Document:

exhibit_10-2.htm

Exhibit
10.2

    AMENDMENT
TO COMMON STOCK PURCHASE WARRANT

     

    THIS
AMENDMENT NO. 1 TO COMMON STOCK PURCHASE WARRANT (this “Amendment”)
is entered into as of August 11, 2009 by and among Hythiam, Inc., a Delaware
corporation (the “Company”)
and HIGHBRIDGE INTERNATIONAL LLC (“Holder”).  Capitalized
terms used but not defined herein shall have the meanings ascribed to such terms
in the Warrant (as defined below).

     

    WHEREAS,
Company and Holder entered into that certain Securities Purchase Agreement dated
November 6, 2007 (the “Stock
Agreement”), pursuant to which Holder purchased a total of Five Hundred
Forty Thousand One Hundred Eighty-Eight (540,188) Warrant Shares (as defined in
the Stock Agreement);

     

    WHEREAS,
in connection with the Stock Agreement, Company executed that
certain  Common Stock Purchase Warrant dated November 6, 2007 (the
“Warrant”)
granting Holder the right to purchase up to Five Hundred Forty Thousand One
Hundred Eighty-Eight (540,188) shares of common stock of the Company;
and

     

    WHEREAS,
pursuant to Section 5(l)
of the Warrant, each of the parties hereto desire to amend the Warrant as set
forth herein.

     

    NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as
follows:

     

    1. Exercise
Price.  Section 2(b) of the Warrant is amended and restated in
its entirety as follows:

     

    “(b) Exercise
Price.  The exercise price per share of the Common Stock under
this Warrant shall be $0.28,
subject to adjustment as provided hereunder (the ‘Exercise
Price’).”

     

    2. Expiration
Date.  The Termination Date set forth in the preamble of the
Warrant is extended to August 11, 2014.

     

    3. Full
Force and Effect.  Other than as modified in accordance with
the foregoing provisions, the remaining terms of the Amended and Restated
Warrant remain in full force and effect.

     

    4. Counterparts.  This
Amendment may be executed in several counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same
document.

     

    5. Governing
Law.  This Amendment shall be governed by and construed and
interpreted in accordance with the laws of the State of New York without giving
effect to conflict of laws principles thereof.

     

    
      
         

      

      
        1

        
          
 

      

      
         

      

    

    6. Headings.  Headings
of Sections in this Amendment are for reference purposes only and shall not
be deemed to have any substantive effect.

     

     

     

    [Remainder
of page intentionally left blank; Signature page to follow.]

     

    
      
         

      

      
        2

        
          
 

      

      
         

      

    

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

     

    
      	 
      	
              COMPANY:

               

            
	 
      	
              HYTHIAM,
      INC.

               

            
	 
      	
              By:  

            	
              /s/
      TERREN S. PEIZER

            
	 
      	 
      	
              Terren
      S. Peizer

            
	 
      	 
      	
              Chief
      Executive Officer

            
	 
      	 
      
	 
      	 
      
	 
      	
              HOLDER:

               

            
	 
      	
              HIGHBRIDGE
      INTERNATIONAL LLC

               

            
	 
      	
              By:

            	
              Highbridge
      Capital Management, LLC

            
	 
      	
              Its
      Trading Manager

            
	 
      	 
      	 
      
	 
      	
              By:  

            	
              /s/
      MARK J. VANACORE  

            
	 
      	 
      	
              Mark
      J. Vanacore

            
	 
      	 
      	
              Managing
      Director

            

    

     

     

     

    3exhibit_10-3.htm

    
      
Exhibit
10.3

      AMENDMENT
TO AMENDED AND RESTATED WARRANT

       

      TO
PURCHASE COMMON STOCK

       

      THIS
AMENDMENT NO. 1 TO AMENDED AND RESTATED WARRANT TO PURCHASE COMMON STOCK
(this “Amendment”)
is entered into as of August 11, 2009 by and among Hythiam, Inc., a Delaware
corporation (the “Company”)
and HIGHBRIDGE INTERNATIONAL LLC (“Holder”).  Capitalized
terms used but not defined herein shall have the meanings ascribed to such terms
in the Amended and Restated Warrant (as defined below).

       

      WHEREAS,
Company executed that certain Amended and Restated Warrant to Purchase Common
Stock dated January 18, 2007 (the “Amended
and Restated Warrant”) granting Holder the right to purchase up to One
Million Three Hundred Thousand (1,300,000) shares of common stock of the
Company;

       

      WHEREAS,
each of the parties hereto desire to amend the Amended and Restated Warrant as
set forth herein; and

       

      WHEREAS,
pursuant to Section 9
of the Amended and Restated Warrant, the Required Holders by an affirmative vote
approved the amendment to the Amended and Restated Warrant.

       

      NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as
follows:

       

      1. Exercise
Price.  Section 1(b) of the Amended and Restated Warrant is
amended and restated in its entirety as follows:

       

      “(b) Exercise
Price.  For purposes of this Warrant, ‘Exercise
Price’ means $0.28, subject to adjustment as provided herein.”

