Document:

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                                                                    EXHIBIT 10.2

                           STOCK ACQUISITION AGREEMENT

        THIS STOCK ACQUISITION AGREEMENT (the "Agreement"), dated as of
September 11, 2000, is made by and among SODEXHO ALLIANCE, S.A., a French
societe anonyme ("Sodexho"); JUVENILE AND JAIL FACILITY MANAGEMENT SERVICES,
INC., a Tennessee corporation ("JJFMS") and successor by merger to Juvenile and
Jail Facility Services, LLC, a Tennessee limited liability company ("JJFMS
LLC"); CORRECTIONS CORPORATION OF AMERICA (U.K.) LIMITED, a company incorporated
in England and Wales whose registered number is 2147489 ("CCA UK" and together
with JJFMS, "Sellers"); PRISON REALTY TRUST, INC., a Maryland corporation,
formerly known as Prison Realty Corporation ("Prison Realty") and successor by
merger to Corrections Corporation of America, a Tennessee corporation ("Old
CCA"); CORRECTIONS CORPORATION OF AMERICA, a Tennessee corporation formerly
known as Correctional Management Services Corporation ("CCA"), and PRISON
MANAGEMENT SERVICES, INC., a Tennessee corporation ("PMSI") and successor by
merger to Prison Management Services, LLC, a Tennessee limited liability
company.

                                R E C I T A L S:

        A. On December 31, 1998, Old CCA contributed certain assets to JJFMS LLC
in consideration for 100% of the non-voting membership interests of JJFMS LLC.
The terms and conditions of such exchange were set forth in certain Contribution
Agreements dated December 31, 1998 (the "Contribution Agreements"). Included
among the assets contributed to JJFMS LLC pursuant to the Contribution
Agreements were: (i) 22,500 "C" class shares in the capital of Corrections
Corporation of Australia Pty. Ltd. A.C.N. 010 921 641, an Australia corporation
("CCA Australia"), which shares collectively represent fifty percent (50%) of
the issued and outstanding shares of CCA Australia (the "CCA Australia Shares");
and (ii) one hundred percent (100%) of the capital stock of CCA UK. The assets
of CCA UK included: (i) 5000 "A" Ordinary Shares and 2500 "B" Ordinary Shares in
the capital stock of U.K. Detention Services Limited, a company incorporated in
England and Wales ("UKDS") whose registered number is 2147491, which shares
collectively represent fifty percent (50%) of the issued and outstanding shares
of UKDS (collectively, the "UKDS Shares"); and (ii) 50% of the issued and
outstanding shares in the capital of Agecroft Prison Management Limited, a
company incorporated in England and Wales ("APM").

        B. On December 31, 1998, JJFMS LLC was merged with and into JJFMS, with
JJFMS being the surviving corporation, pursuant to which the non-voting
membership interests of JJFMS LLC were converted into shares of non-voting
common stock of JJFMS.

        C. On December 31, 1998, Old CCA was merged with and into Prison Realty,
with Prison Realty being the surviving corporation. As the result of the merger
of Old CCA with Prison Realty, Prison Realty owns one hundred percent (100%) of
the non-voting stock of JJFMS. Prison Realty has undertaken a comprehensive
restructuring designed to address its current liquidity and capital constraints,
simplify its corporate structure and satisfy certain conditions of its recently
amended bank credit indebtedness which restructuring contemplates a merger of
each of JJFMS, PMSI and CCA with and into wholly-owned subsidiaries of Prison
Realty.

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        D. Sodexho desires to acquire from CCA UK, and CCA UK desires to sell to
Sodexho, the UKDS Shares, upon and subject to the terms and conditions contained
in this Agreement.

        E. Sodexho desires to acquire from JJFMS, and JJFMS desires to sell to
Sodexho, the CCA Australia Shares, upon and subject to the terms and conditions
contained int his Agreement.

        F. In order to facilitate the purchase and sale of the CCA Australia
Shares and the UKDS Shares, JJFMS, CCA UK and Sodexho have entered into that
certain Escrow Agreement of even date herewith and attached hereto as Exhibit A
(the "Escrow Agreement") providing for the delivery and deposit of the Purchase
Price, as hereinafter defined, and the certificates representing the CCA
Australia Shares and the UKDS Shares with the Escrow Agents set forth therein
(the "Escrow Agents"), pending the Closing, as hereinafter defined, of the
purchase and sale.

        G. In connection with the purchase and sale of the CCA Australia Shares
and the UKDS Shares, immediately after such purchase and sale, Sodexho desires
to grant to JJFMS and JJFMS desires to accept the grant of: (i) an option to
purchase fifty percent(50%) of the UKDS Shares which would represent twenty-five
percent (25%) of the aggregate issued and outstanding shares of UKDS (the "UKDS
Option Shares"); and (ii) an option to purchase fifty percent (50%) of the CCA
Australia Shares which would represent twenty-five percent (25%) of the
aggregate issued and outstanding shares of CCA Australia (the "CCA Option
Australia Shares" and, collectively with the UKDS Option Shares, the "Option
Shares"), pursuant to the terms and conditions of that certain Option Agreement
attached hereto as Exhibit B.

        In consideration of the mutual promises, covenants and agreements herein
contained, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

                                    ARTICLE I

                       ESCROW; PURCHASE AND SALE OF SHARES

        1.01. ESCROW. Within five (5) business days from the date hereof,
Sodexho agrees to deliver and deposit the Purchase Price, and each of JJFMS and
CCA UK agrees to deliver the CCA Australia Shares and the UKDS Shares,
respectively, to the Escrow Agents in accordance with the Escrow Agreement. The
parties hereto agree to make such reasonable changes to the Escrow Agreement as
maybe required by the Escrow Agents.

        1.02. TRANSFER OF UKDS SHARES. Subject to all of the terms and
conditions of this Agreement, at the Closing, CCA UK hereby agrees to sell,
transfer and convey to Sodexho, and Sodexho hereby agrees to purchase and
acquire from CCA UK, free and clear of all liens, claims, charges, restrictions,
security interests, equities, proxies, pledges and encumbrances of any kind, the
UKDS Shares in exchange for the Purchase Price set forth in Section 2.01 hereof.

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        1.03. TRANSFER OF CCA AUSTRALIA SHARES. Subject to all of the terms and
conditions of this Agreement, at the Closing, JJFMS hereby agrees to sell,
transfer and convey to Sodexho, and Sodexho agrees to purchase and acquire from
JJFMS, free and clear of all liens, claims, charges, restrictions, security
interests, equities, proxies, pledges and encumbrances of any kind, the CCA
Australia Shares in exchange for the Purchase Price set forth in Section 2.01
hereof (the UKDS Shares and the CCA Australia Shares are hereinafter
collectively referred to as the "Shares").

                                   ARTICLE II

                                  CONSIDERATION

        2.01. PURCHASE PRICE. The aggregate purchase price for the Shares shall
be Six Million Four Hundred Thousand Dollars, U.S. ($6,400,000) (U.S.) (the
"Purchase Price") of which (i) Three Million Two Hundred Thousand Dollars
($3,200,000) (U.S.) shall be allocated to the UKDS Shares and (ii) Three Million
Two Hundred Thousand Dollars ($3,200,000) (U.S.) shall be allocated to the CCA
Australia Shares. The Purchase Price shall be paid by Sodexho to JJFMS at the
Closing, by bank wire transfer or in other immediately available funds.

        2.02. COMPANY OBLIGATIONS. By entering into this Agreement, Sodexho
understands and agrees that, from and after the Closing, Sodexho shall discharge
any liability incurred by JJFMS, CCA UK, Prison Realty or CCA under the
documents described in Schedule 2.02 hereof, shall cooperate with CCA UK, JJFMS
and CCA in obtaining from the requisite governmental consents to the assumption
by Sodexho of such liability and shall indemnify JJFMS, CCA UK and/or CCA in
respect thereof.

                                   ARTICLE III

                       CLOSING; OBLIGATIONS OF THE PARTIES

        3.01. CLOSING DATE. The closing (the "Closing") shall take place and be
effective for all purposes at 10:00 a.m., local time, on October 16, 2000 at the
offices of JJFMS or at such other time, sooner or later than October 16, 2000
but prior to March 31, 2001, as all the conditions to Closing set forth in
Articles VIII and IX herein have been satisfied or at such other time and place
as the parties hereto mutually agree (the "Closing Date").

        3.02.  OBLIGATIONS OF THE PARTIES AT THE CLOSING.

        (a)    At the Closing, Sodexho, JJFMS and CCA UK shall provide the
               Escrow Agents with joint written notice directing said Escrow
               Agents to complete the actions set out in the following clauses
               (i) through (iii):

               (i)     The payment of the Purchase Price as specified in Section
                       2.01 hereof to JJFMS.

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               (ii)    The delivery of the share certificate(s) issued by UKDS
                       representing the UKDS Shares, with duly executed stock
                       powers, to Sodexho.

               (iii)   The delivery of the share certificate(s) issued by CCA
                       Australia representing the CCA Australia Shares, with
                       duly executed stock powers, to Sodexho.

        (b)    At the Closing, the following events set out in clauses (i)
               through (iv) shall occur:

               (i)     Sellers shall procure the delivery to Sodexho of duly
                       executed transfers of all of the Shares in favor of
                       Sodexho or its nominee(s).

               (ii)    Sellers shall deliver to Sodexho any waiver, consent or
                       other document which Sodexho may require to obtain a good
                       title to the Shares registered in the name of Sodexho or
                       its nominee(s), including any Power of Attorney under
                       which any document required to be delivered under this
                       Agreement has been executed.

               (iii)   JJFMS shall deliver signed resignations of all persons
                       who are CCA-designated directors and officers (other
                       than T. Don Hutto) of UKDS and CCA Australia.

               (iv)    Sellers, Prison Realty, CCA and Sodexho shall deliver
                       certified copies of resolutions of their respective board
                       of directors and of the majority of the voting
                       shareholders of JJFMS approving execution and delivery of
                       this Agreement and consummation of the transactions
                       contemplated hereby.

