Document:

EX-10.1

Exhibit 10.1

Execution Version

AMENDMENT NO. 1

TO

MANAGEMENT AGREEMENT

     This Amendment No. 1 to Management Agreement (the “Amendment”) by and between Care
Investment Trust Inc., a Maryland corporation (the “Company”), and CIT Healthcare LLC, a
Delaware limited liability company (the “Manager,” and, together with the Company, the
“Parties”) is dated as of September 30, 2008. All capitalized terms used, but not defined, in this
Amendment shall have the meanings ascribed to such terms in the Management Agreement (defined
below).

WITNESSETH:

     WHEREAS, the Parties entered into a Management Agreement dated as of June 27, 2007 (the
“Management Agreement”) wherein the Company retained the Manager to manage the business and
investment affairs of the Company and its Subsidiaries and to perform services for the Company in
the manner and on the terms set forth in the Management Agreement; and

     WHEREAS, the Parties now desire to amend the Management Agreement to provide for certain
modifications to the payment and termination provisions contained therein, which amendments shall
be effective as of the Effective Date (defined below); and

     WHEREAS, in connection with, and as consideration for, this Amendment, the Parties are
separately entering into a Warrant Agreement wherein the Company shall grant to the Manager under
the Company’s Manager Equity Plan warrants to purchase from the Company up to 435,000 shares of the
Company’s common stock at an exercise price of $17.00 per share.

     NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements
herein made, the parties hereto hereby agree as follows:

     Section 1. Reduction of Base Management Fee. The definition of “Base Management Fee”
included in Section 1(a) of the Management Agreement is hereby amended in its entirety to read as
follows:

     “Base Management Fee” means the base management fee, calculated and payable monthly in
arrears, in an amount equal to one-twelfth of 0.875% of Equity.”

 

 

     Section 2. Minimum Termination Fee. The definition of “Termination Fee” included in
Section 1(a) of the Management Agreement is hereby amended in its entirety to read as follows:

     “Termination Fee” means a termination fee equal to the average annual Base Management Fee as
earned by the Manager during the two years immediately preceding the most recently completed fiscal
quarter prior to the date of termination, multiplied by three (3); provided, however, that in no
event shall such termination fee be less than Fifteen Million Four Hundred Thousand Dollars
($15,400,000).

     Section 3. Other Definitions. The following definitions included in Section 1(a) of
the Management Agreement shall be deleted in their entirety: “Funds From Operations”; “Incentive
Fee”; “Incentive Fee Computation Notice”; “Last Appraiser”; “Ten-Year U.S. Treasury Rate” and
“Valuation Notice”

     Section 4. Compensation.

     Section 6(a) is hereby amended in its entirety to read as follows: “(a) For the services
rendered under this Agreement, the Company shall pay to the Manager the Base Management Fee.”

     The following sub-sections of Section 6 of the Management Agreement shall be deleted in their
entirety: Section 6(e); Section 6(f); Section 6(g); and Section 6(h).

     Section 5. Effective Date. The effective date of this Amendment shall be August 1,
2008 (the “Effective Date”).

     Section 6. Counterparts. This Amendment may be executed by the Parties to this
Amendment on any number of separate counterparts (including by telecopy or portable device format
or “pdf”), and all of said counterparts taken together shall be deemed to constitute one and the
same instrument.

     Section 7. Severability. Any provision of this Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

     Section 8. No Other Changes to Management Agreement. Apart from the amendments
contained herein, all other terms and provisions of the Management Agreement remain in full force
and effect.

[Signature Page Follows]

2

 

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

	 	 	 	 	 
	 	CARE INVESTMENT TRUST INC.

 	 
	 	By:  	 	 
	 	 	Name:  	F. Scott Kellman 	 
	 	 	Title:  	Chief Executive Officer and President 	 
	 
	 	CIT HEALTHCARE LLC

 	 
	 	By:  	 	 
	 	 	Name:  	Steven Warden 	 
	 	 	Title:  	PresidentEX-10.2

Exhibit 10.2

WARRANT

THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE
OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO SUCH EFFECT, THE SUBSTANCE OF
WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

WARRANT TO PURCHASE COMMON STOCK

OF

CARE INVESTMENT TRUST INC.

