Document:

Exhibit 10.1
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                            STOCK PURCHASE AGREEMENT
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         THIS STOCK  PURCHASE  AGREEMENT (the  "Agreement")  is made as of April
___, 2001, by and between  Beverly  Holdings,  Inc., a Nevada  corporation  (the
"Company"),  and the  investors  listed on  Schedule A hereto,  each of which is
herein referred to as the "Investor."

         THE PARTIES HEREBY AGREE AS FOLLOWS:

         1.       Purchase and Sale of Stock.
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                  1.1 Sale and  Issuance  of  Stock.  Subject  to the  terms and
conditions of this  Agreement,  each Investor  agrees to purchase at the Closing
and the Company  agrees to sell and issue to such  Investor at the Closing  that
number of shares of the Company's  Common Stock (the "Stock") set forth opposite
such  Investor's  name on Schedule A hereto for the  purchase  price of $0.01 (1
cent) per share.

                  1.2  Closing.  The  purchase  and sale of the Stock shall take
place at such time and place as the Company and Investors  purchasing at least a
majority of the Stock  mutually  agree upon (which time and place are designated
as the  "Closing").  At the Closing the Company shall deliver to each Investor a
certificate  representing  the Stock which such Investor is  purchasing  against
delivery  to the Company by such  Investor of a certified  check or bank wire in
the amount of the purchase price therefor payable to the Company's order.

                  2.  Representations and Warranties of the Company.  Subject to
subsections 2(i) and 2(ii) below, the Company hereby  represents and warrants to
Investors that:

                  2.1 Organization, Good Standing and Qualification. The Company
is a corporation duly organized, validly existing and in good standing under the
laws of the State of Nevada and has all requisite  corporate power and authority
to carry on its business as now conducted  and as proposed to be conducted.  The
Company is  qualified  to  transact  business  and is in good  standing  in each
jurisdiction  in which the failure to so qualify  would have a material  adverse
effect on its business and properties.

                  2.2  Capitalization.  The  authorized  capital of the  Company
consists, or will consist prior to the Closing, of:

                                    (i)  Common  Stock.   50,000,000  shares  of
common stock (the "Common  Stock"),  $0.001 par value,  of which 560,701  shares
will be issued and outstanding upon the effectiveness of the Certificate.

                                    (ii)    Outstanding    Shares    and   Other
Securities.  The  outstanding  shares of Common  Stock are all duly and  validly
authorized  and issued,  fully paid and  nonassessable  and all shares of Common
Stock to be issued upon the exercise of  outstanding  options or  conversion  of
convertible  securities in accordance with their  respective  terms will be duly
and validly issued,  fully paid and  nonassessable  and the  outstanding  Common
Stock  and all  other  outstanding  securities  of the  Company  were  issued in
accordance with the registration or  qualification  provisions of the Securities
Act of  1933,  as  amended  (the  "Securities  Act"),  and  any  relevant  state
securities laws, or pursuant to valid exemptions therefrom.

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                                    (iii)  Agreements  for  Purchase  of Shares.
There are no outstanding  options,  warrants,  rights  (including  conversion or
preemptive  rights) or  agreements  for the  purchase  or  acquisition  from the
Company of any shares of its capital stock.

                  2.3  Subsidiaries.  The  Company  does  not  presently  own or
control,  directly  or  indirectly,  any  interest  in  any  other  corporation,
association,  partnership or other business entity;  provided,  however that the
Company  does have an interest in the  following  companies:  Digital DJ,  Inc.,
Domestic  Transmission  Technologies,  Inc.,  European Licensing Group, Inc. and
Latin America Subcarrier Services Group, Inc.

                  2.4  Authorization.  All  corporate  action on the part of the
Company,   its   officers,   directors  and   stockholders   necessary  for  the
authorization,  execution and delivery of this Agreement, the performance of all
obligations  of the Company  hereunder  and  thereunder  and the  authorization,
issuance (or  reservation  for  issuance),  sale and delivery of the Stock being
sold  hereunder has been taken or will be taken on or prior to the Closing,  and
this  Agreement  constitutes  the valid and legally  binding  obligations of the
Company   except   (i)  as  limited  by   applicable   bankruptcy,   insolvency,
reorganization,  moratorium  and other  laws of  general  application  affecting
enforcement of creditors' rights generally, and (ii) as limited by laws relating
to  the  availability  of  specific  performance,  injunctive  relief  or  other
equitable remedies.

                  2.5 Valid  Issuance of Common Stock.  The Stock which is being
purchased  by the  Investors  hereunder,  when  issued,  sold and  delivered  in
accordance with the terms hereof for the consideration expressed herein, will be
duly and  validly  issued,  fully  paid and  non-assessable,  will be subject to
restrictions on transfer under applicable federal and state securities laws and,
based in part upon the representations of the Investors in this Agreement,  will
be issued in compliance with all applicable  federal and state  securities laws.
The Stock issuable under this Agreement has been reserved for issuance and, upon
issuance and in accordance with the terms of the Certificate,  shall be duly and
validly issued, fully paid and non-assessable,  and will be free of restrictions
on transfer other than  restrictions  on transfer under  applicable  federal and
state securities laws.

                  2.6  Governmental  Consents.  As of the Closing and subject to
the truth and accuracy of each Investor's representations set forth in Section 3
of  this  Agreement,  no  consent,  approval,  order  or  authorization  of,  or
registration,  qualification,  designation,  declaration  or  filing  with,  any
federal,  state, local or provincial  governmental  authority on the part of the
Company is required in  connection  with the  consummation  of the  transactions
contemplated by this Agreement,  except for any filings pursuant to Regulation D
under  the  Act,  pursuant  to  section  25102(f)  of the  California  Corporate
Securities Law of 1968, as amended,  and the rules  thereunder,  and pursuant to
other applicable blue sky laws and any rules thereunder.

