Document:

EX-10.1 Subscription Agreement

 

    Exhibit
10.1

 

    SUBSCRIPTION
    AGREEMENT

 

    This Amended and Restated Subscription Agreement (this
    “Agreement”) is dated as of September 10,
    2008, among MBF Healthcare Acquisition Corp., a Delaware
    corporation (the “Company”), and MBF Healthcare
    Partners, L.P. (“Purchaser”).

 

    WHEREAS, subject to the terms and conditions set forth in this
    Agreement and pursuant to Section 4(2) of the Securities
    Act (as defined below) and Rule 506 promulgated thereunder,
    the Company desires to issue and sell to the Purchaser, and the
    Purchaser desires to purchase from the Company certain
    securities of the Company, as more fully described in this
    Agreement.

 

    NOW, THEREFORE, IN CONSIDERATION of the mutual covenants
    contained in this Agreement, and for other good and valuable
    consideration the receipt and adequacy of which are hereby
    acknowledged, the Company and the Purchasers agree as follows:

 

    ARTICLE I

    

 

    DEFINITIONS
    

 

    1.1 Definitions. In addition to the terms defined
    elsewhere in this Agreement, for all purposes of this Agreement,
    the following terms shall have the meanings indicated in this
    Section 1.1:

 

    “Action” means any action, suit, inquiry,
    notice of violation, proceeding (including any partial
    proceeding such as a deposition) or investigation pending or
    threatened in writing against or affecting the Company or any of
    its respective properties before or by any court, arbitrator,
    governmental or administrative agency, regulatory authority
    (federal, state, county, local or foreign), stock market, stock
    exchange or trading facility.

 

    “Affiliate” means any Person that, directly or
    indirectly through one or more intermediaries, controls or is
    controlled by or is under common control with a Person, as such
    terms are used in and construed under Rule 144.

 

    “Aggregate Investment Amount” means an amount
    equal to (i) $20,400,000 plus (ii) Remainder
    Amount plus (iii) one-half of the Initial Shortfall
    Amount (if any) plus (iv) the Secondary Shortfall Amount
    (if any) multiplied by five-twelfths (5/12).

 

    “Business Day” means any day except Saturday,
    Sunday and any day which shall be a federal legal holiday or a
    day on which banking institutions in the State of New York are
    authorized or required by law or other governmental action to
    close.

 

    “CHS” has the meaning ascribed to such term in
    the definition of the CHS Transaction.

 

    “CHS Transaction” means the purchase by the
    Company of all of the issued and outstanding capital stock of
    Critical Homecare Solutions Holdings, Inc., a Delaware
    corporation (“CHS”), pursuant to a Stock
    Purchase Agreement by and among the Company, CHS, Kohlberg
    Investors V, L.P., a Delaware limited partnership, as
    Sellers’ representative, and the Purchasers (as amended and
    modified from time to time, the “Stock Purchase
    Agreement”).

 

    “Closing” means the closing of the purchase and
    sale of the Shares pursuant to Section 2.1.

 

    “Closing Date” means the date of the Closing,
    which date shall be the same day upon which the closing of the
    CHS Transaction occurs, following the satisfaction of each of
    the conditions applicable to the Closing as set forth in
    Section 2.2 hereof.

 

    “Commission” means the Securities and Exchange
    Commission.

 

    “Common Stock” means the common stock of the
    Company, $0.0001 par value per share.

    

    1

 

 

    “Disclosure Package” means (i) the
    Prospectus and (ii) each “free writing
    prospectus” as defined in Rule 405 promulgated under
    the Securities Act.

 

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

 

    “Filing Date” means, with respect to the
    Registration Statement required to be filed hereunder
    (i) the 30th calendar day following the Closing Date
    with respect to the Shares and (ii) the 30th calendar
    day following the issuance of any Share Amount Shares.

 

    “Initial Shortfall Amount” means, if the funds
    necessary to consummate the transactions contemplated by the
    Stock Purchase Agreement as mutually determined by the
    Sellers’ Representative and the Company is greater than
    zero, the lesser of (i) $6,000,000 and (ii) the amount
    of funds necessary to consummate the transactions contemplated
    by the Stock Purchase Agreement as mutually determined by the
    Sellers’ Representative and the Company.

 

    “Lien” means any lien, charge, encumbrance,
    security interest, right of first refusal, preemptive right or
    other restrictions of any kind.

 

    “Material Adverse Effect” means a material
    adverse effect on the business, results of operations,
    properties or assets of the Company; provided,
    however, that “Material Adverse Effect”
    shall not include the impact on such business, results of
    operations, properties or assets arising out of or attributable
    to (i) effects or conditions resulting from an outbreak or
    escalation of hostilities, acts of terrorism, political
    instability or other national or international calamity, crisis
    or emergency, or any governmental or other response to any of
    the foregoing, in each case whether or not involving the United
    States (in each case, that do not disproportionately affect the
    Company relative to other businesses in the industry in which
    the Company operates), (ii) effects arising from changes in
    laws or GAAP, (iii) effects relating to the announcement of
    the execution of this Agreement or the transactions contemplated
    hereby, or (iv) effects resulting from compliance with the
    terms and conditions of this Agreement or the Stock Purchase
    Agreement by the Company.

 

    “Per Share Purchase Price” means the greater
    of: (i) the average closing sales price of the Common Stock
    for the ten consecutive Trading Days prior to the Closing Date
    or (ii) the price at which a holder of Common Stock would
    be entitled to have a single share of Common Stock converted,
    assuming (a) such holder had voted against the CHS
    Transaction and elected to have his shares of Common Stock
    converted pursuant to the terms of the Company’s Amended
    and Restated Certificate of Incorporation and (b) all other
    conditions precedent to such conversion had occurred.

 

    “Person” means an individual or corporation,
    partnership, trust, incorporated or unincorporated association,
    joint venture, limited liability company, joint stock company,
    government (or an agency or subdivision thereof) or other entity
    of any kind.

 

    “Plan” means that certain
    Rule 10b5-1
    Purchase Plan, dated May 15, 2007, by and among the
    Purchaser, the Company and Wachovia Capital Markets, LLC.

 

    “Prospectus” means the prospectus included in
    the Registration Statement (including, without limitation, a
    prospectus that includes any information previously omitted from
    a prospectus filed as part of an effective registration
    statement in reliance upon Rule 430A promulgated under the
    Securities Act), as amended or supplemented by any prospectus
    supplement, with respect to the terms of the offering of any
    portion of the Shares covered by the Registration Statement, and
    all other amendments and supplements to the Prospectus,
    including post-effective amendments, and all material
    incorporated by reference or deemed to be incorporated by
    reference in such Prospectus.

 

    “Registration Statement” means the registration
    statement required to be filed hereunder, including the
    Prospectus, amendments and supplements to the registration
    statement or Prospectus, including pre- and post-effective
    amendments, all exhibits thereto, and all material incorporated
    by reference or deemed to be incorporated by reference in the
    Registration Statement.

    

    2

 

 

    “Remainder Amount” means an amount equal to the
    funds remaining in the Account (as such term is defined in the
    Plan) immediately after the termination of the Plan.

 

    “Rule 144” means Rule 144 promulgated
    by the Commission pursuant to the Securities Act, as such Rule
    may be amended from time to time, or, to the extent replaced,
    the comparable successor thereto.