W2008-1

     This is to certify that, FOR VALUE RECEIVED, CIT HEALTHCARE LLC or its assigns registered on
the registry books maintained by the Company (“Holder”), is entitled to purchase, subject to the
provisions of this Warrant, from Care Investment Trust Inc., a Maryland corporation (the
“Company”), up to four hundred thirty-five thousand (435,000) fully paid, validly issued and
nonassessable shares (the “Warrant Shares”) of the common stock, par value $.001 per share, of the
Company (“Common Stock”), at the Exercise Price (as defined below) at any time or from time to time
during the period commencing on the date this Warrant is issued to the Holder, through the Warrant
Expiration Date (the “Exercise Period”). The number of Warrant Shares to be received upon the
exercise of this Warrant and the price to be paid for each Warrant Share may be adjusted from time
to time as hereinafter set forth.

     1. Definitions. As used herein, the following terms shall have the following meanings, unless
the context shall otherwise require:

     (a) “Exercise Date” shall mean the date on which the Company shall have received both (a) the
Notice of Exercise annexed hereto duly executed by the Holder hereof or his attorney duly
authorized in writing, and (b) if payment is to be made in cash, cash or an official bank or
certified check made payable to the Company, of an amount in lawful money of the United States of
America equal to the Exercise Price.

     (b) “Exercise Price” shall mean the purchase price to be paid upon exercise of this Warrant in
accordance with the terms hereof, which price shall be $17.00 per Warrant Share, subject to
adjustment from time to time pursuant to the provisions of Section 5 hereof.

 

 

     (c) “Warrants” shall mean this Warrant and any warrants into which this Warrant may be divided
or exchanged.

     (d) “Warrant Expiration Date” shall mean 5:00 P.M. (New York time) on September 30, 2018.

     2. Exercise.

          (a) The purchase rights represented by this Warrant shall be exercisable by the Holder in
whole or in part at any time or from time to time during the Exercise Period by the surrender of
this Warrant and the Notice of Exercise attached as Annex I hereto duly completed and executed on
behalf of the Holder, together (unless such exercise is on a cashless basis pursuant to Section
2(b)) with the payment to the Company, by cash or official bank or certified check, of the Exercise
Price for the Warrant Shares so purchased, at the principal office of the Company (or such other
office or agency of the Company as it may designate by notice in writing to the Holder at the
address of the Holder appearing on the books of the Company). This Warrant shall be deemed to have
been exercised immediately prior to the close of business on the date of its surrender for exercise
as provided above (including payment), and the person entitled to receive the Warrant Shares
issuable upon such exercise shall be treated for all purposes as the holder of record of such
shares as of the close of business on such date. As promptly as practicable on or after such date
(but no more than five (5) days thereafter), the Company, at its expense, shall issue and deliver
to the person or persons entitled to receive the same, a certificate or certificates for the number
of Warrant Shares issuable upon such exercise. In the event that this Warrant is exercised in
part, the Company, at its expense, shall, simultaneously with the delivery described in the
immediately preceding sentence, execute and deliver a new Warrant of like tenor exercisable for the
number of shares for which this Warrant may then be exercised.

     (b) The Holder may, at its option, exchange this Warrant on a cashless basis, in whole or in
part (a “Warrant Exchange”), for the number of Warrant Shares determined in accordance with this
Section 2(b), by surrendering this Warrant at the principal office of the Company (or such other
office or agency of the Company as it may designate by notice in writing to the Holder at the
address of the Holder appearing on the books of the Company), accompanied by the Notice of Exercise
attached as Annex I hereto duly completed and executed on behalf of the Holder indicating the
Holder’s intent to effect such exchange, the number of Warrant Shares underlying such Warrant to be
exchanged and the date of the notice of such intent to exchange (the “Notice of Exchange”). The
Warrant Exchange shall take place on the date set forth in the Notice of Exchange (the “Exchange
Date”), which date shall not be prior to the date the Notice of Exchange was delivered.
Certificates for the Warrant Shares issuable upon such Warrant Exchange and, if applicable, a new
Warrant of like tenor evidencing the balance of the Warrant Shares remaining subject to this
Warrant, shall be issued as of the Exchange Date and delivered to the Holder as soon as practicable
(but not more than five (5) business days) following the Exchange Date. In connection with any
Warrant Exchange, the Company shall issue to the Holder such number of fully paid and nonassessable
shares of Common Stock as is computed using the following formula:

	 	 	 	 	 
	 

	 	 
X =
	 	Y (A - B)

     A

2

 

	 	 	 
	Where

	 	X = the number of shares to be issued to the Holder pursuant
to the Warrant Exchange.
	 
	 	 
	 

	 	Y = the number of shares covered by the Warrant which the
Holder has elected to exchange pursuant to this Section 2(b).
	 
	 	 
	 

	 	A = the current market price per share of Common Stock (as
defined below) on the Exchange Date.
	 
	 	 
	 

	 	B = the Exercise Price in effect under the Warrant on the
Exchange Date (as adjusted to the date of such calculation).

     For the purpose of any computation under Subsections (b) above, the current market price per
share of Common Stock on the Exchange Date shall be determined as follows:

          (i) If the Common Stock is listed on or quoted for trading on the American Stock Exchange, the
New York Stock Exchange, the Nasdaq Global Market, the Nasdaq Global Select Market, or the Nasdaq
Capital Market, the current market value shall be the last reported sale price of the Common Stock
on such exchange on such trading day or if no such sale is made on such day, the average closing
bid and asked prices for such day on such exchange;

          (ii) If the Common Stock is not so listed or quoted for trading, but is traded or quoted for
trading on the OTC Bulletin Board or in the pink sheets, the current market value shall be the mean
of the average of the last reported bid and asked prices reported by the National Quotation Bureau,
Inc. for such trading day (or if no such prices are available on such date, the most recent date
preceding such date when such prices were reported); or

          (iii) If the Common Stock is not so listed or admitted to unlisted trading privileges and bid
and asked prices are not so reported, the current market value shall be an amount, not less than
book value thereof as at the end of the most recent fiscal year of the Company ending prior to such
business day, determined in such reasonable manner as may be prescribed by the Board of Directors
of the Company.

     3. Reservation of Shares; Payment of Taxes; Etc.

          (a) The Company has issued this Warrant under the Manager Equity Plan adopted by the Company
on June 21, 2007. The Company covenants that it will reserve a sufficient number of shares of
Common Stock to satisfy its obligation to issue Common Stock upon the exercise of this Warrant
pursuant to the terms hereof. The Company covenants that all shares of Common Stock which shall be
issuable upon exercise of the Warrants and payment of the Exercise Price shall, at the time of
delivery, be duly and validly issued, fully paid, nonassessable and free from all taxes, liens and
charges with respect to the issue thereof (other than those which the Company shall promptly pay or
discharge).

     (b) The Company will use reasonable efforts to obtain appropriate approvals or registrations
under state “blue sky” securities laws with respect to the issuance of the Warrant and the Warrant
Shares; provided, however, that the Company shall not be obligated to file any
general consent to service of process or qualify as a foreign corporation in any jurisdiction.
With respect to any such state securities laws, however, Warrants may not be exercised by, or
shares

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of Common Stock issued to, any Registered Holder in any state in which such exercise would be
unlawful.

     (c) The Company shall pay all documentary, stamp or similar taxes and other governmental
charges that may be imposed with respect to the issuance of any Warrants or any Warrant Shares;
provided, however, that if the Warrant Shares are to be delivered in a name other
than the name of the Holder of the Warrant being exercised, then no such delivery shall be made
unless the person requesting the same has paid to the Company the amount of transfer taxes or
charges incident thereto, if any.

