<SEC-DOCUMENT>0001144204-15-027527.txt : 20150505
<SEC-HEADER>0001144204-15-027527.hdr.sgml : 20150505
<ACCEPTANCE-DATETIME>20150505133824
ACCESSION NUMBER:		0001144204-15-027527
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20150430
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150505
DATE AS OF CHANGE:		20150505

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JOINT Corp
		CENTRAL INDEX KEY:			0001612630
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				900544160
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36724
		FILM NUMBER:		15831814

	BUSINESS ADDRESS:	
		STREET 1:		16767 N PERIMETER DRIVE
		STREET 2:		SUITE 240
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85260
		BUSINESS PHONE:		480 245 5960

	MAIL ADDRESS:	
		STREET 1:		16767 N PERIMETER DRIVE
		STREET 2:		SUITE 240
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85260
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v409457_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Washington, D.C. 20549</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; 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"><B>FORM 8-K</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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<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">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

<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; margin-bottom: 0pt; text-align: center">Date of report (date of earliest event reported):
April 30, 2015</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; 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"><B>THE JOINT CORP.</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></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: 33%; text-align: center">Delaware</TD>
    <TD STYLE="width: 34%; text-align: center">001-36724</TD>
    <TD STYLE="width: 33%; text-align: center">90-0544160</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other juris-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission file</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(IRS employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">diction of incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">identification number)</FONT></TD></TR>
</TABLE>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">16767 N. Perimeter Drive, Suite 240</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Scottsdale, AZ 85260</P>

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

<P STYLE="font: 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: center"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(480) 245-5960</P>

<P STYLE="font: 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-indent: 0.5in">Check the appropriate box below if the Form
8-K is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -63pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 2.01</B></TD><TD STYLE="text-align: justify"><B>Completion of Acquisition or Disposition of Assets</B></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; text-indent: 0.5in">On April 30, 2015, the Company completed
its repurchase of eight franchises in San Diego County, California (the &ldquo;Repurchase Transaction&rdquo;). In a related transaction,
the Company completed its termination of nine franchise agreements for franchises that were to be located in Los Angeles County,
California region (the &ldquo;Termination Transaction&rdquo;). The repurchase of eight franchises was from an entity affiliated
with the entity that owned the franchises terminated under the Termination Transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Repurchase Transaction was accomplished
pursuant to an Asset and Franchise Purchase Agreement (the &ldquo;Purchase Agreement&rdquo;) between the Company and San Diego
Joint Development, Inc., a California corporation (&ldquo;Seller&rdquo;), Stephanie McRae, and Elizabeth McRae. Seller was a franchisee
under franchise agreements with the Company. The transaction involved the repurchase of two operating franchises and six undeveloped
franchises from the Seller. The Company intends to operate the two operating franchises to manage two Joint clinics as Company-owned
franchises.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Termination Transaction was accomplished
pursuant to a Franchise Agreement Termination and Reinstatement Agreement (the &ldquo;Termination Agreement&rdquo;) between the
Company, Stephanie McRae, and South Bay Joint Development, Inc. (&ldquo;South Bay&rdquo;). The transaction involved the termination
of nine franchise agreements, all for undeveloped franchises and the reinstatement of one of the terminated franchise agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The total consideration for the Repurchase
Transaction and the Termination Transaction (collectively, the &ldquo;Transactions&rdquo;) was $631,000, $550,100 of which was
funded from the proceeds of the Company&rsquo;s recent initial public offering (IPO), and $89,900 of which was funded with a promissory
note.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing descriptions of the Transactions
do not purport to be complete and are qualified in their entirety by reference to the full texts of the Purchase Agreement and
the Termination Agreement, copies of which are filed as Exhibits 2.1 and 2.2, respectively, to this Current Report on Form 8-K
and incorporated herein by reference.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(a) <B>Financial Statements of Businesses
Acquired</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The financial information required by this
item, if any, with respect to the Transactions will be filed as soon as practicable and in any event within the timeframe required
by Form 8-K.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(b) <B>Pro Forma Financial Information</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The pro forma financial information required
by this item, if any, with respect to the Transactions will be filed as soon as practicable and in any event within the timeframe
required by Form 8-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(d) <B>Exhibits</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Number</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: black 1pt solid"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">2.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Asset and Franchise Purchase Agreement dated as of April 30,
        2015, between The Joint Corp., San Diego Joint Development, Inc., Stephanie McRae, and Elizabeth McRae.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">2.2</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Franchise Agreement Termination and Reinstatement Agreement dated as of as of April 30, 2015, by The Joint Corp., Stephanie McRae and South Bay Joint Development, Inc.</TD></TR>
</TABLE>

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

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<P STYLE="font: 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: center"><B>Signature</B></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: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Date: May 5, 2015.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><B>The Joint Corp.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By:&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">/s/ John B. Richards</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">John B. Richards</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Executive Officer</TD></TR>
</TABLE>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>


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<P STYLE="font: 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: center"><B>EXHIBIT INDEX</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Number</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: black 1pt solid"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">2.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Asset and Franchise Purchase Agreement dated as of April 30,
        2015, between The Joint Corp., San Diego Joint Development, Inc., Stephanie McRae, and Elizabeth McRae.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">2.2</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Franchise Agreement Termination and Reinstatement Agreement dated as of as of April 30, 2015, by The Joint Corp., Stephanie McRae and South Bay Joint Development, Inc.</TD></TR>
</TABLE>
<P STYLE="font: 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 0pt 5.5in"></P>


