Document:

EX-10.7

Exhibit 10.7

AGREEMENT AND PLAN OF MERGER

     This Agreement and Plan of Merger is made and entered into this ___day of                     , 2009 by
and among Emdeon Inc., a Delaware corporation (“Emdeon”), EBS Holdco II, LLC, a Delaware
limited liability company (“Sub 2”), and H&F Harrington, Inc., a Delaware corporation
(“Harrington” and, together with Sub 2, the “Constituent Entities”).

W I T N E S S E T H:

     WHEREAS, the Board of Directors of Emdeon (on behalf of Emdeon in its own capacity and in its
capacity as the sole member of Sub 2) and the Board of Directors of Harrington each deem it
advisable and in the best interests of the Constituent Entities and their respective equityholders
that Harrington merge with and into Sub 2 under and pursuant to the provisions of the General
Corporation Law of the State of Delaware (the “DGCL”) and the Delaware Limited Liability
Company Act (the “DLLCA”).

     NOW, THEREFORE, in consideration of the mutual agreements contained herein and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

ARTICLE I

THE MERGER

     Section 1.1 The Merger. Upon the terms and subject to the conditions set forth in this Agreement, at the Effective Time
(as defined in Section 1.2) Harrington will be merged (the “Merger”) with and into Sub 2 in
accordance with the provisions of Section 264 of the DGCL and Section 18-209 of the DLLCA.
Following the Merger, Sub 2 will continue as the surviving entity (the “Surviving Entity”)
and the separate existence of Harrington shall cease.

     Section 1.2 Effective Time. The Merger will be consummated on the Closing Date (as defined in Section 2.1) by the filing of
a certificate of merger substantially in the form of Exhibit A (the “Certificate of
Merger”) with the Secretary of State of the State of Delaware in accordance with Section 264 of
the DGCL and Section 18-209 of the DLLCA. The time the Merger becomes effective in accordance with
Section 103 of the DGCL and Section 18-209(d) of the DLLCA is referred to in this Agreement as the
“Effective Time.”

     Section 1.3 Effects of the Merger. The Merger will have the effects set forth in Section 259 (as incorporated by Section 264(e) of
the DGCL) and Section 18-209(g) of the DLLCA. Without limiting the generality of the foregoing, as
of the Effective Time, all properties, rights, privileges, powers and franchises of Harrington will
vest in Sub 2, as the Surviving Entity, and all debts, liabilities and duties of Harrington will
become debts, liabilities and duties of Sub 2, as the Surviving Entity.

 

 

     Section 1.4 Certificate of Formation and Limited Liability Company Agreement.

          (a) The Certificate of Formation of Sub 2 as in effect immediately preceding the Effective
Time shall remain unchanged as a result of the Merger and shall continue as the Certificate of
Formation of the Surviving Entity following the Merger.

          (b) The Limited Liability Company Agreement of Sub 2 as in effect immediately preceding the
Effective Time shall remain unchanged as a result of the Merger and shall continue as the Limited
Liability Company Agreement of the Surviving Entity following the Merger.

     Section 1.5 Officers. The officers of Sub 2 at the Effective Time, if any, shall continue as the officers of the
Surviving Entity, and will hold office from the Effective Time until their respective successors
are duly elected or appointed and qualified in the manner provided in the Limited Liability Company
Agreement of the Surviving Entity or as otherwise provided by law.

     Section 1.6 Conversion of Interests. At the Effective Time, each of the following transactions shall be deemed to occur
simultaneously:

          (a) The limited liability company interests in Sub 2 outstanding immediately prior to the
Effective Time (100% of which is held by Emdeon) shall, by virtue of the Merger and without any
action on the part of the holder thereof, be converted into and become limited liability company
interests in the Surviving Entity.

          (b) Subject to Section 1.7, each share of Common Stock of Harrington (“Harrington Common
Stock”) outstanding immediately prior to the Effective Time shall, by virtue of the Merger and
without any action on the part of the holder thereof, be converted
into and become ______ shares
of Class A Common Stock, par value $0.00001 per share, of Emdeon (“Emdeon Class A Stock”).
The sole stockholder of Harrington (the “Harrington
Stockholder”) shall receive, along
with the Emdeon Class A Stock, the rights to receive payments in respect of certain cash
tax savings of Emdeon that are the subject of the Tax Receivable Agreement (Reorganizations)
to be entered into by and among Emdeon, H&F ITR Holdco, L.P., GA ITR
Holdco, L.P. and GA-H&F ITR Holdco, L.P., and that relate to Harrington and transactions
entered into by the Harrington Stockholder.

          (c) The parties acknowledge that Emdeon is issuing the Emdeon Class A Stock to the Harrington Stockholder pursuant to Section 1.6(b) in
reliance upon the representations given by the Harrington Stockholder in Section 3.3 of the
Reorganization Agreement, dated as of                     , 2009, by and among Emdeon, the Harrington
Stockholder and the other persons party thereto (the “Reorganization Agreement”).

     Section 1.7 No Fractional Shares. Notwithstanding anything to the contrary in Section 1.6, no fractional shares of Emdeon Class A
Stock will be issued. If the number of shares of Emdeon Class A Stock to be received by the
Harrington Stockholder is not a whole number, then the number of shares of Emdeon Class A Stock
that the Harrington Stockholder shall be entitled to receive pursuant to this Agreement shall be
rounded up or down to the nearest whole share.

2

 

     Section 1.8 Harrington Representations. Harrington hereby makes the following representations and warranties:

          (a) Harrington has delivered to Emdeon and Sub 2 a true and complete copy of its certificate
of incorporation and bylaws, each as in effect on the date hereof.

          (b) The authorized capital stock of Harrington consists solely of ___shares of
Harrington Common Stock.

          (c) As of the date hereof (and as of immediately prior to the Effective Time), (i) ___
shares of Harrington Common Stock are issued and outstanding and (ii) except as provided in the
foregoing clause (i), no other shares of any capital stock of Harrington, or securities convertible
or exchangeable into or exercisable for any shares of capital stock of Harrington, are issued,
reserved for issuance or outstanding.

          (d) Other than its investment in Hellman & Friedman Investors AIV I, L.P. and EBS Master LLC
and the transactions contemplated by the Reorganization Agreement, Harrington (i) has not conducted
any business since its formation and (ii) has no indebtedness or other liabilities.

          (e) All shares of Harrington Common Stock have been duly authorized and validly issued, are
fully paid and non-assessable and are not subject to any pre-emptive rights.

     Section 1.9 Sub 2 Representations. Sub 2 hereby represents and warrants that it has no assets and has not conducted any business
since its formation other than in connection with the transactions contemplated by the
Reorganization Agreement.

     Section 1.10 Emdeon Representations. Emdeon hereby represents and warrants that the Emdeon Class A Stock to be issued in accordance
with Section 1.6(b) will be duly authorized by all necessary corporate action on the part of Emdeon
and, when issued in accordance with the terms hereof, will be validly issued, fully paid and
non-assessable.

     Section 1.11 Tax Matters. Emdeon and the Constituent Entities intend for and will use all reasonable best efforts to
cause the Merger to qualify as a reorganization under Section 368(a) of the Internal Revenue Code
of 1986, as amended.

