    , by and between First Place Financial Corp. (the “Holding Company”), a corporation organized under the laws of
the State of Delaware, with its principal office at 185 East Market Street, Warren, Ohio, and                      (“Executive”).
The term “Institution” refers to First Federal Savings and Loan Association of Warren, a wholly-owned subsidiary of the Holding Company or any successor thereto. 
 WHEREAS, the Holding Company recognizes the substantial contribution Executive has made to the Holding Company and wishes to protect his position
therewith for the period provided in this Agreement; and 
 WHEREAS, Executive has agreed to serve in the employ of the Holding Company or an
affiliate thereof. 
 NOW, THEREFORE, in consideration of the contribution and responsibilities of Executive, and upon the other terms and
conditions hereinafter provided, the parties hereto agree as follows: 
  

	1.	TERM OF AGREEMENT. 

 The period of this Agreement
shall be deemed to have commenced as of the date first above written and shall continue for a period of twenty-four (24) full calendar months thereafter. Commencing on the date of the execution of this Agreement, the term of this Agreement
shall be extended for one day each day until such time as the board of directors of the Holding Company (the “Board”) or Executive elects not to extend the term of the Agreement by giving written notice to the other party in accordance
with Section 4 of this Agreement, in which case the term of this Agreement shall be fixed and shall end on the second anniversary of the date of such written notice. 
  

	2.	CHANGE IN CONTROL. 

 (a) Upon the occurrence of a
Change in Control of the Holding Company (as herein defined) followed at any time during the term of this Agreement by the termination of Executive’s employment, the provisions of Section 3 shall apply. Upon the occurrence of a Change in
Control, Executive shall have the right to elect to voluntarily terminate his employment at any time during the term of this Agreement following any material demotion, loss of title, office or significant authority or responsibility, material
reduction in annual compensation or benefits, or relocation of his principal place of employment by more than 50 miles from its location immediately prior to the Change in Control, unless such termination is because of his death, disability,
retirement or Termination for Cause. 
 (b) For purposes of this Agreement, a “Change in Control” of the Holding Company or the
Institution shall mean an event of a nature that: (i) would be required to be reported in response to Item 1 of the Current Report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”); or (ii) results in a Change in Control of the Institution or the Holding Company within the meaning of the Home Owners’ Loan Act 

 
of 1933, as amended, the Federal Deposit Insurance Act, or the Rules and Regulations promulgated by the Office of Thrift Supervision (“OTS”) (or
its predecessor agency), as in effect on the date hereof (provided, that in applying the definition of change in control as set forth under the Rules and Regulations of the OTS, the Board shall substitute its judgment for that of the OTS); or
(iii) without limitation such a Change in Control shall be deemed to have occurred at such time as (A) any “person” (as the term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of voting securities of the Institution or the Holding Company representing 25% or more of the Institution’s or the Holding Company’s outstanding voting
securities or right to acquire such securities except for any voting securities of the Institution purchased by the Holding Company and any voting securities purchased by any employee benefit plan of the Holding Company or its Subsidiaries, or
(B) individuals who constitute the Board on the date hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the date hereof whose
election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board, or whose nomination for election by the Company’s stockholders was approved by a Nominating Committee solely composed of members which
are Incumbent Board members, shall be, for purposes of this clause (B), considered as though he were a member of the Incumbent Board, or (C) a plan of reorganization, merger, consolidation, sale of all or substantially all the assets of the
Institution or the Holding Company or similar transaction occurs or is effectuated in which the Institution or Holding Company is not the resulting entity; or (D) a proxy statement has been distributed soliciting proxies from stockholders of
the Holding Company, by someone other than the current management of the Holding Company, seeking stockholder approval of a plan of reorganization, merger or consolidation of the Holding Company or Institution with one or more corporations as a
result of which the outstanding shares of the class of securities then subject to such plan or transaction are exchanged for or converted into cash or property or securities not issued by the Institution or the Holding Company, or (E) a tender
offer is made for 20% or more of the voting securities of the Institution or Holding Company then outstanding. 
 (c) Executive shall not
have the right to receive termination benefits pursuant to Section 3 hereof upon Termination for Cause. The term “Termination for Cause” shall mean termination because of Executive’s personal dishonesty, willful misconduct,
conduct damaging the reputation of the Institution or the Holding Company, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, regulation (other than traffic
violations or similar offenses) final cease and desist order or material breach of any provision of this Agreement Notwithstanding the foregoing, Executive shall not be deemed to have been Terminated for Cause unless and until there shall have been
delivered to him a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after
reasonable notice to Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, Executive was guilty of conduct justifying Termination for Cause and specifying the
particulars thereof in detail. Executive shall not have the right to receive compensation or other benefits for any period after the Date of Termination for Cause. During the period beginning on the date of the Notice of Termination for Cause
pursuant to Section 4 hereof through the Date of Termination for Cause, stock options and related limited rights granted to Executive under any stock option plan shall not be exercisable nor shall any unvested awards granted to Executive under
any stock benefit plan of the Institution, the Holding Company or any subsidiary or affiliate thereof, vest. At the Date of Termination for Cause, such stock options and related limited rights and any such unvested awards shall become null and void
and shall not be exercisable by or delivered to Executive at any time subsequent to such Date of Termination for Cause. 

