Document:

exv10w3

Exhibit 10.3

EXECUTION COPY

STOCKHOLDER AGREEMENT

     This STOCKHOLDER AGREEMENT, dated as of June 14, 2010 (this “Agreement”), is by and
among Chindex International, Inc., a Delaware corporation (the “Company”), Fosun Industrial
Co., Limited, a Hong Kong corporation (the “Investor”), and Shanghai Fosun
Pharmaceutical (Group) Co., Ltd, a Chinese corporation (the “Warrantor”).

W I T N E S S E T H:

     WHEREAS, the Company, the Investor and the Warrantor have entered into a Stock Purchase
Agreement, dated June 14, 2010 (as it may be amended from time to time) (the “Purchase
Agreement”), pursuant to which the Investor is, concurrently herewith, (i) contemplating
purchasing shares of common stock of the Company, par value $0.01 per share (“Common
Stock”), in the open market or otherwise from third parties and (ii) agreeing to acquire
directly from the Company shares of Common Stock (such shares of Common Stock as are acquired by
the Investor and its Affiliates pursuant to the Purchase Agreement being referred to herein as the
“Shares”);

     WHEREAS, the Company’s principal purpose in entering into the Purchase Agreement and this
Agreement is to align the interests of the Investor with that of the Company and then to preserve
such alignment; and

     WHEREAS, the Company, the Investor and the Warrantor desire to set forth their respective
obligations in connection with the ownership, directly or indirectly, at any time and from time to
time, by the Investor, the Warrantor and any of their Affiliates (as defined below) of the Shares
and any other shares (the “Other Shares”) of Common Stock heretofore or hereafter acquired.

     NOW, THEREFORE, in consideration of the respective representations, warranties, covenants,
agreements and conditions herein and intending to be legally bound, the parties hereto, hereby
agree as follows:

ARTICLE I

DEFINITIONS 

     Section 1. 1. Definitions. The following terms, as used herein, have the
following meanings:

     “Affiliate” means, with respect to any Person or group of Persons, a Person that
directly or indirectly through one or more intermediaries, controls, is controlled by, or is under
common control with such Person or group of Persons.

     “Agreement” or “this Agreement” shall have the meaning set forth in the
Preamble, and shall include the Exhibits hereto and all amendments hereto made in accordance with
the provisions hereof.

     “Amended Rights Agreement” shall have the meaning set forth in the Purchase Agreement.

     “Beneficially Own” means, with respect to any securities, having “beneficial
ownership” of such securities for purposes of Rule 13d-3 or 13d-5 under the Exchange Act as in
effect on the date hereof, and “Beneficial Ownership” shall have the corresponding meaning.

 

 

     “Board” means the Board of Directors of the Company.

     “Board Representative” shall have the meaning set forth in Section 2.3(b).

     “Business Day” means any day that is not a Saturday, a Sunday or other day on which
banks are required or authorized by Law to be closed in the city of New York, New York or Beijing,
China. In the event that any action is required or permitted to be taken under this Agreement on or
by a date that is not a Business Day, such action may be taken on or by the Business Day
immediately following such date.

     “Change of Control” shall have the meaning set forth in Section 4.1(g).

     “Charter Documents” shall have the meaning set forth in the Purchase Agreement.

     “Common Stock” shall have the meaning set forth in the Recitals.

     “Company” shall have the meaning set forth in the Preamble.

     “Company Stockholders’ Meeting” shall have the meaning set forth in Section
2.1(b).

     “Confidentiality Agreement” means that certain Confidentiality Agreement, between
Shanghai Fosun Pharmaceutical (Group) Co., Ltd and the Company, dated as of December 16, 2009.

     “control” (including the terms “controlled by” and “under common
control with”) means, the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of a Person, through the ownership of a majority of
the outstanding voting securities, or by otherwise manifesting the power to elect a majority of the
board of directors or similar body governing the affairs of such Person.

     “DGCL” shall have the meaning set forth in Section 2.2(a).

     “Economic Interest Percentage” means, with respect to any Person as of any date, the
percentage equal to (i) the aggregate number of shares of Common Stock Beneficially Owned by such
Person and its Affiliates (treating any convertible securities of the Company that are Beneficially
Owned by such Person or its Affiliates as fully converted into the underlying Common Stock) divided
by (ii) the then-outstanding shares of Common Stock.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     “Governmental Authority” means any supranational, national, federal, state, municipal
or local governmental or quasi-governmental or regulatory authority (including a national
securities exchange or other self-regulatory body), agency, governmental department, court,
commission, board, bureau or other similar entity, domestic or foreign or any arbitrator or
arbitral body.

     “Group” shall have the meaning set forth in Section 3.1(f).

     “Guaranteed Obligations” shall have the meaning set forth in Section 5A.02(f).

     “Warrantor” shall have the meaning set forth in the Preamble.

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     “Guaranty” shall have the meaning set forth in Section 5A.01(b).

     “Initial Closing” shall have the meaning set forth in the Purchase Agreement.

     “Investor” shall have the meaning set forth in the Preamble.

     “Investor Rights Termination Event” shall be deemed to have occurred if, at the close
of any Business Day following the date hereof, any of (i) the Economic Interest Percentage of the
Investor in accordance with the terms hereof is (A) during the period from the date of this
Agreement to the Second Closing, 5% or less or (B) during the period from and after the Second
Closing, 10% or less (following either of which, Investor and Warrantor agree, the Economic
Interest Percentage of the Investor shall never exceed such percentage), (ii) there shall have been
a Change of Control of the Company, or (iii) excluding disability absences due to illness, during
the period commencing on the date hereof and ending on the third anniversary of the Second Closing,
for a period in excess of three months (in order to allow for sabbaticals and similar temporary
absences) two of Roberta Lipson, Lawrence Pemble and Elyse Beth Silverberg shall (in the reasonable
judgment of the Board) not have been employed by, on the board of or otherwise involved in
providing substantive services to the Company or any subsidiary thereof, including without
limitation the JV referred to in the Purchase Agreement), which number two shall be three upon such
third anniversary or if the Second Closing does not occur in accordance with the terms of the Stock
Purchase Agreement; provided however that, notwithstanding the foregoing, an Investor Rights
Termination Event shall occur on the seventh anniversary of the date hereof.

     “Law” means any federal, national, supranational, state, provincial, local or similar
statute, law, ordinance, regulation, rule, code, order, or rule of law (including common law) of
any Governmental Authority, and any judicial or administrative interpretation thereof, including
any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or
with any Governmental Authority.

     “Lockup Date” shall have the meaning set forth in Section 4.1(a).

     “Offer Shares” shall have the meaning set forth in Section 4.2(a).

     “Other Shares” shall have the meaning set forth in the Recitals.

     “Person” means any individual, partnership, firm, corporation, limited liability
company, association, trust, unincorporated organization or other entity, as well as any syndicate
or group that would be deemed to be a Person under Section 13(d)(3) of the Exchange Act.

     “Prohibited Person” means any Person that (i) appears on any list issued by an
applicable Governmental Authority or the United Nations with respect to money laundering, terrorism
financing, drug trafficking, or economic or arms embargoes, or (ii) directly or indirectly, or
together with its Affiliates, owns or operates health care facilities of any kind in any
jurisdiction or otherwise engages or has publicly announced its intention to engage in any material
respect in any business in which the Company, directly or indirectly, engages or has publicly
announced its intention to engage in any jurisdiction worldwide.

     “Purchase Agreement” shall have the meaning set forth in the Recitals.

     “Qualified Nominee” shall have the meaning set forth in Section 2.3(a).

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     “ROFO Option Period” shall have the meaning set forth in Section 4.2(b).

     “ROFO Price” shall have the meaning set forth in Section 4.2(a).

     “SEC” means the United States Securities and Exchange Commission.

     “Second Closing” shall have the meaning set forth in the Purchase Agreement.

     “Securities Act” means the Securities Act of 1933, as amended.

     “Shares” shall have the meaning set forth in the Recitals.

     “Standstill Interest” means: for any date prior to the Initial Closing, 14.9% of the
then-outstanding shares of Common Stock; for any date from the Initial Closing and prior to the
Second Closing, 20% of the then-outstanding shares of Common Stock; and after the Second Closing,
25% of the then-outstanding shares of Common Stock.

     “Subject Shares” shall have the meaning set forth in Section 2.1(c).

     “Subsidiary” means, with respect to any Person, any Affiliate of such Person that is
controlled by such Person.

     “Transaction Agreements” means, collectively, this Agreement and the Purchase
Agreement.

     “Transfer” shall have the meaning set forth in Section 4.1(a).

     “Voting Obligation Termination Event” shall be deemed to have occurred if, at the
close of any Business Day following the date hereof, any of (i) the Economic Interest Percentage of
the Investor in accordance with the terms hereof is 5% or less (following which, Investor and
Warrantor agree, the Economic Interest Percentage of the Investor shall never exceed such
percentage), (ii) there shall have been a Change of Control of the Company, or (iii) excluding
disability and absences due to illness, during the period commencing on the date hereof and ending
on the third anniversary of the Second Closing, for a period in excess of three months (in order to
allow for sabbaticals and similar temporary absences) two of Roberta Lipson, Lawrence Pemble and
Elyse Beth Silverberg (in the reasonable judgment of the Board) shall not have been employed by, on
the board of or otherwise involved in providing substantive services to the Company or any
subsidiary thereof, including without limitation the JV referred to in the Purchase Agreement),
which number two shall be three upon the third anniversary of the date hereof or if the Second
Closing shall not have occurred in accordance with the terms of the Stock Purchase Agreement;
provided however that, notwithstanding the foregoing, a Voting Obligation Termination Event shall
occur on the seventh anniversary of the date hereof.

     “Voting Securities” shall have the meaning set forth in Section 2.1(c).

     Section 1. 2. Interpretation and Rules of Construction. In this Agreement,
except to the extent otherwise provided or that the context otherwise requires:

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          (a) when a reference is made in this Agreement to an Article, Recital, Section or
Exhibit, such reference is to an Article, Recital or Section of, or an Exhibit to, this Agreement
unless otherwise indicated;

          (b) the table of contents and headings for this Agreement are for reference purposes
only and do not affect in any way the meaning or interpretation of this Agreement;

          (c) whenever the words “include,” “includes” or “including” are used in this
Agreement, they are deemed to be followed by the words “without limitation;”

          (d) the words “hereof,” “herein” and “hereunder” and words of similar import, when
used in this Agreement, refer to this Agreement as a whole and not to any particular provision of
this Agreement;

          (e) the definitions of terms contained in this Agreement are applicable to the
singular as well as the plural forms of such terms;

          (f) any Law defined or referred to herein or in any agreement or instrument that is
referred to herein means such Law or statute as from time to time amended, modified or
supplemented, including by succession of comparable successor Laws;

          (g) references to a Person are also to its successors and permitted assigns;

          (h) the use of “or” is not intended to be exclusive unless expressly indicated
otherwise; and

          (i) capitalized terms used and not defined herein shall have the respective meanings
ascribed to them in the Purchase Agreement.

ARTICLE II

VOTING RIGHTS; BOARD REPRESENTATION; DIVIDENDS; 

CORPORATE OPPORTUNITIES 

     Section 2. 1. Voting of Shares.

          (a) Subject to Sections 2.1(b), 2.2 and 3.1, the Investor
shall have full voting rights with respect to the Subject Shares pursuant to the Company’s
certificate of incorporation and by-laws and applicable Law.

          (b) The Investor hereby agrees that, until such time as a Voting Obligation
Termination Event has occurred, at any meeting of the stockholders of the Company, however called,
or at any adjournment or postponement thereof (a “Company Stockholders’ Meeting”), or in
any other circumstances upon which a vote, consent or other approval (including by written consent)
is sought by or from the stockholders of the Company:

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          (i) the Investor shall appear at such Company Stockholders’ Meeting or
otherwise cause all Subject Shares to be counted as present thereat for the purpose of
establishing a quorum, and

          (ii) with respect to any matter upon which a vote, consent or other approval
(including by written consent) is sought by or from the stockholders of the Company (x) for
the election or removal of directors of the Company (or relating to procedures applicable to
the election of directors), (y) relating to equity incentive plans or other employee or
director compensation matters or (z) with respect to or in connection with any proxy or
consent solicitation involving any proposal or offer (including without limitation any
proposal or offer to stockholders of the Company) not agreed to by the Company, for a
merger, consolidation, share exchange, business combination or similar transaction involving
the Company or any of its Subsidiaries or to acquire in any manner, directly or indirectly,
an equity interest in any Voting Securities of, or a substantial portion of the assets of,
the Company or any of its Subsidiaries, then in all of the foregoing instances the Investor
shall vote and cause to be voted all Subject Shares in the manner recommended by the Board
at any such Company Stockholders’ Meeting or under any such other circumstances upon which a
vote, consent or other approval (including by written consent) is sought.