ARTICLE II

CLOSING

     Section 2.1 The Closing. Promptly following the execution hereof, each of the Constituent Entities shall deliver to the
other evidence of the adoption of this Agreement, and the approval of the Merger, by the requisite
vote of its members and stockholders, as applicable. Subject to such delivery, the consummation of
the Merger

3

 

(the “Closing”) will take place at the offices of Paul, Weiss, Rifkind, Wharton & Garrison
LLP, 1285 Avenue of the Americas, New York, New York 10019, on a date to be mutually agreed upon by
the parties (the “Closing Date”).

     Section 2.2 Closing Date Events. At the Closing, the Constituent Entities shall cause the Certificate of Merger to be filed as
provided in Section 1.2.

ARTICLE III

MISCELLANEOUS

     Section 3.1 Counterparts. This Agreement may be executed in one or more counterparts (which may be delivered by facsimile
or electronic transmission), all of which shall be considered one and the same agreement, and shall
become effective when one or more such counterparts have been signed by each of Emdeon, Sub 2 and
Harrington and delivered to the other parties hereto.

     Section 3.2 Termination. Notwithstanding anything herein to the contrary, this Agreement and the Merger may be terminated
or abandoned by agreement of each of Emdeon, Sub 2 and Harrington at any time prior to the
Effective Time.

     Section 3.3 Further Assurances. If at any time the Surviving Entity shall consider or be advised that any further assignment or
assurances in law are necessary or desirable to vest in the Surviving Entity the title to any
property or rights of the Constituent Entities, the members and officers of the Constituent
Entities shall grant the members and officers of the Surviving Entity a limited power of attorney
to execute and make all such proper assignments and assurances in law and to do all things
necessary and proper to thus vest such property or rights in the Surviving Entity, and otherwise to
carry out the purposes of this Agreement.

     Section 3.4 Governing Law. This Agreement and any disputes arising under or related thereto shall be governed by and
construed in accordance with the internal laws of the State of Delaware applicable to agreements
made and to be performed entirely within such State, without regard to the conflicts of law
principles of such State.

4

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement and Plan of Merger to be
duly executed as of the date first written above.

	 	 	 	 	 
	 	EMDEON INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	EBS HOLDCO II, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	H&F HARRINGTON INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Agreement and Plan of Merger]

 

 

EXHIBIT A

CERTIFICATE OF MERGER

OF

H&F HARRINGTON INC.

(a Delaware corporation)

INTO

EBS HOLDCO II, LLC

(a Delaware limited liability company)

     Pursuant to the provisions of Section 18-209 of the Delaware Limited Liability Company Act
(the “Act”) and Section 264 of the Delaware General Corporation Law (the “DGCL”),
the undersigned DO HEREBY CERTIFY THAT:

	1.	 	The name and jurisdiction of formation or organization of the entities that are to merge (the
“Constituent Entities”) are H&F Harrington Inc., a Delaware corporation, and EBS
Holdco II, LLC, a Delaware limited liability company.
	 
	2.	 	An Agreement and Plan of Merger (the “Merger Agreement”) has been approved, adopted,
certified, executed and acknowledged by each of the Constituent Entities in accordance with
Section 18-209 of the Act and Section 264 of the DGCL.
	 
	3.	 	The name of the surviving entity is EBS Holdco II, LLC (the “Surviving Entity”).
	 
	4.	 	The executed Merger Agreement is on file at the principal place of business of the Surviving
Entity, the address of which is 3055 Lebanon Pike, Suite 1000, Nashville, Tennessee 37214.
	 
	5.	 	A copy of the Merger Agreement will be furnished by the Surviving Entity, on request and
without cost, to any member of either of the Constituent Entities.

 

 

     IN WITNESS WHEREOF, this certificate has been executed as of this ___day of ___, 2009 by
the undersigned.

	 	 	 	 	 
	 	H&F HARRINGTON INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	EBS HOLDCO II, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Certificate of Merger]EX-10.9

Exhibit 10.9

REORGANIZATION AGREEMENT

Dated as of                     , 2009

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I DEFINITIONS
	 	 	2	 
	1.1 Certain Defined Terms
	 	 	2	 
	1.2 Other Definitional Provisions
	 	 	5	 
	 
	ARTICLE II THE REORGANIZATION
	 	 	5	 
	2.1 Transactions
	 	 	5	 
	2.2 Consent to Reorganization Transactions
	 	 	10	 
	2.3 No Liabilities in Event of Termination; Certain Covenants
	 	 	10	 
	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES
	 	 	11	 
	3.1 Representations and Warranties
	 	 	11	 
	3.2 Additional Representations by the GA EBS II Equityholders and the ERX Members
	 	 	12	 
	3.3 Additional Representations by Harrington AIV and the H&F Subscribing Parties
	 	 	12	 
	3.4 Additional Representations by the Company
	 	 	13	 
	 
	ARTICLE IV MISCELLANEOUS
	 	 	15	 
	4.1 Amendments and Waivers
	 	 	15	 
	4.2 Successors, Assigns and Transferees
	 	 	15	 
	4.3 Notices
	 	 	15	 
	4.4 Further Assurances
	 	 	17	 
	4.5 Entire Agreement
	 	 	17	 
	4.6 Governing Law; Jurisdiction; Waiver of Jury Trial
	 	 	17	 
	4.7 Severability
	 	 	17	 
	4.8 Enforcement
	 	 	17	 
	4.9 Titles and Subtitles
	 	 	18	 
	4.10 Counterparts; Facsimile Signatures
	 	 	18	 
	4.11 Expenses
	 	 	18	 

Schedules:

	 	 	 
	Schedule I

	 	Management Members
	Schedule II

	 	Reorganization Documents
	Schedule III

	 	H&F Subscribing Parties
	Schedule IV

	 	ERX Members
	Schedule V

	 	Pre-Reorganization Company Stockholders

(i)

 

Exhibits:

	 	 	 
	Exhibit A

	 	Amended and Restated Certificate of Incorporation
	Exhibit B

	 	Amended and Restated Bylaws of the Company
	Exhibit C

	 	EBS Acquisition Merger Agreement
	Exhibit D

	 	Harrington Merger Agreement
	Exhibit E

	 	Amendment No. 1 to Fifth Amended and Restated EBS LLC Agreement
	Exhibit F

	 	Stockholders Agreement
	Exhibit G

	 	Investors Tax Receivable Agreement (Reorganizations)
	Exhibit H

	 	Investors Tax Receivable Agreement (Exchanges)
	Exhibit I

	 	Management Tax Receivable Agreement
	Exhibit J

	 	Amendment No. 2 to the Fifth Amended and Restated EBS LLC Agreement
	Exhibit K

	 	Common Stock Subscription and EBS Unit Vesting Agreement
	Exhibit L

	 	Sixth Amended and Restated LLC Agreement of EBS Master

(ii)

 

REORGANIZATION AGREEMENT

          REORGANIZATION AGREEMENT, dated as of                     , 2009, by and among Emdeon Inc., a Delaware
corporation (the “Company”), EBS Acquisition II, LLC, a Delaware limited liability company
(“EBS Acquisition II”), Hellman & Friedman Capital Associates VI, L.P., a Delaware limited
partnership (“H&F Capital Associates”), Hellman & Friedman Capital Executives VI, L.P., a
Delaware limited partnership (“H&F Capital Executives”), HFCP VI Domestic AIV, L.P., a
Delaware limited partnership (“HFCP Domestic”), H&F Harrington AIV I, L.P., a Delaware
limited partnership (“Harrington LP”), Hellman & Friedman Investors VI, L.P., a Delaware
limited partnership (“H&F GP”), H&F Harrington Inc., a Delaware corporation
(“Harrington Inc.”), H&F Harrington AIV II, L.P., a Delaware limited partnership
(“Harrington AIV”), the ERX Members of EBS Master LLC set forth on Schedule IV hereto (the
“ERX Members”), EBS Holdco I, LLC, a Delaware limited liability company (“Sub 1”),
EBS Holdco II, LLC, a Delaware limited liability company (“Sub 2”), EBS Executive Incentive
Plan LLC, a Delaware limited liability company (the “Plan Member”), and EBS Master LLC, a
Delaware limited liability company (“EBS Master”).

