Document:

EX-10.1

 Exhibit 10.1 

Execution 

SECURITIES PURCHASE AGREEMENT 

Securities Purchase Agreement (this “Agreement”), dated December 7, 2015, by and among Accretive Health, Inc., a
Delaware corporation (the “Company”), TCP-ASC ACHI Series LLLP, a Delaware limited liability limited partnership (the “Investor”), and, solely for purposes of Sections 8.11, 9.2, 10.1,
10.2 and 10.5 through 10.15, Ascension Health Alliance d/b/a Ascension (“Ascension Health”). 

WHEREAS, on the terms and conditions set forth in this Agreement, the Company desires to sell, and the Investor desires to purchase, shares of
the Company’s 8.00% Series A Convertible Preferred Stock, par value $0.01 per share (the “Series A Preferred”); 

WHEREAS, in connection with such purchase and sale, the Company and the Investor desire to make certain representations and warranties and
enter into certain agreements; 
 WHEREAS, in connection with such purchase and sale, the Company and the Investor will execute and deliver
among other things; (i) a registration rights agreement in the form attached as Exhibit A (the “Registration Rights Agreement”), (ii) an investor rights agreement in the form attached as Exhibit B (the
“Investor Rights Agreement”), and (iii) a warrant in the form attached as Exhibit C (the “Warrant Agreement”); and 

WHEREAS, in connection with the execution and delivery of this Agreement, and as a condition and inducement to the Company’s willingness
to enter into this Agreement, the Investor has delivered to the Company the Equity Funding Letter (as defined below), pursuant to which the investors named therein (the “Equity Investors”) have, subject to the terms and conditions
set forth therein, committed to provide all of the funds to the Investor that are necessary for the Investor to finance all of the Investor’s obligations at Closing (as defined below) contemplated hereby. 

NOW THEREFORE, in consideration of the foregoing and the representations, warranties and agreements set forth in this Agreement, and intending
to be legally bound by this Agreement, the Company and the Investor agree as follows: 
 1. Definitions. As used in this
Agreement, the following terms shall have the respective meanings set forth in this Section 1: 
 “2014 Annual
Report” shall have the meaning set forth in Section 4.13(e). 
 “Acceptable Confidentiality Agreement”
shall mean a customary confidentiality agreement (which need not prohibit the making of a Takeover Proposal) with terms no less favorable in the aggregate to the Company than those contained in the Confidentiality Agreement (other than that it need
not prohibit the making of a Takeover Proposal); provided that an Acceptable Confidentiality Agreement may include provisions that are less favorable in the aggregate to the Company than those contained in the Confidentiality Agreement so
long as the Company offers to amend the Confidentiality Agreement concurrently with execution of such Acceptable Confidentiality Agreement to include substantially similar provisions for the benefit of the parties thereto. 

 “Affiliate” shall mean, as to any Person, any other Person that, directly or
indirectly, controls, or is controlled by, or is under common control with, such Person. For this purpose, “control” (including, with its correlative meanings, “controlled by” and “under common control with”) shall mean
the possession, directly or indirectly, of the power to direct or cause the direction of management or policies of a Person, whether through the ownership of securities or partnership or other ownership interests, by contract or otherwise. 

“Antitrust Laws” shall have the meaning set forth in Section 8.7. 

“ARRA” shall mean the Health Information Technology for Economic and Clinical Health Act provisions of the American Recovery
and Reinvestment Act of 2009, Pub. Law No. 111-5 and its implementing regulations 42 C.F.R. §§ 412, 413, 422 and 495. 

“Ascension Health” shall have the meaning set forth in the preamble of this Agreement. 

“Authorizations” shall have the meaning set forth in Section 8.7. 

“Board” shall mean the Board of Directors of the Company. 

“Business Day” shall mean a day except a Saturday, a Sunday or other day on which the SEC or banks in the City of New York
are authorized or required by Law to be closed. 
 “Clayton Act” shall mean the Clayton Act of 1914. 

“Closing” shall have the meaning set forth in Section 3. 

“Closing Date” shall have the meaning set forth in Section 3. 

“Code” shall mean the Internal Revenue Code of 1986, together with all regulations, rulings and interpretations thereof or
thereunder by the Internal Revenue Service. 
 “Common Stock” shall mean the common stock of the Company, par value $0.01
per share. 
 “Company” shall have the meaning set forth in the preamble of this Agreement. 

“Company Charter Documents” shall mean the certificate of incorporation and bylaws of the Company, in each case as amended to
the date of this Agreement. 
 “Company Financial Advisor” shall have the meaning set forth in Section 4.20.

 “Company Material Contract” shall have the meaning set forth in Section 4.10. 

“Company Permits” shall have the meaning set forth in Section 4.15. 

“Company Plans” shall mean (a) each material “employee benefit plan” (as such term is defined in
Section 3(3) of ERISA) that the Company or any Company Subsidiary sponsors, participates in, is a party or contributes to, or with respect to which the Company or any Company Subsidiary could reasonably be expected to have any material
liability and (b) each 

  
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other material fringe benefit or employee benefit plan, program or arrangement, including any stock option, stock purchase, stock appreciation right or other stock or stock-based incentive plan,
cash bonus or incentive compensation arrangement, retirement or deferred compensation plan, supplemental executive retirement plan, profit sharing plan, unemployment or severance compensation plan, vacation, or employment or individual consulting
agreement, in each case whether written or unwritten, for any current or former employee or director of, or other individual service provider to, the Company or any Company Subsidiary that does not constitute an “employee benefit plan” (as
defined in Section 3(3) of ERISA), that the Company or any Company Subsidiary presently sponsors, participates in, is a party or contributes to, or with respect to which the Company or any Company Subsidiary could reasonably be expected to have
any material liability, but other than any Foreign Benefit Plan or any benefit or compensation plan, program or arrangement sponsored, maintained or administered by a Governmental Authority or required to be maintained or contributed to by Law. 

“Company Stock Plans” shall mean, collectively, the Amended and Restated Stock Option Plan adopted February 22, 2006,
the Amended and Restated 2010 Stock Incentive Plan and any other plan, program or arrangement providing for the grant of equity-based awards to directors, officers, employees or other service provides of the Company or any Company Subsidiaries. 

“Company Subsidiaries” shall mean all Subsidiaries of the Company. 

“Confidentiality Agreement” shall mean that certain Confidentiality Agreement, dated as of September 24, 2014, between
Ascension Health Alliance d/b/a Ascension and the Company as supplemented by the letter agreement, dated September 30, 2014, between Ascension Health Alliance d/b/a Ascension and TowerBrook Capital Partners L.P., in each case as may be amended
from time to time. 
 “Contract” shall mean, with respect to any Person, any legally binding loan or credit agreement,
debenture, note, bond, mortgage, indenture, deed of trust, lease, sublease, commitment, sale or purchase order, license, contract or other agreement, instrument or obligation, whether written or oral, to which such Person is a party or by which such
person or such Person’s properties or assets are bound. 
 “Deductible” shall have the meaning set forth in
Section 10.4(a). 
 “DGCL” shall mean the General Corporation Law of the State of Delaware. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974. 

“Equity Financing” shall have the meaning set forth in Section 5.7. 

“Equity Funding Letter” shall have the meaning set forth in Section 5.7. 

“Equity Investors” shall have the meaning set forth in the recitals of this Agreement. 

“Exchange” shall have the meaning set forth in Section 8.10. 

  
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 “Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, and the
rules and regulations promulgated by the SEC thereunder. 
 “Federal Trade Commission Act” shall mean the Federal Trade
Commission Act of 1914. 
 “Filed SEC Reports” shall mean all forms, statements, certifications, reports and documents
required to be filed or furnished by the Company with the SEC pursuant to the Exchange Act on or after January 1, 2014 (collectively, and in each case including all exhibits and schedules thereto and documents incorporated by reference therein,
as such statements and reports may have been amended since the date of their filing), but excluding any disclosure under the headings “Risk Factors,” “Forward Looking Statements,” or any similar precautionary, predictive or
forward-looking sections included therein. 
 “Foreign Benefit Plan” shall mean any compensation or benefit plan or
arrangement that is maintained or contributed to by the Company or any Company Subsidiary for the benefit of employees or individual workers located primarily outside the United States, other than any benefit or compensation plan or arrangement
maintained by a Governmental Authority or required to be maintained or contributed to by Law. 
 “Fundamental Reps” shall
have the meaning set forth in Section 10.3. 
 “GAAP” shall mean United States generally accepted accounting
principles, as in effect from time to time, applied on a consistent basis. 
 “Governmental Authority” shall mean any
foreign governmental authority, the United States of America, any state of the United States and any political subdivision of any of the foregoing, and any agency, instrumentality, department, commission, board, bureau, central bank, authority,
court or other tribunal, in each case whether executive, legislative, judicial, regulatory or administrative. 
 “Government
Sponsored Health Care Program” shall mean (a) the Medicare Program established under and governed by the applicable provisions of Title XVIII of the Social Security Act, the regulations promulgated thereunder and any sub-regulatory
guidance issued, (b) the Medicaid program governed by the applicable provisions of Title XIX of the Social Security Act, the regulations promulgated thereunder, as well as any state Law implementing the Medicaid program, and (c) any other
state or federal health care program or plan. 
 “Health Care Laws” shall mean any and all Laws pertaining to health
regulatory matters including, without limitation, laws relating to: (a) the licensure, certification, qualification or authority to transact business in connection with the provision of, payment for, or arrangement of, health care services,
including Laws that regulate providing administrative services or other functions in connection with, the provision of, payment for or arrangement of health care services; (b) health care or health insurance fraud and abuse, including but not
limited to the federal health care program anti-kickback statute (42 U.S.C. § 1320a-7b(b)), the federal civil False Claims Act (31 U.S.C. § 3729 et seq.), and the federal Civil Monetary Penalties Law (42 U.S.C.
§§ 1320a-7,1320a-7a and 1320a-7b), and similar state laws; (c) Government Sponsored Health Care Programs; (d) quality, safety certification and accreditation standards and requirements; (e) the provision of
administrative, management or other services to any health 

  
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care providers, including the administration of health care claims or benefits or processing or paying for health care services, treatment or supplies furnished by providers; (f) the
Emergency Medical Treatment and Labor Act (42 U.S.C. § 1395dd) and (g) all Information Laws. 
 “HIPAA”
shall mean the Health Insurance Portability and Accountability Act of 1996, as amended by ARRA, and as otherwise may be amended from time to time, including the Privacy Standards (45 C.F.R. Parts 160 and 164), the Electronic Transactions Standards
(45 C.F.R. Parts 160 and 162), and the Security Standards (45 C.F.R. Parts 160, 162 and 164) promulgated under the Administrative Simplifications subtitle of the Health Insurance Portability and Accountability Act of 1996. 

“HSR Act” shall mean the Hart-Scott-Rodino Antitrust Improvements Act of 1976. 

“Indebtedness” shall mean any (a) indebtedness for borrowed money, (b) indebtedness evidenced by any bond,
debenture, mortgage, indenture or other debt instrument or debt security, (c) accounts payable to trade creditors and accrued expenses, in each case, not arising in the ordinary course of business, (d) amounts owing as deferred purchase
price for the purchase of any property, (e) capital lease obligations and (f) guarantee of any such indebtedness, obligations or debt securities of a type described in clauses (a) through and (e) above of any other Person. 

“Indemnifiable Health Care Matter” shall have the meaning set forth in Section 10.4. 

“Indemnitees” shall have the meaning set forth in Section 10.4. 

“Indemnified Liabilities” shall have the meaning set forth in Section 10.4. 

“Indemnity Percentage” means the percentage resulting from (x) the Ownership Percentage divided by
(y) 1 minus the Ownership Percentage. 
 “Information Laws” shall mean all applicable Laws concerning the
privacy or security (or both) of personal data of or concerning an individual (including “Protected Health Information” as that term is defined under HIPAA), including, where applicable, HIPAA, ARRA and state data breach notification Laws.

 “Intellectual Property” shall have the meaning set forth in Section 4.11. 

“Investor” shall have the meaning set forth in the preamble of this Agreement. 

“Investor Rights Agreement” shall have the meaning set forth in the recitals of this Agreement. 

“Knowledge” of the Company shall mean the actual knowledge, as of the date of this Agreement, of Dr. Emad Rizk, Peter
Csapo, Joseph Flanagan, David Mason, Daniel Zaccardo, Corey Perman and Erik Sprotte, after reasonable inquiry of their respective direct reports. 

“Law” shall mean any applicable federal, state, local, foreign or other law, statute, regulation, rule, ordinance, code,
convention, directive, order, judgment or other legal requirement. 

  
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 “Legal Proceeding” shall mean any legal, administrative or arbitral proceeding,
claim, suit, investigation, mediation, demand, informal inquiry, request for documents or action. 
 “Lien” shall mean,
with respect to any property or asset, any pledge, lien, charge, mortgage, deed of trust, lease, sublease, license, restriction, hypothecation, right of first refusal or offer, conditional sales or other title retention agreement, adverse claim of
ownership or use, easement, encroachment, right of way or other title defect, encumbrance, option to purchase or lease or otherwise acquire any interest, and security interest of any kind or nature whatsoever. 

“Limited Guaranty” shall mean that certain Limited Guaranty, dated as of December 7, 2015 by the entities listed in
Schedule A thereto as guarantors, in favor of the Company. 
 “Material Adverse Effect” shall mean any condition, change,
event, occurrence or effect that, individually or in the aggregate with all other conditions, changes, events, occurrences or effects, is or would reasonably be expected to be (a) materially adverse to the business, assets, liabilities
(contingent or otherwise), results of operations or financial condition of the Company and the Company Subsidiaries taken as a whole; other than any condition, change, event, occurrence or effect, directly or indirectly, arising out of, resulting
from or relating to the following: (i) any condition, change, event, occurrence or effect in any of the industries or markets in which the Company or any Company Subsidiaries operates; (ii) any enactment of, change in, or change in
interpretation of, any Law or GAAP or governmental policy (it being understood that this clause (ii) shall not apply with respect to a representation or warranty contained in this Agreement to the extent that the purpose of such representation
or warranty is to address compliance with applicable Law or GAAP); (iii) general economic, regulatory or political conditions (or changes therein) or conditions (or changes therein) in the financial, credit or securities markets (including
changes in interest or currency exchange rates) in any country or region in which the Company or any Company Subsidiaries conducts business; (iv) any acts of God, natural disasters, terrorism, armed hostilities, sabotage, war or any escalation
or worsening of acts of terrorism, armed hostilities or war; (v) the announcement, pendency of or performance of the transactions contemplated hereby, including any legal, administrative or arbitral proceeding, claim, suit, investigation,
mediation, demand, informal inquiry, request for documents or action in respect of this Agreement or any of the transactions contemplated hereby or by reason of the identity of the Investor or any communication by the Investor regarding the plans or
intentions of the Investor with respect to the conduct of the business of the Company or any Company Subsidiaries and including the impact of any of the foregoing on any relationships, contractual or otherwise, with customers, suppliers,
distributors, collaboration partners, employees or regulators (it being understood that this clause (v) shall not apply with respect to the representations and warranties set forth in Sections 4.4 and Section 4.7); (vi) any action
taken by the Company that is expressly required by the terms of this Agreement or with the consent or at the direction of the Investor (it being understood that this clause (vi) shall not apply with respect to the representations and warranties
set forth in Sections 4.4 and Section 4.7); (vii) any decline in the market price, or change in trading volume, of the capital stock of the Company (it being understood that the facts or occurrences giving rise or contributing to such
decline in market price or such change in trading volume may be deemed to constitute, or be taken into account in determining whether there has been, or would reasonably be expected to be, a Material Adverse Effect); and (viii) any failure, in
and of itself, by the Company or any Company Subsidiaries to meet internal, analysts’ or other earnings estimates or financial 

  
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projections or forecasts for any period ending, or any changes in credit ratings and any changes in any analysts recommendations or ratings with respect to the Company or any Company
Subsidiaries, on or after the date hereof (it being understood that the facts or occurrences giving rise or contributing to such failure may be deemed to constitute, or be taken into account in determining whether there has been, or would reasonably
be expected to be, a Material Adverse Effect); (ix) any pending, initiated or threatened legal or administrative proceeding, claim, suit or action against the Company, any Company Subsidiaries or any of their respective officers or directors,
in each case, arising out of or relating to the execution of this Agreement or the transactions contemplated hereby, and (x) any change in the relationship with Ascension Health or any of its ministries to the extent, in each of clauses
(i) through (iv), that such condition, change, event, occurrence or effect does not affect the Company and the Company Subsidiaries, taken as a whole, in a disproportionate manner relative to other participants in the business and industries in
which the Company and the Company Subsidiaries operate; or (b) prevent or materially impede, interfere with, hinder or delay the consummation by the Company of the Transactions. 

“MPSA” shall have the meaning set forth in Section 8.11. 

“Notice Period” shall have the meaning set forth in Section 8.8(d). 

