Document:

EXHIBIT 10.1 - Order to Cease and Desist

                            UNITED STATES OF AMERICA

                                   Before The

                          OFFICE OF THRIFT SUPERVISION

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

In the Matter of:

ALGIERS HOMESTEAD ASSOCIATION
New Orleans, Louisiana

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                            ORDER TO CEASE AND DESIST

                             FOR AFFIRMATIVE RELIEF

          Whereas, Algiers Homestead Association, New Orleans, Louisiana
(Algiers or Association), OTS Docket No. 03667, by and through its Board of
Directors (Board), has executed a Stipulation and Consent to the Issuance of an
Order to Cease and Desist for Affirmative Relief (Stipulation); and

          WHEREAS, Algiers, in the Stipulation, has consented and agreed to the
issuance of this Order to Cease and Desist for Affirmative Relief (Order),
pursuant to 12 U.S.C. Section 1818(b)'; and

          WHEREAS, the Deputy Director of the Office of Thrift Supervision
(OTS), pursuant to delegated authority, has delegated to the Regional Directors
of OTS the authority to issue Orders to Cease and Desist for Affirmative Relief
on behalf of OTS where the Association that is the subject of the Orders has
consented to the issuance of the Orders.

          NOW THEREFORE, IT IS ORDERED THAT, Algiers and its directors,
officers, employees, and agents shall cease and desist from any action (alone or
with another or others) for or toward causing, bringing about, participating in,
counseling, or aiding and abetting any unsafe or unsound practice or any
violation of:

     (a)    12 U.S.C. Sections 1951-1959; Treasury Department's implementing
            regulations, 31 C.F.R. Part 103; and OTS's implementing regulation,
            12 C.F.R. Section 563.177;

     (b)    12 U.S.C. Sections 1601-1693r and implementing regulations,
            12 C.F.R. Part 226;

     (c)    42 U.S.C. Sections 4001-4128, and OTS's implementing regulations,
            12 C.F.R. Part 572;

     (d)    12 C.F.R. Sections 560.35 and 560. 120;

     (e)    12 C.F.R. Part 535; and

     (f)    12 U.S.C. Sections 280 1-2810, and OTS's implementing regulations,
            12 C.F.R. Part 203

All references to the United States Code (U.S.C.) are as amended.

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IT IS FURTHER ORDERED THAT:

                              CORRECTIVE PROVISIONS

 1.  Appointment of Management.

          Within 90 days of the Effective Date of this Order, the Board of
     Directors of Algiers (Board) shall appoint a qualified, permanent
     compliance officer to administer and oversee the implementation of consumer
     compliance policies and procedures at the Association.

 2.  Policies and Procedures.

          Within 120 days of the Effective Date of this Order, the Board shall
     develop and approve written compliance policies and procedures. These
     policies and procedures shall address all consumer compliance laws and
     regulations. The Board shall amend the Association's policies and
     procedures as directed by the Regional Director of the Midwest Region of
     OTS or his or her designee (Regional Director).

 3.  Training of Lending Personnel.

          Within 60 days of the Effective Date of this Order, the Board shall
     develop and implement a plan (a) to provide to all lending personnel the
     appropriate training in all consumer compliance laws and regulations
     applicable to the Association's lending function; and (b) to train all
     lending personnel in the compliance policies and procedures implemented
     pursuant to Paragraph 2 of this Order.

 4.  Reports to OTS.

          By the 15th day of the end of each quarter, the Association's
     management shall submit to OTS monthly reports on the progress made by the
     Association in correcting violations noted in the OTS Compliance Report of
     Examination dated April. 10, 2000 (ROE), and in developing and
     implementing, written compliance policies and procedures.

5.    Compliance Management Plan.

          Within 90 days of the Effective Date of this Order, the Board shall
     establish a plan for internal controls and procedures to ensure conformance
     with compliance regulations as detailed in the ROE. Such plan shall provide
     an ongoing monitoring program to assess the effectiveness of compliance
     controls and an assessment of actions taken to correct previously noted
     compliance deficiencies. The plan shall also provide for an independent
     review of the Association's compliance program in accordance with a
     schedule approved by the Board. The Board shall amend this plan as directed
     by the Regional Director.

