NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN

                                       OF

                               NOVOSTE CORPORATION

     Adopted August 20, 1996 and as Amended February ___, 1997

1.   Purpose of Plan.

          The purpose of this Non-Employee Director Stock Option Plan ("Plan")
is to provide additional incentives to Non-Employee Directors (as defined below)
of Novoste Corporation ("Company") to promote the financial success and progress
of the Company by granting such persons options to purchase shares of the
Company's Common Stock ("Common Stock"). The options to purchase shares of
Common Stock under this Plan shall not qualify under Section 422 of the Internal
Revenue Code of 1986, as amended.

2.   Definition of "Non-Employee Director".

          As defined by Regulation 240.16b-3 under the Securities Exchange Act
of 1934, as amended ("Exchange Act"), a "Non-Employee Director" is a person not
currently an officer of the Company or a parent or subsidiary, who does not
receive compensation either directly or indirectly as a consultant of the
Company (except for an amount not required to be disclosed under Item 404(a) of
Regulation S-K, e.g., not more than $60,000), does not have an interest in a
transaction requiring disclosure under Item 404(a) of Regulation S-K, and is not
engaged in a business relationship which would require disclosure under Item
404(b) of Regulation S-K (e.g., where the director has a ten percent or more
equity interest in an entity which makes or receives payments in excess of five
percent of the Company's or that entity's consolidated gross revenues).

3.   Adoption of Plan.

          This Plan shall be effective on the date that it is adopted by the
Board of Directors of the Company ("Board"). The Board shall have and may
exercise any and all of the powers relating to the administration of this Plan
and the grant of options hereunder as are set forth herein.
<PAGE>

4.   Administration.

          (a)  This Plan shall be administered by the Board.

          (b)  The Board shall have the authority to (i) exercise all of the
               powers granted to it under this Plan, (ii) construe, interpret
               and implement this Plan and any Stock Option Agreements executed
               pursuant to Section 8 hereof, (iii) prescribe, amend and rescind
               rules and regulations relating to this Plan, (iv) make all
               determinations necessary or advisable in administering this Plan
               and (v) correct any defect, supply any omission and reconcile any
               inconsistency in this Plan.

          (c)  The determination of the Board on all matters relating to this
               Plan or any Stock Option Agreement shall be final, binding and
               conclusive.

          (d)  No member of the Board shall be liable for any action or
               determination made in good faith with respect to this Plan or any
               award thereunder.

5.   Eligibility.

          Individuals who are Non-Employee Directors of the Company shall be
eligible to participate in this Plan. Each Non-Employee Director to whom an
option is granted hereunder is referred to as an "Optionee."

6.   Shares Subject to this Plan.

          The maximum number of shares of Common Stock that may be issued
pursuant to options granted under this Plan to all Optionees is 100,000 shares,
which shares may, at the discretion of the Board, be either authorized but
unissued shares or shares previously issued and reacquired by the Company. Such
number of shares shall be subject to adjustment as provided in this Plan. If any
option is terminated or unpurchased in whole or in part for any reason without
being exercised in whole or in part, the shares thereby released from such
option shall be available for purchase under other options subsequently granted
under this Plan. At all 


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<PAGE>

times during the term of this Plan, the Company shall reserve and keep available
such number of shares of Common Stock as shall be required to satisfy the
requirements of outstanding options under this Plan.

7.   Granting of Options; Effective Date.

          Until the expiration or sooner termination of this Plan, the Board, at
any time and from time to time, may grant options to Non-Employee Directors for
such number of shares, at such option price, and subject to the terms and
provisions of this Plan. The date on which the grant of an option is authorized
by the Board shall be the effective date of grant for all purposes,
notwithstanding the fact that written acceptance by the Optionee of such grant
may take place thereafter.

8.   Terms and Conditions of Options.

          All options granted under this Plan shall be evidenced by a written
Stock Option Agreement (which may incorporate the provisions of this Plan by
reference and which shall be in such form as the Board shall approve) signed by
the President of the Company and the Optionee. All options shall be granted
subject to the following terms and conditions:

          (a)  Exercise Price. The exercise price per share with respect to each
               option shall not be less than the Fair Market Value of a share of
               Common Stock on the date of grant.