RECITALS

          WHEREAS, the Board of Directors of the Company (the “Board”) has determined to effect
an underwritten initial public offering (the “IPO”) of the Company’s Class A Common Stock,
par value $0.00001 per share;

          WHEREAS, the Company, the Pre-Reorganization HF Members (as defined below), the ERX Members
and EBS Acquisition II collectively own 100% of the outstanding equity interests in EBS Master
(without giving effect to the Grant Units (as defined below) held by the Plan Member);

          WHEREAS, the Board, the Pre-Reorganization HF Members, the ERX Members and EBS Acquisition II
have each determined that it is advisable and in the best interests of EBS Master and its
equityholders to effect the Reorganization Transactions (as defined below) and the IPO; and

          WHEREAS, in connection with the consummation of the Reorganization Transactions and the IPO,
the applicable parties hereto intend to enter into the Reorganization Documents (as defined below).

          NOW, THEREFORE, in consideration of the foregoing recitals and of the mutual promises
hereinafter set forth, the parties hereto hereby agree as follows:

 

 

ARTICLE I

DEFINITIONS

          1.1 Certain Defined Terms. As used herein, the following terms shall have the
following meanings:

          “Additional IPO Closing” means any additional closing of the sale of Class A Common
Stock in the IPO pursuant to the exercise of the underwriters’ over-allotment option, which closing
may occur on the same date and time as the IPO Closing.

          “Amended and Restated Certificate of Incorporation” has the meaning set forth in
Section 2.1(a)(i).

          “Board” has the meaning set forth in the recitals of this Agreement.

          “Class A Common Stock” shall mean Class A Common Stock, par value $0.00001 per share,
of the Company, having the rights set forth in the Amended and Restated Certificate of
Incorporation.

          “Class B Common Stock” shall mean Class B Common Stock, par value $0.00001 per share,
of the Company, having the rights set forth in the Amended and Restated Certificate of
Incorporation.

          “Common Stock” means, collectively, the Class A Common Stock and Class B Common Stock.

          “Company” has the meaning set forth in the preamble of this Agreement.

          “EBS Acquisition II” has the meaning set forth in the preamble to this Agreement.

          “EBS Acquisition Merger Agreement” has the meaning set forth in Section 2.1(a)(iv).

          “EBS Executive Equity Incentive Plan” means the Amended and Restated EBS Executive
Equity Incentive Plan of EBS Master.

          “EBS Incentive Plan” means the Amended and Restated EBS Incentive Plan of EBS Master.

          “EBS Master” has the meaning set forth in the preamble to this Agreement.

          “EBS Master Management Incentive Plans” means the EBS Executive Equity Incentive Plan
and the EBS Incentive Plan.

          “EBS Units” has the meaning set forth in Section 2.1(a)(vii).

2

 

          “ERX Class B Shares” has the meaning set forth in Section 2.1(a)(ix).

          “ERX Members” has the meaning set forth in the preamble to this Agreement.

          “GA EBS II Equityholders” means, collectively, General Atlantic Partners 84, L.P., a
Delaware limited partnership, GAP-W, LLC, GapStar, LLC, GAPCO GmbH & Co. KG, GAP Coinvestments CDA,
L.P., GAP Coinvestments III, LLC, and GAP Coinvestments IV, LLC.

          “GA Parties” means, collectively, the GA EBS II Equityholders and General Atlantic
Partners 83, L.P., a Delaware limited partnership (“GAP 83”).

          “Grant Units” shall mean, collectively, the Grant A Units, Grant B Units, Grant C
Units and Grant D Units of EBS Master that have been issued directly to the Plan Member on or prior
to the date hereof.

          “H&F Capital Associates” has the meaning set forth in the preamble to this Agreement.

          “H&F Capital Executives” has the meaning set forth in the preamble to this Agreement.

          “H&F Class B Shares” has the meaning set forth in Section 2.1(a)(vii).

          “H&F GP” has the meaning set forth in the preamble to this Agreement.

          “H&F Subscribing Party” has the meaning set forth in Section 2.1(a)(vii).

          “Harrington AIV” has the meaning set forth in the preamble to this Agreement.

          “Harrington Inc.” has the meaning set forth in the preamble to this Agreement.

          “Harrington LP” has the meaning set forth in the preamble to this Agreement.

          “Harrington Merger Agreement” has the meaning set forth in Section 2.1(a)(vi).

          “HFCP Domestic” has the meaning set forth in the preamble to this Agreement.

          “Investors Tax Receivable Agreement (Reorganizations)” has the meaning set forth in
Section 2.1(b)(i).

3

 

          “Investors Tax Receivable Agreement (Exchanges)” has the meaning set forth in Section
2.1(b)(i).

          “Investors Tax Receivable Agreements” means the Investors Tax Receivable Agreement
(Reorganizations) and the Investors Tax Receivable Agreement (Exchanges).

          “IPO” has the meaning set forth in the recitals of this Agreement.

          “IPO Closing” means the initial closing of the sale of the Class A Common Stock in the
IPO (without giving effect to any exercise of the underwriters’ over-allotment option).

          “IPO Effective Time” means the date and time on which the Registration Statement is
declared effective by the Securities and Exchange Commission.

          “Issued Shares” has the meaning set forth in Section 3.2(d).

          “Management Members” means those individuals that are participants in the EBS
Executive Equity Incentive Plan and listed on Schedule I hereto.

          “Management Tax Receivable Agreement” has the meaning set forth in Section 2.1(b)(ii).

          “Person” means any individual, corporation, limited liability company, limited or
general partnership, joint venture, association, trust, unincorporated organization, government or
any agency or political subdivision thereof, or any group comprised of two or more of the
foregoing.

          “Phantom Awards” means awards issued under the EBS Incentive Plan.

          “Plan Member” has the meaning set forth in the preamble to this Agreement.

          “Post-IPO HF Stockholders” means, collectively, H&F Capital Associates, H&F Capital
Executives, HFCP Domestic Harrington AIV and H&F GP.

          “Post-Reorganization EBS Master Members” means the Company, Sub 1, Sub 2, the H&F
Subscribing Parties, the ERX Members and the Management Members.

          “Pre-Reorganization HF Members” means, collectively, H&F Capital Associates, H&F
Capital Executives, HFCP Domestic and Harrington L.P.

          “Registration Statement” means the registration statement on Form S-1 (File No.
333-153451) filed by the Company with the Securities and Exchange Commission in connection with the
IPO.

4

 

          “Reorganization Documents” means the documents listed on Schedule II hereto,
each in the form attached as an exhibit hereto.

          “Reorganization Transactions” has the meaning set forth in Section 2.1.

