Document:

Exhibit 10.25

 

English summary of the Amendments and Clarifications
to the Debentures Executed for the Benefit of Israeli Discount Bank (the "Bank") dated September 15, 2013

 

Below is a summary
of the bank letter dated September 15, 2013 (the "Letter") which modifies certain provisions of the following
debentures and pledges executed by Enzymotec Ltd. (the "Company") for the benefit of the Bank (the "Debentures").
These amendments shall become effective as of and are conditioned upon the completion of the public offering of the Company's shares
which shall take place no later than March 31, 2014 (the "Offering"). Italics indicate modifications to provisions
of the Debentures.

 

Amendments to the debenture to guarantee
the Company's debt and undertakings to the Bank dated September 22, 2009:

 

Replacement of provision:

 

		·	Original provision: The Company is to notify the bank of changes in its shareholders, management
and any decision to conduct a public offering, to issue shares or which may cause a change in the value of its shares.

Letter: Will be revised
to say substantially as follows: 'other than changes resulting from the Offering, the Company will notify the bank of changes in
the holdings of Galam Ltd., Galam Coop. Agriculture Society Management & Marketing Ltd. and XT Hi-Tech Investments (1992) Ltd.
and of any shareholder holding more than 5% of the Company's share capital (the "5% Shareholders") buying or selling
shares not on the market, provided that the Company was so notified, and of each report filed with any securities commission.'

 

Amendment of provisions:

 

		·	Company undertakes – 'to cause that no changes will occur in its ownership or control
or...in its capital without the bank’s consent, other than changes resulting from the Offering; after the Offering
the Bank’s consent will not be required provided that the Company notifies the Bank of all changes in the holdings of its
5% Shareholders of which the Company has been notified.'

 

		·	Company undertakes – 'to cause that its shareholders undertake to the bank, not to
pledge, sell or transfer their shares; the Offering will not constitute a breach of this provision and after the Offering the
Bank’s consent will not be required provided that the Company notifies the Bank of all changes in the holdings of its 5%
Shareholders of which the Company is notified.'

 

		·	Event of default – as of the Offering, the words "or any of its shareholders"
shall be deleted from the following event of default: ‘in the event of death, legal incapacity, bankruptcy, liquidation,
receivership, imprisonment or leaving Israel by the Company or any of its shareholders.'

 

		·	Event of default – the Bank is of the opinion, in its sole discretion, that a change
of control has occurred as compared to the control as of date hereof or as of the dates of the Letters of Undertaking, dated 1.5.2012
and 9.9.2012, as amended, other than a change of control resulting from the Offering.

 

    	 

    	 

    

 

Amendments to the Real Estate Debenture
dated September 22, 2009: 

 

Amendment of provisions:

 

		·	Event of default – the Bank is of the opinion, in its sole discretion, that a change
of control has occurred as compared to the control as of date hereof or as of the date of any letter of undertaking, other than
a change of control resulting from the Offering.

 

		·	Event of default – a corporate reorganization event, other than a corporate reorganization
resulting from the Offering.

 

		·	Event of default – as of the Offering, the words "or any of its shareholders" shall
be deleted from the following event: 'in the event of death, legal incapacity, bankruptcy, liquidation, receivership, imprisonment
or leaving Israel by the Company or any of its shareholders.'

 

Amendment to the Debenture relating
to the Company's equipment dated October 12, 2009:

 

		·	Event of default – Any change in the control or ownership in the Company
or its share
capital, other than such a change arising from the Offering or following the Offering, provided that the Company notifies
the Bank of any change in the shareholdings of a 5% shareholder of which the Company has been notified.

 

Amendment to the Pledge of 1,000 ordinary
shares par value $0.01 of Enzymotec USA Inc. dated September 8, 2009:

 

		·	Event of default – Any change in the control, ownership or holdings in the Company
or its share capital, other than such a change arising from the Offering or following the Offering, provided that the
Company notifies the Bank of any change in the shareholdings of a 5% shareholder of which the Company has been notified

 

The Debentures shall remain in full force
and notwithstanding the abovementioned amendments all the Company's undertakings and obligations therein shall continue to bind
the Company.

 

    	- 2 -MANAGEMENT
SERVICES AGREEMENT

 

This Management Agreement (“Agreement”)
is made and entered into as of this thirty first (31st) day of July, 2013, (the “Effective Date”) by and
between Apollo Medical Management, Inc., a Delaware corporation (“Manager”), and Apollomed Care Clinic, a professional
corporation (“Group”). Manager and Group are, at times, collectively referred to herein as “Parties”.

 

Recitals:

 

A.Manager is a Delaware corporation
engaged in the business of managing physician practices to enhance the quality and efficiency of the medical practices it manages.

 

B.Group is a California professional
medical corporation which has as its primary objective the delivery or arrangement for the delivery of professional health care
services;

 

C.Group desires retain Manager to provide
assistance to Group in managing and administering certain non-medical aspects of Group’s medical practice in a manner and
to the extent permitted by law.

 

D.Group and Manager recognize that Group
has sole responsibility for providing medical services to Group’s patients, and Manager shall provide assistance and have
final authority over to Group in managing and administering all non-medical functions of Group’s medical practice.

 

THEREFORE, in consideration of the mutual
covenants and agreements contained herein, the Parties agree as follows:

 

1.Obligations
of Manager.

 

1.1.Management Services. During
the Term of this Agreement (as defined in Section 6.1), Group appoints and engages Manger, and Manger agrees to furnish to Group,
in the sole and absolute discretion of Manager as to method and cost, those Management Services set forth in Exhibit A hereto.
Notwithstanding such appointment and engagement, Group will have exclusive authority and control over the professional aspects
of Group to the extent the same constitute or directly affect the practice of medicine, including all diagnosis, treatment and
ethical determinations with respect to patients that are required by applicable law to be decided by a physician.

 

1.2.Performance of Manager’s
Services.

 

(a)Manager’s Availability.
Manager shall devote its best efforts to carrying out the terms of this Agreement and shall devote sufficient time and resources,
as determined by Manager after consultation with Group, as is reasonably required to discharge its duties under this Agreement.

 

(b)Manager’s Authority. Manager
shall perform all additional and ancillary services, not otherwise described in this Agreement that may in Manager’s judgment,
after consultation with Group, be reasonable and appropriate in order to meet Manager’s obligations under this Agreement.
Manager may subcontract with other persons or entities, including entities related to Manager by common ownership or control, and
subcontractors of Group, to perform all or any part of the services required of Manager by this Agreement. For purposes of this
Agreement, Manager shall have signatory rights on all bank accounts used by Group in the conduct of Group’s practice, and
Manager shall have the right to make deposits to and payments from such accounts as it deems appropriate in furtherance of its
obligations hereunder, in accordance with Exhibit A.

 

    	 

    	 

    

 

(c)Manager’s Responsibility.
In all matters under this Agreement, Manager shall abide by all applicable state and federal laws and regulations, and applicable
policies and procedures of Group.

 

(d)Reports to Group. On or before
the twenty-fifth (25th) day of the first month of each calendar quarter, Manager shall provide Group with an accounting
of all billings and collections on behalf of Group, and all deposits to the account(s) of Group and payments from the account(s)
of Group, effected by Manager for the benefit of Group during the immediately preceding calendar quarter. All reports shall be
in such form as may be agreed between Manager and Group from time to time.

 

2.Obligations
of Group.

