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Exhibit 10.1
FIRST AMENDMENT TO
CONVERTIBLE SUBORDINATED PROMISSORY NOTES
THIS
FIRST AMENDMENT TO CONVERTIBLE SUBORDINATED PROMISSORY NOTES
(this
"Amendment") is made and entered into as of May 9, 2006 by and
between Orion
HealthCorp, Inc., a Delaware corporation (the "Company"), and
Brantley Partners
IV, L.P. ("Payee").
WHEREAS, on June 1, 2005 the Company issued to Payee that
certain
Convertible Subordinated Promissory Note in the original principal
amount of
$1,025,000 due April 19, 2006 (the "First Note");
WHEREAS, on June 1, 2005 the Company issued to Payee that
certain
Convertible Subordinated Promissory Note in the original principal
amount of
$225,000 due April 19, 2006 (the "Second Note" and collectively
with the First
Note, the "Notes");
WHEREAS, the Company and Payee desire to amend the Notes on the
terms and
conditions set forth herein.
NOW,
THEREFORE, in consideration of the agreements and promises
contained
herein, and for other good and valuable consideration, the receipt
and
sufficiency of which is hereby acknowledged, the parties hereto
agree as
follows:
1.
Amended Terms. The maturity date set forth in
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