                  2.7  Litigation.  There  is no  action  or  suit  or,  to  the
Company's  knowledge,  any  proceeding  or  investigation  pending or  currently
threatened  against  the  Company  or any of its  officers  or  directors  which
questions  the  validity of this  Agreement or the right of the Company to enter
into such agreements,  or to consummate the transactions  contemplated hereby or
thereby, or which might result, either individually or in the aggregate,  in any
material  adverse change in the assets,  condition,  affairs or prospects of the
Company, financially or otherwise, or any change in the current equity ownership
of the  Company,  nor is the  Company  aware  that  there is any  basis  for the
foregoing. The Company is not a party or subject to the provisions of any order,
writ,  injunction,  judgment  or  decree of any  court or  government  agency or
instrumentality.

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                  2.8  Patents  and  Trademarks.  The  Company has no patents or
patents pending. To the best of its knowledge,  the Company has sufficient title
and ownership of all trademarks,  service marks, trade names, copyrights,  trade
secrets,  information,  proprietary  rights  and  processes  necessary  for  its
business as now conducted  and as proposed to be conducted  without any conflict
with or infringement of the rights of others.

                  2.9 Compliance with Other  Instruments.  The Company is not in
violation  or default of any  provisions  of its  Articles of  Incorporation  or
Bylaws or of any instrument,  judgment, order, writ, decree or contract to which
it is a party or by which it is bound or, to its knowledge,  of any provision of
federal or state statute,  rule or regulation  applicable to the Company,  which
violation or default would be materially adverse to the Company.  The execution,
delivery  and  performance  of  this  Agreement  and  the  consummation  of  the
transactions  contemplated  hereby  and  thereby  will  not  result  in any such
violation or be in conflict with or  constitute,  with or without the passage of
time  and  giving  of  notice,  either  a  default  under  any  such  provision,
instrument,  judgment, order, writ, decree or contract or an event which results
in the creation of any material lien,  charge or encumbrance  upon any assets of
the Company or the suspension, revocation, impairment, forfeiture or non-renewal
of a material  permit,  license,  authorization  or approval  applicable  to the
Company, its business or operations or any of its properties.

                  2.10 Disclosure.  The Company has fully provided each Investor
with all the information  that such Investor has requested for deciding  whether
to purchase the Stock.

                  2.11  Information.   Neither  this  Agreement  nor  any  other
statements or certificates made or delivered in connection herewith contains any
untrue  statement of a material fact or omits to state a material fact necessary
to make the statements herein or therein not misleading.

                  2.12  Registration  Rights.  The Company  shall  register each
share of the Stock at the Company's expense,  upon demand by investors owning in
excess of 20% of the Stock, the Company will sign and abide by such Registration
Rights Agreements as may be requested by the investors from time to time.

                  2.13  Title to  Property  and  Assets.  The  Company  owns its
property  and  assets  free  and  clear  of  all  mortgages,  liens,  loans  and
encumbrances,  except such  encumbrances  and liens which arise in the  ordinary
course of business and do not materially  impair the Company's  ownership or use
of such property or assets with a book value of $10,000 or more. With respect to
the property and assets it leases,  the Company is in material  compliance  with
such leases and, to the best of its knowledge,  holds a valid leasehold interest
free of any liens, claims or encumbrances.

                  2.14  Employee  Benefit  Plans.  The Company does not have any
employee  benefit plan  described in section  3(2)(A) or section  3(2)(B) of the
Employee Retirement Income Security Act of 1974.

                  2.15 Minute Book.  The minute book of the Company is available
to the Investors,  contains a complete  summary of all meetings of directors and
stockholders  since the time of  incorporation  and  reflects  all  transactions
referred to in such minutes accurately in all material respects.

                  2.16 Voting Arrangements. There are no outstanding stockholder
agreements,  voting trusts, proxies or other arrangements among the stockholders
of the Company relating to the voting of their respective shares.

                  2.17  Offering.  Subject in part to the truth and  accuracy of
each Investor's  representations  set forth in Section 3 of this Agreement,  the
offer, sale and issuance of the Stock as

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contemplated by this Agreement are exempt from the registration  requirements of
the Securities  Act, and neither the Company nor any authorized  agent acting on
its behalf  will take any  action  hereafter  that would  cause the loss of such
exemption.

                  2.18  Permits.  The  Company  has  all  franchises,   permits,
licenses, and any similar authority necessary for the conduct of its business as
now being  conducted  by it, the lack of which could  materially  and  adversely
affect the  business,  properties,  prospects,  or  financial  condition  of the
Company,  and the  Company  believes  it can  obtain,  without  undue  burden or
expense,  any similar authority for the conduct of its business as planned to be
conducted.  The Company is not in default in any material  respect  under any of
such franchises, permits, licenses, or other similar authority.

                  2.19  Employment   Contracts.   There  are  no  side  letters,
employment   contracts,   written  or  verbal   understandings  with  regard  to
employment, termination, severance, or the like in place.

                  3. Representations and Warranties of Investors.  Each Investor
hereby represents and warrants that:

                  3.1 Authorization.  Such Investor has full power and authority
to enter into this  Agreement and that the Agreement  constitutes  its valid and
legally  binding  obligation  except (i) as limited  by  applicable  bankruptcy,
insolvency,  reorganization,  moratorium  and other laws of general  application
affecting  enforcement of creditors'  rights  generally,  and (ii) as limited by
laws relating to the availability of specific performance,  injunctive relief or
other equitable remedies.