               (v)     Copies of all consents of third parties and governmental
                       bodies and agencies necessary for the transfer of the
                       UKDS Shares and all such consents necessary for the
                       transfer of the CCA Australia Shares shall have been
                       furnished to Sodexho, it being understood that once the
                       consents necessary for the transfer of the UKDS Shares
                       have been obtained the Closing shall proceed with respect
                       to the transfer of said UKDS Shares (assuming the other
                       conditions to the transfer of said UKDS Shares shall have
                       been satisfied) and it being understood that once the
                       consents necessary for the transfer of the CCA Australia
                       Shares have been obtained, the Closing shall proceed with
                       respect to the transfer of said CCA Australia Shares
                       (assuming the other conditions to the transfer of said
                       Shares shall have been satisfied), and if at any time the
                       third parties and governmental consents for the transfer
                       of all the Shares have been obtained and all other
                       conditions have been satisfied, then the Closing shall
                       occur with respect to the transfer of all the Shares of
                       UKDS and CCA Australia.

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                                   ARTICLE IV

                    REPRESENTATIONS AND WARRANTIES OF SELLERS

        In order to induce Sodexho to enter in this Agreement and consummate the
transactions contemplated hereby, Sellers hereby represent and warrant to
Sodexho as follows:

        4.01. ORGANIZATION AND GOOD STANDING. JJFMS is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Tennessee, United States and has full corporate power and authority to enter
into this Agreement and to carry out the transactions contemplated hereby. CCA
UK is a corporation duly incorporated, validly existing and in good standing
under the laws of England and has full power and authority to enter into this
Agreement and to carry out the transactions contemplated hereby.

        4.02. OWNERSHIP OF UKDS SHARES; VALIDITY AND ENFORCEABILITY. Sellers
represent and warrant that: (i) CCA UK is the legal and beneficial owner of the
UKDS Shares, free and clear of all liens, claims, charges, restrictions,
security interests, equities, proxies, pledges or encumbrances of any kind; (ii)
CCA UK has the full right, power, authority and capacity to sell and transfer
the UKDS Shares owned by CCA UK; and (iii) by virtue of the transfer of the UKDS
Shares to Sodexho at the Closing, Sodexho will obtain full title to such Shares,
free and clear of all liens, claims, charges, restrictions, security interests,
equities, proxies, pledges, or encumbrances of any kind.

        4.03. OWNERSHIP OF CCA AUSTRALIA SHARES; VALIDITY AND ENFORCEABILITY.
Sellers represent and warrant that: (i) JJFMS is the legal and beneficial owner
of the CCA Australia Shares, free and clear of all liens, claims, charges,
restrictions, security interests, equities, proxies, pledges or encumbrances of
any kind; (ii) JJFMS has the full right, power, authority and capacity to sell
and transfer the CCA Australia Shares owned by JJFMS; and (iii) by virtue of the
transfer of the CCA Australia Shares to Sodexho at the Closing, Sodexho will
obtain full title to such Shares, free and clear of all liens, claims, charges,
restrictions, security interests, equities, proxies, pledges, or encumbrances of
any kind, provided, however, that where any governmental consent, approval,
authorization or order is required, as contemplated herein, then any
representation or warranty by Sellers is deemed to be subject to the obtaining
of such consent, approval, authorization or order.

        4.04. CORPORATE POWER AND AUTHORITY: DUE AUTHORIZATION. Each of JJFMS
and CCA UK has full corporate power and authority, acting through its officers
who sign this Agreement, to execute and deliver this Agreement and to consummate
the transactions contemplated hereby. The board of directors of each of JJFMS
(and by a majority vote of the shareholders of JJFMS) and CCA UK has duly
approved and authorized the execution and delivery of this Agreement and the
consummation of the transactions contemplated hereby, and no other corporate
proceedings on the part of JJFMS or CCA UK are necessary to approve and
authorize the execution and delivery of this Agreement and each of the documents
to which JJFMS and/or CCA UK is a party constitutes, or will constitute when
executed and delivered, a valid and binding agreement of JJFMS and/or CCA UK, as
applicable, in each case enforceable in accordance with its terms.

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        4.05. NO VIOLATION. The execution and delivery of this Agreement by each
of JJFMS and CCA UK does not, and the consummation of the transactions
contemplated hereby will not: (a) violate or be in conflict with, or constitute
a default (or an event which, with notice or lapse of time, or both, would
constitute a default) with, or result in the termination of, or accelerate the
performance required by, or excuse performance by any person of any of its
obligations under, or cause the performance required by, or excuse performance
by any person of any of its liabilities under, any provision of, or result in
the creation of any lien or security interest under, any agreement, indenture,
instrument, lease, security agreement, mortgage or lien to which JJFMS or CCA UK
is a party or by which any of JJFMS's or CCA UK's assets or properties are
bound; (b) violate or be in conflict with any provision of the Charter or Bylaws
of JJFMS or the Articles of Association of CCA UK; (c) violate any order,
arbitration award, judgment, writ, injunction, decree, statute, rule or
regulation applicable to JJFMS or CCA UK; or (d) violate any other contractual
or legal obligation or restriction to which JJFMS and/or CCA UK is subject.

        4.06. CONSENTS AND APPROVALS. Sellers have obtained or will have
obtained prior to Closing, all consents, approvals, authorizations or orders of
third parties, including governmental authorities, necessary for the
authorization, execution and performance of this Agreement by Sellers.

        4.07. LITIGATION. There is no litigation at law or in equity pending or,
to the knowledge of any of the Sellers, threatened against any of the Sellers or
their respective subsidiaries with respect to the Shares or the consummation of
the transactions contemplated by this Agreement. To the knowledge of each of the
Sellers, there is no litigation at law or in equity threatened against Sodexho
or the Shares or the consummation of the transactions contemplated by this
Agreement except as disclosed by Prison Realty in documents filed with the U.S.
Securities and Exchange Commission prior to the date hereof.

        4.08. FULL DISCLOSURE. Neither the representations appearing in Article
IV of this Agreement, nor any schedule, exhibit, list, certificate or other
instrument and document furnished or to be furnished by Sellers to Sodexho
pursuant to this Agreement, contains any untrue statement of a material fact or
omits to state any material fact required to be stated herein or therein or
necessary to make the statements and information contained herein or therein not
misleading.

                                    ARTICLE V

             REPRESENTATIONS AND WARRANTIES OF PRISON REALTY AND CCA

        In order to induce Sodexho to enter in this Agreement and consummate the
transactions contemplated hereby, each of Prison Realty and CCA hereby represent
and warrant severally to Sodexho as follows:

        5.01. AUTHORITY. Each of Prison Realty and CCA has full power and
authority, acting through its officer or officers who signed this Agreement, to
execute, deliver, enter into and perform this Agreement and all agreements,
instruments and documents contemplated hereby and to carry

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out the transactions contemplated thereby. This Agreement is a valid and binding
obligation of each of Prison Realty and CCA enforceable against each in
accordance with its terms, subject to the limitations imposed by bankruptcy,
insolvency, moratorium or similar laws or provisions of general application, and
to the availability of equitable remedies (whether enforcement is sought in a
court of law or equity).

        5.02. NO VIOLATION. Neither the execution and delivery of this
Agreement, nor the carrying out of any of the transactions contemplated hereby,
will result in any violation of or be in conflict with any term of any agreement
or instrument or memorandum of understanding regarding settlement of litigation
to which either Prison Realty or CCA is a party or by which either is bound, or
of any law or governmental order, rule or regulation which is applicable to
Prison Realty or CCA or will result in the creation or imposition of any
security interest, mortgage, lien, encumbrance or charge upon any of the
properties or assets of Prison Realty or CCA. No consents or approvals of any
persons or entities, governmental or otherwise, are required which have not been
obtained (or which will not have been obtained on or prior to the Closing) in
respect of the execution and delivery of this Agreement on the part of Prison
Realty or CCA. The consummation of the transfer of the Shares pursuant to this
Agreement will not adversely affect Prison Realty's status as a real estate
investment trust under the Internal Revenue Code of 1986, as amended.

        5.03. LITIGATION. There is no litigation at law or in equity pending or,
to the knowledge of Prison Realty or CCA, threatened against Prison Realty or
CCA or their respective subsidiaries with respect to the Shares or the
consummation of the transactions contemplated by this Agreement. To the
knowledge of Prison Realty or CCA, there is no litigation at law or in equity
threatened against Sodexho or the Shares or the consummation of the transactions
contemplated by this Agreement except as disclosed by Prison Realty in documents
filed with the U.S. Securities and Exchange Commission prior to the date hereof.

        5.04. FULL DISCLOSURE. Neither the representations appearing in Article
V of this Agreement, nor any schedule, exhibit, list, certificate or other
instrument and document furnished or to be furnished by Prison Realty and CCA to
Sodexho pursuant to this Agreement, contains any untrue statement of a material
fact or omits to state any material fact required to be stated herein or therein
or necessary to make the statements and information contained herein or therein
not misleading.

                                   ARTICLE VI

                    REPRESENTATIONS AND WARRANTIES OF SODEXHO

        In order to induce Seller to enter in this Agreement and consummate the
transactions contemplated hereby, Sodexho hereby represents and warrants to
Sellers, Prison Realty and CCA as follows:

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        6.01. ORGANIZATION AND GOOD STANDING. Sodexho is a societe anonyme duly
organized, validly existing and in good standing under the laws of France and
has full corporate power and authority to enter into this Agreement and to carry
out the transactions contemplated hereby.

        6.02. AUTHORIZATION. The board of directors of Sodexho has taken all
action required to authorize the execution and delivery by Sodexho of this
Agreement and the consummation of the transactions contemplated hereby, and no
other corporate proceedings on the part of Sodexho are necessary to approve or
authorize the execution and delivery of this Agreement.

        6.03. VALID AND BINDING AGREEMENT. This Agreement and each of the
documents to which Sodexho is a party constitutes, or will constitute when
executed and delivered, a valid and binding agreement of Sodexho, enforceable
against Sodexho in accordance with its terms.

        6.04. NO VIOLATION. The execution and delivery of this Agreement by
Sodexho does not, and the consummation of the transactions contemplated hereby
will not: (a) violate or be in conflict with, or constitute a default (or an
event which, with notice or lapse of time or both, would constitute a default)
with, or result in the termination of, or accelerate the performance required
by, or excuse performance by any person of any of its obligations under, or
cause the performance required by, or excuse performance by any person of any of
its liabilities under any provision of, or result in the creation of any lien or
security interest under, any agreement, indenture, instrument, lease, security
agreement, mortgage or lien to which Sodexho is a party or by which it is bound;
(b) violate any order, arbitration award, judgment, writ, injunction, decree,
statute, rule or regulation applicable to Sodexho; or (c) violate any other
contractual or legal obligation or restriction to which Sodexho is subject.

        6.05. PURCHASE FOR INVESTMENT. Sodexho understands and agrees that the
Shares have not been registered under the securities laws of any jurisdiction.
Sodexho is acquiring the Shares of its own account and not with a view to, or
present intention of, distribution thereof in violation of the securities laws
of the United States or England or any state securities or blue sky law, and the
Shares will not be disposed of in contravention of such laws.