          “Restricted Stock Units” means restricted stock units, issued under the Emdeon Inc.
2009 Equity Incentive Plan, entitling the holder to receive shares of Class A Common Stock upon
vesting.

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

          “Sub 1” has the meaning set forth in the preamble to this Agreement.

          “Sub 2” has the meaning set forth in the preamble to this Agreement.

          1.2 Other Definitional Provisions.

               (a) The words “hereof,” “herein” and “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this
Agreement, and Article and Section references are to this Agreement unless otherwise specified.

               (b) The meanings given to terms defined herein shall be equally applicable to both the
singular and plural forms of such terms.

ARTICLE II

THE REORGANIZATION

          2.1 Transactions. Subject to the terms and conditions hereinafter set forth, and on
the basis of and in reliance upon the representations, warranties, covenants and agreements set
forth herein, the parties hereto shall take the actions described in this Section 2.1
(collectively, the “Reorganization Transactions”):

               (a) At such time prior to the IPO Effective Time as H&F GP and the GA Parties shall mutually
agree, the applicable parties hereto shall take the actions set forth below (or cause such actions
to take place):

          (i) The Company shall adopt and file with the Secretary of State of the State
of Delaware an amended and restated certificate of incorporation of the Company, in
the form of Exhibit A hereto (the “Amended and Restated Certificate of
Incorporation”), that, among other things, shall (x) authorize the Company to
issue up to                      shares of Class A Common Stock and                      shares of Class B
Common Stock and (y) reclassify the outstanding shares of common stock held by the
Company’s stockholders immediately prior to the filing of the Amended and Restated
Certificate of Incorporation with the Secretary of State of the State of Delaware
into an aggregate of                      shares of

5

 

Class A Common Stock, with each such stockholder receiving the number of
shares of Class A Common Stock set forth opposite its name on Schedule V
hereto.

          (ii) The Board shall adopt amended and restated bylaws of the Company in the
form of Exhibit B hereto.

          (iii) The Company shall redeem from its existing stockholders                      shares of
Class A Common Stock in exchange for the rights to receive payments in respect of
certain cash tax savings of the Company that are the subject of the Investors Tax
Receivable Agreement (Reorganizations) and that relate to the Company and
transactions entered into by the existing stockholders of the Company, which rights
shall be immediately contributed by such stockholders to GA ITR Holdco, L.P., a
Delaware limited partnership, in exchange for ownership interests in GA ITR Holdco,
L.P. pursuant to Section 2.1(a)(xiii).

          (iv) Pursuant to the terms of an agreement and plan of merger to be entered
into by and among the Company, EBS Acquisition II and Sub 1 in the form of
Exhibit C hereto (the “EBS Acquisition Merger Agreement”), EBS
Acquisition II shall merge with and into Sub 1, with Sub 1 being the surviving
entity in the merger. In accordance with the terms of the EBS Acquisition Merger
Agreement, as consideration for their interests in EBS Acquisition II, the GA EBS
II Equityholders shall receive (x) an aggregate of                      shares of Class A Common
Stock and (y) the rights to receive payments in respect of certain cash tax savings
of the Company that are the subject of the Investors Tax Receivable Agreement
(Reorganizations) and that relate to EBS Acquisition II and transactions entered
into by the GA EBS II Equityholders, which rights shall be immediately contributed
by the GA EBS II Equityholders to GA ITR Holdco, L.P. in exchange for ownership
interests in the GA ITR Holdco, L.P. pursuant to Section 2.1(a)(xiii).

          (v) Pursuant to a plan of liquidation, Harrington LP shall dissolve and
distribute 1.064% of its interest in EBS Master to H&F GP and 98.936% of its
interest in EBS Master to Harrington Inc.

          (vi) Pursuant to the terms of an agreement and plan of merger to be entered
into by and among the Company, Harrington Inc. and Sub 2 in the form of
Exhibit D hereto (the “Harrington Merger Agreement”), Harrington
Inc. shall merge with and into Sub 2, with Sub 2 being the surviving entity in the
merger. In accordance with the terms of the Harrington Merger Agreement, (x) as
consideration for its interests in Harrington Inc, Harrington AIV, in its capacity
as the sole stockholder of Harrington Inc., shall receive (x)                      shares of
Class A Common Stock and (y) the rights to receive payments in respect of certain
cash tax savings of the Company that are the subject of the Investors Tax

6

 

Receivable Agreement (Reorganizations) and that relate to Harrington Inc. and
transactions entered into by Harrington AIV, which rights shall be immediately
contributed by Harrington AIV to H&F ITR Holdco, L.P., a Delaware limited
partnership, in exchange for ownership interests in H&F ITR Holdco, L.P. pursuant
to Section 2.1(a)(xiii).

          (vii) H&F Capital Associates, H&F Capital Executives, HFCP Domestic and H&F GP
(each, an “H&F Subscribing Party”) each hereby subscribes for and each H&F
Subscribing Party agrees to pay for, at a price of $0.00001 per share, that number
of shares of Class B Common Stock (the “H&F Class B Shares”), equal to the
number of units of EBS Master (“EBS Units”) owned by such H&F Subscribing
Party immediately prior to the IPO Effective Time (such number to be determined
after giving effect to a unit split referred to in Section 2.1(a)(xi)), as set
forth on Schedule III hereto. The H&F Subscribing Parties shall receive,
along with the Class B Shares, the rights to enter into the Investors Tax
Receivable Agreement (Exchanges), which rights shall be immediately contributed by
the H&F Subscribing Parties to H&F ITR Holdco, L.P. pursuant to Section
2.1(a)(xiii).

          (viii) The Company shall issue the H&F Class B Shares to the H&F Subscribing
Parties upon payment therefor.

          (ix) Each ERX Member hereby subscribes for and each ERX Member agrees to pay
for, at a price of $0.00001 per share, that number of shares of Class B Common
Stock (the “ERX Class B Shares”) equal to the number of EBS Units owned by
such ERX Member immediately prior to the IPO Effective Time (such number to be
determined after giving effect to a unit split referred to in Section 2.1(a)(xi)),
as set forth on Schedule IV hereto.

          (x) The Company shall issue the ERX Class B Shares to the ERX Members upon
payment therefor.

          (xi) The Company, EBS Master, Sub 1, Sub 2, the ERX Members and the H&F
Subscribing Parties shall, and each agrees to, enter into Amendment No. 1 to the
Fifth Amended and Restated Limited Liability Company Agreement of EBS Master, in
the form of Exhibit E hereto, pursuant to which (x) each EBS Unit
outstanding immediately prior to the Effective Time shall be split into                      EBS
Units, (y) Exhibit A to such limited liability company agreement shall be amended
to reflect the addition of Sub 1, Sub 2 and H&F GP as members of EBS Master and the
unit split and (z) the Company shall be appointed as the sole managing member of
EBS Master.

7

 

          (xii) The Company, the GA Parties, the Post-IPO HF Stockholders, the ERX
Members and the Management Members shall enter into a stockholders agreement, in
the form of Exhibit F hereto.

          (xiii) The existing stockholders of the Company and the GA EBS II
Equityholders shall contribute all of their present and future rights in respect of
the Investors Tax Receivable Agreement (Reorganizations) to GA ITR Holdco, L.P. in
exchange for ownership interests in GA ITR Holdco, L.P., and Harrington AIV and the
H&F Subscribing Parties shall contribute all of their present and future rights in
respect of the Investors Tax Receivable Agreements to H&F ITR Holdco, L.P. in
exchange for ownership interests in H&F ITR Holdco, L.P.