 

2.1.Physician Services. Group
shall be responsible for the rendition of all medical services, including without limitation, diagnosis or treatment of any condition;
the prescribing, dispensing and/or administering of any medication, surgery, therapy, and the preparation of all medical reports.

 

2.2.Selection of Group Personnel.
Group shall retain responsibility for the selection, hiring and termination of physicians, allied health professionals and medical
assistants working in clinical capacities for the Group. Group, in consultation with Manager, shall be solely responsible for determining
the compensation of all licensed medical professionals.

 

2.3.Supervision of Support Personnel.
Group shall supervise and assume responsibility for any service provided by allied health professionals that require the supervision
of a licensed physician. Manager shall have no control or direction over the delivery or provision of medical services and all
such medical services shall be provided under the professional direction and supervision of Group’s affiliated physicians.
To the extent any act or service required of Manager in this Agreement should be construed or deemed, by any governmental authority,
agency or court to constitute the practice of medicine, the performance of said act or service by Manager shall be deemed waived
and forever unenforceable.

 

2.4.Designation of Agent. Group
hereby designates and appoints Manager to act as Group’s non-physician manager and to provide the services to Group in connection
with Group’s Practice as described in this Agreement. Group hereby designates Warren Hosseinion, M.D. and Kyle Francis as
its designated representatives who are duly authorized by the Group to bind the Group and act on behalf of the Group in all respects
pertaining to this Agreement.

 

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2.5.Access to Information. Group
acknowledges and agrees that all information and records concerning Group and Group’s performance of services that may be
obtained by Manager during the Term of this Agreement may be used by Manager for all purposes necessary or convenient to Manager’s
obligations under this Agreement.

 

2.6.Coding and Billing Procedures.
Group shall retain responsibility for decisions relating to coding and billing procedure for patient care services. Group shall
ensure the prompt and accurate preparation of patient records by its affiliated physicians. Such records shall conform with community
standards both as to form and content and shall include all information necessary for Manager to properly discharge its responsibility
to bill patients and third party payors on behalf of Group.

 

3.Confidentiality.

 

3.1.Definition. For the purpose
of this Agreement, the term “Manager Confidential Information” shall include the following: (a) all documents and other
materials, including but not limited to, all memoranda, clinical manuals, handbooks, production books, educational material and
audio or visual recordings, which contain information relating to the operation of the Group or its programs (excluding written
materials distributed to patients in the operation of the Group as promotion for the Group), (b) all methods, techniques and procedures
utilized in providing services to the Group’s patients not readily available through sources in the public domain, and (c)
all trademarks, trade names, service marks, or protected software of Manager and their related data files. For purposes of this
Agreement, the term “Group Confidential Information” shall include the following: (i) financial information of Group,
(ii) medical records of patients receiving services from the Group, (iii) data relating to patient care and outcomes (whether individually
identifiable with respect to any one patient or aggregated with information relating to multiple patients), (iv) risk management
records, and (v) such other information that specifically pertains to Group and is proprietary to Group. Notwithstanding anything
herein to the contrary, unless otherwise specified under applicable law, Group shall be deemed the “records owner,”
as such term is defined under applicable state law, of all patient records at the Group.

 

3.2.Agreements of Group. Group
acknowledges and agrees that Manager Confidential Information is owned by Manager and has been disclosed to it in confidence and
with the understanding that it constitutes valuable business information developed by Manager at great expenditure of time, effort
and money. Group agrees that it shall not, without the express prior written consent of Manager, use Manager Confidential Information
for any purpose other than the performance of this Agreement nor allow anyone access to such except on a need to know basis. Group
further agrees to keep strictly confidential and hold in trust all Manager Confidential Information and not disclose or reveal
such information to any third party (other than Group’s professional advisors with a need to know such information, which
advisors shall maintain the confidentiality thereof) without the express prior consent of Manager. Group hereby acknowledges Manager’s
right to use any technical or business expertise obtained during the course of its engagement hereunder in connection with its
management of any other facility.

 

3.3.Agreements of Manager. Manager
acknowledges and agrees that Group Confidential Information is owned by Group and has been disclosed to it in confidence and with
the understanding that it constitutes valuable business information. Manager agrees that it shall not, without the express prior
written consent of Group, use Group Confidential Information for any purpose other than the performance of this Agreement nor allow
anyone access to such except on a need to know basis. Manager further agrees to keep strictly confidential and hold in trust all
Group Confidential Information and not disclose or reveal such information to any third party (other than the affiliates of Manager
and Manager’s professional advisors with a need to know such information, which affiliates and advisors shall maintain the
confidentiality thereof) without the express prior written consent of Group. Manager is permitted to disclose Group’s Confidential
Information to Manager’s subcontractors for the performance of this Agreement. In connection with the foregoing, Manager
shall ensure that its affiliates, including subcontractors, also maintain the confidentiality of Group Confidential Information
in accordance with the terms hereof.

 

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3.4.Disclosure. If Group or Manager
or any of their respective representatives are requested by a person or entity to disclose Manager Confidential Information or
Group Confidential Information, respectively, in any legal, quasi-legal or administrative proceeding, Group or Manager shall promptly
notify the other party of such request so that the other party may take, at its expense, such steps necessary to protect Manager
Confidential Information or Group Confidential Information, as applicable. If Group or Manager is thereafter required to disclose
Manager Confidential Information or Group Confidential Information, as applicable, to the person or entity compelling such disclosure,
only the part of such information as is required by law to be disclosed shall be disclosed.

 

3.5.Treatment on Termination.
Upon termination of this Agreement by either party for any reason whatsoever, each party shall forthwith return to the other party
all material constituting or containing Confidential Information of the other party, in a format that is usable or capable of conversion
to a usable format, and no party thereafter shall use, appropriate, or reproduce such information or disclose such information
to any third party. All costs of converting Confidential Information to a format useable by the recipient shall be borne by the
recipient.

 

3.6.Medical Information & Patient
Records. Each party shall maintain the confidentiality of all patient records, charts and other patient identifying information,
and shall comply with all applicable State and Federal laws governing the confidentiality of medical records and related information.
Pursuant to the Health Insurance Portability Accountability Act of 1996, as amended, and Subtitle D of the Health Information
Technology for Economic and Clinical Health Act, the Parties hereto agree to be bound by the Business Associate Agreement attached
hereto at Exhibit C and Incorporated here within.

 

3.7.Intellectual Property Rights.
Group utilizes a proprietary database technology called ApolloWeb to enhance the quality and efficiency of the medical practices
it manages. (“ApolloWeb”). From time to time, Group may provide Manager with software programs and related documentation,
or improvements and upgrades thereto, to facilitate its use of ApolloWeb (“System-Related Software”). Group hereby
grants Manager a nonexclusive, royalty-free license to reproduce, install and use on equipment owned or controlled by Group, and
solely for Group’s own purposes (which may be business or non-commercial, as applicable), any such System-Related Software
only in the form it was provided or made available to Manager by Group, and only in connection with Manager’s use of the
ApolloWeb in accordance with this Agreement. Manager will not distribute, sublicense, modify, create derivative works of, sell,
transfer or assign the System-Related Software, nor will Manager reverse engineer, decompile or disassemble any object code of
System-Related Software except to the extent permitted by applicable law notwithstanding this restriction. Manager further agrees
not to remove or destroy any proprietary markings or confidential legends placed upon or contained within any System-Related Software.