          (c) For purposes of this Agreement: (i) “Subject Shares” means, at any given
time, such Voting Securities as the Investor may directly or indirectly Beneficially Own at such
time, including without limitation all Voting Securities owned, directly or indirectly, by
Affiliates of the Investor; and (ii) “Voting Securities” means securities of the Company
having the power generally to vote on the election of directors and other matters submitted to a
vote of stockholders of the Company. For the avoidance of doubt, Voting Securities includes
without limitation the Shares and the Other Shares.

     Section 2. 2. Irrevocable Proxy.

          (a) As security for the Investor’s and the Warrantor’s obligations under Section
2.1 and the obligations under Section 2.1 of each Person who executes and delivers to
the Company a Joinder Agreement or a Pledgee Comfort Letter, as applicable and as provided herein,
each of the Investor, the Warrantor and each Person who executes and delivers to the Company a
Joinder Agreement or a Pledgee Comfort Letter, as applicable and as provided herein hereby
irrevocably constitutes and appoints the Company as its attorney and proxy in accordance with the
Delaware General Corporation Law (“DGCL”), with full power of substitution and
re-substitution, to cause all shares of Common Stock Beneficially Owned by it and its Affiliates,
regardless of whether such ownership is direct or indirect, to be counted as present at any Company
Stockholders’ Meeting, to vote all shares of Common Stock Beneficially Owned by it and its
Affiliates at any Company Stockholders’ Meeting, and to execute consents in respect of all shares
of Common Stock Beneficially Owned by it and its Affiliates as, and solely in respect of the
matters, provided in Sections 2.1(b)(ii)(x), 2.1(b)(ii)(y) and
2.1(b)(ii)(z). The Investor, the Warrantor and each Person who executes and delivers to the
Company a Joinder Agreement or a Pledgee Comfort Letter, as applicable and as provided herein
hereby revoke all other proxies and powers of attorney with respect to the shares of Common Stock
Beneficially Owned by it and its Affiliates that it or they may have heretofore appointed or
granted, and represents that any proxies heretofore given in respect of all shares of Common Stock
Beneficially Owned by it or its Affiliates, if any, are revocable.

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          (b) Each of the Investor, the Warrantor and each Person who executes and delivers to
the Company a Joinder Agreement or a Pledgee Comfort Letter, as applicable and as provided herein
hereby affirms that the irrevocable proxy set forth in this Section 2.2 is coupled with an
interest and shall remain in effect for the duration of this Agreement, and, except as set forth in
this Section 2.2, is intended to be irrevocable in accordance with the provisions of
Section 212 of the DGCL. If for any reason the proxy granted herein is not irrevocable, then the
Investor, the Warrantor and each Person who executes and delivers to the Company a Joinder
Agreement or a Pledgee Comfort Letter, as applicable and as provided herein agree to vote (and to
cause to be voted) all shares of Common Stock Beneficially Owned by it and its Affiliates in
accordance with Section 2.1 above.

          (c) This irrevocable proxy shall not be terminated by any act of the Investor, of
the Warrantor or of each person who executes and delivers to the Company a Joinder Agreement or a
Pledgee Comfort Letter, as applicable and as provided herein or by operation of Law, except that
this irrevocable proxy shall terminate upon the occurrence of a Voting Obligation Termination
Event.

     Section 2. 3. Board Representation.

          (a) Upon the occurrence of the Second Closing, (i) the Company shall increase the
size of the Board by two directors and (ii) the Board shall fill these vacancies with two persons
designated by the Investor who shall be reasonably acceptable to the Board (including that each
such person shall have had at least five years of private industry experience, generally confirm
the Company’s mission and strategy and qualify as “independent” in accordance with Nasdaq and the
Exchange Act) and shall meet all qualifications required by written policy of the Company,
including, without limitation, the Board, the Nominating and Governance Committee of the Board and
the ethics and compliance program of the Company, in effect from time to time that apply to all
nominees for the Board (a “Qualified Nominee”), all as set forth under “Corporate
Governance” on the Company’s website at www.chindex.com. In addition, the applicable definitions
of “independent” as currently in effect are set forth on Exhibit C attached hereto.

          (b) Following the Second Closing and until the occurrence of an Investor Rights
Termination Event, (i) at each annual meeting of the stockholders of the Company, the Board shall
nominate and recommend for election two Qualified Nominees designated by the Investor to serve as
directors on the Board (each a “Board Representative”) and shall use its reasonable best
efforts to cause such persons to be elected to serve as directors on the Board (it being understood
that such Qualified Nominees shall not be in addition to the persons designated by the Investor and
serving on the Board pursuant to Section 2.3(a) above, and that the Investor’s right to
designate two Qualified Nominees to serve on the Board at any given time shall be limited to two
persons); provided that such efforts will not require the Company to postpone its annual meeting of
stockholders or take extraordinary solicitation efforts not taken with regard to the other nominees
to the Board, including that the Company will not be obligated to pay extraordinary costs with
regard to the election of such Qualified Nominees as directors and (ii) upon the death, disability,
retirement, resignation, removal or other vacancy of a director designated by the Investor, the
Board shall elect as a director to fill the vacancy so created a Qualified Nominee designated by
the Investor to fill such vacancy.

          (c) Each of the Board Representatives, if any, shall be entitled to the same
compensation and same indemnification in connection with his or her role as a director as the other
members of the Board, and shall be entitled to reimbursement for documented, reasonable
out-of-pocket

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expenses incurred in attending meetings of the Board or any committees thereof, to the same
extent as the other members of the Board. The Company shall notify each Board Representative of all
regular and special meetings of the Board and shall notify each Board Representative of all regular
and special meetings of any committee of the Board of which the respective Board Representative is
a member. The Company shall provide each Board Representative with copies of all notices, minutes,
consents and other materials provided to all other members of the Board concurrently as such
materials are provided to the other members.

          (d) Investor acknowledges and agrees that if the Second Closing does not occur (i)
Investor shall not have the right to designate a Qualified Nominee or a Board Representative, (ii)
the Company shall have no obligation under paragraphs (a) — (c) of this Section 2.3 and
(iii) neither the Investor nor any person designated by Investor as provided above in this
Section 2.3 shall have any rights under this Section 2.3.

     Section 2. 4. Dividends. The Investor shall be entitled to full dividends
as a holder of shares of Common Stock as and when declared and paid by the Company in accordance
with the Company’s certificate of incorporation and by-laws and applicable Law.

ARTICLE III

STANDSTILL AND CERTAIN PROHIBITED TRANSACTIONS 

     Section 3. 1. Standstill. From and after the date hereof and until an
Investor Rights Termination Event, the Investor shall not and shall not permit its Affiliates to,
without the prior written consent of the Company set forth in a resolution adopted by the Board, in
its sole discretion:

          (a) acquire, hold, vote or dispose, offer to acquire, hold, vote or dispose, or
agree to acquire, hold, vote or dispose, directly or indirectly, by purchase or otherwise, any
Voting Securities or direct or indirect rights to acquire any Voting Securities of the Company or
any Subsidiary thereof, or of any successor to the Company, or any assets of the Company or any
Subsidiary or division thereof or of any such successor other than as expressly provided herein;

          (b) seek representation on the Board or initiate, propose or solicit any change in
the composition or size of the Board or the number of terms of the directors of the Board;

          (c) initiate, propose or solicit any material change in the business or corporate
structure of the Company or to the Charter Documents or make any public statement with respect
thereto;

          (d) make any statement or proposal, whether written or oral, to the Board, or to any
director, officer or agent of the Company, or make any public announcement or proposal whatsoever
with respect to a merger or other business combination, sale or transfer of assets,
recapitalization, dividend, share repurchase, liquidation or other extraordinary corporate
transaction with the Company or any other transaction which could result in a change of control,
solicit or encourage any other person to make any such statement or proposal, or take any action
which might require the Company to make a public announcement regarding the possibility of any
transaction referred to in this Section 3.1(d) or similar transaction or advise, assist or
encourage any other persons in connection with the foregoing;

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          (e) make, or in any way participate, directly or indirectly, in any “solicitation”
of “proxies” to vote (as such terms are used in the rules of the SEC), or seek to advise, encourage
or influence any Person with respect to the voting of any Voting Securities of the Company,
initiate or propose any shareholder proposal or induce or attempt to induce any other Person to
initiate any shareholder proposal, or execute any written consent with respect to the Company;

          (f) form, join or in any way participate in a “group” (as defined in Section
13(d)(3) of the Exchange Act) (a “Group”), in connection with any of the foregoing;

          (g) tender any shares of Common Stock Beneficially Owned by the Investor or its
Affiliates to a third party which makes or intends to make an unsolicited acquisition proposal to
the Company or provide debt or other financing in connection with such unsolicited proposal;

          (h) call or seek to call any special meeting of the Company’s shareholders for any
reason whatsoever;

          (i) deposit any Voting Securities in a voting trust or subject any Voting Securities
to any arrangement or agreement with respect to the voting of such Voting Securities other than
this Agreement;

          (j) publicly or otherwise request the Company or the Board to amend, modify or waive
any provision of this Agreement;

          (k) make a public request to the Company (or its directors, officers, shareholders,
employees or agents) to take any action in respect of the foregoing matters;

          (l) disclose any intention, plan or arrangement inconsistent with the foregoing; or

          (m) grant any proxy to a third party in respect of any shares of Common Stock
Beneficially Owned by the Investor or its Affiliates, except as provided in Section 2.2
hereof; provided, however, that the Investor shall be permitted to grant a proxy to a third party
who has expressly agreed in writing to be bound by the terms of this Article III in form
and substance satisfactory to the Board in its sole judgment.

     Section 3. 2. Obligation to Divest. If at any time the Investor or any of
its Affiliates or the Company or any of its Affiliates becomes aware that the Investor and its
Affiliates Beneficially Own, in the aggregate, shares of Common Stock representing more than the
Standstill Interest, then the Investor and its Affiliates shall, as soon as is reasonably
practicable, take all action reasonably necessary (including, without limitation, selling Common
Stock on the open market or to the Company or any of its Affiliates) to reduce the number of
shares of Common Stock Beneficially Owned by them to a number that results in the Investor and its
Affiliates (collectively) Beneficially Owning Common Stock representing no more than the Standstill
Interest, and solely to the extent required to comply with this Section 3.2, the Transfer
restrictions set forth in Section 4.1 below shall not apply but such Transfer shall be
subject to the provisions of Section 4.2 without regard to the 5% threshold set forth
therein.

     Section 3. 3. Short Sales. During the period from the date hereof and
through the later of (i) the Lockup Date and (ii) the occurrence of an Investor Rights Termination
Event, the Investor shall not, and shall not permit its Affiliates to, without the prior written
consent of the Company set forth in a resolution

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adopted by the Board, directly or indirectly effect any short sale of the Common Stock
Beneficially Owned by the Investor or its Affiliates.

     Section 3. 4. Right to Top Up Shareholdings.