          (xiv) GA ITR Holdco, L.P. and H&F ITR Holdco, L.P. shall contribute all of
their rights in respect of the Investors Tax Receivable Agreements to GA-H&F ITR
Holdco, L.P., a Delaware limited partnership, in exchange for ownership interests
in GA-H&F ITR Holdco, L.P.

          (xv) The Company shall provide the ERX Members and the Management Members at
least 3 days’ notice prior to the closing of the transactions contemplated by this
Section 2.1(a). Such notice may be given by email, telephone or telecopy, and
shall be deemed immediately effective when given.

               (b) Prior to the IPO Closing, the applicable parties hereto shall take the actions set forth
below (or cause such actions to take place):

          (i) The Company, GA-H&F ITR Holdco, L.P., H&F ITR Holdco, L.P. and GA ITR
Holdco, L.P., shall enter into (A) the tax receivable agreement (the “Investors
Tax Receivable Agreement (Reorganizations)”), in the form of Exhibit G
hereto and (2) the tax receivable agreement (the “Investors Tax Receivable
Agreement (Exchanges)”) in the form of Exhibit H hereto.

          (ii) The Company and the Management Members shall enter into a tax receivable
agreement (the “Management Tax Receivable Agreement”), in the form of
Exhibit I hereto.

               (c) With respect to the EBS Master Management Incentive Plans, after the IPO Effective Time
and prior to the IPO Closing, the applicable parties hereto shall take the actions set forth below
(or cause such actions to take place):

          (i) The Company, EBS Master, Sub 1, Sub 2, the ERX Members and the H&F
Subscribing Parties shall, and each agrees to, enter into Amendment No. 2 to the
Fifth Amended and Restated Limited

8

 

Liability Company Agreement of EBS Master, in the form of Exhibit J
hereto, pursuant to which all outstanding Grant Units issued to the Plan Member
under the EBS Executive Equity Incentive Plan shall be converted into vested and
unvested EBS Units and certain other rights, including rights to enter into the
Management Tax Receivable Agreement (the “TRA Rights”).

          (ii) The Company, as managing member of EBS Master shall adopt resolutions
pursuant to which (x) the accumulated appreciation in value since the date of
grant of all outstanding Grant Units issued to the Plan Member under the EBS
Executive Equity Incentive Plan shall be converted into vested and unvested EBS
Units (based on the public offering price of the Class A Common Stock in the IPO)
and certain other rights, including the TRA Rights, (y) the Grant Units issued to
the Plan Member under the EBS Executive Equity Incentive Plan shall be cancelled
and (z) a plan of liquidation for the Plan Member shall be approved pursuant to
which the EBS Units and TRA Rights shall be distributed to the members of the Plan
Member and the class units issued by the Plan Member to the Management Members
shall be cancelled.

          (iii) The Board of Directors of the Company (both for itself and as managing
member of EBS Master) shall adopt resolutions pursuant to which (x) the accumulated
appreciation in value since the date of grant of each outstanding Phantom Award
that has vested prior to the IPO Closing shall be converted into the number of
            shares of Class A Common Stock as determined by the Boards of Directors of the
Company and EBS Master (based on the public offering price of the Class A Common
Stock in the IPO) and (y) the accumulated appreciation in value since the date of
grant of each outstanding Phantom Award that has not vested prior to the IPO
Closing shall be converted into the number of Restricted Stock Units as determined
by the Board of Directors of the Company (based on the public offering price of the
Class A Common Stock in the IPO).

          (iv) Pursuant to the plan of liquidation described in Section 2.1(c)(ii)
hereof, the Plan Member shall dissolve.

          (v) Pursuant to Common Stock Subscription and EBS Unit Vesting Agreements with
the Company in the form of Exhibit K hereto, each Management Member shall
subscribe for a number of shares of Class B Common Stock, at a price of $0.00001
per share, equal to the number of vested and unvested EBS Units owned by such
Management Member, and the Company shall issue such Class B Common Stock to such
Management Member upon payment therefor.

          (vi) EBS Master and the Post-Reorganization EBS Master Members shall enter
into the Sixth Amended and Restated Limited

9

 

Liability Company Agreement of EBS Master, in the form of Exhibit L
hereto, (x) to reflect various post IPO agreements and (y) to reflect a new
Exhibit A thereto to reflect the addition of the Management Members as members of
EBS Master.

          2.2 Consent to Reorganization Transactions.

               (a) Each of the parties hereto hereby acknowledges, agrees and consents to all of the
Reorganization Transactions. Each of the parties hereto shall take all action necessary or
appropriate in order to effect, or cause to be effected, to the extent within its control, each of
the Reorganization Transactions.

               (b) The parties hereto shall deliver to each other, as applicable, prior to, at or as soon as
practicable after the Effective Time, the date of the IPO Closing or the date of any Additional IPO
Closing, as applicable, each of the Reorganization Documents to which it is a party, together with
any other documents and instruments necessary or appropriate to be delivered in connection with the
Reorganization Transactions. Notwithstanding anything to the foregoing in this Section 2.2: the
consent by H&F Capital Associates, H&F Capital Executives, HFCP Domestic, Harrington LP, H&F GP,
Harrington Inc. and Harrington AIV to the IPO is contingent on the IPO Closing occurring by
September 30, 2009, and if the IPO Closing does not occur by such date, the consent of such parties
to the IPO shall be required to the extent necessary under the Fifth Amended and Restated Limited
Liability Company Agreement of EBS Master.

          2.3 No Liabilities in Event of Termination; Certain Covenants. In the event that the
GA Parties, H&F GP and the Board determine to abandon the IPO prior to the occurrence of the events
described in Section 2.1(a) or Section 2.1(b) or, unless H&F GP and the GA Parties otherwise agree,
the events described in Section 2.1(a) do not occur by September 30, 2009, (a) this Agreement shall
automatically terminate and be of no further force or effect except for this Section 2.3 and
Sections 4.3, 4.6, 4.7, 4.9 and 4.10 and (b) there shall be no liability on the part of any of the
parties hereto, except that such termination shall not preclude any party from pursuing judicial
remedies for damages and/or other relief as a result of the breach by the other parties of any
representation, warranty, covenant or agreement contained herein prior to such termination. In the
event that the GA Parties, H&F GP and the Board determine to abandon the IPO after the occurrence
of any of the events described in Section 2.1(a),
Section 2.1(b) or Section 2.1(c) or the IPO is not
completed by September 30, 2009, the parties
agree, as applicable, to amend the Stockholders Agreement and the limited liability company
agreement of EBS Master so that the governance, transfer restrictions, liquidity rights and other
related provisions therein with respect to the Company, the Company’s Subsidiaries and the
Company’s and EBS Masters’ securities correspond in all substantive respects with the provisions
contained in the Fifth Amended and Restated Limited Liability Company Agreement of EBS Master as in
effect on the date hereof. Prior to the IPO and after any abandonment of the IPO, except as
expressly contemplated by this Agreement and subject to the
immediately preceding sentence, the Company, as Managing Member of EBS Master, will not:
take any action or cause or permit EBS Master to take any action that, under the Fifth Amended and
Restated Limited Liability Company Agreement of EBS Master as in effect on the date hereof, would
require the