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<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>v409457_ex2-1.htm
<DESCRIPTION>EXHIBIT 2.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.5in; text-align: right"><B>Exhibit 2.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.5in; text-align: right"><B>&nbsp;</B></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: 0pt 0; text-align: center"><B>ASSET AND FRANCHISE PURCHASE AGREEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIS ASSET AND FRANCHISE PURCHASE AGREEMENT
(&ldquo;<U>Agreement</U>&rdquo;) is made and entered into on April 30, 2015, by and between The Joint Corp., a Delaware corporation
(&ldquo;<U>TJC</U>&rdquo;), San Diego Joint Development, Inc., a California corporation (&ldquo;<U>Seller</U>&rdquo;), Stephanie
McRae (&ldquo;<U>Stephanie</U>&rdquo; or a &ldquo;<U>Shareholder</U>&rdquo;), and Elizabeth McRae (&ldquo;<U>Elizabeth</U>&rdquo;
or a &ldquo;<U>Shareholder</U>,&rdquo; and together with Stephanie, the &ldquo;<U>Shareholders</U>&rdquo;).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A.&#9;Seller is a franchisee under franchise
agreements with TJC for eight Joint franchises (Numbers 31011 (&ldquo;Escondido&rdquo;), 31012 (&ldquo;Mira Mesa&rdquo;), 31054
(Vista), 31057 (Clairmont Mesa), 31058 (San Marcos), 31126 (Pacific Beach), 31127 (Tierra Santa) and 31128 (Bonita) (the &ldquo;<U>Subject
Franchises</U>&rdquo;). The parties intend that Subject Franchise numbers 31011 and 31012 (the &ldquo;<U>Continuing Franchises</U>&rdquo;)
will remain open after the consummation of the transactions contemplated herein, and that Subject Franchise numbers 31054, 31057,
31058, 31126, 31127 and 31128 (the &ldquo;<U>Terminating Franchises</U>&rdquo;) will be terminated immediately upon the consummation
of the transactions contemplated hereunder. For purposes of clarity, any reference to a &ldquo;Subject Franchise,&rdquo; a &ldquo;Continuing
Franchise&rdquo; or a &ldquo;Terminating Franchise&rdquo;, unless the context clearly requires otherwise, shall include both the
applicable franchise agreement and, if applicable, the business being operated under the applicable franchise agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.&#9;Seller will sell
to TJC and TJC will purchase from Seller all of Seller&rsquo;s interest in the Subject Franchises.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.&#9;The Shareholders
together own all of the issued and outstanding stock of the Seller;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the
mutual agreements, covenants and undertakings herein contained and other valuable consideration, the adequacy of which is acknowledged
by all parties, the parties hereby agree as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Purchase and Sale</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 66pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#9;Except as provided
herein, at the Closing (as hereinafter defined) of the transactions contemplated hereby, Seller shall sell, assign, transfer and
deliver to TJC, and TJC shall purchase and accept from Seller, the Assets, free and clear of any liens, claims (including, without
limitation, title claims and claims of taxing authorities), encumbrances, pledges, security interests or charges of any kind whatsoever,
and shall assume the obligations as specifically stated herein of the Assumed Contracts and Existing Leases (as those terms are
defined in subsections 1(b)(xi) and (xii), respectively), for the purchase price set forth in Section 4 hereof.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">For purposes of this Agreement, &ldquo;<U>Assets</U>&rdquo; shall mean:</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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;the
franchise agreements between Seller and TJC for the Subject Franchises, as more particularly described in <B>Schedule 1(b)(i)</B>
attached to and made a part hereof, without any transfer fees;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&#9;all of Seller&rsquo;s
interest in equipment, machinery, tools, maintenance supplies, office equipment, leasehold improvements, furniture, fixtures, inventories
and supplies and other similar items of tangible personal property (together the &ldquo;<U>Personal Property</U>&rdquo;) used by
Seller in the Subject Franchises which is more particularly listed and described in <B>Schedule 1(b)(ii) </B>attached hereto and
made a part hereof;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&#9;all of Seller&rsquo;s
interest in any membership agreements, prepaid services packages and other agreements or arrangements Seller has made with patients
of the Subject Franchises, together with any deposits or prepayments made by any patients covered by such agreements or arrangements
to the extent related to services to be performed after Closing;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iv)&#9;the trademarks, trade
names, copyrights and all other intellectual property rights of Seller associated with the Subject Franchises and all of Seller&rsquo;s
goodwill attributable to the Subject Franchises;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(v)&#9;all telephone numbers and
domain names associated with the Subject Franchises;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vi)&#9;copies of all medical
records with respect to patients of the Subject Franchises and all documents and records in the possession of Seller pertaining
to patients and employees of the Subject Franchises;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vii)&#9;all rights of Seller
in and under any and all management services agreements pertaining to the Continuing Franchises, as more particularly described
in <B>Schedule 1(b)(vii)</B> attached to and made a part hereof;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(viii)&#9;intentionally omitted;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ix)&#9;intentionally omitted;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(x)&#9;to the extent transferable,
all licenses, government approvals and permits and all other approvals and permits relating to the Subject Franchises;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(xi)&#9;all of Seller&rsquo;s
interest as tenant (including leasehold improvements) under its leases for the premises occupied by the Continuing Franchises (&ldquo;Existing
Leases&rdquo;), copies of which are attached hereto as <B>Exhibits 1 and 2 </B>and made a part hereof; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(xii)&#9;the agreements and contracts
listed on <B>Schedule 1(b)(xii), </B>which TJC expressly agrees to assume (together, the &ldquo;<U>Assumed Contracts</U>&rdquo;);</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.5pt"></TD><TD STYLE="width: 34.5pt"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Excluded Assets</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding anything to the contrary
contained in this Agreement, it is expressly acknowledged by TJC that Seller will not be conveying to TJC (a) Seller&rsquo;s interest
in or under any contracts or agreements pertaining to the Terminating Franchises, including but not limited to Seller&rsquo;s interest
as a tenant under its leases (if any), management services agreements (if any), stock transfer agreements (if any), medical direction
agreements; (b) any cash, cash equivalents, working capital, or accounts receivable (other than accounts receivable under membership
agreements or other arrangements described in Section 1(b)(iii) above, for periods after Closing), (c) any of the proceeds of the
transaction described in this Agreement, (d) the items listed on the attached <B>Schedule 2</B> and (e) any other assets, properties
or rights of Seller owned or used by Seller but not used in or directly related to the Subject Franchises (collectively, the &ldquo;<U>Excluded
Assets</U>&rdquo;).</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>No Assumption of Liabilities</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as expressly provided in this Agreement,
TJC shall not assume any debts, liabilities or obligations of Seller or its shareholders, members, affiliates, officers, employees
or agents of any nature, whether known or unknown, fixed or contingent, including, but not limited to, debts, liabilities or obligations
with regard or in any way relating to any contracts (including, without limitation, any employee agreements), leases for real or
personal property, trade payables, tax liabilities, disclosure obligations, product liabilities, liabilities to any regulatory
authorities, liabilities relating to any claims, litigation or judgments, any pension, profit-sharing or other retirement plans,
any medical, dental, hospitalization, life, disability or other benefit plans, any stock ownership, stock purchase, deferred compensation,
performance share, bonus or other incentive plans, or any other similar plans, agreements, arrangements or understandings which
Seller, or any of its affiliates, maintain, sponsor or are required to make contributions to, in which any employee of Seller participates
or under which any such employee is entitled, by reason of such employment, to any benefits (collectively the (&ldquo;<U>Excluded
Liabilities</U>&rdquo;). For the purpose of clarity, any liability under any lease for real property for a Subject Franchise, whether
or not assumed by TJC, for the period before Closing, shall be an Excluded Liability, and any liability under any lease, commitment
letter, rental agent agreement or the like related to any real property used or being considered for use by a Terminating Franchise,
shall be an Excluded Liability.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>Payment of Purchase Price</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#9;The purchase
price to be paid by TJC for the Assets (the &ldquo;Purchase Price&rdquo;) is $559,000, subject to adjustment as set forth in Section
4(d);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#9;TJC will pay
to Seller the amount $478,100 in cash at Closing;</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: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&#9;At Closing,
TJC shall deliver to Seller a promissory note (the &ldquo;<U>Note</U>&rdquo;), a copy of which is attached hereto as <B>Exhibit
3</B>, in the principal amount of $80,900, with interest on the unpaid balance at the rate of 4.25% per year. Except as provided
herein, the principal amount of the Note (and the interest thereon) shall be payable in two equal installments on the dates that
are six months and 12 months after Closing. Amounts due under the Note may be offset pursuant to Section 3 of the Note. If Seller
and the Shareholders shall have fully performed their Section 25(b) Duties (as hereinafter defined), TJC shall prepay the amount
of $25,000 (and the interest thereon), subject to offsets pursuant to Section 3 of the Note,120 days after Closing; and</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: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&#9;Within thirty
(30) days after Closing, the Purchase Price shall be adjusted by appropriate prorations for rent, security deposits, Assumed Contracts,
management services agreements, state and local real estate taxes and transfer taxes, sales tax, service and utility contracts,
payroll and employee related payments in respect of periods prior to Closing (the &ldquo;<U>Adjustments</U>&rdquo;). The Parties
shall cooperate to determine the amounts of the Adjustments, and shall agree to such amounts within thirty (30) days after Closing.
The agreed amount of the Adjustments shall be documented by a written agreement signed by the parties hereto (the &ldquo;Adjustment
Agreement&rdquo;). In the event that the parties agree that the Adjustments in favor of Seller are greater than the Adjustments
in favor of TJC, TJC shall remit the net amount of Adjustments to Seller within thirty (30) days of the effectiveness of the Adjustment
Agreement. In the event that the parties agree that the Adjustments in favor of TJC are greater than the Adjustments in favor of