     4. Exchange, Transfer, Assignment or Loss of Warrant.

          (a) This Warrant is exchangeable, without expense, at the option of the Holder, upon
presentation and surrender hereof to the Company or at the office of its stock transfer agent, if
any, for other warrants of different denominations entitling the holder thereof to purchase in the
aggregate the same number of shares of Common Stock purchasable hereunder. Subject to compliance
with the conditions set forth herein and upon surrender of this Warrant to the Company at its
principal office with the form of Assignment annexed hereto as Annex II duly executed by the Holder
(which Assignment Form shall include a representation by the Holder to the Company that the
representations and warranties set forth in Section 8 are true and correct as of the date of such
exercise as if they had been made on such date with respect to the Warrant Shares issuable upon
such exercise) and funds sufficient to pay any transfer tax delivered by the Holder, the Company
shall, without charge, subject to the Holder’s compliance with the restrictive legend set forth on
the front page of this Warrant, execute and deliver a new Warrant in the name of the assignee named
in such instrument of assignment and this Warrant shall promptly be cancelled. This Warrant may be
divided or combined with other warrants that carry the same rights upon presentation hereof at the
principal office of the Company or at the office of its stock transfer agent, if any, together with
a written notice specifying the denominations in which new warrants are to be issued to the Holder
and signed by the Holder hereof. Upon receipt by the Company of evidence satisfactory to it of the
loss, theft, destruction or mutilation of this Warrant, and (in the case of loss, theft or
destruction) of reasonably satisfactory indemnification, and upon surrender and cancellation of
this Warrant, if mutilated, the Company will execute and deliver a new Warrant of like tenor and
date. Any such new Warrant executed and delivered shall constitute an additional contractual
obligation on the part of the Company, whether or not this Warrant so lost, stolen, destroyed, or
mutilated shall be at any time enforceable by anyone.

     (b) The Warrant Shares constitute “Registrable Common Stock” under the Registration Rights
Agreement dated as of June 27, 2007 by and between the Company, the Holder and CIT Real Estate
Holding Corporation. If, at the time of the surrender of this Warrant in connection with any
assignment of this Warrant, the transfer of this Warrant shall not be registered pursuant to an
effective registration statement under the Securities Act of 1933 (the “Securities Act”) and under
applicable state securities or blue sky laws, the Company may require, as a condition of allowing
such assignment (i) that the Holder or transferee of this Warrant, as the case may be, furnish to
the Company a written opinion of counsel to the Holder, which opinion shall be reasonably
acceptable to the Company and shall be in form, substance and scope customary for opinions of
counsel in comparable transactions, to the effect that such

4

 

transfer may be made without registration under the Securities Act and under applicable state
securities or blue sky laws, (ii) that the holder or transferee execute and deliver to the Company
an investment letter in form and substance acceptable to the Company and (iii) that the transferee
be an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), or (a)(8)
promulgated under the Securities Act or a qualified institutional buyer as defined in Rule 144A(a)
under the Securities Act.

     5. Anti-Dilution Provisions. The Exercise Price in effect at any time and the number and kind
of securities purchasable upon the exercise of this Warrant shall be subject to adjustment from
time to time upon the happening of certain events as follows:

          (a) In case the Company shall (i) declare a dividend or make a distribution on its outstanding
shares of Common Stock in shares of Common Stock, (ii) subdivide or reclassify its outstanding
shares of Common Stock into a greater number of shares or (iii) combine or reclassify its
outstanding shares of Common Stock into a smaller number of shares, then in each such case, (I) the
aggregate number of Warrant Shares for which this Warrant is exercisable immediately prior to such
event shall be adjusted (and any other appropriate actions shall be taken by the Company) so that
the Holder shall be entitled to receive upon exercise of this Warrant the number of shares of
Common Stock or other securities of the Company that it would have owned or would have been
entitled to receive upon or by reason of any of the events described above, had this Warrant been
exercised immediately prior to the occurrence of such event and (II) the Exercise Price in effect
at the time of such event shall be adjusted by multiplying the Exercise Price immediately prior to
such event by a fraction, the numerator of which shall be number of Warrant Shares issuable upon
the exercise of this Warrant immediately prior to such adjustment, and the denominator of which
shall be the number of Warrant Shares issuable upon exercise of this Warrant immediately after such
adjustment. Such adjustment shall be made successively whenever any event listed above shall
occur. An adjustment made pursuant to this Section 5(a) shall become effective retroactively (X)
in the case of any such dividend or distribution, to a date immediately following the close of
business on the record date for the determination of holders of shares of Common Stock entitled to
receive such dividend or distribution or (Y) in the case of any such subdivision, combination or
reclassification, to the close of business on the day upon which such corporate action becomes
effective.

