Tandem Health Care, Inc. Watch

from S-1 102 pages Term Loan Agreement for a Term Loan in the Aggregate Amount of Up to $70,000,000 Made by and Among Certain Affiliates of Tandem Health Care, Inc. Identified Herein Each, as Borrower and Merrill Lynch Capital, a Division of Merrill Lynch Business Financial Services Inc., a Delaware Corporation 222 North Lasalle Street – 16th Floor Chicago, Illinois 60601 as the Administrative Agent and as a Lender and Lasalle Bank National Association, a National Banking Association 135 South Lasalle Street Chicago, Illinois 60603 as the Syndication Agent, the Documentation Agent, and as a Lender and the Additional Lenders From Time to Time Party Hereto Dated as of April 29, 2005 Term Loan Agreement

from S-1 70 pages Loan and Security Agreement

from S-1 62 pages Term Loan Agreement Dated as of December 30, 2004 Among

from S-1 68 pages Loan Agreement for Loans in the Aggregate Amount of $31,800,000 Made by and Among Tandem Health Care of North Strabane, LLC, a Pennsylvania Limited Liability Company, Tandem Health Care of Miami, Inc., a Florida Corporation, Re Kissimmee, Inc., a Florida Corporation, and Re Winter Haven, Inc., a Florida Corporation, Each as “Borrower” and Merrill Lynch Capital, a Division of Merrill Lynch Business Financial Services Inc., a Delaware Corporation 222 North Lasalle Street — 18th Floor Chicago, Illinois 60601 as “Lender” Dated as of February 2, 2004 Loan Agreement

from S-1 14 pages First Amendment to Amended and Restated Term Loan and Security Agreement

from S-1 49 pages Amended and Restated Term Loan and Security Agreement

from S-1 15 pages Second Amendment to Term Loan and Security Agreement

from S-1 8 pages First Amendment to Term Loan and Security Agreement

from S-1 54 pages Term Loan and Security Agreement