                  3.2 Purchase Entirely for Own Account.  This Agreement is made
with Investor in reliance upon such  Investor's  representation  to the Company,
which by such  Investor's  execution  of this  Agreement  such  Investor  hereby
confirms,  that the Stock to be received by such  Investor  will be acquired for
investment for such Investor's own account,  not as a nominee or agent,  and not
with a view to the resale or  distribution  of any part  thereof,  and that such
Investor has no present intention of selling,  granting any participation in, or
otherwise  distributing the same. By executing this Agreement,  Investor further
represents that such Investor does not have any contract, undertaking, agreement
or arrangement with any person to sell, transfer or grant participations to such
person or to any third person, with respect to any of the Securities.

                  3.3  Disclosure  of  Information.  Investor  believes  it  has
received all the information it considers  necessary or appropriate for deciding
whether to purchase the Stock.  Investor  further  represents that it has had an
opportunity to ask questions and receive answers from the Company  regarding the
terms and conditions of the offering of the Stock.

                  3.4  Investment   Experience.   Investor  is  an  investor  in
securities of companies in the  development  stage and  acknowledges  that it is
able to fend for itself,  can bear the economic risk of its  investment  and has
such  knowledge  and  experience  in  financial  or business  matters that it is
capable of evaluating  the merits and risks of the  investment in the Stock.  If
other than an  individual,  Investor also  represents it has not been  organized
solely for the purpose of acquiring the Stock.

                  3.5  Restricted  Securities.  Investor  understands  that  the
shares of Stock it is purchasing are  characterized  as "restricted  securities"
under the federal  securities  laws inasmuch as they are being acquired from the
Company in a  transaction  not  involving a public  offering and that under such
laws  and  applicable   regulations   such  securities  may  be  resold  without
registration under the Securities Act only in certain limited circumstances.  In

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this  connection  Investor  represents  that it is familiar with  Securities and
Exchange Commission Rule 144, as presently in effect, and understands the resale
limitations imposed thereby and by the Securities Act.

                  3.6 Legends. It is understood that the certificates evidencing
the Stock may bear one or all of the following legends:

                                    (a)   "These   securities   have   not  been
registered  under the Securities Act of 1933. They may not be sold,  offered for
sale,  pledged or  hypothecated  in the absence of a  registration  statement in
effect with  respect to the  securities  under such Act or an opinion of counsel
satisfactory  to the Company  that such  registration  is not required or unless
sold pursuant to Rule 144 of such Act."

                                    (b) "These securities are subject to a right
of  first  refusal  and  other  restrictions  on  transfer  as set  forth in the
Company's Bylaws which restrictions are incorporated herein."

                                    (c) Any legend  required  by the laws of the
State of California or other jurisdiction,  including any legend required by the
California Department of Corporations and sections 417 and 418 of the California
Corporations Code.

                  3.7 Accredited Investor. Investor is an accredited investor as
defined in Rule 501(a) of Regulation D of the SEC under the  Securities  Act, as
presently in effect.

                  4. California Commissioner of Corporations.

                  4.1 Corporate Securities Law. THE SALE OF THE SECURITIES WHICH
ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN  QUALIFIED WITH THE  COMMISSIONER
OF  CORPORATIONS  OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES
OR THE  PAYMENT OR RECEIPT OF ANY PART OF THE  CONSIDERATION  THEREFOR  PRIOR TO
SUCH  QUALIFICATION  IS UNLAWFUL,  UNLESS THE SALE OF  SECURITIES IS EXEMPT FROM
QUALIFICATION  BY SECTION 25100,  25102 OR 25105 OF THE CALIFORNIA  CORPORATIONS
CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON
SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.

                  5.  Conditions  of  Investors'  Obligations  at  Closing.  The
obligations  of each  Investor  under  subsection  1.1(b) of this  Agreement are
subject to the  fulfillment  on or before the  Closing of each of the  following
conditions,  the waiver of which shall not be effective unless Investor consents
in writing thereto:

                  5.1  Representations  and Warranties.  The representations and
warranties  of the Company  contained  in Section 2, subject in all cases to the
standard  set forth in Section  2(i) shall be true on and as of the Closing with
the same effect as though such  representations  and warranties had been made on
and as of the date of such Closing (except that  representations  and warranties
that by their  terms speak as of the date of this  Agreement  or some other date
shall be true and correct as of such date).

                  5.2 Performance. The Company shall have performed and complied
with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before the Closing.

                  5.3 Qualifications. All authorizations, approvals, or permits,
if any, of any governmental authority or regulatory body of the United States or
of any state that are required in

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connection with the lawful issuance and sale of the Stock to Investors  pursuant
to this Agreement shall be duly obtained and effective as of the Closing.

                  5.4  Proceedings  and  Documents.   All  corporate  and  other
proceedings in connection with the transactions  contemplated at the Closing and
all documents  incident  thereto,  shall be reasonably  satisfactory in form and
substance to Investors,  and Investors shall have received all such  counterpart
original and certified or other copies of such  documents as such  Investors may
reasonably request.

                  6.  Conditions of the Company's  Obligations  at Closing.  The
obligations of the Company to Investors  under this Agreement are subject to the
fulfillment on or before the Closing of each of the following conditions by such
Investors:

                  6.1  Representations  and Warranties.  The representations and
warranties of Investors contained in Section 3 hereof shall be true on and as of
the Closing with the same effect as though such  representations  and warranties
had been made on and as of the Closing.