“Ownership Percentage” means, as of any date, the percentage equal to (i) the difference of (x) the aggregate
number of shares of Common Stock issued or issuable to the Investor pursuant to this Agreement or issued pursuant to any preemptive rights pursuant to the Investor Rights Agreement (calculated assuming the full exercise and conversion of the
Preferred Shares, the shares of Series A Preferred issued as PIK Dividends (as defined in the Series A Certificate of Designations) or issuable as accrued and unpaid PIK Dividends not previously added to the Liquidation Preference (as defined in the
Series A Certificate of Designations), in either case on or before such date, and the Warrant issued to the Investor pursuant to this Agreement), minus (y) the aggregate number of any shares of Common Stock (calculated assuming the full
exercise and conversion of such Preferred Shares, the shares of Series A Preferred issued as PIK Dividends (as defined in the Series A Certificate of Designations) or issuable as accrued and unpaid PIK Dividends not previously added to the
Liquidation Preference (as defined in the Series A Certificate of Designations), in either case on or before such date, and the Warrant) transferred by the Investor to any Person (including to the Company in connection with a redemption pursuant to
the terms of the Series A Certificate of Designations or Warrant Agreement, but excluding any transfers to funds managed by TowerBrook Capital Partners L.P., Ascension or their respective Affiliates in accordance with the Investor Rights Agreement)
divided by (ii) the total number of shares of Common Stock then outstanding (calculated assuming the full exercise and conversion of the Preferred Shares, the shares of Series A Preferred issued as PIK Dividends (as defined in the Series
A Certificate of Designations) or issuable as accrued and unpaid PIK Dividends not previously added to the Liquidation Preference (as defined in the Series A Certificate of Designations), in either case on or before such date, and Warrant issued to
the Investor pursuant to the Purchase Agreement). 
 “Person” shall mean an individual, corporation, limited liability
company, partnership, association, trust, unincorporated organization, joint venture, other entity or group (as defined in the Exchange Act), including a Governmental Authority. 

  
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 “Preferred Shares” shall have the meaning set forth in Section 2.

 “Purchase Price” shall have the meaning set forth in Section 2. 

“Registration Rights Agreement” shall have the meaning set forth in the recitals of this Agreement. 

“Representatives” shall mean, with respect to any Person, the advisors, attorneys, accountants, consultants, agents or other
representatives (acting in such capacity) retained by such Person or any of its Affiliates, together with directors, officers and employees of such Person and its Affiliates. 

“Restraints” shall have the meaning set forth in Section 6.1. 

“Restricted Stock” shall mean each share of Common Stock issued pursuant to any Company Stock Plan or otherwise that is
subject to specified vesting criteria. 
 “SEC” shall mean the U.S. Securities and Exchange Commission or any other U.S.
federal agency then administering the Securities Act or Exchange Act. 
 “SEC Reports” shall have the meaning set forth in
Section 4.14. 
 “Securities” shall have the meaning set forth in Section 5.1. 

“Securities Act” shall mean the U.S. Securities Act of 1933, and the rules and regulations of the SEC thereunder. 

“SEM Confidentiality Agreements” shall mean, collectively (i) the letter agreement, dated October 5, 2015, between
the Company and TowerBrook Capital Partners L.P., (ii) the letter agreement, dated October 7, 2015, between Merrill Lynch, Pierce Fenner & Smith Incorporated and the Company, (iii) the letter agreement, dated October 5,
2015, between Deloitte & Touche LLP and the Company and (iv) the letter agreement, dated October 12, 2015 between Manatt, Phelps & Phillips, LLP and the Company, in each case, as may be amended from time to time. 

“Series A Certificate of Designations” shall have the meaning set forth in Section 6.5. 

“Series A Preferred” shall have the meaning set forth in the recitals of this Agreement. 

“Sherman Act” shall mean the Sherman Antitrust Act of 1890. 

“Subcontractor” shall mean any Person that enters into a written arrangement with the Company or any Subsidiary to provide
services that to or on behalf of the Company or any Subsidiary and for which the Company or any Subsidiary is responsible in whole or in part under the Health Care Laws for its performance, or the lack thereof, irrespective of whether that entity is
otherwise subject to the Health Care Laws. 

  
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 “Subsidiary” of any Person shall mean any corporation, partnership, joint
venture, limited liability company, trust or other form of legal entity of which (or in which) more than 50% of (i) the issued and outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such
corporation (irrespective of whether at the time capital stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency), (ii) the interest in the capital or profits of such
partnership, joint venture or limited liability company or (iii) the beneficial interest in such trust or estate is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries
or by one or more of such Person’s other Subsidiaries. 
 “Subsidiary Charter Documents” shall mean the certificate of
incorporation, bylaws and other similar governing documents of each Company Subsidiary, in each case as amended to the date of this Agreement. 

“Superior Proposal” shall have the meaning set forth in Section 8.8(g). 

“Takeover Proposal” shall have the meaning set forth in Section 8.8(f). 

“Taxes” shall mean all federal, state, local or foreign taxes, charges, fees, imposts, levies or other assessments, including
all net income, gross receipts, capital, sales, use, ad valorem, value added, transfer, franchise, profits, inventory, capital stock, license, withholding, payroll, employment, social security, unemployment, excise, severance, stamp, occupation, and
property taxes and all interest, penalties, fines, additions to tax or additional amounts imposed by any Governmental Authority in connection with any of the foregoing. 

“Term Sheet” shall have the meaning set forth in Section 8.11. 

“Termination Fee” shall have the meaning set forth in Section 9.3(b). 

“Transactions” shall mean the transactions contemplated by this Agreement, the Investor Rights Agreement, the Registration
Rights Agreement, the Warrant Agreement and the MPSA. 
 “Warrant Agreement” shall have the meaning set forth in the
recitals of this Agreement. 
 “Warrant” shall have the meaning set forth in Section 2. 

2. Purchase and Sale of the Preferred Shares; Warrant. On the terms and conditions set forth in this Agreement, at the Closing,
the Investor will purchase from the Company, and the Company will issue, sell and deliver to the Investor (i) 200,000 shares of Series A Preferred, at a purchase price of $1,000 per share, for an aggregate purchase price of $200,000,000 in cash
(the “Purchase Price”) to be paid in full to the Company on the Closing Date and (ii) a warrant to acquire up to 60,000,000 shares of Common Stock on the terms and subject to the conditions set forth in the Warrant Agreement.
The shares of Series A Preferred to be issued and sold by the Company to the Investor pursuant to this Agreement are collectively referred to as the “Preferred Shares” and the warrant to be issued by the Company to the Investor
pursuant to the Warrant Agreement are collectively referred to as the “Warrant.” 

  
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 3. Closing. The consummation of the purchase and sale of the Preferred Shares and the
other Transactions (the “Closing”) shall take place at the offices of Kirkland & Ellis LLP, 601 Lexington Ave, New York, NY, 10022 at 10:00 a.m. (local time), as soon as practicable, but no later than the date that is two
(2) Business Days following the satisfaction or waiver (to the extent permitted by applicable Law) of the conditions set forth in Sections 6 and 7, or at such other time and place as the Company and the Investor shall mutually
agree in writing (the “Closing Date”). At the Closing, the Company shall deliver to the Investor certificates representing that number of Preferred Shares set forth in Section 2 in exchange for payment of the Purchase
Price by wire transfer of immediately available funds to an account designated by the Company in advance of the Closing Date. 
 4.
Representations and Warranties of the Company. The Company represents and warrants to the Investor that as of the date of this Agreement and as of the Closing Date, except, other than with respect to the Fundamental Reps,
(a) as otherwise disclosed or incorporated by reference in any Filed SEC Reports filed with the SEC prior to the date of this Agreement and (b) as set forth in the disclosure letter dated as of the date of this Agreement provided to the
Investors separately, specifically identifying the relevant section of this Agreement (provided, that disclosure in any section of such disclosure letter shall apply to any section of this Agreement other than the Fundamental Reps to the
extent it is reasonably apparent on its face that such disclosure is applicable to such section): 
 4.1 Organization, Good Standing and
Qualification. Each of the Company and the Company Subsidiaries is duly organized, validly existing and in good standing under the laws of the state of its formation; has all requisite power and authority to own its properties and conduct its
business as presently conducted; and is duly qualified to do business and in good standing in each state in the United States of America where its business requires such qualification, except where failure to be so duly organized, validly existing
and in good standing, to have such requisite power and authority or to be so duly qualified and in good standing, individually or in the aggregate, has not had, or is not reasonably likely to result in, a Material Adverse Effect. True and accurate
copies of the Company Charter Documents, each as in effect as of the date of this Agreement, have been made available to the Investors. 

4.2 Authorization; Enforceable Agreement. 

(a) The Company has full right, power, authority and capacity to enter into this Agreement, the Registration Rights Agreement,
the Investor Rights Agreement and the Warrant Agreement and to consummate the Transactions. All corporate action on the part of the Company, its officers, directors, and shareholders necessary for the authorization, execution, and delivery of this
Agreement, the Registration Rights Agreement, the Investor Rights Agreement and the Warrant Agreement, the performance of all obligations of the Company under this Agreement, the Registration Rights Agreement, the Investor Rights Agreement and the
Warrant Agreement, and the authorization, issuance (or reservation for issuance), sale, and delivery of (i) the Preferred Shares being sold hereunder, (ii) the Warrant, and (ii) the Common Stock issuable upon conversion of the Series
A Preferred in accordance with the terms of the Series A Certificate of Designations or the exercise of the Warrant in accordance with the terms of the Warrant Agreement has been, or will be, taken, and this Agreement, the Registration

  
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Rights Agreement and the Warrant Agreement, when executed and delivered, assuming due authorization, execution and delivery by the Investors, constitutes and will constitute valid and legally
binding obligations of the Company, enforceable in accordance with their respective terms, subject to the filing of the Series A Certificate of Designations with the Delaware Secretary of State pursuant to Section 6.5. 

(b) On or prior to the date of this Agreement, the Board has duly adopted resolutions (i) evidencing its determination
that as of the date of this Agreement this Agreement and the Transactions are fair to and in the best interests of the Company and its shareholders, (ii) approving this Agreement, the Registration Rights Agreement, the Investor Rights
Agreement, the Warrant Agreement and the Transactions, (iii) declaring this Agreement and the issuance and sale of the Preferred Shares and the Warrant advisable, and (iv) adopting the Series A Certificate of Designations. 

4.3 Litigation. There is neither any action, suit, proceeding or investigation pending nor, to the Knowledge of the Company, overtly
threatened against, nor any outstanding judgment, order or decree against, the Company or any of the Company Subsidiaries before or by any Governmental Authority or arbitral body which, individually or in the aggregate, have had, or if adversely
determined, would reasonably be likely to result in, a Material Adverse Effect. 
 4.4 Governmental Consents. No consent, approval,
order, or authorization of, or registration, qualification, declaration, or filing with, any federal, state, or local governmental authority on the part of the Company is required in connection with the offer, sale, or issuance of the Preferred
Shares or the Warrant (and the Common Stock issuable upon conversion of the Preferred Shares or exercise of the Warrant) or the consummation of any other transaction contemplated by this Agreement, except for the following: (i) the filing of
the Series A Certificate of Designations with the Delaware Secretary of State pursuant to Section 6.5; (ii) the compliance with other applicable state securities laws, which compliance will have occurred within the appropriate time
periods; (iii) the filing with the SEC of such reports under the Exchange Act as may be required in connection with this Agreement and the Transactions; and (iv) filings required under, and compliance with other applicable requirements of,
the HSR Act. Assuming that the representations of the Investors set forth in Section 5 are true and correct, the offer, sale, and issuance of the Preferred Shares and Warrant in conformity with the terms of this Agreement are exempt from
the registration requirements of Section 5 of the Securities Act, and all applicable state securities laws, and neither the Company nor any authorized agent acting on its behalf will take any action hereafter that would cause the loss of such
exemptions. 
 4.5 Valid Issuance of Preferred and Common Stock and the Warrant. The Preferred Shares being purchased by the Investor
hereunder, when issued, sold, and delivered in accordance with the terms of this Agreement for the consideration expressed in this Agreement, will be duly and validly issued, fully paid, and nonassessable, and will be free of any Liens or
restrictions on transfer other than restrictions under this Agreement, the Investor Rights Agreement and the Series A Certificate of Designations and under applicable state and federal securities laws. The Warrant when executed and delivered by the
Company at the Closing in accordance with the terms of this Agreement will be free of any Liens or restrictions on transfer other than restrictions under this Agreement, the Investor Rights Agreement and the Warrant.

  
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The Common Stock issuable upon conversion of the Series A Preferred or exercise of the Warrant purchased under this Agreement has been duly and validly reserved for issuance and, upon issuance in
accordance with the terms of the Series A Certificate of Designations, will be duly and validly issued, fully paid, and nonassessable and will be free of any Liens or restrictions on transfer other than restrictions on transfer under this Agreement
and the Investor Rights Agreement and under applicable state and federal securities Laws. The sale of the Preferred Shares and the Warrant is not, and the subsequent conversion of the Preferred Shares and exercise of the Warrant into Common Stock
will not be, subject to any preemptive rights, rights of first offer or any anti-dilution provisions contained in the Company Charter Documents. 

4.6 Capitalization. The authorized capital stock of the Company consists of 500,000,000 shares of Common Stock of which 108,673,951
were issued and outstanding as of the close of business on December 2, 2015 (including 6,583,073 shares of Restricted Stock), and 5,000,000 shares of preferred stock, par value $0.01, none of which is issued and outstanding (excluding the
Preferred Shares and the Warrant to be issued to the Investor pursuant to this Agreement). As of the date hereof, 5,380,408 shares of Common Stock held by the Company in its treasury. All issued and outstanding shares have been duly authorized and
validly issued, fully paid, nonassessable and free of preemptive rights. The Company will reserve that number of shares of Common Stock sufficient for issuance upon conversion of the Series A Preferred being issued and sold pursuant to this
Agreement and upon exercise of the Warrant pursuant to the Warrant Agreement. As of the close of business on December 2, 2015, (x) options to purchase an aggregate of 15,527,563 shares of Common Stock are outstanding under the Company
Stock Plans and (y) 5,131,713 shares of Restricted Stock are outstanding under the Company Stock Plans. As of the close of business on December 2, 2015, there are 9,173,663 shares of Company Common Stock reserved for issuance under the
Company Stock Plans. Other than as provided in this Agreement, the Registration Rights Agreement, the Investor Rights Agreement and the Warrant Agreement, there are no other outstanding rights, options, warrants, preemptive rights, rights of first
offer, or similar rights for the purchase or acquisition from the Company of any securities of the Company, nor are there any commitments to issue or execute any such rights, options, warrants, preemptive rights or rights of first offer. Except as
otherwise provided in the Series A Certificate of Designations and the Warrant Agreement, there are no outstanding rights or obligations of the Company to repurchase or redeem any of its equity securities. The respective rights, preferences,
privileges, and restrictions of the Preferred Shares and the Common Stock are as stated in the Certificate of Incorporation (including the Series A Certificate of Designations). From the close of business on December 2, 2015 through and
including the date of this Agreement, there have been no issuances of Common Stock, Company preferred stock, or options, warrants or other securities or rights convertible or exchangeable into, or exercisable for, Common Stock or Company preferred
stock (other than issuances of Common Stock pursuant to the exercise of options outstanding as of December 2, 2015 in accordance with the terms thereof). 

4.7 Compliance with Other Instruments. The Company is not in violation or default of any provision of the Company Charter Documents.
The execution, delivery, and performance of and compliance with this Agreement, the Registration Rights Agreement, the Investor Rights Agreement and the Warrant Agreement, and the issuance and sale of the Preferred Shares and the Warrant, will not
(i) result in any default or violation of the Company Charter Documents, (ii) result in any default or violation of any agreement relating to its Indebtedness or under any 

  
 12 

 
mortgage, deed of trust, security agreement or lease to which it is a party or in any default or violation of any material judgment, order or decree of any Governmental Authority or (iii) be
in conflict with or constitute, with or without the passage of time or giving of notice, a default under any such provision, require any consent or waiver under any such provision, or result in the creation of any mortgage, pledge, lien,
encumbrance, or charge upon any of the properties or assets of the Company pursuant to any such provision, or the suspension, revocation, impairment or forfeiture of any permit, license, authorization, or approval applicable to the Company, its
business or operations, or any of its assets or properties pursuant to any such provision, except in the case of clauses (ii) and (iii) as, individually or in the aggregate, has not had, or would not be reasonably likely to result in, a
Material Adverse Effect. 
 4.8 Material Adverse Effect. Neither the Company nor any Company Subsidiary has sustained since the date
of the latest audited financial statements included in the Filed SEC Reports any material loss or interference with the business of the Company and the Company Subsidiaries, taken as a whole, from fire, explosion, flood or other calamity, whether or
not covered by insurance, or from any labor dispute or court or governmental action, order or decree; and, since the most recent date as of which information is given in the Filed SEC Reports, there has not been any change in the capital stock
(other than as a result of the grant or exercise of stock options or restricted stock pursuant to the Company Stock Plans) or long-term debt of the Company or any of the Company Subsidiaries or any Material Adverse Effect, or any development
involving a prospective Material Adverse Effect, in or affecting the general affairs, management, financial position, stockholders’ equity or results of operations of the Company and the Company Subsidiaries taken as a whole. 

4.9 Properties; Assets. The Company and the Company Subsidiaries have good and marketable title in fee simple to all real property and
good and valid title to all personal property owned by them, in each case free and clear of all Liens except such as are described in the Filed SEC Reports or such as do not materially affect the value of such property and do not materially
interfere with the use made and proposed to be made of such property by the Company and the Company Subsidiaries; and any real property and buildings held under lease by the Company and the Company Subsidiaries are held by them under valid,
subsisting and enforceable leases with such exceptions as are not material and do not materially interfere with the use made and proposed to be made of such property and buildings by the Company and the Company Subsidiaries. 