 

    “Rule 415” means Rule 415 promulgated
    by the Commission pursuant to the Securities Act, as such Rule
    may be amended from time to time, or, to the extent replaced,
    the comparable successor thereto.

 

    “Rule 424” means Rule 424 promulgated
    by the Commission pursuant to the Securities Act, as such Rule
    may be amended from time to time, or, to the extent replaced,
    the comparable successor thereto.

 

    “Secondary Shortfall Amount” means, if the
    Initial Shortfall Amount is $6,000,000 the lesser of
    (i) $12,000,0000 and (ii) the amount of funds
    necessary to consummate the transactions contemplated by the
    Stock Purchase Agreement as mutually determined by the Company
    and the Sellers’ Representative less $6,000,000.

 

    “SEC Reports” shall have the meaning ascribed
    to such term in Section 3.1(g).

 

    “Securities” means the Shares.

 

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

 

    “Sellers’ Representative” has the meaning
    ascribed to such term in the Stock Purchase Agreement.

 

    “Shares” means the shares of Common Stock
    issued or issuable to the Purchasers pursuant to this Agreement.

 

    “Stock Purchase Agreement” has the meaning
    ascribed to such term in the definition of CHS Transaction.

 

    “Trading Day” means (i) a day on which the
    Common Stock is traded on a Trading Market, or (ii) if the
    Common Stock is not listed or admitted for trading on a Trading
    Market, a day on which the Common Stock is traded in the
    over-the-counter market is quoted in the over-the-counter market
    as reported by the National Quotation Bureau Incorporated (or
    any similar organization or agency succeeding to its functions
    of reporting prices); provided, that in the event that the
    Common Stock is not listed or quoted as set forth in (i) or
    (ii) hereof, then Trading Day shall mean a Business Day.

 

    “Trading Market” means the American Stock
    Exchange (“AMEX”) or, if the Company’s
    Common Stock is not listed on AMEX, such other exchange or
    quotation system on which the Common Stock is listed or quoted
    for trading on the date in question.

 

    “Transaction Documents” means this Agreement,
    the Escrow Agreement and any other documents or agreements
    executed in connection with the transactions contemplated
    hereunder.

 

    ARTICLE II

    

 

    PURCHASE AND
    SALE
    

 

    2.1 Closing; Escrow.  Subject to the terms
    and conditions set forth in this Agreement, at the Closing the
    Company shall issue and sell to the Purchaser, and the Purchaser
    shall purchase from the Company, the Shares representing the
    Aggregate Investment Amount. Promptly upon the satisfaction of
    each of the applicable conditions set forth in Section 2.2,
    the Closing shall occur at the offices of Akerman Senterfitt,
    One Southeast 3rd Avenue, Suite 2500, Miami, Florida
    33131 or at such other location or time as the parties shall
    mutually agree.

 

    2.2 Closing Conditions.

 

    (a) At the Closing, the Company shall deliver or cause to
    be delivered to the Purchaser a certificate evidencing a number
    of Shares registered in the name of the Purchaser or a
    book-entry transfer of the Shares to the Purchaser equal to
    Aggregate Investment Amount divided by the Per Share Purchase
    Price.

    

    3

 

 

    (b) The obligations of each party at the Closing to
    consummate the transactions contemplated at the Closing shall be
    subject to the satisfaction or waiver of all of the conditions
    to closing the CHS Transaction set forth in the Stock Purchase
    Agreement.

 

    ARTICLE III

    

 

    REPRESENTATIONS
    AND WARRANTIES
    

 

    3.1 Representations and Warranties of the
    Company.  The Company hereby makes the following
    representations and warranties to the Purchaser:

 

    (a) Organization and Qualification.  The
    Company is an entity duly incorporated, validly existing and in
    good standing under the laws of the State of Delaware, with the
    requisite power and authority to own and use its properties and
    assets and to carry on its business as currently conducted. The
    Company is not in violation of any of the provisions of its
    certificate of incorporation or bylaws. The Company is duly
    qualified to conduct business and is in good standing as a
    foreign corporation in each jurisdiction in which the nature of
    the business conducted or property owned by it makes such
    qualification necessary, except where the failure to be so
    qualified or in good standing, as the case may be, would not,
    individually or in the aggregate, reasonably be expected to
    result in a Material Adverse Effect and no Action has been
    instituted in any such jurisdiction revoking, limiting or
    curtailing or seeking to revoke, limit or curtail such power and
    authority or qualification.

 

    (b) Authorization; Enforcement.  Other
    than the Buyer Stockholder Approval (as such term is defined in
    the Stock Purchase Agreement), the Company has all requisite
    corporate power and authority, and has taken all requisite
    corporate action to enter into and to consummate the
    transactions contemplated by each of the Transaction Documents
    and otherwise to carry out its obligations thereunder. The
    execution and delivery of each of the Transaction Documents by
    the Company and the consummation by it of the transactions
    contemplated thereby have been duly authorized by all necessary
    action on the part of the Company and no further action is
    required by the Company in connection therewith, except for the
    Buyer Stockholder Approval. Each Transaction Document has been
    (or upon delivery will have been) duly executed by the Company
    and, when delivered in accordance with the terms hereof, will
    constitute the valid and binding obligation of the Company
    enforceable against the Company in accordance with its terms,
    except as limited by (i) applicable bankruptcy, insolvency,
    reorganization, moratorium and other laws of general application
    affecting enforcement of creditors’ rights generally and
    (ii) general principles of equity.

 

    (c) No Conflicts.  Other than the Buyer
    Stockholder Approval, the execution, delivery and performance of
    the Transaction Documents by the Company and the consummation by
    the Company of the transactions contemplated thereby do not and
    will not (i) conflict with or violate any provision of the
    Company’s certificate of incorporation or bylaws, or
    (ii) conflict with, or constitute a default (or an event
    that with notice or lapse of time or both would become a
    default) under, or give to others any rights of termination,
    amendment, acceleration or cancellation (with or without notice,
    lapse of time or both) of, any agreement, credit facility, debt
    or other instrument (evidencing a Company debt or otherwise) or
    other understanding to which the Company is a party or by which
    any property or asset of the Company is bound or affected, or
    (iii) result in a violation of any law, rule, regulation,
    order, judgment, injunction, decree or other restriction of any
    court or governmental authority to which the Company is subject
    (including federal and state securities laws and regulations),
    or by which any property or asset of the Company is bound or
    affected; except in the case of clause (iii), such as would not,
    individually or in the aggregate, reasonably be expected to be
    material to the business or the operation of the Company or
    materially impair the Company’s ability to consummate the
    transaction contemplated hereby.

 

    (d) Filings, Consents and
    Approvals.  Other than the Buyer Stockholder
    Approval, the Company is not required to obtain any consent,
    waiver, authorization or order of, give any notice to, or make
    any filing or registration with, any court or other federal,
    state, local or other governmental authority or other Person in
    connection with the execution, delivery and performance by the
    Company of the Transaction

    

    4

 

     Documents, other than (i) the filing of Form D with
    the Commission and such filings required by state securities
    laws, which the Company will promptly and timely make, and
    (ii) such other filings as may be required following the
    Closing Date under the Securities Act and the Exchange Act.