	3.	TERMINATION BENEFITS. 

 (a) Upon the occurrence of a
Change in Control, followed at any time during the term of this Agreement by the termination of Executive’s employment due to: (1) Executive’s dismissal or (2) Executive’s voluntary termination pursuant to Section 2(a),
unless such termination is due to Termination for Cause, the Holding Company shall pay Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, a sum equal to two (2) times
Executive’s average annual compensation for the five most recent taxable years that Executive has been employed by the Institution or such lesser number of years in the event that Executive shall have been employed by the Institution for less
than five years. Such annual compensation shall include base salary, commissions, bonuses, any other cash compensation, contributions or accruals on behalf of Executive to any pension and/or profit sharing plan, severance payments, retirement
payment, director or committee fees and fringe benefits paid or to be paid to the Executive in any such year and payment of any expense item without accountability or business purpose or that do not meet the Internal Revenue Service requirements for
deductibility by the Holding Company or the Institution. At the election of Executive which election is to be made prior to a Change in Control, such payment shall be made in a lump sum as of Executive’s Date of Termination. In the event that
no election is made, payment to Executive will be made on a monthly basis in approximately equal installments during the remaining term of this Agreement. 
 (b) Upon the occurrence of a Change in Control of the Institution or the Holding Company followed at any time during the term of this Agreement by Executive’s termination of employment, other than for Termination
for Cause, the Holding Company shall cause to be continued life and medical coverage substantially equivalent to the coverage maintained by the Institution for Executive prior to his severance, except to the extent such coverage may be changed in
its application to all Institution employees on a nondiscriminatory basis. Such coverage and payments shall cease upon expiration of twenty-four (24) full calendar months following the Date of Termination. 

	 	(c)	Notwithstanding the preceding paragraphs of this Section 3, in the event that: 

 (i) the aggregate payments or benefits to be made or afforded to Executive, which are deemed to be parachute payments as defined in
Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) or any successor thereof, (the “Termination Benefits”) would be deemed to include an “excess parachute payment” under Section 280G of
the Code; and 
 (ii) if such Termination Benefits were reduced to an amount (the “Non-Triggering Amount”), the value of which is
one dollar ($1.00) less than an amount equal to three (3) times Executive’s “base amount,” as determined in accordance with said Section 280G and the Non-Triggering Amount less the product of the marginal rate of any
applicable state and federal income tax and the Non Triggering Amount would be greater than the aggregate value of the Termination Benefits (without such reduction) minus (i) the amount of tax required to be paid by the Executive thereon by
Section 4999 of the Code and further minus (ii) the product of the Termination Benefits and the marginal rate of any applicable state and federal income tax, 
 then the Termination Benefits shall be reduced to the Non-Triggering Amount. The allocation of the reduction required hereby among the Termination Benefits shall be determined by the Executive. 
  

	4.	NOTICE OF TERMINATION. 

 (a) Any purported
termination by the Holding Company or by Executive in connection with a Change in Control shall be communicated by Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a
written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under
the provision so indicated. 
 (b) “Date of Termination” shall mean the date specified in the Notice of Termination (which, in the
case of Termination for Cause, shall not be less than thirty (30) days from the date such Notice of Termination is given); provided, however, that if a dispute regarding the Executive’s termination exists, the “Date of
Termination” shall be determined in accordance with Section 4(c) of this Agreement. 
 (c) If, within thirty (30) days after
any Notice of Termination is given, the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination, except upon the occurrence of a Change in Control and voluntary termination by the
Executive in which case the Date of Termination shall be the date specified in the Notice, the Date of Termination shall be the date on which the dispute is finally determined, either by mutual written agreement of the parties, by a binding
arbitration award, or by a final judgment, order or decree of a court of competent jurisdiction (the time for appeal therefrom having expired and no appeal having been perfected) and provided further that the Date of Termination shall be extended by
a notice of dispute only if such notice is given in good faith and the party giving such notice pursues the resolution of such dispute with reasonable diligence. Notwithstanding the pendency of any such dispute in connection with a Change in
Control, the Institution will continue to pay Executive the payments and benefits due under this Agreement in effect when the notice giving rise to the dispute was given (including, but not limited to, his current annual salary) and continue him as
a participant in all compensation, benefit and insurance plans in which he was participating when the notice of dispute until the earlier of: (1) the resolution of the dispute in 

 
accordance with this Agreement; or (2) the expiration of the remaining term of this Agreement as determined as of the Date of Termination. Amounts paid
under this Section 4(c) are in addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due under this Agreement. 
  