Seller, the principal amount of the Note delivered in accordance with Section 4(c) shall be reduced by the net amount of the Adjustments,
effective the day after the Adjustment Agreement is effective.</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: 0pt 0"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>Closing</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the satisfaction or waiver of
the conditions described in Sections 9 and 10 the closing of the transactions described herein shall take place as soon as practicable,
but no later than May 31, 2015, at such time as the parties agree, and shall occur at the offices of TJC. The date on which the
Closing takes place is referred to in this Agreement as the &ldquo;<U>Closing Date</U>.&rdquo; At the Closing, Seller shall deliver
such bills of sale, assignments, certificates and other documents and instruments as may reasonably be requested by TJC to carry
out the transfer and assignment to TJC of the Assets. Following the Closing, the parties shall cooperate fully with each other
and shall make available to the other, as reasonably requested and at the expense of the requesting party, and to any taxing or
regulatory authority, all information, records or documents relating to tax obligations and regulatory compliance matters of Seller
for all periods on or prior to the Closing, and shall preserve all such information, records and documents until the expiration
of any applicable statute of limitations and extensions thereof.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>Representations and Warranties of Seller and the Shareholders</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Seller and each Shareholder hereby jointly
and severally represent and warrant to TJC as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;<U>Organization</U>. Seller is a
corporation duly organized and validly subsisting under the laws of the State of California, and Seller has full power and authority
to conduct its business as it is now being conducted, and to execute, deliver and perform this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;<U>Authority</U>. Seller is not a
party to, subject to, or bound by any agreement, judgment, order, writ, injunction, or decree of any court or governmental body
that prevents or impairs the carrying out of this Agreement. The execution, delivery and performance of this Agreement and all
other documents, instruments and agreements contemplated hereby have been duly authorized by all required corporate action of Seller.
All other actions (including all action required by state law and by the organizational documents of Seller) necessary to authorize
the execution, delivery and performance by Seller of this Agreement, the bills of sale transferring the Assets, the assignments
in connection herewith and the other documents, instruments and agreements necessary or appropriate to carry out the transactions
herein contemplated, have been taken by Seller. Upon the execution of this Agreement and the other documents and instruments contemplated
hereby by Seller and the Shareholders (and assuming the due execution and delivery by the other parties), this Agreement and such
other documents and instruments will be the valid and legally binding obligations of Seller and the Shareholders, enforceable against
each of them in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium
and similar laws affecting creditors&rsquo; rights generally, and subject, as to enforceability, to general principles of equity,
including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in
a proceeding at law or in equity).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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)&#9;<U>No Consent
or Approval Required</U>. Except as set forth on <B>Schedule 6(c)</B>, no authorization, consent, approval or other order of, declaration
to or filing with any third party, including any governmental body or authority is required for the approval or consummation by
Seller or the Shareholders of the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&#9; <U>Taxes</U>.
Seller has filed when due in accordance with all applicable laws (or properly and timely filed an extension therefor) all tax returns
required under applicable statutes, rules or regulations to be filed by it. As of the time of filing, such returns were accurate
and complete in all material respects. All taxes due with respect to Seller and the Assets, and all additional assessments received,
have been paid. Seller is not delinquent in the payment of any such tax and has not requested any extension of time within which
to file any tax return, which return has not since been filed. There are no federal, state, local or other tax liens outstanding
on any of the Assets being sold hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(e)&#9;<U>Title to
and Condition of Assets</U>. Seller has good and marketable title to (or, with respect to any Assets that are leased, a valid leasehold
interest in) all of the Assets to be acquired by TJC at the Closing, free from any liens, adverse claims, security interest, rights
of other parties or like encumbrances of any nature. The Assets consisting of physical property are in good condition and working
order, normal wear and tear excepted, and function properly for their intended uses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(f)&#9;<U>Compliance
with Laws</U>. Neither Seller nor any of the Subject Franchises is in violation of, nor are they or either of them subject to any
material liability in respect of, any federal, state, county, township, city or municipal laws, codes, regulations or ordinances
(including without limitation those relating to environmental protection, health, hazardous or toxic substances, fire or safety
hazards, occupational safety, labor laws, employment discrimination, subdivision, building or zoning) with respect to the conduct
of the Subject Franchises, nor has Seller received any notices of investigation or violation pertaining to any such matters. Seller
has, and all professional employees or agents of Seller have, all licenses, franchises, permits, authorizations or approvals from
all governmental or regulatory authorities required for the conduct of the Subject Franchises and neither Seller nor the professional
employees or agents of Seller have violated any such license, franchise, permit, authorization or approval or any terms or conditions
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(g)&#9;<U>Litigation</U>.
There is no action, suit or proceeding pending, threatened against or affecting the Assets, or relating to or arising out of, the
ownership or operation of the Assets, including claims by employees of the Subject Franchises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(h)&#9;<U>Employees</U>.
<B>Schedule 6(h)</B> attached hereto contains a complete and correct list of the name, position, current rate of compensation and
any vacation or holiday pay and any other compensation arrangements or fringe benefits, of each current employee of Seller who
is directly employed in the Subject Franchises.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&#9;<U>Contracts</U>.
Seller has delivered to TJC copies of any and all material contracts, leases, agreements, software licensing agreements, or commitments
with respect to the Assets or the Subject Franchises. Except as set forth in <B>Schedule 6(i)</B>, no consent or approval of any
third party is required for the assignment to TJC of any contracts that TJC is assuming pursuant to Sections 1(b)(iii), (vi), (vii),
(viii), (ix), (xi) and (xii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(j)&#9;<U>Financial
Statements</U>. Seller has delivered to TJC the financial statements for the Subject Franchises as of and for the 12 months ended
December 31, 2013 and December 31, 2014, and as of and for the three months ended March 31, 2014 (collectively, the &ldquo;<U>Financial
Statements</U>&rdquo;). The Financial Statements fairly present and will fairly present the financial position and results of operations
of the Subject Franchises as of and for the periods presented consistent with past practice, which does not necessarily conform
to United States generally accepted accounting practices.</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: 0pt 0"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 30pt"><B>7.</B></TD><TD STYLE="text-align: justify"><B>TJC&rsquo;s Representations and Warranties</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">TJC represents and warrants to Seller and
the Shareholders as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(a)&#9;<U>Organization
of TJC</U>. TJC is a corporation duly organized and validly subsisting under the laws of the state of Delaware, and TJC has full
power and authority to conduct its business as it is now being conducted, and to execute, deliver and perform this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#9;<U>Authorization</U>.
TJC is not a party to, subject to or bound by any agreement, judgment, order, writ, injunction, or decree of any court or governmental
body that prevents or impairs the carrying out of this Agreement. The execution, delivery and performance of this Agreement and
all other documents, instruments and agreements contemplated hereby have been duly authorized by TJC&rsquo;s Board of Directors.
All other actions (including all action required by state law and by the organizational documents of TJC) necessary to authorize
the execution, delivery and performance by TJC of this Agreement, the Note, the bill of sale transferring the Assets, the assignments
in connection herewith and the other documents, instruments and agreements necessary or appropriate to carry out the transactions
herein contemplated, have been taken by TJC. Upon the execution of this Agreement and the other documents and instruments contemplated
hereby by TJC, this Agreement and such other documents and instruments will be the valid and legally binding obligations of TJC,
enforceable against it in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium and similar laws affecting creditors&rsquo; rights generally, and subject, as to enforceability, to general principles
of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is
sought in a proceeding at law or in equity).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&#9;<U>No Consent
or Approval Required</U>. No authorization, consent, approval or other order of, declaration to or filing with any third party,
including any governmental body or authority, including, without limitation, with respect to environmental matters, is required
for the consummation by TJC of the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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)&#9;<U>No Violation
of Other Agreements</U>. Neither the execution and delivery of this Agreement nor compliance with the terms and conditions of this
Agreement by TJC will breach or conflict with any of the terms, conditions or provisions of any agreement or instrument to which
TJC is or may be bound or constitute a default thereunder or result in a termination of any such agreement or instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(e)&#9;<U>Financial
Capability</U>. TJC will have at Closing, sufficient internal funds available to pay the Purchase Price and any fees or expenses
incurred by TJC in connection with the transactions contemplated hereby.</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: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&#9;<U>Compliance
with Laws</U>. TJC is not in violation of, or subject to any liability in any material respect of, any federal, state, county,
township, city or municipal laws, codes, regulations or ordinances with respect to the conduct of its business.</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: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&#9;<U>Litigation</U>.
There is no action, suit or proceeding pending or threatened, against TJC which would prevent TJC from effecting the transactions
contemplated by this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Pre-Closing Events</B></TD></TR></TABLE>