 

    (e) Issuance of the Securities.  The
    Shares have been duly authorized and, when issued and paid for
    in accordance with the Transaction Documents, will be duly and
    validly issued, fully paid and nonassessable, free and clear of
    all Liens and preemptive rights. The Company has reserved from
    its duly authorized capital stock all of the Shares issuable
    pursuant to this Agreement.

 

    (f) Capitalization.  The capitalization of
    the Company conforms as to legal matters to the description
    thereof contained in the Company’s most recent periodic
    report filed with the Commission at least two Business Days
    prior to the date hereof. No securities of the Company are
    entitled to preemptive or similar rights, and no Person has any
    right of first refusal, preemptive right, right of
    participation, or any similar right to participate in the
    transactions contemplated by the Transaction Documents. The
    Company has no authorized or outstanding bonds, debentures,
    notes or other indebtedness the holders of which have the right
    to vote (or convertible into, exchangeable for, or evidencing
    the right to subscribe for or acquire securities having the
    right to vote). All of the outstanding shares of capital stock
    of the Company are validly issued, fully paid and nonassessable,
    have been issued in compliance with all federal and state
    securities laws, and none of such outstanding shares was issued
    in violation of any preemptive rights or similar rights to
    subscribe for or purchase securities. In connection with the CHS
    Transaction, on the Closing Date, the Company will issue shares
    of common stock pursuant to private transactions and such shares
    shall be sold at a price per share no less than the Per Share
    Purchase Price. Other than the Buyer Stockholder Approval, no
    further approval or authorization of any stockholder, the Board
    of Directors of the Company or others is required for the
    issuance and sale of the Shares. Except as disclosed in the SEC
    Reports, there are no stockholders agreements, voting agreements
    or other similar agreements with respect to the Company’s
    capital stock to which the Company is a party or, to the
    knowledge of the Company, between or among any of the
    Company’s stockholders.

 

    (g) SEC Reports; Financial
    Statements.  The Company has filed all reports,
    registrations, schedules, forms, statements and other documents
    required to be filed by it under the Securities Act and the
    Exchange Act, including pursuant to Section 13(a) or 15(d)
    thereof, or with any Governmental Authority, for the twelve
    months preceding the date hereof (or such shorter period as the
    Company was required by law to file such reports) (the foregoing
    materials being collectively referred to herein as the
    “SEC Reports”) on a timely basis or has timely
    filed a valid extension of such time of filing and has filed any
    such SEC Reports prior to the expiration of any such extension.
    As of their respective dates, the SEC Reports complied in all
    material respects with the requirements of the Securities Act
    and the Exchange Act and the rules and regulations of the
    Commission promulgated thereunder, and the rules and regulations
    of any other Governmental Authority with which the SEC Reports
    were made or should have been made, and none of the SEC Reports,
    when filed, contained any untrue statement of a material fact or
    omitted to state a material fact required to be stated therein
    or necessary in order to make the statements therein, in light
    of the circumstances under which they were made, not misleading.
    The financial statements of the Company included in the SEC
    Reports comply in all material respects with the rules and
    regulations of the Commission with respect thereto as in effect
    at the time of filing. Such financial statements have been
    prepared in accordance with generally accepted accounting
    principles applied on a consistent basis during the periods
    involved (“GAAP”), except as may be otherwise
    specified in such financial statements or the notes thereto and
    except that unaudited financial statements may not contain all
    footnotes required by GAAP, and fairly present in all material
    respects the financial position of the Company and its
    consolidated subsidiaries as of and for the dates thereof and
    the results of operations and cash flows for the periods then
    ended, subject, in the case of unaudited statements, to normal,
    immaterial, year-end audit adjustments.

    

    5

 

 

    3.2 Representations and Warranties of the
    Purchasers.   The Purchaser hereby represents and
    warrants to the Company as follows:

 

    (a) Organization; Authority.  The
    Purchaser is (i) an entity duly organized, validly existing
    and in good standing under the laws of the jurisdiction of its
    organization to enter into and to consummate the transactions
    contemplated by the applicable Transaction Documents and
    otherwise to carry out its, his or her obligations thereunder.
    The execution, delivery and performance by the Purchaser of the
    transactions contemplated by this Agreement has been duly
    authorized by all necessary partnership action, on the part of
    the Purchaser. This Agreement has been duly executed by the
    Purchaser, and when delivered by the Purchaser in accordance
    with terms hereof, will constitute the valid and legally binding
    obligation of the Purchaser, enforceable against it in
    accordance with its terms, except (i) as limited by
    applicable bankruptcy, insolvency, reorganization, or similar
    laws relating to or affecting the enforcement of creditors’
    rights generally and (ii) as limited by equitable
    principles generally.

 

    (b) Investment Intent.  The Purchaser
    understands that the Shares are “restricted
    securities” and have not been registered under the
    Securities Act or any applicable state securities law and is
    acquiring the Shares as principal for its own account for
    investment purposes only and not with a present view to or for
    distributing or reselling such Shares or any part thereof, has
    no present intention of distributing any of such Shares, other
    than as set forth herein, and has no arrangement or
    understanding with any other person or persons regarding the
    distribution of such Shares (this representation and warranty
    not limiting the Purchaser’s right to sell the Shares in
    compliance with applicable federal and state securities laws).
    The Purchaser has not engaged, during the one month prior to the
    date of this Agreement, in any short sales with respect to the
    Common Stock. The Purchaser further represents that, between the
    time it became aware of the transactions contemplated by this
    Agreement and the public announcement of this Agreement or the
    termination hereof, it has not engaged and will not engage in
    any trades, whether purchases, sales, short sales or otherwise,
    with respect to the Common Stock or any other security of the
    Company.

 

    (c) Purchaser Status/Residence.  At the
    time the Purchaser was offered the Shares, it was, and at the
    date hereof it is an “accredited investor” as defined
    in Rule 501(a) under the Securities Act. The Purchaser is
    not a registered broker-dealer under Section 15 of the
    Exchange Act. It has been organized under the laws of the state
    or country set forth opposite its name on signature page.

 

    (d) Experience of The Purchaser.  The
    Purchaser, either alone or together with its representatives,
    has such knowledge, sophistication and experience in business
    and financial matters so as to be capable of evaluating the
    merits and risks of the prospective investment in the Shares,
    and has so evaluated the merits and risks of such investment.
    The Purchaser is able to bear the economic risk of an investment
    in the Shares and is able to afford a complete loss of such
    investment. The Purchaser acknowledges that it is familiar with,
    and that the Company has made no statements, representations or
    warranties regarding, the assets and liabilities, the financial
    condition and prospects of CHS.

 

    (e) General Solicitation.  The Purchaser
    is not purchasing the Shares as a result of any advertisement,
    article, notice or other communication regarding the Shares
    published in any newspaper, magazine or similar media or
    broadcast over television or radio or presented at any seminar
    or any other general solicitation or general advertisement.