                  6.2 Payment of Purchase Price.  Investors shall have delivered
the purchase price specified in Section 1.2.

                  6.3 Qualification. All authorizations,  approvals, or permits,
if any, of any governmental authority or regulatory body of the United States or
of any state that are required in connection  with the lawful  issuance and sale
of the Stock to Investors  pursuant to this Agreement shall be duly obtained and
effective as of the Closing.

                  7. Miscellaneous.

                  7.1 Survival of Warranties.  The  warranties,  representations
and  covenants of the Company  contained in or made  pursuant to this  Agreement
shall survive the execution and delivery of this Agreement and the Closing for a
period of eighteen (18) months (except for covenants herein which by their terms
extend beyond said period) and shall in no way be affected by any  investigation
of the subject matter thereof made by or on behalf of Investors or the Company.

                  7.2  Successors and Assigns.  Except as otherwise  provided in
this  Agreement,  the terms and conditions of this Agreement  shall inure to the
benefit of and be binding  upon the  respective  successors  and  assigns of the
parties.  Nothing in this Agreement,  express or implied,  is intended to confer
upon any party other than the parties hereto or their respective  successors and
assigns any rights, remedies,  obligations, or liabilities under or by reason of
this Agreement, except as expressly provided in this Agreement.

                  7.3  Governing  Law. This  Agreement  shall be governed by and
construed  under the laws of the State of  California  as applied to  agreements
among  California  residents  entered into and to be performed  entirely  within
California, without reference to California conflict of laws provisions.

                  7.3  Counterparts.  This  Agreement  may be executed in two or
more counterparts,  each of which shall be deemed an original,  but all of which
together shall constitute one and the same instrument.

                  7.4 Titles and  Subtitles.  The titles and  subtitles  used in
this  Agreement  are used for  convenience  only and are not to be considered in
construing or interpreting this Agreement.

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                  7.5 Notices. Unless otherwise provided, any notice required or
permitted  under this  Agreement  shall be given in writing  and shall be deemed
effectively  given upon  personal  delivery to the party to be notified (or upon
the date of  attempted  delivery  where  delivery  is  refused)  or,  if sent by
telecopier,   telex,  telegram,  or  other  facsimile  means,  upon  receipt  of
appropriate  confirmation of receipt, or five days after deposit with the United
States Postal Service, by registered or certified mail, or one day after deposit
with next day air courier,  with  postage and fees prepaid and  addressed to the
party  entitled to such notice at the  address  indicated  for such party on the
signature  page hereof,  or at such other address as such party may designate by
ten days' advance written notice to the other parties to this Agreement.

                  7.6  Expenses.  If any action at law or in equity is necessary
to enforce or interpret the terms of this Agreement,  the prevailing party shall
be entitled to reasonable attorneys' fees, costs and necessary  disbursements in
addition to any other relief to which such party may be entitled.

                  7.7  Amendments  and  Waivers.  Except as  otherwise  provided
herein, any term of this Agreement may be amended and the observance of any term
of this  Agreement may be waived (either  generally or in a particular  instance
and either retroactively or prospectively), only with the written consent of the
Company.  Any  amendment or waiver  effected in accordance  with this  paragraph
shall be  binding  upon  each  holder of any  securities  purchased  under  this
Agreement  at  the  time  outstanding  (including  securities  into  which  such
securities are convertible),  each future holder of all such securities, and the
Company; provided,  however, that no condition set forth in Section 5 hereof may
be waived with respect to any Investor who does not consent thereto.

                  7.8 Severability.  If one or more provisions of this Agreement
are held to be  unenforceable  under  applicable  law, such  provision  shall be
excluded  from  this  Agreement  and the  balance  of this  Agreement  shall  be
interpreted  as if such  provision  were so excluded and shall be enforceable in
accordance with its terms.

                  7.9 Choice of Forum.  Each of the parties  hereto by execution
hereof (i) hereby  irrevocably  submits to the  jurisdiction  of the federal and
state courts of the State of  California  located in the County of San Francisco
for the purpose of any action,  suit or proceeding  arising out of or based upon
this Agreement or the subject matter hereof and (ii) hereby waives to the extent
not prohibited by applicable law, and agrees not to assert, by way of motion, as
a defense or otherwise,  in any such action, suit or proceeding,  any claim that
it is not subject personally to the jurisdiction of the above-named courts, that
it is immune from extraterritorial injunctive relief or other injunctive relief,
that its property is exempt or immune from  attachment  or  execution,  that any
such action,  suit or proceeding  may not be brought or maintained in one of the
above-named  courts,  that  any  such  action,  suit or  proceeding  brought  or
maintained  in one of the  above-named  courts should be dismissed on grounds of
forum non  conveniens,  should be transferred to any court other than one of the
above-named  courts,  should be stayed  by virtue of the  pendency  of any other
action,  suit or  proceeding  in any  court  other  than one of the  above-named
courts,  or that this agreement or the subject matter hereof may not be enforced
in or by any of the above- named courts.

                  7.10 Entire Agreement. This Agreement, the Exhibits hereto and
other  documents  delivered  expressly  hereby  constitute  the full and  entire
understanding  and  agreement  between the parties  with regard to the  subjects
hereof  and no party  shall be liable or bound to any other in any manner by any
representations,  warranties, covenants or agreements except as specifically set
forth herein and therein.

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

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                                  BEVERLY HOLDINGS, INC.

