OPTION CARE HEALTH, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

Item 1.01. Entry into a Material Definitive Agreement.

On January 13, 2023, Option Care Health, Inc. (the "Company") executed a fourth amendment to its ABL Credit Agreement entered into on August 6, 2019 (as amended, restated, supplemented or otherwise modified prior to the date thereof, the "Existing ABL Credit Agreement"). The amendment, among other things, increases the Total Revolving Credit Commitments under (and as defined in) the Existing ABL Credit Agreement by $50,000,000 from $175,000,000 to $225,000,000 and replaces LIBOR as a reference rate thereunder with a SOFR term rate. This fourth amendment to the ABL Credit Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 1.01.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 16, 2023, the Board of Directors of the Company (the "Board") appointed Luke Whitworth, age 42, to serve as Chief Operating Officer of the Company, effective immediately. Prior to his appointment as Chief Operating Officer, Mr. Whitworth served as the Company's Senior Vice President, Patient Registration Administration and Specialty Operations, a position he held since August 2022. Mr. Whitworth served as the Company's Vice President of Revenue Cycle Management from April 2018 to August 2022. Prior to joining the Company, Mr. Whitworth served as a finance leader at Cardinal Health from August 2003 to April 2018.

Subject to and in connection with Mr. Whitworth's promotion, the Compensation Committee of the Board approved an increase in Mr. Whitworth's annual base salary to $550,000 and an increase in his annual cash incentive opportunity to a target of 90% of his annual base salary, effective as of January 1, 2023.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits



Exhibit No.   Description
  10.1          Fourth Amendment to ABL Credit Agreement, dated as of January 13,
              2023, among Option Care Health, Inc. (f/k/a BioScrip, Inc.), a Delaware
              corporation, each guarantor party thereto, each lender party thereto and
              Bank of America, N.A., as administrative agent.
104           The cover page from this Current Report on Form 8-K, formatted in Inline
              XBRL.

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