<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">(a)&#9;<U>General</U>.
Pending Closing, the Parties shall use commercially reasonable efforts to take all actions that may be necessary to close the Transaction
in accordance with the terms of this Agreement (but TJC shall not be required to waive any of the TJC Closing Conditions, and Seller
and the Shareholders shall not be required to waive any of the Seller Closing Conditions).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#9;<U>Conduct of
Business</U>. Pending Closing, Seller and the Shareholders shall:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;conduct
the business of the Continuing Franchises in the ordinary course and use commercially reasonable efforts, in consultation with
(but without being bound by) TJC&rsquo;s transition management team personnel, to maintain and grow the business of the Continuing
Franchises and to preserve their goodwill and advantageous relationships with patients, employees, suppliers and other persons
having business dealings with the Subject Franchises;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;conduct
the business of the Terminating Franchises, if any such Terminating Franchises have business operations, in the ordinary course
until they are closed and, in consultation with (but without being bound by) TJC&rsquo;s transition management team personnel,
to use commercially reasonable efforts to preserve the Terminating Franchises&rsquo; goodwill and advantageous relationships with
patients, employees, suppliers, other TJC franchises and other persons having business dealings with the Terminating Franchises,
including developing plans to reassign the Terminating Franchises&rsquo; patients to alternative TJC facilities; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&#9;not
take any affirmative action that results in the occurrence of an event of default under any contract or agreement to which Seller
is a party and take any reasonable action within Seller&rsquo;s control that would avoid the occurrence of such default.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><U>Access to Information</U>. Pending Closing, Seller and the Shareholders shall:</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;cause
Seller to afford TJC and its representatives (including its lawyers, accountants, consultants and the like) reasonable access during
normal business hours, but without unreasonable interference with operations, to the Seller&rsquo;s books and records and other
documents relating to the Subject Franchises;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;respond
to reasonable inquires by TJC and its representatives regarding Seller;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&#9;cause
Seller to furnish TJC and its representatives with all information and copies of all documents concerning Seller that TJC and its
representatives reasonably request; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&#9;otherwise
cooperate with TJC in its due diligence activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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)&#9;<U>Notice of
Developments</U>. Pending Closing, Seller and the Shareholders shall promptly give Notice to TJC of:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;any
fact or circumstance of which Seller or a Shareholder becomes aware that causes or constitutes a material inaccuracy in or material
breach of any of Seller&rsquo;s or a Shareholders&rsquo; representations and warranties in Article 6 as of the date of this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;any
fact or circumstance of which Seller or a Shareholders becomes aware that would cause or constitute a material inaccuracy in or
material breach of any of Seller&rsquo;s or the Shareholders&rsquo; representations and warranties in Article 6 if those representations
and warranties were made on and as of the date of occurrence or discovery of the fact or circumstance; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&#9;the
occurrence of any event of which Seller or a Shareholder becomes aware that reasonably could be expected to make satisfaction of
any TJC Closing Condition impossible or unlikely.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(e)&#9;<U>Supplements
to Schedules</U>. Pending Closing, Seller may supplement or correct the Schedules to this Agreement as necessary to insure their
completeness and accuracy. No supplement or correction to any Schedule or Schedules to this Agreement shall be effective, however,
to cure any material breach or inaccuracy in any of the representations and warranties; but if TJC does not exercise its right
to terminate this Agreement under Section 12 and closes the transaction, the supplement or correction shall constitute an amendment
of the Schedule or Schedules to which it relates for all purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.5pt; text-align: justify; text-indent: -34.5pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 34.5pt"><B>9.</B></TD><TD STYLE="text-align: justify"><B>TJC Closing Conditions</B></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; text-indent: 0.5in">Except as provided herein, TJC&rsquo;s obligation
to close the transaction is subject to the satisfaction of each of the following conditions (the &ldquo;<U>TJC Closing Conditions</U>&rdquo;)
at or prior to Closing:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;Seller&rsquo;s and the Shareholders&rsquo;
representations and warranties in Section 6, as qualified or limited by any exceptions in the Schedules to Section 6, are true
and correct in all material respects on the Closing Date as if made at and as of Closing (other than representations and warranties
that address matters as of a certain date, which were true and correct in all material respects as of that date);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;Seller and the Shareholders have
executed and delivered all of the documents and instruments that they are required to execute and deliver or enter into prior to
or at Closing, and have performed, complied with or satisfied in all material respects all of the other obligations, agreements
and conditions under this Agreement that they are required to perform, comply with or satisfy at or prior to Closing;</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: 0pt 0; text-indent: 0.5in">(c)&#9;no material adverse change in the
Seller&rsquo;s assets, financial condition, operations, operating results or prospects has occurred since the date of this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&#9;no suit has been initiated or threatened
by a third party since the date of this Agreement that challenges or seeks damages or other relief in connection with the transaction
or that could reasonably have the effect of preventing, delaying, making illegal or otherwise interfering with the transaction;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Seller has obtained and delivered to TJC all consents listed on Schedules 6(c) and 6(i);</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&#9;Seller has obtained an estoppel letter
from the counterparty to each of the management services agreements described in Schedule 1(b)(vii), for the Continuing Franchises,
in a form reasonably acceptable to TJC;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)&#9;Seller has obtained an estoppel letter
under each lease attached hereto as <B>Exhibits 1 and 2</B>, relating to the premises of the Continuing Franchises, in a form reasonably
acceptable to TJC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)&#9;[Intentionally left blank.]</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(i)&#9;[Intentionally left blank.]</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(j)&#9;The Seller and the Shareholders have
executed and delivered, in a form reasonably acceptable to TJC, a release of all claims against TJC, its officers, directors, employees,
agents, successors and assigns, arising prior to the Closing; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(k)&#9;Seller has delivered payoff letters
and releases of security interests or liens from parties claiming a security interest, whether or not perfected, in any of the
Assets.</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: 0pt 0; text-indent: 0.5in">TJC may waive any condition specified in
this Section 9 by a written waiver delivered to Seller or a Shareholder at any time prior to or at Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.5pt; text-align: justify; text-indent: -30pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 30pt"><B>10.</B></TD><TD STYLE="text-align: justify"><B>Seller&rsquo;s Closing Conditions</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Seller&rsquo;s obligation to close the transaction
is subject to the satisfaction of each of the following conditions (the &ldquo;Seller Closing Conditions&rdquo;) at or prior to
Closing:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;TJC&rsquo;s representations and warranties
in Section 7 were true and correct in all material respects as of the date of this Agreement and are true and correct on the Closing
Date as if made at and as of Closing;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;TJC has obtained all necessary approvals
and consents to acquire and operate the businesses and has executed and delivered all of the documents and instruments that it
is required to execute and deliver or enter into prior to or at Closing, and has performed, complied with or satisfied in all material
respects all of the other obligations, agreements and conditions under this Agreement that it is required to perform, comply with
or satisfy prior to or at Closing;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&#9;no suit has been initiated or threatened
by a third party since the date of this Agreement that challenges or seeks damages or other relief in connection with the transaction
or that could seeks to prevent the transaction, and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&#9;TJC has executed and delivered, in
a form reasonably acceptable to Seller, a release of all claims against Seller, its officers, directors, employees, agents, successors
and assigns, arising prior to the Closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Seller may waive any condition specified
in this Section 10 by a written waiver delivered to TJC at any time prior to or at Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>11.</B></TD><TD STYLE="text-align: justify"><B>Non-Competition; Non-Solicitation; Confidentiality; Non-Disparagement</B></TD></TR></TABLE>