        6.06. PROFESSIONAL FEES. Sodexho has taken no action which would result
in the incurrence of any liability for investment banking, brokerage, finders,
agents or other fees, commissions, expenses or charges in connection with the
negotiation, preparation, execution and performance of this Agreement or the
consummation of the transactions contemplated hereby, and Sodexho does not know
of any claim for such a commission or fee.

        6.07. CONSENTS AND APPROVALS. Assuming the best efforts of Prison
Realty, JJFMS and CCA UK to cooperate in obtaining the requisite consents,
Sodexho has obtained, or will have obtained prior to Closing, all consents,
approvals, authorizations or orders of third parties, including governmental
authorities, necessary for the authorization, execution and performance of this
Agreement by Sodexho. Sodexho agrees that it will comply with the provisions of
the Stamp Act and

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the regulations thereunder of the State of Queensland and to pay to the office
of State Revenue any stamp duty payable on this Agreement with respect to the
CCA Australia Shares.

        6.08 FULL DISCLOSURE. Neither the representations appearing in Article
VI of this Agreement, nor any certificate or other instrument and document
furnished or to be furnished by Sodexho to the Sellers, Prison Realty or CCA
pursuant to this Agreement, contains any untrue statement of a material fact or
omits to state any material fact required to be stated herein or therein or
necessary to make the statements and information contained herein or therein not
misleading.

                                   ARTICLE VII

                       COVENANTS AND AGREEMENTS OF PARTIES

        The parties hereto agree that from the date hereof until the Closing,
and thereafter if so specified, each party will fulfill the following covenants
and agreements unless otherwise consented to by the other parties in writing:

        7.01. FURTHER ASSURANCES. At any time and from time to time after the
Closing, at the request of the other parties hereto and without further
consideration, each of Sellers, Prison Realty, and Sodexho will execute and
deliver such other instruments of sale, transfer, conveyance, assignment and
delivery and take such action as may reasonably be required by another party
hereto in order more effectively to transfer, convey and assign to Sodexho and
to place Sodexho in possession and control of, and to confirm Sodexho's title
to, the Shares, and to assist Sodexho in exercising all rights enjoying all
benefits with respect thereto.

        7.02. CONSENTS AND APPROVALS. Each of Sellers, Prison Realty and Sodexho
shall, in a timely, accurate and complete manner, take all necessary corporate
and other action and use all reasonable efforts to obtain all consents,
approvals, permits, licenses and amendments of agreements required to carry out
the transactions contemplated in this Agreement.

        7.03. OPTION. Sodexho agrees that immediately upon the acquisition of
the Shares pursuant hereto, it shall grant to JJFMS (i) an option to purchase
the UKDS Option Shares, and (ii) an option to purchase the CCA Australia Shares
pursuant to the Option Agreement.

        7.04 AMENDMENT OF AUSTRALIAN SHAREHOLDERS' AGREEMENT. The CCA Australia
Shareholders' Agreement is hereby amended, effective upon the Closing under this
Agreement, as follows:

        (a) The provisions of Sections 3 and 4 shall not apply to the purchase
of the shares of CCA Australia by Sodexho under this Agreement or the purchase
by JJFMS, its successor, or Prison Realty of shares of CCA Australia upon
exercise of the CCA Australia Option hereunder.

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        (b) The provisions of Sections 9 and 14 are hereby deleted.

        (c) The provisions of Section 10 (Non-Competition) are hereby amended to
read in their entirety as follows:

               "Section 10. Non-Competition

               (a) For all purposes of this Section 10, the term "Shareholder"
        shall include (in addition to all persons actually holding stock in the
        Corporation), for a period of three years from the date of the closing
        of the transactions contemplated by the Stock Acquisition Agreement as
        defined herein, (i) Juvenile and Jail Facility Management Services, Inc.
        ("JJFMS") and any Affiliate of JJFMS as the selling shareholder under
        the Stock Acquisition Agreement dated as of September 11, 2000 (the
        "Stock Acquisition Agreement") and as the holder of an option to
        purchase twenty five percent of the aggregate issued and outstanding
        shares of the Corporation (sometimes referred to as "CCA Australia")
        pursuant to that certain Option Agreement executed in connection with
        the closing of the transactions contemplated by the Stock Acquisition
        Agreement (the "CCA Australia Option"), and (ii) Prison Realty or any
        Affiliate of Prison Realty or any Affiliate of JJFMS (whether or not
        JJFMS is an Affiliate of Prison Realty at any time).

               (b) Each Shareholder agrees that except as otherwise provided
        herein, each will conduct all of its business with respect to the Prison
        Management Business in Australia exclusively with each other. For
        purposes of this Agreement, Prison Management Business means the (i)
        design, construction, financing and "full management" of detention or
        correctional facilities with or without custodial services, or any one
        of the four major activities of design, construction, financing and
        "full management," and/or (ii) the transportation of prisoners, and
        (iii) shall mean the design, construction, financing and "full
        management," or any of said four major activities, of immigration
        custodial facilities, police custodial facilities, court custodial
        facilities or services and secure training centers and facilities (such
        as juvenile training centers or facilities); it being understood that
        Sodexho may continue to provide food service, laundry, housekeeping,
        maintenance, etc. outside of the Corporation and that the provisions of
        such services by Sodexho at a rate of less than $12.00 (U.S.) (obtained
        by applying 3% inflation a year for six years) per inmate per day (as
        such amount may be increased by the Board of the Corporation from time
        to time) shall not constitute "full management" and shall not constitute
        the Prison Management Business. In order to give effect to this
        decision, the Shareholders agree that unless approved by the Board of
        Directors of the Corporation in writing or except as otherwise permitted
        pursuant to this Agreement as amended:

                   (A) neither Shareholders nor any of their respective
               Affiliates (each as defined in the CCA Australia Shareholders'

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               Agreement) will compete with the Corporation in the Prison
               Management Business in Australia.

                   (B) any third-party approach towards any Shareholder in
               relation to a Project (as defined in the CCA Australia
               Shareholders' Agreement) in Australia, whether in its individual
               capacity or as a Shareholder shall be immediately introduced to
               the Corporation. For purposes of this Section, a Project means
               any opportunity related to the Prison Management Business in
               Australia, such as requests (with respect to a particular
               facility) for proposals and bids to governmental agencies and
               consulting agencies with respect to the Prison Management
               Business.

                   (C) neither Shareholders nor any of their respective
               Affiliates, shall alone or jointly with others acquire any
               material interest (more than 10%) in any company which is a
               competitor of the Corporation in the Prison Management Business
               in Australia (other than competitors for which the revenues
               related to the prison management business constitute less than
               10% of the total revenues for such competitors).

               (c) The Shareholders agree that in the event of a breach of the
        provisions contained in this Section 10, in addition to any other
        remedies available to any Shareholder in breach of any such provision,
        the Shareholder in breach shall pay to the other Shareholder an amount
        equal to one year's annual revenues generated by the Prison Management
        Business which is the subject of such breach.

               (d) If any of the restrictions set forth in this Section 10
        (including, without limitation the provisions of clause (c) above)
        should for any reason be declared invalid by a court of competent
        jurisdiction, the validity or enforcement of the remainder of such
        restrictions and covenants shall not thereby be adversely affected. If
        any provision of this Section shall be adjudicated to be invalid or
        unenforceable, such provision shall be deemed deleted, but only to the
        operation of such provision in the particular jurisdiction in which such
        adjudication was made; provided, that, to the extent any such provision
        may be made valid and enforceable, in such jurisdiction by limitations
        on the scope of the activities, geographical area or time period
        covered, such provision shall be deemed limited to the extent, and only
        to that extent, necessary to make such provision enforceable to the
        fullest extent permissible under the laws and public policies applied in
        such jurisdiction.

               It is understood that the provisions of this Section 10 shall be
        binding upon Prison Realty and Sodexho, regardless of whether the
        provisions of this Section are agreed to in writing by CCA Australia;
        provided, however, that Prison Realty,

                                       11

<PAGE>   12

        Sodexho and JJFMS agree to cause CCA Australia to give a written
        undertaking of its agreement to be bound by this Section.

                (e) The use by CCA Australia or its shareholders of special
        purpose vehicles involving third party partners of CCA Australia or its
        shareholders for the purpose of facilitating the design, construction or
        development of a facility or Project to be managed by CCA Australia
        shall not be deemed a violation of the non-competition provisions of
        this Section 10, provided, however that such special purpose vehicle
        shall not engage in the full management portion of the Prison Management
        Business. In the event that Prison Realty or JJFMS or any permitted
        Affiliate of either purchases shares in CCA Australia, it shall be
        entitled to obtain a partnership interest or shares in each such special
        purpose vehicle formed after the date of such purchase of shares in CCA
        Australia, to the same extent of its percentage holding of capital stock
        in CCA Australia and at a purchase cost per share or partnership
        interest equal to the purchase cost per share or partnership interest
        paid by Sodexho, provided that after consultation with Sodexho, Prison
        Realty, JJFMS or any permitted Affiliate shall give joint and several
        guarantees of such projects (prospectively when it becomes such a
        shareholder) in connection with projects undertaken by such special
        purpose vehicle when Sodexho determines to give a guarantee (or had
        previously determined to give a guarantee prior to the date JJFMS or its
        successor becomes a shareholder), provided that Sodexho shall give a
        written undertaking that, as between Sodexho and such shareholder, such
        shareholder shall be responsible ultimately only for the percentage of
        such guarantee as is equal to such shareholder's percentage of the
        outstanding stock (or partnership interest) in the special purpose
        vehicle and Sodexho shall be responsible for the balance.

                (f) Sodexho will not form other companies in Australia to
        perform management services in the Prison Management Business, or if
        such formation is essential from a legal or business perspective, then
        JJFMS, its successor, or Prison Realty will have the right, if and when
        it becomes a shareholder in CCA Australia by exercising the CCA
        Australia Option, to acquire 25% of any such new management company at a
        purchase cost per share or partnership interest equal to any capital put
        in by Sodexho in any such company, provided that after consultation with
        Sodexho, JJFMS, its successor, or Prison Realty, as applicable shall
        give joint and several guarantees (both prospectively and retroactively
        when it becomes such a shareholder) in connection with projects
        undertaken by such companies (and not by any special purpose vehicle)
        when Sodexho determines to give a guarantee (or had previously
        determined to give a guarantee prior to the date Prison Realty becomes
        such a shareholder), and provided further that Sodexho shall give a
        written undertaking that, as between Sodexho and such shareholder, such
        shareholder shall be responsible ultimately only for the percentage of
        all such prospective and retroactive guarantees as is equal to such
        shareholder's percentage of the outstanding stock (or partnership
        interest) in such company, and Sodexho shall be responsible for the
        balance."