 

    (f) Access to Information.  The Purchaser
    acknowledges that it has reviewed the SEC Reports and 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 the offering of the Shares and the merits and
    risks of investing in the Shares; (ii) the opportunity to
    have access to information about the Company and its financial
    condition, results of operations, business, properties,
    management and prospects sufficient to enable it to evaluate its
    investment; and (iii) the opportunity to obtain such
    additional information that the Company possesses or can acquire
    without unreasonable effort or expense that is necessary to make
    an informed investment decision with respect to the investment.
    Neither such inquiries nor any other investigation conducted by
    or on behalf of the Purchaser or its representatives or counsel,
    nor any other provision in any Transaction Document or the Stock
    Purchase

    

    6

 

     Agreement, shall modify, amend or affect the Purchaser’s
    right to rely on the truth, accuracy and completeness of the SEC
    Reports and the Company’s representations and warranties
    contained in the Transaction Documents.

 

    (g) Exemptions from Registration.  The
    Purchaser understands that the Shares are being offered and will
    be sold to it in reliance on specific exemptions from the
    registration requirements of the United States federal and state
    securities laws and that the Company is relying upon the truth
    and accuracy of, and the Purchaser’s compliance with, the
    representations and warranties of the Purchaser set forth herein
    in order to determine the availability of such exemptions and
    the eligibility of the Purchaser to acquire such Shares.

 

    (h) No Governmental Approval.  The
    Purchaser understands that no United States federal or state
    agency or any other government or governmental agency has passed
    on or made any recommendation or endorsement of the Shares or
    the fairness or suitability of the investment in the Shares by
    the Purchaser nor have such authorities passed upon or endorsed
    the merits of the offering of the Shares.

 

    (i) Unregistered Shares.  The Purchaser
    understands that the Shares have not been registered under the
    Act or any state securities laws and may not be offered for
    sale, sold, assigned or transferred unless (i) subsequently
    registered thereunder or (ii) sold in reliance on an
    exemption therefrom.

 

    (j) No Tax or Legal Advice.  The Purchaser
    understands that nothing in this Agreement, any other
    Transaction Document or any other materials presented to the
    Purchaser in connection with the purchase and sale of the Shares
    constitutes legal, tax or investment advice. The Purchaser has
    consulted such legal, tax and investment advisors as it, in its
    sole discretion, has deemed necessary or appropriate in
    connection with its purchase of Shares.

 

    ARTICLE IV

    

 

    OTHER
    AGREEMENTS OF THE PARTIES
    

 

    4.1 Transfer.

 

    (a) In connection with any transfer of the Shares other
    than pursuant to an effective registration statement or
    Rule 144, to the Company or to an Affiliate of the
    Purchaser, the Company may require the transferor thereof to
    provide to the Company an opinion of counsel selected by the
    transferor, the form and substance of which opinion shall be
    reasonably satisfactory to the Company, to the effect that such
    transfer does not require registration of such transferred
    Shares under the Securities Act. As a condition of transfer, any
    such transferee shall agree in writing to be bound by the terms
    of this Agreement and shall have the rights of the Purchaser
    under this Agreement.

 

    (b) Certificates evidencing the Shares will contain the
    following legend, until such time as they are not required under
    Section 4.1(c):

 

    THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
    REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
    APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE
    OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE
    OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER
    THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE
    SECURITIES LAWS, OR AN OPINION OF COUNSEL, IN A
    FORM REASONABLY SATISFACTORY TO MBF HEALTHCARE ACQUISITION
    CORP., THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR
    APPLICABLE STATE SECURITIES LAWS.

 

    (c) The Purchaser agrees that the removal of the
    restrictive legend from certificates representing Shares as set
    forth in this Section 4.1 is predicated upon the
    Company’s reliance that the Purchaser will sell any Shares
    pursuant to either the registration requirements of the
    Securities Act, including any applicable prospectus delivery
    requirements, or an exemption therefrom.

    

    7

 

 

    4.2 Furnishing of Information.   As long
    as the Purchaser owns the Shares, the Company covenants to
    timely file (or obtain extensions in respect thereof and file
    within the applicable grace period) all reports required to be
    filed by the Company after the date hereof pursuant to the
    Exchange Act. As long as the Purchaser owns Shares, if the
    Company is not required to file reports pursuant to such laws,
    it will prepare and furnish to the Purchaser and make publicly
    available in accordance with Rule 144(c) such information
    as is required for the Purchaser to sell such Shares under
    Rule 144. The Company further covenants that it will take
    such further action as any holder of Shares may reasonably
    request, all to the extent required from time to time to enable
    such Person to sell such Shares without registration under the
    Securities Act within the limitation of the exemptions provided
    by Rule 144.

 

    4.3 Securities Laws Disclosure;
    Publicity.  By 8:30 a.m. (New York time) on
    the fourth Business Day following the date of this Agreement,
    the Company shall issue a press release reasonably acceptable to
    the Purchaser disclosing the transactions contemplated hereby
    and file a Current Report on
    Form 8-K
    disclosing the material terms of the transactions contemplated
    hereby. In addition, the Company will make such other filings
    and notices in the manner and time required by the Commission
    and the Trading Market on which the Common Stock is listed.
    Notwithstanding the foregoing, nothing herein shall prevent the
    Company from selling Shares to additional purchasers, provided
    that, the Company shall make the filings and disclosures as
    required by this Section 4.3, to the extent required by law.

 

    4.4 Non-Public Information.  The Company
    covenants and agrees that, following the termination of the
    existing confidentiality agreements between the Company and the
    Purchaser, neither it nor any other Person acting on its behalf
    will provide the Purchaser or its agents or counsel with any
    information that the Company reasonably believes constitutes
    material non-public information, unless prior thereto the
    Purchaser shall have executed a written agreement regarding the
    confidentiality and use of such information. The Company
    understands and confirms that the Purchaser shall be relying on
    the foregoing representations in effecting transactions in
    securities of the Company. A definitive proxy statement will be
    delivered in connection with the CHS Transaction that will
    publicly disclose all of the material written information
    heretofore provided to the Purchaser by the Company with respect
    to the Company.

 

    4.5 Reservation of Stock.  As of the date
    hereof, the Company has reserved and the Company shall continue
    to reserve and keep available at all times, free of preemptive
    rights, a sufficient number of shares of Common Stock for the
    purpose of enabling the Company to issue Shares pursuant to this
    Agreement.

 

    4.6 Listing of Common Stock.  The Company
    hereby agrees to use commercially reasonably efforts to maintain
    the listing of the Common Stock on the Trading Market.

