Exhibit 10.3
AMENDMENT TO AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT
This Amendment (this “Amendment”) to that certain AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT, dated as of December 18, 2020 (the “Original Agreement”), by and among (i) CareMax, Inc., f/k/a Deerfield Healthcare Technology Acquisitions Corp., a Delaware corporation (“Pubco”), (ii) DFHTA Sponsor LLC, a Delaware limited liability company, (iii) each of the Persons listed on the Schedule of Investors attached to the Original Agreement and (iv) each of the other Persons set forth from time to time on the Schedule of Investors who, at any time, own securities of Pubco and enter into a joinder to the Original Agreement agreeing to be bound by the terms thereof (each Person identified in the foregoing (ii) through (iv), an “Investor” and, collectively, the “Investors”), is made as of November 10, 2022 (the “Amendment Date”), by and among Pubco and each Investor executing a signature page hereto (the “Parties”), including the Majority Deerfield Investors, the Majority IMC Investors and the Majority Caremax Investors (each as defined below). Unless otherwise provided in this Amendment, capitalized terms used and not otherwise defined herein have the meanings set forth in the Original Agreement.
WHEREAS, pursuant to Section 12(d) of the Original Agreement, the Original Agreement may be amended or waived only with the prior written consent of Pubco and the holders of a majority of the Registrable Securities then outstanding; provided, that (i) such majority shall include the Majority Deerfield Investors for so long as the Majority Deerfield Investors hold at least 5% of the outstanding Common Stock on the date of such amendment or waiver and in certain other circumstances, (ii) such majority shall include the Majority IMC Investors for so long as the Majority IMC Investors hold at least 5% of the outstanding Common Stock on the date of such amendment or waiver and (iii) such majority shall include the Majority Caremax Investors for so long as the Majority Caremax Investors hold at least 5% of the outstanding Common Stock on the date of such amendment or waiver, and any amendment or waiver effected in accordance with Section 12(d) of the Original Agreement shall be binding upon each Investor and Pubco; and
WHEREAS, the undersigned Parties include Pubco and the holders of at least a majority of the Registrable Securities as of the Amendment Date, including the Majority Deerfield Investors, the Majority IMC Investors and the Majority Caremax Investors, and the Parties desire to make certain amendments to the Original Agreement with respect to Sections 2(h), 3(c) and 3(d) of the Original Agreement;
NOW, THEREFORE, in consideration of the foregoing recitals, which shall constitute a part of this Amendment, and in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
1. | Certain Amendments to the Original Agreement. The Original Agreement is hereby amended as follows: |
| a. | Section 2(h) of the Original Agreement is hereby amended and restated as follows: |
“Pubco represents and warrants to each holder of Registrable Securities that the registration rights granted in this Agreement, do not, and will not, conflict with any other registration rights granted by Pubco, including the grant of registration rights to (a) Related CM Advisor, LLC, a Delaware limited liability company (the “Advisor”), and such other persons who shall at any time own securities of Pubco and enter into a joinder to that certain registration rights agreement, dated July 13, 2021, by and among Pubco, the Advisor and such other persons who have entered into a joinder thereto, and (b) Dr. Ralph de la Torre (“RDLT”), Dr. Michael Callum (“MC”), Medical Properties Trust, Inc., a Maryland corporation (“MPT”), Sparta Holding Co. LLC, a Delaware limited liability