                                  By: ____________________________

                                 Title: _________________________

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                             BEVERLY HOLDINGS, INC.
                            STOCK PURCHASE AGREEMENT
                           COUNTERPART SIGNATURE PAGE

                                  [INVESTOR]

                                  By:_______________________________

                                  [INVESTOR]

                                  By:_______________________________

                                  [INVESTOR]

                                  By:_______________________________

                                  [INVESTOR]

                                  By:_______________________________

                                  [INVESTOR]

                                  By:_______________________________

                                       9

<PAGE>10.2

THIS OPTION AND THE  UNDERLYING  SHARES OF COMMON STOCK ISSUED UPON ITS EXERCISE
HAVE NOT BEEN  REGISTERED  UNDER THE  SECURITIES  ACT OF 1933,  AS AMENDED  (THE
"ACT"),  AND NO SALE OR TRANSFER  THEREOF MAY BE EFFECTED  WITHOUT AN  EFFECTIVE
REGISTRATION STATEMENT OR AN OPINION OF COUNSEL FOR THE HOLDER,  SATISFACTORY TO
THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT.

            Right to Purchase up to 800,000 shares of Common Stock
                                      -of-
                             BEVERLY HOLDINGS, INC.
                             ----------------------

                          Common Stock Purchase Option

         BEVERLY HOLDINGS,  INC., a Nevada  corporation (the "Company"),  hereby
certifies that the holder of this Option identified on the signature page hereof
or its assigns (the  "Optionor" or the  "Holder"),  is entitled,  subject to the
terms set forth below,  to purchase from the Company at any time or from time to
time before 5:00 P.M.,  California  time,  on December  31, 2001 (the  "Exercise
Period"),  the number of fully paid and  non-assessable  shares of Common Stock,
par value $.001 per share, of the Company set forth on the signature page hereof
(the "Option  Shares"),  at a purchase price per share of One Dollar  (USD$1.00)
per share  (such  purchase  price per share as  adjusted  from time to time,  as
herein provided, is hereinafter referred to as the "Purchase Price"). The number
and character of such shares of Common Stock and the Purchase  Price are subject
to adjustment as provided herein.
         As used  herein,  the  following  terms,  unless the context  otherwise
requires, have the following respective meanings:
                                    (c)     The  term  "Company"  shall  include
         BEVERLY  HOLDINGS,  INC. and any corporation or other entity that shall
         succeed or assume the obligations of the Company hereunder.

                                    (d)     The term  "Common  Stock" shall mean
         the Company's Common Stock, par value $.001 per share, as authorized on
         the date hereof.

                                    (e)     The term  "Option"  shall  mean this
         Common Stock Purchase  Option.  (f) The term "Option Shares" shall mean
         the shares of Common Stock issuable upon exercise of this Option.

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         2.   Exercise of Options.
              -------------------
                  2.1.Full  Exercise.  This  Option may be  exercised  as to the
Option Shares in full by the Holder  hereof  (without the payment of any further
consideration  than the aggregate  Purchase  Price) by surrender of this Option,
with the attached form of subscription  duly executed by such Holder and payment
in the amount of the Purchase  Price in form and substance  satisfactory  to the
Company and that the Company has  received  payment in cash for each such Option
Share, in aggregate, to the Company at its principal office.
                  2.2. Partial Exercise. This Option may be exercised in part as
to the Option  Shares by the Holder  hereof  (without the payment of any further
consideration)  by  surrender  of this  Option  in the  manner  and at the place
provided  in Section  1.1.  On any such  partial  exercise,  the  Company at its
expense will  forthwith  issue and deliver to the Holder  hereof a new Option or
Options  of  like  tenor,  in the  name of the  Holder  hereof,  calling  in the
aggregate on the face or faces  thereof for the number of shares of Common Stock
for which such Option or Options may still be exercised.
         3.  Delivery  of  Stock  Certificates,  etc.  on  Exercise.  As soon as
practicable  after the  exercise of this  Option in full or in part,  and in any
event  within 10 days  thereafter,  the Company at its expense  will cause to be
issued in the name of and  delivered  to the Holder  hereof,  a  certificate  or
certificates  for the  number of fully paid and  nonassessable  shares of Common
Stock.  The  Company  shall  issue  fractions  of shares of Common  Stock on the
exercise of this Option to the extent required.
         4.  Adjustments  upon  Changes in  Capitalization.  The total number of
shares of Common Stock which may be  purchased  upon the exercise of this Option
shall be  appropriately  adjusted by the Company for any increase or decrease in
the  number  of  outstanding  shares  of  Common  Stock  resulting  from a stock
dividend,  subdivision,  combination, or reclassification of shares or any other
change in the corporate structure or shares of the Company.
         5.   Notices of Record Date.  In the event of
              ----------------------
                                    (a) any taking by the Company of a record of
                  the  Holders  of any class or  securities  for the  purpose of
                  determining  the Holders  thereof who are  entitled to receive
                  any dividend or other distribution,  or any right to subscribe
                  for,  purchase or otherwise acquire any shares of stock or any
                  class or any other  securities or property,  or to receive any
                  other right, or
                                    (b)  any  capital   reorganization   of  the
                  Company,  any  reclassification  or  recapitalization  of  the
                  capital  stock  of  the  Company  or  any  transfer  of all or
                  substantially   all  the   assets   of  the   Company   to  or
                  consolidation  or merger of the Company with or into any other
                  person, or
                                    (c) any     voluntary     or     involuntary
                  dissolution, liquidation or winding- up of the Company, or