     (a) Notwithstanding Section 3.1 of this Agreement, until the earlier to occur of the
Second Closing and the third anniversary hereof, in the event the Initial Closing occurs and
Investor (together with its Affiliates) purchases all of the Shares at the Initial Closing and
thereafter the percentage computed by dividing the number of Subject Shares Beneficially Owned by
Investor and its Affiliates (and including without limitation any Subject Shares that have been
pledged or transferred as security) by the total number of outstanding shares of Common Stock of
the Company is reduced to less than 20% (A) solely as the result of any combination of the issuance
of Common Stock by the Company to employees or directors of the Company pursuant to the exercise or
conversion by such persons of compensatory exercisable or convertible securities issued by the
Company after the initial Closing and (B) in any event not in whole or in part as a result of any
Transfer of any Subject Shares by Investor and its Affiliate (including any Transfer by any pledgee
of any Subject Shares), the purchase by Investor (together with its Affiliates) of additional
shares of Common Stock of the Company in the open market in an amount equal to 20% of the shares
issued as contemplated by clause A above shall not be a breach of Section 3.1. Investor
shall give the Company prior written notice of any such purchase of additional shares of Common
Stock. Upon the written request of Investor to the Company, the Company and its Board shall take
all necessary action, if any, in order to render inapplicable any control share acquisition,
business combination, rights agreement (including any distribution under a rights agreement) or
other similar anti-takeover provision under the Company’s Charter Documents, the Amended Rights
Agreement and the DGCL that is applicable to the Investor and its Affiliates as a result of the
Investor and/or its Affiliates exercising their rights to acquire such additional shares of Common
Stock. Such action shall be in addition to any action required to be taken by the Company and its
Board pursuant to Section 5.08 of the Purchase Agreement.

     (b) Notwithstanding Section 3.1 of this Agreement, in the event both the Initial
Closing and the Second Closing occur and Investor (together with its Affiliates) purchases all of
the Shares at the Initial Closing and the Second Closing and thereafter the percentage computed by
dividing the number of Subject Shares Beneficially Owned by Investor and its Affiliates (and
including without limitation any Subject Shares that have been pledged or transferred as security)
by the total number of outstanding shares of Common Stock of the Company is reduced to less than
20% (A) solely as the result of any combination of (i) acts, events or circumstances outside the
control of Investor and its Affiliates (e.g., as a result of dilution resulting from the issuance
by the Company of additional shares of Common Stock) or (ii) the issuance of Common Stock by the
Company to employees or directors of the Company pursuant to the exercise or conversion by such
persons of compensatory exercisable or convertible securities issued by the Company after the
Second Closing and (B) in any event not in whole or in part as a result of any Transfer of any
Subject Shares by Investor and its Affiliate (including any Transfer by any pledgee of any Subject
Shares), the purchase by Investor (together with its Affiliates) of additional shares of Common
Stock of the Company in the open market in such amount as may be necessary to cause the such
percentage to be increased to 20% (but not in excess of 20%) shall not be a breach of Section
3.1. Investor shall give the Company prior written notice of any such purchase of additional
shares of Common Stock. Upon the written request of Investor to the Company, the Company and its
Board shall take all necessary action, if any, in order to render inapplicable any control share
acquisition, business combination, rights agreement (including any distribution under a rights
agreement) or other similar anti-

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takeover provision under the Company’s Charter Documents, the Amended Rights Agreement and the
DGCL that is applicable to the Investor and its Affiliates as a result of the Investor and/or its
Affiliates exercising their rights to acquire such additional shares of Common Stock. Such action
shall be in addition to any action required to be taken by the Company and its Board pursuant to
Section 5.08 of the Purchase Agreement.

ARTICLE IV

TRANSFER 

     Section 4. 1. Transfer of Common Stock.

          (a) Subject to Section 4.1(d), the Investor shall not, and shall cause its
Affiliates not to, directly or indirectly, transfer, sell, hedge, assign, gift, pledge, encumber,
hypothecate, mortgage, exchange or otherwise dispose of (including through the sale or purchase of
options or other derivative instruments with respect to the Common Stock or otherwise) by operation
of Law or otherwise (any such occurrence, a “Transfer”) (other than a Transfer (i)
permitted in accordance with subsection (b), (d) or(f) below or (ii)
required by, and in accordance with, Section 3.2 above), all or any portion of the Subject
Shares, or their economic interest therein, prior to the fifth anniversary of the date hereof (such
date, the “Lockup Date”) without the prior written consent of the Company set forth in a
resolution adopted by the Board.

          (b) Subject to Section 4.1(d), after the Lock-up date, the Investor shall
not, and shall cause its Affiliates not to, Transfer all or any portion of the Subject Shares,
except (i) as permitted by the immediately following sentence, (ii) pursuant to Section 3.2
above, or (iii) pursuant to Section 4.2 below. Notwithstanding the foregoing, following
the first to occur of the first anniversary of the Second Closing and the third anniversary of the
Initial Closing, transfers by Investor and its Affiliates after the first anniversary of the Second
Closing of all or any portion of the Subject Shares pursuant to “brokers’ transactions” as such
term is defined in Rule 144 of the Securities Act, in accordance with the volume limitations in
paragraph (e) of Rule 144 as if such section were applicable and otherwise in compliance with such
Rule shall not violate the restrictions set forth in Section 4.1(a) or this Section
4.1(b)

          (c) Any Transfer pursuant to Section 4.1(b) shall be subject to the
following limitations:

          (i) Without limiting the other provisions of this Article IV, the
Investor shall not, without the prior written consent of the Company set forth in a
resolution adopted by the Board, knowingly dispose or agree to dispose (directly or
indirectly, or pursuant to any series of related transactions intentionally structured to
circumvent the provisions of this Article IV) of all or any portion of its shares of
Common Stock, in one or a series of transactions (other than as described in Section
4.1(b)(i) or (ii) above), to any Person that at the time of the disposition is a
Prohibited Person.

          (ii) The Investor shall not dispose of or agree to dispose of 3% or more of
its shares of Common Stock to a single Person or Group, directly or indirectly, in a single
transaction or a series of related transactions, unless such Person or Persons execute and
deliver to the Company a Joinder Agreement, substantially in the form attached hereto as
Exhibit A, agreeing to

11

 

abide by Article III and Sections 2.1 and 2.2 of this
Agreement; provided, however, that any underwriter, broker-dealer or registered agent that
is registered as a broker-dealer under the Exchange Act and a member firm of the New York
Stock Exchange shall not be considered as a Person or a member of a Group for purposes of
this Section 4.1(c)(ii).

          (d) Notwithstanding the foregoing, the Investor may at any time:

          (i) Transfer shares of Common Stock owned by the Investor to an Affiliate;
provided that prior to any Transfer pursuant to this Section 4.1(d)(i), such
transferee shall have agreed in writing to be bound by the terms of this Agreement pursuant
to documentation reasonably satisfactory to the Company; and provided, further, that no
Transfer pursuant to this Section 4.1(d)(i) shall relieve any transferor from any
liability for damages incurred or suffered by the Company as a result of any breach of this
Agreement by such transferor;

          (ii) Transfer a maximum aggregate number of shares of Common Stock during the
term of this Agreement constituting not more than 1% in the aggregate of the Company’s total
outstanding shares of Common Stock at any given time; provided that such Transfers are made
in the open market pursuant to ordinary brokerage transactions;

          (iii) tender its Subject Shares pursuant to a tender offer for the Common
Stock that has been affirmatively recommended by a majority of the Board; or

          (iv) Transfer its Subject Shares pursuant to a merger that has been
affirmatively recommended or approved by a majority of the Board.

          (e) Notwithstanding the occurrence of the Lockup Date and the second sentence of
paragraph (b), the Company may, by written notice to Investor, designate in any period of 12
consecutive calendar months one or more “black out” periods during which no Subject Shares of
Investor and its Affiliates may be sold without the prior written consent of the Company, which
black out periods may not exceed an aggregate of 180 days during such 12 month period. Investor
shall not, and shall cause its Affiliates not to, directly or indirectly Transfer any of its or
their Subject Shares during any such black out period. The Company may impose stop-transfer
instructions with respect to the Subject Shares until the end of such period. In addition, if
requested by the managing underwriter of an underwritten public offering by the Company of Common
Stock, Investor shall, and shall cause its Affiliates to, agree with such managing underwriter not
to sell or otherwise Transfer any Subject Shares for a period of up to 180 days (as requested by
the managing underwriter) following the effective date of a registration statement with respect to
such public offering.

          (f) Investor may (i) obtain a one-time full-recourse bridge loan from a single
lender/pledgee to fund the purchase of the Shares to be purchased at the Initial Closing, pending
receipt of the necessary governmental approvals to use Investor’s own cash for such purchase, which
approvals Investor covenants to obtain as soon as possible after the Initial Closing; and (ii)
following the Second Closing, obtain a full-recourse bridge loan from lenders or pledgees, each of
which must be a major national or international bank or institutional lender in the United States
or China (including Hong Kong) that ordinarily is in the business of making such loans and
accepting such pledges. In addition, each such loan/pledge shall be subject to the following
conditions: (A) the term of any such pledge shall not exceed 12 months; (B) each such
lender/pledgee shall execute and deliver to the Company for its reliance a

12

 

binding Pledgee Comfort Letter in the form attached hereto as Exhibit B for pledgees;
(C) prior to any such loan and pledge, Investor and such lender/pledgee shall provide the Company
with copies of all proposed agreements and other documents relating to such loan and pledge; (D)
the rights of such lender/pledgee with respect to any such loan and pledge and any related
documentation shall be non-assignable without the Company’s consent; and (E) Investor shall provide
the Company with true and complete copies of all executed agreements and other documents relating
to such short-term bridge loan and pledge and shall advise the Company in writing immediately upon
any default or imminent default under such loan or pledge and the proposed remediation thereof.

          (g) Notwithstanding anything to the contrary herein, the restrictions on Transfer
set forth in this Section 4.1 shall terminate upon a Change of Control. For purposes of
this Agreement, a “Change of Control” shall mean (i) a merger or consolidation approved by
the Company’s stockholders in which securities possessing more than 50% of the total combined
voting power of the Company’s outstanding securities are transferred to a Person or Persons
different from the Persons holding those securities immediately prior to such transaction; (ii) any
stockholder-approved sale, transfer or other disposition of all or substantially all of the
Company’s assets; (iii) the acquisition, directly or indirectly, by any Person or Group (other than
the Company or a Person that directly or indirectly controls, is controlled by or is under common
control with, the Company and other than a Group that includes Investor or any of its Affiliates)
of beneficial ownership (within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934,
as amended) of securities possessing more than 50% of the total combined voting power of the
Company’s outstanding securities pursuant to a tender or exchange offer made directly to the
Company’s stockholders; or (iv) a change in the composition of the Board over a period of 24
consecutive months or less such that a majority of the Board members ceases, by reason of one or
more contested elections for Board membership, to be comprised of individuals who either (A) have
been Board members continuously since the beginning of such period or (B) have been elected or
nominated for election as Board members during such period by at least a majority of the Board
members described in clause (A) who were still in office at the time the Board approved such
election or nomination.

     Section 4. 2. Right of First Offer.

          (a) In the event that the Investor or its Affiliates desires to sell Subject Shares
pursuant to Section 4.1(b) (other than Section 4.1(b)(i) or 4.1(b)(ii)) in
an amount constituting more than 5% of the issued and outstanding shares of Common Stock in a
single or series of related transactions, the Investor shall first offer such Subject Shares for
purchase by the Company by promptly notifying the Company in writing of such offer, setting forth
the number of Subject Shares proposed to be sold (the “Offer Shares”), the terms and
conditions of sale, and the price or method of determining such price (the “ROFO Price”).

          (b) The Company shall have up to a period of thirty (30) days (the “ROFO Option
Period”) after the receipt of such notice within which to notify the Investor in writing that
it wishes to purchase the Offer Shares at the ROFO Price and upon the terms and conditions set
forth in the Investor’s notice. If the Company gives such written notice within the ROFO Option
Period then it shall have forty (40) days after it gives such notice to do all things necessary to
consummate such acquisition of the Offer Shares, including entering into agreements relating to
such acquisition. The Investor shall cooperate with the Company in obtaining all consents and
approvals necessary to consummate the acquisition and shall execute and deliver such customary
agreements as may be reasonably requested by the Company. If the Company receives such consents and
approvals and enters into such agreements as are necessary to

13

 

consummate such acquisition of the Offer Shares, then the Investor and its Affiliates, as
applicable, shall be obligated to sell to the Company, and the Company shall be obligated to
purchase from the Investor and its Affiliates, as applicable, the Offer Shares at the price and on
the terms and conditions set forth in the Investor’s notice.