 

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Group and its licensors reserve all right,
title and interest in the ApolloWeb and System-Related Software, including all intellectual property rights therein (including
without limitation all copyrights, patents, trade secrets, trademarks, service marks and trade names) subject to the licenses expressly
set forth in this Agreement. This Agreement does not include any sale or transfer to Manager of Group intellectual property rights,
including without limitation with respect to ApolloWeb or any System-Related Software.

 

Manager acknowledges that the content, data
and other materials made available by Group are owned or licensed by Group (the “Third Party Materials”). Manager will
not reproduce, distribute, modify, create derivative works of, or exercise any other rights in, such Third Party Materials except
as authorized by Group.

 

4.Independent
Contractors.

 

4.1.Independent Contractors.
Manager is an independent contractor with respect to its obligations under this Agreement. Nothing contained herein shall be construed
as creating any other type of relationship between the Parties other than one of independent contractor. In the performance of
this Agreement, it is mutually understood and agreed that physicians are at all times acting and performing wholly independently
and not as employees, agents, partners or joint venturers of Manager. They shall have no claim under this Agreement or otherwise
against Manager for any compensation or benefits, including without limitation wages, workers’ compensation, unemployment
compensation, sick leave, vacation pay, retirement benefits, social security benefits, or any other employee benefits, all of which
shall be the sole responsibility of Group.

 

5.Staffing
of Manager and Group.

 

5.1.Non-physician Personnel.
Manager shall be responsible for the payment to all persons employed or retained by Manager of all compensation, including reasonable
base salary, fringe benefits, bonuses, health and disability insurance, workers’ compensation insurance and any other benefits
that Manager may make available to its employees or contractors.

 

5.2.Licensed Professional Personnel.
Group shall employ or contract with all physicians and other licensed professional personnel that Group, after consultation with
Manager, deems to be required for the conduct of the practice. Group will not enter into any agreements with the licensed physicians
it employs and contracts with to render care and treatment to its patients (“Participating Providers”) unless such
Participating Providers have: (i) current unrestricted licenses to practice their respective professions in the State of California
and (ii) current unrestricted Federal Drug Enforcement Agency (“DEA”) numbers. In addition, where Group contracts with
individual physicians, such physicians will have medical staff membership at the hospitals required by the Plans and where Group
contracts with licensed clinics and medical groups, at least one primary care physician practicing at each clinic or medical group
will have medical staff membership at the hospitals required by Plans. Group further agrees to establish procedures to ensure that
Participating Providers meet these requirements on an ongoing basis. Manager will reasonably cooperate with and assist Group to
meet its obligations under this Section; provided, however, that Group acknowledges and agrees that it will retain ultimate responsibility
for meeting such obligations. All such personnel shall be employees or contractors of Group, and Group shall be responsible for
the payment to all such persons of all compensation, including reasonable base salary, fringe benefits, bonuses, health and disability
insurance, workers’ compensation insurance and any other benefits which Group may make available to Group’s employees
or contractors; provided, however, that Manager shall have management responsibility over the non-medical aspects associated with
Group’s employment or contracting of such personnel.

 

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6.Term
and Termination.

 

6.1.Term. This Agreement shall
commence on the Effective Date and shall continue in full force and effect for a term of twenty (20) years (the “Initial
Term”) unless terminated earlier as provided in this Agreement. After the expiration of the Initial Term, the term of this
Agreement will be automatically extended for additional terms of ten (10) years each (the “Renewal Terms”), unless
either Party delivers written notice to the other Party of such intention not to extend the term of this Agreement, at least ninety
(90) days prior to the expiration of the current term (the Initial Term as extend by all Renewal Terms, the “Term”).

 

6.2.No Termination without Cause.
This Agreement may be terminated only for cause as specified in Sections 6.3, 6.4, 6.5 below.

 

6.3.Termination For Cause. This
Agreement may be terminated by either party for cause, upon sixty (60) days prior written notice to the other party specifying
the cause upon which such termination is based. For purposes of this Agreement, “cause” shall have the meanings set
forth below in Sections 6.4 and 6.5. Notwithstanding the foregoing, neither party may terminate this Agreement if, during
the foregoing sixty (60) day period, the party to whom notice has been given successfully cures the failure or breach of performance
upon which termination is based; provided, however, that if such failure or breach cannot be cured within the sixty (60) day period,
termination shall not occur if the party to whom notice has been given takes material action during such sixty (60) day period
to cure the failure or breach and thereafter diligently and continuously prosecutes such cure to completion.

 

6.4.By Group. Cause for termination
by Group shall be limited to the following: (i) failure of any representation or warranty made by Manager in this Agreement to
be true at the date of this Agreement and to remain true throughout the Term hereof, which failure has a material adverse effect
upon Group; (ii) material failure by Manager to duly observe and perform the covenants and agreements undertaken by Manager herein;
(iii) misrepresentation of material fact, or fraud, by Manager in the discharge of its obligations under this Agreement; (iv) if
Manager shall dissolve, shall be adjudicated insolvent or bankrupt, or shall make a general assignment for the benefit of creditors,
or shall consent to or authorize the filing of a voluntary petition in bankruptcy, which petition shall remain undismissed for
a period of sixty (60) days, or the filing against Manager of any proceeding in involuntary bankruptcy, which proceeding shall
remain undismissed for a period of sixty (60) days.

 

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6.5.By Manager. Cause for termination
by Manager shall be limited to the following: (i) failure of Group to pay the Management Fee (as defined in Section 7) in
full and as required in Section 7 of this Agreement and Exhibit B attached hereto within [ten] [(10)] days after Group’s
receipt of written notice of a failure to pay when due; (ii) failure of any representation or warranty made by Group in this
Agreement to be true at the date of this Agreement and to remain true throughout the Term hereof, which failure has a material
adverse effect upon Manager; (iii) material failure by Group to duly observe and perform all the covenants and agreements undertaken
by Group herein; (iv) misrepresentation of material fact, or fraud, by Group in the discharge of Group’s obligations under
this Agreement; or (v) if Group shall be adjudicated insolvent or bankrupt, or shall make a general assignment for the benefit
of creditors, or shall consent to or authorize the filing of a voluntary petition in bankruptcy, which petition shall remain undismissed
for a period of sixty (60) days, or the filing against Group of any proceeding in involuntary bankruptcy, which proceeding shall
remain undismissed for a period of sixty (60) days.

 

6.6.Effect of Termination. Termination
of this Agreement shall not discharge either party from any obligation which may have arisen and which remains to be performed
upon the date of termination, including, but not limited to, the obligation to compensate Manager in accordance with Section 7
(Management Fee). Upon termination of this Agreement, Manager shall promptly deliver to Group all clinical and financial data maintained
by Manager for Group’s benefit. Manager shall make diligent efforts to collect receivables arising from services of Group
prior to the date of termination and shall remit to Group in a timely fashion the allocable portion of all such collections. Similarly,
following termination, all receivables that Group may directly collect arising from services of Group prior to the date of termination
shall be allocated as provided herein, and Group shall remit to Manager in a timely fashion the allocable portion of Group’s
collections of the same.

 

7.Management
Fee.

 

7.1.Management Fee. As compensation
for its services hereunder, Manager will be paid a management fee (the “Management Fee”) in the manner and amount set
forth on Exhibit B attached hereto and incorporated herein by reference.