	5.	SOURCE OF PAYMENTS. 

 It is intended by the parties
hereto that all payments provided in this Agreement shall be paid in cash or check from the general funds of the Holding Company. 
  

	6.	EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFIT PLANS. 

 This Agreement contains the entire understanding between the parties hereto and supersedes any prior agreement between the Holding Company and Executive, except that this Agreement shall not affect or operate to reduce any benefit or
compensation inuring to Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than those available to him without reference to this Agreement.

 Nothing in this Agreement shall confer upon Executive the right to continue in the employ of the Holding Company or shall impose on the
Holding Company any obligation to employ or retain Executive in its employ for any period. 
  

	7.	NO ATTACHMENT. 

 (a) Except as required by law, no
right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by
operation of law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void, and of no effect. 
 (b) This
Agreement shall be binding upon, and inure to the benefit of, Executive, the Holding Company and their respective successors and assigns. 
  

	8.	MODIFICATION AND WAIVER. 

 (a) This Agreement may
not be modified or amended except by an instrument in writing signed by the parties hereto. 
 (b) No term or condition of this Agreement
shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a
continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that
specifically waived. 
  

	9.	EFFECT OF ACTION UNDER INSTITUTION AGREEMENT. 

 Notwithstanding any provision herein to the contrary, to the extent that payments and benefits are paid to or received by Executive under the Institution Agreement between Executive and Institution, 

 
the amount of such payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions
of this Agreement. 
  

	10.	SEVERABILITY. 

 If, for any reason, any provision of
this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full
extent consistent with law continue in full force and effect. 
  

	11.	HEADINGS FOR REFERENCE ONLY. 

 The headings of
sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. In addition, references herein to the masculine shall apply equally to
the feminine. 
  

	12.	GOVERNING LAW. 

 The validity, interpretation,
performance, and enforcement of this Agreement shall be governed by the laws of the State of Delaware. 
  

	13.	ARBITRATION. 

 Any dispute or controversy arising
under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a panel of three arbitrators sitting in a location selected by Executive within fifty (50) miles from the location of the Holding
Company’s main office, in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction; provided, however, that Executive shall be
entitled to seek specific performance of his right to be paid until the Date of Termination during the pendency of any dispute or controversy arising under or in connection with this Agreement. 

	14.	PAYMENT OF COSTS AND LEGAL FEES. 

 All reasonable
costs and legal fees paid or incurred by Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid or reimbursed by the Holding Company if Executive is successful pursuant to a legal judgment,
arbitration or settlement. 
  

	15.	INDEMNIFICATION. 

 The Holding Company shall provide
Executive (including his heirs, executors and administrators) with coverage under a standard directors’ and officers’ liability insurance policy at its expense and shall indemnify Executive (and his heirs, executors and administrators) to
the fullest extent permitted under Delaware law and as provided in the Holding Company’s certificate of incorporation against all expenses and liabilities reasonably incurred by him in connection with or arising out of any action, suit or
proceeding in which he may be involved by reason of his having been a director or officer of the Holding Company (whether or not he continues to be a director or officer at the time of incurring such expenses or liabilities), such expenses and
liabilities to include, but not be limited to, judgments, court costs and attorneys’ fees and the cost of reasonable settlements. 
  

	16.	SUCCESSOR TO THE HOLDING COMPANY. 

 The Holding
Company shall require any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or substantially all the business or assets of the Institution or the Holding Company, expressly and unconditionally
to assume and agree to perform the Holding Company’s obligations under this Agreement, in the same manner and to the same extent that the Holding Company would be required to perform if no such succession or assignment had taken place.

 SIGNATURES 
 IN WITNESS WHEREOF, First Place Financial Corp. has caused this Agreement to be executed by its duly authorized officer, and Executive has signed this Agreement, on the
         day of                     , 1999. 
  

							
	ATTEST:	 		  	FIRST PLACE FINANCIAL CORP.
				