          (c) If the Company does not give written notice to the Investor within the ROFO
Option Period or notifies the Investor in writing that it does not wish to purchase the Offer
Shares, the Investor shall be free to secure a bona fide offer for the Offer Shares from a third
party and sell the Offer Shares to such third party at a price equal to or greater than the ROFO
Price, provided that (i) such sale to the bona fide third party is consummated within forty-five
(45) days after the expiration of the ROFO Option Period at a price and upon the same terms and
conditions, no more favorable to the third party than were set forth in the Investor’s notice to
the Company (it being agreed by the Investor that if such sale is not consummated within such
45-day period, the Investor must re-commence the procedures provided in this Section 4.2 if
it wishes to sell the Subject Shares), (ii) the Investor notifies the Company in writing of the
name, address, telephone number and fax number of the transferee, along with the names and/or title
of a “contact person” at such transferee, and (iii) the transferee of the Investor and its
Affiliates executes a counterpart copy of this Agreement and thereby agrees prior to the sale, to
be bound by all of the terms and provisions of this Agreement, as though it were the Investor.

     Section 4. 3. Maintenance of Ownership. In the event there is any direct
or indirect transfer, sale, hedge, assignment, gift, pledge, encumbrance, hypothecation, mortgage,
exchange or other disposition of (including through the sale or purchase of options or other
derivative instruments with respect to) the shares or other equity interests in any Affiliate of
Investor or Warrantor that owns any Subject Shares whether by operation of Law or otherwise or any
other transaction, including a merger or consolidation or issuance of additional equity securities,
that would result in such Affiliate ceasing to be an Affiliate of Investor and Warrantor, Investor
and Warrantor shall, as a condition to such transaction, cause all Subject Shares owned or held by
such Affiliate to be transferred to another Person that is a wholly-owned Subsidiary of Investor or
Warrantor and cause such Person to enter into and deliver to the Company for its reliance a Joinder
Agreement in accordance with Section 6.10.

     Section 4. 4. Termination of Article IV. Notwithstanding anything to the
contrary contained herein, this Article IV shall terminate upon an Investor Rights
Termination Event.

ARTICLE V

STOCK CERTIFICATES

     Section 5. 1. Legend and Stop Transfer Order. To assist in effectuating
the provisions of this Agreement and the Purchase Agreement, the Investor on its own behalf and on
behalf of each of its Affiliates hereby consents (i) in addition to any legend contemplated by the
terms of the Purchase Agreement, to the placement, effective immediately, of the legend specified
in Section 5.3 below on all certificates representing ownership of shares of Common Stock
owned of record or Beneficially Owned by the Investor or any of its Affiliates as contemplated
herein or otherwise unless and until such shares are sold, transferred or disposed of in a manner
expressly permitted hereby to a person who is not then affiliated or related in any manner,
directly or indirectly, with the Investor or any of its Affiliates, and (ii) to the entry effective
immediately of stop transfer orders with the transfer agent or agents of the Common Stock against
transfer of such shares except in compliance with the requirements of this Agreement.

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     Section 5. 2. Certificates Delivery. To assist in effectuating the
provisions of this Agreement and the Purchase Agreement, the Investor agrees to deliver and to
cause each of its Affiliates to deliver to the Company simultaneously herewith certificates
representing all shares of Common Stock owned of record or Beneficially Owned by the Investor or
any of its Affiliates as of the date hereof, which shares the Investor hereby represents are all of
the shares of Common Stock disclosed as owned by the Investor and its Affiliates in the Schedule
13G filed by Fosun Industrial Co., Limited with the SEC on November 18, 2009. In addition,
immediately following the acquisition by the Investor or any of its Affiliates of any and all other
shares of Common Stock, the Investor shall and shall cause each such Affiliate to deliver to the
Company certificates representing such other shares. Each such certificate contemplated above
forthwith shall be registered in the name of the Investor or its respective Affiliates owning the
shares represented thereby, it being the intent that all such shares be subject to the terms of
this Agreement and be registered on the stock records of the Company as owned directly in the name
of the Investor and such Affiliates, respectively, and not in “street name.”

     Section 5. 3. Legend Content. The legend to be placed on each certificate
pursuant to Section 5.1 shall read as follows:

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE PROVISIONS OF A
STOCKHOLDERS AGREEMENT DATED AS OF JUNE 14, 2010 AMONG CHINDEX INTERNATIONAL, INC.
AND FOSUN INTERNATIONAL LIMITED AND MAY NOT BE TRANSFERRED EXCEPT IN ACCORDANCE
WITH SUCH AGREEMENT. IN ADDITION TO RESTRICTIONS ON TRANSFER, SUCH AGREEMENT
CONTAINS VOTING, STANDSTILL AND OTHER PROVISIONS. A COPY OF SUCH AGREEMENT IS ON
FILE AT THE OFFICES OF THE CORPORATE SECRETARY OF THE COMPANY.”

ARTICLE V-A

COMPLIANCE AND GUARANTEE AGREEMENT

     As an inducement to the Company to enter into this Agreement, the Warrantor hereby agrees with
the Company as follows:

     Section 5A.01 Compliance and Guaranty.

          (a) The Warrantor shall comply with this Agreement as if the Warrantor were Investor,
including without limitation the voting obligations set forth in Sections 2.1, the
standstill and other provisions set forth in Article III and the transfer and related restrictions
set forth in Article IV.

          (b) The Warrantor hereby unconditionally and irrevocably (i) guarantees the due and punctual
payment and performance when due of the Guaranteed Obligations and (ii) agrees to pay any and all
reasonable expenses (including reasonable legal expenses and reasonable attorneys’ fees) incurred
by the Company in successfully enforcing any rights under this Article V-A (the
“Guaranty”).

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     Section 5A.02 Waiver, Etc.

          (a) The Warrantor waives:

          (i) all notices of the creation, renewal, extension, accrual or amendment of any of the
Guaranteed Obligations and notice or proof of reliance by the Company on this Guaranty or
acceptance of this Guaranty;

          (ii) diligence, presentment, demand for payment, protest and notice of nonpayment or
dishonor and all other notices and demands whatsoever relating to the Guaranteed Obligations
or the requirement that the Company proceed first against the Investor or any other Person
to collect payment or require performance of the Guaranteed Obligations or otherwise exhaust
any right, power or remedy under the Transaction Agreements or any related document or
agreement giving rise to any such Guaranteed Obligations to collect payment or require
performance of the Guaranteed Obligations before proceeding hereunder; and

          (iii) all suretyship defenses including all defenses based upon any statute or rule of
law that provides that the obligation of a surety must be neither larger in amount nor in
other respects more burdensome than that of the principal.

          (b) The Guaranteed Obligations shall conclusively be deemed to have been created, contracted
or incurred in reliance on this Guaranty, and all dealings between the Company and/or its
Affiliates, on the one hand, and the Warrantor and/or the Warrantor’s Affiliates, on the other
hand, in connection with the respective Transaction Agreements and the transactions contemplated
hereby and thereby shall likewise conclusively be presumed to have been had or consummated in
reliance on this Guaranty.

          (c) The Warrantor covenants that this Guaranty shall not be discharged except by complete
performance of the Guaranteed Obligations.

          (d) The obligations of the Warrantor hereunder shall constitute a present and continuing
guarantee of payment and performance and not of collectability only, shall be absolute and
unconditional, shall not be subject to any counterclaim, setoff, deduction or defense the Warrantor
may have against the Company or any other Person, and shall remain in full force and effect until
all Guaranteed Obligations have been satisfied and performed in full, without regard to any event
whatsoever (whether or not the Warrantor shall have any knowledge or notice thereof or shall have
consented thereto), including:

          (i) any amendment or modification of, or supplement to, the Transaction Agreements, any
assignment, transfer or delegation of any of the rights, obligations, duties or covenants of
any party to the Transaction Agreements or this Guaranty, any renewal or extension of time
for the performance of any of the Guaranteed Obligations, or any furnishing or acceptance of
security so furnished or accepted for any of the Guaranteed Obligations;

          (ii) any waiver, consent, extension, forbearance, release or substitution of security
or other action or inaction under or in respect of the Transaction Agreements or this

16

 

Guaranty, or any exercise of, or failure to exercise, any right, remedy or power in
respect hereof or thereof;

          (iii) any bankruptcy, insolvency, marshaling of assets and liabilities, arrangements,
readjustment, composition, receivership, assignment for the benefit of creditors,
liquidation or similar proceedings with respect to the Company, the Investor, the Warrantor
or any of their respective Affiliates;

          (iv) the dissolution, sale or other disposition of all or substantially all of the
assets of the Company, the Investor, the Warrantor or any of their respective Affiliates;

          (v) any default by the Company, the Investor, the Warrantor or any of their respective
Affiliates under, or any invalidity or any unenforceability of, or any misrepresentation by
the Company, the Investor, the Warrantor or any of their respective Affiliates in, or any
irregularity or other defect in, the Transaction Agreements or this Guaranty, or any other
instrument or agreement; or

          (vi) any other event, action or circumstance that would, in the absence of this Section
5A.02(d)(vi), result in the release or discharge of the Warrantor from the performance or
observance of any obligation, covenant or agreement contained in this Guaranty or otherwise
constitute a defense to this Guaranty.

          (e) Any term of this Guaranty to the contrary notwithstanding, if at any time any amount
(constituting a Guaranteed Obligation) paid or payable by the Warrantor or the Investor is
rescinded or must otherwise be restored or returned, whether upon or as a result of the appointment
of a custodian, receiver or trustee or similar officer for the Warrantor or the Investor or any
substantial part of its assets, or the insolvency, bankruptcy or reorganization of the Warrantor or
the Investor or otherwise, the Warrantor’s obligations hereunder with respect to such payment shall
be reinstated as though such payment had been due but not made at such time.

          (f) For purposes of this Guaranty, “Guaranteed Obligations” means, collectively, (i) all
amounts now or hereafter payable by the Investor (or any successor, assignee, transferee or
delegatee of the Investor) under and pursuant to the Transaction Agreements, (ii) each and every
other obligation required to be performed by the Investor under the Transaction Agreements, (iii)
each and every obligation of any Affiliate of the Investor or the Warrantor under or pursuant to
any Joinder Agreement entered into pursuant to this Agreement and (iv) each and every obligation of
the Investor or any Affiliate of the Investor or the Warrantor under or pursuant to any judgment
issued or settlement entered into in the resolution of any dispute under the Transaction
Agreements, whether or not the Warrantor has had notice of any such dispute or related litigation
or arbitration or any such judgment or settlement.

          (g) The Warrantor agrees that it will be bound by any judgment or settlement issued or entered
into in the resolution of any dispute under the Transaction Agreements.

     Section 5A.03 Obligations Independent. The obligations of the Warrantor hereunder are
independent of the Investor and of any Affiliate of the Investor or Warrantor. Separate action or
actions may be brought and prosecuted against the Warrantor, whether or not action is brought
against the

17

 

Investor or any such Affiliate and whether or not the Investor or any such Affiliate be joined
in any such action or actions.

     Section 5A.04 Effect of Assignment. Any term of this Guaranty to the contrary
notwithstanding, in the event that the Investor shall at any time assign or transfer any
Transaction Agreement, or in the event the Investor or any Affiliate of the Investor or the
Warrantor shall assign or delegate any of the Guaranteed Obligations, to any other Person(s), then
this Guaranty shall remain in full force and effect and the Warrantor’s agreements and obligations
herein shall be unaffected by such assignment, transfer or delegation, as the case may be. In such
case, references in this Guaranty to the Investor or such Affiliate shall apply on the same basis
to such assignee(s), transferee(s) or delegate(s) as applicable.

ARTICLE VI

MISCELLANEOUS 

     Section 6. 1. Severability. If any term or other provision of this
Agreement is invalid, illegal or incapable of being enforced by any Law or public policy, all other
terms and provisions of this Agreement shall nevertheless remain in full force and effect for so
long as the economic or legal substance of the transactions contemplated hereby is not affected in
any manner materially adverse to any party hereto. Upon a determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in
good faith to modify this Agreement so as to effect the original intent of the parties as closely
as possible in an enforceable manner in order that the transactions contemplated hereby are
consummated as originally contemplated to the greatest extent possible.

     Section 6. 2. Entire Agreement. This Agreement (including the exhibits
hereto), the Confidentiality Agreement and the Purchase Agreement constitute the entire agreement
of the parties hereto with respect to the subject matter hereof and thereof and supersede all prior
agreements and undertakings, both written and oral, among the Company and the Investor with respect
to the subject matter hereof and thereof. The confidentiality provisions of the
Confidentiality Agreement are incorporated herein by reference and not superseded hereby.