       

      2. Expiration
Date.  Section 15(j) of the Amended and Restated Warrant is
amended and restated in its entirety as follows:

       

      “(j)
‘Expiration
Date’ means the date sixty (60) months after August 11, 2009 or, if such
date falls on a day other than a Business Day or on which trading does not take
place on the Principal Market (a ‘Holiday’),
the next date that is not a Holiday.”

       

      3. Full
Force and Effect.  Other than as modified in accordance with
the foregoing provisions, the remaining terms of the Amended and Restated
Warrant remain in full force and effect.

       

      4. Counterparts.  This
Amendment may be executed in several counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same
document.

       

      
        
           

        

        
          1

          
            
 

        

        
           

        

      

      5. Governing
Law.  This Amendment shall be governed by and construed and
interpreted in accordance with the laws of the State of New York without giving
effect to conflict of laws principles thereof.

       

      6. Headings.  Headings
of Sections in this Amendment are for reference purposes only and shall not
be deemed to have any substantive effect.

       

       

       

      [Remainder
of page intentionally left blank; Signature page to follow.]

       

      
        
           

        

        
          2

          
            
 

        

        
           

        

      

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

       

      
        	 
      	
                COMPANY:

                 

              
	 
      	
                HYTHIAM,
      INC.

                 

              
	 
      	
                By:  

              	
                /s/
      TERREN S. PEIZER

              
	 
      	 
      	
                Terren
      S. Peizer

              
	 
      	 
      	
                Chief
      Executive Officer

              
	 
      	 
      
	 
      	 
      
	 
      	
                HOLDER:

                 

              
	 
      	
                HIGHBRIDGE
      INTERNATIONAL LLC

                 

              
	 
      	
                By:

              	
                Highbridge
      Capital Management, LLC

              
	 
      	
                Its
      Trading Manager

              
	 
      	 
      	 
      
	 
      	
                By:  

              	
                /s/
      MARK J. VANACORE  

              
	 
      	 
      	
                Mark
      J. Vanacore

              
	 
      	 
      	
                Managing
      Director

              

      

       

       

       

      3Unassociated Document

Exhibit 10.27

 

PROMISSORY NOTE

 

	$25,000.00	Executed at Broward County, Florida
	 	
June 15, 2009

 

FOR VALUE RECEIVED, Le@P Technology, Inc., a Delaware corporation with a principal place of business at 5601 N. Dixie Highway, Suite 411, Fort Lauderdale, Florida  33334 ("Maker"), promises to pay to the order of the M. Lee Pearce Living Trust (the "Payee"), the principal sum of
TWENTY-FIVE THOUSAND DOLLARS AND NO CENTS ($25,000.00), together with interest at the “Prime Rate” (as hereinafter defined), as announced from time to time, due and payable in one lump sum of principal and interest on January 8, 2011.  “Prime Rate” shall mean the prime commercial lending rate set forth in the “Money Rates” section of The Wall Street Journal, as announced from time to time.  Principal and interest shall be payable to the Payee at the following
address:  16 La Gorce Circle, Miami Beach, FL 33141, or such other place as the Payee may designate.

This Promissory Note (this "Note") is issued subject to the following additional terms and conditions:

1.           Type of Payment.  Payment of both principal and interest shall be made in currency of the United States of America which at the time of payment shall
be legal tender for the payment of public and private debts.

2.           Manner of Payment.  Payment shall be made to Payee at the Payee's address set forth above or such other place as Payee may designate in writing.

3.           Interest on Overdue Payments.  From and after the date which is fifteen (15) days after the date upon which any payment of principal hereunder becomes
due and payable, if the same is not timely paid, interest shall be payable on all sums outstanding hereunder at fifteen percent (15%) per annum.

4.           Miscellaneous.

(A)          This Note shall be binding upon the Maker and its successors and assigns.

(B)           If any provision hereof shall be held invalid or unenforceable by any court of competent jurisdiction or as a result of future legislative action, such holding or action shall be strictly construed and shall not affect
the validity or effect of any other provision hereof.

(C)          The validity, interpretation and effect of this Note shall be exclusively governed by, and construed in accordance with, the laws of the State of Florida, excluding the "conflict of laws" rules thereof.

(D)          This Note may not be amended or modified, nor shall any waiver of any provision hereof be effective, except by an instrument in writing executed by the Maker and Payee.

 

18

 

 

(E)           In case suit shall be brought for the collection hereof, or if it is necessary to place the same in the hands of an attorney for collection, the Maker agrees to pay reasonable attorneys’ fees and costs for making
such collections.

IN WITNESS WHEREOF, the Maker has caused this Note to be executed as of the day and year first above written.

	 	
LE@P TECHNOLOGY, INC.
	 
	 	 	 	 
	 	 	 	 
	
 
	
By: 
	/s/ Timothy C. Lincoln	 
	 	 	Name: Timothy C. Lincoln	 
	 	 	Acting Principal Executive Officer	 
	 	 	 	 

 

 

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