4.10 Material Contracts. Neither the Company nor any of the Company Subsidiaries is in violation or in default in the performance or
observance of any material obligation, agreement, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by which it or any of its properties may be
bound that is required to be disclosed in the Filed SEC Reports (each, a “Company Material Contract”). 
 4.11
Intellectual Property. The Company and the Company Subsidiaries own or have the right to use pursuant to license, sublicense, agreement or permission all patents, trademarks, service marks, patent applications, trade names, copyrights, trade
secrets, domain names, information, proprietary rights and processes (“Intellectual Property”) necessary for their business as described in the Filed SEC Reports and are necessary in connection with the products

  
 13 

 
and services under development, without any conflict with or infringement of the interests of others, except for such conflicts or infringements which, individually or in the aggregate, have not
had, or are not reasonably likely to result in, a Material Adverse Effect, and have taken all reasonable steps necessary to secure interests in such Intellectual Property and have taken all reasonable steps necessary to secure assignment of such
Intellectual Property from its employees and contractors; the Company has no Knowledge of any infringement by any third party of the trademark, trade name, patent, copyright, license, trade secret, know-how, intellectual property or other similar
rights of the Company or any of the Company Subsidiaries which, individually or in the aggregate, have had, or are reasonably likely to result in, a Material Adverse Effect; except as set forth in the Filed SEC Reports, the Company is not aware of
outstanding options, licenses or agreements of any kind relating to the Intellectual Property of the Company which are required to be set forth in the Filed SEC Reports, and, except as set forth in the Filed SEC Reports, neither the Company nor any
of the Company Subsidiaries is a party to or bound by any options, licenses or agreements with respect to the Intellectual Property of any other Person which are required to be set forth in the Filed SEC Reports; none of the technology employed by
the Company has been obtained or is being used by the Company or the Company Subsidiaries in violation of any contractual fiduciary obligation binding on the Company or any of the Company Subsidiaries or any of its directors or executive officers
or, to the Company’s Knowledge, any of its employees or otherwise in violation of the rights of any Persons; neither the Company nor any of the Company Subsidiaries has received any written or, to the Company’s Knowledge, oral
communications alleging that the Company or any of the Company Subsidiaries has violated, infringed or conflicted with, or, by conducting its business as set forth in the Filed SEC Reports, would violate, infringe or conflict with any of the
Intellectual Property of any other Person other than any such violations, infringements or conflicts which, individually or in the aggregate, have not had, or are not reasonably likely to result in, a Material Adverse Effect; and the Company and the
Company Subsidiaries have taken reasonable measures to prevent the unauthorized dissemination or publication of their confidential information and, to the extent contractually required to do so, the confidential information of third parties in their
possession. 
 4.12 Internal Controls. The Company and the Company Subsidiaries maintain a system of internal accounting control over
financial reporting (as such term is defined in Rule 12a-15(f) under the Exchange Act) that complies with the Exchange Act and has been designed by the Company’s principal executive officer and principal financial officer, or under their
supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external reporting purposes in accordance with GAAP. Since the end of the Company’s most recent
audited fiscal year, there has been (a) no material weakness in the Company’s internal control over financial reporting (whether or not remediated) and (b) no change in the Company’s internal control over financial reporting that
has materially adversely affected, or is reasonably likely to materially adversely affect, the Company’s internal control over financial reporting. 

4.13 Financial Statements; Controls. 

(a) The financial statements and schedules of the Company, and the related notes thereto, included in the Filed SEC Reports
present fairly in all material respects the consolidated financial position of the Company as of the respective dates of such 

  
 14 

 
financial statements and schedules, and the consolidated results of operations and cash flows of the Company for the respective periods covered thereby; such statements, schedules and related
notes have been prepared in accordance with GAAP as certified by Ernst & Young LLP. 
 (b) The Company maintains
disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Exchange Act) that comply with the requirements of the Exchange Act; such disclosure controls and procedures have been designed to ensure that material
information relating to the Company and the Company Subsidiaries is made known to the Company’s principal executive officer and principal financial officer by others within those entities; and such disclosure controls and procedures are
effective. 
 (c) There are no contracts, other documents or other agreements required to be described in the Filed SEC
Reports or to be filed as exhibits to the Filed SEC Reports by the Exchange Act or by the rules and regulations thereunder which have not been described or filed (or incorporated by reference from prior filings under the Exchange Act to the extent
permitted) as required. 
 (d) The Company is in compliance with all provisions of the Sarbanes-Oxley Act of 2002 and all
rules and regulations promulgated thereunder or implementing the provisions thereof that are in effect and with which the Company is required to comply. 

(e) The statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (the
“2014 Annual Report”) under the captions: “Risk Factors—Regulatory Risks” and “Business—Government Regulation,” insofar as such statements describe the state, federal and foreign government or
administrative healthcare, debt collection and other laws, rules and regulations which are applicable to the Company and the Company Subsidiaries, are complete and accurate in all material respects; to the Knowledge of the Company there are no
applicable state, federal or administrative healthcare, debt collection or other laws, rules and regulations which as of this date are material to the business of the Company or any of the Company Subsidiaries, which are not described in the 2014
Annual Report. 
 4.14 Exchange Act Reporting. The Company has filed or furnished, as applicable, on a timely basis all forms,
statements, certifications, reports and documents required to be filed or furnished by it with the SEC pursuant to the Exchange Act on or after January 1, 2014 (collectively, and in each case including all exhibits and schedules thereto and
documents incorporated by reference therein, as such statements and reports may have been amended since the date of their filing, the “SEC Reports”). Each of the SEC Reports complied or, if not yet filed or furnished, will comply in
all material respects with the applicable requirements of the Exchange Act and any rules and regulations promulgated thereunder. As of their respective dates (or, if amended prior to the date hereof, as of the date of such amendment), the SEC
Reports did not, and any SEC Reports filed or furnished with the SEC subsequent to the date hereof will not, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements made therein, in light of the circumstances in which they were made, not misleading. As of the date hereof, there are no material outstanding or unresolved comments received from the SEC with respect to any of the SEC Reports. 

  
 15 

 4.15 Compliance with Laws. The Company and the Company Subsidiaries (a) are in
compliance with, and conduct their respective businesses in conformity with, all applicable foreign, federal, state and local laws and regulations, except where the failure to so comply or conform has not had, or is not reasonably likely to result
in, a Material Adverse Effect and (b) possess all licenses, franchises, permits, certificates, approvals, orders and authorizations from Governmental Authorities required by Law necessary for the Company to conduct its business as currently
conducted or currently planned by the Company and the Company Subsidiaries (each, a “Company Permit”), except where the failure to possess such documents, individually or in the aggregate, has not had, or is not reasonably
likely to result in, a Material Adverse Effect; and neither the Company nor any of the Company Subsidiaries has received any verbal or written notice of any proceeding relating to the revocation or modification of, or non-compliance with, any
material certificate, authorization, permit, clearance or approval. 
 4.16 Anti-Corruption Compliance. Neither the Company nor any
of the Company Subsidiaries nor, to the Company’s Knowledge, any affiliates, directors, officers, employees, agents or Representatives of the Company or of any of the Company Subsidiaries, has taken or will take any action in furtherance of an
offer, payment, promise to pay, or authorization or approval of the payment or giving of money, property, gifts or anything else of value, directly or indirectly, to any “government official” (including any officer or employee of a
government or government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political
office) to influence official action or secure an improper advantage; and the Company and the Company Subsidiaries and affiliates have conducted their businesses in compliance with applicable anti-corruption laws and have instituted and maintain and
will continue to maintain policies and procedures designed to promote and achieve compliance with such laws and with the representations and warranties contained herein. 

4.17 Labor Matters. 

(a) No labor dispute with the employees of the Company or any of the Company Subsidiaries exists, or, to the Knowledge of the
Company, is imminent, except for any such dispute that has not had, or is not reasonably likely to result in, a Material Adverse Effect, and the Company is not aware of any existing, threatened or imminent labor disturbance by the employees of any
of their principal customers, suppliers, manufacturers or contractors that has had, or is reasonably likely to result in, a Material Adverse Effect. 

(b) The Company and the Company Subsidiaries are not subject to any liability as a joint employer, single employer, co-employer
or integrated enterprise with any other employer, including any client to which the Company provides services, which liability has had, or is reasonably likely to result in, a Material Adverse Effect. 

4.18 Insurance. The Company and each of the Company Subsidiaries are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts 

  
 16 

 
as are prudent and customary in the businesses in which they are engaged; and neither the Company nor any of the Company Subsidiaries has any reason to believe that it will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not be reasonably likely to result in a Material Adverse Effect.

 4.19 Related Party. There are no outstanding loans, advances (except normal advances for business expenses in the ordinary course
of business) or guarantees or Indebtedness by the Company or any of the Company Subsidiaries to or for the benefit of any of the executive officers or directors of the Company. Other than as set forth in the definitive proxy statement on Schedule
14A for the 2015 annual meeting of the Company’s stockholders, no Person is or has been a party to any transaction or proposed transaction with the Company or any Company Subsidiary that would require disclosure in an SEC filing made by the
Company (if such filing were being made on the date hereof) pursuant to Item 404 of Regulation S-K under the Exchange Act. 
 4.20
Brokers and Other Advisors. Except for Goldman, Sachs & Co. (the “Company Financial Advisor”), no agent, broker, investment banker, finder, financial advisor, firm or other Person is entitled to any broker’s,
finder’s, financial advisor’s or other similar fee or commission or reimbursement of expenses in connection with the Transactions based upon arrangements made by or on behalf of the Company or any Company Subsidiary. The Company has made
available to the Investor prior to the date hereof copies of all agreements pursuant to which the Company Financial Advisor would be entitled to any payment relating to the Transactions. 

4.21 Health Care Matters. 

(a) Since January 1, 2012, the Company and each Company Subsidiary has complied in all respects with all Health Care Laws
that are applicable to the business, properties, assets and activities of the Company or any Company Subsidiary. 
 (b) None
of the Company, any Company Subsidiary, any of their respective officers, employees or agents, any Subcontractor or, to the Knowledge of the Company, any officers, employees or agents of any Subcontractor has been debarred, suspended or excluded
under 21 U.S.C. Section 335a or any similar laws, rules and regulations, ordinances, judgments, decrees, orders, writs and injunctions of any Governmental Authority, or has been convicted of any crime or engaged in any conduct that would
reasonably be expected to result in a debarment, suspension or exclusion under 21 U.S.C. Section 335a, or any similar laws, rules and regulations, ordinances, judgments, decrees, orders, writs and injunctions of any Governmental Authority. As
of the date hereof, no Legal Proceedings that would reasonably be expected to result in such a debarment or exclusion are pending or, to the Knowledge of the Company, threatened against the Company, any of the Company Subsidiaries, any of their
respective officers, employees or agents, any Subcontractor or, to the Knowledge of the Company, any officers, employees or agents of any Subcontractor. 

(c) None of the Company, any Company Subsidiary or, to the Knowledge of the Company, any Subcontractor, officer or director of
the Company or any Company Subsidiary is now, or has been, subject to a corporate integrity or deferred prosecution agreement with any Governmental Authority. 

  
 17 

 (d) The Company has made available to the Investor complete and current copies of
all material compliance policies and procedures and privacy notices of the Company relating to Information Laws. 
 (e) To
the Knowledge of the Company, the Company has not received any notice or other communication from any Governmental Authority challenging the processing by the Company, any Company Subsidiary or any Subcontractor of billing and coding services that
such entity provides. 
 (f) The Company and the Company Subsidiaries have adopted and implemented policies, procedures or
programs reasonably designed to assure that their respective directors, officers, employees, Subcontractors, vendors and similar entities with which they do business are in compliance with all applicable Health Care Laws, except to the extent that
such failure does not currently have, and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

4.22 Vote Required. Assuming that the representations of the Investor set forth in Section 5.8 are true and correct, no
Company stockholder votes or consents are necessary to authorize this Agreement or consummate the Transactions. 
 4.23 Anti-Takeover
Provisions. Assuming that the representations of the Investor set forth in Section 5.8 are true and correct, the approval of this Agreement by the Board constitutes approval of this Agreement for purposes of any
“moratorium,” “control share acquisition,” “fair price,” “interested shareholder,” “affiliate transaction,” “business combination” or other antitakeover Laws, including Section 203 of
the DGCL. 
 4.24 Section 16b-3. The Board has duly adopted resolutions to cause the acquisition of the Preferred Shares and the
Warrant by Investor hereunder to be exempt from the liability provisions of Section 16(b) of the Exchange Act pursuant to Rule 16b-3 promulgated thereunder. 

5. Representations and Warranties of the Investor. The Investor represents and warrants to the Company as of the date of this
Agreement and as of the Closing Date that: 
 5.1 Private Placement. 

(a) The Investor is (i) an “accredited investor” within the meaning of Rule 501 of Regulation D promulgated
under the Securities Act; (ii) aware that the sale of the Preferred Shares, the Common Stock issuable upon conversion of the Series A Preferred being issued and sold pursuant to this Agreement, and the Warrant issued pursuant to the Warrant
Agreement (collectively, the “Securities”) to it are being made in reliance on a private placement exemption from registration under the Securities Act and (iii) acquiring the Securities for its own account. 

(b) The Investor understands and agrees that the Securities are being offered in a transaction not involving any public
offering within the meaning of the Securities 

  
 18 

 
Act, that such Securities have not been and, except as contemplated by the Registration Rights Agreement, will not be registered under the Securities Act and that such Securities may be offered,
resold, pledged or otherwise transferred only (i) in a transaction not involving a public offering, (ii) pursuant to an exemption from registration under the Securities Act provided by Rule 144 thereunder (if available),
(iii) pursuant to an effective registration statement under the Securities Act or (iv) to the Company or one of the Company Subsidiaries, in each of cases (i) through (iv) in accordance with any applicable state and federal
securities laws, and that it will notify any subsequent purchaser of Securities from it of the resale restrictions referred to above, as applicable. 

(c) The Investor understands that, unless sold pursuant to a registration statement that has been declared effective under the
Securities Act or in compliance with Rule 144 thereunder, the Company may require that the Securities bear a legend or other restriction substantially to the following effect (it being agreed that if the Securities are not certificated, other
appropriate restrictions shall be implemented to give effect to the following): 
 “THIS SECURITY WAS ORIGINALLY ISSUED IN A TRANSACTION
EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, (THE “SECURITIES ACT”), AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE
EXEMPTION THEREFROM. THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) IN A TRANSACTION NOT INVOLVING A PUBLIC OFFERING, (II)
PURSUANT TO ANY OTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, INCLUDING RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (III) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR (IV) TO THE
COMPANY OR ANY COMPANY SUBSIDIARY, IN EACH OF CASES (I) THROUGH (IV) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL NOTIFY ANY SUBSEQUENT PURCHASER OF THIS SECURITY FROM IT OF
THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE. THIS SECURITY MAY ONLY BE TRANSFERRED IN ACCORDANCE WITH THE TERMS OF THE INVESTOR RIGHTS AGREEMENT, DATED AS OF [●], 2015, AMONG ACCRETIVE HEALTH, INC. AND THE INVESTOR NAMED
THEREIN.” 
 (d) The Investor: (i) is able to fend for itself in the Transactions; (ii) has such knowledge and
experience in financial and business matters as to be capable of evaluating the merits and risks of its prospective investment in the Securities; and (iii) has the ability to bear the economic risks of its prospective investment and can afford
the complete loss of such investment. 
 (e) The Investor acknowledges that (i) it has conducted its own investigation
of the Company and the terms of the Securities, (ii) it has had access to the Company’s 

  
 19 

 
public filings with the SEC and to such financial and other information as it deems necessary to make its decision to purchase the Securities and (iii) has been offered the opportunity to
conduct such review and analysis of the business, assets, condition, operations and prospects of the Company and the Company Subsidiaries and to ask questions of the Company and received answers thereto, each as it deemed necessary in connection
with the decision to purchase the Securities. The Investor further acknowledges that it has had such opportunity to consult with its own counsel, financial and tax advisors and other professional advisers as it believes is sufficient for purposes of
the purchase of the Securities. The foregoing, however, does not limit or modify the representations and warranties of the Company in Section 4 of this Agreement or the right of the Investor to rely on such representations and
warranties. 
 (f) The Investor understands that the Company will rely upon the truth and accuracy of the foregoing
representations, acknowledgements and agreements. 
 (g) Except for the representations and warranties contained in
Section 4 of this Agreement (including any references in such Section to the SEC Reports), such Investor acknowledges that neither the Company nor any Person on behalf of the Company makes, and the Investor has not relied upon, any other
express or implied representation or warranty with respect to the Company or any Company Subsidiaries or with respect to any other information provided to the Investor in connection with the Transactions. 

5.2 Organization. The Investor is duly organized and is validly existing in the jurisdiction of its organization. 

5.3 Governmental Consents. No consent, approval, order, or authorization of, or registration, qualification, declaration, or filing
with, any federal, state, or local governmental authority on the part of such Investor is required in connection with the purchase of the Preferred Shares (and the Common Stock issuable upon conversion of the Preferred Shares) or the consummation of
any other Transaction, except for the following: (i) the compliance with applicable state securities laws, which compliance will have occurred within the appropriate time periods; (ii) the filing with the SEC of such reports under the
Exchange Act as may be required in connection with this Agreement and the Transactions; and (iii) filings required under, and compliance with other applicable requirements of, the HSR Act. 

5.4 Authorization; Enforceability. The Investor has full right, power, authority and capacity to enter into this Agreement, the
Registration Rights Agreement, the Investor Rights Agreement and the Warrant Agreement and to consummate the Transactions. The execution, delivery and performance of this Agreement, the Registration Rights Agreement, the Investor Rights Agreement
and the Warrant Agreement have been duly authorized by all necessary action on the part of the Investor, and this Agreement has been, and each of the Registration Rights Agreement, the Investor Rights Agreement and the Warrant Agreement will at or
prior to the Closing be, duly executed and delivered by the Investor and, assuming due authorization, execution and delivery of this Agreement, the Registration Rights Agreement, the Investor Rights Agreement and the Warrant Agreement by the
Company, will constitute valid and binding obligation of the Investor, enforceable against it in accordance with its terms. 

