<SEC-DOCUMENT>0001144204-17-007951.txt : 20170213
<SEC-HEADER>0001144204-17-007951.hdr.sgml : 20170213
<ACCEPTANCE-DATETIME>20170213164055
ACCESSION NUMBER:		0001144204-17-007951
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170103
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170213
DATE AS OF CHANGE:		20170213

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Apollo Medical Holdings, Inc.
		CENTRAL INDEX KEY:			0001083446
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
		IRS NUMBER:				870042699
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37392
		FILM NUMBER:		17599881

	BUSINESS ADDRESS:	
		STREET 1:		450 NORTH BRAND BLVD.,
		STREET 2:		SUITE 600
		CITY:			GLENDALE
		STATE:			CA
		ZIP:			91203
		BUSINESS PHONE:		818-396-8050

	MAIL ADDRESS:	
		STREET 1:		700 NORTH BRAND BLVD.,
		STREET 2:		SUITE 1400
		CITY:			GLENDALE
		STATE:			CA
		ZIP:			91203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SICLONE INDUSTRIES INC
		DATE OF NAME CHANGE:	19990413
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>v459177_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>SECURITIES AND
EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">Washington, D.C.
20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>CURRENT
REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>PURSUANT TO SECTION
13 OR 15(d)<BR>
OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">Date of Report (Date
of earliest event reported): January 3, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>APOLLO MEDICAL
HOLDINGS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">(Exact name of registrant as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-37392</FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">46-3837784 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or Other Jurisdiction</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(Commission File</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of Incorporation)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Number)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identification
Number)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">700 N. Brand Blvd.,
Suite 1400, Glendale, CA 91203</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">(Address of principal executive offices) (zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">(818) 396-8050</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">(Registrant's
telephone number, including area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">N/A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">(Former name or former
address, if changed since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27.3pt 0pt 14pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Precommencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Precommencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 1.01</B></TD><TD STYLE="text-align: justify"><B>Entry into a Material Definitive Agreement.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">As previously reported,
on December 21, 2016, Apollo Medical Holdings, Inc., a Delaware corporation (the &ldquo;Company&rdquo;), entered into an Agreement
and Plan of Merger (the &ldquo;Merger Agreement&rdquo;) among the Company, Apollo Acquisition Corp., a California corporation
and wholly-owned subsidiary of the Company (&ldquo;Merger Subsidiary&rdquo;), Network Medical Management, Inc., a California corporation
(&ldquo;NMM&rdquo;), and Kenneth Sim, M.D., not individually but in his capacity as the representative of the shareholders of
NMM (the &ldquo;Shareholders&rsquo; Representative&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">As previously reported
under Item 1.01 in the Current Report on Form 8-K filed on December 22, 2016, pursuant to Section 3.14 of the Merger Agreement,
on January 3, 2017 NMM provided a loan to the Company in the principal amount of Five Million Dollars ($5,000,000), which is evidenced
by a Promissory Note (the &ldquo;Promissory Note&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Promissory Note
has a term of  two (2) years, with the Company&rsquo;s payment obligations commencing on February 1, 2017 and continuing
on a quarterly basis thereafter until January 2019 (the &ldquo;Maturity Date&rdquo;). Under the terms of the Promissory Note,
the Company must pay NMM interest on the principal balance outstanding at the Prime Rate plus one percent (1%). As used in the
Promissory Note, &ldquo;Prime Rate&rdquo; means the prime rate of interest for commercial customers as publicly or privately announced
from time to time by Bank of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">All outstanding principal
and accrued but unpaid interest under the Promissory Note is due and payable in full on the Maturity Date. The Company may voluntarily
prepay the outstanding principal and interest in whole or in part without penalty or premium.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Under the Promissory
Note, upon the occurrence of any Event of Default (as such term is defined in the Promissory Note), the unpaid principal amount
of, and all accrued but unpaid interest on, the Promissory Note will become due and payable immediately at the option of NMM.