	  
	 		  	By:	 	  

		 		  		 	Steven R. Lewis
	Secretary	 		  		 	President and Chief Executive Officer
				
	WITNESS:	 		  		 	
				
	  
	 		  		 	  

	Secretary	 		  		 	Executive
				
	[Seal]Amendment No. 4, dated as of September 18, 2007, to Stock Purchase Agreement

 
Exhibit 10.1 
 FOURTH AMENDMENT DATED OF SEPTEMBER 18, 2007 TO THE STOCK PURCHASE AGREEMENT DATED AS OF
SEPTEMBER 29, 2006, BY AND AMONG HAPC, INC., ICELAND ACQUISITION SUBSIDIARY, INC., INFUSYSTEM, INC. AND I-FLOW CORPORATION 
 THIS
AMENDMENT NO. 4, dated as of September 18, 2007 (this “Amendment”) to the Stock Purchase Agreement dated as of September 29, 2006, as previously amended by an Amendment No. 1 dated as of April 30, 2007, an
Amendment No. 2 dated as of June 29, 2007 and an Amendment No. 3 dated as of July 31, 2007 (collectively, the “Agreement”) by and among I-Flow Corporation, a Delaware corporation (the “Seller”),
InfuSystem, Inc., a California corporation (the “Company”), HAPC, Inc., a Delaware corporation (the “Buyer”), and Iceland Acquisition Subsidiary, Inc., a Delaware corporation (the “Acquisition
Sub”), is entered into with reference to the following: 
 WHEREAS, in accordance with Section 11.2 of the Agreement, the
parties hereto deem it appropriate and advisable to amend the Agreement as described below; and 
 WHEREAS, capitalized terms used but not
defined herein shall have the respective meanings assigned to them in Agreement. 
 NOW, THEREFORE, for good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 1. Amendment of Definition. Section 1.1 of the Agreement is hereby amended such that the definition of “Maximum Amount” contained therein shall be amended and restated as follows: 
 “Maximum Amount” means Thirty-Five Million Dollars (US $35,000,000.00). 
 2. Amendment of Purchase Price. Section 2.1 of the Agreement is hereby amended and restated as follows: 
 Section 2.1 Purchase and Sale of the Shares. Upon the terms and subject to the conditions of this Agreement, at the Closing, the Seller shall
sell, assign, transfer, convey and deliver the Shares to the Acquisition Sub and the Acquisition Sub shall purchase the Shares from the Seller, free and clear of any Encumbrances, for an aggregate purchase price of One Hundred Million Dollars (US
$100,000,000.00) (as such may be adjusted pursuant to the terms hereof, the “Purchase Price”), which amount shall be paid by the Buyer or the Acquisition Sub to the Seller in cash or a combination of (i) a duly completed and
executed promissory note payable to the Seller, dated as of the Closing Date, in a principal amount requested by the Buyer, not to exceed the amount of the Term Loan (as defined in the Term Sheet) pursuant to the Term Sheet, and in a form to be
agreed among the Seller and the Buyer (the “Promissory Note”) and (ii) the Cash Purchase Price in cash. In addition, the Seller shall be entitled to the contingent payment right of up to Twelve Million Dollars ($12,000,000) as
set forth in Section 2.6. 
  

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 3. Amendment of Allocation of Purchase Price. Schedule 8.3 (Allocation of Purchase
Price) to the Agreement is hereby amended and restated as follows: 
 SCHEDULE 8.3 
 Allocation of Purchase Price 
  

					
	 Cash
	  	$	 521,000	 
	 Accounts receivable
	  	 	12,134,000	(1)
	 Inventories
	  	 	214,000	 
	 Prepaid expenses and other current assets
	  	 	101,000	 
	 Property, net
	  	 	11,687,000	 
	 Goodwill
	  	 	77,164,000	(2)
		  	 	 	 
	 Total Purchase Price
	  	$	101,821,000	(3)
		  	 	 	 
	 Cash Purchase Price
	  	 	100,000,000	 
	 Liabilities Assumed:(4)
	  			
	 Accounts payable
	  	 	906,000	 
	 Accrued payroll and related expenses
	  	 	874,000	 
	 State income taxes payable
	  	 	31,000	 
	 Other current liabilities
	  	 	10,000	 
		  	 	 	 
	 Total Purchase Price
	  	$	101,821,000	 
		  	 	 	 

	(1)	net receivables of $10,390,000 plus bad debt reserve of $1,744,000 

	(2)	This amount shall be increased dollar for dollar to reflect the Earn-Out Amount, if any, and the Buyer and the Seller shall cooperate to file a fully executed supplemental IRS Form
8883 to reflect such increase. 

	(3)	allocated assets excludes deferred tax asset—current of $710,000 

	(4)	liabilities assumed excludes deferred tax liability and accrued use tax liability 

 The above figures shall be adjusted to reflect the actual amounts as of the Closing Date, and to take into account any Purchase Price adjustments. 
 4. Amendment of Exhibit C (the Term Sheet). The sections of Exhibit C (the Term Sheet) labeled “Promissory Note” and
“Use of Proceeds” are hereby amended and restated as follows: 
  

					
	Promissory Note:	  	The senior secured term loan (the “Term Loan”) shall be in an amount equal to the sum of (A) $15,000,000.00 and (B) the dollar amount (which amount may be
zero) actually returned to shareholders of the Parent voting against the Acquisition (as defined below) and requesting a return of their investment in accordance with the terms of such investment; provided, however, that if the sum of clauses
(A) and (B) exceeds $35,000,000.00 (the “Maximum Amount”), the Term Loan shall be in an amount equal to the Maximum Amount. The Term Loan shall be evidenced by a note payable to the Noteholder (the
“Promissory Note”).
		