  
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 5.5 No Default or Violation. The execution, delivery, and performance of and compliance
with this Agreement, the Registration Rights Agreement, the Investor Rights Agreement and the Warrant Agreement, and the purchase and receipt of the Preferred Shares and the Warrant will not (i) result in any default or violation of the
certificate of incorporation, bylaws, limited partnership agreement, limited liability company operating agreement or other applicable organizational documents of the Investor, (ii) result in any default or violation of any agreement relating
to its material Indebtedness or under any mortgage, deed of trust, security agreement or lease to which it is a party or in any default or violation of any material judgment, order or decree of any Governmental Authority or (iii) be in conflict
with or constitute, with or without the passage of time or giving of notice, a default under any such provision, require any consent or waiver under any such provision, or result in the creation of any Lien upon any of the properties or assets of
the Investor pursuant to any such provision, or the suspension, revocation, impairment or forfeiture of any material permit, license, authorization, or approval applicable to the Investor, its business or operations, or any of its assets or
properties pursuant to any such provision, except in the case of clauses (ii) and (iii) as would not, individually or in the aggregate, reasonably be expected to prevent or materially delay or materially impair the ability of the Investor
to consummate the Transactions. 
 5.6 Financial Capability. The Investor will have at the Closing the funds necessary to purchase
the Preferred Shares at Closing on the terms and conditions contemplated by this Agreement. 
 5.7 Equity Financing. The Investor has
delivered to the Company a true, correct and complete copy, as of the date of this Agreement, of an executed commitment letter dated as of the date of this Agreement (the “Equity Funding Letter”) from the Equity Investors to invest,
subject to the terms and conditions therein, cash in the aggregate amount set forth therein in the Investor (the “Equity Financing”). As of the date of this Agreement, the Equity Funding Letter has not been amended or modified,
no such amendment or modification is contemplated and the commitments contained therein have not been withdrawn or rescinded in any respect. As of the date of this Agreement, the Equity Funding Letter, in the form so delivered, is in full force and
effect and is a legal, valid and binding obligation of the Investor, enforceable in accordance with their terms, and, to the knowledge of the Investor, the other parties thereto, except that such enforceability (a) may be limited by bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and other similar laws of general application affecting or relating to the enforcement of creditors’ rights generally and (b) is subject to general principles of equity, whether
considered in a proceeding at law or in equity. The Company is not obligated to pay any commitment fees or other fees in connection with the Equity Funding Letter that are payable on or prior to the date of this Agreement. The net proceeds
contemplated by the Equity Financing will, together with cash and cash equivalents available to the Investor, be sufficient to pay the Purchase Price upon the terms contemplated by this Agreement. As of the date of this Agreement, the Investor has
no reason to believe that it will be unable to satisfy any term or condition of closing to be satisfied by it contained in the Equity Funding Letter. As of the date of this Agreement, no event has occurred which, with or without notice, lapse of
time or both, would constitute a default or breach on the part of the Investor under any term or condition of the Equity Funding Letter or that would, individually or in the aggregate, permit the Equity Investors to terminate, or to not make the
initial funding of the facilities to be established thereunder upon satisfaction of all conditions thereto. Except as set forth in the Equity Funding Letter, there are no (i) conditions 

  
 21 

 
precedent to the respective obligations of the Equity Investors to fund the full amount of the Equity Financing; or (ii) contractual contingencies under any agreements, side letters or
arrangements relating to the Equity Financing to which either the Investor or any of its Affiliates is a party that would permit the Equity Investors to reduce the total amount of the Equity Financing, or that would materially and adversely affect
the availability of the Equity Financing. The Equity Funding Letter provides, and will continue to provide, that the Company is a third party beneficiary thereof in accordance with the terms and conditions of the Equity Funding Letter as of the date
of this Agreement. The Investor acknowledges and agrees that its obligations hereunder are not subject to any conditions regarding the Investor’s or any other Person’s ability to obtain financing for the consummation of the Transactions.

 5.8 Interested Stockholder. Neither the Investor nor any of its “affiliates” or “associates” is, nor at any
time during the three (3) years prior to (and including) the date of this Agreement has been, an “interested stockholder” of the Company (as such terms in quotations are used in Section 203 of the DGCL). 

6. Conditions to the Investor’s Obligations at Closing. The obligation of the Investor to purchase the Preferred Shares and the Warrant at
the Closing is subject to the fulfillment or waiver (if permissible by applicable Law) on or before the Closing of each of the following conditions: 

6.1 No Law, injunction, judgment or ruling enacted, promulgated, issued, entered, amended or enforced by any Governmental Authority
(collectively, “Restraints”) shall be in effect enjoining, restraining, preventing or prohibiting consummation of the Transactions. 

6.2 The representations and warranties of the Company set forth in this Agreement, disregarding all qualifications and exceptions contained
therein relating to materiality or Material Adverse Effect, shall be true and correct as of the date of this Agreement and as of the Closing Date with the same effect as though made on and as of the Closing Date (except to the extent that such
representation and warranty expressly speaks only as of an earlier date, in which case such representation and warranty shall be true and correct as of such earlier date), except where the failure to be true and correct would not have a Material
Adverse Effect; provided, however, that, notwithstanding the foregoing, each of the Fundamental Reps (other than the representations and warranties set forth in Section 4.21) shall be true and correct in all material
respects as of the date of this Agreement and as of the Closing Date as though made at and as of the Closing Date, and the Investor shall have received a certificate signed on behalf of the Company by an executive officer of the Company to such
effect. 
 6.3 The Company shall have performed in all material respects all obligations, agreements and covenants required to be performed
by it under this Agreement at or prior to the Closing Date, and the Investor shall have received a certificate signed on behalf of the Company by an executive officer of the Company to such effect. 

6.4 Since the date of this Agreement, there shall not have been any occurrence, event, change, effect or development that would have, or would
reasonably be expected to have, a Material Adverse Effect. 

  
 22 

 6.5 Prior to, or simultaneous with, the Closing, the Company shall have adopted and filed with
the Secretary of State of the State of Delaware a Certificate of Designations of the Series A Preferred in the form attached as Exhibit D (the “Series A Certificate of Designations”). 

6.6 The Company shall have executed and delivered the Registration Rights Agreement, the Investor Rights Agreement and the Warrant Agreement,
in the forms attached as exhibits hereto, with such revisions or amendments to the Investor Rights Agreement as may be required pursuant to the rules, requirements or requests of any Exchange. 

6.7 Simultaneous with the Closing, the Company shall have executed and delivered the MPSA incorporating the terms set forth in the Term Sheet.

 6.8 Simultaneous with the Closing, the Company shall have paid to the Investor a funding fee equal to $4,000,000, representing 2% of the
Purchase Price. 
 6.9 Simultaneous with the Closing, the Company shall have reimbursed the Investor for their reasonable documented
out-of-pocket fees and expenses incurred by the Investors, TowerBrook Capital Partners L.P., Ascension and their respective Affiliates on or before the Closing Date in connection with the evaluation, negotiation and execution of this Agreement, the
Investor Rights Agreement, the Registration Rights Agreement and the Warrant Agreement and the purchase by the Investor of the Preferred Shares pursuant to this Agreement and other potential transactions with the Company, provided that the
Company’s reimbursement obligation under this Section 6.9 shall be capped at $10,000,000. 
 6.10 All waiting periods (and
any extensions thereof) applicable to the Transactions under the HSR Act shall have been terminated or shall have expired. 
 6.11
Section 2.1(a) of the Investor Rights Agreement shall have been implemented effective as of the Closing, and in connection therewith the Board shall be comprised, simultaneously with, or immediately following, the Closing, of the individuals
set forth on Schedule 1 to the Investor Rights Agreement to the extent such individuals are available, eligible and willing to serve. 
 7. Conditions
to the Company’s Obligations at Closing. The obligations of the Company to issue, sell and deliver to the Investor the Preferred Shares and the Warrant at the Closing are subject to the fulfillment or waiver (if permissible by
applicable Law) on or before the Closing of each of the following conditions: 
 7.1 The Investor shall have paid to the Company the
Purchase Price. 
 7.2 No Restraint shall be in effect enjoining, restraining, preventing or prohibiting consummation of Transactions. 

7.3 The representations and warranties of the Investor set forth in this Agreement, disregarding all qualifications and exceptions contained
therein relating to materiality, shall be true and correct as of the date of this Agreement and as of the Closing Date with the same effect as though made on and as of the Closing Date (except to the extent that such representation and warranty
expressly speaks as of an earlier date, in which case such representation and warranty 

  
 23 

 
shall be true and correct as of such earlier date), except where the failure to be true and correct would not, individually or in the aggregate, reasonably be expected to prevent or materially
impede, interfere with, hinder or delay the consummation by the Investor of the Transactions. 
 7.4 The Investor shall have performed in
all material respects all obligations, agreements and covenants required to be performed by it under this Agreement at or prior to the Closing Date, and the Company shall have received a certificate signed on behalf of the Investor by an executive
officer of the Investor to such effect. 
 7.5 The Investor shall have executed and delivered the Registration Rights Agreement, the
Investor Rights Agreement (including an executed confidentiality agreement substantially in the form of Exhibit A thereto) and the Warrant Agreement, in the forms attached as exhibits hereto, with such revisions or amendments thereto as may be
required pursuant to the rules of any Exchange. 
 7.6 Simultaneously with Closing, Ascension Health shall have executed and delivered the
MPSA incorporating the terms set forth in the Term Sheet. 
 7.7 All waiting periods (and any extensions thereof) applicable to the
Transactions under the HSR Act shall have been terminated or shall have expired. 
 8. Covenants. The Company and the Investor, as applicable,
hereby covenant and agree, for the benefit of the other party to this Agreement and the other party’s respective assigns, as follows: 

8.1 Use of Proceeds. The Company shall apply the net proceeds from the issuance and sale of the Preferred Shares and the Warrant for
general corporate purposes, including funding working capital, the repayment of indebtedness and the payment of fees and expenses in connection with the Transactions. 

8.2 Reservation of Common Stock; Issuance of Shares of Common Stock. For as long as any of the Preferred Shares or the Warrant remain
outstanding, the Company shall at all times reserve and keep available, free from preemptive rights, out of its authorized but unissued Common Stock or shares of Common Stock held in treasury by the Company, for the purpose of effecting the
conversion of the Preferred Shares or the exercise of the Warrant, the full number of shares of Common Stock then issuable upon the conversion of all Preferred Shares and the Warrant (after giving effect to all anti-dilution adjustments) then
outstanding. All shares of Common Stock delivered upon conversion or repurchase of the Preferred Shares and the exercise of the Warrant shall be newly issued shares or shares held in treasury by the Company, shall have been duly authorized and
validly issued and shall be fully paid and nonassessable, and shall be free from preemptive rights and free of any Lien or adverse claim. 

8.3 Transfer Taxes. The Company shall pay any and all documentary, stamp or similar issue or transfer Tax due on (x) the issue of
the Preferred Shares and the Warrant at Closing and (y) the issue of shares of Common Stock upon conversion of the Preferred Shares or exercise of the Warrant. However, in the case of conversion of Preferred Shares or exercise of the Warrant,
the Company shall not be required to pay any Tax that may be payable in respect of any transfer involved in the issue and delivery of shares of Common Stock in a name other than 

  
 24 

 
that of the holder of the Preferred Shares to be converted or the Warrant to be exercised, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid
to the Company the amount of any such Tax, or has established to the satisfaction of the Company that such Tax has been paid. 
 8.4
Public Disclosure. On the date of this Agreement, or within 24 hours thereafter, the Company shall issue a press release in a form mutually agreed to by the Company and the Investor. No other written release, public announcement or filing
concerning the purchase of the Preferred Shares and the other Transactions shall be issued, filed or furnished, as the case may be, by any party without the prior written consent of the other party (which consent shall not be unreasonably withheld,
conditioned or delayed), except as such release, announcement or filing as may be required by Law or the rules or regulations of any securities exchange, in which case the party required to make the release or announcement shall, to the extent
reasonably practicable, allow the other party reasonable time to comment on such release or announcement in advance of such issuance. The provisions of this Section 8.4 shall not restrict the ability of a party to summarize or describe
the Transactions in any SEC Report so long as the other party is provided a reasonable opportunity to review such disclosure in advance. 

8.5 Tax Related Covenants. Absent a change in Law or Internal Revenue Service practice or a contrary determination (as defined in
Section 1313(a) of the Code) the Investor and the Company agree not to treat the Preferred Shares as “preferred stock” within the meaning of Section 305 of the Code and Treasury Regulation Section 1.305 -5 for United States
federal income Tax reporting and withholding Tax purposes and shall not take any Tax position inconsistent with such treatment. 
 8.6
Further Assurances. Each of the Investor and the Company will cooperate and consult with each other and use commercially reasonable efforts to prepare and file all necessary documentation, to effect all necessary applications, notices,
petitions, filings and other documents, and to obtain all necessary permits, consents, orders, approvals and authorizations of, or any exemption by, all third Persons required to consummate the Transactions. 

8.7 Antitrust Matters. 

(a) Subject to the terms and conditions of this Agreement, each of the Company and the Investor shall use its respective
reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, and cooperate with the other parties in doing, all things necessary, proper and advisable under applicable Law to cause the Transactions to be
consummated as soon as practicable, including to (i) prepare and make as promptly as practicable any required submissions and filings with any Governmental Authority or third party (including under applicable Antitrust Laws or any other
applicable Laws) with respect to the Transactions, (ii) as promptly as practicable, furnish information required in connection with such submissions and filing, (iii) keep the other parties reasonably informed with respect to the status of
any such submissions and filings, including with respect to: (A) the receipt of any non-action, action, clearance, consent, approval, waiver, registration, permit, authorization, license, franchise, permit, exemption, certificate or other
confirmation (collectively, “Authorizations”), (B) the expiration of any waiting period, (C) the commencement or proposed or threatened 

  
 25 

 
commencement of any investigation, litigation or administrative or judicial action or proceeding, or (D) the nature and status of any objections raised or proposed or threatened to be raised
with respect to the Transactions, and (iv) promptly obtain and maintain all Authorizations from, and promptly deliver all required notices to, any Governmental Authority or third party necessary, proper or advisable to consummate the
Transactions as soon as practicable without giving rise to any violation, breach, loss of any benefit under, conflict with the provisions of, or default (or event which, with the giving of notice or passage of time, would constitute a default)
under, termination or modification of, or right of termination or modification of, or the creation of any Lien on any asset of the Company or any Company Subsidiaries, pursuant to any contract to which the Company or any Company Subsidiaries is a
party or by which the Company or any Company Subsidiaries is bound (with the understanding and agreement that obtaining such Authorizations is not a condition under Section 6 or 7 unless expressly provided therein). The Company
and the Investor agree that they will consult with each other with respect to obtaining all necessary Authorizations and in connection therewith (subject to Section 8.4) (x) the Company shall have the right to review and approve in
advance all characterizations of the information relating to the Company and the Company Subsidiaries, (y) the Investor shall have the right to review and approve in advance all characterizations of the information relating to the Investor, the
Equity Investors and their respective Affiliates and (z) each of the Company and the Investor shall have the right to review and approve in advance all characterizations of the information relating to the Transactions, in each case, which
appear in any material filing made in connection with the Transactions. For purposes hereof, “Antitrust Laws” means the Sherman Act, the Clayton Act, the HSR Act, the Federal Trade Commission Act, and all applicable foreign
antitrust Laws and all other applicable Laws issued by a Governmental Authority that are designed or intended to prohibit, restrict or regulate actions having the purpose or effect of monopolization or restraint of trade or lessening of competition
through merger or acquisition. 
 (b) In furtherance and not in limitation of the foregoing: (i) each of the Company and
the Investor agrees to (A) make an appropriate filing of a Notification and Report Form pursuant to the HSR Act with respect to the Transactions as soon as practicable, and in any event within ten (10) Business Days after the date hereof
(unless the parties otherwise agree to a different date), (B) supply as soon as practicable any additional information and documentary material that may be requested pursuant to the HSR Act or any other applicable Antitrust Laws and
(C) use its reasonable best efforts to take, or cause to be taken, all other actions consistent with this Section 8.7(b) necessary to cause the expiration or termination of the applicable waiting periods under the HSR Act (including
any extensions thereof) as soon as practicable and (ii) each of the Company and the Investor agrees to (A) make the appropriate filings under any foreign antitrust Laws as soon as practicable, and in any event within ten (10) Business
Days after the date hereof (unless the parties otherwise agree to a different date), (B) supply as soon as practical any additional information and documentary material that may be required or requested by any Governmental Authority under such
Antitrust Laws and (C) use its reasonable best efforts to take or cause to be taken all other actions consistent with this Section 8.7(b) as necessary to obtain any necessary Authorizations from each such Governmental Authority as
soon as practicable. 

  
 26 

 (c) The Company and the Investor shall: (i) promptly notify the other
parties hereto of, and if in writing, furnish the others with copies of (or, in the case of oral communications, advise the others of the contents of) any communication received from, or given to, any Governmental Authority or third party with
respect to the Transactions, (ii) subject to applicable Law and Section 8.4, permit the others to review and discuss in advance (and to consider in good faith any comments made by the others in relation to) any proposed written
communication by it to any Governmental Authority or third party with respect to the Transactions, (iii) keep the others informed of any developments, meetings or discussions with any Governmental Authority in respect of any filings,
investigation or inquiry concerning the Transactions, and (iv) not independently participate in any meeting or discussions with a Governmental Authority in respect of any filings, investigation or inquiry concerning the Transactions without
giving the other party prior notice of such meeting or discussions and, unless prohibited by such Governmental Authority, the opportunity to attend or participate and (v) furnish the other parties with copies of all correspondence, filings and
written communications between them and their Affiliates and their respective Representatives, on the one hand, and any such Governmental Authority or its staff, on the other hand, with respect to the Transactions. However, each of the Investor and
the Company may designate any non-public information provided to any Governmental Authority as restricted to “Outside Antitrust Counsel” only and any such information shall not be shared with employees, officers or directors or their
equivalents of the other party without approval of the party providing the non-public information. 
 (d) Notwithstanding the
foregoing or any other provision of this Agreement, (i) nothing in this Section 8.7 shall limit any applicable rights a party may have to terminate this Agreement pursuant to Section 9.1 so long as such party has up to
then complied in all material respects with its obligations under this Section 8.7. 
 8.8 No Solicitation. 