In such event, NMM may, at its option, declare the entire unpaid balance of the Promissory Note, together with all accrued interest,
applicable fees, and costs and charges, including costs of collection, if any, to be immediately due and payable in cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The foregoing description
of the Promissory Note does not purport to be complete and is qualified in its entirety by reference to the complete text of the
Promissory Note, a copy of which is filed herewith as Exhibit 99.1 and which is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 2.03.</B></TD><TD STYLE="text-align: justify"><B>Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The information set forth under
Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 9.01.</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><U>Exhibit No.</U></TD><TD STYLE="text-align: justify"><U>Description</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left">99.1</TD><TD STYLE="text-align: justify">Promissory Note dated as of January 3, 2017 between Apollo
Medical Holdings, Inc. and Network Medical Management, Inc.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Pursuant to the requirements
of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>APOLLO MEDICAL HOLDINGS, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: February 13, 2017</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Warren Hosseinion</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warren Hosseinion</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
</TABLE>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v459177_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>PROMISSORY NOTE</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">$5,000,000</FONT></TD>
    <TD STYLE="width: 50%; padding: 0; font-size: 10pt; text-align: right; text-indent: 0"><FONT STYLE="font-size: 10pt">January 3, 2017</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This PROMISSORY NOTE
(this &ldquo;Note&rdquo;) is dated as of the date written above and is made by APOLLO MEDICAL HOLDINGS, INC., a Delaware corporation
(&ldquo;AMH&rdquo;), in favor and for the benefit of NETWORK MEDICAL MANAGEMENT, INC., a California corporation (&ldquo;NMM&rdquo;),
with reference to the following recitals:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Recitals:</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMH,
Apollo Acquisition Corp., a California corporation and wholly owned subsidiary of AMH (&ldquo;Merger Sub&rdquo;), NMM and Kenneth
Sim, M.D. as the Shareholders&rsquo; Representative, have entered into an Agreement and Plan of Merger dated December 21, 2016
(the &ldquo;Merger Agreement&rdquo;), pursuant to which Merger Sub will merge with and into NMM, with NMM continuing as the surviving
corporation, upon the terms and subject to the conditions set forth therein. Capitalized terms used but not otherwise defined herein
shall have the meanings ascribed to such terms in the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to Section 3.13 of the Merger Agreement, prior to the Closing, NMM intends to distribute Company Distributable Cash to the Shareholders
(the &ldquo;Cash Distribution&rdquo;). The Shareholders intended to use a portion of such Cash Distribution to extend a working
capital loan to AMH at the Closing in the amount of the Working Capital Loan Amount (i.e., $5 million). However, due to AMH&rsquo;s
immediate working capital needs, AMH cannot delay the working capital loan until the Closing. As such, pursuant to Section 3.14
of the Merger Agreement, within five (5) Business Days following the Execution Date, NMM will loan the Working Capital Loan Amount
to AMH (as evidenced by this Note) (the &ldquo;NMM Working Capital Loan&rdquo;) that was originally intended to be loaned by the
Shareholders to AMH as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the NMM Working Capital Loan, in order to effectuate the original intent of the Shareholders to loan the Working Capital Loan Amount
to AMH as described above, (i) concurrently with the Cash Distribution, the Shareholders shall be deemed to have loaned back to
NMM a portion of such Cash Distribution; (ii) the principal amount of such loan by the Shareholders to NMM (the &ldquo;Shareholder
Loan&rdquo;) will be in the amount of the Working Capital Loan Amount; (iii) NMM shall be deemed to have used the proceeds of the
Shareholder Loan to fund the NMM Working Capital Loan; and (iv) concurrently with the Cash Distribution, NMM shall execute and
deliver a promissory note in the form attached hereto as <U>Exhibit A</U> (the &ldquo;Shareholder Note&rdquo;) which shall be payable
to the Shareholders&rsquo; Representative on behalf of the Shareholders in the principal amount of the Working Capital Loan Amount,
the terms of which Shareholder Note shall be substantially identical to the terms of this Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, for
full and adequate consideration and value given to AMH by NMM, the receipt and sufficiency of which are hereby acknowledged, AMH
hereby covenants and agrees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Obligation
to Pay</U>. AMH hereby promises to pay to the order of NMM, at 1668 South Garfield, Third Floor, Alhambra, California 91801, or
at such other address as NMM may from time-to-time designate in writing, the principal sum of Five Million Dollars ($5,000,000),
plus interest on the unpaid principal thereof from time-to-time outstanding, accruing from and after the date hereof, at a rate
which is at all times equal to the &ldquo;Prime Rate&rdquo; <U>plus</U> one percent (1%). As used herein, the &ldquo;Prime Rate&rdquo;
shall mean the prime rate of interest for commercial customers, as publicly or privately announced from time to time by Bank of
America. Any change in the Prime Rate that is made during any month during the term of this Note shall be reflected in the interest
charged under this Note on the first day of the month immediately following the date of such change. All payments of principal
and/or interest hereon shall be payable in lawful money of the United States of America and in immediately available funds. Interest
hereon shall be calculated on the basis of the actual number of days elapsed in a 360-day year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments</U>.