10

 

consent or approval of one or more of the H&F Members (as defined in the Fifth Amended and
Restated LLC Agreement) or the unanimous consent of the board of directors of EBS Master; or amend the
certificate of incorporation of the
Company; or issue or repurchase, redeem or otherwise acquire any units or other equity interests of EBS Master or any
capital stock of the Company; or declare or pay any dividends or distributions on the capital stock
of the Company; or effect any subdivision or combination of the outstanding capital stock of the
Company or units of EBS Master; or resign or cease to be or be replaced as managing Member of EBS
Master; in each case, without first obtaining the written consent or approval of the H&F Members.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

          3.1 Representations and Warranties. Each party hereto hereby represents and warrants
to all of the other parties hereto as follows:

               (a) Such party is duly organized, validly existing and in good standing under the laws of its
jurisdiction of organization or incorporation. The execution, delivery and performance by such
party of this Agreement and of the applicable Reorganization Documents, to the extent a party
thereto, has been or prior to the IPO Effective Time will be duly authorized by all necessary
action;

               (b) Such party has or prior to the IPO Effective Time will have the requisite power, authority
and legal right to execute and deliver this Agreement and each of the Reorganization Documents, to
the extent a party thereto, and to consummate the transactions contemplated hereby and thereby, as
the case may be;

               (c) This Agreement and each of the Reorganization Documents to which it is a party has been
(or when executed will be) duly executed and delivered by such party and constitutes the legal,
valid and binding obligation of such party, enforceable against such party in accordance with its
terms, subject to (i) the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and other similar laws relating to or affecting creditors’ rights generally, (ii)
general equitable principles (whether considered in a proceeding in equity or at law) and (iii) an
implied covenant of good faith and fair dealing; and

               (d) Neither the execution, delivery and performance by such party of this Agreement and the
applicable Reorganization Documents, to the extent a party thereto, nor the consummation by such
party of the transactions contemplated hereby, nor compliance by such party with the terms and
provisions hereof, will, directly or indirectly (with or without notice or lapse of time or both),
(i) contravene or conflict with, or result in a breach or termination of, or constitute a default
under (or with notice or lapse of time or both, result in the breach or termination of or
constitute a default under) the organizational documents of such party, (ii) constitute a violation
by such party of any existing requirement of law applicable to such party or any of its properties,
rights or assets or (iii) require the consent or approval of any Person, except, in the case

11

 

of clauses (ii) and (iii), as would not reasonably be expected to result in, individually or
in the aggregate, a material adverse effect on the ability of such party to consummate the
transactions contemplated by this Agreement.

          3.2 Additional Representations by the GA EBS II Equityholders and the ERX Members. In
connection with the issuance of Common Stock pursuant to the EBS Acquisition Merger Agreement,
Section 2.1(a)(iv), Section 2.1(a)(ix) and Section 2.1(a)(x), each GA EBS II Equityholder and each
ERX Member hereby represents and warrants:

               (a) that it is an “accredited investor” (as defined in Regulation D promulgated under the
Securities Act);

               (b) that it or its representative has had access to the same kind of information concerning
the Company that is required by Schedule A of the Securities Act, to the extent that the Company
possesses such information;

               (c) that it has such knowledge and experience in financial and business matters that it is
capable of utilizing the information that is available to it concerning the Company to evaluate the
risks of investment in the Company including the risk that it could lose its entire investment in
the Company;

               (d) that it understands that the shares of Common Stock to be issued to or received by it as
described in Section 2.1 (the “Issued Shares”) have not been registered under the
Securities Act, the securities laws of any state or the securities laws of any other jurisdiction
and that such Issued Shares must be held indefinitely unless the sale or transfer is registered
under the Securities Act and such other securities laws or an exemption from registration under the
Securities Act and such other securities laws covering the sale or transfer of such Issued Shares
is available;

               (e) that the Issued Shares (other than any Issued Shares intended to be sold in the IPO or
sold to the Company in connection with the IPO) are being purchased by it for its own sole benefit
and account for investment and not with a view to, or for resale in connection with, a public
offering or distribution thereof;

               (f) that it understands that the certificate or certificates representing the Issued Shares
(if certificated) may be impressed with a legend stating that the Issued Shares have not been
registered under the Securities Act or state securities laws and setting out or referring to the
restrictions on the transferability and resale of the Issued Shares; and

               (g) that it understands that stop transfer instructions in respect of the Issued Shares may be
issued to any transfer agent, transfer clerk or other agent at any time acting for the Company.

          3.3 Additional Representations by Harrington AIV and the H&F Subscribing Parties. In
connection with the issuance of Common Stock pursuant to the Harrington Merger Agreement, Section
2.1(a)(vi), Section 2.1(a)(vii) and Section

12

 

2.1(a)(viii), Harrington AIV and each H&F Subscribing Party hereby represents and warrants:

               (a) (i) that, except as disclosed to the Company, it is an “accredited investor” (as defined
in Regulation D promulgated under the Securities Act) and (ii) that it has such knowledge and
experience in financial and business matters that it is capable of utilizing the information that
is available to it concerning the Company to evaluate the risks of investment in the Company
including the risk that it could lose its entire investment in the Company;

               (b) that it or its representatives has had access to such information concerning the Company
as it deems necessary in making its investment decision;

               (c) that it understands that the Issued Shares have not been registered under the Securities
Act, the securities laws of any state or the securities laws of any other jurisdiction and that
such Issued Shares must be held indefinitely unless the sale or transfer is registered under the
Securities Act and such other securities laws or an exemption from registration under the
Securities Act and such other securities laws covering the sale or transfer of such Issued Shares
is available;

               (d) that the Issued Shares (other than any Issued Shares intended to be sold in the IPO or
sold to the Company in connection with the IPO) are being purchased by it for its own sole benefit
and account for investment and not with a view to, or for resale in connection with, a public
offering or distribution thereof;

               (e) that it understands that the certificate or certificates representing the Issued Shares
(if certificated) may be impressed with a legend stating that the Issued Shares have not been
registered under the Securities Act or state securities laws and setting out or referring to the
restrictions on the transferability and resale of the Issued Shares; and

               (f) that it understands that stop transfer instructions in respect of the Issued Shares may be
issued to any transfer agent, transfer clerk or other agent at any time acting for the Company.

          3.4 Additional Representations by the Company. The Company represents to each of the
parties to be issued Common Stock pursuant to the Reorganization Transactions as follows:

               (a) As of the date hereof and immediately prior to the effectiveness of the Amended and
Restated Certificate of Incorporation, the authorized capital stock of the Company consists of
600,000 shares of common stock without designation as to series or class, of which 520,000 shares
of common stock are issued and outstanding, and no shares of capital stock were held in treasury or
reserved for issuance and there are no outstanding options, warrants or other rights to acquire any capital stock of the Company.
Upon issuance of the Issued Shares and payment therefor, the Issued Shares
shall be duly

13

 

authorized and validly issued, fully paid and non-assessable and the issuance of such Issued
Shares will not be subject to any pre-emptive or similar right.

               (b) No form of general solicitation or general advertising was used by the Company or its
representatives in connection with the offer or sale of the Issued Shares. Assuming the accuracy
of the representations in Section 3.2 and Section 3.3, no registration of the Issued Shares,
pursuant to the provisions of the Securities Act or any state securities or “blue sky” laws, will
be required by the offer, sale or issuance of the Issued Shares.