          (b)  Fair Market Value. The term "Fair Market Value" as used herein as
               of any date and in respect of any share of Common Stock means the
               closing sale price for a share of Common Stock on the immediately
               preceding trading date as reported on The Nasdaq National Market
               or, if no closing sale price shall have been made on such
               relevant date, on the next preceding day on which there was a
               closing sale price; provided, however, that if no closing sale


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<PAGE>

               price shall have been made within the ten business days preceding
               such relevant date, or if deemed appropriate by the Board for any
               other reason, the Fair Market Value of such shares of Common
               Stock shall be as determined by the Board. In no event shall the
               Fair Market Value of any share of Common Stock be less than its
               par value.

          (c)  Option Term. Each option shall be granted for a term determined
               from time to time by the Board, but in no event shall an option
               be granted for a term of more than five years and each option is
               subject to earlier termination in the event of the death or the
               voluntary or involuntary termination of the Optionee as set forth
               herein.

          (d)  Limitation on Options. Notwithstanding anything herein, the
               maximum aggregate number of shares of Common Stock with respect
               to which options may be granted to any person eligible therefor
               under this Plan within any one calendar year is 15,000 shares.

          (e)  Exercise of Options. Options shall be exercisable within the
               times or upon the events determined by the Board as set forth in
               the grant of options; provided, however, that no option shall be
               exercisable after the expiration of five years from the date the
               option is granted. Upon exercise no fractional shares of Common
               Stock shall be issued or transferred and no payments shall be
               made in lieu of fractional shares. No shares of Common Stock
               shall be issued or delivered until full payment therefor has been
               made. No option may be exercised for fewer than the lesser of (i)
               500 shares of Common Stock or (ii) all remaining shares of Common
               Stock subject to the option.

          (f)  Notice of Exercise. Options may be exercised only by delivery to
               the Company of a written notice and exercise agreement in a form
               approved by the Board, stating the number of shares of Common
               Stock being purchased, the restrictions imposed on the shares 


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<PAGE>

               of Common Stock and such representations and agreements regarding
               the Optionee's investment intent and access to information as may
               be required by the Company to comply with applicable securities
               laws, together with payment in full of the exercise price for the
               number of shares of Common Stock being purchased.

          (g)  Payment. Payment for the shares of Common Stock may be made (i)
               in cash, (ii) by surrender of shares of Common Stock having a
               Fair Market Value equal to the exercise price of the option or
               (iii) by any combination of the foregoing where approved by the
               Board in its sole discretion; provided, however, in the event of
               payment for the shares of Common Stock by method (ii) above, the
               shares of Common Stock so surrendered, if originally issued to
               the Optionee upon exercise of an option(s) granted by the
               Company, shall have been held by the Optionee for more than six
               months.

          (h)  Purchase for Investment. If the shares of Common Stock subject to
               an option have not been registered under the Securities Act of
               1933, as amended ("Securities Act"), the Board shall have the
               right to require, as a condition to any exercise of the option,
               such representations or agreements as counsel for the Company may
               consider appropriate to avoid violation of such Act, including
               but not limited to the representation that any and all shares of
               Common Stock purchased upon exercise of the option will be
               purchased for investment and not with a view to the distribution
               or resale thereof and to agree that such shares will not be sold
               except in accordance with such restrictions or limitations as may
               be set forth in the Stock Option Agreement or as may be imposed
               by law.

          (i)  Death or Voluntary or Involuntary Termination. In the event of
               death of the Optionee or voluntary or involuntary termination of
               directorship with the Company of the Optionee, such option may,
               subject


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<PAGE>

               to the provisions of this Plan and any restrictions or
               limitations as are determined by the Board, be exercised as to
               those optioned shares in respect of which such option has not
               previously been exercised, but only to the extent that such
               option could be exercised by the Optionee on the date of such
               death or voluntary or involuntary termination of directorship
               with the Company (whichever is the applicable case):

                    i)   in the event of the death of the Optionee, then by his
                         or her executor or administrator, or by the person or
                         persons to whom the option is transferred by will or
                         the applicable laws of descent and distribution, within
                         twelve months from the date of death, but in no event
                         subsequent to the expiration date of the option; or

                    ii)  in the event of the Optionee's voluntary or involuntary
                         termination of directorship with the Company, then by
                         the Optionee within twelve months from the date of
                         termination, but in no event subsequent to the
                         expiration date of the option.

9.   Privileges of Stock Ownership.

          No Optionee shall have any of the rights of a shareholder with respect
to any shares of Common Stock subject to an option until the option has been
validly exercised. No adjustment shall be made for dividends or distributions or
other rights for which the record date is prior to the date of exercise, except
as provided in this Plan.