                                    (d)  any  proposed  issue  or  grant  by the
                  Company  of any  shares  of  stock of any  class or any  other
                  securities,  or any right or option to subscribe for, purchase
                  or  otherwise  acquire any shares of stock of any class or any
                  other securities  (other than the issue of Common Stock on the
                  exercise of this Option),

then and in each such event the Company  will mail or cause to be mailed to each
Holder of this Option a notice  specifying (i) the date on which any such record
is to be taken for the purpose of such dividend, distribution or right, (ii) the
date on which any such reorganization, reclassification, recapitalization,

                                       2
<PAGE>

transfer,  consolidation,  merger, dissolution,  liquidation or winding-up is to
take  place,  and the time,  if any is to be fixed,  as of which the  Holders of
record of Common Stock (or other securities) shall be entitled to exchange their
shares of Common Stock (or other  securities)  for  securities or other property
deliverable   on  such   reorganization,   reclassification,   recapitalization,
transfer,  consolidation,  merger,  dissolution,  liquidation or winding-up, and
(iii) the amount and  character of any stock or other  securities,  or rights or
options with respect thereto, proposed to be issued or granted, the date of such
proposed  issue or grant  and the  persons  or class  of  persons  to whom  such
proposed issue or grant is to be offered or made. Such notice shall be mailed at
least 20 days  prior to the date  specified  in such  notice  on which  any such
action is to be taken.

         6. Reservation of Stock, etc., Issuable on Exercise of this Option. The
Company will at all times  reserve and keep  available,  solely for issuance and
delivery on the exercise of this Option, all shares of Common Stock from time to
time issuable on the exercise of this Option.

         7.  Representations and Warranties.  The Holder represents and warrants
to the Company that:

                                    (a) It has received, reviewed and been given
                  full access to information appropriate to its determination of
                  whether to invest in the Company; it has further been given an
                  opportunity to discuss issues relevant to its determination of
                  whether  to  invest  in the  Company  with  principals  of the
                  Company.
                                    (b) The  undersigned has full legal capacity
                  to enter into this  Option  and has  sufficient  business  and
                  investment experience to make an independent evaluation of the
                  merits and risks of an investment in the Company.
                                    (c) The undersigned  has carefully  reviewed
                  the merits and risks of, and other considerations relating to,
                  a possible investment in the Company.
                                    (d) The  undersigned has read and understood
                  the   restrictive   legends  set  forth  in  this  Option  and
                  understands that the exercise of the Option, and the resulting
                  issuance of the Company's  common stock, is subject to various
                  restrictions; that the common stock underlying the Option have
                  not and will not be  registered  under the  Securities  Act of
                  1933, as amended,  or under the securities  laws of any state,
                  that the common  stock  underlying  the Option  cannot be sold
                  until they are  registered  under said Act,  or are  otherwise
                  exempt from registration or qualification thereunder; that the
                  Company  will not record the sale or other  transfer of any of
                  the common stock underlying the Option without compliance with
                  said  securities  laws;  and that  the  Holder  must  bear the
                  economic risk of ownership of the common stock  underlying the
                  Option for an indefinite  period of time. The undersigned,  on
                  behalf of the  Holder,  shall not sell,  assign,  transfer  or
                  otherwise  dispose of all or any part of the  common  stock or
                  its interest therein except in compliance with applicable U.S.
                  Federal and State securities laws.
                                    (e)   The   undersigned   understands   that
                  Holder's  investment in the common stock underlying the Option
                  is not  liquid and that such  investment  is  speculative  and
                  involves considerable risk. The undersigned,  on behalf of the
                  Holder,  has adequate means of providing for its current needs
                  and personal  contingencies  and has no need for  liquidity in
                  this investment.
                                    (f) Except for this  Option  Agreement,  and
                  any other  information  that its advisors  have  requested and
                  received  directly from the Company,  neither the  undersigned
                  nor its  advisors  have  been  furnished  any  other  offering
                  material or literature upon which we have relied in connection
                  with the  determination  of  whether  or not to  purchase  the
                  common stock underlying the Option.
                                    (g)  The   undersigned   and  the   Holder's
                  advisors,  if any, have had an  opportunity  to review all the
                  pertinent   facts,  to  ask  questions,   and  to  obtain  any
                  additional information,  to the extent possessed or obtainable
                  without   unreasonable  effort  and  expense,   regarding  the
                  Company, its key employees, its business, financial condition,

                                       3
<PAGE>

                  the  offering  of the Option and the common  stock  underlying
                  such Option,  the risks of  investment  in the Company and any
                  other matters relating to any of the above, and any additional
                  information   necessary   to  verify  the   accuracy   of  any
                  representation  made or information  set forth by the Company.
                  The Company has supplied all material  requested,  if any, and
                  has given complete and satisfactory  answers to all inquiries,
                  if any, that the Holder's  advisors and the  undersigned  have
                  put to it concerning the matters listed above.
                                    (h)  All  information  the  undersigned  has
                  supplied  in the  Option  Agreement  is  true,  accurate,  and
                  complete and fairly  reflects the situation to the best of the
                  undersigned's knowledge.
                                    (i) The offer and sale of the  common  stock
                  underlying  the  Option  to the  Holder  has  been  made in an
                  offshore transaction, meaning the offer was made to the Holder
                  outside the United States and, if the Option is exercised, the
                  Holder  is buying  the  common  stock  underlying  the  Option
                  outside the United States.  The undersigned  certifies that he
                  is not a U.S. person and that the Holder is not a U.S. entity,
                  meaning that neither he nor the Holder resides or is domiciled
                  in  the  United  States  of  America,   its   territories   or
                  possessions,  or  any  State  of  the  United  States,  or the
                  District of Columbia.
                                    (j) Neither the undersigned, nor the Holder,
                  is acquiring the common stock underlying the Option as part of
                  any activity  undertaken for the purpose of  conditioning  the
                  market  for  common  stock in the  United  States and will not
                  refer to its purchase of the common stock in any advertisement
                  in any  publication  of  general  circulation  in  the  United
                  States.
                                    (k) The  undersigned  understands  that  the
                  information  provided  by the Company in  connection  with the
                  purchase of the common  stock  underlying  the Option does not
                  constitute legal, investment, tax or other advice.
                                    (l) The Holder acknowledges that a legend to
                  the  following  effect will appear or be deemed to appear upon
                  any certificate  representing  the common stock underlying the
                  Option:

         THE SHARES  REPRESENTED BY THIS  CERTIFICATE  HAVE NOT BEEN  REGISTERED
         UNDER THE SECURITIES  ACT OF 1933, AS AMENDED (THE "ACT").  SUCH SHARES
         CANNOT  BE  OFFERED  OR  SOLD  EXCEPT  PURSUANT  TO  (A)  AN  EFFECTIVE
         REGISTRATION  STATEMENT,  OR (B) AN OPINION OF COUNSEL  FOR THE HOLDER,
         SATISFACTORY TO COUNSEL FOR THE COMPANY,  THAT SUCH REGISTRATION IS NOT
         REQUIRED UNDER THE ACT.

                                       4
<PAGE>

         8.  Replacement  of this  Option.  On  receipt of  evidence  reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of any
Option and, in the case of any such loss, theft or destruction of any Option, on
delivery of an indemnity agreement or security  reasonably  satisfactory in form
and amount to the Company or, in the case of any such  mutilation,  on surrender
and  cancellation of such Option,  the Company at Holder's  expense will execute
and deliver, in lieu thereof, a new Option of like tenor.
         9. Option  Agent.  The Company may, by written  notice to the Holder of
this  Option,  appoint an agent for the purpose of issuing  Common  Stock on the
exercise  of this  Option  pursuant  to Section 1 hereof and  replacing  Options
pursuant to Section 6 hereof,  or either of the  foregoing,  and  thereafter any
such issuance or  replacement,  as the case may be, shall be made at such office
by such agent.
         10. Negotiability, etc. This Option is issued upon the following terms,
to all of which each Holder or owner  hereof by the taking  hereof  consents and
agrees:
                  If in compliance with all applicable law, this Option is fully
assignable by the Holder without the Company's prior written consent; and

                  Until the Company  receives  written notice of any transfer of
the Option,  the Company may treat the registered  Holder hereof as the absolute
owner hereof for all purposes.

         11. Notices, etc. All notices and other communications from the Company
to the  Holder  of this  Option  shall be mailed by first  class  registered  or
certified  mail,  postage  prepaid,  or Federal  Express or any other  generally
recognized  overnight  courier at such address as may have been furnished to the
Company in writing by such  Holder or,  until any such Holder  furnishes  to the
Company an  address,  then to, and at the  address  of, the last  Holder of this
Option who has so furnished an address to the Company.
         12.  Miscellaneous.  This  Option and any term  hereof may be  changed,
waived,  discharged or terminated only by an instrument in writing signed by the
party against which enforcement of such change, waiver, discharge or termination
is sought.  This Option shall be construed and enforced in  accordance  with and
governed by the laws of the State of California. The headings in this Option are
for purposes of references  only, and shall not limit or otherwise affect any of
the terms hereof.  The invalidity or  unenforceability  of any provision  hereof
shall in no way affect the validity or enforceability of any other provision. If
any arbitration,  litigation, action, suit, or other proceeding is instituted to
remedy,  prevent or obtain relief from a breach of this Option, in relation to a
breach of this  Option or  pertaining  to a  declaration  of rights  under  this
Option,  the  prevailing  party will  recover all such party's  attorneys'  fees
incurred in each and every such action, suit or other proceeding,  including any
and all appeals or petitions therefrom.

                                       5
<PAGE>

Dated as of April ___, 2001
                                      BEVERLY HOLDINGS, INC.

                                      By:
                                      Title: ________________________________

OPTION HOLDER:

INTERNATIONAL FIDUCIARY TRUST & HOLDINGS, S.A.

Number of Option Granted:           800,000 shares

                                       6
<PAGE>

                              FORM OF SUBSCRIPTION
                 (To be signed only on exercise of this Option)
                OPTION EXERCISE NOTICE AND SUBSCRIPTION AGREEMENT

Attention:  Corporate Secretary

         1. Exercise of Option. The undersigned  ("Purchaser")  hereby elects to
purchase __________________________ shares (the "Shares") of common stock, $.001
par value,  of Beverly  Holdings,  Inc. (the  "Company"),  pursuant to the stock
option agreement as of April ___, 2001, by and between  ___________________  and
the Company (the "Option").  All capitalized  terms not otherwise  defied herein
shall have the meanings set forth in the Option.