                                       12

<PAGE>   13

        (d) The provisions of Sections 10 and 11 shall apply to the parties
hereto for a period of three years from the Closing and shall thereafter apply
to all of Prison Realty, JJFMS or its successor and their Affiliates in each
case only if either or an Affiliate of either is a shareholder of CCA Australia.
If neither of them and none of their Affiliates is a shareholder in CCA
Australia after said three year period, then the provisions of Section 10 shall
not apply to any of them. Prison Realty and JJFMS shall be deemed a shareholder
for the purposes of Section 15 of the CCA Australia Shareholders' Agreement for
a period of three years from the Closing and the proviso to Section 15 of the
CCA Australia Shareholders' Agreement is hereby deleted.

        (e) The provisions of Section 13 (Board of Directors) are hereby amended
to read in their entirety as follows:

            "Section 13. Board of Directors. In the event of the exercise of
        the CCA Australia Option by JJFMS or its successor, JJFMS or its
        successor shall be entitled to one (1) nominee to the Board of Directors
        reasonably satisfactory to Sodexho. In the event of the exercise of the
        CCA Australia Option by JJFMS or its successor, Sodexho agrees (i) that
        in all elections for directors during the term of this Agreement,
        Sodexho shall vote all shares owned by it for the nominee of JJFMS or
        its successor."

        (f) A new Section 26 entitled "Miscellaneous" shall be added as follows:

            "Effective upon the Closing under the Stock Acquisition Agreement,
        and notwithstanding any other agreement to which Sodexho is a party or
        the charter or by-laws of CCA Australia, no management fee shall be
        payable to Prison Realty or any subsidiary or to JJFMS or any
        subsidiary. If Prison Realty or JJFMS becomes a shareholder in CCA
        Australia, after consultation with Sodexho (i) it shall give joint and
        several guarantees of Projects of CCA Australia (both prospectively and
        retroactively when it becomes a shareholder) in connection with Projects
        undertaken by CCA Australia (and not by any special purpose vehicle)
        when Sodexho determines to give a guarantee (or had previously
        determined to give a guarantee prior to the date JJFMS or its successor
        becomes a shareholder) and provided further that Sodexho shall give a
        written undertaking that, as between Sodexho and JJFMS or such other
        shareholder, JJFMS, or such other shareholder shall be responsible
        ultimately only for the percentage of such guarantee as is equal to
        JJFMS's or such other shareholder's percentage of the outstanding stock
        in CCA Australia, and Sodexho shall be responsible for the balance of
        such guarantee, and (ii) JJFMS or such other shareholder shall agree in
        writing to reimburse Sodexho for that percentage of any liability
        Sodexho may have with respect to then-still outstanding guarantees that
        were given while Prison Realty or JJFMS or any Affiliate of either holds
        the CCA Australia Option (prior to its exercise) as is equal to the
        percentage of the outstanding stock of CCA Australia held by JJFMS (or
        such other shareholder) after giving effect to the exercise of the CCA
        Australia Option)." Prison Realty

                                       13

<PAGE>   14

        agrees to guarantee the obligations of JJFMS (or whatever Affiliate
        exercises the CCA Australia Option and becomes a shareholder in CCA
        Australia) to deliver guarantees under the CCA Australia Shareholders
        Agreement.

        (g) JJFMS, by its signature to this Agreement, and each of Prison Realty
and PMSI by its signature to this Agreement, agree to be bound by the CCA
Australia Shareholders' Agreement, as amended, to the extent provided in this
Section 7.04, as if it were an original signatory thereof.

        7.05 AMENDMENT OF U.K. SHAREHOLDERS' AGREEMENT. The UKDS Shareholders'
Agreement is hereby amended, effective upon the Closing under this Agreement, as
follows:

        (a) The provisions of Sections 3 and 4 shall not apply to the purchase
of the shares of UKDS by Sodexho under this Agreement or the purchase by JJFMS,
its successor, or Prison Realty of shares of UKDS upon exercise of the UKDS
Option hereunder.

        (b) The provisions of Sections 8, 12 and 13 are hereby deleted.

        (c) The provisions of new Section 8 are hereby added as follows:

        "Section 8.   Non-Competition

            (a) For all purposes of this Section 8, the term "Shareholder"
        shall include (in addition to all persons actually holding stock in the
        Corporation), for a period of three years from the date of the closing
        of the transactions contemplated by the Stock Acquisition Agreement as
        defined herein, (i) Juvenile and Jail Facility Management Services, Inc.
        ("JJFMS") and any Affiliate of JJFMS as the parent of a selling
        shareholder under the Stock Acquisition Agreement dated as of September
        11, 2000 (the "Stock Acquisition Agreement") and as the holder of an
        option to purchase twenty five percent of the aggregate issued and
        outstanding shares of the Corporation (sometimes referred to as "UKDS")
        pursuant to that certain Option Agreement executed in connection with
        the closing of the transactions contemplated by the Stock Acquisition
        Agreement (the "UKDS Option"), and (ii) Prison Realty or any Affiliate
        of Prison Realty or any Affiliate of JJFMS (whether or not JJFMS is an
        Affiliate of Prison Realty at any time), and (ii) CCA U.K., the
        subsidiary of JJFMS as the selling shareholder of stock in UKDS.

            (b) Each Shareholder agrees that except as otherwise provided
        herein, each will conduct all of its business with respect to the Prison
        Management Business in the United Kingdom exclusively with each other.
        For purposes of this Section, Prison Management Business means the (i)
        design, construction, financing and "full management" of detention or
        correctional facilities with or without custodial services, or any one
        of the four major activities of design, construction, financing and
        "full management," and/or (ii) the transportation of prisoners, and
        (iii) shall

                                       14
<PAGE>   15

        mean the design, construction, financing and "full management," or any
        of said four major activities, of immigration custodial facilities,
        police custodial facilities, court custodial facilities or services and
        secure training centers and facilities (such as juvenile training
        centers or facilities); it being understood that Sodexho may continue to
        provide food service, laundry, housekeeping, maintenance, etc. outside
        of the Corporation and that the provisions of such services by Sodexho
        at a rate of less than $12.00 (U.S.) (obtained by applying 3% inflation
        a year for six years) per inmate per day (as such amount may be
        increased by the Board of the Corporation from time to time) shall not
        constitute "full management" and shall not constitute the Prison
        Management Business. In order to give effect to this decision, the
        Shareholders agree that unless approved by the Board of Directors of the
        Corporation in writing or except as otherwise permitted pursuant to this
        Agreement as amended:

                   (A) neither Shareholders nor any of their respective
               Affiliates (each as defined in the UKDS Shareholders' Agreement
               as amended) will compete with the Corporation in the Prison
               Management Business in the United Kingdom.

                   (B) any third-party approach towards any Shareholder in
               relation to a Project (as defined in the UKDS Shareholders'
               Agreement) in the United Kingdom, whether in its individual
               capacity or as a Shareholder, shall be immediately introduced to
               the Corporation. For purposes of this Section, a Project means
               any opportunity related to the Prison Management Business in the
               United Kingdom such as requests (with respect to a particular
               facility) for proposals and bids to governmental agencies and
               consulting agencies with respect to the Prison Management
               Business.

                   (C) neither Shareholders nor any of their respective
               Affiliates, shall alone or jointly with others acquire any
               material interest (more than 10%) in any company which is a
               competitor of the Corporation in the Prison Management Business
               in the United Kingdom (other than competitors for which the
               revenues related to the prison management business constitute
               less than 10% of the total revenues for such competitors).

               (c) The Shareholders agree that in the event of a breach of the
        provisions contained in this Section 8, in addition to any other
        remedies available to any Shareholder for breach of any such provision,
        the Shareholder in breach shall pay to the other Shareholder an amount
        equal to one year's annual revenues generated by the Prison Management
        Business which is the subject of such breach.

               (d) If any of the restrictions set forth in this Section 8
        (including, without limitation, the provisions of clause (c) above)
        should for any reason be declared

                                       15
<PAGE>   16

        invalid by a court of competent jurisdiction, the validity or
        enforcement of the remainder of such restrictions and covenants shall
        not thereby be adversely affected. If any provision of this Section
        shall be adjudicated to be invalid or unenforceable, such provision
        shall be deemed deleted, but only to the operation of such provision in
        the particular jurisdiction in which such adjudication was made;
        provided, that, to the extent any such provision may be made valid and
        enforceable, in such jurisdiction by limitations on the scope of the
        activities, geographical area or time period covered, such provision
        shall be deemed limited to the extent, and only to that extent,
        necessary to make such provision enforceable to the fullest extent
        permissible under the laws and public policies applied in such
        jurisdiction.

               (e) Nothing in Section 8 shall be deemed to preclude Agecroft
        Project Management Ltd. ("APM") from carrying on its business with
        respect to the Agecroft facility in the United Kingdom.

               (f) The use by UKDS or its Shareholders of special purpose
        vehicles involving third party partners of UKDS or its Shareholders for
        the purpose of facilitating the design, construction or development of a
        facility or Project to be managed by UKDS, shall not be deemed a
        violation of the non-competition provisions of this Section 8; provided,
        however, that such special purpose vehicle shall not engage in the full
        management portion of the Prison Management Business. In the event that
        Prison Realty or JJFMS or any permitted Affiliate of either exercises
        the UKDS Option to purchase shares in UKDS, it shall be entitled to
        obtain a partnership interest or shares in each such special purpose
        vehicle formed after the date of such purchase of shares in UKDS, to the
        same extent of its percentage holding of capital stock in UKDS and at a
        purchase cost per share or partnership interest equal to the purchase
        cost per share or partnership interest paid by Sodexho, provided that,
        after consultation with Sodexho, Prison Realty, JJFMS or any permitted
        Affiliate shall give joint and several guarantees of such projects
        (prospectively when it becomes such a shareholder) in connection with
        projects undertaken by such companies when Sodexho determines to give a
        guarantee (or had previously determined to give a guarantee prior to the
        date JJFMS or its successor become a shareholder), and provided further,
        that Sodexho shall give a written undertaking that, as between Sodexho
        and such shareholder, such shareholder shall be responsible ultimately
        only for the percentage of such guarantee as is equal to such
        shareholder's percentage of the outstanding stock (or partnership
        interest) in the special purpose vehicle and Sodexho shall be
        responsible for the balance.