     (b) In case of any reclassification, capital reorganization, exchange of shares, liquidation,
recapitalization or change of the Common Stock (other than as a result of a subdivision,
combination or stock dividend provided for in Section 5(a) hereof), or in case of any consolidation
or merger of the Company with or into another corporation or entity (other than a merger with a
subsidiary in which merger the Company is the continuing corporation and which does not result in
any reclassification or capital reorganization or change of the outstanding Common Stock) or in
case of any sale, lease or conveyance to another corporation or entity of all or substantially all
of the assets of the Company, then the Company shall, as a condition precedent to such transaction,
cause lawful and effective provisions to be made (and duly executed documents evidencing the same
from the Company or its successor shall be delivered to the Holder) so that the Holder shall have
the right thereafter upon exercise of this Warrant, to purchase the kind and amount of shares of
stock and other securities and property receivable upon such reclassification, capital
reorganization, exchange of shares, liquidation, recapitalization, change, consolidation, merger,
sale or conveyance by a holder of the number of

5

 

shares of Common Stock which might have been received upon conversion of this Warrant
immediately prior to such reclassification, capital reorganization, exchange of shares,
liquidation, recapitalization, change, consolidation, merger, sale or conveyance, and in any such
event, such provision shall include provision for adjustments which shall be as nearly equivalent
as may be practicable to the adjustments provided for herein. The Company shall not effect any
such consolidation, merger, sale, transfer or other disposition described above, unless prior to or
simultaneously with the consummation thereof the successor corporation (if other than the Company)
resulting from such consolidation or merger or the corporation purchasing or otherwise acquiring
such assets shall assume, by written instrument executed and mailed or delivered to the Holder of
this Warrant at the last address of the Holder appearing on the books of the Company, the
obligation to deliver to the Holder such shares of stock, securities, cash or properties as, in
accordance with the foregoing provisions, the Holder may be entitled to acquire. The above
provisions of this paragraph shall similarly apply to successive reorganizations,
reclassifications, exchanges, liquidations, recapitalizations, changes, consolidations, mergers,
sales, transfers or other dispositions, if any.

     (c) The Company shall promptly give written notice of any adjustment under this Section 5 to
each Holder of the Warrants.

     (d) Irrespective of any adjustments in the Exercise Price or the number or kind of shares of
Common Stock purchasable upon exercise of this Warrant, this Warrant may continue to express the
same price and number and kind of Warrant Shares as were stated prior to such adjustment. In all
events, appropriate adjustment (as determined in good faith by the Company’s Board of Directors)
shall be made in the application of the provisions of this Warrant with respect to the rights and
interests of the Holder after the transaction, to the end that the provisions of this Warrant shall
be applicable after that event, as near as reasonably may be, in relation to any shares or other
property deliverable after that event upon exercise of this Warrant.

     6. Fractional Warrants and Fractional Shares. The Company shall not be required to issue
fractions of shares, upon exercise of this Warrant or otherwise, or to distribute certificates that
evidence fractional shares. With respect to any fraction of a share called for upon any exercise of
this Warrant, the Company shall pay to the Holder an amount in cash equal to such fraction
multiplied by the current market value of such fractional share, determined in accordance with
Section 2(b) hereof, except that the price under clauses (i) and (ii) thereof shall be based on the
ten (10) trading days prior to the date of exercise of this Warrant.