     Section 6. 3. Effect of Termination of Purchase Agreement. In the event that
the closing of the issuance, sale and purchase of any of the Shares contemplated by the Purchase
Agreement is not consummated or the Purchase Agreement is otherwise terminated for any reason as
provided therein, this Agreement shall govern all of the Shares, if any, that had been purchased
pursuant to the Purchase Agreement through such date of termination and all of the Other Shares.
For the avoidance of doubt, in the event of termination of the Purchase Agreement for any reason as
provided therein, the terms of this Agreement shall survive any such termination.

     Section 6. 4. Notices. All notices, requests, claims, demands and other
communications hereunder shall be in writing and shall be given or made (and shall be deemed to
have been duly given or made upon receipt) by delivery in person, by an internationally recognized
overnight courier service, or by facsimile to the respective parties hereto at the following
addresses (or at such other address for a party as shall be specified in a notice given in
accordance with this Section 6.4):

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     If to the Company:

Chindex International, Inc.

4340 East West Highway

Bethesda, MD 20814

Attention: Chief Executive Officer

and Corporate Secretary

Facsimile: 310-215-7777

     If to the Investor or Warrantor:

Fosun Industrial Co., Limited

Room 808

ICBC Tower

3 Garden Road

Hong Kong, China

Facsimile: (86) 021-63325063

     Section 6. 5. Assignment; Effect of Joinder/Pledgee Comfort Letter. (a)
This Agreement may not be assigned (by operation of Law or otherwise) without the express written
consent of the other parties (not to be unreasonably withheld, delayed or conditioned) and, in the
case of an assignment by the Investor or the Warrantor, compliance with the following sentence; and
any such assignment or attempted assignment without such consent shall be void. In the event of
any assignment by the Investor or the Warrantor, the assignee shall agree as a condition to the
effectiveness of such assignment in a written instrument in form and substance satisfactory to the
Company to assume and agree to be bound by the obligations of such party set forth in this
Agreement. No assignment by any party shall relieve such party from any of its obligations
hereunder.

     (b) Upon the execution and delivery to the Company of a Joinder Agreement or a Pledgee
Comfort Letter, as applicable, entered into by any Person pursuant to this Agreement, such Person
will, to the extent provided in the Joinder Agreement or the Pledgee Comfort Letter, as applicable,
become a party to this Agreement.

     Section 6. 6. Compliance. In connection with this Agreement and the
transactions contemplated hereby, each of the parties hereto agrees to comply with, and conduct its
business in conformity with, in all material respects all applicable Law (including applicable Law
of the United States and those countries in which the Company or its Subsidiaries conduct
business).

     Section 6. 7. Amendment. This Agreement may not be amended or modified
except (i) by an instrument in writing signed by, or on behalf of, the Company and the Investor, or
(ii) by a waiver in accordance with Section 6.8.

     Section 6. 8. Waiver. The Company or the Investor may (i) extend the time
for the performance of any of the obligations or other acts of any other party, (ii) waive any
inaccuracies in the representations and warranties of any other party contained herein or in any
document delivered by any other party pursuant hereto, or (iii) waive compliance with any of the
agreements of any other party or conditions to such party’s obligations contained herein. Any such
extension or waiver shall be valid only if set forth in

19

 

an instrument in writing signed by the party that is giving the waiver. Any waiver of any term
or condition shall not be construed as a waiver of any subsequent breach or a subsequent waiver of
the same term or condition, or a waiver of any other term or condition of this Agreement. The
failure of any party hereto to assert any of its rights hereunder shall not constitute a waiver of
any of such rights. All rights and remedies existing under this Agreement are cumulative to, and
not exclusive of, any rights or remedies otherwise available.

     Section 6. 9. No Third-Party Beneficiaries. This Agreement shall be
binding upon and inure solely to the benefit of the parties hereto and their respective successors
and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon
any other Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or
by reason of this Agreement.

     Section 6. 10. Affiliates of Investor and Warrantor. Each of Investor and
Warrantor shall cause each of its Affiliates that from time to time directly or indirectly owns any
Subject Shares to comply with this Agreement as if such Affiliate were Investor, including without
limitation the voting obligations set forth in Sections 2.1 and 2.2, the standstill
and other provisions set forth in Article III and the transfer and related restrictions set
forth in Article IV. Investor and Warrantor shall cause each such Affiliate to execute and
deliver to the Company for its reliance a Joinder Agreement, substantially in the form attached
hereto as Exhibit A, agreeing to abide by and comply with the terms of this Agreement and
granting the irrevocable proxies provided for in Section 2.2.

     Section 6. 11. Governing Law; Jurisdiction; Waiver of Jury Trial.

          (a) This Agreement shall be governed by, and construed in accordance with, the Laws
of the State of Delaware applicable to contracts executed in and to be performed in that State,
without regard to the principles of conflict of Laws of the State of Delaware or any other
jurisdiction.

          (b) Each of the Investor, the Warrantor and the Company irrevocably submits to the
exclusive jurisdiction of any state or federal court located in the State of Delaware, and waives
objection to the venue of any proceeding in such court or that such court provides an inconvenient
forum.

          (c) EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY
IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

     Section 6. 12. No Consequential Damages. No party shall seek or be
entitled to receive any consequential damages, including but not limited to loss of revenue or
income, cost of capital, or loss of business reputation or opportunity, relating to any
misrepresentation or breach of any warranty or covenant set forth in this Agreement; nor shall any
party seek or be entitled to receive punitive damages as to any matter under, relating to or
arising out of the transactions contemplated by this Agreement.

     Section 6. 13. Specific Performance. The parties hereto agree that
irreparable damage would occur if any provision of this Agreement were not performed in accordance
with the terms hereof and that the parties shall be entitled to an injunction or injunctions to
prevent breaches of this Agreement or to enforce specifically the performance of the terms and
provisions hereof in any state or federal court located in the State of New York, in addition to
any other remedy to which they are entitled at Law or in equity.

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     Section 6. 14. Nature of Agreement. With respect to the contractual
liability of the Investor to perform its obligations under this Agreement, with respect to itself
or its property, the Investor agrees that the execution, delivery and performance by it of this
Agreement constitute private and commercial acts done for private and commercial purposes.

     Section 6. 15. Currency. Unless otherwise specified in this Agreement, all
references to currency, monetary values and dollars set forth herein means United States (U.S.)
dollars and all payments hereunder shall be made in United States dollars.

     Section 6. 16. Counterparts. This Agreement may be executed and delivered
(including by facsimile transmission or portable document format (“.pdf”)) in one or more
counterparts, and by the different parties hereto in separate counterparts, each of which when
executed shall be deemed to be an original, but all of which taken together shall constitute one
and the same agreement.

     Section 6. 17. Tax Forms. Upon execution of this Agreement (and at any
other time or times prescribed by applicable Law or as reasonably requested by the Company), the
Investor shall deliver to the Company a properly completed and duly executed IRS Form W-8EXP (or
other applicable IRS Form), together with any other information necessary in order to establish an
exemption from, and/or reduction of, U.S. federal income tax withholding. Except to the extent
otherwise required by applicable Law, all payments to be made by the Company in respect of the
Common Stock shall be made without deduction or withholding for or on account of U.S. federal
income taxes. The Investor shall promptly notify the Company at any time such previously delivered
IRS forms or information are no longer correct or valid.

[Signature page follows]

21

 

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

	 	 	 	 	 
	 	CHINDEX INTERNATIONAL, INC.

 	 
	 	By:  	/s/ Roberta Lipson 	 
	 	 	Name:  	Roberta Lipson 	 
	 	 	Title:  	Chief Executive Officer 	 
	 
	 	FOSUN INDUSTRIAL CO., LIMITED

 	 
	 	By:  	/s/ Chen Qiyu 	 
	 	 	Name:  	Chen Qiyu 	 
	 	 	Title:  	Chairman of the Board 	 
	 
	 	SHANGAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD

 	 
	 	By:  	/s/ Chen Qiyu 	 
	 	 	Name:  	Chen Qiyu 	 
	 	 	Title:  	Chairman of the Board 	 
	 

[Stockholder Agreement Signature Page]

 

 

Exhibit A

Form of Transferee/Acquiror Joinder Agreement

 

 

EXHIBIT A

FORM OF TRANSFEREE/ACQUIROR JOINDER AGREEMENT

     This Joinder Agreement, dated as of [                ], 20[                ], is made
by [insert name of Transferee/Acquiror ],, a [                ] (“Acquiror”), pursuant to the Stockholder Agreement, by and among Chindex
International, Inc., a Delaware corporation (the “Company”), Fosun Industrial Co., Limited,
a Hong Kong corporation (“Investor”), and Shaghai Fosun Pharmaceutical (Group) Co., Ltd, a
Chinese corporation, dated June 14, 2010 (the “Stockholder Agreement”). Capitalized terms
used herein but not defined shall have the meanings ascribed to such terms in the Stockholder
Agreement.

     WHEREAS, Acquiror proposes to acquire either from Investor or an Affiliate of Investor or from
a third party [                ] shares of Common Stock of the Company (the
Transaction”); and

     WHEREAS, pursuant to the Stockholder Agreement, it is a condition to the Transaction that
Acquiror execute a Joinder Agreement agreeing to be bound by the Stockholder Agreement and granting
the irrevocable proxy provided for in Section 2.2 of the Stockholder Agreement.

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged and confessed by Acquiror and intending to be legally bound, Acquiror hereto
agrees for the benefit of the Company and each other party to the Stockholder Agreement as follows:

Acquiror hereby adopts, accepts, and agrees to be bound by and hereby becomes a party to the
Stockholder Agreement and agrees to perform all obligations therein imposed upon the
undersigned in its capacity as a holder of the shares of Common Stock thereunder as if it
were the Investor and hereby grants the irrevocable proxy provided for in Section
2.2 of the Stockholder Agreement.

[Signature page follows]

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Joinder Agreement effective as of
the day and year first above written.

	 	 	 	 	 
	 	[ACQUIROR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AGREED TO:

CHINDEX INTERNATIONAL, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Joinder Agreement Signature Page]

 

 

Exhibit B

Form of Pledgee Comfort Letter

 

 

EXHIBIT B

FORM OF PLEDGEE COMFORT LETTER

     This Pledgee Comfort Letter, dated as of [            ], 20[            ], is
made by [insert name of Pledgee ], a [            ]
(“Pledgee”), pursuant to the Stockholder Agreement, by and among Chindex International,
Inc., a Delaware corporation (the “Company”), Fosun Industrial Co., Limited, a Hong Kong
corporation (“Investor”), and Shanghai Fosun Pharmaceutical (Group) Co., Ltd, a Chinese
corporation, dated June 14, 2010 (the “Stockholder Agreement”). Capitalized terms used
herein but not defined shall have the meanings ascribed to such terms in the Stockholder Agreement.

     WHEREAS, Investor or an Affiliate of Investor desires to pledge [            ] shares
of Common Stock of the Company currently owned by it to Pledgee, and Pledgee desires to accept such
pledge (the “Transaction”); and

     WHEREAS, pursuant to the Stockholder Agreement, it is a condition to the Transaction that
Pledgee execute a Pledgee Comfort Letter agreeing to be bound by the Stockholder Agreement and
granting the irrevocable proxy provided for in Section 2.2 of the Stockholder Agreement in
the event it obtains title to or control over the voting or disposition of the pledged shares.

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged and confessed by Pledgee and intending to be legally bound, Pledgee agrees for
the benefit of the Company, Investor and each other party to the Stockholder Agreement as follows:

1. Pledgee shall comply with the requirements relating to a pledgee set forth in Section
4.1(f) of the Stockholder Agreement.

2. If at any time Pledgee has the right to vote or direct the voting of any pledged shares,
Pledgee shall comply with Sections 2.1 and 3.1 of the Stockholder Agreement,
and in furtherance thereof, Pledgee hereby grants the irrevocable proxy provided for in
Section 2.2 of the Stockholder Agreement with respect to the pledged shares, which
proxy shall be effective at all times that Pledgee has the right to vote or direct the
voting of any pledged shares.