 

    4.7 Registration of Shares.

 

    (a) On or prior to the Filing Date, the Company shall
    prepare and file with the Commission a Registration Statement
    covering the resale of all of the Shares and any shares of
    Common Stock that may be issued to the Purchaser as the Share
    Amount paid under the letter agreement between the Company and
    the Purchaser dated as of the date hereof (the “Share
    Amount Shares” and together with the Shares, the
    “Registrable Shares”) for an offering to be
    made on a continuous basis pursuant to Rule 415, or if
    Rule 415 is not available for offers or sales of the
    Registrable Shares, for such other means of distribution of
    Registrable Shares as the Purchaser may specify. The
    Registration Statement required hereunder shall be on
    Form S-3
    (except if the Company is not then eligible to register for
    resale the Registrable Shares on
    Form S-3,
    in which case the registration shall be on another appropriate
    form in accordance herewith). The Company is eligible to
    register for resale the Registrable Shares on
    Form S-3.
    The Company shall use its commercially reasonable efforts to
    cause the Registration Statement to be declared effective under
    the Securities Act as promptly as possible after the filing
    thereof, and shall use its commercially reasonable efforts to
    keep such Registration Statement continuously effective under
    the Securities Act (including the filing of any necessary
    amendments, post-effective amendments and supplements) until
    such date when all of the Registrable Shares (i) have been
    sold or (ii) may be sold free of volume restrictions
    pursuant to Rule 144 promulgated under the Securities Act,
    as determined by the counsel to the Company pursuant to a
    written opinion letter to such effect, addressed and reasonably
    acceptable to the Company’s transfer agent and the
    Purchaser. The Company shall as promptly as possible

    

    8

 

     telephonically request effectiveness of the Registration
    Statement as of 5:00 pm Eastern Time on a Trading Day. The
    Company shall immediately notify the Purchaser via facsimile of
    the effectiveness of a Registration Statement on the same
    Trading Day that the Company telephonically confirms
    effectiveness with the Commission, which shall be the date
    requested for effectiveness of the Registration Statement. The
    Company shall, by 5:30 pm Eastern Time on the Trading Day after
    the day the Commission declares the Registration Statement
    effective, file a Rule 424(b) prospectus with the Commission.

 

    (b) The Company shall pay all expenses arising from or
    incident to its performance of, or compliance with,
    Section 4.7 of this Agreement, including, without
    limitation, (i) Commission, stock exchange and Financial
    Industry Regulatory Authority registration and filing fees,
    (ii) all fees and expenses incurred in complying with
    securities or “blue sky” laws (including reasonable
    fees, charges and disbursements of counsel to any underwriter
    incurred in connection with “blue sky” qualifications
    of the Registrable Shares as may be set forth in any
    underwriting agreement), (iii) all printing, messenger and
    delivery expenses, (iv) the fees, charges and expenses of
    one counsel to the Purchaser not to exceed $25,000, any
    necessary counsel with respect to state securities law matters,
    counsel to the Company and of its independent public
    accountants, and any other accounting fees, charges and expenses
    incurred by the Company (including, without limitation, any
    expenses arising from any “cold comfort” letters or
    any special audits incident to or required by any registration
    or qualification) and any legal fees, charges and expenses
    incurred by the Purchaser, as the case may be, and (v) any
    liability insurance or other premiums for insurance obtained in
    connection with the registration contemplated by
    Section 4.7 of this Agreement, regardless of whether the
    Registration Statement is declared effective. All of the
    expenses described in the preceding sentence of this
    Section 4.7 are referred to herein as “Registration
    Expenses.”

 

    (c) The Company agrees to indemnify and hold harmless the
    Purchaser and, to the extent the Purchaser is an entity, its
    partners, directors, officers, affiliates, stockholders,
    members, employees, trustees and each Person who controls
    (within the meaning of Section 15 of the Securities Act)
    the Purchaser from and against any and all losses, claims,
    damages, liabilities and expenses, or any action or proceeding
    in respect thereof (including reasonable costs of investigation
    and reasonable attorneys’ fees and expenses) (each, a
    “Liability” and collectively,
    “Liabilities”), arising out of or based upon
    (a) any untrue, or allegedly untrue, statement of a
    material fact contained in the Disclosure Package, the
    Registration Statement, the Prospectus, any Free Writing
    Prospectus or in any amendment or supplement thereto; and
    (b) the omission or alleged omission to state in the
    Disclosure Package, the Registration Statement, the Prospectus,
    any Free Writing Prospectus or in any amendment or supplement
    thereto any material fact required to be stated therein or
    necessary to make the statements therein not misleading under
    the circumstances such statements were made; provided, however,
    that the Company shall not be held liable in any such case to
    the extent that any such Liability arises out of or is based
    upon an untrue statement or alleged untrue statement or omission
    or alleged omission contained in such Disclosure Package,
    Registration Statement, Prospectus, Free Writing Prospectus or
    such amendment or supplement thereto in reliance upon and in
    conformity with information concerning the Purchaser furnished
    in writing to the Company by or on behalf of the Purchaser
    expressly for use therein.

 

    (d) Any person or entity entitled to indemnification or
    contribution hereunder (the “Indemnified
    Party”) agrees to give prompt written notice to the
    indemnifying party (the “Indemnifying Party”)
    after the receipt by the Indemnified Party of any written notice
    of the commencement of any action, suit, proceeding or
    investigation or threat thereof made in writing for which the
    Indemnified Party intends to claim indemnification or
    contribution pursuant to this Agreement; provided, however, that
    the failure to so notify the Indemnifying Party shall not
    relieve the Indemnifying Party of any Liability that it may have
    to the Indemnified Party hereunder (except to the extent that
    the Indemnifying Party forfeits substantive rights or defenses
    by reason of such failure). If notice of commencement of any
    such action is given to the Indemnifying Party as above
    provided, the Indemnifying Party shall be entitled to
    participate in and, to the extent it may wish, jointly with any
    other Indemnifying Party similarly notified, to assume the
    defense of such action at its own expense, with counsel chosen
    by it and reasonably satisfactory to such Indemnified Party.
    Each Indemnified Party shall have the right to employ separate
    counsel in any such action and participate in the defense
    thereof, but the reasonable and documented out of pocket fees

    

    9

 

     and expenses of such counsel shall be paid by the Indemnified
    Party unless (i) the Indemnifying Party agrees to pay the
    same, (ii) the Indemnifying Party fails to assume the
    defense of such action with counsel reasonably satisfactory to
    the Indemnified Party or (iii) the named parties to any
    such action (including any impleaded parties) include both the
    Indemnifying Party and the Indemnified Party and such parties
    have been advised by such counsel that either
    (x) representation of such Indemnified Party and the
    Indemnifying Party by the same counsel would be inappropriate
    under applicable standards of professional conduct or
    (y) there may be one or more legal defenses available to
    the Indemnified Party which are different from or additional to
    those available to the Indemnifying Party. In any of such cases,
    the Indemnifying Party shall not have the right to assume the
    defense of such action on behalf of such Indemnified Party, it
    being understood, however, that the Indemnifying Party shall not
    be liable for the fees and expenses of more than one separate
    firm of attorneys (in addition to any local counsel) for all
    Indemnified Parties and all fees and expenses shall be
    reimbursed as incurred. No Indemnifying Party shall be liable
    for any settlement entered into without its written consent,
    which consent shall not be unreasonably withheld. No
    Indemnifying Party shall, without the consent of such
    Indemnified Party, effect any settlement of any pending or
    threatened proceeding in respect of which such Indemnified Party
    is a party and indemnity has been sought hereunder by such
    Indemnified Party, unless such settlement includes an
    unconditional release of such Indemnified Party from all
    liability for claims that are the subject matter of such
    proceeding. Notwithstanding the foregoing, if at any time an
    Indemnified Party shall have requested the Indemnifying Party to
    reimburse the Indemnified Party for fees and expenses of counsel
    as contemplated by this Section 4.7, the Indemnifying Party
    agrees that it shall be liable for any settlement of any
    proceeding effected without the Indemnifying Party’s
    written consent if (i) such settlement is entered into more
    than thirty (30) business days after receipt by the
    Indemnifying Party of the aforesaid request and (ii) the
    Indemnifying Party shall not have reimbursed the Indemnified
    Party in accordance with such request or contested the
    reasonableness of such fees and expenses prior to the date of
    such settlement.