     7. Warrant Holders Not Deemed Stockholders. The Holder shall not, as such, be entitled to
vote or to receive dividends or be deemed the holder of Common Stock that may at any time be
issuable upon exercise of this Warrant for any purpose whatsoever, nor shall anything contained
herein be construed to confer upon the Holder, as such, any of the rights of a stockholder of the
Company or any right to vote for the election of directors or upon any matter submitted to
stockholders at any meeting thereof, or to give or withhold consent to any corporate action
(whether upon any recapitalization, issue or reclassification of stock, change of par value or
change of stock to no par value, consolidation, merger or conveyance or otherwise), or to receive
notice of meetings, or to receive dividends or subscription rights, until the Holder shall have
exercised this Warrant and been issued shares of Common Stock in accordance with the provisions
hereof.

6

 

     8. Investment Intent; Limited Transferability.

          (a) The Holder represents, by accepting this Warrant, that it understands that this Warrant
and any securities obtainable upon exercise of this Warrant have not been registered for sale under
Federal or state securities or blue sky laws and are being offered and issued to the Holder
pursuant to one or more exemptions from the registration requirements of such securities laws. In
the absence of an effective registration of such securities or an exemption therefrom, any
certificates for such securities shall bear a legend substantially similar to the legend set forth
on the first page hereof. The Holder understands that it must bear the economic risk of its
investment in this Warrant and any securities obtainable upon exercise of this Warrant for an
indefinite period of time, as this Warrant and such securities have not been registered under
Federal or state securities or blue sky laws and therefore cannot be sold except as set forth in
Section 4.

     (b) The Holder represents that it has been afforded (i) the opportunity to ask such questions
as it has deemed necessary of, and to receive answers from, representatives of the Company
concerning the terms and conditions of this Warrant or the exercise of the Warrant and the
financial condition, operations and business of the Company; and (ii) the opportunity to request
such additional information which the Company possesses or can acquire without unreasonable effort
or expense. Nothing contained in this Section 8(b) shall alter, amend or change the Holder’s
reliance on the representations, covenants or warranties contained herein.

     (c) The Holder represents that it did not (i) receive or review any advertisement, article,
notice or other communication published in a newspaper or magazine or similar media or broadcast
over television or radio, whether closed circuit, or generally available, or (ii) attend any
seminar, meeting or investor or other conference whose attendees were, to such Holder’s knowledge,
invited by any general solicitation or general advertising.

     (d) The Holder represents that it is an “accredited investor” within the meaning of Regulation
D promulgated under the Securities Act and that it is acquiring the Warrants for its own account
and not with a present view to, or for sale in connection with, any distribution thereof in
violation of the registration requirements of the Securities Act, without prejudice, however, to
such Holder’s right, subject to the provisions of this Warrant, at all times to sell or otherwise
dispose of all or any part of the Warrant or Warrant Shares.

     (e) The Holder represents that it, either by reason of such Holder’s business or financial
experience or the business or financial experience of its professional advisors, has such
sophistication, knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of its investment in the Company and the capacity to protect such
Holder’s interests in connection with the transactions contemplated by this Warrant.

     (f) The Holder represents that it has the ability to bear the economic risks of its investment
for an indefinite period of time and could afford a complete loss of its investment.

     (g) The Holder agrees and acknowledges that the representations made by the Holder in this
Section 8 are conditions to the exercise of this Warrant.

7

 

     9. Entire Agreement. This Warrant constitutes the entire agreement between the Company and
the Holder with respect to the subject matter hereof and supersedes all prior agreements and
understandings with respect to the subject matter of this Warrant.

     10. Amendments. Any provision of this Warrant may be amended and the observance thereof
waived only with the written consent of the Company and the Holder.

     11. Governing Law. This Warrant shall be governed by and construed in accordance with the
laws of the State of New York, without giving effect to its conflict of laws rules, except to the
extent that the application of the General Corporation Law of the State of Maryland is required by
the laws of the State of Maryland.