	Use of Proceeds:	  	On the Closing Date, it is anticipated that the aggregate proceeds of the Promissory Note shall be used as follows:
			
		  	Uses:	  	$5,468,000 - deferred underwriting fee, subject to reduction in the same proportion that (a) the dollar amount actually returned to shareholders of the Parent voting against the Acquisition (as
defined below) and requesting a return of their

  

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		  		  	 investment in accordance with the terms of such investment bears to (b) the amount of the Parent’s trust account.
  
 $1,000,000—merger advisory fee.
  
 $2,000,000—Closing costs and fees payable to third parties other than FTN Midwest Securities
Corp.
  
 Balance of proceeds—proposed acquisition of InfuSystem, Inc. (the
“Acquisition”), including fees and expenses payable to the Seller.

 5. Technical Amendment of Ticking Fee. Section 12.1(a) of the
Agreement is hereby amended and restated as follows to preserve the parties’ original intent: 
 (a) Ticking Fee.
The Buyer shall pay a fee (the “Ticking Fee”), accruing from the date of this Agreement, which Ticking Fee shall be due and payable in cash on the last business day of each month, in an amount equal to the sum of (i) $1,041.67
per diem for the period from and including the date of this Agreement through and including the day that is the 90th day following the date of this Agreement, (ii) $1,562.50 per diem for the period from and including the 91st day following the
date of this Agreement through and including the day that is the 150th day following the date of this Agreement, and (iii) $2,083.33 per diem thereafter. The Ticking Fee shall cease to accrue and all amounts then outstanding in respect thereof
shall be immediately due and payable upon the earlier to occur of (A) the Closing Date, (B) the delivery by the Buyer to the Seller of a notice terminating the Buyer’s right to pay a portion of the Purchase Price by issuing the
Promissory Note on the Closing Date (because alternative financing has been arranged which will enable the Buyer to pay the Purchase Price in cash in full at the Closing Date) or (C) the date that this Agreement is terminated in accordance with
the provisions of Article X. 
 6. Technical Amendment of Facility Fee. Section 12.1(c) of the Agreement is hereby
amended and restated as follows to preserve the parties’ original intent: 
 (c) Facility Fee. On the Closing
Date, if the Buyer executes and delivers the Promissory Note, the Buyer shall pay a fee (the “Facility Fee”) in an amount equal to the sum of (i) $1,375,000 plus (ii) 2.50% of the excess of the actual principal amount of
the Promissory Note over $15,000,000. 
 7. Addition of Earn-Out Provision. A new Section 2.6 is hereby added to
the Agreement as follows: 
 Section 2.6 Earn-Out. 
 (a) Preparation of Earn-Out Statement. Within seventy-five (75) calendar days after the end of the Buyer’s fiscal year
ended December 31, 2010 (“FY 2010”), the Buyer shall prepare or cause to be prepared and delivered to the Seller, at the Buyer’s expense, a statement (the “Earn-Out Statement”) setting forth the
calculation of the Buyer’s audited consolidated net revenue for FY 2010 (the “2010 Revenue Amount”), without regard to whether such amounts are classified as continuing or discontinued operations and further including the
revenue of any entities acquired by or merged into the Buyer and included in the Buyer’s FY 2010 consolidated net revenue in accordance with GAAP. The Buyer and the Buyer’s accountants shall cooperate with the Seller and the
Seller’s accountants in connection with the preparation of the Earn-Out Statement, and the Buyer shall provide the Seller and the Seller’s accountants with reasonable access to any of its books, records, schedules, analyses, working papers
and other information relating to the Buyer for this purpose. The Earn-Out Statement shall be prepared in accordance with GAAP. 
 (b) Review of Earn-Out Statement. Upon receipt from the Buyer, the Seller shall have thirty (30) calendar days to review the Earn-Out Statement (the “Earn-Out Review Period”). If the Seller disagrees 

  