<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">(a)&#9;<U>Definitions.</U>
Wherever used in this Section 11<I>, </I>the term &ldquo;TJC&rdquo; shall refer to TJC and any affiliate, subsidiary, or any successor
or assign of TJC. Wherever used in this Section, the phrase &ldquo;directly or indirectly&rdquo; includes, but is not limited to,
acting, either personally or as principal, owner, shareholder, member, employee, independent contractor, agent, manager, partner,
joint venturer, consultant, or in any other capacity or by means of any corporate or other device, or acting through the spouse,
children, parents, brothers, sisters, or any other relatives, friends, invitees, agents, or associates of any of the undersigned
parties. Wherever used in this Section, the term &ldquo;employees&rdquo; shall refer to employees of TJC; any affiliate, subsidiary,
or any successor or assign of TJC; and any franchisee of TJC existing as of the date of this Agreement and, to the extent allowable
by law, any other person that has been an employee (as defined above) in the twelve (12) months preceding the date of this Agreement.
Whenever used in this Section, the term &ldquo;Confidential Information&rdquo; shall be defined as<I> </I>provided in Section 9
of Seller&rsquo;s franchise agreements with TJC, which provisions are hereby incorporated by reference.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#9;<U>Consideration</U>.
The undersigned parties acknowledge that consideration for this Agreement has been provided and is adequate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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)&#9;<U>Need for
this Agreement</U>. The undersigned parties recognize that in the highly competitive business in which TJC and its affiliates and
franchisees are engaged, preservation of Confidential Information is crucial and personal contact is important in securing new
franchisees and employees, and retaining the goodwill of present franchisees, employees, customers, and suppliers. Personal contact
is a valuable asset and is an integral part of protecting the business of TJC. Seller and the Shareholders recognize that each
of them has had substantial contact with TJC&rsquo;s employees, customers, consultants, vendors and suppliers and Confidential
Information. For that reason, Seller and the Shareholders may be in a position to take for his, her or its benefit the goodwill
TJC has with its employees and customers (patients) and Confidential Information now or in the future. If Seller or either of the
Shareholders at any time after Closing takes advantage of such Confidential Information or goodwill for their own benefit, then
the competitive advantage that TJC has created through its efforts and investment will be irreparably harmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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)&#9;<U>Non-Competition
with TJC</U>. Seller and the Shareholders agree that, for thirty six (36) months following the date of Closing, neither Seller
nor either of the Shareholders, will have any direct or indirect interest (e.g., through a spouse) as a disclosed or beneficial
owner, investor, partner, director, officer, employee, consultant, representative or agent, or in any other capacity, in any Competitive
Business located or operating within twenty-five (25) miles of any Joint chiropractic clinic currently or within such 36 month
period owned by TJC or operated or managed by a TJC franchisee. The term &ldquo;Competitive Business&rdquo; means any business
which derives more than Ten Thousand Dollars ($10,000.00) of revenue per year from the performance of chiropractic services, or
any business which grants franchises or licenses to others to operate such a business, with the sole exception of (i) a regional
developer license granted by TJC or (ii) a franchise operated under a franchise agreement with TJC including, without limitation,
the Culver City Joint location.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(e)&#9;<U>Non-Solicitation
of TJC&rsquo;s Employees</U>. Seller and each Shareholder agree that for twelve (12) months after the date of this Agreement, it,
he or she will not directly or indirectly, without the written consent of TJC: (a) induce, canvas, solicit, or request or advise
any employees, suppliers, vendors or consultants of TJC, or any TJC franchisee or affiliated professional corporation to accept
employment with any person, firm, or business that competes with any business of TJC or any TJC franchisee or affiliated professional
corporation; or (b) induce, request, or advise any employee of TJC or TJC franchisee or affiliated professional corporation to
terminate such employee&rsquo;s relationship with TJC or any TJC franchisee or affiliated professional corporation; or (c) disclose
to any other person, firm, partnership, corporation or other entity, the names, addresses or telephone numbers of any of the employees
of TJC or any TJC franchisee or affiliated professional corporation, except as required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(f)&#9;<U>Non-solicitation
of TJC&rsquo;s Customers (Patients)</U>. Seller and each Shareholder agrees that for thirty six (36) months after the date of this
Agreement, it, he or she will not directly or indirectly: (a) induce, canvas, solicit, or request or advise any customers of TJC
or any TJC franchisee or affiliated professional corporation to become customers of any person, firm, or business that competes
with any business of TJC or any TJC franchisee or affiliated professional corporation; or (b) induce, request or advise any customer
of TJC or any TJC franchisee or affiliated professional corporation to terminate or decrease such customer&rsquo;s relationship
with TJC or any TJC franchisee or affiliated professional corporation; or (c) disclose to any other person, firm, partnership,
corporation or other entity, the names, addresses or telephone numbers of any of the customers of TJC or any TJC franchisee or
affiliated professional corporation, except as required by law.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(g)&#9;<U>Confidential
Information</U>. Seller and each Shareholder agrees at all times following the date of this Agreement, to hold the Confidential
Information in the strictest confidence and not to use such Confidential Information for Seller&rsquo;s or any Shareholder&rsquo;s
personal benefit, or the benefit of any other person or entity other than TJC, or disclose it directly or indirectly to any person
or entity without TJC&rsquo;s express authorization or written consent; provided, however, that Seller and each Shareholder may
disclose Confidential Information to their legal and financial advisors who have confidentiality obligations to Seller or the Shareholder,
as the case may be. Seller and the Shareholders fully understand the need to protect the Confidential Information and all other
confidential materials and agree to use all reasonable care to prevent unauthorized persons from obtaining access to Confidential
Information at any time.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(h)</TD><TD STYLE="text-align: justify"><U>Nondisparagement</U>.</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; text-indent: 0.5in">(i) Each of Seller, Elizabeth and Stephanie
agree that they will not at any time, directly or indirectly, orally, in writing or through any medium (including, but not limited
to, the press or other media, computer networks or bulletin boards, or any other form of communication) disparage, defame, or otherwise
damage or assail the reputation, integrity or professionalism of TJC or any of its officers, directors, employees or agents.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) TJC agrees that it will not at any time,
directly or indirectly, orally, in writing or through any medium (including, but not limited to, the press or other media, computer
networks or bulletin boards, or any other form of communication) disparage, defame, or otherwise damage or assail the reputation,
integrity or professionalism the of Seller or any of Seller&rsquo;s officers, directors, employees or agents. Nothing herein shall
prohibit TJC from making disclosures which in its reasonable judgment are required in order to comply with applicable laws, including
but not limited to the federal and state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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">(i)&#9;<U>Tolling</U>.
To ensure that TJC will receive the full benefit of this Section 11, the provisions of Subsections (d), (e) and (f) of this Section
11 shall be extended by a length of time equal to (i) the period during which Seller or a Shareholder is in violation of Seller
or the Shareholder&rsquo;s agreements under such Subsections, and (ii) without duplication, any period during which litigation
that TJC institutes to enforce the Seller or a Shareholder&rsquo;s agreements under such Subsections is pending (to the extent
that Seller or such Shareholder is in violation of Seller&rsquo;s or Shareholder&rsquo;s agreements under such Subsections during
this period).</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 30pt"><B>12.</B></TD><TD STYLE="text-align: justify"><B>Termination</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;This Agreement may be terminated
by TJC, upon notice to Seller and the Shareholders, if prior to or at Closing:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&#9;Seller
or any Shareholder defaults in the performance of any of their material obligations under this Agreement and the default is not
cured within 10 business days after TJC gives notice of the default to Seller and the Shareholders; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&#9;any TJC Closing Condition
is not satisfied as of May 31, 2015 or satisfaction of any TJC Closing Condition is or becomes impossible (other than as a result
of TJC&rsquo;s breach of or failure to perform its obligations under this Agreement), and TJC does not waive satisfaction of the
condition; or</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&#9;Closing does not occur
on or before May 31, 2015 (other than as a result of TJC&rsquo;s breach of or failure to perform its obligations under this Agreement).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;This Agreement may be terminated
by Seller or the Shareholders, upon notice to TJC, if prior to or at Closing:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&#9;TJC defaults in the performance
of any of its material obligations under this Agreement and the default is not cured within 10 Business Days after Seller or a
Shareholder gives notice of the default to TJC;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&#9;any Seller Closing Condition
is not satisfied as of May 31, 2015 or satisfaction of any Seller Closing Condition is or becomes impossible (other than as a result
of Seller&rsquo;s or Shareholders&rsquo; breach of or failure to perform their obligations under this Agreement) and Seller does
not waive satisfaction of the condition; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&#9;Closing has not occurred
by May 31, 2015 (other than as a result of Seller&rsquo;s or any Shareholders&rsquo; breach of or failure to perform their obligations
under this Agreement); or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&#9;This Agreement may be terminated
by the written agreement of the parties.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&#9;The right of termination under this
Section 12 is in addition to any other rights that a party may have under this Agreement or otherwise, and a party&rsquo;s exercise
of its right of termination shall not be considered an election of remedies. Notwithstanding the termination of this Agreement
pursuant to this Section 12, the parties&rsquo; confidentiality obligations under Section 11(g) shall survive termination and continue
indefinitely.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>13.&#9;Indemnification of TJC</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;Subject to Sections 15 and 16, Seller
and the Shareholders agree, jointly and severally, to indemnify TJC against and hold TJC harmless from:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&#9;any loss, liability, damage,
cost or expense, including reasonable attorneys&rsquo; fees and cost of investigation (&ldquo;Loss&rdquo;) that TJC may suffer
or incur that is caused by, arises out of or relates to any material inaccuracy in or breach of any representation and warranty
by Seller or a Shareholder in Section 6 of this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&#9;any Loss that TJC may
suffer or incur that is caused by, arises out of or relates to Seller&rsquo;s or a Shareholder&rsquo;s breach of or failure to
perform any of their obligations in this Agreement in any material respect; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii) &#9;any Loss that TJC may