               (g) Sodexho will not form other companies in United Kingdom to
        perform management services in the Prison Management Business, or if
        such formation is essential from a legal or business perspective, then
        JJFMS, its successor, or Prison Realty will have the right, if and when
        it becomes a shareholder in UKDS by exercising the UKDS Option, to
        acquire 25% of any such new management

                                       16
<PAGE>   17

        company at a purchase cost per share or partnership interest equal to
        any capital put in by Sodexho in any such company, provided that after
        consultation with Sodexho, JJFMS, its successor, or Prison Realty, as
        applicable shall give joint and several guarantees (both prospectively
        and retroactively when it becomes such a shareholder) in connection with
        projects undertaken by such companies (and not by any special purpose
        vehicle) when Sodexho determines to give a guarantee (or had previously
        determined to give a guarantee prior to the date Prison Realty becomes
        such a shareholder), and provided further that Sodexho shall give a
        written undertaking that, as between Sodexho and such shareholder, such
        shareholder shall be responsible ultimately only for the percentage of
        all such prospective and retroactive guarantees as is equal to such
        shareholder's percentage of the outstanding stock (or partnership
        interest) in such company, and Sodexho shall be responsible for the
        balance."

        (d) The provisions of Sections 8 and 9 shall apply to the parties hereto
for a period of three years from the Closing and shall thereafter apply to all
of Prison Realty, JJFMS, its successor and their Affiliates in each case, or CCA
U.K. if any of them or their Affiliates is a shareholder of UKDS. If none of
them and none of their Affiliates is a shareholder in UKDS after said three year
period, then the provisions of Section 8 shall not apply to any of them. Prison
Realty, JJFMS and CCA U.K. shall be deemed a shareholder for the purposes of
Section 14 of the UKDS Shareholders' Agreement for a period of three years from
the Closing.

        (e) The provisions of Section 11 (Board of Directors) are hereby amended
to read in their entirety as follows:

            "Section 11. Board of Directors. In the event of the exercise of the
        UKDS Option by JJFMS or its successor, JJFMS or its successor shall be
        entitled to one (1) nominee to the Board of Directors reasonably
        satisfactory to Sodexho. In the event of the exercise of the UKDS Option
        by JJFMS or its successor, Sodexho agrees that in all elections for
        directors during the term of this Agreement, Sodexho shall vote all
        shares owned by it for the nominee of JJFMS or its successor."

        (f) A new Section 24 entitled "Miscellaneous" shall be added as follows:

            "Effective upon the Closing under the Stock Acquisition Agreement,
        and notwithstanding any other agreement to which Sodexho is a party or
        the charter or by-laws of UKDS, no management fee shall be payable to
        Prison Realty or any subsidiary or to JJFMS or any subsidiary. If JJFMS,
        its successor, or Prison Realty becomes a shareholder in UKDS, after
        consultation with Sodexho (i) it shall give joint and several guarantees
        of projects of UKDS (both prospectively and retroactively when it
        becomes such a shareholder) in connection with Projects undertaken by
        UKDS (and not by any special purpose vehicle) when Sodexho determines to
        give a guarantee (or had previously determined to give a guarantee prior
        to the date JJFMS or its successor becomes a Shareholder), and provided

                                       17
<PAGE>   18
        further that Sodexho shall give a written undertaking that, as between
        Sodexho and JJFMS or such other shareholder, JJFMS or such other
        shareholder shall be responsible ultimately only for the percentage of
        such guarantee as is equal to JJFMS's or such other shareholder's
        percentage of the outstanding stock in UKDS, and Sodexho shall be
        responsible for the balance of such guarantee, and (ii) JJFMS (or such
        other shareholder) shall agree in writing to reimburse Sodexho for that
        percentage of any liability Sodexho may have with respect to then-still
        outstanding guarantees that were given while JJFMS or any Affiliate of
        JJFMS holds the UKDS Option (prior to its exercise) as is equal to the
        percentage of the outstanding stock of UKDS held by JJFMS (or such other
        shareholder) after giving effect to the exercise of the Option." Prison
        Realty agrees to guarantee the obligations of JJFMS (or whatever
        Affiliate exercises the UKDS Options and becomes a shareholder in UKDS)
        to deliver guarantees under the UKDS Shareholders Agreement.

        (g) JJFMS, by its signature to this Agreement, and each of Prison Realty
and PMSI, by its signature to this Agreement, agree to be bound by the UKDS
Shareholders Agreement, as amended, as if it were an original signatory thereof,
and CCA U.K., by its signature to this Agreement, and each of Prison Realty and
PMSI by its signature to this Agreement, agree to be bound by the UKDS
Shareholder Agreement as if it were an original signature thereto, and in each
case to the extent provided in this Section 7.05.

        7.06. RELEASE OF CLAIMS BY SODEXHO. Effective upon completion of the
Closing, and for so long as there is full compliance by the Sellers, Prison
Realty, CCA and PMSI with their obligations under this Agreement, Sodexho on
behalf of itself and each of its successors, assigns, affiliates, agents,
officers, directors, employees and representatives, hereby knowingly and
voluntarily releases, acquits and forever discharges Prison Realty, JJFMS and
their respective successors and assigns, affiliates, agents, officers,
directors, employees and representatives from any and all actions, causes of
action, claims, suits, damages, costs, judgments, and any and all other
liabilities of any, either in law or in equity, which have arisen or may arise
as a result of or related to the UKDS Shareholders' Agreement and/or the CCA
Australia Shareholders' Agreement prior to the date hereof and provided that
this section shall not affect the indemnification provisions of Article X
hereof.

                                       18
<PAGE>   19

                                  ARTICLE VIII

                       CONDITIONS TO SODEXHO'S OBLIGATIONS

        All obligations of Sodexho hereunder are subject to the fulfillment,
prior to or at the Closing, of each of the following conditions:

        8.01. REPRESENTATIONS AND WARRANTIES. The representations and warranties
made by the Sellers, Prison Realty and CCA in this Agreement shall be true when
made and at and as of the time of the Closing as though such representations and
warranties were made at and as of such date.

        8.02. PERFORMANCE. Sellers, Prison Realty and CCA shall have performed
and complied with all agreements, obligations and conditions required by this
Agreement to be so complied with or performed by the Closing, and the events
described in Section 3.02 shall have occurred to the reasonable satisfaction of
Sodexho and counsel for Sodexho in the United Kingdom and Australia.

        8.03. OFFICER'S CERTIFICATE. Sellers, Prison Realty and CCA shall have
delivered to Sodexho a certificate of an officer of each of Sellers, Prison
Realty and CCA dated the Closing Date, certifying as to the fulfillment of the
conditions specified in Sections 8.01 and 8.02 hereof.

        8.04. CONSENTS. All third party consents, including governmental and
governmental agency consents, shall have been obtained.

        8.05. LEGAL OPINION. Sodexho shall have received an opinion of counsel
to the Sellers, Prison Realty and CCA in the forms attached hereto as Exhibit
8.05 with such reasonable additions, if any, as may be required or advised by
legal counsel to Sodexho.

                                   ARTICLE IX

                       CONDITIONS TO SELLER'S OBLIGATIONS

        All obligations of Sellers hereunder are subject to the fulfillment,
prior to or at the Closing, of each of the following conditions:

        9.01. REPRESENTATIONS AND WARRANTIES. The representations and warranties
made by Sodexho in this Agreement shall be true when made and at and as of the
time of the Closing as though such representations and warranties were made at
and as of such date.

        9.02. PERFORMANCE. Sodexho shall have performed and complied with all
agreements, obligations and conditions required by this Agreement to be so
complied with or performed by the Closing.

                                       19
<PAGE>   20

        9.03. OFFICER'S CERTIFICATE. Sodexho shall have delivered to Sellers a
certificate of an officer of Sodexho, dated the Closing Date, certifying as to
the fulfillment of the conditions specified in Sections 9.01 and 9.02 hereof.

        9.04. CONSENTS. Sellers shall have received all consents required for
the consummation of the transactions contemplated hereby, all of which consents
shall be in form and substance satisfactory to Sellers.

        9.05 CERTAIN AUSTRALIAN GOVERNMENT APPROVALS. The purchase of the CCA
Australia Shares by Sodexho shall have been approved by the States of Victoria,
Queensland and Western Australia governments or any other governmental agency or
person in Australia as required by existing contracts by and between CCA
Australia and such governments.

        9.06 LEGAL OPINION. Sellers shall have received an opinion of counsel to
Sodexho in the form attached hereto as Exhibit 9.05 with such reasonable
additions, if any, as may be required or advised by legal counsel to Sellers.

                                    ARTICLE X

                                 INDEMNIFICATION

        10.01. INDEMNIFICATION BY SELLERS AND PRISON REALTY. Each Seller and
Prison Realty, jointly and severally, hereby agrees to defend, indemnify and
hold harmless Sodexho, its directors, officers, employees, affiliates and
agents, and shall reimburse Sodexho and any affiliate for, from and against each
claim, loss, diminution in value, damages, liability, costs and expenses
(including, without limitation, interest, penalties, costs of preparation and
investigation, and the reasonable fees, disbursements and expenses of attorneys,
accountants and other professional advisors) (collectively, "Losses"), directly
or indirectly relating to, resulting from or arising out of:

        (a) Any untrue representation, misrepresentation, breach of warranty or
nonfulfillment of any covenant, undertaking, agreement or other obligation by or
of Sellers or Prison Realty contained herein, including the obligations assumed
by the Sellers and Prison Realty herein with regard to obtaining all necessary
consents of third parties and governmental approvals to the sale of the Shares
to Sodexho, or in any certificate, schedule, document or instrument delivered to
Sodexho pursuant hereto;

        (b) Any claims, causes of actions, demands or the like brought by JJFMS,
its officers or directors with respect to the Shares or the purchase of the
Shares by Sodexho, or otherwise pertaining to this Agreement and the
transactions contemplated by this Agreement or the transactions between Prison
Realty (or its predecessor) and JJFMS with respect to the transfer of the Shares
to JJFMS; and

        (c) Any other Loss incidental to any of the foregoing.