 

8.Rights
of Entry and Inspection.

 

8.1.By Manager. Manager and its
duly authorized representatives shall have the right at all reasonable times to enter upon Group’s Premises for the purposes
of carrying out the duties of Manager hereunder, and for inspection and verification of Group’s books and records pertaining
to Group’s Practice; provided, however, that any such entry by Manager shall not unreasonably interfere with the conduct
of Group’s Practice.

 

8.2.By Group. Group and its duly
authorized representatives shall have the right at all reasonable times to enter upon Manager’s premises for the purposes
of carrying out the duties of Group hereunder, and for inspection and verification of Manager’s books and records pertaining
to Group’s Practice; provided, however, that any such entry by Group shall not unreasonably interfere with the conduct of
Manager’s business.

 

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9.Group’s
Representations and Warranties.

 

The following representations and warranties
of Group are made to Manager for the purpose of inducing Manager to enter into this Agreement. Group represents and warrants as
follows:

 

9.1.Properly Constituted. Group
is a professional corporation, duly organized, validly existing and in good standing under the laws of the State of California,
has the necessary corporate power and authority to own its property and to carry on Group’s business as it is now being conducted,
and to enter into and perform Group’s obligations under this Agreement.

 

9.2.Consents. Group has taken
all appropriate corporate action and has obtained all necessary approvals and consents that are necessary or convenient to enable
Group to enter into this Agreement.

 

9.3.No Conflicts. Group’s
Board of Directors has all requisite power to execute, deliver and perform this Agreement. Neither the execution and delivery of
this Agreement, nor the consummation and performance of the transactions contemplated in this Agreement, will constitute a default
or an event that would constitute a default under, or violation or breach of, Group’s Articles of Incorporation, Bylaws or
any license, lease, franchise, mortgage, instrument, or other agreement or arrangement to which Group may be bound.

 

9.4.Licenses and Permits. Group
has in full force and effect all licenses, permits and certificates required to operate Group’s Practice as it is being operated
as of the date of this Agreement. All of the Group’s shareholders and Participating Providers providing professional medical
services are duly licensed to practice medicine without restriction in the State of California. Group shall promptly notify Manager
should any of Group’s shareholders or Participating Providers become ineligible to practice medicine in the State of California.
Group shall not permit any persons who have become ineligible to practice medicine in California to retain shares of Group beyond
such time periods as may be permitted by law.

 

9.5.Convictions. Neither Group
nor any of its physician shareholders or Participating Providers have been convicted of any felony criminal offense related to
healthcare, or is listed by a federal or state agency as debarred, excluded, or otherwise ineligible for federal or state program
participation.

 

9.6.Contracts. Group has furnished
Manager full and complete copies of all contracts and agreements affecting Group including, but not limited to, all contracts to
which Group is a party.

 

9.7.Litigation. There is no action,
suit, proceeding, investigation or litigation outstanding, pending or, to the best of Group’s knowledge, threatened, affecting
Group other than routine patient collection matters and professional liability cases adequately covered by insurance.

 

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9.8.Participating Providers.
Group represents and warrants that each Group Participating Provider is as of the date hereof, and will at all times during the
Term:

 

(a)duly licensed to practice medicine
within the State of California and in possession of a federal DEA number, all without limitation, restriction or condition whatsoever;

 

(b)entitled to receive Medicare and Medicaid
reimbursement without limitation, restriction or condition whatsoever; and

 

(c)in compliance with the insurance requirements
set forth in Section 11.1herein.

 

9.9.Compliance. Group represents
and warrants that it and each Group Participating Provider will (i) comply with all applicable governmental laws, regulations,
ordinances, and directives and (ii) perform his or her work and functions at all times in strict accordance with currently approved
methods and practices in his or her field.

 

9.10.Disclosure. During the Term
of this Agreement, Group shall have an affirmative obligation to make reasonable inquiries to ascertain the occurrence of any of
the matters or events that would make the covenants contained in Sections 9.1, 9.2, 9.3, 9.4, 9.5, 9.6, 9.7, 9.8, and 9.9 untrue,
whether occurring at any time prior to, or during the Term of this Agreement, and to immediately disclose same to Manager in accordance
with the notice provisions set forth in Section 12.4.

 

9.11.Additional Disclosures.
Group shall also report the following to Manager, in accordance with the notice provisions set forth in Section 12.4, within
three (3) business days of Group’s knowledge of same:

 

(a)The employment or termination of any
physician participating in the Group; and

 

(b)Any event that substantially interrupts,
or may substantially interrupt, the Group or which may adversely affect its operation.

 

10.Manager’s
Representations and Warranties.

 

The following representations and warranties
of Manager are made to Group for the purpose of inducing Group to enter into this Agreement. Manager represents and warrants as
follows:

 

10.1.Properly Constituted. Manager
is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, has the necessary
corporate power and authority to own its property and to carry on its business as it is now being conducted, and to enter into
and perform its obligations under this Agreement.

 

10.2.No Conflicts. Manager has
all requisite power to execute, deliver and perform this Agreement. Neither the execution and delivery of this Agreement, nor the
consummation and performance of the transaction contemplated in this Agreement, will constitute a default, or an event that would
constitute a default under, or violation or breach of, Manager’s Articles of Incorporation, Bylaws or any license, lease,
franchise, mortgage, instrument, or other agreement to which Manger may be bound.

 

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10.3.Licenses and Permits. Manager
has in full force and effect all licenses, permits and certificates required to operate its business as it is being operated as
of the date of this Agreement.

 

10.4.Consents. Manager has taken
all appropriate corporate action and has obtained all necessary approvals and consents that are necessary or convenient to enable
Manager to enter into this Agreement.

 

11.Insurance
and Indemnity.

 

11.1.Professional Liability.
Group shall at all times during the Term of the Agreement, at its sole cost and expense, procure and maintain, and cause all licensed
health care personnel associated with Group’s medical practice to similarly procure and maintain, professional liability
insurance with minimum coverage limits of One Million Dollars ($1,000,000) per occurrence and Three Million Dollars ($3,000,000)
annual aggregate, and in such form and substance, and underwritten by such recognized companies, authorized to do business in California,
as Manager may from time to time reasonably require, and shall provide copies of all such policies and renewals thereof to Manager
upon request. In the event Group procures a “claims made” policy as distinguished from an “occurrence”
policy, Group will procure and maintain at its sole cost and expense, prior to termination of such insurance, “tail”
coverage to continue and extend coverage complying with this Agreement after the end of the “claims made” policy. Upon
reasonable request from Manager, Group will cause to be issued to Manager proper certificates of insurance, evidencing that the
foregoing provisions of this Agreement have been complied with, and said certificates will provide that prior to any cancellation
or change in the underlying insurance during the policy period, the insurance carrier will first give thirty (30) calendar days
written notice to Manager.

 

11.2.Indemnity. To the extent
permissible under each party’s respective policies of insurance, each party shall indemnify and hold harmless the other party,
and its shareholders, directors, officers, employees and agents, from and against all damages, costs, expenses, liabilities, claims,
demands, and judgments of whatever kind or nature, including reasonable attorneys’ fees and costs, for which either party
might liable, in whole or in part, arising out of or related to the acts and/or omissions of the indemnifying party and its shareholders,
directors, officers employees and agents.

