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SECOND AMENDMENT TO
CONVERTIBLE SUBORDINATED PROMISSORY NOTES
THIS SECOND
AMENDMENT TO CONVERTIBLE SUBORDINATED PROMISSORY NOTES (this
“Amendment”) is made and entered into as of
August 8, 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, on
May 9, 2006, the Company and Payee entered into that certain
First Amendment to Convertible Subordinated Promissory Notes, which
extended the maturity date for the Notes to August 15, 2006;
and
WHEREAS, the
Company and Payee desire to further amend the Notes on the terms
and conditions set forth herein.
NOW, THEREFORE,
in consideration of the agreements and promises
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