                                       20
<PAGE>   21

        10.02. INDEMNIFICATION BY CCA. CCA hereby agrees to defend, indemnify
and hold harmless Sodexho, its directors, officers, employees, affiliates and
agents, and shall reimburse Sodexho for, from and against Losses directly or
indirectly relating to, resulting from or arising out of:

        (a) Any untrue representation, misrepresentation, breach of warranty or
nonfulfillment of any covenant, undertaking, agreement or other obligation by or
of each contained herein, or in any certificate, schedule, document or
instrument delivered to Sodexho pursuant hereto; and

        (b) Any other Loss incidental to any of the foregoing.

        10.03. INDEMNIFICATION BY SODEXHO. Sodexho hereby agrees to defend,
indemnify and hold harmless Sellers, Prison Realty and CCA, their directors,
officers, employees, affiliates and agents, and shall reimburse Sellers, Prison
Realty and CCA for, from and against Losses directly or indirectly relating to,
resulting from or arising out of:

        (a) Any untrue representation, misrepresentation, breach of warranty or
nonfulfillment of any covenant, undertaking, agreement or other obligation by
Sodexho contained herein, including the obligations assumed herein by Sodexho
with regard to obtaining consents of third parties and governmental approvals to
the purchase of the Shares by Sodexho, or in any certificate, document or
instrument delivered to Sellers pursuant hereto; and

        (b) Any other Loss incidental to any of the foregoing.

        10.04. PROCEDURE. (a) The indemnified party shall promptly notify the
indemnifying party of any claim, demand, action or proceeding for which
indemnification will be sought under Sections 10.01, 10.02 or 10.03 of this
Agreement (but the failure to so notify shall not relieve the indemnifying party
from its obligations hereunder unless such failure irrevocably prejudices the
indemnifying party), and, if such claim, demand, action or proceeding is a third
party claim, demand, action or proceeding, the indemnifying party will have the
right at its expense to assume the defense there of using counsel reasonably
acceptable to the indemnified party. The indemnified party shall have the right
to participate, at its own expense, with respect to any such third party claim,
demand, action or proceeding. In connection with any such third party claim,
demand, action or proceeding, Sodexho, Sellers, Prison Realty and PMSI shall
cooperate with each other and provide each other with access to relevant books
and records in their possession. No such third party claim, demand, action or
proceeding shall be settled without the prior written consent of the indemnified
party. If a firm written offer is made to settle any such third party claim,
demand, action or proceeding and the indemnifying party proposes to accept such
settlement and the indemnified party refuses to consent to such settlement,
then: (i) the indemnifying party shall be excused from, and the indemnified
party shall be solely responsible for, all further defense of such third party
claim, demand, action or proceeding; and (ii) the maximum liability of the
indemnifying party relating to such third party claim, demand, action or
proceeding shall be the amount of the proposed settlement

                                       21
<PAGE>   22

if the amount thereafter recovered from the indemnified party on such third
party claim, demand, action or proceeding is greater than the amount of the
proposed settlement.

        (b) If the indemnified party reasonably determines: (i) that there may
be a conflict between the positions of the indemnifying party and the
indemnified party in defending such claim or action; or (ii) that there may be
legal defenses available to such indemnified party different from or in addition
to those available to the indemnifying party, then separate counsel for the
indemnified party shall be entitled to participate in and conduct the defense,
or such different defenses, and the indemnifying party shall be liable for any
reasonable legal or other expenses incurred by the indemnified party in
connection with the defense.

        (c) Judgments against and settlements entered into by the indemnified
party pursuant to Section 10.04(a) shall unconditionally release the
indemnifying party from liability for the particular claim, demand, action or
proceeding for which indemnification was sought, except as otherwise provided.

                                   ARTICLE XI

                           SURVIVAL OF REPRESENTATIONS

        11.01. SURVIVAL OF REPRESENTATIONS. All representations, warranties,
covenants, indemnities and agreements by the parties contained in this Agreement
shall survive the Closing and any investigation at any time made by or on behalf
of any party hereto, and shall expire on the third anniversary of the Closing,
except for the representations and warranties set forth in Sections 4.02, 4.03,
4.04, 5.01, 6.02, and 6.05 and the covenants and agreements set forth in
Sections 7.01, 7.04, 7.05, 7.06 and Article X, Sections 11.01, 13.02 and 13.06
which shall not expire.

        11.02. STATEMENTS AS REPRESENTATIONS. All statements contained in any
certificate, schedule, list, document or other writing delivered pursuant hereto
or in connection with the transactions contemplated hereby shall be deemed
representations and warranties for all purposes of this Agreement.

        11.03. REMEDIES CUMULATIVE. The remedies provided herein shall be
cumulative and shall not preclude the assertion by any party hereto of any other
rights or the seeking of any other remedies against the other party hereto.

                                       22
<PAGE>   23

                                   ARTICLE XII

                            TERMINATION OF AGREEMENT

        12.01. TERMINATION. This Agreement may be terminated at any time prior
to the Closing:

        (a) By Sodexho, if there has been a material violation or breach by
Prison Realty, CCA, JJFMS or CCA UK of any of the agreements, representations or
warranties contained in this Agreement which has not been waived in writing, or
if any of the conditions set forth in Article VIII hereof have not been
satisfied by the Closing or have not been waived in writing by Sodexho.

        (b) By Sellers, if there has been a material violation or breach by
Sodexho of any of the agreements, representations or warranties contained in
this Agreement which has not been waived in writing, or if any of the conditions
set forth in Article IX hereof have not been satisfied by the Closing or have
not been waived in writing by either of the Sellers.

        (c) By either Sodexho or Sellers if the transactions contemplated by
this Agreement shall not have been consummated on or before March 31, 2001.

        (d) By either Sodexho or Sellers, as applicable, if either Sodexho or
any Seller makes an assignment of the benefit of creditors, files a voluntary
petition in bankruptcy or seeks or consents to any reorganization or similar
relief under any present or future bankruptcy act or similar law, or is
adjudicated as bankrupt or insolvent, or if a third party commences any
bankruptcy, insolvency, reorganization or similar proceeding involving either
Sodexho or any Seller.

        12.02. EFFECT OF TERMINATION. In the absence of fraud or willful breach
on the part of Sellers, or on the part of Sodexho, then Sellers will not have
any liability to Sodexho, or Sodexho will not have any liability to Sellers, as
the case may be, under this Agreement if Sellers or Sodexho terminate this
Agreement pursuant to Section 12.01.

                                  ARTICLE XIII

                                  MISCELLANEOUS

        13.01. EXPENSES. All fees and expenses incurred by Sellers, including,
without limitation, legal fees and expenses, in connection with this Agreement
will be borne by Sellers and all fees and expenses incurred by Sodexho,
including, without limitation, legal fees and expenses, in connection with this
Agreement will be borne by Sodexho, provided, however, that Sodexho shall be
responsible for all stamp duty which may be due to any jurisdiction or
governmental entity as a result of the purchase of the Shares.

                                       23
<PAGE>   24

        13.02. ASSIGNABILITY; PARTIES IN INTEREST.

        (a) The parties hereto may assign any and all of its rights hereunder to
a wholly-owned subsidiary and such assigning party shall advise the other
parties hereto of any such assignment and shall designate such party as the
assignee of this Agreement. Any such assignee shall assume all of such assigning
party's duties, obligations and undertakings hereunder, but such assigning party
shall remain liable hereunder.

        (b) All the terms and provisions of this Agreement shall be binding
upon, shall inure to the benefit of and shall be enforceable by the respective
transferees, heirs, successors, assigns and legal or personal representatives of
the parties hereto.

        13.03. ENTIRE AGREEMENT; AMENDMENTS. This Agreement, including the
exhibits, schedules, lists and other documents and writings referred to herein
or delivered pursuant hereto (including without limitation the Escrow Agreement
and the Option Agreement), contains the entire understanding of the parties with
respect to its subject matter. There are no restrictions, agreements, promises,
warranties, covenants or undertakings other than those expressly set forth
herein or therein. Except as provided herein, this Agreement supersedes all
prior agreements and undertakings between the parties with respect to its
subject matter. This Agreement may be amended only by a written instrument duly
executed by all parties or their respective transferees, heirs, successors,
assigns or legal personal representatives. Any condition to a party's
obligations hereunder maybe waived, but only by a written instrument signed by
the party entitled to the benefits thereof. The failure or delay of any party at
any time or times to require performance of any provision or to exercise its
rights with respect to any provisions hereof, shall in no manner operate as a
waiver of or affect such party's right at a later time to enforce the same.

        13.04. HEADINGS. The section and paragraph headings contained in this
Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretations of this Agreement.

        13.05. SEVERABILITY. The invalidity of any term or terms of this
Agreement shall not affect any other term of this Agreement, which shall remain
in full force and effect.

        13.06. NOTICES. All notices, request, claims, demands and other
communications hereunder shall be in writing and shall be deemed to have been
duly given if delivered by hand; mailed (registered or certified mail, postage
prepaid, return receipt requested); or by nationally recognized courier service
as follows:

        If to CCA UK:

        Corrections Corporation of America (U.K.) Limited
        10 Burton Hills Boulevard
        Nashville, Tennessee 37215
        Attention: Darrell K. Massengale

                                       24
<PAGE>   25

        With a copy to:

        Elizabeth E. Moore, Esq.
        Stokes Bartholomew Evans & Petree, P.A.
        424 Church Street, Suite 2800
        Nashville, Tennessee 37219

        If to JJFMS:

        Juvenile and Jail Facility Management Services, Inc.
        10 Burton Hills Boulevard
        Nashville, Tennessee 37215
        Attention: John D. Ferguson

        With a copy to:

        Elizabeth E. Moore, Esq.
        Stokes Bartholomew Evans & Petree, P.A.
        424 Church Street, Suite 2800
        Nashville, Tennessee 37219

        If to PMSI:

        Prison Management Services, Inc.
        10 Burton Hills Boulevard
        Nashville, Tennessee 37215
        Attention: John D. Ferguson

        With a copy to:

        Elizabeth E. Moore, Esq.
        Stokes Bartholomew Evans & Petree, P.A.
        424 Church Street, Suite 2800
        Nashville, Tennessee 37219

        If to Sodexho:

        Sodexho Alliance, S.A.
        3, avenue newton
        78180 Montigny-le-Bretonneux
        FRANCE
        Attention: Jean-Pierre Cuny

                                       25
<PAGE>   26

        With a copy to:

        Howard K. Fuguet, Esq.
        Ropes & Gray
        One International Place
        Boston, Massachusetts 02110

        If to Prison Realty:

        Prison Realty Trust, Inc.
        10 Burton Hills Boulevard
        Nashville, Tennessee 37215
        Attention: John D. Ferguson

        With a copy to:

        Elizabeth E. Moore, Esq.
        Stokes Bartholomew Evans & Petree, P.A.
        424 Church Street, Suite 2800
        Nashville, Tennessee 37219

        If to CCA:

        Corrections Corporation of America
        10 Burton Hills Boulevard
        Nashville, Tennessee 37215
        Attention: John D. Ferguson

        With a copy to:

        Elizabeth E. Moore, Esq.
        Stokes Bartholomew Evans & Petree, P.A.
        424 Church Street, Suite 2800
        Nashville, Tennessee 37219

or to such other address as any party may have furnished to the others in
writing in accordance herewith, except that notices of change of address shall
only be effective upon receipt.