               (c) The Company was formed for the purpose of making an investment in EBS Master and has only
conducted business operations or other activities related to, and only has obligations and
liabilities arising out of, its investment in EBS Master, the Reorganization Transactions and the
IPO.

               (d) For purposes of Rule 16b-3(d)(1) of the Securities Exchange Act of 1934, as amended, each
acquisition or disposition of Common Stock or other equity securities of the Company by an
executive officer, director or person that may be deemed to be a director of the Company in a
transaction with the Company contemplated by the Agreement has been or will be approved by the
Board prior to such transaction. Without limiting the foregoing, the Board has approved, in each
case for purposes of Rule 16b-3(d)(1): the reclassification of the Company’s common stock pursuant
to the filing of the Amended and Restated Certificate of Incorporation; the merger of EBS
Acquisition II and Sub 1 in accordance with the EBS Acquisition Merger Agreement and the issuance
of Class A Common Stock pursuant thereto; the merger of Harrington Inc. with Sub 2 in accordance
with the Harrington Merger Agreement and the issuance of Class A Common Stock pursuant thereto; the
acquisition of Class B Common Stock by the H&F Subscribing Parties and the ERX Members as
contemplated by Section 2.1; the entry into Amendment No. 1 to the Fifth Amended and Restated
Limited Liability Company Agreement of EBS Master and the grant by EBS Master of exchange rights to
the H&F Subscribing Parties, the ERX Members and the Management Members to acquire Class A Shares;
the entry into Amendment No. 2 to the Fifth Amended and Restated Limited Liability Company
Agreement of EBS Master and the issuance of EBS Units, Class A Common Stock and Restricted Stock
Units pursuant thereto and pursuant to Section 2.1(c)(ii)and Section 2.1(c)(iii); the redemption of
Class A Common Stock in exchange for the rights to receive payments in respect of certain cash tax
savings of the Company pursuant to the Investors Tax Receivable Agreement (Reorganizations) and
Section 2.1(a)(iii); and the issuance to the H&F Subscribing Parties, Harrington AIV, the ERX
Members and the Management Members of, as applicable, any shares of Class A Stock issuable upon
exchange of EBS Units and Class B Stock, in each case upon exchange of the Common Stock or EBS
Units issued pursuant to the Reorganization Transactions.

14

 

ARTICLE IV

MISCELLANEOUS

          4.1 Amendments and Waivers. This Agreement may be modified, amended or waived only with
the written approval of (i) the Company, (ii) the GA EBS II Equityholders and (iii) the Post-IPO HF
Stockholders; provided, that any modification, amendment or waiver of Section 2.1(a)(ix) or
Section 2.1(a)(x), shall also require the approval of the ERX Members. Any such amendment shall be
binding upon each of the other parties hereto. The failure of any party to enforce any of the
provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall
not affect the right of such party thereafter to enforce each and every provision of this Agreement
in accordance with its terms.

          4.2 Successors, Assigns and Transferees. This Agreement shall bind and inure to the
benefit of and be enforceable by the parties hereto and their respective successors and permitted
assigns.

          4.3 Notices. Subject to Section 2.1(a)(xv), all notices and other communications
required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon
personal delivery to the party to be notified; (b) when sent by confirmed facsimile if sent during
normal business hours of the recipient, if not, then on the next business day, provided that a copy
of such notice is also sent via nationally recognized overnight courier, specifying next day
delivery, with written verification of receipt; (c) three days after having been sent by registered
or certified mail, return receipt requested, postage prepaid; or (d) one business day after deposit
with a nationally recognized overnight courier, specifying next day delivery, with written
verification of receipt. All communications shall be sent to such party’s address as set forth
below or at such other address as the party shall have furnished to each other party in writing in
accordance with this provision:

If to any of the Pre-IPO H&F Members, Harrington Inc., H&F GP, Harrington AIV or
Sub 2, addressed to it at:

c/o Hellman & Friedman LLC

One Maritime Plaza

12th Floor

San Francisco, CA 94111

Telephone: (415) 788-5111

Facsimile: (415) 788-0176

Attention: General Counsel

15

 

With copies (which shall not constitute notice) to:

Simpson, Thacher & Bartlett LLP

2550 Hanover Street

Palo Alto, CA 94304

Telephone: (650) 251-5000

Facsimile: (650) 251-5002

Attention: Richard Capelouto, Esq.

If to EBS Acquisition II or Sub 1, addressed to it at:

c/o General Atlantic Service Company, LLC

3 Pickwick Plaza

Greenwich, CT 06830

Telephone: (203) 629-8600

Facsimile: (203) 618-9207

Attention: Christopher G. Lanning, Esq.

With copies (which shall not constitute notice) to:

Paul, Weiss, Rifkind, Wharton & Garrison LLP

1285 Avenue of the Americas

New York, NY 10019-6064

Telephone: (212) 373-3402

Facsimile: (212) 492-0402

Attention: Matthew W. Abbott, Esq.

If to the Company, EBS Master or the Plan Member, addressed to it at:

3055 Lebanon Pike, Suite 1000

Nashville, TN 37214

Telephone: (615) 932-3000

Facsimile: (615) 340-6153

Attention: General Counsel

With copies (which shall not constitute notice) to:

Paul, Weiss, Rifkind, Wharton & Garrison LLP

1285 Avenue of the Americas

New York, NY 10019-6064

Telephone: (212) 373-3000

Facsimile: (212) 757-3990

Attention: John C. Kennedy, Esq.

If to the ERX Members, to them at the addresses set forth on each eRx Member’s
signature page to this Agreement.

16

 

With copies (which shall not constitute notice) to:

Alston & Bird LLP

2200 Ross Avenue

Dallas, Texas 75201

Telephone: 214-922-3400

Facsimile: 212-922-3899

Attention: Darren C. Hauck, Esq.

          4.4 Further Assurances. At any time or from time to time after the date hereof, the
parties agree to cooperate with each other, and at the request of any other party, to execute and
deliver any further instruments or documents and to take all such further action as the other party
may reasonably request in order to evidence or effectuate the consummation of the transactions
contemplated hereby and to otherwise carry out the intent of the parties hereunder.

          4.5 Entire Agreement. Except as otherwise expressly set forth herein, this Agreement,
together with the Reorganization Documents, embodies the complete agreement and understanding among
the parties hereto with respect to the subject matter hereof and supersedes and preempts any prior
understandings, agreements or representations by or among the parties, written or oral, that may
have related to the subject matter hereof in any way.

          4.6 Governing Law; Jurisdiction; Waiver of Jury Trial. This Agreement shall be
governed in all respects by the laws of the State of New York. To the fullest extent permitted by
law, no suit, action or proceeding with respect to this Agreement may be brought in any court or
before any similar authority other than in a court of competent jurisdiction in the State of New
York, and the parties hereto hereby submit to the exclusive jurisdiction of such courts for the
purpose of such suit, proceeding or judgment. To the fullest extent permitted by law, each party
hereto hereby irrevocably waives any right it may have had to bring such an action in any other
court, domestic or foreign, or before any similar domestic or foreign authority. Each of the
parties hereto hereby irrevocably and unconditionally waives trial by jury in any legal action or
proceeding in relation to this Agreement and for any counterclaim therein.