 

    (e) If the indemnification provided for in this
    Section 4.7 from the Indemnifying Party is unavailable to
    an Indemnified Party hereunder or insufficient to hold harmless
    an Indemnified Party in respect of any Liabilities referred to
    herein, then the Indemnifying Party, in lieu of indemnifying
    such Indemnified Party, shall contribute to the amount paid or
    payable by such Indemnified Party as a result of such
    Liabilities in such proportion as is appropriate to reflect the
    relative fault of the Indemnifying Party and Indemnified Party
    in connection with the actions which resulted in such
    Liabilities, as well as any other relevant equitable
    considerations. The relative faults of such Indemnifying Party
    and Indemnified Party shall be determined by reference to, among
    other things, whether any action in question, including any
    untrue or alleged untrue statement of a material fact or
    omission or alleged omission to state a material fact, has been
    made by, or relates to information supplied by, such
    Indemnifying Party or Indemnified Party, and the parties’
    relative intent, knowledge, access to information and
    opportunity to correct or prevent such action. The amount paid
    or payable by a party as a result of the Liabilities referred to
    above shall be deemed to include, subject to the limitations set
    forth in Sections 4.7(c) and (d), any reasonable and documented
    out of pocket legal or other fees, charges or expenses
    reasonably incurred by such party in connection with any
    investigation or proceeding; provided, that the total amount to
    be contributed by the Purchaser shall be limited to the net
    proceeds received by the Purchaser in the offering.

 

    4.8 Lock-Up.  The
    Purchaser hereby irrevocably agrees that following the Closing
    and for a period of 180 days from the Closing (the
    “Lock-Up Period End Date”), the Purchaser will
    not, directly or indirectly:

 

    (1) offer for sale, sell, pledge or otherwise dispose of or
    enter into any transaction or device that is designed to, or
    could be expected to, result in the disposition by any person at
    any time in the future of the Shares;

 

    (2) enter into any swap or other derivatives transaction
    that transfers to another, in whole or in part, any of the
    economic benefits or risks of ownership of Shares, whether any
    such transaction is to be settled by delivery of Shares or other
    securities, in cash or otherwise; or

    

    10

 

 

    (3) publicly disclose the intention to do any of the
    foregoing, for a period commencing on the date of the Closing
    and ending on the
    Lock-Up
    Period End Date;

 

    provided, that, the provisions of Section 4.8 shall not
    apply to (a) the registration of the offer and sale of
    Common Stock and the sale of the Common Stock in an offering as
    contemplated by Section 4.7 of this Agreement,
    (b) bona fide gifts, provided the recipient thereof agrees
    in writing with the Company to be bound by the terms of this
    Section 4.8, (c) transactions relating to shares of
    Common Stock or other securities acquired in open market
    transactions after the Closing Date or (d) with the
    Company’s prior written consent.

 

    4.9 Form D.  No later than ten
    (10) days after the Closing, the Company shall file a
    Form D with respect to the Shares as required under
    Regulation D promulgated under the Securities Act and shall
    provide a copy thereof to the Purchaser promptly after filing.

 

    ARTICLE V

    

 

    MISCELLANEOUS
    

 

    5.1 Termination.  This Agreement will
    automatically be null and void and have no further force or
    effect upon the termination of the Stock Purchase Agreement.

 

    5.2 Fees and Expenses.  Except as set
    forth in Section 4.7(b), the Purchaser and the Company
    shall pay the fees and expenses of its own advisers, counsel,
    accountants and other experts, if any, and all other expenses
    incurred by such party incident to the negotiation, preparation,
    execution, delivery and performance of the Transaction
    Documents. The Company shall pay all stamp and other taxes and
    duties levied in connection with the issuance of the Shares
    under this Agreement.

 

    5.3 Entire Agreement.  The Transaction
    Documents, together with the Exhibits and Schedules thereto,
    contain the entire understanding of the parties with respect to
    the subject matter hereof and supersede all prior agreements and
    understandings, oral or written, with respect to such matters,
    which the parties acknowledge have been merged into such
    documents, exhibits and schedules.

 

    5.4 Notices.  Any and all notices or other
    communications or deliveries required or permitted to be
    provided hereunder shall be in writing and shall be deemed given
    and effective on the earliest of (a) the date of
    transmission, if such notice or communication is delivered via
    facsimile at the facsimile number specified in this Section
    prior to 5:00 p.m. (New York City time) on a Trading Day,
    (b) the next Trading Day after the date of transmission, if
    such notice or communication is delivered via facsimile at the
    facsimile number specified in this Section on a day that is not
    a Trading Day or later than 5:00 p.m. (New York City time)
    on any Trading Day, (c) the Trading Day following the date
    of mailing, if sent by U.S. nationally recognized overnight
    courier service, or (d) upon actual receipt by the party to
    whom such notice is required to be given. The address for such
    notices and communications shall be as follows:

 

	 	 	 
	

    If to the Company:

	
 
	
    MBF Healthcare Acquisition Corp.

    121 Alhambra Plaza, Suite 1100

    Coral Gables, Florida 33134

    Attn: Miguel B. Fernandez

	
 
	
 
	
 

	

    With a copy to:

	
 
	
    Akerman Senterfitt

    One Southeast 3rd Avenue

    Miami, Florida 33131

    Attn:  Teddy Klinghoffer, Esq.

	
 
	
 
	
 

	

    If to the Purchaser:

	
 
	
    To the address set forth under the Purchaser’s name on the
    signature pages hereof;

 

    or such other address as may be designated in writing hereafter,
    in the same manner, by such Person.

 

    5.5 Amendments; Waivers.  No provision of this
    Agreement may be waived or amended except in a written
    instrument signed by the Company and the Purchaser. No waiver of
    any default with respect to any provision, condition or
    requirement of this Agreement shall be deemed to be a continuing
    waiver in the future

    

    11

 

     or a waiver of any subsequent default or a waiver of any other
    provision, condition or requirement hereof, nor shall any delay
    or omission of either party to exercise any right hereunder in
    any manner impair the exercise of any such right

 

    5.6 Construction.  The headings herein are
    for convenience only, do not constitute a part of this Agreement
    and shall not be deemed to limit or affect any of the provisions
    hereof. The language used in this Agreement will be deemed to be
    the language chosen by the parties to express their mutual
    intent, and no rules of strict construction will be applied
    against any party. This Agreement shall be construed as if
    drafted jointly by the parties, and no presumption or burden of
    proof shall arise favoring or disfavoring any party by virtue of
    the authorship of any provisions of this Agreement or any of the
    Transaction Documents.

 

    5.7 Successors and Assigns.  This
    Agreement shall be binding upon and inure to the benefit of the
    parties and their successors and permitted assigns. The Company
    may not assign this Agreement or any rights or obligations
    hereunder without the prior written consent of the Purchaser.
    The Purchaser may assign any or all of its rights under this
    Agreement to any Person to whom the Purchaser assigns or
    transfers any Shares, provided such transferee agrees in writing
    to be bound, with respect to the transferred Shares, by the
    provisions hereof that apply to the Purchaser.