 

11.3.Limitation of Liability.
Except for damages or liability arising from Manager’s indemnification obligations under this Agreement, the Parties acknowledge
and agree that in no event shall Manager, its affiliates and members, or their respective shareholders, directors, members, managers,
officers, employees or agents be liable to Group for any special, indirect, incidental, exemplary or consequential damages, including
without limitation loss of goodwill, lost profits, lost data or lost opportunities, in any way relating to this Agreement, even
if either party has been notified of the possibility or likelihood of such damages occurring, and whether such liability is based
on contract, tort, negligence, strict liability or otherwise. Further, except for damages or liability arising from Manager’s
indemnification obligations under this Agreement, in no event shall Manager’s liability in the aggregate for any damages
for any matter arising under this Agreement ever exceed the amount of the Management Fee payable to Manager for the three months
prior to the date of the action, regardless of the form of action, whether based on contract, tort, negligence, strict liability
or otherwise. The Parties agree that the allocation of risks under this Agreement is reasonable and appropriate under the circumstances.

 

    	10

    	 

    

 

12.General
Provisions.

 

12.1.Assignment. Neither party
shall assign any of its rights nor delegate any of its duties or obligations under this Agreement without the prior written consent
of the other party. Notwithstanding the foregoing, Manager may assign this Agreement to a successor in interest by providing notice
to Group, which notice shall state the effective date of such assignment. Upon such assignment, the successor shall be responsible
for the duties and responsibilities of Manager hereunder. Nothing contained in this Section shall prevent Manager from contracting
with subcontractors for the performance of its duties hereunder. Nothing contained in this Agreement shall be construed to prevent
the Manager from selling or conveying substantially all of its assets used in connection with the performance of this Agreement,
nor shall Group be prohibited from selling or conveying substantially all of its assets provided that the Agreement continues in
full force and effect.

 

12.2.Access to Books and Records.
Manager shall make available, upon request, to the Secretary of Health and Human Services and the Comptroller General of the United
States, or their authorized representatives, this Agreement, and all books, documents and records relating to the nature and extent
of the costs of services provided hereunder for a period of five (5) years after the furnishing of services pursuant hereto. In
addition, if Manager’s services under this Agreement are to be provided by subcontract and if that subcontract has a value
or cost of Ten Thousand Dollars ($10,000.00) or more over a twelve-month period, Manager shall require in writing that the subcontractor
make available to the Secretary and the Comptroller General, or their authorized representatives, for a period of five (5) years
after the furnishing of such services, the subcontract and all books, documents and records relating to the nature and extent of
the costs of the services provided thereunder.

 

12.3.Amendments. This Agreement
may be amended at any time by mutual agreement of the Parties without additional consideration, provided that before any amendment
shall become effective, it shall be reduced to writing and signed by the Parties. Notwithstanding the foregoing, should any provision
of this Agreement be in conflict with a governing State or federal law, it shall be deemed amended accordingly.

 

12.4.Notices. Notices required
under this Agreement shall be deemed given (i) at the time of personal delivery upon the party to be served; or (ii) twenty
four (24) hours following deposit for overnight delivery with a bonded courier holding itself out to the public as providing such
service, or following deposit in the U.S. Mail, Express Mail for overnight delivery; or (iii) forty eight (48) hours following
deposit in the U.S. Mail, registered or certified mail; and in any case postage prepaid and addressed as follows, or to such other
addresses as either party may from time to time designate to the other:

 

    	11

    	 

    

 

	To Group:	Apollomed Care Clinic, a Professional Corporation
	 	700 N. Brand Blvd, Suite 220
	 	Glendale, CA 91203
	 	 
	To Manager:	Apollo Medical Management, Inc.
	 	700 N. Brand Blvd, Suite 220
	 	Glendale, CA 91203

 

12.5.Entire Agreement. This Agreement
together with all exhibits hereto, and all documents referred to herein, is the entire Agreement between the Parties regarding
the subject matter hereof, and supersedes all other and prior agreements, whether oral or written.

 

12.6.Successors and Assigns.
This Agreement shall inure to the benefit of, and shall be binding upon, the Parties hereto and their permitted successors and
assigns.

 

12.7.Waiver of Provisions. No
waiver of any terms or conditions hereof shall be valid unless given in writing, and signed by the party giving such waiver. A
waiver of any term or condition hereof shall not be construed as a future or continuing waiver of the same or any other term or
condition hereof. The rights and remedies of the Parties to this Agreement are cumulative and not alternative. No failure to exercise,
and no delay in exercising, on the part of either party, any privilege, any power or any right hereunder will operate as a waiver
thereof, nor will any single or partial exercise of any privilege, right or power hereunder preclude further exercise of any other
privilege, right or power hereunder.

 

12.8.Governing Law. This Agreement
shall be construed in accordance with and governed by the laws of the State of California without regard to conflicts of law.

 

12.9.Severability. The provisions
of this Agreement shall be deemed severable, and if any portion shall be held invalid, illegal or unenforceable for any reason,
the remainder of this Agreement shall be effective and binding upon the Parties. The Parties further agree that if any provision
contained herein is, to any extent, held invalid or unenforceable in any respect under the laws governing this Agreement, they
shall take any actions necessary to render the remaining provisions of this Agreement valid and enforceable to the fullest extent
permitted by law and, to the extent necessary, shall amend or otherwise modify this Agreement to replace any provision contained
herein that is held invalid or unenforceable with a valid and enforceable provision giving effect to the intent of the Parties.

 

12.10.Attorneys’ Fees.
In the event that any action, including mediation or arbitration, is brought by either party arising out of or in connection with
this Agreement, the prevailing party in such action shall be entitled to recover its costs of suit, including reasonable attorneys’
fees.

 

12.11.Captions. Any captions
to or headings of the articles, sections, subsections, paragraphs, or subparagraphs of this Agreement are solely for the convenience
of the Parties, are not a part of this Agreement, and shall not be used for the interpretation or determination of any provision
hereof.

 

    	12

    	 

    

 

12.12.Cumulation of Remedies.
The various rights, options, elections, powers, and remedies of the respective Parties hereto granted by this Agreement are in
addition to any others to which the Parties may be entitled to by law, shall be construed as cumulative, and no one of them is
exclusive of any of the others, or of any right of priority allowed by law.

 

12.13.No Third Party Rights.
The Parties do not intend the benefits of this Agreement to inure to any third person not a signatory hereto; and accordingly,
this Agreement shall not be construed to create any right, claim or cause of action against either party by any person or entity
not a party hereto.

 

12.14.Construction of Agreement.
The Parties agree that each party and its counsel have participated in the review and revision of this Agreement and that any rule
of construction to the effect that ambiguities are to be resolved against the drafting party shall not apply in the interpretation
of this Agreement. All words used in this Agreement will be construed to be of such gender or number as the circumstances require.
Unless otherwise expressly provided, the word “including” does not limit the preceding words or terms. The language
used in the Agreement will be construed, in all cases, according to its fair meaning, and not for or against any party hereto.
The Parties acknowledge that each party has reviewed this Agreement and that rules of construction to the effect that any ambiguities
are to be resolved against the drafting party will not be available in the interpretation of this Agreement.

 

12.15.Counterparts. This Agreement
may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

12.16.Survival. The following
provisions of this Agreement shall survive any termination hereof: Section 3 (Confidentiality), Section 6.6 (Effect of Termination),
Section 11 (Insurance and Indemnity), and Section 12.2 (Access to Books and Records).