        13.07. GOVERNING LAW. This Agreement shall be governed by and be
interpreted under the laws of Tennessee (except as matters relating to the
transfer of shares may be governed by the laws of the United Kingdom or
Australia) without regard to the conflicts of law principles thereof. Each party
hereby irrevocably submits to the non-exclusive jurisdiction of the Tennessee
courts, the non-exclusive jurisdiction of the United States District Court for
the Southern District of New York, the

                                       26
<PAGE>   27

English courts and the Australian courts over any action or proceeding to
enforce any right under this Agreement.

        13.08. COUNTERPARTS. This Agreement may be executed simultaneously in
one or more counterparts, with the same effect as if the signatories executing
the several counterparts had executed one counterpart, provided, however, that
the several executed counterparts shall together have been signed by Sodexho and
the Sellers. All such executed counterparts shall together constitute one and
the same instrument.

                  [signatures continued on the following page]

                                       27
<PAGE>   28

        IN WITNESS WHEREOF, this Agreement has been duly executed and delivered
by the duly authorized officers of the parties hereto on the date first above
written.

                                    SODEXHO ALLIANCE, S.A.

                                    By: /s/ Jean-Pierre Cuny
                                        ----------------------------------------
                                    Title: Senior Vice President
                                           -------------------------------------

                                    PRISON REALTY TRUST, INC.

                                    By:  /s/ John D. Ferguson
                                        ----------------------------------------
                                    Title: President/Chief Executive Officer
                                           -------------------------------------

                                    CORRECTIONS CORPORATION OF AMERICA

                                    By:  /s/ John D. Ferguson
                                        ----------------------------------------
                                    Title: President/Chief Executive Officer
                                           -------------------------------------

                                    PRISON MANAGEMENT SERVICES, INC.

                                    By: /s/ Darrell K. Massengale
                                        ----------------------------------------
                                    Title: President/Chief Executive Officer
                                           -------------------------------------

                                    SELLERS:

                                    CORRECTIONS CORPORATION OF AMERICA
                                    (U.K.) LIMITED

                                    By: /s/ Gay E. Vick
                                        ----------------------------------------
                                    Title: Director
                                           -------------------------------------

                                       28
<PAGE>   29

                                    (Signature Page Continued)

                                    JUVENILE AND JAIL FACILITY MANAGEMENT
                                    SERVICES, INC.

                                    By: /s/ Darrell K. Massengale
                                        ----------------------------------------
                                    Title: President/Chief Executive Officer
                                           -------------------------------------

                                       29
<PAGE>   30

                                  SCHEDULE 2.02

                            (Intentionally Omitted)

                                       30
<PAGE>   31

                                    EXHIBIT A

                                ESCROW AGREEMENT

                            (Intentionally Omitted)

                                       31
<PAGE>   32

                                    EXHIBIT B

                                OPTION AGREEMENT

                            (Intentionally Omitted)

                    Included in this filing as Exhibit 10.3

                                       32
<PAGE>   33

                                  EXHIBIT 8.05

                                FORM OF OPINION

                            (Intentionally Omitted)

                                       33
<PAGE>   34

                                  EXHIBIT 8.05

                                FORM OF OPINION

                            (Intentionally Omitted)

                                       34
<PAGE>   35

                                  EXHIBIT 9.05

                                FORM OF OPINION

                            (Intentionally Omitted)

                                       35<PAGE>   1
                                                                    EXHIBIT 10.3

                                OPTION AGREEMENT

        THIS OPTION AGREEMENT (the "Agreement") is made and entered into as of
September 11, 2000, by and between JUVENILE AND JAIL FACILITY MANAGEMENT
SERVICES, INC., a Tennessee corporation, or its designee ("JJFMS"), and SODEXHO
ALLIANCE, S.A., a French societe anonyme, or its designee ("Sodexho").

                              W I T N E S S E T H:

        WHEREAS, pursuant to the terms of that certain Stock Acquisition
Agreement, dated September 11, 2000 (the "Stock Acquisition Agreement"), Sodexho
has acquired from Corrections Corporation of America (U.K.) Limited, a company
incorporated in England and Wales whose registered number is 2147489 ("CCA UK"),
5000 "A" Ordinary Shares and 2500 "B" Ordinary Shares in the capital stock of
U.K. Detention Services Limited, a company incorporated in England and Wales
whose registered number is 2147491 ("UKDS"), which shares (the "Transferred UKDS
Shares") collectively represent fifty percent (50%) of the issued and
outstanding shares of UKDS;

        WHEREAS, pursuant to the terms of the Stock Acquisition Agreement,
Sodexho has acquired from JJFMS 22,500 "C" class shares in the capital of
Corrections Corporation of Australia Pty. Ltd. A.C.N. 010 921 641, an Australian
corporation ("CCA Australia"), which shares (the "Transferred CCA Australia
Shares") collectively represent fifty percent (50%) of the issued and
outstanding shares of CCA Australia; and

        WHEREAS, in connection with the transactions described above, Sodexho
desires to grant and JJFMS desires to accept the grant of: (i) an option to
purchase fifty percent (50%) of the Transferred UKDS Shares, which would
represent twenty-five percent (25%) of the aggregate issued and outstanding
shares of UKDS (the "UKDS Option Shares"); and (ii) an option to purchase fifty
percent (50%) of the Transferred CCA Australia Shares, which would represent
twenty-five percent (25%) of the aggregate issued and outstanding shares of CCA
Australia (the "CCA Australia Option Shares" and, collectively with the UKDS
Option Shares, the "Option Shares").

        NOW, THEREFORE, for and in consideration of the premises and the mutual
promises, covenants, agreements, and conditions in this Agreement, and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

        1. Grant of UKDS Option. Subject to the terms and conditions of this
Agreement, and assuming that the Transferred UKDS Shares have first been
acquired by Sodexho from CCA UK at a Closing pursuant to the Stock Acquisition
Agreement, and in reliance upon the representations, warranties, covenants and
agreements contained herein, Sodexho hereby grants to JJFMS the option to
purchase all, but not less than all, of the UKDS Option Shares (the "UKDS
Option").

<PAGE>   2

        2. Grant of CCA Australia Option. Subject to the terms and conditions of
this Agreement, and assuming that the Transferred CCA Australia Shares have
first been acquired by Sodexho from JJFMS at a Closing pursuant to the Stock
Acquisition Agreement, and in reliance upon the representations, warranties,
covenants and agreements contained herein, Sodexho hereby grants to JJFMS the
option to purchase all, but not less than all, of the CCA Australia Option
Shares (the "CCA Australia Option," and collectively with the UKDS Option, the
"Options").

        3. Purchase Price of Shares. During the period beginning on the date of
this Agreement and ending on 11:59 p.m., Nashville, Tennessee time, on the date
which is eighteen (18) months from the date of this Agreement (the "Initial
Period"), (i) the aggregate purchase price of the UKDS Option Shares shall be
Two Million U.S. Dollars ($2,000,000)(US); and (ii) the aggregate purchase price
of the CCA Australia Option Shares shall be Two Million U.S. Dollars
($2,000,000)(US). During the period beginning on the day immediately following
the end of the Initial Period and ending on 11:59 p.m., Nashville, Tennessee
time, on the day of the second anniversary of the date of this Agreement (the
"Subsequent Period"), (i) the aggregate purchase price of the UKDS Option Shares
shall be Two Million One Hundred Thousand U.S. Dollars ($2,100,000)(US); and
(ii) the aggregate purchase price of the CCA Australia Option Shares shall be
Two Million One Hundred Thousand U.S. Dollars ($2,100,000)(US). The purchase
price shall be payable by bank wire transfer or such other form of payment as
may be acceptable to JJFMS and Sodexho.

        4. Term. Subject to the terms and conditions of this Agreement,
including, without limitation, Section 8 hereof, the Options shall be
exercisable and paid for by JJFMS on or before 11:59 p.m., Nashville, Tennessee
time, on the day of the second anniversary of the date of this Agreement, after
which such right to purchase any of the Option Shares shall terminate.

        5. Exercise of Option; Closing. Subject to the terms and conditions of
this Agreement, the UKDS Option shall be exercised by JJFMS with respect to all,
but not less than all, of the UKDS Option Shares and the CCA Australia Option
shall be exercised by JJFMS with respect to all, but not less than all, of the
CCA Australia Option Shares, by giving notice of exercise to Sodexho in
accordance with Section 9 of this Agreement. Delivery of the UKDS Option Shares
and the CCA Australia Option Shares and payment therefor (each, a "Closing")
shall take place at the offices of Ropes & Gray, in Boston, Massachusetts, at
10:00 a.m., Boston, Massachusetts time, on the tenth Business Day, as
hereinafter defined, following the date such notice of exercise is given, or at
such other date, time, and/or place as JJFMS and Sodexho may mutually agree. As
used in this Agreement, "Business Day" means any Monday, Tuesday, Wednesday,
Thursday, or Friday on which banking institutions in the City of Boston,
Massachusetts are not authorized or obligated by law or executive order to
close. Notwithstanding any other provision of this Agreement, the UKDS Option
and the CCA Australia Option must be exercised and paid for together, and
neither one may be exercised without the exercise of the other option at the
same time. It is understood with respect to the Closing following any exercise
of both the UKDS Option and the CCA Australia Option, that copies of all
consents of third parties and governmental bodies and agencies necessary for the
transfer of the UKDS Option Shares and all such consents necessary for the
transfer of the CCA Australia Option Shares shall have been furnished to JJFMS,
it being understood that once the

                                       2
<PAGE>   3

consents necessary for the transfer of the UKDS Option Shares have been obtained
the Closing shall proceed with respect to the transfer of said UKDS Option
Shares (assuming the other conditions to the transfer of said UKDS Option Shares
shall have been satisfied) and it being understood that once the consents
necessary for the transfer of the CCA Australia Option Shares have been
obtained, the Closing shall proceed with respect to the transfer of said CCA
Option Australia Shares (assuming the other conditions to the transfer of said
CCA Australia Option Shares shall have been satisfied), and if at any time the
third parties and governmental consents for the transfer of all the Option
Shares have been obtained and all other conditions have been satisfied, then the
Closing shall occur with respect to the transfer of all the UKDS Option Shares
and CCA Australia Option Shares. In the event that Sodexho for some reason does
not purchase the Transferred UKDS Shares by the termination date set forth in
the Stock Acquisition Agreement, provisions in this Agreement regarding the UKDS
Option and the UKDS Option Shares shall be disregarded and of no effect. In the
event that Sodexho for some reason does not purchase the Transferred CCA
Australia Shares by the termination date set forth in the Stock Acquisition
Agreement, provisions in this Agreement regarding the CCA Australia Option and
the CCA Australia Option Shares shall be disregarded and of no effect.