     12. Notices, Etc. All notices, requests, consents and other communications hereunder shall be
in writing and shall be deemed to have been made when delivered personally, one business day after
being sent by overnight courier, and five business days after being mailed first class registered
or certified mail, postage prepaid as follows (i) if to the Holder, at the address of the Holder as
shown on the registry books maintained by the Company, or at such other address as the Holder shall
have furnished to the Company in writing, and (ii) if to the Company, to it at 505 Fifth Avenue,
Sixth Floor, New York, New York 10017, Attention: Chief Financial Officer, or at such other address
as the Company shall have furnished to the Holder.

     13. Severability. If any provision of this Warrant is held to be unenforceable under
applicable law, then such provision shall be excluded from this Warrant and the balance of this
Warrant shall be interpreted as if such provision were so excluded and shall be enforceable in
accordance with its terms. A court of competent jurisdiction, in its discretion, may substitute
for the excluded provision an enforceable provision which in economic substance reasonably
approximates the excluded provision.

     14. Waiver. The Company will not, by any voluntary action avoid or seek to avoid the
observance or performance of any of the terms to be observed or performed hereunder by the Company,
but will at all times in good faith assist in the carrying out of all provisions of this Warrant
and in the taking of all such action as may be necessary or appropriate in order to protect the
rights of the Holder of this Warrant against impairment.

8

 

     IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed, manually or in
facsimile by its officer thereunto duly authorized on the date set forth below.

	 	 	 	 	 
	 	CARE INVESTMENT TRUST INC.

 	 
	Dated:  September 30, 2008 	By:  	 	 
	 	 	Name:  	F. Scott Kellman 	 
	 	 	Title:  	Chief Executive Officer 	 
	 

9

 

ANNEX I

NOTICE OF EXERCISE

To Be Executed by the Holder

in Order to Exercise Warrants

          The undersigned Holder hereby irrevocably elects to exercise this Warrant to the extent of
purchasing
                                         shares of Common Stock of Care Investment Trust Inc., tenders
herewith payment of the exercise price in full, together with all applicable transfer taxes, if
any, and requests that certificates for such securities shall be issued in the name of:

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER

 

 

 

[please print or type name and address]

and be delivered to:

 

 

 

[please print or type name and address]

and if such Warrant is not be exercised in full, that a new Warrant to purchase the balance of
shares be registered in the name of, and delivered to, the Holder at the address stated below.

     As a condition to this exercise, the undersigned Holder hereby represents and warrants to the
Company that the representations and warranties set forth in Section 8 of the Warrant are true and
correct as of the date hereof as if they had been made on such date with respect to the Warrant
Shares. The undersigned Holder further acknowledges that the sale, transfer, assignment or
hypothecation of the Warrant Shares to be issued upon exercise of this Warrant is subject to the
terms and conditions contained in Sections 4 and 8 of this Warrant.

If Cashless Exercise pursuant to Section 2(b), check here ___, and indicate:

Number of
Warrant Shares to be Exchanged:                                         

	 	 	 	 	 	 	 
	Exchange Date:                                         	 	 	 	 
	 
	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 
	 

	 	 

	 	 

Name (please print)
	 	 
	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Address	 	 

 

 

	 	 	 	 	 	 	 
	 

	 	 	 	 

Signature
	 	 
	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

Taxpayer Identification Number
	 	 

 

 

ANNEX II

ASSIGNMENT

To Be Executed by the Holder

in Order to Assign Warrants

FOR VALUE RECEIVED,                                          hereby sells, assigns and transfers unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER

 

 

 

[please print or type name and address]

the right to purchase Common Stock of Care Investment Trust Inc. represented by this Warrant to the
extent of
                     shares, and hereby irrevocably constitutes and appoints
                                                                               
                                          
Attorney to transfer this Warrant on the books of
the Company, with full power of substitution in the premises. As a condition to this assignment,
the Holder acknowledges that its assignee must deliver a written instrument to the Company that the
representations and warranties of Section 8 of the Warrant are true and correct as of the date
hereof as if they had been made by such assignee on such date with respect to the Warrants.

Dated:                                                             

Signature:

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