**Exhibit10.2**THIS SECURED PROMISSORY NOTE (THIS “NOTE’) WAS ACQUIRED FOR INVESTMENT ONLY AND NOT FORRESALE. THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANYSTATE SECURITIES LAW (COLLECTIVELY, THE “SECURITIES LAWS”).THIS NOTE IS NON-NEGOTIABLE AND MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR HYPOTHECATED (A)WITHOUT MAKER’S (AS HEREINAFTER DEFINED) PRIOR WRITTEN CONSENT, AND (B) UNLESS (1) LENDER (ASHEREINAFTER DEFINED) FIRST REGISTERS THIS NOTE UNDER THE SECURITIES LAWS, OR (2) MAKER SHALL HAVERECEIVED AN OPINION OF COUNSEL SATISFACTORY TO MAKER THAT REGISTRATION UNDER THE SECURITIES LAWS ISNOT REQUIRED.**SECURED PROMISSORY NOTE**$2,837,087.67 July 27, 2006          **FOR VALUE RECEIVED**, Standard Management Corporation, an Indiana corporation (“*Maker*”),hereby promises to pay to Michael G. Browning (“*Lender*”), on or before the Maturity Date,the principal sum of Two Million Eight Hundred Thirty-seven Thousand Eighty-seven and 67/100Dollars ($2,837,087.67), together with interest on the portion thereof from time to timeoutstanding at the rate of twelve percent (12%) per annum from the date hereof until maturity(whether by acceleration or otherwise) and at the rate of 20% per annum from and after maturity(whether by acceleration or otherwise) and until paid in full. Maker shall pay these amountswithout relief from valuation and appraisal laws.ARTICLE I.TERMS OF PAYMENTSECTION 1.01 Prepayment During Term.          Maker may prepay this Note in whole or in part at any time and from time to time withoutpremium, penalty or other charge or cost. All payments and prepayments shall be applied (a) first,to amounts due and payable to Lender under the Fee Letter dated July 26, 2006, from Maker to Lender(the “*Fee Letter*”), (b) second, to all accrued costs and expenses that Maker is obligatedto pay or for which Maker is obligated to reimburse Lender hereunder; (c) third, to accrued andunpaid interest; and (c) fourth, to the reduction of principal.SECTION 1.02 Payments and Computations.          (a) Maker shall make payment under this Note in lawful money of the United States toLender at Lender’s address stated in Section 3.06 or to such other address as Lender may from timeto time designate to Maker in writing.          (b) Interest on the principal sum of the Note shall accrue on the basis of theactual number of days elapsed over a year consisting of 365 or 366 days, as appropriate.          (c) Whenever any payment to be made hereunder is stated to be due on a day otherthan a Business Day (as hereinafter defined), such payment shall be made on the next succeeding
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Business Day, and such extension of time shall be included in the computation of interest.“Business Day” means a day other than a Saturday or Sunday or a government or bank holiday on whichbanks generally are closed in the State of Indiana.ARTICLE II.SECURITY          This Note and Maker’s obligations hereunder are secured by (i) a Guaranty of even dateherewith executed by Rainier Home Health Care Pharmacy, a Washington corporation(“*Rainer*”), Precision Healthcare, Inc., a Tennessee corporation (“*Precision*”), LongTerm Rx, Inc., an Indiana corporation (“*Long Term Rx*”), Home Med Channel, Inc., an Indianacorporation (“*Home Med*”), Holland Compounding Pharmacy, Inc., a Washington corporation(“*Holland CP*”), and Holland Drug Store, Inc., a Washington corporation (“*Holland**,*”and together with Rainier, Precision, Long Term Rx, Home Med, and Holland CP, the“*Guarantors*”) in favor of Lender, (ii) a Security Agreement of even date herewithencumbering certain personal property of the Guarantors as described therein (the “SecurityAgreement”), and (ii) Pledge Agreements of even date herewith pledging the securities of theGuarantors (the “*Pledge Agreements*” and together with this Note, the Fee Letter, theGuaranty, and the Security Agreement, the “*Loan Documents*”).ARTICLE III.GENERAL PROVISIONSSECTION 3.01 Maturity Date.          The indebtedness evidenced by this Note shall mature and shall be due and payable in full onthe earliest to occur of the following (the *“**Maturity Date**”):*          (a) September 15, 2006;          (b) the date of consummation of the sale of the assets of Rainier to Omnicare, Inc. pursuantto the terms of the proposed Asset Purchase Agreement dated July 28, 2006, among Rainier, Maker,and Omnicare, Inc. (the “*APA*”);          (c) August 3, 2006, if the APA has not been executed by, and became fully enforceable againsteach of the parties thereto by that date; and          (d) the date of termination of the APA.SECTION 3.02 Event of Default.          The occurrence of any of the following events shall constitute an “Event of Default”hereunder:          (a) Maker, any Guarantor, or U.S. Health Services Corp. files a petition inbankruptcy (or has an involuntary bankruptcy petition filed against it), make an assignment for thebenefit of creditors, is adjudged a bankrupt, or seeks, agrees or has appointed a receiver or othercustodian under applicable insolvency law.
