Amendment to Settlement Agreement between New York Health Care, Inc., Emerald Asset Management, Inc., and Yitz Grossman
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Summary
This amendment updates a previous settlement agreement between New York Health Care, Inc., Emerald Asset Management, Inc., and Yitz Grossman. Under this amendment, Emerald Asset and Yitz Grossman agree not to demand the cash portion of the original settlement until New York Health Care, or any of its future entities, receives additional funds from any source. The agreement clarifies when payment obligations become due, providing flexibility for New York Health Care regarding the timing of the cash payment.
EX-10.1 2 v040893_ex10-1.htm Unassociated Document
EXHIBIT 10.1
AMENDMENT TO
SETTLEMENT AGREEMENT
This is an agreement between New York Health Care, Inc. and Emerald Asset Management, Inc. and Yitz Grossman (the Parties), relating to the March 6, 2006 settlement agreement between the Parties; wherein Emerald Asset and Grossman have, heretofore, agreed to not demand the cash portion of said settlement agreement, until such time as New York Health Care (or any future entity of New York Health Care) receives any additional monies from any source.
/s/ Dennis O’Donnell 04/17/06
New York Health Care, Inc. Date
/s/ Yitz Grossman 04/17/06
Individually and Date
on behalf of Emerald Asset
Management, Inc.