        6. Representations and Warranties of JJFMS. Recognizing that Sodexho
will be relying on the information and on the representations and warranties set
forth herein, JJFMS hereby acknowledges, represents and warrants to Sodexho as
follows:

           (a) JJFMS has full power and authority to execute, enter into and
perform this Agreement and all agreements, instruments and documents
contemplated hereby and to carry out the transactions contemplated hereby. This
Agreement is a valid and binding obligation of JJFMS, enforceable against it in
accordance with its terms, subject to the limitations imposed by bankruptcy,
insolvency, moratorium, or similar laws or provisions of general application,
and to availability of equitable remedies (whether enforcement is sought in a
court of law or equity).

           (b) JJFMS is the sole party in interest in acquiring the Options and,
if the UKDS Option and the CCA Australia Option are exercised, will be acquiring
the UKDS Option Shares and the CCA Australia Option Shares solely for its own
investment and not with a view to the resale or distribution thereof. JJFMS has
no present or contemplated agreement, understanding, intent, arrangement or
commitment providing for or which is likely to compel the transfer, pledge, sale
or disposition of the Option Shares. JJFMS will not attempt to sell, transfer,
convey or otherwise dispose of all or any part of the Option Shares except in
accordance with applicable law and the various agreements to which it is a
party.

           (c) Neither the execution and delivery of this Agreement, nor the
carrying out of any of the transactions contemplated hereby or thereby, will in
any material respect contravene, violate, or result in the breach of, any
agreement or instrument to which JJFMS is a party or by which it is bound, or of
any law or governmental order, rule or regulation which is applicable to JJFMS
or will result in the creation or imposition of any security interest, mortgage,
lien, encumbrance or charge upon any of the properties or assets of JJFMS. No
consents or approvals of any persons or entities, governmental or otherwise, are
required which have not been obtained in

                                       3
<PAGE>   4

respect of the execution and delivery of this Agreement and the carrying out of
the transactions contemplated hereby or thereby on the part of JJFMS, it being
understood that approvals of governmental bodies may be required to permit the
exercise of the Options and the acquisition of the Option Shares thereby.

           (d) JJFMS understands and agrees that the Option Shares have not been
registered under the securities laws of any jurisdiction. JJFMS further
understands and agrees that the Options and any exercise thereof must comply
with all applicable securities laws, as such laws exist on such dates that the
Options may be exercised. JJFMS also understands and agrees that the Options may
never be exercisable if compliance with such securities laws may not be
achieved.

           (e) JJFMS understands and agrees that Sodexho will rely upon the
representations made in this Agreement and related documents and that Sodexho is
fully entitled to rely upon each and all of the same without further inquiry.

           (f) JJFMS understands that governmental agency approvals may be
required to permit the exercise of the Option and acquisition of the Option
Shares thereby.

        7. Representations and Warranties of Sodexho. Recognizing that JJFMS
will be relying on the information and on the representations and warranties set
forth herein, Sodexho hereby acknowledges, represents and warrants to JJFMS as
follows (assuming that Sodexho has first acquired the Transferred CCA Australia
Shares and the Transferred UKDS Shares from JJFMS at a Closing under the Stock
Acquisition Agreement):

           (a) Sodexho has full power and authority to execute, deliver, enter
into, and perform this Agreement and all agreements, instruments, and documents
contemplated hereby and to carry out the transactions contemplated thereby. This
Agreement is a valid and binding obligation of Sodexho, enforceable against each
in accordance with its terms, subject to the limitations imposed by bankruptcy,
insolvency, moratorium or similar laws or provisions of general application, and
to the availability of equitable remedies (whether enforcement is sought in a
court of law or equity).

           (b) Sodexho is the sole owner of the Option Shares, free and clear of
any liens, claims, encumbrances, and charges, and has full power to sell,
transfer, and convey the same to JJFMS.

           (c) Neither the execution and delivery of this Agreement, nor the
carrying out of any of the transactions contemplated hereby, will in any
material respect result in any violation of or be in conflict with any term of
any material agreement or instrument to which Sodexho is a party or by which
either is bound, or of any law or governmental order, rule or regulation which
is applicable to Sodexho or will result in the creation or imposition of any
security interest, mortgage, lien, encumbrance or charge upon any of the
properties or assets of Sodexho. No consents or approvals of any persons or
entities, governmental or otherwise, are required which have not been obtained
in respect of the execution and delivery of this Agreement or the Option Shares
and the

                                       4
<PAGE>   5

carrying out of the transactions contemplated hereby on the part of Sodexho, it
being understood that approvals of governmental bodies may be required to permit
the exercise of the Options and the acquisition of the Option Shares thereby.

        8. Survival. The representations, warranties and agreements of the
parties contained herein shall survive the execution and delivery of this
Agreement and the purchase of the Option Shares by JJFMS.

        9. Assignment. This Agreement will be binding upon and inure to the
benefit of the parties hereto and their respective successors and permitted
assigns. Neither the Options nor any interest therein may be transferred,
assigned, pledged, hypothecated, or otherwise conveyed, except (i) by operation
of law as a result of a merger or consolidation of JJFMS with Prison Realty
Trust, Inc. ("Prison Realty") or a wholly-owned subsidiary thereof; or (ii) with
the prior written consent of Sodexho, and subject to agreements among Sodexho,
JJFMS and Prison Realty.

        10. Conditions to Closing.

            (a) The obligations of Sodexho to consummate the transactions
contemplated by this Agreement are subject to the conditions that the
representations and warranties set forth in Section 5 hereof are true and
correct on and as of the date hereof and that JJFMS shall have complied with all
covenants and agreements and satisfied all conditions on its part to be
performed or satisfied prior to Closing and that all governmental body approvals
that are required are obtained by the Closing. Sodexho may request a certificate
to the foregoing effect, dated as of the date of Closing, signed by JJFMS.

            (b) The obligations of JJFMS to consummate the transactions
contemplated by this Agreement are subject to the conditions that the
representations and warranties set forth in Section 6 hereof are true and
correct on and as of the date hereof and that Sodexho shall have complied with
all covenants and agreements and satisfied all conditions on its part to be
performed or satisfied prior to Closing and that all governmental body approvals
that are required are obtained by the Closing. JJFMS may request a certificate
to the foregoing effect, dated as of the date of Closing, signed by Sodexho.

        11. Notices. All notices, request, claims, demands and other
communications hereunder shall be in writing and shall be deemed to have been
duly given if delivered by hand; mailed (registered or certified mail, postage
prepaid, return receipt requested); or by nationally recognized courier service
as follows:

                       If to JJFMS:

                       Juvenile and Jail Facility Management Services, Inc.
                       10 Burton Hills Boulevard
                       Nashville, Tennessee  37215
                       Attn: Chief Executive Officer and President

                                       5
<PAGE>   6

                       With a copy to:

                       Elizabeth E. Moore, Esq.
                       Stokes Bartholomew Evans & Petree, P.A.
                       424 Church Street, Suite 2800
                       Nashville, Tennessee 37219

                       If to Sodexho:

                       Sodexho Alliance, S.A.
                       3 avenue Newton
                       78180 Montigny-le-Bretonneux
                       FRANCE
                       Attn:  Jean-Pierre Cuny

                       With a copy to:

                       Howard K. Fuguet, Esq.
                       Ropes & Gray
                       One International Place
                       Boston, Massachusetts 02110

        12. Severability. The invalidity or unenforceability of any provision of
this Agreement shall not affect the validity or enforceability of any other term
or provision hereof, and this Agreement in such event shall be construed in all
respects as if any invalid or unenforceable provisions were not included in this
Agreement.

        13. Governing Law. This Agreement shall be governed by and be
interpreted under the laws of the State of New York without regard to the
conflicts of law principles thereof. Each party hereby irrevocably submits to
the non-exclusive jurisdiction of the United States District Court for the
Southern District of New York over any action or proceeding to enforce any right
under this Agreement. The parties further acknowledge that irrevocable damage
would occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached.
Accordingly, the parties shall be entitled to an injunction to prevent breaches
of the provisions of this Agreement and to enforce specifically the terms and
provisions hereof in the United States District Court for the Southern District
of New York. This being in addition to any other remedy to which they may be
entitled at law or equity. The English language version of all documents related
to the transactions contemplated hereby shall govern.

        14. Entire Agreement. This Agreement constitutes the entire agreement
and supersedes all prior agreements and understandings, both written and oral,
between the parties with respect to

                                       6
<PAGE>   7

the subject matter hereof, except for such additional agreements as are
contained in that certain Stock Acquisition Agreement and in any agreements
related thereto.

        15. Amendment. No change or modification of this Agreement shall be
valid unless the same is in writing and signed by the parties to this Agreement.
This Agreement may be terminated at any time by an instrument in writing signed
by the parties to this Agreement.

        16. Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original.

        17. Section Headings. The section headings are for reference only and
shall not limit or control the meaning of any provision of this Agreement.

        18. Waiver. No delay or omission on the part of either party hereto in
exercising any right hereunder shall operate as a waiver of such right or any
other right under this Agreement; however, any of the terms or conditions of
this Agreement may be waived in writing at any time by the party hereto which is
entitled to the benefit thereof.

                                       7
<PAGE>   8

        IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                                    SODEXHO:

                                    SODEXHO ALLIANCE, S.A.

                                    By: /s/ Jean-Pierre Cuny
                                        ----------------------------------------
                                    Title: Senior Vice President
                                           -------------------------------------

                                    JJFMS:

                                    JUVENILE AND JAIL FACILITY MANAGEMENT
                                    SERVICES, INC.

                                    By: /s/ Darrell K. Massengale
                                        ----------------------------------------
                                    Title: President/Chief Executive Officer
                                           -------------------------------------

                                       8

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