          4.7 Severability. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be invalid, illegal or unenforceable in any respect under any
applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall
not affect any other provision or any other jurisdiction, but this Agreement shall be reformed,
construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision
had never been contained herein.

          4.8 Enforcement. Each party hereto acknowledges that money damages would not be an
adequate remedy in the event that any of the covenants or agreements in this Agreement are not
performed in accordance with its terms, and it is

17

 

therefore agreed that in addition to and without limiting any other remedy or right it may
have, the non-breaching party will have the right to an injunction, temporary restraining order or
other equitable relief in any court of competent jurisdiction enjoining any such breach and
enforcing specifically the terms and provisions hereof.

          4.9 Titles and Subtitles. The titles of the sections and subsections of this
Agreement are for convenience of reference only and are not to be considered in construing this
Agreement.

          4.10 Counterparts; Facsimile Signatures. This Agreement may be executed in any number
of counterparts, each of which shall be an original, but all of which together shall constitute one
instrument. This Agreement may be executed by facsimile signature(s).

          4.11 Expenses. The Company agrees to pay all reasonable out of pocket expenses and
costs of the GA Parties and the H&F Subscribing Parties, Harrington AIV, Harrington Inc. and
Harrington LP (including reasonable attorney and other professional fees and expenses) incurred in
connection with the negotiation and execution of this Agreement and the transactions contemplated
by this Agreement and the Agreement and Plan of Merger by and among the Company, Envoy LLC, Emdeon
Merger Sub LLC, eRx Network, L.L.C. and the Members’ Representative (as defined therein).

18

 

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

	 	 	 	 	 	 	 
	 	 	EMDEON INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	EBS ACQUISITION II LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	HELLMAN & FRIEDMAN CAPITAL ASSOCIATES VI, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hellman & Friedman Investors VI, L.P.,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hellman & Friedman LLC,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title: Managing Director	 	 
	 
	 	 	 	 	 	 
	 	 	HELLMAN & FRIEDMAN CAPITAL EXECUTIVES VI, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hellman & Friedman Investors VI, L.P.,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hellman & Friedman LLC,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title: Managing Director	 	 

[Signature page to Emdeon Reorganization Agreement]

 

 

	 	 	 	 	 	 	 
	 	 	HFCP VI DOMESTIC AIV, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hellman & Friedman Investors VI, L.P.,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hellman & Friedman LLC,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title: Managing Director	 	 
	 
	 	 	 	 	 	 
	 	 	H&F HARRINGTON AIV I, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hellman & Friedman Investors VI, L.P.,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hellman & Friedman LLC,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title: Managing Director	 	 
	 
	 	 	 	 	 	 
	 	 	HELLMAN & FRIEDMAN INVESTORS VI, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hellman & Friedman LLC,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	H&F HARRINGTON INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	H&F HARRINGTON AIV II, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

[Signature page to Emdeon Reorganization Agreement]

 

 

	 	 	 	 	 	 	 
	 	 	EBS HOLDCO I, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	EBS HOLDCO II, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	EBS EXECUTIVE INCENTIVE PLAN LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	EBS MASTER LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Name: James Fehring	 	 
	 	 	Address:	 	 
	 	 	Facsimile:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Name: Barry Guld	 	 
	 	 	Address:	 	 
	 	 	Facsimile:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Name: Michael Ingram	 	 
	 	 	Address:	 	 
	 	 	Facsimile:	 	 

[Signature page to Emdeon Reorganization Agreement]

 

 

	 	 	 	 	 	 	 
	 	 	LYLE HOLDINGS, LP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name:

Its:

Address:

Facsimile:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Name: Kevin Mahoney

Address:

Facsimile:	 	 
	 
	 	 	 	 	 	 
	 	 	NATIONAL HEALTH SYSTEMS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name:

Its:

Address:

Facsimile:	 	 
	 
	 	 	 	 	 	 
	 	 	NOW TECHNOLOGY, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name:

Its:

Address:

Facsimile:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Name: Richard Sage

Address:

Facsimile:
	 	 

[Signature page to Emdeon Reorganization Agreement]

 

 

Schedule I

Management Members

Bahl, Tracy L.

Caldwell, Edward

Coughlin, Patrick

Creavin, Damien

Devitre, Dinyar S.

Hardin, J. Philip

Kever, Jim D.

Khan, Sajid A

Lazenby, George

Manzella, Frank J.

Newport Jr., Bob

Pead, Philip M.

Scully, Ben

Smith, Ryan L

Stevens, Gregory

Stuart, Gary D

 

 

Schedule II

Reorganization Documents

	1.	 	Amended and Restated Certificate of Incorporation of the Company
	 
	2.	 	Amended and Restated Bylaws of the Company
	 
	3.	 	EBS Acquisition Merger Agreement
	 
	4.	 	Harrington Merger Agreement
	 
	5.	 	Amendment No. 1 to Fifth Amended and Restated EBS LLC Agreement
	 
	6.	 	Amendment No. 2 to Fifth Amended and Restated EBS LLC Agreement
	 
	7.	 	Stockholders Agreement
	 
	8.	 	Investors Tax Receivable Agreement (Reorganizations)
	 
	9.	 	Investors Tax Receivable Agreement (Exchanges)
	 
	10.	 	Management Tax Receivable Agreement
	 
	11.	 	Common Stock Subscription Agreement and EBS Unit Vesting Agreement
	 
	12.	 	Sixth Amended and Restated LLC Agreement of EBS Master
	 
	13.	 	Limited Liability Company Agreement of EBS Holdco I, LLC
	 
	14.	 	Limited Liability Company Agreement of EBS Holdco II, LLC

 

 

Schedule III

HF Subscribing Parties

	 	 	 	 	 
	 	 	EBS Units	 	Class B
	 	 	Owned Prior to	 	Common Stock
	Name	 	Effective Time	 	Subscription
	Hellman & Friedman Capital Associates VI,
L.P.

	 	 
	 	 
	 
	Hellman & Friedman Capital Executives VI,
L.P.
	 	 	 	 
	 
	HFCP VI Domestic AIV, L.P.
	 	 	 	 
	 
	Hellman & Friedman Investors VI, L.P.
	 	 	 	 

 

 

Schedule IV

ERX Members

	 	 	 	 	 
	 	 	EBS Units	 	Class B
	 	 	Owned Prior to	 	Common Stock
	Name	 	Effective Time	 	Subscription
	Fehring, James

	 	 
	 	 
	 
	Guld, Barry
	 	 	 	 
	 
	Ingram, Michael
	 	 	 	 
	 
	Lyle Holdings, LP
	 	 	 	 
	 
	Mahoney, Kevin
	 	 	 	 
	 
	National Health Systems, Inc.
	 	 	 	 
	 
	Now Technology, Inc.
	 	 	 	 
	 
	Sage, Richard
	 	 	 	 

 

 

Schedule V

Pre-Reorganization Company Stockholders

	 	 	 
	 	 	Class A Common Stock
	Name	 	to be Received in Reclassification
	General Atlantic Partners 83, L.P.
	 	 
	 
	GAP-W, LLC
	 	 
	 
	GapStar, LLC
	 	 
	 
	GAPCO GmbH & Co. KG
	 	 
	 
	GAP Coinvestments CDA, L.P.
	 	 
	 
	GAP Coinvestments III, LLC
	 	 
	 
	GAP Coinvestments IV, LLC

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