3. If at any time Pledgee sells or otherwise disposes of or causes to be sold or disposed of
any pledged shares in the exercise of its rights as a secured party (other than a sale or
transfer back to Investor), Pledgee shall cause such sale or disposition to be made only
pursuant to “brokers’ transactions” as such term is defined in Rule 144 under the Securities
Act of 1933, as amended.

4. If at any time Pledgee obtains title to any pledged shares, Pledgee agrees to be bound by
and to comply with all the provisions of the Stockholder Agreement, including without
limitation Articles III and IV, as if it were the Investor.

[Signature page follows]

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Pledgee Comfort Letter effective as
of the day and year first above written.

	 	 	 	 	 
	 	[PLEDGEE]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Pledgee Comfort Letter Signature Page]

 

 

Exhibit C

Certain Nominee Requirements

As of the date hereof:

	(1)	 	The definition of “independent director” under the Nasdaq Listing Rules is as follows:
	 
	 	 	“Independent Director” means a person other than an Executive Officer or employee of the
Company or any other individual having a relationship which, in the opinion of the Company’s
board of directors, would interfere with the exercise of independent judgment in carrying
out the responsibilities of a director. For purposes of this rule, “Family Member” means a
person’s spouse, parents, children and siblings, whether by blood, marriage or adoption, or
anyone residing in such person’s home. The following persons shall not be considered
independent:

	 	(A)	 	a director who is, or at any time during the past three years was, employed by
the Company;
	 
	 	(B)	 	a director who accepted or who has a Family Member who accepted any
compensation from the Company in excess of $120,000 during any period of twelve
consecutive months within the three years preceding the determination of independence,
other than the following:

	 	(i)	 	compensation for board or board committee service;

	 	(ii)	 	compensation paid to a Family Member who is an employee (other
than an Executive Officer) of the Company; or

	 	(iii)	 	benefits under a tax-qualified retirement plan, or
non-discretionary compensation.

	 	 	 	Provided, however, that in addition to the requirements contained in this paragraph
(B), audit committee members are also subject to additional, more stringent
requirements under Rule 5605(c)(2).

	 	(C)	 	a director who is a Family Member of an individual who is, or at any time
during the past three years was, employed by the company as an Executive Officer;

	 	(D)	 	a director who is, or has a Family Member who is, a partner in, or a
controlling Shareholder or an Executive Officer of, any organization to which the
Company made, or from which the Company received, payments for property or services in
the current or any of the past three fiscal years that exceed 5% of the recipient’s
consolidated gross revenues for that year, or $200,000, whichever is more, other than
the following:

	 	(i)	 	payments arising solely from investments in the Company’s securities; or

	 	(ii)	 	payments under non-discretionary charitable contribution matching programs.

 

 

	 	(E)	 	a director of the Company who is, or has a Family Member who is, employed as an
Executive Officer of another entity where at any time during the past three years any
of the Executive Officers of the Company serve on the compensation committee of such
other entity; or

	 	(F)	 	a director who is, or has a Family Member who is, a current partner of the
Company’s outside auditor, or was a partner or employee of the Company’s outside
auditor who worked on the Company’s audit at any time during any of the past three
years.

	 	(G)	 	in the case of an investment company, in lieu of paragraphs (A)-(F), a director
who is an “interested person” of the Company as defined in Section 2(a)(19) of the
Investment Company Act of 1940, other than in his or her capacity as a member of the
board of directors or any board committee.

	(2)	 	The definition of “independence” under the Exchange Act is as follows:

	 	b.	 	Required standards. 1. Independence.

	 	i.	 	Each member of the audit committee must be a member of the board of directors
of the listed issuer, and must otherwise be independent; provided that, where a listed
issuer is one of two dual holding companies, those companies may designate one audit
committee for both companies so long as each member of the audit committee is a member
of the board of directors of at least one of such dual holding companies.
	 
	 	ii.	 	Independence requirements for non-investment company issuers. In order to be
considered to be independent for purposes of this paragraph (b)(1), a member of an
audit committee of a listed issuer that is not an investment company may not, other
than in his or her capacity as a member of the audit committee, the board of directors,
or any other board committee:

	 	A.	 	Accept directly or indirectly any consulting, advisory, or other
compensatory fee from the issuer or any subsidiary thereof, provided that,
unless the rules of the national securities exchange or national securities
association provide otherwise, compensatory fees do not include the receipt of
fixed amounts of compensation under a retirement plan (including deferred
compensation) for prior service with the listed issuer (provided that such
compensation is not contingent in any way on continued service); or

	 	B.	 	Be an affiliated person of the issuer or any subsidiary thereof.

	 	iii.	 	Independence requirements for investment company issuers. In order to be
considered to be independent for purposes of this paragraph (b)(1), a member of an
audit committee of a listed issuer that is an investment company may not, other than in
his or her capacity as a member of the audit committee, the board of directors, or any
other board committee:

	 	A.	 	Accept directly or indirectly any consulting, advisory, or other
compensatory fee from the issuer or any subsidiary thereof, provided that,
unless the rules of the national securities exchange or national securities
association provide otherwise,

 

 

	 	 	 	compensatory fees do not include the receipt of fixed amounts of compensation under a
retirement plan (including deferred compensation) for prior service with the
listed issuer (provided that such compensation is not contingent in any way on
continued service); or

	 	B.	 	Be an “interested person” of the issuer as defined in section
2(a)(19) of the Investment Company Act of 1940.

	iv.	 	Exemptions from the independence requirements.

	 	A.	 	For an issuer listing securities pursuant to a registration
statement under section 12 of the Act, or for an issuer that has a registration
statement under the Securities Act of 1933 covering an initial public offering
of securities to be listed by the issuer, where in each case the listed issuer
was not, immediately prior to the effective date of such registration statement,
required to file reports with the Commission pursuant to section 13(a) or 15(d)
of the Act:

	 	1.	 	All but one of the members of the listed issuer’s
audit committee may be exempt from the independence requirements of
paragraph (b)(1)(ii) of this section for 90 days from the date of
effectiveness of such registration statement; and

	 	2.	 	A minority of the members of the listed issuer’s
audit committee may be exempt from the independence requirements of
paragraph (b)(1)(ii) of this section for one year from the date of
effectiveness of such registration statement.

	 	B.	 	An audit committee member that sits on the board of directors of
a listed issuer and an affiliate of the listed issuer is exempt from the
requirements of paragraph (b)(1)(ii)(B) of this section if the member, except
for being a director on each such board of directors, otherwise meets the
independence requirements of paragraph (b)(1)(ii) of this section for each such
entity, including the receipt of only ordinary-course compensation for serving
as a member of the board of directors, audit committee or any other board
committee of each such entity.

	 	C.	 	An employee of a foreign private issuer who is not an executive
officer of the foreign private issuer is exempt from the requirements of
paragraph (b)(1)(ii) of this section if the employee is elected or named to the
board of directors or audit committee of the foreign private issuer pursuant to
the issuer’s governing law or documents, an employee collective bargaining or
similar agreement or other home country legal or listing requirements.

	 	D.	 	An audit committee member of a foreign private issuer may be
exempt from the requirements of paragraph (b)(1)(ii)(B) of this section if that
member meets the following requirements:

 

 

	 	1.	 	The member is an affiliate of the foreign private
issuer or a representative of such an affiliate;

	 	2.	 	The member has only observer status on, and is not
a voting member or the chair of, the audit committee; and

	 	3.	 	Neither the member nor the affiliate is an
executive officer of the foreign private issuer.

	 	E.	 	An audit committee member of a foreign private issuer may be
exempt from the requirements of paragraph (b)(1)(ii)(B) of this section if that
member meets the following requirements:

	 	1.	 	The member is a representative or designee of a
foreign government or foreign governmental entity that is an affiliate of
the foreign private issuer; and

	 	2.	 	The member is not an executive officer of the
foreign private issuer.

	 	F.	 	In addition to paragraphs (b)(1)(iv)(A) through (E) of this
section, the Commission may exempt from the requirements of paragraphs
(b)(1)(ii) or (b)(1)(iii) of this section a particular relationship with respect
to audit committee members, as the Commission determines appropriate in light of
the circumstances.exv10w4

Exhibit 10.4

EXECUTION COPY

TRADEMARK LICENSE AGREEMENT

     This Trademark License Agreement (the “Agreement”) is entered into as of December 31,
2010 (the “Effective Date”), by and between Chindex International, Inc., a Delaware
corporation (“Licensor”), and Chindex Medical Limited, a Hong Kong company limited by
shares with company number 1528489 (“Licensee”). Licensor and Licensee are each herein
referred to herein as a “Party” and collectively referred to as the “Parties”. Any
capitalized term not otherwise defined herein have the meaning ascribed in the Formation Agreement
(as defined herein).

     WHEREAS, (a) Licensor, Licensee, Chindex Medical Holdings (BVI) Limited, a company limited by
shares incorporated and existing under the laws of the British Virgin Islands (“New BVI”),
Fosun Industrial Co., Limited, a company incorporated in Hong Kong (“Fosun”), Ample Up
Limited ( in Chinese), a Hong Kong company limited by shares with company number
1439452 (“FSPV”), and Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ( in Chinese),
a stock company limited by shares listed on the Shanghai Stock Exchange
incorporated and existing under the laws of China with its registered address at Floor 9, No. 510,
Cao Yang Road, Shanghai, PRC (“Fosun Pharma”), have previously entered into a Formation
Agreement, dated December 28, 2010 relating to the formation of a joint venture between certain
Subsidiaries of Licensor and Fosun Pharma (the “Formation Agreement”), and (b) wholly-owned
Subsidiaries of Licensor and Fosun are contemporaneously herewith entering into a certain Joint
Venture Governance and Shareholders Agreement relating to the ownership and governance of Licensee
(the “Shareholders Agreement”); and

     WHEREAS, in connection with the transactions contemplated by the Formation Agreement, Licensor
has agreed to grant to Licensee a license to use the Marks (as defined herein) pursuant to the
terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the mutual covenants, understandings and agreements
hereinafter set forth, the Parties hereby agree as follows:

1. License Grant.

     1.1 License Grant. Subject to the terms and conditions set forth in this Agreement,
Licensor hereby grants to Licensee, and Licensee hereby accepts, a limited, worldwide,
sublicensable (solely as provided herein), non-exclusive, non-transferable, royalty-free (except as
otherwise specifically provided in Section 4.1) right and license to use the Marks solely
in connection with (a) Licensee’s corporate name and (b) any advertising, marketing and/or
promotional activity in connection with the (i) the marketing, distribution and servicing of
medical equipment in the PRC and Hong Kong (except that sales and distribution related activities
in relation to sales and servicing in the PRC and Hong Kong may take place in other jurisdictions)
and (ii) the manufacturing, marketing, sales and distribution of medical devices and medical
equipment and consumables (collectively, the “Business”) and solely during the Term (as
defined herein) subject to the terms and conditions of this Agreement and as specifically approved
by Licensor, except that without the prior written consent of Licensor, which consent may be
granted or withheld by Licensor in its sole discretion, Licensee shall not, and the
foregoing grant shall not include any right or license to, (x) incorporate or affix the Marks
on any

 

 

products developed, manufactured, distributed or sold by or on behalf of Licensee or (y) use
the Marks in connection with any URLs (Uniform Resource Locators) or domain names (including any
corresponding sub-domains and derivations thereof). As used herein, the term “Marks” means
(i) the trademarks, trade names and service marks “Chindex” and the Chindex design/logo, as more
fully identified and described on Exhibit A hereto and (ii) the trade and corporate name
“Chindex”.