 A-3 

 
with the Buyer’s computation of the 2010 Revenue Amount, the Seller may, on or prior to the last calendar day of the Review Period, deliver a notice to
the Buyer (the “Earn-Out Notice of Objection”), which sets forth its objections to the Buyer’s calculation of the 2010 Revenue Amount. Any Earn-Out Notice of Objection shall specify those items or amounts with which the Seller
disagrees, together with a reasonably detailed written explanation of the reasons for disagreement with each such item or amount, and, to the extent reasonably practicable, shall set forth the Seller’s calculation of the 2010 Revenue Amount
based on such objections. To the extent not set forth in the Notice of Objection, the Seller shall be deemed to have agreed with the Buyer’s calculation of all other items and amounts contained in the Earn-Out Statement. 
 (c) Finalization of Earn-Out Statement. Unless the Seller delivers the Earn-Out Notice of Objection to the Buyer within the
Earn-Out Review Period (or if the Seller provides a written notice to the Buyer that it agrees with the Earn-Out Statement), the Seller shall be deemed to have accepted the Buyer’s calculation of the 2010 Revenue Amount and the Earn-Out
Statement shall be final, conclusive and binding. If the Seller delivers the Earn-Out Notice of Objection to the Buyer within the Earn-Out Review Period, the Buyer and the Seller shall, during the thirty (30) calendar days following such
delivery or any mutually agreed extension thereof, use their commercially reasonable and good faith efforts to reach agreement on the disputed items and amounts in order to determine the 2010 Revenue Amount. If, at the end of such period or any
mutually agreed extension thereof, the Buyer and the Seller are unable to resolve their disagreements, they shall jointly retain and refer their disagreements for final determination to an independent accounting firm mutually agreed upon by the
Buyer and the Seller (or, if the Buyer and the Seller cannot agree on such an accounting firm, then each shall select an independent accounting firm and such accounting firms shall select a third independent accounting firm) (the accounting firm
mutually agreed upon by the Buyer and the Seller or such other accounting firms being the “Earn-Out Independent Expert”). The Buyer and the Seller shall instruct the Earn-Out Independent Expert promptly to review this
Section 2.6 and to determine solely with respect to the disputed items and amounts so submitted whether and to what extent, if any, the 2010 Revenue Amount set forth in the Earn-Out Statement requires adjustment. The Buyer and the Seller shall
make available to the Earn-Out Independent Expert all relevant books and records and other items reasonably requested by the Earn-Out Independent Expert for this purpose. The Buyer and the Seller shall request that the Earn-Out Independent Expert
deliver to the Buyer and the Seller, as promptly as practicable but in no event later than thirty (30) calendar days after its retention, a report that sets forth its resolution of the disputed items and amounts and its calculation of the 2010
Revenue Amount. The decision of the Earn-Out Independent Expert shall be final, conclusive and binding on the parties. The costs and expenses of the Earn-Out Independent Expert shall be borne by the parties in inverse proportion to their success on
the disputed matters as determined by the Earn-Out Independent Expert (by way of example only, if the Buyer’s calculation of the 2010 Revenue Amount yields an Earn-Out Amount (as defined in Section 2.6(d)) of $3 million, the Seller’s
calculation of the 2010 Revenue Amount yields an Earn-Out Amount of $12 million and the Earn-Out Independent Expert’s calculation of the Final 2010 Revenue Amount (as defined below) yields an Earn-Out Amount of $9 million, the Buyer shall bear
two-thirds (2/3) of the costs and expenses of the Earn-Out Independent Expert and the Seller shall bear one-third (1/3) of the costs and expenses of the Earn-Out Independent Expert). Each of the Buyer and the Seller agrees to promptly
execute, if requested by the Earn-Out Independent Expert, a reasonable engagement letter, including customary indemnities in favor of the Earn-Out Independent Expert. The 2010 Revenue Amount, as finally determined pursuant to this Section 2.6,
is referred to herein as the “Final 2010 Revenue Amount.” 
 (d) Calculation of Earn-Out Amount. As
further consideration in respect of the sale of the Shares by the Seller, the Buyer shall pay the Seller, if earned in accordance with this Section 2.6, an additional amount (the “Earn-Out Amount”) based on the Final 2010
Revenue Amount: 
 (i) If the Final 2010 Revenue Amount is less than the First Revenue Target (as defined below), the Earn-Out
Amount shall be zero. 
 (ii) If the Final 2010 Revenue Amount is greater than or equal to the First Revenue Target (as
defined below) but less than the Second Revenue Target (as defined below), the Earn-Out Amount shall be equal to $3 million plus the Incremental Amount (as defined below). 
  

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 (iii) If the Final 2010 Revenue Amount is greater than or equal to the Second Revenue
Target (as defined below), the Earn-Out Amount shall be equal to $12 million. 
 For purposes of this Agreement, 