 

    5.8 No Third-Party Beneficiaries.  This
    Agreement is intended for the benefit of the parties hereto and
    their respective successors and permitted assigns and is not for
    the benefit of, nor may any provision hereof be enforced by, any
    other Person, except as otherwise set forth in Section 4.8.

 

    5.9 Governing Law.  This Agreement shall
    be governed and construed in accordance with the internal laws
    (without reference to choice or conflict of laws) of the State
    of New York. Each party hereby waives all right to a trial by
    jury in any action, suit or proceeding brought to enforce or
    defend any rights or remedies under this Agreement. Each party
    irrevocably consents to the service of any and all process in
    any such action, suit or proceeding by the delivery of such
    process to such party at the address and in the manner provided
    in Section 5.4.

 

    5.10 Survival.  The representations,
    warranties, agreements and covenants contained herein shall
    survive the Closing and the delivery of the Shares.

 

    5.11 Execution.  This Agreement may be
    executed in two or more counterparts, all of which when taken
    together shall be considered one and the same agreement and
    shall become effective when counterparts have been signed by
    each party and delivered to the other party, it being understood
    that both parties need not sign the same counterpart. In the
    event that any signature is delivered by facsimile transmission,
    such signature shall create a valid and binding obligation of
    the party executing (or on whose behalf such signature is
    executed) with the same force and effect as if such facsimile
    signature page were an original thereof.

 

    5.12 Severability.  If any provision of
    this Agreement is held to be invalid or unenforceable in any
    respect, the validity and enforceability of the remaining terms
    and provisions of this Agreement shall not in any way be
    affected or impaired thereby and the parties will attempt to
    agree upon a valid and enforceable provision that is a
    reasonable substitute therefor, and upon so agreeing, shall
    incorporate such substitute provision in this Agreement.

 

    5.13 Replacement of Securities.  If any
    certificate or instrument evidencing any Shares is mutilated,
    lost, stolen or destroyed, the Company shall issue or cause to
    be issued in exchange and substitution for and upon cancellation
    thereof, or in lieu of and substitution therefor, a new
    certificate or instrument, but only upon receipt of evidence
    reasonably satisfactory to the Company of such loss, theft or
    destruction and customary and reasonable indemnity, if
    requested. The applicants for a new certificate or instrument
    under such circumstances shall also pay any reasonable
    third-party costs associated with the issuance of such
    replacement Shares. If a replacement certificate or instrument
    evidencing any Shares is requested due to a mutilation thereof,
    the Company may require delivery of such mutilated certificate
    or instrument as a condition precedent to any issuance of a
    replacement.

 

    5.14 Remedies.  In addition to being
    entitled to exercise all rights provided herein or granted by
    law, including recovery of damages, each of the Purchaser and
    the Company will be entitled to specific

    

    12

 

     performance under the Transaction Documents. The parties agree
    that monetary damages may not be adequate compensation for any
    loss incurred by reason of any breach of obligations described
    in the foregoing sentence and hereby agrees to waive in any
    action for specific performance of any such obligation the
    defense that a remedy at law would be adequate.

 

    [REMAINDER
    OF PAGE INTENTIONALLY LEFT BLANK

    SIGNATURE PAGES FOLLOW]

    

    13

 

 

    IN WITNESS WHEREOF, the parties hereto have caused this
    Subscription Agreement to be duly executed by their respective
    authorized signatories as of the date first indicated above.

 

    MBF HEALTHCARE ACQUISITION CORP.

 

        

     /s/ Miguel B. Fernandez
    

     Name:     Miguel B. Fernandez

			
	 	     Title: 
	
    Chairman and Chief Executive Officer

    

    14

 

 

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

 

    PURCHASER:

 

    MBF HEALTHCARE PARTNERS, L.P.

 

			
	 	    By: 
	
    MBF Healthcare Advisors I, L.P., its general partner

 

			
	 	    By: 
	
    MBF Healthcare Advisors, LLC, its general partner

			
	 	     By: 
	
    

     Name:     

			
	 	     Title: 
	

 

    Address of Notice:

    

    Tel: ­
    ­

    Fax: ­
    ­

    

    15EX-10.2 Letter Agreement

 

    Exhibit
10.2

 

    September 10,
    2008
    

 

    MBF Healthcare Acquisition Corp.

     121 Alhambra Plaza, Suite 1100

     Coral Gables, Florida 33134

     Attention: Miguel B. Fernandez,

                Chairman
    and Chief Executive Officer

 

    Ladies and
    Gentlemen:
    

 

    Reference is made to that certain Stock Purchase Agreement,
    dated as of the date hereof, by and among MBF Healthcare
    Acquisition Corp., a Delaware corporation (the
    “Buyer”), Critical Homecare Solutions Holdings,
    Inc., a Delaware corporation (the “Company”),
    Kohlberg Investors V, L.P., a Delaware limited partnership,
    in its capacity as the Sellers’ Representative and as a
    stockholder of the Company, and the other stockholders of the
    Company set forth on the signature pages thereto (as amended and
    modified from time to time, the “Stock Purchase
    Agreement”), pursuant to which the Buyer has agreed to
    purchase from the stockholders all of the issued and outstanding
    shares of common stock, par value $.001, of the Company, on the
    terms and subject to the conditions set forth in the Stock
    Purchase Agreement, as the same has and may be amended from time
    to time. Capitalized terms used but not defined herein have the
    meanings ascribed to them in the Stock Purchase Agreement.

 

    For good and valuable consideration, the receipt and sufficiency
    of which is hereby acknowledged the parties hereto agree as
    follows:

 

    This letter agreement and the Subscription Agreement attached
    hereto as Exhibit A (the “Investor
    Subscription Agreement”) amend and restate in its
    entirety that certain Letter Agreement by and between the Buyer
    and MBF Healthcare Partners, L.P., a Delaware limited
    partnership (the “Equity Investor”), dated
    February 6, 2008.

 

    On the Closing Date, the Equity Investor shall transfer and
    deliver to the Buyer 2,343,750 shares of Buyer’s Stock
    for cancellation without any consideration, subject to the
    paragraph below.

 

    After the conclusion of each of the five consecutive
    twelve-month periods commencing January 1, 2009 and within
    thirty (30) days of the Buyer’s filing of its annual
    report on
    Form 10-K
    thereafter with the SEC, the Buyer shall grant, issue and
    deliver to the Equity Investor the number of shares of
    Buyer’s Stock, if any, equal to the quotient of:
    (i) thirty-three and one third percent (33
    1/3%)
    of the Buyer’s EBITDA (as hereinafter defined) in excess of
    $52,500,000 divided by (ii) the Per Share Price (as
    hereinafter defined); provided that the maximum dollar amount of
    shares of Buyer Stock to be issued hereunder (as determined by
    the applicable Per Share Price) shall in no event exceed
    $1,150,000 in the aggregate (the “Share Amount”). For
    purposes hereof, (i) “Per Share Price” shall mean
    the average closing sales price of Buyer’s Stock for the
    ten consecutive trading days prior to the date of delivery of
    the Buyer’s Stock hereunder; provided in no event
    shall the Per Share Price be less than the Per Share Earn-Out
    Price (as defined in the Stock Purchase Agreement) for the
    applicable fiscal year period and
    (ii) “EBITDA” shall mean the consolidated
    earnings before interest, taxes, depreciation and amortization
    as defined in the Buyer’s senior credit facility existing
    as of the Closing Date (as amended, modified and replaced from
    time to time), as adjusted to reflect EBITDA of any acquisitions
    made during the applicable period as if such acquisition had
    been effective on the first day of the fiscal year in which such
    acquisition is consummated.