     1.2 Right to Sublicense. Subject to the last sentence of this Section 1.2,
Licensee shall have the right to sublicense the rights granted to Licensee pursuant to Section
1.1 to any Subsidiary of which it is the majority-owner, solely as necessary to exercise its
rights hereunder in connection with the Business; provided, however, that (a) any grant by
Licensee of such rights shall automatically terminate upon the occurrence of any event pursuant to
which any applicable sublicensee shall cease to be a wholly-owned Subsidiary of Licensee and (b)
the foregoing right to sublicense shall not relieve or modify any obligations of Licensee under
this Agreement. Each such sublicense shall be subject to and subordinate to this Agreement,
including without limitation, the terms and conditions of Section 4.1, and shall terminate
automatically upon the termination of this Agreement. Notwithstanding anything to the contrary set
forth herein, in the event that Licensee determines, in it sole discretion, to enter into any
sublicense, it shall, prior to execution, provide Licensor with a copy of such proposed sublicense.
Licensee may execute such sublicense at any time following ten (10) days from Licensor’s receipt
of same; provided, however, that if prior to the expiration of such ten (10) day
period Licensor provides Licensee with comments to the proposed sublicense, Licensee shall use
commercially reasonable efforts to revise the proposed sublicense to address Licensor’s comments
prior to execution.

     1.3 Limitations. In no event shall Licensee or any sublicensee use any of the Marks
for any purpose other than in connection with the Business, without the prior written consent of
Licensor, which consent may be granted or withheld by Licensor in its sole discretion.

2. Reservation of Rights. Except for the limited right and license granted to
Licensee pursuant to this Agreement and subject to the applicable obligations and restrictions set
forth herein, nothing shall be construed to restrict, impair, encumber, alter, deprive or adversely
affect the Marks or any of Licensor’s rights or interests therein or any other intellectual
property, brands, information, content, processes, methodologies, products, goods, services,
materials or rights, tangible or intangible, that Licensor may own or control.

3. Covenants, Restrictions, Obligations of Licensee.

     3.1 In order to maintain the high reputation and goodwill associated with the Marks, Licensee
shall: (a) ensure that the business conducted under and in connection with the Marks is of a
quality consistent with industry-accepted standards for the provision of similar goods and
services; (b) conform with the highest ethical standards in the conduct of its business practices
and corporate governance; (c) refrain from engaging in any illegal, deceptive, unfair or unethical
trade practices, (d) refrain from using or exploiting the Marks in any country or territory in
which Licensor is restricted from conducting business, as provided in any written notice from
Licensor that may be given to Licensee from time to time during the Term; (e) observe all
requirements with respect to trademark notices, credits and other forms of attribution as Licensor
may, in its sole discretion, direct and communicate to Licensee in connection with any use of
the

2

 

Marks; and (f) comply with all applicable statutes, laws, rules, regulations, orders,
ordinances or judgments in connection with any use of, or any business conducted under the use of,
the Marks, including registering as an authorized user of the Marks and/or registering this
Agreement in jurisdictions in which such registration is required.

     3.2 All goodwill arising from Licensee’s use of the Marks shall inure to the benefit of
Licensor and Licensee agrees that it shall not: (a) contest, attack or question the validity of,
or assist any individual or entity in contesting, attacking or questioning, the title or any rights
of or claims by Licensor in and to the Marks; (b) directly or indirectly seek for itself or assist
any third party to use, register, record, obtain, acquire or attempt to pursue any rights,
proprietary or otherwise in the Marks; (c) in any way seek to avoid Licensee’s duties or
obligations under this Agreement because of the assertion or allegation by any individual or entity
that the Marks are invalid or by reason of any contest concerning the rights of or claimed by
Licensor; (d) file or prosecute one or more trademark applications in connection with Licensee’s
use or intended use of the Marks or any mark or designation of any kind that is confusingly similar
to or dilutive of the Marks, unless expressly requested to do so in writing by Licensor; (e) adopt,
adapt, use or display any marks, logos, names, brands, distinctive identification or other material
of any kind that is or may be likely to cause confusion to any consumers or otherwise dilute or
adversely affect Licensor’s rights in the Marks; (f) create a combination or composite mark
consisting of the Marks, commingle the Marks with the trademarks of any third party, or use the
Marks in any manner that, directly or indirectly, would dilute, demean, ridicule or otherwise
tarnish the image of the Marks or Licensor; or (g) take any action, directly or indirectly, or fail
to take any action required hereunder, which is or could be construed as detrimental, damaging or
inconsistent with the rights of Licensor in the Marks. For the avoidance of doubt, (i) Licensor
shall have the sole and exclusive right to obtain, hold and renew, in its own name and for its own
benefit, all applicable intellectual property right protections in connection with the Marks and
all applications and registrations therefor; and (ii) Licensee shall be solely responsible for any
and all costs and expenses incurred by Licensor during the Term in connection with the maintenance,
registration, recordation and/or enforcement of the Marks and/or Licensor’s right, title and
interest therein, including all costs and expenses incurred in connection with administrative
proceedings, prosecutions, suits or other actions.

     3.3 Upon request of Licensor made (a) periodically but not more than once per year during the
Term, or (b) at any time in the event that Licensor has a good faith reason to believe that
Licensee may be engaging in any activity which may be in breach of the terms and conditions of
Article 1, Section 3.1 and/or Section 3.2, Licensee shall, at its sole cost
and expense, promptly send to Licensor representative specimens of all uses of the Marks (including
all materials, brochures, advertising, signs or the like bearing the Marks) that Licensee makes or
intends to make pursuant to the terms of this Agreement.

     3.4 Licensee agrees to provide Licensor with prompt written notice of any infringement or
passing off involving the Marks which comes to its attention, and of any action involving the Marks
that is threatened or instituted against Licensee or any third party. If Licensor takes any action
to terminate such improper use or undertakes the defense of any such action, Licensee shall
cooperate with and assist Licensor in such proceedings. It is within Licensor’s sole discretion to
take any action against third party infringement or passing off of the
Marks or to refrain from such action. Further, Licensee shall execute any and all documents

3

 

which Licensor or any of its designees may request in support of any registrations, filings,
maintenance or renewals in connection with the Marks and provide to Licensor and its designees any
and all assistance, information, materials, samples, evidence, testimony and documentation
reasonably requested by Licensor in connection with any administrative proceedings, prosecutions,
suits or other actions regarding the Marks or as otherwise requested to enable Licensor to perfect,
preserve, register, record and enforce its right, title and/or interest in and to the Marks.

     3.5 During the Term and in accordance with the terms and conditions of this Agreement,
Licensee shall make open and commercial use of the Marks in such a manner as to satisfy the use
requirements of each applicable jurisdiction and prevent the loss of rights in the Marks for
failure to use the Marks. Such use shall be of a sufficient nature to protect the Marks from
cancellation by the local trademark offices for non-use in the applicable jurisdiction and from
challenges by third parties claiming abandonment of the Marks for non-use in trademark office or
court proceedings. Notwithstanding the foregoing, except as otherwise required to comply with any
order entered by a court of competent jurisdiction, failure by Licensee to make open and commercial
use of the Marks for any period of six consecutive months shall be deemed a material breach of this
Agreement and shall entitle Licensor, at its option, to terminate this Agreement pursuant to
Section 7.2(f) hereof.

4. Royalties.

     4.1 Calculation of Royalty. In consideration of the rights and licenses granted
herein with respect to use of the Marks by or on behalf of Licensee, solely in the event that
Licensor and its Affiliates own or control, in the aggregate, less than thirty percent (30%) of the
total equity in Licensee, Licensee shall pay to Licensor during the Term an annual royalty (the
“Royalty” or “Royalties”) equal to (a) two percent (2%) of Gross Sales (as such
term is defined below) from the sale of goods manufactured by or for Licensee (and its Subsidiaries
and sublicensees) and (b) one percent (1%) of Gross Sales from the sale of goods distributed by
Licensee (and its Subsidiaries and sublicensees) but not manufactured by or for Licensee (or its
Subsidiaries or sublicensees). For clarity, Gross Sales from the sale of goods distributed by any
Subsidiary shall be included in the computation of the Royalties regardless of whether any such
Subsidiary is party to any sublicense granted under the terms and conditions of Section
1.2. Such Royalties shall accrue from and after the effective date of any transaction or other
occurrence resulting Licensor and its Affiliates owning or controlling less than thirty percent
(30%) of the total equity in Licensee. All Royalty payments, if any, shall be due and payable to
Licensor not later than sixty (60) days following the end of each applicable calendar year during
the Term; provided, however, that, in the event that, during any applicable period
during which Royalties were accrued, Licensee did not realize a Net Profit (as such term is defined
below), Licensee’s obligation to pay such Royalties shall be held in abeyance until the earlier of
(y) sixty (60) days following the end of any subsequent calendar year in which Licensee realizes a
Net Profit or (z) an initial public offering of Licensee. As used herein, the term “Gross
Sales” means all revenue recorded in accordance with GAAP and/or Chinese GAAP (as such terms
are defined in the Formation Agreement) by Licensee and its Subsidiaries and sublicensees during
any applicable period, whether or not Licensee or any such Subsidiary used the Marks in connection
with the products, goods, services or other offerings from which such revenue was derived, but
excluding revenue solely from Excluded Operations (as defined below) but only to

4

 

the extent
the Marks were not used or otherwise exploited in connection with such Excluded Operations. For
clarity, to the extent any Excluded Operations make use of or otherwise exploit any of the Marks,
the revenues from such Excluded Operations shall be included in the computation of the Royalties.
As used herein, the term “Excluded Operations” means the operations conducted by and the
products, goods, services and offerings of the Fosun Contributed Companies (as defined in the
Formation Agreement) as of the Effective Date. As used herein, the term “Net Profit” means
pre-tax income of JVCO and its subsidiaries, exclusive of extraordinary or nonrecurring items of
expense, determined on a consolidated basis in accordance with Chinese GAAP.

     4.2 Royalty Reporting. Following the expiration of each calendar year during the Term
in which any Royalties are accrued pursuant to Section 4.1, Licensee shall submit to
Licensor a report detailing the Royalty amounts that have accrued during such period, if any (each,
a “Royalty Report”). Each Royalty Report shall be sufficient to enable Licensor to
calculate and verify the correctness of the Royalty amounts payable to Licensor pursuant to
Section 4.1.

     4.3 Audit Rights. Licensee shall maintain accurate records sufficient to verify the
accuracy of the Royalty. Licensor shall have the right, at its expense upon reasonable advance
written notice to Licensee and no more than once per calendar year, to examine and audit such
records during Licensee’s normal business hours, solely for the purposes of verifying the
correctness of the Royalty amounts paid under this Agreement. In the event that any such audit
reveals any undisputed under reporting or underpayment to Licensor, then Licensee shall promptly
pay Licensor the incremental undisputed amounts that should have been paid. In the event of a
dispute regarding any alleged under reporting or underpayment to Licensor, Licensee and Licensor
shall use reasonable, good faith efforts to resolve the same. Any disputed amounts shall not
affect payment of undisputed Royalty amounts.

5. DISCLAIMER OF REPRESENTATIONS AND WARRANTIES. THE MARKS ARE LICENSED TO
LICENSEE HEREUNDER “AS IS” AND “AS AVAILABLE”. WITHOUT LIMITING THE GENERALITY OF THE PRECEDING
SENTENCE, LICENSOR MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE MARKS AND/OR LICENSEE’S
USE THEREOF (OR OTHERWISE WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT), INCLUDING, WITHOUT
LIMITATION, AS TO MERCHANTABILITY, NON-INFRINGEMENT, TITLE OR FITNESS FOR ANY PARTICULAR PURPOSE,
AND LICENSOR HEREBY EXPRESSLY DISCLAIMS ALL SUCH REPRESENTATIONS AND/OR WARRANTIES, WHETHER EXPRESS
OR IMPLIED, OR ORAL OR WRITTEN.

6. Indemnification. Licensee, at its own cost and expense, shall at all times
indemnify, defend and hold harmless Licensor, its Affiliates, Subsidiaries, representatives,
employees, and agents (collectively, the “Licensor Indemnitees”) from and against any and
all losses, damages, costs and expenses (including reasonable attorneys’ fees and expenses)
resulting from or arising out of any third party claim, action, suit or proceeding against any
Licensor Indemnitee arising out of or relating to Licensee’s use of the Marks. Licensee shall have
the right to conduct the defense of any such claim, action, suit or proceeding and all negotiations
for its settlement or compromise; provided, however, that (a) no settlement or compromise
that would impose any

5

 

obligation or restriction of any nature whatsoever on, or involve any admission of any nature
whatsoever, by any Licensor Indemnitee may be entered into or agreed to without Licensor’s prior
written approval and (b) Licensor has the right to participate, at its own expense, in the defense
and/or settlement of any such claim or action in order to protect its own interests.