(x) The “First Revenue Target” shall be equal to the
Company’s 2007 actual net revenues (excluding all revenues related to the Seller’s ON-Q® product line (which includes without limitation ON-Q®, ON-Q PainBuster®, ON-Q C-bloc® and ON-Q Soaker® Catheters) including without limitation revenues resulting from the billing of public and private insurance payors, providers and patients by the Company on behalf of the Seller, as well as any charges to the Seller
by the Company or the Buyer under the Services Agreement or any services agreement existing between the Company and the Seller prior to the Closing) for the entire calendar year 2007, multiplied by 2.744 (representing a 40% compound average growth
rate); 
 (y) The “Second Revenue Target” shall be
equal to the Company’s 2007 actual net revenues (excluding all revenues related to the Seller’s ON-Q® product line (which includes without limitation ON-Q®, ON-Q PainBuster®, ON-Q C-bloc® and ON-Q Soaker® Catheters) including without limitation revenues resulting from the billing of public and private insurance payors, providers and patients by the Company on behalf of the Seller, as well as any
charges to the Seller by the Company or the Buyer under the Services Agreement or any services agreement existing between the Company and the Seller prior to the Closing) for the entire calendar year 2007, multiplied by 3.375 (representing a 50%
compound average growth rate); and 
 (z) The “Incremental Amount” shall equal $9 million multiplied by the
ratio of (a) the Final 2010 Revenue Amount minus the First Revenue Target, divided by (b) the Second Revenue Target minus the First Revenue Target. 
 (e) Payment of Earn-Out Amount. Within five (5) Business Days after the Final 2010 Revenue Amount has been finally determined
pursuant to Section 2.6(c), the Buyer shall pay to the Seller, as an adjustment to the Purchase Price, an amount of cash equal to the Earn-Out Amount, if any, by wire transfer of immediately available funds to an account designated in writing
by the Seller at least three (3) Business Days prior to such payment. If the amount of any payment to be made pursuant to this Section 2.6(e) is for any reason not made within five (5) Business Days after the Final 2010 Revenue Amount
has been finally determined, such amount shall bear interest from and including the expiration of such five-Business-Day period to (but excluding) the date of payment at a rate per annum equal to the higher of (a) the “prime rate,” as
published in The Wall Street Journal, Eastern Edition, in effect from time to time or (b) the rate of any debt then outstanding owed by the Buyer or the Company to the Seller, or (if less) the maximum rate permitted by applicable Law.
Such interest shall be calculated daily on the basis of a year of three hundred and sixty five (365) days and the actual number of days elapsed, without compounding. 
 (f) Assignment of the Buyer’s Obligations. Notwithstanding anything to the contrary contained in this Agreement (including
Section 11.12 regarding assignment of this Agreement), the Buyer may not assign its obligations under this Section 2.6 in whole or in part without the prior written consent of the Seller which shall not be unreasonably withheld, delayed or
conditioned (and a Buyer Change of Control (as defined below) shall be considered such an assignment). In connection with a Buyer Change of Control, the Seller may require that the successor Person in the Buyer Change of Control unconditionally
assume all obligations of the Buyer under this Section 2.6. Any assignment by the Buyer of its obligations under this Section 2.6 contrary to the provisions of this Section 2.6(f) shall cause the maximum Earn-Out Amount of $12,000,000
to immediately become due and payable by the Buyer to the Seller, which amount shall be paid to the Seller, as an adjustment to the Purchase Price, with interest as provided below, by wire transfer of immediately available funds to an account
designated in writing by the Seller at least three (3) Business Days prior to such payment. The amount of any payment to be made pursuant to this Section 2.6(f) shall bear interest from and including the date of the Buyer Change of Control
to (but excluding) the date of payment at a rate per annum equal to the “prime rate,” as published in The Wall Street Journal, Eastern Edition, in effect from time to time or (if less) the maximum rate permitted by applicable Law.
Such interest 

  

 A-5 

 
shall be calculated daily on the basis of a year of three hundred and sixty five (365) days and the actual number of days elapsed, without compounding.
For purposes of this Section 2.6(f), a “Buyer Change of Control” means a merger, consolidation, reorganization or sale of all or substantially all of the assets (in a single transaction or through a series of related
transactions) of the Buyer, or a change in ownership of 50% or more of the voting capital stock of the Buyer. 
 (g)
Ability to Account. Without limiting the provisions of Section 2.6(f), if the Buyer is at any time acquired by another Person, the Buyer hereby covenants and agrees to preserve the ability to account for the business of the Buyer and its
Subsidiaries as it existed before the date of such acquisition as if it were segregated to the extent reasonably necessary to allow the Buyer and the Seller to accurately calculate the 2010 Revenue Amount and in such a manner as to allow the Buyer
and the Seller to accurately calculate the Earn-Out Amount due, if any, under Section 2.6(d). 
 (h) Future
Operational Control. Nothing in the foregoing shall obligate Buyer, or any successor, to take any action, or refrain from taking action, to maintain, increase or otherwise have any effect on net revenues; Seller hereby expressly acknowledging
that subsequent to the Closing date all actions regarding the conduct of the Company’s business shall be in the sole and absolute discretion of Buyer, or any successor, except as otherwise expressly provided herein. 
 8. Amendment of Assignment Provision. Section 11.12 of the Agreement is hereby amended and restated as follows: 
 Section 11.12 Assignment; Successors. Neither this Agreement nor any of the rights, interests or obligations under this Agreement may be
assigned or delegated, in whole or in part, by operation of law or otherwise, by any party without the prior written consent of the other parties, and any such assignment without such prior written consent shall be null and void; provided,
however, that the Buyer or the Acquisition Sub may assign this Agreement to any Subsidiary of the Buyer without the prior consent of the Seller or the Company (subject to Section 2.6(f)) and; provided further, that the Seller may
assign any of its rights under this Agreement, including the right to receive the Purchase Price, the Cash Purchase Price and/or the Promissory Note, to one or more Affiliates of the Seller without the consent of the Buyer or the Company and;
provided still further, that the Seller may assign its right to receive the Earn-Out Amount to any Person without the consent of the Buyer or the Company and; provided still further, that no assignment shall limit the assignor’s
obligations hereunder. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the parties and their respective successors and assigns. 
 9. Amendment of Fees and Expenses Provision. Section 11.1 of the Agreement is hereby amended and restated as follows:

 Section 11.1 Fees and Expenses. Except as otherwise provided herein, all fees and expenses incurred in connection with or
related to this Agreement and the Ancillary Agreements and the transactions contemplated hereby and thereby shall be paid by the party incurring such fees or expenses, whether or not such transactions are consummated. In the event of termination of
this Agreement, the obligation of each party to pay its own expenses will be subject to any rights of such party arising from a breach of this Agreement by the other. Notwithstanding anything to the contrary contained in this Agreement, the Buyer
shall reimburse to the Seller, at the earlier of the Closing or October 31, 2007, all out-of-pocket expenses incurred by the Seller associated with that certain Fourth Amendment to this Agreement dated as of September 18, 2007, including
without limitation any fees charged by Banc of America Securities LLC in connection therewith. 
 10. Amendment of Seller
Brokers Provision. Section 3.5 of the Agreement is hereby amended and restated as follows: 
 Section 3.5 Brokers. Except
for Banc of America Securities LLC, the fees of which will be paid by the Seller (except as provided in Section 11.1), no broker, finder, financial adviser, intermediary or investment banker is entitled to any brokerage, finder’s or other
fee or commission in connection with the transactions contemplated hereby based upon arrangements made by or on behalf of the Seller. 
  

 A-6 

 11. Amendment of Company Brokers Provision. Section 4.18 of the Agreement is
hereby amended and restated as follows: 
 Section 4.18 Brokers. Except for Banc of America Securities LLC, the fees of which will
be paid by the Seller (except as provided in Section 11.1), no broker, finder, financial advisor, intermediary or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the transactions
contemplated by this Agreement based on arrangements made by or on behalf of the Company. 
 12. Amendment of Termination
Date. Section 10.1(d) of the Agreement is hereby amended such that the date “October 1, 2007” contained therein shall be stricken and replaced with the date “October 22, 2007.” 
 13. Location of Closing. Section 2.2 of the Agreement is hereby amended such that the address of Gibson, Dunn &
Crutcher LLP contained therein shall be stricken and replaced with the following: “3161 Michelson Drive, Irvine, California 92612.” 
 14. No Further Amendments. Except as expressly amended pursuant to Sections 1 through 13 hereof, the remaining provisions of the Agreement shall remain in full force and effect in accordance with their terms,
including without limitation the provisions of Section 10.3 relating to the Buyer Termination Fee. 
 15.
Counterparts; Facsimile Signatures. This Amendment may be executed in two or more counterparts, all of which shall be considered one and the same instrument and shall become effective when one or more counterparts have been signed by each of
the parties hereto and delivered to the other parties hereto. This Amendment may be executed by electronic or facsimile signature, and an electronic or facsimile signature shall constitute an original for all purposes. 
  
 IN WITNESS WHEREOF, the Seller, the Company, the Buyer and the Acquisition Sub have
caused this Amendment to be executed as of the date first written above by their respective officers thereunto duly authorized. 
  

			
	
	 I-FLOW CORPORATION

		
	 By:
	 	 /S/    JAMES DAL PORTO

	Name:	 	James Dal Porto
	Title:	 	Chief Operating Officer
	
	 INFUSYSTEM, INC.

		
	 By:
	 	 /S/    JAMES TALEVICH

	Name:	 	James Talevich
	Title:	 	Chief Financial Officer
	
	 HAPC, INC.

		
	 By:
	 	 /S/    JOHN E. VORIS

	Name:	 	John E. Voris
	Title:	 	Chief Executive Officer
	
	 ICELAND ACQUISITION SUBSIDIARY, INC.

		
	 By:
	 	 /S/    JOHN E. VORIS

	Name:	 	John E. Voris
	Title:	 	Chief Executive Officer

  

 A-7

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