 

12.17.Jeopardy. In the event
the performance by any Party hereto of any term, covenant, condition or provision of this Agreement should be determined by a state
or federal court or governmental agency to be in violation of any statute, ordinance, or be otherwise deemed illegal (“Jeopardy
Event”), then the Parties will use their best efforts to meet forthwith and attempt to negotiate an amendment to this Agreement
to remove or negate the effect of the Jeopardy Event. In the event the Parties are unable to negotiate such an amendment within
thirty (30) days following written notice by any Party of the Jeopardy Event, then any other Party may terminate this Agreement
immediately upon written notice.

 

(Signature Page Follows)

 

    	13

    	 

    

 

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

 

	 	Apollo Medical Management, Inc.
	 	(“MANAGER”):
	 	 	 
	 	By:	/s/ Kyle Francis
	 	 	 
	 	Its:	Chief Financial Officer
	 	 	 
	 	Apollomed Care Clinic, a Professional Corporation
	 	(“Group”):
	 	 	 
	 	By:	/s/ Warren Hosseinion, M.D.
	 	 	 
	 	Its:	Chief Executive Officer

 

    	14

    	 

    

 

Exhibit A

 

Management Services

 

Group hereby engages Manager to provide
the management services described herein, and Manager hereby accepts such engagement, all on the terms and conditions set out herein.
Manager shall carry out its duties at the direction of Group and keep Group informed as to all major policy matters and other major
decisions. Manager shall have all reasonable discretion in Group’s non-clinical operations and shall exercise Manager’s
reasonable judgment in the management and operation of the administrative aspects in the absence of specific direction from Group.

 

Subject to the direction and approval of
Group, Manager shall use its commercially reasonable efforts to perform the following management duties pursuant to this Agreement:

 

(a)Business Matters. Manager, on
behalf of Group in its sole discretion, will maintain oversight and conduct an annual review and approval of utilization management
activities; Manager shall determine and maintain adequate reserves to perform all duties as required by Group, including maintaining
the Tangible Net Equity (“TNE”) at levels required by the DMHC of all Risk Bearing Organizations (“RBOs”)
in the state; Manager will maintain oversight and, unless otherwise determined by Group, conduct an annual review of Group’s
Credentialing and Recredentialing activities.

 

(b)Management & Clinical Information
Systems. Upon request and in consultation with Group, the planning, negotiation with third party vendors, selection, installation
and operation of appropriate hardware and software (including but not limited to the Apollo Web database technology) to provide
Group with management and clinical information systems support. All clinical and financial data pertaining to Group’s practice
shall be regularly backed up on electronic media, with additional hard copy back up when in the judgment of Manager, after consultation
with Group, it is prudent to do so, and copies of such back up data in both electronic media and hard copy shall be provided to
Group from time to time upon request of Group. Upon termination of this Agreement for any reason, all such data and back up data
shall be promptly delivered to Group to ensure continuity of Group’s financial and clinical operations. All such services
shall comply, as appropriate, with the Health Insurance Portability and Accountability Act of 1996, and the regulations promulgated
thereto (“HGroupA”).

 

(c)UR/QA. Assisting Group in the
establishment and implementation of a program or programs of utilization review and quality assurance for the activities of Group,
and in the formulation and implementation of related policies, procedures and protocols including, but not limited to both a monitoring
function and the development and implementation of performance parameters, evidence based medicine protocols, and outcomes measurements

 

(d)Advertising. Marketing of physician
services to hospitals, and otherwise coordinating advertising, marketing and similar activities conducted on behalf of Group, after
consultation with Group.

 

(e)Capital. Consulting with Group
regarding capital and financial needs, including seeking capital, undertaking the efforts to raise, and providing access to, capital
for any lawful purpose, including without limitation working capital, acquiring other physician practices and acquiring other business
assets of the practice.

 

    	A-1

    	 

    

 

(f)Contract Negotiation. Manager
shall assist Group in setting the parameters under which Group will enter into, and in negotiating, contractual relations with
hospitals and third party payors.

 

(g)Oversight of Subcontractors.
Manager shall assist Group in setting parameters for and providing oversight of Group’s non-medical subcontract managers,
including Prospect Medical Group (and its successors or assigns, as applicable) (“Subcontractors”).

 

(h)Annual Operating Plan. Manager
will assist Group in preparing the annual operating plan of Group. Manager will prepare the Annual Operating Plan and submit it
to Group no later than 90 days prior to the end of the calendar year. Group will be obligated to approve the Annual Operating Plan
submitted by Manager no later than 30 days prior to the end of the calendar year.

 

(i)Major Decision Making. Manager
will have the right to enter into commitments and financial obligations on behalf of Group without prior Group approval for amounts
included in the Operating Plan. To the extent the transaction is outside the Operating Plan, Manager will have the right to bind
Group for amounts up to $1,000,000 without prior Group approval.

 

(j)Other Services. Providing such
other services as may be agreed between the Parties from time to time which may include, but not be limited to, physician recruitment
services, contracting services (with hospitals and payors), physicians scheduling, payroll services for the physicians (as well
as management company personnel), case management for patients, business strategy, and operating performance management.

 

    	A-2

    	 

    

 

Exhibit B

 

Management Fee

 

(a)In consideration of the management
services to be rendered by Manager hereunder, Group shall pay Manager, each month, ten percent (10%) of Group’s gross revenue
that Group receives for the performance of medical services by Group.

 

(b)On or before the twentieth (20th) day
of the month following each month, Manager may deduct and pay to itself, from any account(s) of Group managed by Manager, all amounts
due and owing to Manager as management fees for the immediately preceding month.

 

(c)Group desires to incentivize Manager
to achieve operational and financial objectives as determined in the Operating Plan. Following the end of the calendar year, Group
will pay Manager a bonus of 50% of the Group’s excess cash, provided the operating and financial objectives mutually agreed
to by Group and Manager and set forth in the Operating Plan are met. “Excess cash” for the calendar year shall be the
amount of Group’s annual net income (or loss) in excess of the target net income as mutually agreed upon by Manager and Group
and set forth in the Operating Plan. The Group’s annual net income (or loss) will be determined in accordance with U.S. generally
accepted accounting principles and consistent with the Operating Plan.

 

    	C-1

    	 

    

 

Exhibit C

 

HIPAA BUSINESS ASSOCIATE AGREEMENT

 

THIS BUSINESS ASSOCIATE AGREEMENT is made as of the 31st
day of July, 2013 by and between Apollomed Care Clinic (“Covered Entity”) and Apollo Medical Management Inc.

 

RECITALS:

 

WHEREAS, Apollo Medical Management Inc.,
(hereinafter referred to as “Business Associate”), provides services for Covered Entity (the “Service Arrangement”)
pursuant to which Covered Entity may disclose Protected Health Information (“PHI”) to Business Associate in order to
enable Business Associate to perform one or more functions for Covered Entity related to Treatment, Payment or Health Care Operations;
and

 

WHEREAS, the parties desire to comply with
the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) and the Final Rule for Standards for Privacy
of Individually Identifiable Health Information adopted by the United States Department of Health and Human Services and codified
at 45 C.F.R. part 160 and part 164, subparts A & E (the “Privacy Rule”), the HIPAA Security Rule, codified at 45
C.F.R. Part 164 Subpart C (the “Security Rule”) and Subtitle D of the Health Information Technology for Economic and
Clinical Health Act (“HITECH”) including 45 C.F.R. Sections 164.308, 164.310, 164.312 and 164.316.