suffer or incur that is caused by, arises out of an Excluded Liability.&#9;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;The benefit of the indemnification
obligations of Seller and the Shareholders under this Section 13 shall extend to the respective officers, directors, employees
and agents of TJC and its affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>14.</B>&#9;<B>Indemnification of Seller and the
Shareholders</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;Subject to Sections 15 and 16, TJC
agrees to indemnify Seller and the Shareholder against and hold each of them harmless from:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&#9;any Loss that Seller or
the Shareholder may suffer or incur that is caused by, arises out of or relates to any material inaccuracy in or breach of any
representation and warranty by TJC in Section 7 of this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&#9;any Loss that Seller or
the Shareholder may suffer or incur that is caused by, arises out of or relates to TJC&rsquo;s breach of or failure to perform
any of its obligations in this Agreement in any material respect; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&#9;any Loss that Seller
or the Shareholder may suffer or incur that is caused by, arises out of or relates to TJC&rsquo;s operation of the Continuing Franchise
after Closing, including without limitation the Assumed Contracts and lease agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 40.5pt">(b)&#9;The benefit of TJC&rsquo;s indemnification
obligation under this Section 14 shall extend to the heirs and legal representatives of Seller and the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>15.</B>&#9;<B>Threshold and Cap</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;In respect of TJC&rsquo;s assertion
of an indemnification claim under Section 13(a)(i), TJC shall not be entitled to indemnification until the aggregate amount for
which indemnification is sought exceeds $15,000. If this threshold is reached, TJC may assert an indemnification claim for the
full amount of the claim (going back to the first dollar) and may assert any subsequent indemnification claim under Section 13(a)(i)
without regard to any threshold. The maximum aggregate amount for which TJC may assert indemnification claims under Section 13
shall be $419,250. No threshold or cap shall apply, however, in the case of any Loss caused by, arising out of or relating to any
fraud or intentional misrepresentation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;In respect of Seller&rsquo;s and/or
a Shareholder&rsquo;s assertion of an indemnification claim under Section 14(a)(i), Seller and/or the Shareholders shall not be
entitled to indemnification until the aggregate amount for which indemnification is sought collectively exceeds $15,000. If this
threshold is reached, Seller and the Shareholders may assert an indemnification claim for the full amount of the claim (going back
to the first dollar) and may assert any subsequent indemnification claim under Section 14(a)(i) without regard to any threshold.
The maximum aggregate amount for which Seller and/or the Shareholders may assert indemnification claims under Section 14 shall
be $419,250. No threshold shall apply, however, in the case of any Loss caused by, arising out of or relating to any fraud or intentional
misrepresentation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&#9;No threshold shall apply to TJC&rsquo;s
assertion of an indemnification claim under Sections 13(a)(ii) or (iii) or to Seller&rsquo;s or a Shareholder&rsquo;s assertion
of an indemnification claim under Sections 14(a)(ii) or (iii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>16.</B>&#9;<B>Survival</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;An indemnification claim under Sections
13(a)(i) and 14(a)(i) may be asserted at any time prior to the second anniversary of the Closing Date, with the exception that:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&#9;an indemnification claim
under Section 13(a)(i) in respect of any inaccuracy in or breach of any of the representations and warranties in Section 6(d) (&ldquo;Taxes&rdquo;)
may be asserted at any time prior to the expiration of the applicable statute of limitation; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&#9;an indemnification claim
under Section 13(a)(i) in respect of any inaccuracy in or breach of any of the representations and warranties in Sections 6(b)
(&ldquo;Authority&rdquo;) and 6(e) (&ldquo;Title to and Condition of Assets&rdquo;), may be asserted at any time without limit,
but only as to indemnification claims related to title to Assets, not condition of Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">(b) &#9;An indemnification claim under Sections
13(a)(ii) and (iii) and Sections 14(a)(ii) and (iii)may be asserted at any time without limit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>17.</B>&#9;<B>Notice of Indemnification Claim</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;The indemnified party may assert
an indemnification claim by giving written notice of the indemnification claim to the indemnifying party. The indemnified party&rsquo;s
notice shall provide reasonable detail of the facts giving rise to the indemnification claim and a statement of the indemnified
party&rsquo;s Loss or an estimate of the Loss that the indemnified party reasonably anticipates that it will suffer. The indemnified
party may amend or supplement its indemnification claim at any time, and more than once, by written notice to the indemnifying
party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;If or to the extent that the indemnification
claim is not in respect of a Third Party Suit, Section 18 shall apply. If or to the extent that the indemnification claim is in
respect of a Third Party Suit, Section 19 shall apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>18.</B>&#9;<B>Resolution of Claims</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;If the indemnifying party does not
object to an indemnification claim during the 30-day period following receipt of the indemnified party&rsquo;s notice of its indemnification
claim, the indemnified party&rsquo;s indemnification claim shall be considered undisputed, and the indemnified party shall be entitled
to recover the actual amount of its indemnifiable Loss from the indemnifying party, subject to the threshold, if any, in Section
15(a) or (b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;If the indemnifying party gives notice
to the indemnified party within the 30-day objection period that the indemnifying party objects to the indemnified party&rsquo;s
indemnification claim, the indemnifying party and the indemnified party shall attempt in good faith to resolve their differences
during the 30-day period following the indemnified party&rsquo;s receipt of the indemnifying party&rsquo;s notice of its objection.
If they fail to resolve their disagreement during this 30-day period, either of them may unilaterally submit the disputed indemnification
claim for non-binding arbitration before the American Arbitration Association in Phoenix, Arizona in accordance with its rules
for commercial arbitration in effect at the time, which shall be a condition precedent to seeking resolution of the disputed indemnification
claim before any court of competent jurisdiction. The award of the arbitrator or panel of arbitrators may include attorneys&rsquo;
fees to the prevailing party. The prevailing party may enforce the award of the arbitrator or panel of arbitrators in any court
of competent jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>19.</B>&#9;<B>Third Party Suits </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;TJC shall promptly give notice to
Seller and the Shareholders of any suit, demand, or claim by a third person against TJC, for which TJC is entitled to indemnification
under Section 13(a) (a &ldquo;Third Party Suit&rdquo;), which may be given by notice of an indemnification claim in respect of
the Third Party Suit. TJC&rsquo;s failure or delay in giving this notice shall not relieve Seller or the Shareholders from their
indemnification obligation under this Section 19(a) in respect of the Third Party Suit, except to the extent that Seller or a Shareholder
suffer or incur a Loss or are prejudiced by reason of TJC&rsquo;s failure or delay.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;TJC shall control the defense of
any Third Party Suit. Seller and the Shareholders shall be entitled to copies of all pleadings and, at their expense, may participate
in, but not control, the defense and employ their own counsel. Seller and the Shareholders shall in any event reasonably cooperate
in the defense of the Third Party Suit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&#9;TJC&rsquo;s settlement of a Third
Party Suit shall also be binding on Seller and the Shareholders, in the same manner as if a final judgment in the amount of the
settlement had been entered by a court of competent jurisdiction, if, as part of the settlement, Seller and the Shareholders receive
a binding release providing that any liability of Seller or the Shareholders in respect of the Third Party Suit is being satisfied
as part of the settlement. TJC shall give Seller and the Shareholders at least 30 days&rsquo; prior notice of any proposed settlement,
and during this 30-day period Seller or the Shareholders may reject the proposed settlement and instead assume the defense of the
Third Party Suit if:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&#9;the Third Party Suit seeks
only money damages and does not seek injunctive or other equitable relief against TJC;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&#9;Seller and the Shareholders
unconditionally acknowledge in writing to TJC that Seller and the Shareholders are obligated to indemnify TJC in full in respect
of the Third Party Suit (except for any matters that are not subject to indemnification under this Agreement);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&#9;the counsel chosen by
Seller and the Shareholders to defend the Third Party Suit is reasonably satisfactory to TJC;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iv)&#9;Seller and the Shareholders
furnish TJC with reasonably satisfactory assurances that Seller and the Shareholders have the financial resources to defend the
Third Party Suit and to satisfy their indemnification obligation in respect of the Third Party Suit;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.35pt; text-indent: 44.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.35pt; text-indent: 44.65pt">(v)&#9;Seller or the Shareholders
actively and diligently defend the Third Party Suit; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vi)&#9;Seller and the Shareholders
consult with TJC regarding the Third Party Suit at TJC&rsquo;s reasonable request.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If Seller or the Shareholders assume the
defense of the Third Party Suit, TJC shall be entitled to copies of all pleadings and, at its expense, may participate in, but
not control, the defense and employ its own counsel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&#9;Seller and the Shareholders may settle
a Third Party Suit in which, Seller or a Shareholder controls the defense only if the following conditions are satisfied:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&#9;the terms of settlement
do not require any admission by Seller, the Shareholders or TJC, in respect of any matters subject to indemnification under Sections
13 or 14 of this Agreement, that in TJC&rsquo;s reasonable judgment would have an adverse effect on TJC; and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&#9;as part of the settlement,
TJC receives a binding release providing that any liability of TJC in respect of the Third Party Suit is being satisfied as part
of the settlement.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)&#9;TJC&rsquo;s failure to defend a Third
Party Suit shall not relieve Seller or the Shareholders of their indemnification obligation under Section 13 of this Agreement
if TJC gives Seller or the Shareholders at least 30 days&rsquo; prior notice of TJC&rsquo;s intention not to defend the Third Party
Suit and affords Seller and the Shareholders the opportunity to assume the defense without having to satisfy the conditions in
Section 18(c) for assuming the defense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>20.</B>&#9;<B>Expenses</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each party shall pay its own expenses in
connection with the negotiation and preparation of this Agreement and the closing of the Transaction. In the event of termination
of this Agreement prior to Closing pursuant to Section 12, each party&rsquo;s obligation to pay its own expenses shall be subject