Principal and interest shall be due and payable, without offset or deduction, on the dates and in the manner set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Principal</U>.
The entire outstanding principal amount under this Note shall be due and payable in full on the &ldquo;Maturity Date&rdquo; (defined
below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Interest</U>.
AMH shall pay to NMM successive quarterly installments comprising all accrued and unpaid interest on the principal balance hereof
from time-to-time outstanding at the Prime Rate plus one percent (1%), commencing on the first day of the first month immediately
following the execution of this Note, and continuing on the same day of each third (3<SUP>rd</SUP>) succeeding month thereafter
until the Maturity Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maturity
Date</U>. The &ldquo;Maturity Date&rdquo; shall mean the date that is two (2) years after the date hereof, at which time the entire
principal balance hereof, all accrued interest thereon, and all other applicable fees, costs and charges, if any, shall be due
and payable in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
payments shall be in lawful money of the United States payable to NMM at its address set forth above, or at such other place as
NMM may designate from time-to-time in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Prepayments</U>.
The indebtedness evidenced by this Note may be prepaid in whole or in part without penalty or premium. Notwithstanding the foregoing,
any prepayment by AMH of the indebtedness evidenced by this Note shall not delay the next consecutive installment payment when
such payment shall become due, as provided above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Events
of Default</U>. Each of the following events shall constitute an event of default hereunder (&ldquo;Event of Default&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMH
shall fail to pay an installment of interest or principal on this Note on or before the 10th day after written notice of AMH&rsquo;s
failure to pay is provided by NMM to AMH;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
pursuant to or within the meaning of the United States Bankruptcy Code or any other federal or state law relating to insolvency
or relief of debtors (a &ldquo;<U>Bankruptcy Law</U>&rdquo;), AMH shall (i) commence a voluntary case or proceeding, (ii) consent
to the entry of an order for relief against it in an involuntary case, (iii) consent to the appointment of a trustee, receiver,
assignee, liquidator or similar official, (iv) make an assignment of the benefit of its creditors, or (v) admit in writing its
inability to pay its debts as they become due; and/or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (i) is for relief against AMH in an involuntary
case, (ii) appoints a trustee, receiver, assignee, liquidator or similar official for AMH or substantially all of AMH&rsquo;s properties,
or (iii) orders the liquidation of AMH, and in each case the order of decree is not dismissed within 180 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Acceleration</U>.
At the option of NMM, the unpaid principal amount of, and all accrued but unpaid interest on, this Note shall become immediately
due and payable upon the occurrence of any Event of Default, in which event, NMM may at its option declare the entire unpaid balance
of this Note, all interest accrued thereon, together with all other applicable fees, costs and charges, if any, to be immediately
due and payable in cash, and NMM may proceed to exercise any rights or remedies that it may have under this Note or such other
rights and remedies which NMM may have at law, equity or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Costs
of Collection</U>. In the event of any default hereunder, in addition to principal, interest and late charges, NMM shall be entitled
to collect all costs of collection, including but not limited to, reasonable attorneys&rsquo; fees incurred in connection with
any of NMM&rsquo;s reasonable collection efforts, whether or not suit on this Note is filed, and any and all such costs and expenses
shall be payable on demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Waiver</U>. No failure on the part of NMM or other holder hereof to exercise any right or remedy hereunder, whether before or after
the happening of a default, shall constitute a waiver thereof, and no waiver of any past default shall constitute waiver of any
future default or of any other default. No failure to accelerate the debt evidenced hereby by reason of default hereunder, or acceptance
of a past due installment, or indulgence granted from time to time shall be construed to be a waiver of the right to insist upon
prompt payment thereafter or to impose late charges retroactively or prospectively, or shall be deemed to be a novation of this
Note or as a reinstatement of the debt evidenced hereby or a waiver of such right of acceleration or any other right, or be construed
so as to preclude the exercise of any right which NMM may have, whether by the laws of the State governing this Note, by agreement
or otherwise; and AMH and each endorser or guarantor hereby expressly waives the benefit of any statute or rule of law or equity
which would produce a result contrary to or in conflict with the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver
by AMH</U>. AMH, and each endorser or guarantor of this Note hereby (i) waives presentment, demand, protest and notice of presentment,