 

NOW THEREFORE, the parties to this Agreement
hereby agree as follows:

 

		1.	Definitions. Terms used, but not otherwise defined, in this Agreement shall have the same meaning as those terms in
45 C.F.R. §§ 160.103, 164.103, and 164.304, 164.501 and 164.502.

 

		2.	Obligations and Activities of Business Associate.

 

		a.	Business Associate agrees to not use or further disclose PHI other than as permitted or required by this Agreement, as Required
by Law or as permitted by law, provided such use or disclosure would also be permissible by law by Covered Entity.

 

		b.	Business Associate agrees to use appropriate safeguards to prevent use or disclosure of the PHI other than as provided for
by this Agreement. Business Associate agrees to implement Administrative Safeguards, Physical Safeguards and Technical Safeguards
(“Safeguards”) that reasonably and appropriately protect the confidentiality, integrity and availability of PHI as
required by the “Security Rule”, including those safeguards required pursuant to 45 C.F.R. §§ 164.308,
164.310, 164.312, 164.314 and 164.316, in the same manner that those requirements apply to Covered Entity pursuant to 45 C.F.R.
§ 164.504.

 

    	D-1

    	 

    

 

		c.	Business Associate agrees to mitigate, to the extent practicable, any harmful effect that is known to Business Associate of
a use or disclosure of PHI by Business Associate in violation of the requirements of this Agreement.

 

		d.	Business Associate agrees to report to Covered Entity any use or disclosure for the PHI not provided for by this Agreement,
including breaches of unsecured PHI as required by 45 C.F.R. § 164.410, and any Security Incident of which it becomes aware.

 

		e.	Business Associate agrees to ensure that any agent, including a subcontractor or vendor, to whom it provides PHI received from,
or created or received by Business Associate on behalf of Covered Entity agrees to the same restrictions and conditions that apply
through this Agreement to Business Associate with respect to such information through a contractual arrangement that complies with
45 C.F.R. § 164.314.

 

		f.	Business Associate agrees to provide paper or electronic access, at the request of Covered Entity and in the time and manner
designated by Covered Entity, to PHI in a Designated Record Set to Covered Entity or, as directed by Covered Entity, to an Individual
in order to meet the requirements under 45 C.F.R. § 164.524. If the Individual requests an electronic copy of the information,
Business Associate must provide Covered Entity with the information requested in the electronic form and format requested by the
Individual and/or Covered Entity if it is readily producible in such form and format; or, if not, in a readable electronic form
and format as requested by Covered Entity.

 

		g.	Business Associate agrees to make any amendment(s) to PHI in a Designated Record Set that Covered Entity directs or agrees
to pursuant to 45 C.F.R. §164.526 at the request of Covered Entity or an Individual, and in the time and manner designated
by Covered Entity.

 

		h.	Business Associate agrees to make its internal practices, books, and records relating to the use and disclosure of PHI received
from, created or received by Business Associate on behalf of Covered Entity available to Covered Entity, or at the request of Covered
Entity to the Secretary, in a time and manner designated by Covered Entity or the Secretary, for the purposes of the Secretary
determining Covered Entity’s compliance with the Privacy Rule and Security Rule.

 

		i.	Business Associate agrees to document such disclosures of PHI and information related to such disclosures as would be required
for Covered Entity to respond to a request by an Individual for an accounting of disclosures of PHI in accordance with 45 C.F.R.
§164.528.

 

		j.	Business Associate agrees to provide to Covered Entity or an Individual, in a time and manner designated by Covered Entity,
information collected in accordance with this Agreement, to permit Covered Entity to respond to a request by an individual for
an accounting of disclosures for PHI in accordance with 45 §C.F.R. 164.528.

 

    	D-2

    	 

    

 

		k.	If Business Associate accesses, maintains, retains, modifies, records, stores, destroys, or otherwise holds, uses, or discloses
Unsecured Protected Health Information (as defined in 45 C.F.R. § 164.402) for Covered Entity, it shall, following the discovery
of a breach of such information, promptly notify Covered Entity of such breach. Such notice shall include: a) the identification
of each individual whose Unsecured Protected Health Information has been, or is reasonably believed by Business Associate to have
been accessed, acquired or disclosed during such breach; b) a brief description of what happened, including the date of the breach
and discovery of the breach; c) a description of the type of Unsecured PHI that was involved in the breach; d) a description of
the investigation into the breach, mitigation of harm to the individuals and protection against further breaches; e) the results
of any and all investigation performed by Business Associate related to the breach; and f) contact information of the most knowledgeable
individual for Covered Entity to contact relating to the breach and its investigation into the breach.

 

		l.	Business Associate agrees that it will not receive remuneration directly or indirectly in exchange for PHI without authorization
unless an exception under 13405(d) of the HITECH Act applies.

 

		m.	Business Associate agrees that it will not receive remuneration for certain communications that fall within the exceptions
to the definition of Marketing under 45 C.F.R. §164.501 unless permitted by the HITECH Act.

 

		n.	Business Associate agrees that it will not use or disclose genetic information for underwriting purposes, as that term is defined
in 45 C.F.R. § 164.502.

 

		o.	Business Associate hereby agrees to comply with state laws applicable to PHI and personal information of individuals’
information it receives from Covered Entity, including the Massachusetts Data Security Regulations, 201 CMR 17.00 during the term
of the Agreement.

 

		i.	Business Associate agrees to: (a) implement and maintain appropriate physical, technical and administrative security measures
for the protection of personal information as required by any state law, including 201 CMR 17.00; including, but not limited
to: (i) encrypting all transmitted records and files containing personal information that will travel across public networks, and
encryption of all data containing personal information to be transmitted wirelessly; (ii) prohibiting the transfer of personal
information to any portable device unless such transfer has been approved in advance; and (iii) encrypting any personal information
to be transferred to a portable device; and (b) implement and maintain a Written Information Security Program as required by any
state law, including 201 CMR 17.00.

 

    	D-3

    	 

    

 

		ii.	The safeguards set forth in this Agreement shall apply equally to PHI, confidential and “personal information.”
Personal information means an individual's first name and last name or first initial and last name in combination with any one
or more of the following data elements that relate to such resident: (a) Social Security number; (b) driver's license number or
state-issued identification card number; or (c) financial account number, or credit or debit card number, with or without any required
security code, access code, personal identification number or password, that would permit access to a resident's financial account;
provided, however, that "personal information" shall not include information that is lawfully obtained from publicly
available information, or from federal, state or local government records lawfully made available to the general public.

 

		3.	Permitted Uses and Disclosures by Business Associate.

 

		a.	Except as otherwise limited to this Agreement, Business Associate may use or disclose PHI to perform functions, activities,
or services for, or on behalf of, Covered Entity as specified in the Service Arrangement, provided that such use or disclosure
would not violate the Privacy Rule if done by Covered Entity or the minimum necessary policies and procedures of Covered Entity
required by 45 C.F.R. §164.514(d).

 

		b.	Except as otherwise limited in this Agreement, Business Associate may use PHI for the proper management and administration
of the Business Associate or to carry out the legal responsibilities of the Business Associate.