to any right of recovery as a result of a default under this Agreement by the other party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>21.</B>&#9;<B>Schedules</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Nothing in any Schedule to Section 6 shall
be considered adequate to constitute an exception to the related representation and warranty in Section 6 unless the Schedule describes
the relevant facts in reasonable detail. Any exception in a Schedule to Section 6 shall be considered an exception to any other
representation and warranty in Section 6 to which the exception relates if it is reasonably apparent on its face that the exception
in question relates to such other representation and warranty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>22.</B>&#9;<B>Parties&rsquo; Review</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any knowledge acquired by a party (or that
should have been or could have been acquired) as a result of any due diligence or other review or investigation in connection with
the negotiation and execution of this Agreement and the closing of the transaction shall not limit that party&rsquo;s right to
rely on the other party&rsquo;s representations and warranties in this Agreement or circumscribe that party&rsquo;s entitlement
to indemnification under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>23.</B>&#9;<B>Publicity</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any public announcement or similar publicity
regarding this Agreement or the transaction shall be issued only as, when and in the manner and form that TJC determines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>24.</B>&#9;<B>Notices</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;All notices under this Agreement
shall be in writing and sent by certified or registered mail, overnight messenger service, facsimile or personal delivery, as follows:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">(i) if to Seller or the Shareholders, to or in care of:</FONT> <FONT STYLE="font-size: 10pt"></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">San Diego Joint Development, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">c/o Stephanie McRae, CEO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">5024 E. Turquoise Avenue</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Paradise Valley, AZ 85253</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 83%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">with a required copy to:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Jonathan Solish, Esq.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Bryan Cave, LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">120 Broadway, Suite 300</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Santa Monica, California&nbsp;&nbsp;90401-2386</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Fax: 310 260 4156</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">(ii) if to TJC, to:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">The Joint Corp.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">16767 N. Perimeter Dr. Suite 240</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Scottsdale, AZ&nbsp;&nbsp;85260</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Fax: (480) 513-7989</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Attention:</FONT>&nbsp;&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mr. David Orwasher</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Operating Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">with a required copy to:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Johnson and Colmar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">2201 Waukegan Road, Suite 260</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Bannockburn, Illinois 60015</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Fax: (312) 922-9283</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Attention: </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Mr. Craig P. Colmar</FONT></TD></TR>
</TABLE>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;A notice sent by certified or registered
mail shall be considered to have been given five business days after being deposited in the mail. A notice sent by overnight courier
service, facsimile or personal delivery shall be considered to have been given when actually received by the intended recipient.
A party may change its address for purposes of this Agreement by notice in accordance with this Section 24.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>25.</B>&#9;<B>Further Assurances and Cooperation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;The parties agree to (i) furnish
to one another other such further information, (ii) execute and deliver to one another such further documents and (iii) do such
other acts and things that any party reasonably requests for the purpose of carrying out the intent of this Agreement and the documents
and instruments referred to in this Agreement. For 45 days following the Closing, Seller and each Shareholder shall provide to
TJC such assistance (excluding travel) as TJC reasonably requests to help ensure a smooth and orderly transition of ownership of
the Subject Franchises.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;The parties acknowledge that TJC
may be required by applicable laws and regulations to include financial statements and information relating to the Subject Franchises
in TJC&rsquo;s financial statements, and TJC may be required to perform audits of the Subject Franchises&rsquo; financial statements.
Accordingly, for the 120-day period following Closing, the Seller and the Shareholders agree to cooperate with TJC and to provide
it with any information reasonably available to the Seller and the Shareholders to assist TJC and its representatives in obtaining
such financial statements, conforming such financial statements to applicable accounting standards and conducting such audits,
and to sign and deliver to TJC&rsquo;s accountants any representation letters reasonably required to complete such audits at the
expense of the requesting party (Seller&rsquo;s and the Shareholders&rsquo; &ldquo;<U>Section 25(b) Duties</U>&rdquo;). Such information
includes, but is not limited to, the financial books, records and work papers of Seller. The Note shall secure Seller&rsquo;s and
the Shareholders&rsquo; performance of their Section 25(b) Duties. In the event that Seller and the Shareholders perform their
Section 25(b) Duties in all material respects, TJC shall prepay $25,000 of the principal amount of the Note, plus the interest
accrued thereon, no later than 120 days after Closing. In the event that, in TJC&rsquo;s reasonable judgment, Seller or the Shareholders
fail to perform their Section 25(b) Duties in any material respect, after providing written notice specifying such failure and
providing for a reasonable cure period, TJC may offset against the Note, in accordance with Section 3 of the Note, TJC&rsquo;s
reasonable expenses incurred as a result of Seller&rsquo;s or the Shareholders&rsquo; failure to perform their Section 25(b) Duties,
but in no event more than $25,000 of principal (plus the related interest).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>26.</B>&#9;<B>Waiver</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The failure or any delay by any party in
exercising any right under this Agreement or any document referred to in this Agreement shall not operate as a waiver of that right,
and no single or partial exercise of any right shall preclude any other or further exercise of that right or the exercise of any
other right. All waivers shall be in writing and signed by the party to be charged with the waiver, and no waiver that may be given
by a party shall be applicable except in the specific instance for which it is given.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>27.</B>&#9;<B>Entire Agreement</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Agreement supersedes all prior agreements
between the parties with respect to its subject matter and constitutes (together with (i) the Exhibits, (ii) the Schedules and
(iii) the parties&rsquo; Closing Documents) a complete and exclusive statement of the terms of the agreement between the parties
with respect to its subject matter. This Agreement may not be amended except by a written agreement signed by the party to be charged
with the amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>28.</B>&#9;<B>Assignment</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No party may assign any of its rights under
this Agreement without the prior written consent of the other party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>29.</B>&#9;<B>No Third Party Beneficiaries</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Nothing in this Agreement shall be considered
to give any person other than the parties any legal or equitable right, claim or remedy under or in respect of this Agreement or
any provision of this Agreement. This Agreement and all of its provisions are for the sole and exclusive benefit of the parties
and their respective successors, permitted assigns, heirs and legal representatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.35pt"><B>30.</B>&#9;<B>Construction</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;All references in this Agreement
to &ldquo;Section&rdquo; or &ldquo;Sections&rdquo; refer to the corresponding section or sections of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;All words used in this Agreement
shall be construed to be of the appropriate gender or number as the context requires.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&#9;Unless otherwise expressly provided,
the word &ldquo;including&rdquo; does not limit the preceding words or terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&#9;The captions of articles and sections
of this Agreement are for convenience only and shall not affect the construction or interpretation of this Agreement.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>31.</B>&#9;<B>Severability</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The invalidity or unenforceability of any
term or provision, or part of any term or provision, of this Agreement shall not affect the validity and enforceability of the
other terms and provisions of this Agreement, and this Agreement shall be construed in all respects as if the invalid or unenforceable
term or provision, or part, had been omitted. In the event that any provision of this Agreement is determined by a court of competent
jurisdiction to be unenforceable because it is too broad, such provision shall be interpreted to be only as broad as is enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>32.</B>&#9;<B>Counterparts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">This Agreement may be signed in any number
of counterparts (including by facsimile or portable document format (pdf)), all of which together shall constitute one and the
same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>33.</B>&#9;<B>Governing Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="font-size: 10pt">This Agreement
shall be governed by the internal Laws of the State of Arizona, without giving effect to any choice of</FONT><FONT STYLE="font-size: 12pt">
</FONT><FONT STYLE="font-size: 10pt">law provision or rule (whether of the State of</FONT><FONT STYLE="font-size: 12pt"> </FONT><FONT STYLE="font-size: 10pt">Arizona
or any other state) that would cause the laws of any state other than the State of Arizona to govern this Agreement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>34.&#9;Binding Effect</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Agreement shall apply to, be binding
in all respects upon and inure to the benefit of parties and their respective heirs, legal representatives, successors and permitted
assigns.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties hereto affix
their signatures and execute this Agreement as of the day and year first above written.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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"><FONT STYLE="font-size: 10pt"><B>San Diego Joint Development, Inc.</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">T<B>he Joint Corp.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT>&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">_____________________________________________,<I> President</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">David Orwasher, <I>Chief Operating Officer</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>Stephanie McRae</B>, Individually</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>Elizabeth McRae</B>, Individually</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Signature Page to Asset and Franchise Purchase Agreement</I></P>