notice of protest and notice of dishonor of this debt and each and every other notice of any kind respecting this Note, (ii) agrees
that NMM, at any time or times, without notice to such party or such party&rsquo;s consent, may grant extensions of time, without
limit as to the number or the aggregate period of such extensions, for the payment of any principal and/or interest due hereon;
and (iii) to the extent not prohibited by law, waives the benefit of any law or rule of law intended for its advantage or protection
as an obligor hereunder or in whole or in part, on account of any facts or circumstances other than full and complete payment of
all amounts due hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Usury
Laws</U>. It is the intent of the parties to comply with the usury law of the State of California (the &ldquo;Applicable Usury
Law&rdquo;). Accordingly, to the extent NMM is not exempt from the Applicable Usury Law, it is agreed that notwithstanding any
provisions to the contrary in this Note, in no event shall this Note or such documents require the payment or permit the collection
of interest in excess of the maximum interest rate permitted by the Applicable Usury Law (the &ldquo;Maximum Interest Rate&rdquo;),
then in any such event (i) the provisions of this paragraph shall govern and control, (ii) neither AMH nor any entity now or hereafter
liable for the payment hereof shall be obligated to pay the amount of such interest to the extent that it is in excess of the Maximum
Interest Rate, (iii) any such excess which may have been collected shall be either applied as a credit against the then unpaid
principal amount hereof or refunded to AMH, at NMM&rsquo;s option, and (iv) the effective rate of interest shall be automatically
reduced to the Maximum Interest Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Choice
of Law</U>. This Note shall be interpreted and enforced in accordance with the laws of the State of California, and shall be deemed
to have been executed and delivered in the State of California.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Time
is of the Essence</U>. Time is of the essence in the performance of each and every obligation under this Note to be performed by
AMH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Written
Modifications</U>. This Note may amended only by an agreement in writing signed by the parties against whom enforcement of any
waiver, change, modification or discharge is sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors
and Assigns</U>. This Note shall be binding upon and inure to the benefit of the parties hereto, and their respective successors
and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreement
to Perform Necessary Acts</U>. Each party agrees to perform any further acts and execute and deliver any further documents which
may be reasonably necessary or otherwise reasonably required to carry out the provisions of this Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Validity</U>.
If for any reason any clause or provision of this Note, or the application of any such clause or provision in a particular context
or to a particular situation, circumstance or person, should be held unenforceable, invalid or in violation of law by any court
or other tribunal, then the application of such clause or provision in contexts or to situations, circumstances or persons other
than that in or to which it is held unenforceable, invalid or in violation of law shall not be affected thereby, and the remaining
clauses and provisions hereof shall nevertheless remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Reciprocation</U>. The parties hereby acknowledge and agree that financial accommodations extended to AMH by NMM hereunder neither
require nor are in any way contingent upon the admission, recommendation, referral or any other arrangement for the provision of
any item or service offered by NMM or any of its affiliates, to any of AMH&rsquo;s contractors, partners, employees or agents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement</U>. This Note constitutes the full and complete agreement and understanding between the parties hereto and shall supersede
any and all prior written and oral agreements concerning the subject matter contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
AMH has caused this Note to be duly executed as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>AMH</U>:</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 1%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 49%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">APOLLO MEDICAL HOLDINGS, INC.</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">/s/ Warren Hosseinion </TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Warren Hosseinion </U></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>CEO</U></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>AGREED TO AND ACKNOWLEDGED</U></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>BY NMM</U>:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">NETWORK MEDICAL MANAGEMENT, INC.</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">/s/ Thomas Lam, M.D.</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Thomas Lam, M.D. </U></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>CEO</U></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>Exhibit A</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SHAREHOLDER NOTE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>