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          (b) The occurrence of any “Event of Default” as such term is defined in theGuaranty, the Security Agreement, or either of the Pledge Agreements.          (c) Any Guarantor pays, or Maker or U.S. Health Services Corp. accepts, any dividendor distribution on the capital stock of any Guarantor, or any Guarantor shall redeem, repurchase,or otherwise acquire or retire any of its capital stock without the prior written consent ofLender.SECTION 3.03 Acceleration on Default.          During the continuance of an Event of Default, the entire outstanding principal balancehereof, all accrued but unpaid interest hereunder and all other amounts owing hereunder but unpaidshall, at the option of Lender, become immediately due and payable. Failure by Lender to exercisesuch option shall not be a waiver of the right to do so at any future time for the certain defaultgiving rise to Lender’s right to accelerate or for any other default.SECTION 3.04 Waiver of Notice, Etc.          Maker and all other persons, partnerships, corporations or other legal entities liable now orat any time for the payment of the indebtedness evidenced hereby expressly waive all notice, demandfor payment, presentment for payment, protest and notice of protest, notice of intent toaccelerate, notice of acceleration and diligence in collection, and agree that the time of saidpayment or any part thereof may be extended by Lender, and further agree that the real orcollateral security or any part thereof may be released by Lender without in any way modifying,altering, releasing, affecting or limiting any liens or security interests arising under theSecurity Agreement or Pledge Agreements. The failure of Lender to exercise any of his rights underthis Note in any particular instance shall not constitute a waiver of such rights in that or in anysubsequent instances.SECTION 3.05 Compliance with Usury Laws.          The provisions of this Note are hereby limited so that in no contingency or event shall theamount paid or agreed to be paid by Maker for the use, forbearance or detention of the sumsevidenced by this Note exceed the maximum amount permissible under applicable law. If theperformance or fulfillment of any provision of this Note, or of any other agreement between Makerand Lender, should involve or purport to require any payment in excess of the limit prescribed bylaw, then the obligation to be performed or fulfilled is hereby reduced to the limit of suchvalidity, and if Lender should ever receive as interest an amount that would exceed the highestlawful rate, then the amount that would be excessive interest shall be applied to the reduction ofprincipal and shall not be counted as interest.SECTION 3.06 Notices.          All notices and other communications hereunder shall be in writing, addressed to the intendedrecipient as set forth below:       If to Lender: Mr. Michael G. Browning    c/o Browning Investments, Inc.    6100 West 96th Street    Suite 250    Indianapolis, IN 46278
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       and copy to: Baker & Daniels LLP    300 North Meridian Street, Suite 2700    Indianapolis, IN 46204    Facsimile No.: 317-237-1000    Attention: James M. Carr       If to Maker: Standard Management Corporation    10689 N. Pennsylvania St.    Indianapolis, IN 46280    Attention: Ronald D. Hunter    Facsimile No.: 317-574-6227       and copy to: Sommer Barnard    One Indiana Square, Suite 3500    Indianapolis, IN 46204    Attention: Robert J. Hicks    Facsimile No.: 317-713-3699Notices will be deemed given when delivered by registered or certified United States mail, postageprepaid, to the appropriate party at its address shown above, or when delivered in person, bycommercial courier, overnight delivery service, or confirmed facsimile transmission, or whendelivery by any method is properly tendered but refused. Either party may change such party’saddress for notices by giving notice to the other party in accordance with this section, but nosuch change of address will be effective as against any person without actual knowledge of thechange.SECTION 3.07 Governing Law.          The validity and effect of this Note shall be governed by the laws of the State of Indiana,without regard to its conflicts of law principles.SECTION 3.08 Costs of Enforcement.          On demand, Maker shall pay or reimburse Lenders for the payment of any reasonable costs orexpenses (including reasonable outside attorneys’ fees and disbursements) actually expended byLenders in connection with or incidental to (a) any Event of Default hereunder, or (b) thecollection of the indebtedness evidenced by this Note or the Fee Letter, and exercise orenforcement by or on behalf of Lender of any of his rights or remedies, or of Maker’s orGuarantor’s obligations, under this Note or any of the other Loan Documents.SECTION 3.09 Time of Essence.          Time shall be of the essence in the payment and performance by Maker of all of its obligationsunder this Note.
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SECTION 3.10 No Oral Modification.          This Note may not be amended, cancelled, discharged, extended or modified except in a writingexecuted by the party against whom enforcement of any waiver, change, modification or discharge issought.          **IN WITNESS WHEREOF**, Maker has executed this Secured Promissory Note as of the date first abovewritten.      “**MAKER**”