(a) The Company and the Company Subsidiaries and their respective officers, directors and employees shall, and the Company and
the Company Subsidiaries shall use their reasonable best efforts to cause their other Representatives, to immediately cease all existing discussions or negotiations with any Person conducted heretofore with respect to any Takeover Proposal or any
proposal reasonably expected to lead to any Takeover Proposal and shall promptly request the return from, or destruction by, all such Persons of all copies of non-public information previously furnished or made available to such Persons by or on
behalf of the Company in accordance with the terms of any confidentiality or similar agreement in place with such Person. The Company and the Company Subsidiaries and their respective officers, directors and employees shall, except as otherwise
provided in this Agreement, from the date of this Agreement until the earlier of the Closing and the date, if any, on which this Agreement is terminated pursuant to Section 9.1, not, and shall use their reasonable best efforts to cause
their other Representatives not to, directly or indirectly (i) solicit, initiate, knowingly encourage or knowingly facilitate any (including by way of furnishing or providing access to the non-public information), or take any action which is
reasonably expected to lead to, a Takeover Proposal; (ii) enter into or participate in any discussions (except to notify such 

  
 27 

 
Person of the existence of the provisions of this Section 8.8 without more) or negotiations with any Person regarding any Takeover Proposal; (iii) approve any transaction under,
or any Person (other than the Investor) becoming an “interested stockholder” under, Section 203 of the DGCL (except for any transaction involving the Investor or any of its Affiliates); or (iv) enter into any merger agreement,
agreement in principle, letter of intent, or other similar agreement providing for any Takeover Proposal (other than a confidentiality agreement contemplated by Section 8.8(b)). Without limiting the foregoing, it is agreed that any
violation of the restrictions on the Company set forth in this Section 8.8 by any officer or director of the Company (or any other Representative of the Company that is authorized, intentionally sanctioned or intentionally caused by the
Company) shall be deemed a breach of this Section 8.8 by the Company. 
 (b) Notwithstanding anything to the
contrary contained in this Agreement, if at any time prior to the Closing, the Company or any Company Subsidiary, or any of its respective Representatives receives a bona fide written Takeover Proposal made after the date hereof which did not
result from a breach of this Section 8.8, the Company, the Board (or a duly authorized committee thereof) and their Representatives may engage in negotiations and discussions with, or furnish any information and other access to, any
Person making such Takeover Proposal and any of its Representatives or potential sources of financing if the Board (or a duly authorized committee thereof) determines in good faith, after consultation with the Company’s outside legal and
financial advisors, that such Takeover Proposal is or could reasonably be expected to lead to a Superior Proposal; provided that prior to furnishing any material non-public information to any such Person, the Company receives from the Person
making such Takeover Proposal an Acceptable Confidentiality Agreement. The Company will promptly notify the Investor in writing of the receipt of such Takeover Proposal and communicate the material terms of such Takeover Proposal to the Investor.
The Company will keep the Investor reasonably apprised of the status of such Takeover Proposal upon request (but in any event upon a change in the price or any material terms thereof); provided, that the Company provides the Investor any
information with respect to the Company that could reasonably be expected to be material to the Investor, furnished to such other Person which was not previously furnished or made available to the Investor prior to, or concurrently with, the time it
is provided to such other Person. In addition to the other obligations of the Company set forth in this Section 8.8, the Company will reasonably promptly provide notice to the Investor in writing (and in any case within forty-eight
(48) hours of knowledge of receipt) of the receipt of such Takeover Proposal. The Company shall keep the Investor reasonably informed on a reasonably current basis of all material developments affecting the status of and terms of such Takeover
Proposal or request or any material changes to the material terms thereof and of the status of any such discussions or negotiations. 

(c) Except as expressly permitted by this Agreement, neither the Board, nor any committee thereof shall (i) adopt,
approve, recommend or declare advisable, or publicly propose to adopt, approve, recommend or declare advisable, any Takeover Proposal or (ii) approve or recommend, or propose publicly to approve or recommend, or cause to authorize the Company
or any Company Subsidiaries to enter into, any merger agreement, agreement in principle, letter of intent, or other similar agreement providing for any Takeover Proposal (other than an Acceptable Confidentiality Agreement entered into pursuant to
Section 8.8(b)). 

  
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 (d) Notwithstanding anything to the contrary in this Agreement, the Board may
terminate this Agreement pursuant to Section 9.1(d), if (i) the Board (or a duly authorized committee thereof) has received a Superior Proposal and determines in good faith, after consultation with its outside legal counsel, that
the failure to take such action would reasonably be expected to be inconsistent with its fiduciary duties under applicable Law and (ii) (A) the Company provides the Investor prior written notice of its intent to terminate this Agreement
pursuant to Section 9.1(d) at least three (3) Business Days (the “Notice Period”) prior to taking such action, to the effect that the Board (or a duly authorized committee thereof) has received a Superior Proposal
and the Board (or a duly authorized committee thereof) has resolved to terminate this Agreement pursuant to Section 9.1(d), which notice shall specify the basis for such termination and attaches thereto the most current version or a
reasonably detailed summary of the material terms of such Superior Proposal (which version or summary shall be updated on a prompt basis) (it being understood that any material revision or amendment to the terms of such Superior Proposal, including
any material revision in price, shall require a new notice and, in such case, all references to three (3) Business Days in this Section 8.8(d) shall be deemed to be one (1) Business Day); (B) during the Notice Period, if
requested by the Investor, the Company shall and shall cause the Company Subsidiaries and its and their respective Representatives to negotiate with the Investor’s Representatives in good faith any proposed modifications to the terms and
conditions of this Agreement, if the Investor, in its sole discretion, proposes to make such adjustments; (C) the Investor has not, within the Notice Period, made a written, binding and irrevocable offer capable of being accepted by the Company
to alter the terms or conditions of this Agreement such that such Takeover Proposal would cease to constitute a Superior Proposal and (D) the Board (or a duly authorized committee thereof), after consulting with outside legal counsel and
independent financial advisors and taking into account any modifications to the terms of this Agreement agreed to by the Investor after receipt of such notice, continues to believe in good faith that such Takeover Proposal constitutes a Superior
Proposal. 
 (e) Nothing contained in this Agreement shall prohibit the Company or the Board (or a duly authorized committee
thereof) from (i) subject to Section 8.8(c) (other than any “stop, look and listen” communication), making any disclosure to the stockholders of the Company if the Board (or a duly authorized committee thereof) determines
in good faith, after consultation with its outside legal counsel, that the failure to make such disclosure would be reasonably likely to be inconsistent with applicable Law, (ii) informing any Person of the existence of the provisions contained
in this Section 8.8, (iii) waiving any standstill provision of any confidentiality, standstill or similar agreement that would prohibit a Person or group of Persons from communicating a Takeover Proposal to the Company, the Board or
any duly authorized committee thereof, or (iv) following the receipt of a Takeover Proposal, contacting the Person or group of Persons who has made such Takeover Proposal to clarify and understand the terms and conditions thereof in accordance
with Section 8.8(b). 

  
 29 

 (f) As used in this Agreement, “Takeover Proposal” shall mean
any bona fide inquiry, proposal or offer from any Person or group (as defined in Section 13(d) of the Exchange Act), other than the Investor and any of its Affiliates) to (i) purchase or otherwise acquire, in a single transaction or
series of related transactions, of (A) assets of the Company or any Company Subsidiaries (including securities of Company Subsidiaries) that account for 20% or more of the Company’s consolidated assets or from which 20% or more of the
Company’s revenues or earnings on a consolidated basis are derived or (B) 20% or more of the outstanding Common Stock or 20% of the equity securities of any Company Subsidiary pursuant to a merger, consolidation or other business
combination, sale of shares of capital stock, tender offer, exchange offer or similar transaction or (ii) a tender offer or exchange offer that if consummated would result in any Person or “group” (as defined in Section 13(d) of
the Exchange Act) beneficially owning more than 20% of the outstanding Common Stock or 20% of the equity securities of any Company Subsidiary or of any resulting parent company of the Company, other than the Transactions. 

(g) As used in this Agreement, “Superior Proposal” shall mean any bona fide, written Takeover Proposal
on terms which the Board (or a duly authorized committee thereof) determines in good faith, after consultation with the Company’s outside legal counsel and independent financial advisor be more favorable to the holders of Common Stock than the
Transactions, taking into account to the extent applicable, the legal, financial, regulatory and other factors (including all the terms and conditions of such Takeover Proposal and this Agreement (including any changes to the terms of this Agreement
proposed by the Investor in accordance with Section 8.8(e)) that the Board considers relevant; provided that for purposes of the definition of Superior Proposal, the references to “20%” in the definition of Takeover
Proposal shall be deemed to be references to “50%.” 
 8.9 Conduct of Business. Except as expressly permitted or required
by this Agreement, as required by applicable Law, during the period from the date of this Agreement until the earlier of (x) termination of this Agreement in accordance with Section 9.1 and (y) the Closing, unless the Investor
otherwise consents in writing (which consent shall not be unreasonably withheld, delayed or conditioned), the Company shall, and shall cause the Company Subsidiaries to, conduct their businesses only in the ordinary course of business in all
material respects consistent with past practice. Without limiting the foregoing, except as set forth in the Company disclosure letter dated as of the date of this Agreement provided to the Investor, as expressly permitted or required by this
Agreement, as required by applicable Law or as consented to in writing by the Investor (such consent not to be unreasonably withheld, conditioned or delayed), the Company shall not, and shall not permit any of the Company Subsidiaries to, between
the date of this Agreement and the earlier to occur of the termination of this Agreement in accordance with Section 9.1 and the Closing, take any of the following actions: 

(a) take any action that, if taken immediately following the Closing, would require the approval of the holders of a majority
of the Series A Preferred Stock (on an as-converted basis, including any shares of Common Stock issued upon the conversion thereof) that is held by the Investor or any Investor Affiliate (as defined in the Investor Rights Agreement) pursuant to
Section 2.4 of the Investor Rights Agreement; 

  
 30 

 (b) (i) create, issue, sell or grant or authorize the issuance, sale or grant of
any equity securities of the Company or any of the Company Subsidiaries, except for the issuance of shares of Common Stock required to be issued upon exercise of Options that are outstanding on the date hereof in accordance with their terms on the
date hereof or (ii) amend any term of any equity securities of the Company or any of the Company Subsidiaries (in each case, whether by merger, consolidation or otherwise); 

(c) make, or permit any Company Subsidiary to make, any loans, advances or capital contributions to or investments in any other
Person (other than a wholly-owned Company Subsidiary domiciled in the United States); 
 (d) increase in any material respect
the compensation of any of its directors or senior executive officers (provided that payments of bonuses and other grants and awards made in the ordinary course shall not constitute an increase in compensation), except (i) as required
pursuant to applicable Law or the terms of Company Plans or Foreign Benefit Plans, or (ii) for bonuses and salary increases in the ordinary course of business consistent with past practice; 

(e) make or grant any bonus or any compensation or salary increase or severance pay, termination pay or similar payment to any
current employee or group of current employees, except (i) as required pursuant to applicable Law or the terms of Company Plans or Foreign Benefit Plans or other benefit or compensation plans or arrangements in effect on the date of this
Agreement, (ii) for bonuses and salary increases in the ordinary course of business consistent with past practice or (iii) the payment of 2015 annual bonuses based on actual performance on or prior to December 31, 2015 consistent with
the terms of the applicable Company Plan to mitigate any issues resulting from the application of Sections 280G and 4999 of the Code and to maximize the net after-Tax proceeds received by any individual subject to Section 4999 of the Code; 

(f) enter into any Contracts of employment or any consulting or similar agreement, except for agreements for newly hired
employees or consultants in the ordinary course of business consistent with past practice and with an annual base salary not to exceed $250,000 for any such employee or consultant; 

(g) (i) adopt, enter into, terminate or amend any Company Stock Plan except as required by Law or (ii) grant or issue or
accelerate the vesting of any awards under any Company Stock Plan; 
 (h) terminate the employment of any individual who is
party to an employment, retention, severance or change in control agreement or arrangement, or take any action or omit to take any action that would result in any such individual having the right to resign for good reason (or a similar term of like
meaning); 
 (i) settle or agree to settle, (i) any Legal Proceeding (except in the ordinary course of business
consistent with past practice), (ii) any stockholder litigation or dispute 

  
 31 

 
against the Company or any of its officers or directors or (iii) any Legal Proceeding that relates to the Transactions, in each case other than settlements involving only the payment of
money damages of less than $200,000 or that are otherwise fully covered by insurance; 
 (j) amend or propose to amend the
Company Charter Documents or the Subsidiary Charter Documents; 
 (k) adopt a plan or agreement of complete or partial
liquidation or dissolution or resolutions providing for a complete or partial liquidation, dissolution, restructuring, recapitalization or other reorganization of the Company or any Company Subsidiary; 

(l) (i) enter into, terminate or materially amend or modify (other than extensions at the end of a term in the ordinary course)
any Company Material Contract or Contract that, if in effect on the date hereof, would have been a Company Material Contract, or (ii) waive any material term of or any material default under, or release, settle or compromise any material claim
against the Company or material liability or obligation owing to the Company, or any benefit of the Company, under any Company Material Contract; 

(m) amend or modify the letter of engagement of the Company Financial Advisor in a manner that materially increases the fee or
commission payable by the Company; 
 (n) take any action that would reasonably be expected to prevent or materially impede,
interfere with, hinder or delay the consummation of the Transactions; or 
 (o) agree, resolve or commit to take any of the
foregoing actions. 
 8.10 Relisting. The Company shall use its reasonable best efforts to take, or cause to be taken, all actions
necessary to have the Common Stock (including all shares of Common Stock issuable upon conversion of the Preferred Shares or exercise of the Warrant) listed on any of the Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital
Market, The New York Stock Exchange or any other United States national securities exchange (each, an “Exchange”), and the Investor shall reasonably cooperate with the Company in connection with the foregoing, including providing to
the Company or the Exchange such information reasonably requested by the Company that is necessary in connection therewith. 
 8.11
Master Professional Services Agreement. Each of the Company, the Investor and Ascension Health shall use reasonable best efforts to negotiate and (simultaneous with the Closing) execute an amended and restated Master Professional Services
Agreement by and between Ascension Health and the Company (the “MPSA”) that incorporates the terms set forth in the term sheet, dated as of the date hereof, by and between Ascension Health and the Company (the “Term
Sheet”) and such other terms as may be mutually agreed to by the Company, the Investor and Ascension Health; provided that in the event of any failure between or among the Company, the Investor and Ascension Health to mutually agree
with respect to any term not included in the Term Sheet, the MPSA shall follow the applicable provision contained in the Master Professional Services Agreement by and between Ascension Health and the Company in effect as of the date of this
Agreement. 

  
 32 

 8.12 Transaction Litigation. The Company shall give the Investor the opportunity to
participate in (but not to control) the defense or settlement of any stockholder litigation against the Company or any of its directors or officers relating to this Agreement or the Transactions (and, in any event, no such settlement of any
stockholder litigation shall be agreed to without the Investor’s prior written consent, such consent not to be unreasonably withheld, conditioned or delayed). Each of the Investor and the Company shall notify the other promptly (and in any
event within 48 hours) of the commencement of any such stockholder litigation of which it has received notice, and shall keep the other reasonably informed regarding any such stockholder litigation. 

8.13 Access to Information. Prior to the Closing, upon reasonable notice and during normal business hours, the Company shall, and shall
cause the officers and employees of the Company, to (a) afford the officers, employees and authorized agents and representatives of the Investor reasonable access to the employees, offices, properties, books and records of the Company and
(b) furnish to the officers, employees and authorized agents and representatives of the Investor such additional financial and operating data and other information regarding the assets, properties and business of the Company as the Investor may
from time to time reasonably request in order to assist the Investor in fulfilling its obligations under this Agreement and to facilitate the consummation of the Transactions; provided, however, (i) any such access shall be
conducted in such a manner as not to interfere unreasonably with the operations or business activities of the Company; and (ii) the Company shall not be required to so confer, afford such access or furnish such copies or other information to
the extent that doing so would contravene any Law, result in the breach of any confidentiality or similar agreement to which the Company is a party, the loss of protectable interests in trade secrets, or the loss of attorney-client privilege
(provided that the Company shall use its reasonable efforts to allow for such access or disclosure in a manner that does not result in a breach of such agreement or a loss of attorney-client privilege, including using commercially reasonable efforts
to obtain the required consent of any applicable third party or through the use of a “clean team”). The representations, warranties, agreements, covenants and obligations of the Company, and the rights and remedies that may be exercised by
the Investor, shall not be limited or otherwise affected by or as a result of any information furnished to, or any investigation made by or knowledge of, the Investor or any of its Representatives. 