<P STYLE="margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>PROMISSORY NOTE</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">$5,000,000</FONT></TD>
    <TD STYLE="width: 50%; padding: 0; font-size: 10pt; text-indent: 0; text-align: right"><FONT STYLE="font-size: 10pt">__________, 201_</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This PROMISSORY NOTE
(this &ldquo;Note&rdquo;) is dated as of the date written above and is made by NETWORK MEDICAL MANAGEMENT, INC., a California corporation
(&ldquo;NMM&rdquo;), payable to KENNETH SIM, M.D. (the &ldquo;Shareholders&rsquo; Representative&rdquo;) acting for, and for the
benefit of, the &ldquo;Shareholders&rdquo; of NMM (as defined in the &ldquo;Merger Agreement&rdquo; referenced below), with reference
to the following recitals:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>Recitals:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference
is made to of that certain Agreement and Plan of Merger dated December 21, 2016 (the &ldquo;Merger Agreement&rdquo;), by and among
Apollo Medical Holdings, Inc., a Delaware corporation (&ldquo;AMH&rdquo;), Apollo Acquisition Corp., a California corporation and
wholly owned subsidiary of AMH (&ldquo;Merger Sub&rdquo;), NMM and the Shareholders&rsquo; Representative, pursuant to which Merger
Sub will merge with and into NMM, with NMM continuing as the surviving corporation, upon the terms and subject to the conditions
set forth therein. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the
Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Note is the &ldquo;Shareholder Note&rdquo; referenced in Section 3.14 of the Merger Agreement and Recital C of that certain Promissory
Note dated December __, 2016, made by AMH in favor and for the benefit of NMM (the &ldquo;NMM Working Capital Note&rdquo;), pursuant
to which NMM loaned the Working Capital Loan Amount to AMH (the &ldquo;NMM Working Capital Loan&rdquo;), as evidenced by the NMM
Working Capital Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
NMM Working Capital Loan was originally intended to be extended by the Shareholders to AMH at the Closing, as follows: (i) pursuant
to Section 3.13 of the Merger Agreement, prior to the Closing, NMM would distribute Company Distributable Cash to the Shareholders
(the &ldquo;Cash Distribution&rdquo;); and (ii) the Shareholders intended to use a portion of such Cash Distribution to extend
a working capital loan to AMH at the Closing in the amount of the Working Capital Loan Amount (i.e., $5 million). However, due
to AMH&rsquo;s immediate working capital needs, AMH could not delay the working capital loan until the Closing, and consequently,
pursuant to Section 3.14 of the Merger Agreement, NMM loaned the Working Capital Loan Amount to AMH, as evidenced by the NMM Working
Capital Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the NMM Working Capital Loan, in order to effectuate the original intent of the Shareholders to loan the Working Capital Loan Amount
to AMH as described above, (i) concurrently with the Cash Distribution, the Shareholders shall be deemed to have loaned back to
NMM a portion of such Cash Distribution; (ii) the principal amount of such loan by the Shareholders to NMM (the &ldquo;Shareholder
Loan&rdquo;) will be in the amount of the Working Capital Loan Amount, and evidenced by this Note; (iii) NMM shall be deemed to
have used the proceeds of the Shareholder Loan to fund the NMM Working Capital Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, for
full and adequate consideration and value given to NMM by the Shareholders, the receipt and sufficiency of which are hereby acknowledged,
NMM hereby covenants and agrees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Obligation
to Pay</U>. NMM hereby promises to pay to the order of the Shareholders&rsquo; Representative, at 1668 South Garfield, Third Floor,
Alhambra, California 91801, or at such other address as the Shareholders&rsquo; Representative may from time-to-time designate
in writing, the principal sum of Five Million Dollars ($5,000,000), plus interest on the unpaid principal thereof from time-to-time
outstanding, accruing from and after the date hereof, at a rate which is at all times equal to the &ldquo;Prime Rate&rdquo; plus
one percent (1%). As used herein, the &ldquo;Prime Rate&rdquo; shall mean the prime rate of interest for commercial customers,
as publicly or privately announced from time to time by Bank of America. Any change in the Prime Rate that is made during any month
during the term of this Note shall be reflected in the interest charged under this Note on the first day of the month immediately
following the date of such change. All payments of principal and/or interest hereon shall be payable in lawful money of the United
States of America and in immediately available funds. Interest hereon shall be calculated on the basis of the actual number of
days elapsed in a 360-day year. Notwithstanding anything to the contrary set forth in this Note, the Shareholders shall be entitled
to receive, and the Shareholders&rsquo; Representative shall distribute, each Shareholder&rsquo;s respective Pro Rata Portion of
all payments of principal and/or interest actually received by the Shareholders&rsquo; Representative hereon, which shall be distributed
by the Shareholders&rsquo; Representative within twenty (20) Business Days following receipt by the Shareholders&rsquo; Representative,
in each case without any obligation to pay additional interest from the date any such payments are received to the date distributed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments</U>.
