EXHIBIT10.36**EXHIBIT A****STOCK OPTION AGREEMENT**made as of the October 27, 2003 between **NATIONAL MEDICAL HEALTH CARDSYSTEMS, INC.,**a Delaware corporation (the “Company”), and Mark Adkison (Optionee”).**WHEREAS,**the Optionee is an employee of the Company or a subsidiary thereof;**WHEREAS,**the Company desires to provide to the Optionee an additional incentive to promotethe success of the Company;**NOW, THEREFORE,**in consideration of the foregoing, the Company hereby grants to the Optionee(the “Grant”) the right and option to purchase Common Shares of the Company under and pursuant tothe terms and conditions of the 1999 Stock Option Plan (the “Plan”) and upon and subject to thefollowing terms and conditions:     1. **GRANT OF OPTION.**The Company hereby grants to the Optionee the right and option (the“Option”) to purchase Fifty (50,000) thousand Common Shares of the Company (the “Option Shares”)during the following periods:          (a) All or any part of sixteen thousand six hundred and sixty seven (16,667) Common Shares maybe purchased during the period commencing one year from the date hereof and terminating at 5:00 P.M.on October ___, 2013 (the “Expiration Date”).          (b) All or any part of sixteen thousand six hundred and sixty seven (16,667) Common Shares maybe purchased during the period commencing two years from the date hereof and terminating at 5:00P.M. on the Expiration Date.          (c) All or any part of sixteen thousand six hundred and sixty six (16,666) Common Shares maybe purchased during the period commencing three years from the date hereof and terminating at 5:00P.M. on the Expiration Date.     2. **NATURE OF OPTION.**Such Options to purchase the Option Shares are intended to meet therequirements of Section 422 of the Internal Revenue Code of 1986, as amended, relating to“incentive stock options”.     3. **EXERCISE PRICE.** Theexercise price of each of the Option Shares shall be13.59 ($    ) dollars (the “Option Price”).     4. **EXERCISE OF OPTIONS.** The Option shall be exercised in accordance with the provisions of thePlan. As soon as practicable after the receipt of notice of exercise (in the form annexed hereto asExhibit A) and payment of the Option Price as provided for in the Plan, the Company shall tender tothe Optionee certificates issued in the Optionee’s name evidencing the number of Option Shares coveredthereby.
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     5. **TRANSFERABILITY.**The Option shall not be transferable other than by will or the laws ofdescent and distribution and, during the Optionee’s lifetime, shall not be exercisable by anyperson other than the Optionee.     6. **CHANGE IN CONTROL.**In the event of a Change in Control (as definedin the Employment Agreement), any Options granted hereunder which have not vested as of the date ofthe Change in Control shall automatically vest on such date, provided that no acceleration ofexercisability shall occur with respect to an outstanding Option if and to the extent such Optionis, in connection with the Change in Control, to be assumed or otherwise continued in full force oreffect by the successor entity (or parent thereof) pursuant to the terms of the Change in Controltransaction.     7. **INCORPORATION BY REFERENCE.**The terms and conditions of the Plan are herebyincorporated by reference and made a part hereof.     8. **NOTICES.**Any notice or other communication given hereunder shall be deemed sufficient if inwriting and hand delivered or sent by registered or certified mail, return receipt requested,addressed to the Company, 26 Harbor Park Drive, Port Washington, New York 11050, Attention:Jonathan Friedman and to the Optionee, at the address indicated below. Notices shall be deemed tohave been given on the date of hand delivery or mailing, except notices of change of address, whichshall be deemed to have been given when received.     9. **BINDING EFFECT.**This Agreement shall be binding upon and inure to the benefit of theparties hereto and their respective legal representatives, successors and assigns.     10. **ENTIRE AGREEMENT.**This Agreement, together with the Plan, contains the entireunderstanding of the parties hereto with respect to the subject matter hereof and may be modifiedonly by an instrument executed by the party sought to be charged.     **IN WITNESS WHEREOF,**the parties have executed this Agreement as of the day and yearfirst above written.     **NATIONAL MEDICAL HEALTH**  **CARD SYSTEMS, INC.**  By:     /s/ James Bigl               James Bigl, CEO     /s/ Mark A. Adkison               Signature of Optionee     Mark A. Adkison               Name of Optionee
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**EXHIBIT A****NATIONAL MEDICAL HEALTH CARD SYSTEMS, INC.**     a. OPTION EXERCISE FORM          The undersigned hereby irrevocably elects to exercise the within Optiondated                      tothe extent of purchasing                      Common Shares of National Medical Health Card Systems, Inc.The undersigned hereby makes a payment of $                     in payment therefore.           Name of Optionee           Signature of Optionee           Address of Holder           Date
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