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EXHIBIT 4.16
USC UNIVERSITY HOSPITAL
OPTION AGREEMENT
FEBRUARY 3, 1996
American Shared Hospital Services ("ASHS") agrees to the transfer of the Option
Agreement dated November 28, 1994 between Xxxxxx X. Xxxxx, M.D. ("Xxxxx") and
ASHS to GK Financing ("GKF"). In addition, GKF exercises its rights effective
February 3, 1996 pursuant to the Option Agreement to purchase the LGK and to
assume the G.E. installment Note. The transfer of the Option Agreement to GKF
from ASHS does not obligate GKF to pay Xxxxx for any losses incurred from
ownership of the Gamma Knife prior to February 3, 1996. The obligation to
reimburse Xxxxx for any losses prior to February 3, 1996 pursuant to Paragraph
3.1 of the Option Agreement shall remain with ASHS.
GK Financing, LLC Xxxxxx X. Xxxxx, M.D.
/s/ Xxxxx X. Xxxxxx /s/ Xxxxxx X. Xxxxx
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American Shared Hospital Services
/s/ Xxxxxx X. Xxxxx
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