9. Termination. 
 9.1
Termination of Agreement Prior to Closing. This Agreement may be terminated at any time prior to the Closing: 
 (a)
by either the Investor or the Company if the Closing shall not have occurred by the 90th calendar day following the date of this Agreement; provided, however, that the right to terminate this Agreement under this
Section 9.1 shall not be available to any party whose failure to fulfill any obligation under this Agreement shall have been the cause of, or shall have resulted in, the failure of the Closing to occur on or prior to such date; 

  
 33 

 (b) by either the Investor or the Company in the event that any Governmental
Authority shall have issued an order, decree or ruling or taken any other action restraining, enjoining or otherwise prohibiting the Transactions and such order, decree, ruling or other action shall have become final and nonappealable; 

(c) by the mutual written consent of the Investor and the Company; or 

(d) by the Company, in accordance with Section 8.8 to take a Superior Proposal; provided that the Company
promptly tenders payment of, or causes to be tendered, the Termination Fee as provided in Section 9.3 (provided that the Investor shall have provided wiring instructions for such payment or, if not, then such payment shall be paid
promptly, and in any event within two (2) Business Days, following delivery of such instructions); it being understood that the Company may enter into any transaction that is a Superior Proposal simultaneously with the termination of this
Agreement pursuant to this Section 9.1(d). 
 9.2 Effect of Termination Prior to Closing. In the event of termination of
this Agreement as provided in Section 9.1, this Agreement shall forthwith become void and there shall be no liability on the part of any party hereto, except as expressly set forth in Section 9.3; provided that nothing
herein shall relieve any party hereto from liability for any breach of any covenant of this Agreement; and provided, further, that notwithstanding the foregoing, the terms of Section 9.3, Section 10.1,
Sections 10.2(b), (c) and (d), Section 10.7, Section 10.9, Section 10.11 and this Section 9.2 shall remain in full force and effect and shall survive any termination of this Agreement. 

9.3 Termination Fee. 

(a) In the event that this Agreement is terminated by the Company pursuant to Section 9.1(d) the Company shall
promptly tender or cause to be tendered as directed by the Investor the Termination Fee substantially concurrently with the termination of this Agreement. 

(b) For purposes of this Agreement, “Termination Fee” shall mean an amount equal to $8,000,000. 

(c) Any amount that becomes payable pursuant to Section 9.3(a) shall be paid by wire transfer of immediately
available funds to an account designated by the Investor and shall be reduced by any amounts required to be deducted or withheld therefrom under applicable Law including in respect of Taxes. 

10. Miscellaneous. 
 10.1
Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice or conflict of laws provision or rule (whether of the State of Delaware or any other
jurisdiction) that would cause the application of the Laws of any jurisdiction other than the State of Delaware. 

  
 34 

 10.2 Specific Enforcement; Jurisdiction. 

(a) The parties agree that irreparable damage would occur and the parties would not have any adequate remedy at law in the
event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached, except as provided in the following sentences. It is accordingly agreed that (i) the parties shall be
entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement from the Chancery Court of the State of Delaware and any state appellate court therefrom
within the State of Delaware (or, if the Chancery Court of the State of Delaware declines to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware), without proof of damages, without bond or other
security being required, this being in addition to any other remedy to which they are entitled under this Agreement, at law or in equity, (ii) the provisions set forth in this Section 10.2 (A) are not intended to and do not
adequately compensate for the harm that would result from a breach of this Agreement and (B) shall not be construed to diminish or otherwise impair in any respect any party’s right to specific enforcement, and (iii) the right of
specific enforcement is an integral part of the Transactions and without that right neither the Company nor Investor would have entered into this Agreement. Notwithstanding the foregoing, it is explicitly agreed that the Company shall only be
entitled to seek or obtain an injunction, specific performance or other equitable remedies enforcing the Equity Funding Letter to cause the Equity Financing to be funded at the Closing, enforcing Section 8.11 to cause the MPSA to be
executed and delivered by Ascension or otherwise causing the Closing to occur, if all conditions (other than the condition set forth in Section 7.6) are satisfied or waived and the Company has irrevocably confirmed in writing that if the
Equity Financing is funded and the MPSA is executed and delivered by Ascension then it will take such actions that are required by it under this Agreement to cause the Closing to occur. The parties hereto further agree that (1) by seeking the
remedies provided for in this Section 10.2(a), a party shall not in any respect waive its right to seek any other form of relief that may be available to a party under this Agreement (including monetary damages) in the event that the
remedies provided for in this Section 10.2(a) are not available or otherwise are not granted, and (2) nothing set forth in this Section 10.2(a) shall require any party hereto to institute any proceeding for (or limit any
party’s right to institute any proceeding for) specific performance under this Section 10.2(a) prior or as a condition to exercising any termination right under Section 9 (and pursuing damages after such termination),
nor shall the commencement of any legal proceeding pursuant to this Section 10.2(a) or anything set forth in this Section 10.2(a) restrict or limit any party’s right to terminate this Agreement in accordance with the
terms of Section 9 or pursue any other remedies under this Agreement that may be available then or thereafter. 

(b) Notwithstanding anything herein to the contrary, the maximum aggregate liability of any party hereto for monetary damages
or otherwise in connection with this Agreement, the Equity Commitment Letter and the Transactions shall be limited to $50,000,000. Except with respect to the Limited Guaranty to the extent expressly provided therein, in no event shall any party
hereto seek or permit to be sought on behalf of such party any damages or any other recovery, judgment or damages of any kind, including consequential, indirect, or punitive damages, from any Affiliate of such party, or any Representative, member,
controlling Person or holder of any equity interests or 

  
 35 

 
securities of such party, or any of their respective Affiliates, in connection with this Agreement or the Transactions. Each party hereto acknowledges and agrees that it has no right of recovery
against, and no personal liability shall attach to, in each case with respect to damages, any Person (other than such party to the extent provided in this Agreement), whether by or through attempted piercing of the corporate, limited partnership or
limited liability company veil, by or through a claim by or on behalf of such party against any other party thereto or any Affiliate thereof, by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute,
regulation or applicable Law, or otherwise. 
 (c) The equitable remedies available to the parties hereto described in this
Section 10.2 shall be in addition to, and not in lieu of, any other remedies at law or in equity that they may elect to pursue; provided, that while any party hereto may concurrently pursue both (i) a grant of specific
performance in accordance with this Section 10.2 and (ii) money damages pursuant to this Agreement, under no circumstances shall such party be permitted or entitled to be awarded both a grant of specific performance and any money damages
pursuant to this Agreement. 
 (d) Each party hereto irrevocably agrees that any legal action or proceeding arising out of or
relating to this Agreement brought by any other party hereto or its successors or assigns shall be brought and determined in the Chancery Court of the State of Delaware and any state appellate court therefrom within the State of Delaware (or, if the
Chancery Court declines to accept jurisdiction over a particular matter, in any state or federal court within the State of Delaware), and each party hereby irrevocably submits to the exclusive jurisdiction of the aforesaid courts for itself and with
respect to its property, generally and unconditionally, with regard to any such action or proceeding arising out of or relating to this Agreement and the Transactions. Each party agrees not to commence any action, suit or proceeding relating thereto
except in the courts described above in the State of Delaware, other than actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in the State of Delaware as described herein. Each party
irrevocably consents to the service of process outside the territorial jurisdiction of the courts referred to in this Section 10.2 in any such action or proceeding by mailing copies thereof by registered or certified United States mail,
postage prepaid, return receipt requested, to its address as specified in or pursuant to Section 10.9. However, the foregoing shall not limit the right of a party to effect service of process on the other party by any other legally
available method. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING BETWEEN THE PARTIES HERETO ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS. 

10.3 Survival. The representations and warranties in this Agreement shall expire at the Closing and have no further force and effect,
other than (a) in the event of fraud, they shall survive indefinitely, and (b) the representations and warranties set forth in Sections 4.2, 4.5, 4.6 and 4.21 (such representations and warranties contained
therein, the “Fundamental Reps”), which shall survive until the third anniversary of the Closing Date. Notwithstanding the foregoing, any claims asserted in writing by notice of a claim made in accordance with the provisions
hereunder and seeking to be indemnified within the time periods set forth in this Section 10.3 shall survive until such claim is finally and fully resolved. 

  
 36 

 10.4 Indemnification. 

(a) From and after the Closing, the Company shall defend, protect, indemnify and hold harmless the Investor, its Affiliates and
its and their respective stockholders, partners, members, officers, directors, employees and agents (collectively, the “Indemnitees”) from and against any and all actions, causes of action, suits, claims, losses, costs, penalties,
fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’ fees and disbursements
(the “Indemnified Liabilities”), (i) incurred by any Indemnitee as a result of, or arising out of, or relating to any breach of any Fundamental Rep (other than Section 4.21) (ii) incurred by any Indemnitee
relating to any third party claim brought against Indemnitee as a result of, or arising out of, or relating to any breach of Section 4.21 or (iii) incurred by the Company or any Company Subsidiary as a result of any fact,
circumstance or matter giving rise to a breach of Section 4.21 or the investigation, defense, adjudication or settlement of any claim or investigation relating to any fact, circumstance or matter that relates to alleged non-compliance
with any Health Care Law to the extent such non-compliance would be a breach of Section 4.21 (an “Indemnifiable Health Care Matter”). To the extent that the foregoing undertaking by the Company may be unenforceable for
any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. In the event of a claim for indemnification pursuant to clause
(iii) of the first sentence of this subsection (a), the Indemnified Liabilities for which the Investor shall be entitled to indemnification pursuant to Section 10.4(a) shall be, (A) if the Ownership Percentage is equal to or
greater than 50%, an amount equal to the aggregate monetary and other out-of-pocket costs incurred by the Company and the Company Subsidiaries in connection with the Indemnifiable Health Care Matter or (B) if the Ownership Percentage is less
than 50%, an amount equal to the Indemnity Percentage multiplied by the aggregate monetary and other out-of-pocket costs incurred by the Company and the Company Subsidiaries in connection with the Indemnifiable Health Care Matter. The
Company shall not be required to make payments to, or on behalf of, the Indemnitees in respect of Indemnified Liabilities under clauses (ii) and (iii) of the first sentence of this Section 10.4(a) unless and until the aggregate
payments to be made to, or on behalf of, the Indemnitees in respect of such Indemnified Liabilities (calculated, in the case of Indemnified Liabilities under clause (iii) of the first sentence of this Section 10.4(a), in accordance
with the immediately preceding sentence) exceed $5,000,000 (the “Deductible”) and then only with respect to such excess; provided that the Company shall not be required to make payments to, or on behalf of, the Indemnitees in
respect of such Indemnified Liabilities in the aggregate in excess of $22,500,000 above the Deductible. 
 (b) If any action
shall be brought against any Indemnitee in respect of which indemnity may be sought pursuant to this Agreement, such Indemnitee shall notify the Company in writing, and the Company shall have the right to assume the defense thereof with counsel of
its own choosing. Any Indemnitee shall have the right to employ separate 

  
 37 

 
counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnitee except to the extent that: (i) the
employment thereof has been specifically authorized by the Company in writing; (ii) the Company has failed after a reasonable period of time to assume such defense and to employ counsel; or (iii) in such action there is, in the reasonable
opinion of such separate counsel, a material conflict on any material issue between the position of the Company and the position of such Indemnitee. The Company will not be liable to any Indemnitee under this Agreement for any settlement by an
Indemnitee effected without the Company’s prior written consent, which shall not be unreasonably withheld or delayed. 

(c) Following the Closing, the indemnification provided by Section 10.4(a) shall be the sole and exclusive remedy
for any loss, liability, demand, claim, action, cause of action, cost, damage, deficiency, tax, penalty, fine or expense, whether or not arising out of third party claims (including, without limitation, interest, penalties, reasonable
attorneys’ fees and expenses, court costs and all reasonable amounts paid in investigation, defense or settlement of any of the foregoing) of the Indemnitees with respect to any misrepresentation or inaccuracy in, or breach of, any Fundamental
Rep. 
 10.5 Successors and Assigns. Except as otherwise provided in this Agreement, the provisions of this Agreement shall inure to
the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties; provided, however, that neither this Agreement nor any of the rights, interests or obligations hereunder shall be
assigned, in whole or in part, by operation of Law or otherwise, by either of the parties without the prior written consent of the other party, except that the Investor may transfer or assign its rights and obligations under this Agreement, in whole
or from time to time in part, to (a) one or more of its Affiliates at any time and (b) after the Closing, to Ascension Health, TowerBrook Capital Partners L.P. or any of their Affiliates in connection with a transfer of the Series A
Preferred or the Warrant.
 10.6 No Third-Party Beneficiaries. Notwithstanding anything contained in this Agreement to the contrary,
nothing in this Agreement, expressed or implied, is intended to confer on any Person other than the parties any rights, remedies, obligations or liabilities under or by reason of this Agreement, and no Person that is not a party to this Agreement
(including any partner, member, shareholder, director, officer, employee or other beneficial owner of any party, in its own capacity as such or in bringing a derivative action on behalf of a party) shall have any standing as third-party beneficiary
with respect to this Agreement or the transactions contemplated by this Agreement. 
 10.7 No Personal Liability of Directors, Officers,
Owners, Etc. Except for the Company’s ability to enforce this Agreement, the Equity Funding Letter and the Limited Guaranty against the respective signatories thereto, no director, officer, employee, incorporator, shareholder, managing
member, member, general partner, limited partner, principal or other agent of the Investor or the Company shall have any liability for any obligations of the Investor or the Company, as applicable, under this Agreement or for any claim based on, in
respect of, or by reason of, the respective obligations of the Investor or the Company, as applicable, under this Agreement. Subject to Section 10.2, each party hereby waives and releases all such liability. This waiver and release is a
material inducement to each party’s entry into this Agreement. 

  
 38 

 10.8 Entire Agreement. This Agreement and the other documents delivered pursuant to this
Agreement, including the Registration Rights Agreement, the Investor Rights Agreement and the Warrant Agreement, constitute the full and entire understanding and agreement among the parties with regard to the subjects hereof and thereof. 

10.9 Notices. Except as otherwise provided in this Agreement, all notices, requests, claims, demands, waivers and other communications
required or permitted under this Agreement shall be in writing and shall be mailed by reliable overnight delivery service or delivered by hand, facsimile or messenger as follows: 

 

			
	if to the Company:	  	 Accretive Health, Inc.
 401 North Michigan Ave.,
Suite 2700
 Chicago, IL 60611
 Attention: General Counsel

Facsimile: 312-277-6690

		
	with a copy to:	  	 Kirkland & Ellis LLP
 300 N LaSalle

Chicago, IL 60654
 Attention: Richard W. Porter, P.C.

                  Robert M. Hayward, P.C.
 Facsimile: (312) 862-2200

		
	if to the Investor:	  	 c/o TowerBrook Capital Partners L.P.
 Park
Avenue Tower
 65 East 55th Street, 29th Floor
 New York, NY
10022
 Attention: Glenn Miller
 Facsimile:
917-591-4789

		
	with a copy to:	  	 Wachtell, Lipton, Rosen & Katz
 51 West
52nd Street
 New York, New York 10019

Attention: Steven A. Cohen
 Facsimile: (212) 403-2347

 
 Covington & Burling LLP

The New York Times Building
 620 Eighth Avenue

New York, New York 10018
 Attention: Stephen A. Infante

Facsimile: (646) 441-9039

  
 39 

			
		
	if to Ascension Health:	  	 Ascension Health Alliance d/b/a Ascension
 101
S. Hanley Road, Suite 450

		  	 St. Louis, MO 63105
 Attention: Joseph
Impicciche, Executive Vice President & General Counsel
 Facsimile: (314) 733-8261

		
	with a copy to:	  	 Covington & Burling LLP
 The New York
Times Building
 620 Eighth Avenue
 New York, New York 10018

Attention: Stephen A. Infante
 Facsimile: (646)
441-9039

 or in any such case to such other address, facsimile number or telephone as either party may, from time to time, designate in
a written notice given in a like manner. Notices shall be deemed given when actually delivered by overnight delivery service, hand or messenger, or when received by facsimile if promptly confirmed. 

10.10 Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement
shall impair any such right, power, or remedy of such party, nor shall it be construed to be a waiver of or acquiescence to any breach or default, or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or
default be deemed a waiver of any other breach or default. All remedies, either under this Agreement or by law or otherwise afforded to any holder, shall be cumulative and not alternative. 

10.11 Expenses. The Company and the Investor shall bear their own expenses and legal fees incurred on their behalf with respect to this
Agreement and the Transactions, except as otherwise provided in Section 6.8. 
 10.12 Amendments and Waivers. Any term of
this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only if such amendment or waiver is in writing and signed, in the
case of an amendment, by the Company and the Investor or, in the case of a waiver, by the party against whom the waiver is to be effective; provided that Section 8.11 cannot be amended or waived without the written consent of
Ascension Health. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any securities purchased under this Agreement at the time outstanding (including securities into which such securities are
convertible), each future holder of all such securities, and the Company. Any consent hereunder and any amendment or waiver of any term of this Agreement by the Company must be approved in accordance with the Investor Rights Agreement. 

10.13 Counterparts. This Agreement may be executed in any number of counterparts and signatures may be delivered by facsimile or in
electronic format, each of which may be executed by less than all the parties, each of which shall be enforceable against the parties actually executing such counterparts and all of which together shall constitute one instrument. 

  
 40 

 10.14 Severability. If any provision of this Agreement becomes or is declared by a court
of competent jurisdiction to be illegal, unenforceable, or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Agreement and the balance of this Agreement shall be enforceable in
accordance with its terms. 
 10.15 Titles and Subtitles; Interpretation. The titles and subtitles used in this Agreement are used
for convenience only and are not to be considered in construing or interpreting this Agreement. When a reference is made in this Agreement to an Article, Section, Schedule or Exhibit, such reference shall be to an Article, Section, Schedule or
Exhibit of this Agreement unless otherwise indicated. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”
The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. Any agreement, instrument or statute defined or
referred to in this Agreement means such agreement, instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession
of comparable successor statutes. Each of the parties has participated in the drafting and negotiation of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if it is drafted by each
of the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of authorship of any of the provisions of this Agreement. 