7. Term; Termination; Effect of Termination.

     7.1 Term. This Agreement shall become effective on the Effective Date and shall
continue until terminated pursuant to the terms and conditions of Section 7.2 hereof (the
“Term”).

     7.2 Termination. Licensor may terminate this Agreement, in whole or in part,
effective immediately, without notice or prior opportunity to cure any default by Licensee (except
as set forth in clause (d) herein), if: (a) Licensee is declared or adjudicated bankrupt
or makes a general assignment for the benefit of creditors, institutes proceedings to be adjudged
bankrupt or insolvent or consents to the institution of such proceedings, or admits in writing
inability to pay debts generally as they become due, or a petition is filed against Licensee under
applicable bankruptcy legislation, or a liquidator, trustee in bankruptcy, custodian, receiver,
receiver and manager, or any other officer with similar powers is appointed of or for Licensee; (b)
Licensee assigns, transfers, conveys or subcontracts or attempts to assign, transfer, convey or
subcontract this Agreement or any right or license under this Agreement in violation of the terms
and conditions hereof; (c) FSPV, Licensee, any Subsidiary of Licensee or any Affiliate of FSPV
fails to comply in any material respect with the Minority Rights Provisions (as such term is
defined in the Shareholders Agreement) of the Shareholders Agreement, which non-compliance and
fails to cure any such non-compliance within 30 days after receipt of notice from Licensor
regarding the same; (d) the joint venture provided for in the Shareholders Agreement to be
conducted through Licensee and its Subsidiaries is terminated; (e) Licensee is liquidated or
otherwise undergoes a dissolution and/or (f) Licensee materially breaches any of the covenants,
obligations or restrictions set forth in this Agreement and fails to cure any such breach within 30
days after the receipt of notice from Licensor regarding the same.

     7.3 Effect of Termination. Upon any expiration or termination of the Term, (a) all
rights and licenses granted by Licensor to Licensee herein shall immediately terminate, (b)
Licensee shall discontinue, cease and terminate all use of the Marks; and (c) Licensee shall remove
the Marks or destroy all remaining materials in its and its agents’ possession, custody or control
within or upon which the Marks appear.

8. Miscellaneous.

     8.1 Expenses. Except for any costs expressly assumed by Licensor under this Agreement,
Licensee shall be solely responsible for all costs and expenses relating to the exercise of its
rights and performance of its obligations under this Agreement.

     8.2 Further Assurances. From time to time, without the payment of any additional
consideration except as otherwise set forth in this Agreement, each Party will execute all such
instruments and take all such actions as the other Party, being advised by counsel, shall

6

 

reasonably request in connection with carrying out and effectuating the intent and purpose
hereof and all transactions and things contemplated by this Agreement.

     8.3 Severability. To the fullest extent that they may effectively do so under
applicable Law, the Parties hereto hereby waive any provision of Law which renders any provision of
this Agreement invalid, illegal or unenforceable in any respect. The Parties further agree that
any provision of this Agreement which, notwithstanding the preceding sentence, is rendered or held
invalid, illegal or unenforceable in any respect in any relevant jurisdiction shall be ineffective,
but such ineffectiveness shall be limited as follows: (a) if such provision is rendered or held
invalid, illegal or unenforceable in such jurisdiction only as to a particular Person or Persons or
under any particular circumstance or circumstances, such provision shall be ineffective, but only
in such jurisdiction and only with respect to such particular Person or Persons or under such
particular circumstance or circumstances, as the case may be; (b) without limitation of clause (a),
such provision shall in any event be ineffective only as to such jurisdiction and only to the
extent of such invalidity, illegality or unenforceability, and such invalidity, illegality or
unenforceability in such jurisdiction shall not render invalid, illegal or unenforceable such
provision in any other jurisdiction; and (c) without limitation of clause (a) or (b), such
ineffectiveness shall not render invalid, illegal or unenforceable this Agreement or any of the
remaining provisions hereof. Without limitation of the preceding sentence, (A) it is the intent of
the Parties hereto that, in the event that in any court or arbitral proceeding, such court or
arbitral body determines that any provision of this Agreement is illegal, invalid or unenforceable
in any relevant jurisdiction to any extent, such court or arbitral body shall have the power to,
and shall, (1) modify such provision (including by limiting the Persons against whom, or the
circumstances under which, such provision shall be effective in such jurisdiction) for purposes of
such proceeding to the minimum extent necessary so that such provision, as so modified, may then be
enforced in such proceeding and (2) enforce such provision, as so modified pursuant to clause (1),
in such proceeding and (B) upon any determination that any provision of this Agreement is invalid,
illegal or unenforceable, the Parties hereto shall negotiate in good faith to modify this Agreement
so as to effect the original intent of such parties as closely as possible in a mutually acceptable
manner in order that the transactions contemplated hereby be consummated as originally contemplated
to the greatest extent possible. Nothing in this Section 8.3 is intended to, or shall, (x)
limit the ability of any Party hereto to appeal any court ruling or enforce or seek to vacate or
modify any arbitral award or the effect of any favorable or unfavorable ruling on appeal or (y)
limit the intended effect of Section 8.10 or Section 8.13.

     8.4 Entire Agreement. This Agreement constitutes the entire agreement of the Parties
hereto with respect to the subject matter hereof and thereof and supersedes all prior agreements
and undertakings, both written and oral, between the Parties with respect to the subject matter
hereof.

     8.5 Notices. All notices, requests, claims, demands and other communications
hereunder shall be in writing and shall be given or made (and shall be deemed to have been duly
given or made upon receipt) by delivery in person, by an internationally recognized overnight
courier service, or by facsimile to the respective Parties hereto at the following addresses (or at
such other address for a Party as shall be specified in a notice given in accordance with this
Section 8.5):

7

 

     If to Licensor:

Chindex International, Inc.

4340 East West Highway

Bethesda, MD 20814

Attention: Chief Executive Officer and Corporate Secretary

Facsimile: 310-215-7777
 

With a copy to:
 

Hughes Hubbard & Reed LLP

One Battery Park Plaza

New York, NY 10004

Attention: Gary J. Simon

Facsimile: 212-422-4726

     If to Licensee:

To the registered office of Licensee in Hong Kong
 

With a copy to:
 

Shanghai Fosun Pharmaceutical (Group) Co., Ltd.

No. 2 East Fuxing Road

Shanghai 200010

P.R. China

Attention: Ding Xiaojun

Facsimile: (86) 021 63325080

     8.6 Assignment. Licensee may not assign, transfer, convey or subcontract this
Agreement, or any rights or obligations hereunder, in whole or in part, to any other party without
Licensor’s prior, express written consent, as determined by Licensor in its sole and absolute
discretion, and any attempt to do so shall be null and void ab initio. Licensor reserves to itself
the right, in its sole and absolute discretion, to assign, transfer, convey or subcontract this
Agreement, or any of its rights or obligations hereunder, in whole or in part, to any third party,
without Licensee’s consent, upon notice to Licensee. This Agreement shall be binding upon, and
enforceable by, and shall inure to the benefit of the Parties hereto and their respective
successors and permitted assigns. In the event of any permitted assignment by Licensee, the
assignee shall agree as a condition to the effectiveness of such assignment in a written agreement
in form and substance satisfactory to Licensor (an executed copy of which shall be delivered to
Licensor) to assume and agree to be bound by the obligations of Licensee set forth in this
Agreement.

     8.7 Amendment. This Agreement may not be amended or modified except by an instrument
in writing signed by, or on behalf of, each of the Parties.

     8.8 Waiver. The provisions, terms and covenants of this Agreement may be waived only
by a written instrument executed by the Party hereto waiving compliance. The failure of

8

 

any Party hereto at any time or times to require performance of any provision of this
Agreement shall in no manner affect the right of such Party at a later date to enforce the same.
No waiver by any Party hereto of any breach of any provision, term or covenant contained in this
Agreement, whether by conduct or otherwise, in any one or more instances shall be deemed to be or
construed as a further or continuing waiver of the breach of any other provision, term or covenant
of this Agreement.

     8.9 No Third Party Beneficiaries. Except as set forth in Article 6, this
Agreement is for the sole benefit of the Parties hereto and their respective successors and
permitted assigns, and nothing herein, express or implied, is intended to or shall confer upon any
other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by
reason of this Agreement.

     8.10 Governing Law; Waiver of Jury Trial.

          (a) This Agreement shall be governed by, and construed in accordance with, the Laws
of the State of New York applicable to contracts executed in and to be performed in that State,
without regard to the principles of conflict of Laws of the State of New York or any other
jurisdiction.

          (b) EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY
IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

     8.11 Construction.

          (a) Unless otherwise expressly specified herein, (i) defined terms in the singular
shall also include the plural and vice versa, (ii) the words “hereof”, “herein”, “hereunder” and
other similar words refer to this Agreement as a whole, (iii) Section, Article and Exhibit
references in this Agreement are to Sections and Articles of and Exhibits to this Agreement, and
(iv) words of any gender (masculine, feminine or neuter) mean and include correlative words of the
other genders.

          (b) The captions in this Agreement are for convenience only and shall not in any way
affect the meaning or construction of any provision of this Agreement.

          (c) All references to “days” shall be to calendar days unless Business Days are
specified.

          (d) Unless the context otherwise requires, (i) “or” is not exclusive and (ii)
“including” means “including but not limited to” and “including without limitation”.

          (e) If any date provided for in this Agreement shall fall on a day that is not a
Business Day, the date provided for shall be deemed to refer to the next Business Day.

     8.12 Counterparts. This Agreement may be executed and delivered (including by
facsimile transmission or portable document format (“.pdf”)) in one or more counterparts,
and by

9

 

the different Parties hereto in separate counterparts, each of which when executed shall be
deemed to be an original, but all of which taken together shall constitute one and the same
agreement.

     8.13 Dispute Resolution; Arbitration. Any dispute, controversy or claim arising out
of or relating to this Agreement or the transactions contemplated hereby shall be resolved by
binding arbitration in accordance with Section 8.03 of the Formation Agreement.

     8.14 Relationship of the Parties. No Party hereto is an agent of the other Party
hereto and no Party hereto has any authority to bind any other Party hereto, transact any business
in any other Party’s name or on behalf of any other Party, or make any promises or representations
on behalf of any other Party. Each Party hereto will perform all of its respective obligations
under this Agreement as an independent contractor, and no joint venture, partnership or other
similar relationship shall be created or implied by this Agreement

     8.15 Survival. Articles 2 through (and including) this Article 8 (but
not, for the avoidance of doubt, Article 1) shall survive (indefinitely) the cancellation,
expiration or termination of this Agreement or of the Term.

     8.16 Specific Performance. The Parties hereto acknowledges that Licensor would not
have an adequate remedy at law for money damages in the event that any of the covenants or
agreements set forth in this Agreement were not performed or threatened to not being performed by
Licensee in accordance with their terms and, therefore, Licensee agrees that Licensor shall be
entitled to specific performance, injunctive and other equitable relief in addition to any other
remedy to which it may be entitled at law or in equity (without the necessity of proving the
inadequacy as a remedy of money damages or the posting of a bond).

     8.17 Absence of Presumption. With regard to each and every term and condition of this
Agreement and any and all agreements and instruments subject to the terms hereof, the Parties
hereto understand and agree that the same have or has been mutually negotiated, prepared and
drafted, and if at any time the Parties hereto (or any court or arbitral tribunal) desire or are
required to interpret or construe any such term or condition or any agreement or instrument subject
hereto, no consideration will be given to the issue of which Party hereto actually prepared,
drafted or requested any term or condition of this Agreement or any agreement or instrument subject
hereto.

[Signature page follows]

10

 

     IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the Effective Date.

	 	 	 	 	 	 	 	 

	CHINDEX INTERNATIONAL, INC.

	 	CHINDEX MEDICAL LIMITED
	 
	 	 
	By: 	/s/ Lawrence Pemble

	 	By: 	/s/ Lawrence Pemble

	 

	 	 
	 	Name: 	Lawrence Pemble 

	 	 	Name: 	Lawrence Pemble

	 	Title: 	 Chief Financial Officer

	 	 	 Title: 	 Director

[Trademark License Agreement Signature Page]

 

 

EXHIBIT A

MARKS

     CHINDEX

     

A-1

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