 

    The Equity Investor hereby represents and warrants that it has
    sufficient cash on hand or capital commitments to satisfy its
    obligations under this letter agreement and the Investor
    Subscription Agreement, and will take no action that would
    prevent it from satisfying such obligations. The Sellers are
    intended third party beneficiaries of the Buyer’s rights
    under this letter agreement and the Investor Subscription
    Agreement and shall have the right to enforce the Buyer’s
    rights hereunder and thereunder, including the obligation of the
    Equity Investor to fund the amount subscribed for under the
    Subscription Agreement. In that connection, the

    

    1

 

     obligations of the Equity Investor to the Sellers and the Buyer
    shall be direct, primary and unconditional, except as expressly
    set forth herein. Except as specifically provided above, no
    Person, other than the Sellers and the Buyer, shall be entitled
    to rely upon this letter agreement or the Investor Subscription
    Agreement or bring any action under this letter agreement or the
    Investor Subscription Agreement. The Buyer’s creditors
    shall have no right to enforce this letter agreement or the
    Investor Subscription Agreement or to cause Buyer to enforce
    this letter agreement or the Investor Subscription Agreement.
    The parties hereby agree that their respective representations,
    warranties and covenants set forth herein are solely for the
    benefit of the other party hereto and the Sellers, in accordance
    with and subject to the terms of this letter agreement, and this
    letter agreement and the Investor Subscription Agreement is not
    intended to, and does not, confer upon any Person other than the
    parties hereto and the Sellers any rights or remedies hereunder.

 

    Notwithstanding anything to the contrary herein, if the Closing
    does not occur, the Equity Investor shall be obligated to fund
    an amount sufficient for the Buyer to be able to satisfy any
    liability it may have to the Sellers under the Stock Purchase
    Agreement pursuant to Section 10.2 thereof for losses
    incurred by Sellers
    and/or the
    Company for the intentional or willful material breach of the
    Stock Purchase Agreement by the Buyer; provided that, the
    liability of the Equity Investor and the Buyer, in the
    aggregate, shall under no circumstances exceed $4,000,000 for
    losses incurred by the Sellers
    and/or the
    Company in connection with the transactions contemplated by the
    Stock Purchase Agreement for the breach of this letter agreement
    and/or the
    Investor Subscription Agreement by the Equity Investor or an
    intentional or willful breach of the Stock Purchase Agreement by
    the Buyer. The Sellers acknowledge that their sole and exclusive
    remedy regarding the Equity Investor’s obligation under
    this letter agreement and the Investor Subscription Agreement if
    the Closing does not occur shall be limited as set forth in the
    prior sentence.

 

    Notwithstanding anything that may be expressed or implied in
    this letter agreement or the Investor Subscription, no Person
    other than the undersigned shall have any obligation hereunder
    and, notwithstanding that the undersigned may be a partnership
    or limited liability company, no recourse hereunder shall be had
    against any former, current or future director, officer,
    employee, agent, general or limited partner, manager, member,
    stockholder or affiliate of the undersigned or any former,
    current or future director, officer, employee, agent, general or
    limited partner, manager, member, stockholder or affiliate of
    any of the foregoing, whether by the enforcement of any
    assessment or by any legal or equitable proceeding, or by virtue
    of any statute, regulation or other applicable law, it being
    expressly agreed and acknowledged that no personal liability
    shall attach to, be imposed on or otherwise be incurred by any
    former, current or future director, officer, employee, agent,
    general or limited partner, manager, member, stockholder or
    affiliate or assignee of the undersigned or any former, current
    or future director, officer, employee, agent, general or limited
    partner, manager, member, stockholder or affiliate or assignee
    of any of the foregoing, for any obligations of the undersigned
    under this letter agreement or the Subscription Agreement.

 

    This letter agreement shall be treated as confidential and is
    being provided to the Buyer solely in connection with the Stock
    Purchase Agreement. This letter agreement may not be used,
    circulated, quoted or otherwise referred to in any document,
    except with the prior written consent of the Equity Investor.
    Notwithstanding the foregoing, this letter agreement may be
    provided to the Company if the Company agrees to treat the
    letter agreement as confidential, except that the Buyer and the
    Company may disclose the existence and contents of this letter
    agreement to the extent required by Law, the applicable rules of
    any national securities exchange or in connection with any SEC
    filings relating to the Stock Purchase, including the
    Preliminary Proxy Statement and Definitive Proxy Statement and
    may disclose the existence and content of this letter agreement
    to its lenders and equity investors in connection with the
    Private Placement.

 

    This letter agreement shall expire on the earlier of the
    (i) Closing and (ii) the termination of the Stock
    Purchase Agreement in accordance with its terms;
    provided, however, that notwithstanding any such
    expiration under clause (ii) in connection with the
    termination of the Stock Purchase Agreement, any claim for
    breach of this letter, the Investor Subscription Agreement or an
    intentional or willful material breach of the Stock Purchase
    Agreement by the Buyer may be brought in a court of competent
    jurisdiction on or before the 60th day following the
    termination of the Stock Purchase Agreement, in which case this
    letter agreement shall survive until the ultimate resolution of
    such claim; provided that the paragraph providing for the
    “Share Amount” herein shall survive the Closing in
    accordance with its terms.

    

    2

 

 

    The rights and obligations under this letter agreement may not
    be assigned by any party without the prior written consent of
    the parties to this letter agreement and the Seller’s
    Representative.

 

    This letter agreement shall be governed by, and construed and
    interpreted in accordance with, the laws of the State of
    Delaware, without giving effect to any applicable principles of
    conflict of laws rules that would cause the laws of another
    State to otherwise govern this letter agreement. The parties
    hereby (i) submit to the personal jurisdiction of the
    Delaware Court of Chancery, or in the event (but only in the
    event) that such court does not have subject matter jurisdiction
    over an action or proceeding, in the United States District
    Court for the District of Delaware, and (ii) waive any
    claim of improper venue or any claim that those courts are an
    inconvenient forum.

 

    [Signature
    Page Follows]

    

    3

 

 

    THE PARTIES HEREBY WAIVE TO THE FULLEST EXTENT PERMITTED BY
    APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH
    RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF,
    UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE
    TRANSACTIONS CONTEMPLATED HEREBY.

 

    Very truly yours,

 

    MBF HEALTHCARE PARTNERS, L.P.

 

			
	 	    By: 
	
    MBF Healthcare Advisors I, L.P., its General Partner

 

			
	 	    By: 
	
    MBF Healthcare Advisors LLC, its General Partner

 

			
	 	    By: 
	
       /s/ Jorge L. Rico 

    

    Name: Jorge L. Rico

     Title: Senior Vice President and 
          Chief Operating Officer

     ACKNOWLEDGED AND AGREED:

     MBF HEALTHCARE ACQUISITION CORP.

    /s/ Jorge L. Rico

     Name: Jorge L. Rico

     Title: Senior Vice President and 
          Chief Operating Officer

     Date:

    

    4

 

 

    EXHIBIT A

    

    5

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