          2. Representations of Purchaser. Purchaser
              represents and Options to the Company that:

                                    (a)  Purchaser   has   received,   read  and
                  understands:  (i) the Option;  and (ii) this  Option  Exercise
                  Notice and Agreement  ("Agreement")  and agrees to be bound by
                  the terms and conditions thereof.
                                    (b) Purchaser has access to all  information
                  regarding   the  Company  and  its  present  and   prospective
                  business,  assets,  liabilities and financial  condition which
                  have been filed with the  Securities  and Exchange  Commission
                  pursuant  to  Section  13 of the  Securities  Act of 1934,  as
                  amended  (the  "Exchange  Act"),  and  Purchaser  has  had the
                  opportunity to ask questions of the Company's  representatives
                  concerning such matters and this investment.
                                    (c) Purchaser is fully aware that investment
                  in the  Shares  involves  risk and that no  assurances  can be
                  given as to the future performance of the Shares.
                                    (d) If Purchaser is "directly or  indirectly
                  the beneficial  owner of more than 10 per cent of the Shares,"
                  or an  "officer"  or  "director"  of the  Company,  within the
                  meaning  of  Section  16  of  the  Exchange   Act,   Purchaser
                  recognizes that the Shares  purchased  hereby may give rise to
                  liability to the Company for short swing profits under Section
                  16 of the Exchange Act.
                                    (e)  Purchaser is  acquiring  the Shares for
                  Purchaser's own account and for investment and not with a view
                  to  distribution.  The Purchaser  understands that such Shares
                  may not have been registered under the Securities Act of 1933,
                  as amended (the "Act"), and, accordingly,  such Shares may not
                  be sold or transferred in the absence of such  registration or
                  exemption therefrom under the Act.
                                    (f) Purchaser is not  purchasing  the Shares
                  on the  basis  of  material  information  that  has  not  been
                  publicly disclosed.
                                    (g) If  Purchaser  effects a transfer of any
                  of the Shares  purchased  hereby  which  does not comply  with
                  applicable  law or any of the  provisions  of this  Agreement,
                  Purchaser  agrees to indemnify  and hold the Company  harmless
                  from any loss, liability,  claim, damage or expense occasioned
                  thereby, including, without limitation,  reasonable attorney's
                  fees and costs of suit.
                                    (h) Purchaser  acknowledges  and understands
                  that no United States  federal or state agency has passed upon
                  or  made  any  recommendation  or  endorsement  of the  Shares
                  purchased hereby.

                                       7
<PAGE>

                                    (i)  Purchaser  is  fully  aware  of the tax
                  consequences  associated  with the  exercise of the Option and
                  the disposition of the Shares acquired thereby.

         3.  Restrictive  Legend.  Purchaser  understands and agrees that if the
sale by  Purchaser  of the Shares is not  covered by an  effective  Registration
Statement under the Securities Act the Company may, in its discretion, cause the
legend set forth  below,  or a legend  substantially  equivalent  hereto,  to be
placed upon any  certificate(s)  evidencing  ownership  of the Shares  purchased
hereby, together with any other legends that may be required by state or federal
securities laws:

         THE SHARES  REPRESENTED BY THIS  CERTIFICATE  HAVE NOT BEEN  REGISTERED
         UNDER THE SECURITIES  ACT OF 1933, AS AMENDED (THE "ACT").  SUCH SHARES
         CANNOT  BE  OFFERED  OR  SOLD  EXCEPT  PURSUANT  TO  (A)  AN  EFFECTIVE
         REGISTRATION  STATEMENT,  OR (B) AN OPINION OF COUNSEL  FOR THE HOLDER,
         SATISFACTORY TO COUNSEL FOR THE COMPANY,  THAT SUCH REGISTRATION IS NOT
         REQUIRED UNDER THE ACT.

         4. Notice. Any notice required or permitted hereunder shall be given in
writing and shall be deemed  effectively  given upon  personal  delivery or upon
deposit in the United  States  mail by  certified  or  registered  mail,  return
receipt requested,  with postage and fees prepaid,  addressed to the other party
at its address as shown below beneath its signature, or to such other address as
such party may designate in writing from time to time to the other party.

                           5.       Further  Instruments.  The parties  agree to
                  execute  such  further  instruments  and to take such  further
                  action  as  may be  reasonably  necessary  to  carry  out  the
                  purposes and intent of this Agreement.

                           6.       Entire Document.  The Option  (including the
                  Registration   Terms  and  Conditions   attached  thereto)  is
                  incorporated  herein  by  reference.  This  Agreement  and the
                  Option  constitute  the entire  agreement  of the  parties and
                  supersede all prior undertakings, agreements, representations,
                  warranties  and  understandings  with  respect to the  subject
                  matter hereof.

                           7.       Headings.  The  headings  contained  in this
                  Agreement are for  reference  only and shall not affect in any
                  way the meaning or interpretation of this Agreement.

                           8.       Governing Law. This Agreement and all action
                  taken hereunder  shall be enforced,  governed and construed by
                  and  interpreted  under  the laws of the  State of  California
                  applicable to contracts made and to be performed wholly within
                  such State without giving effect to the principles of conflict
                  of laws thereof.

                           9.      Purchase   Price;   Delivery   of   Payment;
                  Withholding.  The  purchase  price  of  the  Shares  purchased
                  hereunder is  $_________,  being equal to the number of Shares
                  to be  purchased  hereunder  pursuant  to the  exercise of the
                  Option  described  in  Paragraph 1 hereof,  multiplied  by the
                  exercise  price as set forth in the Option.  Purchaser  hereby
                  pays the purchase  price of  $_________ in full by delivery of
                  $________ in cash.

                                       8
<PAGE>

     IN WITNESS WHEREOF, Purchaser has executed this Agreement this _____ day of

                            Name: ______________________________________

                            Address: ____________________________________

                            --------------------------------------------

                            --------------------------------------------

                                       9
<PAGE>

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