10.16 No Additional Representations. Except for the representations and warranties contained in Section 4, the Investor
acknowledges that neither the Company nor any Person on behalf of the Company makes any other express or implied representation or warranty with respect to the Company or any Company Subsidiaries or with respect to any other information made
available to the Investor in connection with the Transactions. Neither the Company nor any other Person will have or be subject to any liability or indemnification obligation to the Investor or any other Person resulting from the distribution to the
Investor, or the Investor’s use of, any such information, including any information, documents, projections, forecasts or other material made available to the Investor in certain “data rooms” or management presentations in expectation
of the Transactions, unless and then only to the extent that any such information is expressly included in a representation or warranty contained in Section 4. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 41 

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

			
	ACCRETIVE HEALTH, INC.
		
	By:	 	 /s/ Emad Rizk

	Name:	 	 Emad Rizk

	Title:	 	 Chief Executive Officer and President

  
 [SIGNATURE PAGE
CONTINUES] 
 SIGNATURE PAGE TO SECURITIES PURCHASE AGREEMENT 

 
			
	TCP-ASC ACHI SERIES LLLP
		
	By:	 	 /s/ Glenn Miller

	Name:	 	 Glenn Miller

	Title:	 	 Attorney-in-Fact

  
 SIGNATURE PAGE TO
SECURITIES PURCHASE AGREEMENT 

 
			
	ASCENSION HEALTH ALLIANCE D/B/A ASCENSION, solely for purposes of Sections 8.11, 9.2, 10.1, 10.2 and 10.5 through 10.15
		
	By:	 	 /s/ Anthony J. Speranzo

	Name:	 	 Anthony J. Speranzo

	Title:	 	 Executive Vice President and Chief Financial Officer

  
 SIGNATURE PAGE TO
SECURITIES PURCHASE AGREEMENT 

 EXHIBITS 
  

	Exhibit A	Registration Rights Agreement* 

  

	Exhibit B	Investor Rights Agreement* 

  

	Exhibit C	Form of Warrant* 

  

	Exhibit D	Series A Certificate of Designations* 

  

	*	Filed separately as exhibits to this Current Report on Form 8-KEX-10.2

 Exhibit 10.2 

Final Form 
 THIS SECURITY, AS
WELL AS THE COMMON STOCK OF THE COMPANY UNDERLYING THIS SECURITY, HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR APPLICABLE STATE SECURITIES LAWS. THIS SECURITY, AS WELL AS THE COMMON STOCK
OF THE COMPANY UNDERLYING THIS SECURITY, MAY NOT BE OFFERED FOR SALE, SOLD, ASSIGNED OR OTHERWISE TRANSFERRED (I) IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT, (II) IN THE ABSENCE OF AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS, AS EVIDENCED (IF REQUIRED BY THE COMPANY) BY A LEGAL OPINION
OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS TRANSFER AGENT, OR (III) UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT (PROVIDED THAT THE TRANSFEROR PROVIDES THE COMPANY WITH REASONABLE ASSURANCES (IN THE FORM OF A SELLER
REPRESENTATION LETTER AND A BROKER REPRESENTATION LETTER, IN EITHER CASE AS MAY BE APPLICABLE) THAT THE SECURITIES MAY BE SOLD PURSUANT TO SUCH RULE). NO REPRESENTATION IS MADE BY THE COMPANY AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE
144 UNDER THE SECURITIES ACT FOR RESALES OF THIS SECURITY, OR THE COMMON STOCK OF THE COMPANY UNDERLYING THIS SECURITY 
 ACCRETIVE
HEALTH, INC. 
 WARRANT 
  

			
	Warrant No. [●]	  	Dated: [●], 2016

 Accretive Health, Inc., a Delaware corporation (the “Company”), hereby certifies that, for
value received, [Name of Holder] or its registered assigns (the “Holder”), is entitled to purchase from the Company up to a total of [●]1 shares of common
stock, $0.01 par value per share (the “Common Stock”), of the Company (each such share, a “Warrant Share” and all such shares, the “Warrant Shares”) at an initial exercise price equal to $3.50 per
share, at any time during the period (the “Exercise Period”) commencing on the date hereof and terminating at 5:00 p.m., New York time on [●]2 (the “Expiration
Date”). This Warrant (this “Warrant”) is issued pursuant to that certain Securities Purchase Agreement, dated as of December 7, 2015, by and among the Company, TCP-ASC ACHI Series LLLP, a Delaware limited liability
limited partnership, and solely for purposes of the sections of such agreement specified therein, 
  

	1 	Note to Draft: Total number of underlying shares will be 60 million. 

	2 	Note to Draft: To be 10 years from the Closing Date. 

 
Ascension Health Alliance d/b/a Ascension Health (the “Purchase Agreement”). The term “Warrant Price” as used in this Warrant shall mean the exercise price per
share at which Common Stock may be purchased at the time this Warrant is exercised. The Warrant Price and the number of Warrant Shares may be adjusted from time to time in accordance with Section 5. 

1. Definitions. In addition to the terms defined elsewhere in this Warrant, capitalized terms that are not otherwise defined herein
have the respective meanings given to such terms in the Purchase Agreement. 
 2. Registration of Warrant. The Company shall register
this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time. The Warrant Register also shall set forth the address of the record
Holder, as provided by such record Holder to the Company. The Company may deem and treat the registered Holder of record of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for
all other purposes, absent actual notice to the contrary. The Company shall register in the Warrant Register the exercise (pursuant to Section 4) or the transfer (pursuant to Section 6) of all or any portion of this Warrant.

 3. Duration of Warrant. This Warrant may be exercised only during the Exercise Period. This Warrant, if not exercised on or before
the Expiration Date, shall become void, and all rights thereunder and all rights in respect thereof under this Warrant shall cease at 5:00 p.m. New York time on the Expiration Date. The Company in its sole discretion may extend the duration of this
Warrant by delaying the Expiration Date; provided that the Company shall provide at least 20 days’ prior written notice of any such extension to the registered Holder of this Warrant. 

4. Exercise of Warrant and Issuance of Warrant Shares 

(a) Exercise. This Warrant may be exercised by the Holder hereof by surrendering it to the Company, with an exercise notice, in
the form attached hereto (the “Exercise Notice”), appropriately completed and duly executed, and by paying in full the Warrant Price for each full Warrant Share as to which this Warrant is exercised as follows (at the election of
the Holder): 
 (i) with respect to the exercise of this Warrant on a “cash basis”, by wire transfer of
immediately available funds, in good certified check or good bank draft payable to the order of the Company; provided, that the Holder provides the information on the Exercise Notice that is reasonably necessary for the Company to issue the
Warrant Shares in compliance with U.S. federal securities law; 
 (ii) with respect to the exercise of this Warrant on a
“cashless basis” by surrendering this Warrant for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying this Warrant or any portion thereof
being exercised (at the election of the Holder), multiplied by the difference between the Fair Market Value and the Warrant Price by (y) the Fair Market Value. “Fair Market Value” means (A) if at the time of

  
 2 

 
exercise the Common Stock is listed or quoted for trading on the New York Stock Exchange, the New York Stock Exchange, the NYSE MKT, the NASDAQ Global Select Market, the NASDAQ Global Market, the
NASDAQ Capital Market, OTC Bulletin Board or any other national securities or over-the-counter exchange (each, an “Exchange”), then the average last sale price of a share of Common Stock for the ten trading days ending on the third
trading day prior to the date on which notice of exercise of this Warrant is sent to the Company (the “Exercise Date”); or (B) if at the time of exercise the Common Stock is not listed or quoted for trading on an Exchange, then
the fair market value, of a share of Common Stock as shall be determined by the Board of Directors of the Company (the “Board”) in its good faith judgment; 

provided, however, that notwithstanding the foregoing, the issuance of shares of Common Stock or other securities upon the exercise of this Warrant
shall be made without charge to the Holder for any issue in respect thereof; provided further, however if at any time the Common Stock is not a “covered security” under Section 18(b) of the Securities Act, the Company may, at
its option, require the exercise of this Warrant to be made on a “cashless basis.” 
 (b) Issuance of Common Stock on
Exercise. As soon as practicable, but within 24 hours, after the exercise of this Warrant and the clearance of the funds in payment of the Warrant Price (if payment is on a “cash basis” pursuant to Section 4(a)(i)), the
Company shall issue to the Holder of this Warrant a certificate or certificates for the number of full shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if this
Warrant shall not have been exercised in full, a new warrant to purchase Common Stock, of like tenor, having the same date and form as this Warrant and otherwise having the same terms and conditions as this Warrant (any such new warrant, a
“New Warrant”), for the number of Warrant Shares as to which this Warrant shall not have been exercised. The Company’s obligations to issue and deliver Warrant Shares in accordance with the terms hereof are absolute and
unconditional. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the
Company’s failure to timely deliver certificates representing shares of Common Stock upon exercise of this Warrant as required pursuant to the terms hereof. 

(c) Valid Issuance. All Common Stock issued or delivered upon the proper exercise of this Warrant shall be newly issued shares or
shares held in treasury by the Company, duly authorized, validly issued, fully paid and nonassessable, and free and clear of all Liens and shall not be subject to any preemptive rights or similar rights and shall rank pari passu in all
respects with other existing Common Stock. For purposes hereof, “Lien” means any mortgage, lien (statutory or otherwise), charge, pledge, hypothecation, conditional sales agreement, adverse claim, title retention agreement or other
security interest, encumbrance or other title defect in or on any interest or title of any vendor, lessor, lender or other secured party to or of such person or entity under any conditional sale, trust receipt or other title retention agreement with
respect to any property or asset of such person or entity. At any time that this Warrant is outstanding, the Company shall cause to be maintained all authorizations required for the issuance of a number of shares of Common Stock which the Company
may be liable to issue upon exercise of this Warrant from time to time remaining outstanding, in accordance with the terms and conditions of this Warrant. 

  
 3 

 (d) Date of Issuance. Each person or entity in whose name any certificate for Common Stock
is issued shall for all purposes be deemed to have become the holder of record of such Common Stock on the date on which this Warrant was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such
certificate, except that, if the date of such surrender and payment is a date when the share transfer books of the Company are closed, such person or entity shall be deemed to have become the holder of such shares at the close of business on the
next succeeding date on which the share transfer books are open. The Company shall, upon request of the Holder, use its reasonable best efforts to cause the ownership of the Warrant Shares to be recorded upon exercise in book entry form rather than
through the issuance of physical stock certificates (provided that such book entry interests will continue to bear any required restrictive legends). 

(e) Listing of Warrant Shares. In the time and manner required by any Exchange on which the Common Stock is listed or quoted for
trading on the date in question (the “Trading Market”), the Company shall prepare and file with such Trading Market additional shares listing application covering all the Common Stock issuable upon exercise of this Warrant and shall
use its reasonable best efforts to take all steps necessary to cause all of the Common Stock issuable upon exercise of this Warrant to be approved for listing on the Trading Market at all times. 

5. Certain Adjustments. The number of Warrant Shares issuable upon exercise of this Warrant, as well as the Warrant Price, are subject
to adjustment from time to time as set forth in this Section 5. 
 (a) Split-Ups. If, after the date hereof, the number
of outstanding shares of Common Stock is increased by a stock dividend payable in Common Stock, or by a split-up or sub-division of Common Stock or other similar event, then, on the effective date of such stock dividend, split-up, sub-division or
similar event, the number of shares of Common Stock issuable on exercise of this Warrant shall be increased in proportion to such increase in the outstanding shares of Common Stock, subject to the provisions of Section 5(g). 

(b) Other Distributions. If, after the date hereof, the Company fixes a record date for making a distribution (a
“Distribution”) to the holders of its Common Stock or in connection with the liquidation, dissolution or winding up of the Company of any asset (including cash or evidence of its indebtedness) or security (including any subscription
right) other than a distribution referred to in Section 5(a), then the Warrant Price in effect prior to such record date shall be reduced immediately thereafter to the price determined by multiplying the Warrant Price in effect
immediately prior to the reduction by the quotient of (i) the Closing Sale Price of the Common Stock on the trading day immediately preceding such record date, minus the value of the Distribution (which shall be determined by the Board in its
good faith judgment) applicable to one share of Common Stock divided by (ii) the Closing Sale Price of the Common Stock on the trading day immediately preceding such record date; such adjustment shall be made successively whenever
such a record date is fixed. In such event, the number of Warrant Shares issuable upon the exercise of this Warrant shall be increased to the number obtained by dividing (x) the product of (1) the number of Warrant Shares issuable upon the
exercise of this Warrant before such adjustment, and (2) the Warrant Price in effect immediately prior to the Distribution giving rise to this adjustment by (y) the new Warrant Price determined in accordance with the

  
 4 

 
immediately preceding sentence. In the event that such Distribution is not so made, the Warrant Price and the number of Warrant Shares issuable upon exercise of this Warrant then in effect shall
be readjusted, effective as of the date when the Board determines not to make such Distribution, to the Warrant Price that would then be in effect and the number of Warrant Shares that would then be issuable upon exercise of this Warrant if such
record date had not been fixed. For purposes herein, “Closing Sale Price” shall mean (i) if at the time of the Distribution, the Common Stock is listed or quoted for trading on an Exchange, the closing sale price of the Common
Stock as quoted on such Exchange or (ii) if at the time of the Distribution, the Common Stock is not listed or quoted for trading on an Exchange, the Fair Market Value per share as shall be determined by the Board in its good faith judgment.

 (c) Aggregation of Shares. If, after the date hereof, the number of outstanding shares of Common Stock is decreased by a
consolidation, combination, reverse stock split or reclassification of Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar event, the number of shares
of Common Stock issuable on exercise of this Warrant shall be decreased in proportion to such decrease in outstanding Common Stock, subject to the provisions of Section 5(g). 

(d) Replacement of Securities upon Reorganization, etc. In case of any recapitalization, reclassification or reorganization of the
outstanding Common Stock (other than a change under Section 5(a), Section 5(b) or Section 5(c) or that solely affects the par value of such Common Stock), or in the case of any amalgamation, conversion, merger or
consolidation of the Company with or into another corporation or other entity (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any change to the outstanding Common Stock), or in the
case of any sale, lease, license, transfer or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, liquidated or
wound up or any exchange or tender offer for equity securities of the Company (a “Reorganization Transaction”), the Holder of this Warrant shall thereafter have the right to purchase and receive, upon the basis and upon the terms
and conditions specified in this Warrant and in lieu of the Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other
securities or property (including cash) receivable upon such Reorganization Transaction that the Holder of this Warrant would have received if such holder had exercised his, her or its Warrant immediately prior to such event (the
“Alternative Issuance”); provided, however, that (i) if the holders of the Common Stock were entitled to exercise a right of election as to the kind or amount of securities, cash or other assets receivable upon
such Reorganization Transaction and the Holder fails to make an election, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which this Warrant shall become exercisable shall be deemed to be the
weighted average of the kind and amount received per share by the holders of the Common Stock in such Reorganization Transaction that affirmatively make such election, and (ii) if a tender, exchange or redemption offer shall have been made to
and accepted by the holders of the Common Stock under circumstances in which, upon completion of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act) and any

  
 5 

 
members of any such group of which any such affiliate or associate is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act) more than 50% of the outstanding Common
Stock, the Holder of record of this Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of cash, securities or other property to which such holder would actually have been entitled as a stockholder if the Warrant
holder had exercised this Warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the Common Stock held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments
(from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in this Section 5. In case of any Reorganization Transaction, provision shall be made in such transaction
so that the holders of this Warrant shall be entitled, but not obligated, to participate in whole or in part in such Reorganization Transaction directly by surrendering such Warrant in exchange for the kind and amount of shares of stock or
other securities or property (including cash) receivable in such Reorganization Transaction applicable to this Warrant on an as-converted basis. If any recapitalization, reclassification or reorganization also results in a change in Common Stock
covered by both Section 5(a) or Section 5(c) and this Section 5(d), then such adjustment shall be made pursuant to both Section 5(a) or Section 5(c) and this Section 5(d). The
provisions of this Section 5(d) shall similarly apply to successive recapitalizations, reclassifications, reorganizations, amalgamations, conversions, mergers or consolidations, sales, leases, licenses, transfers, conveyances and other
similar transactions, and the Company shall not effect any such transaction unless, prior to the consummation thereof, the successor person or entity (if other than the Company) resulting from such transaction, shall assume, by written instrument
substantially similar in form and substance to this Warrant and reasonably satisfactory to the majority in interest of the Holder, the obligation to deliver to the Holder such shares of stock, securities or assets which, in accordance with the
foregoing provisions, such registered Holder shall be entitled to receive upon exercise of this Warrant held by them. Notwithstanding anything to the contrary contained herein, with respect to any corporate event or other transaction contemplated by
the provisions of this Section 5(d), the Holder shall have the right to elect prior to the consummation of such event or transaction, to give effect to the exercise rights contained herein instead of giving effect to the provisions
contained in this Section 5(d) with respect to this Warrant. 
 (e) Warrant Price Adjustment. Whenever the number of
shares of Common Stock purchasable upon the exercise of this Warrant is adjusted, as provided in Section 5(a) or Section 5(c), the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price
immediately prior to such adjustment by a fraction (i) the numerator of which shall be the number of Warrant Shares purchasable upon the exercise of this Warrant immediately prior to such adjustment, and (ii) the denominator of which shall
be the number of Warrant Shares so purchasable immediately thereafter. 
 (f) Notices of Changes in Warrant. Upon every adjustment of
the Warrant Price or the number of Warrant Shares issuable upon exercise of this Warrant, the Company shall give prompt written notice thereof to the Holder, which notice shall state the increase or decrease, if any, in the Warrant Price resulting
from such adjustment and the increase or decrease, if any, in the number of Warrant Shares purchasable at the Warrant Price, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the
occurrence of any event specified in Sections 5(a), 5(b), 5(c) or 5(d), the Company 