10.  Adjustment of Option Shares.

          In the event that the number of outstanding shares of Common Stock is
changed by a stock dividend, stock split, reverse stock split, combination,
reclassification or similar change in the 


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<PAGE>

capital structure of the Company without consideration, the number of shares of
Common Stock available under this Plan and the number of shares of Common Stock
subject to outstanding options and the exercise price per share of such options
shall be proportionately adjusted, subject to any required action by the Board
or shareholders of the Company and compliance with applicable securities laws;
provided, however, that no certificate or scrip representing fractional shares
shall be issued upon exercise of any option and any resulting fractions of a
share of Common Stock shall be ignored.

11.  Compliance with Laws.

          The grant of options and the issuance of shares upon exercise of any
options shall be subject to and conditioned upon compliance with all applicable
requirements of law, including without limitation compliance with the Securities
Act, compliance with all applicable state securities laws and compliance with
the requirements of any stock exchange on which the shares may be listed. The
Company shall be under no obligation to register the shares with the Securities
and Exchange Commission or to effect compliance with the Securities Act or with
the registration or qualification requirement of any state securities laws or
stock exchange.

12.  Restrictions on Shares.

          At the discretion of the Board, the Company may reserve to itself or
its assignee(s) in the Stock Option Agreement (a) a right of first refusal to
purchase any shares of Common Stock that an Optionee (or a subsequent
transferee) may propose to transfer to a third party and (b) a right to
repurchase any or all shares of Common Stock held by an Optionee upon the
Optionee's termination of directorship with the Company for any reason within a
specified time as determined by the Board at the time of grant at (i) the
Optionee's original purchase price, (ii) the Fair Market Value of such shares of
Common Stock as determined by the Board in good faith or (iii) a price
determined by a provision set forth in the Stock Option Agreement.


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<PAGE>

13.  Change of Control.

          Notwithstanding any contrary terms in the grant of options hereunder,
in the event of a Change of Control (as defined herein), all outstanding options
shall accelerate and become immediately fully exercisable. For purposes of this
Plan, a "Change In Control" shall mean (i) the sale or other disposition to a
person, entity or group (as such term is defined in Rule 13d-5 under the
Exchange Act) of 50% or more of the Company's consolidated assets, (ii) the
acquisition of 50% or more of the outstanding shares of Common Stock by a person
or group (as such term is defined in Rule 13d-5) or (iii) if the majority of the
Board consists of persons other than Continuing Directors (as defined herein).
The term "Continuing Director" shall mean any member of the Board on the
effective date of this Plan and any other member of the Board who shall be
recommended or elected to succeed or become a Continuing Director by a majority
of the Continuing Directors who are then members of the Board.

14.  Amendment or Termination of Plan.

          The Board may at any time terminate or amend this Plan in any respect
(including, but not limited to, any form of grant, agreement or instrument to be
executed pursuant to this Plan); provided, however, that shareholder approval
shall be required to be obtained by the Company if required to comply with the
listed company requirements of The Nasdaq National Market or of a national
securities exchange on which the shares of Common Stock are traded, or other
applicable provisions of state or federal law or self-regulatory agencies;
provided, further, that no amendment of this Plan may adversely affect any then
outstanding options or any unexercised portions thereof without the written
consent of the Optionee.

15.  Term of Plan.

          No option shall be granted pursuant to this Plan on or after December
31, 2001, but options theretofore granted may extend beyond that date and the
terms of this Plan shall continue to apply to such options and to any shares of
Common Stock acquired upon exercise thereof.


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<PAGE>

16.  Applicable Law.

          The validity, interpretation and enforcement of this Plan shall be
governed in all respects by the laws of the State of Florida and the United
States of America.

17.  Issuance of Shares.

          The shares of Common Stock, when issued and paid for pursuant to the
options granted hereunder, shall be issued as fully paid and non-assessable
shares.

18.  Withholding Taxes.

          Whenever under this Plan shares are to be issued in satisfaction of
the exercise of options granted thereunder, the Company shall have the right to
require the recipient to remit to the Company an amount sufficient to satisfy
federal, state and local withholding tax requirements prior to the delivery of
any certificate or certificates for such shares.

19.  Transferability of Options.

          An option may be sold, pledged, assigned, hypothecated, transferred or
disposed of as determined by the Board and as set forth in a Stock Option
Agreement with an Optionee.

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