 

		c.	Except as otherwise limited in this Agreement, Business Associate may disclose PHI for the proper management and administration
of the Business Associate, provided that disclosures are Required By Law, or Business Associate obtains reasonable assurances from
the person to whom the information is disclosed that it will remain confidential and used or further disclosed only as Required
By Law or for the purpose for which it was disclosed to the person, and the person notifies the Business Associate of any instances
of which it is aware in which the confidentiality of the information has been breached.

 

		d.	Except as otherwise limited in this Agreement, Business Associate may use PHI to provide Data Aggregation services to Covered
Entity as permitted by 45 C.F.R. §164.504 (e)(2)(i)(B).

 

		e.	Business Associate may use PHI to report violations of law to appropriate Federal and State authorities, consistent with 45
C.F.R. §164.502(j)(1).

 

		4.	Obligations of Covered Entity

 

		a.	Covered Entity shall notify Business Associate of any limitation(s) in its notice of privacy practices of Covered Entity in
accordance with 45 C.F.R. § 164.520, to the extent that such limitation may affect Business Associate’s use or disclosure
of PHI.

 

    	D-4

    	 

    

 

		b.	Covered Entity shall notify Business Associate of any changes in, or revocation of, permission by an Individual to use or disclose
PHI to the extent that such changes may affect Business Associate’s use or disclosure of PHI.

 

		c.	Covered Entity shall notify Business Associate of any restriction to the use or disclosure of PHI that Covered Entity has agreed
to in accordance with 45 C.F.R. §164.522, to the extent that such restriction may affect Business Associate’s use or
disclosure of PHI.

 

		5.	Permissible Requests by Covered Entity

 

Covered Entity shall not request Business Associate
to use or disclose PHI in any manner that would not be permissible under the Privacy Rule if done by Covered Entity, provided that,
to the extent permitted by the Service Arrangement, Business Associate may use or disclose PHI for Business Associate’s Data
Aggregation activities or proper management and administrative activities.

 

		6.	Term and Termination.

 

		a.	The term of this Agreement shall begin as of the effective date of the Service Arrangement and shall terminate when all of
the PHI provided by Covered Entity to Business Associate, or created or received by Business Associate on behalf of Covered Entity,
is destroyed or returned to Covered Entity, or, if it is infeasible to return or destroy PHI, protections are extended to such
information, in accordance with the termination provisions of this Section.

 

		b.	Upon Covered Entity’s knowledge of a material breach by Business Associate, Covered Entity shall either:

 

		i.	Provide an opportunity for Business Associate to cure the breach or end the violation and terminate this Agreement and the
Service Arrangement if Business Associate does not cure the breach or end the violation within the time specified by Covered Entity.

 

		ii.	Immediately terminate this Agreement and the Service arrangement if Business Associate has breached a material term of this
Agreement and cure is not possible; or

 

		iii.	If neither termination nor cure is feasible, Covered Entity shall report the violation to the Secretary.

 

		c.	Except as provided in paragraph (d) of this Section, upon any termination or expiration of this Agreement, Business Associate
shall return or destroy all PHI received from Covered Entity, or created or received by Business Associate on behalf of Covered
Entity. This provision shall apply to PHI that is in the possession of subcontractors or agents of Business Associate. Business
Associate shall retain no copies of the PHI. Business Associate shall ensure that its subcontractors or vendors return or destroy
any of Covered Entity’s PHI received from Business Associate.

 

    	D-5

    	 

    

 

		d.	In the event that Business Associate determines that returning or destroying the PHI is infeasible, Business Associate shall
provide to Covered Entity notification of the conditions that make return or destruction infeasible. Upon Covered Entity’s
written agreement that return or destruction of PHI is infeasible, Business Associate shall extend the protections of this Agreement
to such PHI and limit further uses and disclosures of such PHI to those purposes that make the return or destruction infeasible,
for so long as Business Associate maintains such PHI.

 

		7.	Miscellaneous.

 

		a.	A reference in this Agreement to a section in the Privacy Rule or Security Rule means the section as in effect or as amended.

 

		b.	The Parties agree to take such action as is necessary to amend this Agreement from time to time as is necessary for Covered
Entity to comply with the requirements of HIPAA, the Privacy and Security Rules and HITECH.

 

		c.	The respective rights and obligations of Business Associate under Section 6 (c) and (d) of this Agreement shall survive the
termination of this Agreement.

 

		d.	Any ambiguity in this Agreement shall be resolved to permit Covered Entity to comply with HIPAA and HITECH.

 

		e.	Business Associate is solely responsible for all decisions made by Business Associate regarding the safeguarding of PHI.

 

		f.	Nothing express or implied in this Agreement is intended to confer, nor shall anything herein confer upon any person other
than Covered Entity, Business Associate and their respective successors and assigns, any rights, remedies, obligations or liabilities
whatsoever.

 

		g.	Modification of the terms of this Agreement shall not be effective or binding upon the parties unless and until such modification
is committed to writing and executed by the parties hereto.

 

		h.	This Agreement shall be binding upon the parties hereto, and their respective legal representatives, trustees, receivers, successors
and permitted assigns.

 

		i.	Should any provision of this Agreement be found unenforceable, it shall be deemed severable and the balance of the Agreement
shall continue in full force and effect as if the unenforceable provision had never been made a part hereof.

 

    	D-6

    	 

    

 

		j.	This Agreement and the rights and obligations of the parties hereunder shall in all respects be governed by, and construed
in accordance with, the laws of the State of California, including all matters of construction, validity and performance.

 

		k.	All notices and communications required or permitted to be given hereunder shall be sent by certified or regular mail, addressed
to the other part as its respective address as shown on the signature page, or at such other address as such party shall from time
to time designate in writing to the other party, and shall be effective from the date of mailing.

 

		l.	This Agreement, including such portions as are incorporated by reference herein, constitutes the entire agreement by, between
and among the parties, and such parties acknowledge by their signature hereto that they do not rely upon any representations or
undertakings by any person or party, past or future, not expressly set forth in writing herein.

 

		m.	Business Associate shall maintain or cause to be maintained sufficient insurance coverage as shall be necessary to insure Business
Associate and its employees, agents, representatives or subcontractors against any and all claims or claims for damages arising
under this Business Associate Agreement and such insurance coverage shall apply to all services provided by Business Associate
or its agents or subcontractors pursuant to this Business Associate Agreement. Business Associate shall indemnify, hold harmless
and defend Covered Entity from and against any and all claims, losses, liabilities, costs and other expenses (including but not
limited to, reasonable attorneys’ fees and costs, administrative penalties and fines, costs expended to notify individuals
and/or to prevent or remedy possible identity theft, financial harm, reputational harm, or any other claims of harm related to
a breach) incurred as a result of, or arising directly or indirectly out of or in connection with any acts or omissions of Business
Associate, its employees, agents, representatives or subcontractors, under this Business Associate Agreement, including, but not
limited to, negligent or intentional acts or omissions. This provision shall survive termination of this Agreement.

 

(Signature Page Follows)

 

    	D-7

    	 

    

 

IN WITNESS WHEREOF, the undersigned have executed this
Agreement as of the date first set forth above.

 

	COVERED ENTITY
	Apollomed Care Clinic, a Professional Corporation
	 
	/s/ Warren Hosseinion, M.D.
	By: Warren Hosseinion, M.D.
	Title: CEO
	 
	BUSINESS ASSOCIATE
	Apollo Medical Management Inc.
	 
	/s/ Kyle Francis
	By: Kyle Francis
	Title: CFO

 

    	D-8

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