Principal and interest shall be due and payable, without offset or deduction, on the dates and in the manner set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Principal</U>.
The entire outstanding principal amount under this Note shall be due and payable in full on the &ldquo;Maturity Date&rdquo; (defined
below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Interest</U>.
NMM shall pay to the Shareholders&rsquo; Representative successive quarterly installments comprising all accrued and unpaid interest
on the principal balance hereof from time-to-time outstanding at the Prime Rate plus one percent (1%), commencing on the first
day of the first month immediately following the execution of this Note, and continuing on the same day of each third (3<SUP>rd</SUP>)
succeeding month thereafter until the Maturity Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maturity
Date</U>. The &ldquo;Maturity Date&rdquo; shall mean the date that is two (2) years after the date hereof, at which time the entire
principal balance hereof, all accrued interest thereon, and all other applicable fees, costs and charges, if any, shall be due
and payable in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
payments shall be in lawful money of the United States payable to the Shareholders&rsquo; Representative at its address set forth
above, or at such other place as the Shareholders&rsquo; Representative may designate from time-to-time in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Prepayments</U>.
The indebtedness evidenced by this Note may be prepaid in whole or in part without penalty or premium. Notwithstanding the foregoing,
any prepayment by NMM of the indebtedness evidenced by this Note shall not delay the next consecutive installment payment when
such payment shall become due, as provided above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Events
of Default</U>. Each of the following events shall constitute an event of default hereunder (&ldquo;Event of Default&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NMM
shall fail to pay an installment of interest or principal on this Note on or before the 10th day after written notice of NMM&rsquo;s
failure to pay is provided by the Shareholders&rsquo; Representative to NMM;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
pursuant to or within the meaning of the United States Bankruptcy Code or any other federal or state law relating to insolvency
or relief of debtors (a &ldquo;<U>Bankruptcy Law</U>&rdquo;), NMM shall (i) commence a voluntary case or proceeding, (ii) consent
to the entry of an order for relief against it in an involuntary case, (iii) consent to the appointment of a trustee, receiver,
assignee, liquidator or similar official, (iv) make an assignment of the benefit of its creditors, or (v) admit in writing its
inability to pay its debts as they become due; and/or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (i) is for relief against NMM in an involuntary
case, (ii) appoints a trustee, receiver, assignee, liquidator or similar official for NMM or substantially all of NMM&rsquo;s properties,
or (iii) orders the liquidation of NMM, and in each case the order of decree is not dismissed within 180 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Acceleration</U>.
At the option of the Shareholders&rsquo; Representative, the unpaid principal amount of, and all accrued but unpaid interest on,
this Note shall become immediately due and payable upon the occurrence of any Event of Default, in which event, the Shareholders&rsquo;
Representative may at its option declare the entire unpaid balance of this Note, all interest accrued thereon, together with all
other applicable fees, costs and charges, if any, to be immediately due and payable in cash, and the Shareholders&rsquo; Representative
may proceed to exercise any rights or remedies that the Shareholders may have under this Note or such other rights and remedies
which the Shareholders may have at law, equity or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Costs
of Collection</U>. In the event of any default hereunder, in addition to principal, interest and late charges, the Shareholders&rsquo;
Representative shall be entitled to collect all costs of collection, including but not limited to, reasonable attorneys&rsquo;
fees incurred in connection with any of the Shareholders&rsquo; Representative&rsquo;s reasonable collection efforts, whether or
not suit on this Note is filed, and any and all such costs and expenses shall be payable on demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Waiver</U>. No failure on the part of the Shareholders&rsquo; Representative or other holder hereof to exercise any right or remedy
hereunder, whether before or after the happening of a default, shall constitute a waiver thereof, and no waiver of any past default
shall constitute waiver of any future default or of any other default. No failure to accelerate the debt evidenced hereby by reason
of default hereunder, or acceptance of a past due installment, or indulgence granted from time to time shall be construed to be
a waiver of the right to insist upon prompt payment thereafter or to impose late charges retroactively or prospectively, or shall
be deemed to be a novation of this Note or as a reinstatement of the debt evidenced hereby or a waiver of such right of acceleration
or any other right, or be construed so as to preclude the exercise of any right which the Shareholders&rsquo; Representative and/or
the Shareholders may have, whether by the laws of the State governing this Note, by agreement or otherwise; and NMM and each endorser