  
 6 

 
shall give written notice of the occurrence of such event to the Holder of record of this Warrant, at the last address set forth for such holder in the Warrant Register, of the record date or the
effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. In the event: (i) that the Company shall take a record of the holders of its Common Stock (or other
capital stock or securities at the time issuable upon exercise of this Warrant) for the purpose of entitling or enabling them to receive any dividend or other distribution, to receive any right to subscribe for or purchase any shares of capital
stock of any class or any other securities, or to receive any other security; (ii) of any recapitalization or reorganization of the Company, any reclassification of the Common Stock of the Company, any amalgamation, conversion, consolidation or
merger of the Company with or into another person or entity, or sale, lease, license, transfer or conveyance of all or substantially all of the Company’s assets to another person or entity; or (iii) of the voluntary or involuntary
dissolution, liquidation or winding-up of the Company; then, and in each such case, the Company shall send or cause to be sent to the Holder at least 20 days prior to the applicable record date or the applicable expected effective date, as the case
may be, for the event, a written notice specifying, as the case may be, (A) the record date for such dividend, distribution, or other right, and a description of such dividend, distribution or other right to be taken at such meeting or by
written consent, or (B) the effective date on which such reorganization, reclassification, amalgamation, conversion, consolidation, merger, sale, lease, license, transfer, conveyance, dissolution, liquidation or winding-up is proposed to take
place, and the date, if any is to be fixed, as of which the books of the Company shall close or a record shall be taken with respect to which the holders of record of Common Stock (or such other capital stock or securities at the time issuable upon
exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other capital stock or securities) for securities or other property deliverable upon such recapitalization, reorganization, reclassification, amalgamation,
conversion, consolidation or merger, sale, dissolution, liquidation or winding-up, and the amount per share and character of such exchange applicable to this Warrant and the Warrant Shares. Failure to give such notice, or any defect therein, shall
not affect the legality or validity of such event. 
 (g) No Fractional Shares. Notwithstanding any provision contained herein to the
contrary, the Company shall not issue fractional shares upon the exercise of this Warrant. If, by reason of any adjustment made pursuant to this Section 5, the Holder of record of this Warrant would be entitled, upon the exercise of this
Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, at its option either (i) round up to the nearest whole number, the number of shares of Common Stock to be issued to the Holder or (ii) in lieu of
such fractional share interests, pay to the Holder an amount in cash equal to the product obtained by multiplying (x) the fractional share interest to which the Holder would otherwise be entitled by (y) the Fair Market Value on the
exercise date. 
 (h) No Change to Warrant. This Warrant need not be changed because of any adjustment pursuant to
Section 5. 
 (i) Other Events. If any event shall occur affecting the Company as to which none of the provisions of
preceding subsections of this Section 5 are strictly applicable, but which would require an adjustment to the terms of this Warrant in order to (i) avoid an adverse impact on this Warrant and (ii) effectuate the intent and
purpose of this Section 5, then the Board shall make an appropriate adjustment in the Warrant Price and the number of shares of Common 

  
 7 

 
Stock issuable upon exercise of this Warrant so as to protect the rights of the Holder in a manner consistent with the provisions of this Section 5; provided, that no such adjustment
pursuant to this Section 5(i) shall increase the Warrant Price or decrease the number of shares of Common Stock issuable as otherwise determined pursuant to this Section 5 or otherwise adversely impact the Holder. 

6. Transfers. 
 (a)
Assignment Form; Registration. This Warrant may be offered for sale, sold, transferred or assigned without the consent of the Company, subject to and only in accordance with Section 4 and the Investor Rights Agreement. The Company
shall register any transfer, from time to time, of any portion of this Warrant in the Warrant Register, upon surrender of this Warrant, with the Form of Assignment attached hereto duly completed and signed (each, an “Assignment
Form”), to the Company at its address specified herein. Upon any such registration of transfer, a New Warrant evidencing the portion of this Warrant so transferred shall be issued to the transferee and a New Warrant evidencing the remaining
portion of this Warrant not so transferred, if any, shall be issued to the transferring Holder. The acceptance of any New Warrant by the transferee thereof shall be deemed the acceptance by such transferee of all of the rights and obligations of a
holder of this Warrant. 
 (b) Opinion. In connection with any such transfer, upon reasonable request by the Company to such
transferring Holder at the expense of such Holder, such Holder will give to the Company an opinion of counsel (which may be in-house counsel or outside counsel to such Holder or its investment adviser) in form and substance reasonably satisfactory
to the Company to the effect that the proposed transfer of this Warrant may be effected without registration or qualification of this Warrant under the Securities Act or New York state securities law. 

(c) Exchange of Warrant. This Warrant may be surrendered to the Company, together with a written request for exchange or transfer into
different denominations, and thereupon the Company shall issue in exchange therefor one or more New Warrants as requested by the Holder of record of this Warrant so surrendered, representing an equal aggregate number of Warrant Shares, registered in
the name of such surrendering holder. 
 (d) Fractional Warrants. The Company shall not be required to effect any registration of
transfer or exchange which shall result in the issuance of a fraction of a warrant. 
 (e) Service Charges. No service charge shall
be made for any exchange or registration of transfer of this Warrant. 
 (f) Closing of Transfer Books. The Company will at no time
close its transfer books against the transfer of this Warrant in any manner which interferes with the timely exercise hereof. 
 7. Other
Provisions Relating to Rights of the Holder of this Warrant. 
 (a) No Rights as Stockholder; Limitation on Liability. This
Warrant does not entitle the Holder thereof to any of the rights of a stockholder of the Company, including, without limitation, the right to receive dividends or other distributions (except as provided in

  
 8 

 
Section 5), exercise any preemptive rights to vote or to consent or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors of the
Company or any other matter. No provisions hereof, in the absence of affirmative action by the Holder to purchase shares of Common Stock, and no mere enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of
the Holder for the Warrant Price or as a stockholder of the Company, whether such liability is asserted by the Company or by its creditors. 

(b) Lost, Stolen, Mutilated, or Destroyed Warrant. If this Warrant is lost, stolen, mutilated, or destroyed, the Company may on such
terms as to indemnity or otherwise as it may in its reasonable discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a New Warrant of like denomination, tenor, and date as this Warrant so lost,
stolen, mutilated, or destroyed. Any such New Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone. 

(c) Reservation of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued
Common Stock that shall be sufficient to permit the exercise in full of this Warrant. 
 (d) No Impairment. The Company will not, by
amendment of its governing documents or through any recapitalization, reclassification, reorganization, amalgamation, conversion, merger, consolidation, or through any sale, lease, license, transfer, conveyance of its assets, or through any other
similar transactions, or through any dissolution, liquidation, winding up of the Company or through issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant,
but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the registered Holders against impairment. Without limiting
the generality of the foregoing, the Company (i) will not increase the par value of any shares of Common Stock issuable upon exercise of this Warrant above the amount payable therefor on such exercise, (ii) will take all such action as may
be reasonably necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares Common Stock upon the exercise of this Warrant, and (iii) will not close its stockholder books or records in any
manner which interferes with the timely exercise of this Warrant. 
 (e) Further Assurances. The Company shall take such actions as
are reasonably required in order for the Company to satisfy its obligations under this Warrant, including, without limitation, using reasonable best efforts in obtaining the approval of the holders of any class or series of capital stock or making
any filings, in each case as required pursuant to applicable law or the listing requirements (if any) of any national securities exchange on which any class or series of capital stock is then listed or traded. The Company further agrees to cooperate
with the Holders in the making of any filings under applicable law that are to be made by the Company or any Holder in connection with the exercise of the Holder’s rights under this Warrant. 

  
 9 

 8. Charges, Taxes and Expenses. The Company shall from time to time promptly pay any issue
or transfer tax, withholding tax, transfer agent fee or other incidental tax or expense that may be imposed upon the Company in respect of the issuance or delivery of Common Stock to the registered holder thereof upon the exercise of this Warrant,
including such taxes imposed pursuant to Section 4, but the Company shall not be obligated to pay any transfer taxes associated with transfers by the holder of this Warrant or Warrant Shares. 

9. Successors. All the covenants and provisions of this Warrant by or for the benefit of the Company shall bind and inure to the
benefit of their respective successors and assigns. The Company will not amalgamate, merge, convert or consolidate with or into, or sell, transfer, license or lease all or substantially all of its property or assets to, any other party unless the
successor, transferee, licensee or lessee party, as the case may be (if not the Company), assumes (expressly or by operation of law) the due and punctual performance and observance of each and every covenant and condition of this Warrant to be
performed and observed by the Company. 
 10. Notices. All notices, statements or other documents which are required or contemplated
by this Warrant (including without limitation the delivery of any Exercise Notice or Assignment Form, the surrender of this Warrant and the issuance of any New Warrant) to be given, delivered or made by the Company or the Holder to the other shall
be in writing (each a “Notice”) and shall be: (a) delivered personally or by commercial messenger; (b) sent via a recognized overnight courier service; (c) sent by registered or certified mail, postage pre-paid and
return receipt requested; or (d) sent by facsimile transmission, provided confirmation of receipt is received by sender and the original Notice is sent or delivered contemporaneously by an additional method provided in this
Section 10; in each case so long as such Notice is addressed to the intended recipient thereof as set forth below: 
 If to the
Company: 
 Accretive Health, Inc. 

401 North Michigan Avenue, Suite 2700 

Chicago, IL 60611 

Attention: General Counsel 

Facsimile: 312-277-6690 

If to the Holder: 

c/o TowerBrook Capital Partners L.P. 

Park Avenue Tower 

65 E. 55th Street,
29th Floor 
 New York, NY 10022 

Attention: Glenn Miller 

Facsimile: 917-591-4789 
 Any
party may change its address specified above by giving each party Notice of such change in accordance with this Section 10. Any Notice shall be deemed given upon actual receipt (or refusal of receipt). 

  
 10 

 11. Applicable Law. The validity, interpretation, and performance of this Warrant shall be
governed in all respects by the laws of the State of Delaware, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The Company hereby agrees that any action,
proceeding or claim against it arising out of or relating in any way to this Warrant shall be brought and enforced in the Chancery Court of the State of Delaware and any state appellate court therefrom sitting in New Castle County in the State of
Delaware (or, solely if the Chancery Court of the State of Delaware declines to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware), and irrevocably submits to such jurisdiction, which jurisdiction
shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. 

12. Persons Having Rights under this Warrant. Nothing in this Warrant expressed and nothing that may be implied from any of the
provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the Holder of this Warrant any right, remedy, or claim under or by reason of this Warrant or of any
covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Warrant shall be for the sole and exclusive benefit of the parties hereto and their successors and
assigns and of the Holder of this Warrant, each of whom is a third party beneficiary of this Warrant. 
 13. Effect of Headings. The
section headings herein are for convenience only and are not part of this Warrant and shall not affect the interpretation thereof. 
 14.
Amendment and Waiver. All modifications or amendments, including any amendment to increase the Warrant Price, change the number of shares of Common Stock issuable upon exercise of this Warrant or shorten the Exercise Period, shall require the
written consent of the Holder of this Warrant. Any consent hereunder and any amendment or waiver of any term of this Warrant by the Company must be approved in accordance with the Investor Rights Agreement. Notwithstanding the foregoing, the Company
may extend the duration of the Exercise Period pursuant to Section 3 without the consent of the Holder of this Warrant. 
 15.
Miscellaneous. 
 (a) This Warrant shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof
shall not affect the validity or enforceability of this Warrant or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of
this Warrant a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 

(b) If the Company fails to perform, comply with or observe any covenant or agreement to be performed, complied with or observed by it under
this Warrant, the Holder may proceed to protect and enforce its rights by suit in equity or action at law, whether for specific performance of any term contained in this Warrant or for an injunction against the breach or threatened breach of any
such term or in aid of the exercise of any power granted in this Warrant or to enforce any other legal or equitable right, or to take any one or more of such actions. The 

  
 11 

 
Company hereby agrees that the Holder shall not be required or otherwise obligated to, and hereby waives any right to demand that such Holder, post any performance or other bond in connection
with the enforcement of its rights and remedies hereunder. The Company agrees to pay all reasonable fees, costs, and expenses, including, without limitation, fees and expenses of attorneys, accountants and other experts retained by the Holder, and
all reasonable fees, costs and expenses of appeals, incurred or expended by the Holder in connection with the enforcement of this Warrant or the collection of any sums due hereunder, whether or not suit is commenced. None of the rights, powers or
remedies conferred under this Warrant shall be mutually exclusive, and each right, power or remedy shall be cumulative and in addition to any other right, power or remedy whether conferred by this Warrant or now or hereafter available at law, in
equity, by statute or otherwise. 
 REMAINDER OF PAGE INTENTIONALLY LEFT BLANK, 

SIGNATURE PAGE FOLLOWS 

  
 12 

 IN WITNESS WHEREOF, the Company and Holder have caused this Warrant to be duly executed by its
authorized officer as of the date first indicated above. 
  

			
	ACCRETIVE HEALTH, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[HOLDER]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 13 

 FORM OF EXERCISE NOTICE 

(To be executed by the Holder to exercise the right to purchase shares of Common Stock under the foregoing Warrant) 

To Accretive Health, Inc.: 
 The undersigned is the
Holder of Warrant No.      (the “Warrant”) issued by Accretive Health, Inc., a Delaware corporation (the “Company”), which accompanies this Exercise Notice. Capitalized terms used herein and not
otherwise defined have the respective meanings set forth in the Warrant. 
  

	1.	The Warrant is currently exercisable to purchase a total of              Warrant Shares. 

 

	2.	The undersigned Holder hereby exercises its right to purchase              Warrant Shares pursuant to the Warrant. 

 

	3.	The Holder intends that payment of the Warrant Price shall be made as (check one): 

  

	 	(a)	“Cash Basis” under Section 4(a)(i) 

  

	 	(b)	“Cashless Basis” under Section 4(a)(ii) 

  

	4.	If the Holder has elected a “Cash Basis,” the undersigned Holder shall pay the sum of $             to the Company in accordance with the terms of
the Warrant. 

  

	5.	To the extent that the Holder intends the payment of the Warrant Price to be made on a “Cash Basis” (pursuant to Item 3 above), undersigned Holder confirms to the Company the following checked
representations and agreements are true as of the date hereof: 

      It is acquiring Warrant
Shares whose issuance upon exercise of the Warrant has been registered on an effective registration statement under the Securities Act. 
 OR

      It (A) is an “accredited investor” within the meaning of Rule 501(a)(1) under the
Securities Act OR (B) 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 Warrant Shares, and has so evaluated the merits and risks of such investment; AND 
      It is acquiring the
Warrant Shares for itself and does not intend to re-offer or re-sell the Warrant Shares in connection with a distribution; AND 

     It understands that each Warrant Share is characterized as “restricted security” under the U.S.
federal securities laws inasmuch as it is being acquired from the Company in a 

 
transaction not involving a public offering and that under U.S. federal securities laws and applicable regulations the Warrant Shares may be resold without registration under the Securities Act
only in certain limited circumstances; AND 
      It is understood that certificates evidencing the Warrant
Shares will bear any legend as required by the Blue Sky laws of any state and a restrictive legend in substantially the form set forth in the Purchase Agreement (as defined in the Warrant). 

 

	6.	Pursuant to this exercise, the Company shall deliver to the undersigned Holder              Warrant Shares in accordance with the terms of the Warrant.

  

	7.	Following this exercise, the Warrant shall be exercisable to purchase a total of              Warrant Shares. 

 

							
	Dated:             ,         	 		 	Name of Holder:
				
		 		 	(Print)	 	  

				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

			
		 		 	(Signature must conform in all respects to name of holder as specified on the face of the Warrant)

  

			
	ACKNOWLEDGED AND AGREED TO this      day of             , 20    
	
	ACCRETIVE HEALTH, INC.
		
	By:	 	
	Name:	 	  

	Title:	 	  

 FORM OF ASSIGNMENT 

[To be completed and signed only upon transfer of Warrant] 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                     the right represented by the within Warrant to purchase             
shares of Common Stock of Accretive Health, Inc. to which the within Warrant relates and appoints              attorney to transfer said right on the books of Accretive Health, Inc. with
full power of substitution in the premises. 
 In connection with any transfer of the Warrant, the undersigned confirms that it has not utilized any general
solicitation or general advertising in connection with the transfer and is making the transfer pursuant to one of the following: 
 [Check
One] 
 (1)      to the Company; or 

(2)      to an “accredited investor” (as defined in Rule 501(a) under the Securities Act of 1933, as amended (the
“Securities Act”)); or 
 (3)      pursuant to the exemption from registration provided by Rule 144 under the
Securities Act or pursuant to another exemption available under the Securities Act; or 
 (4)      pursuant to an effective
registration statement under the Securities Act. 
 and unless the box below is checked, the undersigned confirms that the Warrant is not being transferred
to an “affiliate” of the Company as defined in Rule 144 under the Securities Act (an “Affiliate”): 
  

	 	 ̈	The transferee is an Affiliate of the Company. 

 Dated:
            ,          
  

	
	  

	(Signature must conform in all respects to name of holder as specified on the face of the Warrant)
	
	  

	Address of Transferee
	
	  

	
	  

	
	In the presence of:

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