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


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<DOCUMENT>
<TYPE>EX-2.2
<SEQUENCE>3
<FILENAME>v409457_ex2-2.htm
<DESCRIPTION>EXHIBIT 2.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<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 0pt 5.5in; text-align: right"><B>Exhibit 2.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.5in; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Franchise Agreement Termination and Reinstatement
Agreement</B></P>

<P STYLE="font: 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-indent: 0.5in">This Franchise Agreement Termination and
Reinstatement Agreement (this &ldquo;<U>Agreement</U>&rdquo;) is entered into as of April 30, 2015 (the &ldquo;Effective Date&rdquo;),
by The Joint Corp., a Delaware corporation (&ldquo;<U>TJC</U>&rdquo;), Stephanie McRae, an individual (&ldquo;<U>McRae</U>&rdquo;),
and South Bay Joint Development, Inc. (&ldquo;<U>South Bay</U>&rdquo; and, together with TJC and McRae, the &ldquo;<U>Parties</U>&rdquo;).</P>

<P STYLE="font: 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: center">Background:</P>

<P STYLE="font: 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-indent: 0.5in">A.&#9;TJC and South Bay are parties to certain
franchise agreements relating to the following The Joint Corp. franchises: #31013, #31014, #31015, #31016, #31043 #31044, #31045,
#31046, and #31047 (the &ldquo;<U>Subject Franchise Agreements</U>&rdquo;). A description of the Franchise Agreements are attached
hereto as Exhibit A.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">B.&#9;The Parties have determined that it
is their mutual best interests to terminate the Subject Franchise Agreements, and to reinstate franchise #31013, in both cases
on the terms and subject to the conditions of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">C.&#9;McRae and Kim A. White, an individual
(&ldquo;White&rdquo;), own all of the issued and outstanding shares of South Bay.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Now, therefore, in consideration of their
mutual promises and intending to be legally bound, the Parties agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&#9;<B>Definitions</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Capitalized terms used in this Agreement
(including the preceding &ldquo;Background&rdquo; section) without being defined have the same meanings that they have in the Subject
Franchise Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&#9;<B>Termination</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Parties agree that, with the exception
of the survival of certain terms of the Subject Franchise Agreements as provided in Paragraph 4 of this Agreement (the &ldquo;<U>Surviving
Terms</U>&rdquo;), the Subject Franchise Agreements are hereby terminated, effective as of the date of this Agreement; and with
the exception of the Parties&rsquo; respective rights, duties and obligations under the Surviving Terms, and the terms of this
Agreement, all of the Parties&rsquo; respective rights, duties and obligations under the Subject Franchise Agreements are thereby
terminated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&#9;<B>Payment</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In consideration for entering into and performing
their respective obligations under this Agreement, TJC shall pay to South Bay the amount $72,000 in cash on the Effective Date
of this Agreement.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&#9;<B>Reinstatement of Franchise Agreement</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;The Parties agree that the franchise
agreement pertaining to franchise #31013 for Culver City, CA (the &ldquo;<U>Reinstated Franchise Agreement</U>&rdquo;) shall be
reinstated as of the Effective Date, and, notwithstanding anything in this Agreement to the contrary, all of the Parties&rsquo;
respective rights, duties and obligations with respect to the Reinstated Franchise Agreement shall be reinstated except as expressly
provided herein; provided, however, that any defaults by either Party under the Reinstated Franchise Agreement relating to any
period of time preceding the Effective Date shall be and hereby are waived.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;Notwithstanding any term in the Reinstated
Franchise Agreement to the contrary, the Reinstated Franchise Agreement shall automatically terminate without necessity of notice
and without the right to cure, and all of the Parties&rsquo; respective rights, duties and obligations under the Reinstated Franchise
Agreement, with the exception of the surviving terms, shall terminate if South Bay does not open for business at the Studio Village
in Culver City, CA (&ldquo;Premises&rdquo;) within 180 days of the Effective Date (the &ldquo;Termination Date&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c) &#9;Notwithstanding the foregoing, if
the Premises are under construction prior to the Termination Date, South Bay may extend the Termination Date by giving notice to
TJC prior to the Termination Date along with payment of seven hundred dollars ($700), whereupon the Termination Date shall be extended
to the end of the last day of first full calendar month after such extension notice. South Bay may further extend the Termination
Date by one calendar month at a time by paying TJC seven hundred dollars ($700) prior to the Termination Date as extended, provided
that construction at the Premises is proceeding at a commercially reasonable pace. Thereafter, if the Franchise is not open for
business at the Premises by the Termination Date as extended, and either (i) South Bay does not extend the Termination Date as
described in the previous sentence or (ii) the construction is completed or construction has ceased to continue at a commercially
reasonable pace, the Reinstated Franchise Agreement shall automatically terminate without necessity of notice and without the right
to cure.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d) &#9;As used in this Paragraph 4, &ldquo;open
for business&rdquo; shall mean the opening for business of a typical Joint clinic without being in default of the Joint franchise
criteria beyond applicable notice and cure periods.</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: 0pt 0; text-indent: 0.5in">5.&#9;<B>Lease Provisions</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;Notwithstanding any term in the Reinstated
Franchise Agreement to the contrary, the Reinstated Franchise Agreement shall automatically terminate without necessity of notice
and without the right to cure, and all of the Parties&rsquo; respective rights, duties and obligations under the Reinstated Franchise
Agreement, with the exception of the surviving terms, shall terminate if prior to the earlier of 180 days from the Effective Date
and the date which the Culver City franchise is open for business, South Bay has not obtained, in a form reasonably acceptable
to TJC:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a) an amendment to the lease and sublease
for the Premises to allow the sublease to be assigned (i) to TJC without Landlord&rsquo;s consent, and (ii) to a qualified franchisee
of TJC subject to Landlord&rsquo;s reasonable consent; and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) a written recognition agreement whereby
landlord for the lease of the Premises agrees that in the event of a default by tenant under the lease, landlord will, during the
initial term of the sublease, excluding option terms, recognize the sublease as a direct lease between landlord and the sublessee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.&#9;<B>Territory</B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The parties agree that the last sentence
of paragraph 6 of the Addendum, shall be deleted in its entirety and replaced with the following:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Joint will not permit any new Joint chiropractic
clinics (either company owned or franchised) to be located within one-half mile of the location of the franchise that is the subject
of the Franchise Agreement to which this Addendum is attached.</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: 0pt 0; text-indent: 0.5in">7.&#9;<B>Surviving Terms</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;Notwithstanding the termination of
the Subject Franchise Agreements, the following provisions of the Subject Franchise Agreements (excluding the Reinstated Franchise
Agreement, which shall be reinstated in its entirety, as amended by this Agreement) shall survive and continue in effect in accordance
with their terms:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(1)&#9;Section 8.3 (&ldquo;Indemnification&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(2)&#9;Section 9 (&ldquo;Confidential
Information; Non-Competition&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(3)&#9;Section 13.2 (&ldquo;Company&rsquo;s
Right to Audit&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(4)&#9;Section 16.2 (&ldquo;Marks&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(5)&#9;Section 16.4 (&ldquo;Confidential
Information&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(6)&#9;Section 16.5 (&ldquo;Joint
Software&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(7)&#9;for purposes of resolving
any disputes under this Agreement, Section 15.8 (&ldquo;Consent to Jurisdiction&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(8) &#9;Section 16.7 (&ldquo;Continuing
Obligations&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(9)&#9;Section 17.1 (&ldquo;Invalid
Provisions; Substitution of Valid Provisions&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(10)&#9;Section 17.8 (&ldquo;Specific
Performance; Injunctive Relief&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(11)&#9;Section 17.9 for purposes
of resolving any disputes under this Agreement (&ldquo;Arbitration&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(12) Section 17.10 for purposes
of resolving any disputes under this Agreement (&ldquo;Waiver of Punitive Damages and Jury Trial; Limitations of Actions&rdquo;);
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 27.35pt">(13)&#9;Section 17.11 for purposes
of resolving any disputes under this Agreement (&ldquo;Governing Law/Consent to Jurisdiction&rdquo;).</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: 0pt 0; text-indent: 0.5in">8.&#9;<B>Representations and Warranties </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">South Bay and McRae hereby jointly and severally
represent and warrant to TJC as follows:</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: 0pt 0; text-indent: 0.5in">(a)&#9;<U>No Obligations</U>. South Bay
has not entered into any agreements or incurred any obligations in connection with the Subject Franchise Agreements or the development
of the franchise under the Subject Franchise Agreements, other than with respect to the Reinstated Franchise Agreement and legal
and financial advisors.</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: 0pt 0; text-indent: 0.5in">(b)&#9;<U>Authority</U>. South Bay is not
a party to, subject to, or bound by any agreement, judgment, order, writ, injunction, or decree of any court or governmental body
that prevents or impairs the carrying out of this Agreement. All actions (including all action required by state law and by the
organizational documents of South Bay) necessary to authorize the execution, delivery and performance by South Bay of this Agreement,
and the other documents, instruments and agreements necessary or appropriate to carry out the transactions herein contemplated,
have been taken by South Bay. Upon the execution of this Agreement and the other documents and instruments contemplated hereby
by South Bay, White and McRae, this Agreement and such other documents and instruments will be the valid and legally binding obligations
of South Bay, White and McRae (as the case may be), enforceable against each of them in accordance with their respective terms,
subject to applicable bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors&rsquo; rights generally,
and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith
and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity).</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: 0pt 0; text-indent: 31.7pt">(k)&#9;<U>No Consent or Approval Required</U>.
No authorization, consent, approval or other order of, declaration to or filing with any governmental body or authority is required
for the consummation by South Bay of the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.&#9;<B>Releases</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;South Bay, White and McRae for themselves
and their heirs, legal representatives and assigns, hereby unconditionally and irrevocably release and waive all claims, demands<FONT STYLE="font-family: Times New Roman, Times, Serif">,
</FONT>causes of action and damages of any kind whatever, whether known or unknown (collectively, &ldquo;<U>Claims</U>&rdquo;)
that South Bay, White or McRae now has or in the future may have against TJC and its successors and assigns by reason of any event,
occurrence or omission arising under or relating to the Subject Franchise Agreements with the exception of Claims arising (i) under
this Agreement, (ii) under the surviving provisions of the Subject Franchise Agreements to the extent that such Claims arise on
or after the Effective Date of this Agreement or (iii) under the Reinstated Franchise Agreement to the extent that such Claims
arise on or after Effective Date.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;TJC, for itself and its successors
and assigns, hereby unconditionally and irrevocably releases and waives all Claims that TJC now has or in the future may have against
South Bay, White or McRae and their heirs, legal representatives and assigns by reason of any event, occurrence or omission arising
under or relating to the Subject Franchise Agreements with the exception of Claims arising (i) under this Agreement, (ii) under
surviving provisions of the Subject Franchise Agreements to the extent that such Claims arise on or after the Effective Date or
(iii) under the Reinstated Franchise Agreement to the extent that such Claims arise on or after Effective Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>10.&#9;Indemnification</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;South Bay and McRae, for themselves
and their respective heirs, legal representatives and assigns, hereby agree to indemnify TJC and its successors and assigns against,
and hold TJC and each of the others harmless from, any Claim by a third party which may at any time be asserted against TJC by
reason of any action or omission by South Bay, White or McRae under or relating to the Subject Franchise Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;TJC, for itself and its and successors
and assigns, hereby agrees to indemnify South Bay, White and McRae and their respective heirs, legal representatives, successors
and assigns against, and hold South Bay, White and McRae and each of the others harmless from, any Claim by a third party which
may at any time be asserted against South Bay, White or McRae by reason of any action or omission by TJC under or relating to the
Subject Franchise Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">11.&#9;<B>Confidentiality</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">South Bay, White and McRae each acknowledge
that both the existence of this Agreement and the provisions that it contains are confidential and each of them agrees that, except
as required by law, she or it will not directly or indirectly, by any means, disclose to any third party (except legal, accounting,
tax and business advisors) either the existence of this Agreement or the provisions that it contains without the prior written
approval of TJC. South Bay, White and McRae each agrees that if she or it violates this confidentiality obligation, then in addition
to any other remedies that may be available to TJC, TJC shall be entitled to seek a temporary restraining order, and a preliminary
and permanent injunction to prevent South Bay&rsquo;s, White&rsquo;s or McRae&rsquo;s continued violation, without the necessity
of proving actual damages or posting any bond or other security.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.&#9;<B>Nondisparagement</B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a) Each of South Bay, White and McRae agree
that they will not at any time, directly or indirectly, orally, in writing or through any medium (including, but not limited to,
the press or other media, computer networks or bulletin boards, or any other form of communication) disparage, defame, or otherwise
damage or assail the reputation, integrity or professionalism of TJC or any of its officers, directors, employees or agents.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) TJC agrees that it will not at any time,
directly or indirectly, orally, in writing or through any medium (including, but not limited to, the press or other media, computer
networks or bulletin boards, or any other form of communication) disparage, defame, or otherwise damage or assail the reputation,
integrity or professionalism the of South Bay or any of South Bay&rsquo;s officers, directors, employees or agents. Nothing herein
shall prohibit TJC from making disclosures which in its reasonable judgment are required in order to comply with applicable laws,
including but not limited to the federal and state securities laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>13.&#9;Counterparts</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Agreement may be signed in any number
of counterparts (including by facsimile or portable document format (pdf)), all of which together shall constitute one and the
same instrument.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.&#9;<B>Governing Law</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Agreement shall be governed by the
laws of the State of Arizona without regard to conflicts-of-law principles or rules that would require this Agreement to be governed
by the laws of a different state.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">13.&#9;<B>Binding Effect</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Agreement shall apply to, be binding
in all respects upon and inure to the benefit of Parties and their respective heirs, legal representatives, successors and assigns.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">[Signature page follows.]</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In witness, the Parties have executed this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"></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="2" STYLE="text-align: justify"><B>The Joint Corp.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">David Orwasher</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">President and Chief Operating Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><B>South Bay Joint Development, Inc.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Stephanie McRae</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><B>Stephanie McRae, </B>Individually</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">With Respect to Articles 9, 11 and 12 only:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid"></TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><B>Kim White</B>, Individually</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

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