or guarantor hereby expressly waives the benefit of any statute or rule of law or equity which would produce a result contrary
to or in conflict with the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver
by NMM</U>. NMM, and each endorser or guarantor of this Note hereby (i) waives presentment, demand, protest and notice of presentment,
notice of protest and notice of dishonor of this debt and each and every other notice of any kind respecting this Note, (ii) agrees
that the Shareholders&rsquo; Representative, at any time or times, without notice to such party or such party&rsquo;s consent,
may grant extensions of time, without limit as to the number or the aggregate period of such extensions, for the payment of any
principal and/or interest due hereon; and (iii) to the extent not prohibited by law, waives the benefit of any law or rule of law
intended for its advantage or protection as an obligor hereunder or in whole or in part, on account of any facts or circumstances
other than full and complete payment of all amounts due hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Usury
Laws</U>. It is the intent of the parties to comply with the usury law of the State of California (the &ldquo;Applicable Usury
Law&rdquo;). Accordingly, to the extent the Shareholders&rsquo; Representative and/or the Shareholders are not exempt from the
Applicable Usury Law, it is agreed that notwithstanding any provisions to the contrary in this Note, in no event shall this Note
or such documents require the payment or permit the collection of interest in excess of the maximum interest rate permitted by
the Applicable Usury Law (the &ldquo;Maximum Interest Rate&rdquo;), then in any such event (i) the provisions of this paragraph
shall govern and control, (ii) neither NMM nor any entity now or hereafter liable for the payment hereof shall be obligated to
pay the amount of such interest to the extent that it is in excess of the Maximum Interest Rate, (iii) any such excess which may
have been collected shall be either applied as a credit against the then unpaid principal amount hereof or refunded to NMM, at
the Shareholders&rsquo; Representative&rsquo;s option, and (iv) the effective rate of interest shall be automatically reduced to
the Maximum Interest Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Choice
of Law</U>. This Note shall be interpreted and enforced in accordance with the laws of the State of California, and shall be deemed
to have been executed and delivered in the State of California.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Time
is of the Essence</U>. Time is of the essence in the performance of each and every obligation under this Note to be performed by
NMM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Written
Modifications</U>. This Note may amended only by an agreement in writing signed by the parties against whom enforcement of any
waiver, change, modification or discharge is sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors
and Assigns</U>. This Note shall be binding upon and inure to the benefit of the parties hereto, and their respective successors
and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreement
to Perform Necessary Acts</U>. Each party agrees to perform any further acts and execute and deliver any further documents which
may be reasonably necessary or otherwise reasonably required to carry out the provisions of this Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Validity</U>.
If for any reason any clause or provision of this Note, or the application of any such clause or provision in a particular context
or to a particular situation, circumstance or person, should be held unenforceable, invalid or in violation of law by any court
or other tribunal, then the application of such clause or provision in contexts or to situations, circumstances or persons other
than that in or to which it is held unenforceable, invalid or in violation of law shall not be affected thereby, and the remaining
clauses and provisions hereof shall nevertheless remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Reciprocation</U>. The parties hereby acknowledge and agree that financial accommodations extended to NMM by the Shareholders hereunder
neither require nor are in any way contingent upon the admission, recommendation, referral or any other arrangement for the provision
of any item or service offered by the Shareholders&rsquo; Representative and/or the Shareholders or any of their respective affiliates,
to any of NMM&rsquo;s contractors, partners, employees or agents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement</U>. This Note constitutes the full and complete agreement and understanding between the parties hereto and shall supersede
any and all prior written and oral agreements concerning the subject matter contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
NMM has caused this Note to be duly executed as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>NMM</U>:</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 45%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">NETWORK MEDICAL MANAGEMENT, INC.</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>AGREED TO AND ACKNOWLEDGED</U></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>BY THE SHAREHOLDERS&rsquo;</U></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>REPRESENTATIVE</U>:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid"></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">KENNETH SIM, M.D.</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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