 6.  EEO Training.

          Within 120 days of the Effective Date of this Order, the Association
     shall provide training regarding Equal Employment Opportunity requirements
     and OTS Regulation, 12 C.F.R. Section 528.7, to its directors and senior
     management.

 7.  Truth in Lending -Regulation Z.

All references to the United States Code (U.S.C.) are as amended.

                                        2

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     (a)    The Association shall comply with all requirements of the Truth in
            Lending Act, 15 U.S.C. Sections 1601-1693r (TILA), and of 12 C.F.R.
            Part 226.

     (b)    Within 60 days of the Effective Date of this Order, the Association
            shall review all outstanding loans made since the last OTS
            compliance examination, dated June 23, 1997, to determine whether
            the loans complied with TILA, Regulation Z, and other applicable
            requirements. Within 90 days of the Effective Date of this Order,
            the Association shall seek advice of counsel, who has significant
            experience in consumer lending issues and who has not performed any
            prior legal work for the Association or its holding company,
            regarding the appropriate actions to take to correct any deficiency
            or violation resulting from those loans reviewed pursuant to this
            paragraph, including, but not limited to, restitution. Within 120
            days of the Effective Date of this Order, the Association shall
            submit a copy of this review to OTS, including a summary of actions
            taken or to be taken.

     (c)    Within 60 days of the Effective Date of this Order, the Association
            shall pay a total restitution of $2,751 to borrowers for TILA
            violations noted in the ROE.

 8.  Bank Secrecy Act.

          The Association shall file all Currency Transaction Report forms in
     compliance with the Bank Secrecy Act, 12 U.S.C. Sections 1951-1959, and in
     compliance with 12 C.F.R. Section 103.27.

9.   Flood Disaster Protection Act.

     (a)    The Association shall comply with all requirements of the Flood
            Disaster Protection Act, 42 U.S.C. Sections 4001-4128, and with 12
            C.F.R. Part 572.

     (b)    Within 90 days of the Effective Date of this Order, the Association
            shall review all outstanding loans made since the last OTS
            compliance examination, dated June 23, 1997, to determine whether
            flood determinations were made and, if not, shall make them.

 10. OTS Mortgage Regulations.

     (a)    The Association shall comply with all requirements of 12 C.F.R.
            Sections 560.35(a) and 560.2 10.

     (b)    Within 60 days of the Effective Date of this Order, the Association
            shall review all outstanding loans made since the last OTS
            compliance examination, dated June 23, 1997, (i) to determine
            whether adjustable rate mortgages caps were included in the
            borrowers' contracts; and (ii) to determine whether the appropriate
            rate adjustments were done. Within 90 days of the Effective Date of
            this Order, the Association shall seek advice of counsel, who has
            significant experience in consumer lending issues and who has not
            performed any prior legal work for the Association or its holding
            company, about the appropriate actions to take to correct any
            violations of 12 C.F.R. Sections 560.35(a) and 560.210 or any
            deficiencies in the borrowers' contracts. Within 120 days of the
            Effective Date of this Order, the Association shall submit a copy of
            this review to OTS, including a summary of actions taken or to be
            taken.

 II. OTS Consumer Credit Practices Regulations.

          The Association shall comply with 12 C.F.R. Section 535.3(b).

All references to the United States Code (U.S.C.) are as amended.

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 12. Home Mortgage Disclosure Act.

          The Association shall collect and record loan data in compliance with
     the Home Mortgage Disclosure Act, 12 U.S.C. Sections 2801-2810 (H~ADA), and
     12 C.F.R. Section 203.4

 13. Supervisory Agreement To Remain in Effect.

          The Supervisory Agreement entered into by the Association and OTS,
     effective May 18, 2000, remains in full force and effect and is not in any
     way superseded or modified by the terms of this Order.

14.      Director Responsibility.

          Notwithstanding the requirements of this Order that the Board submit
     various matters to the Regional Director for the purpose of receiving his
     approval, non-objection, or notice of acceptability, such regulatory
     oversight does not derogate or supplant each individual director's
     continuing fiduciary duty. The Board shall have the ultimate responsibility
     for overseeing the safe and sound operation of the Association at all
     times, including compliance with the determinations of the Regional
     Director as required by this Order.

 15. Compliance with Order.

     (a)    The Board and officers of the Association shall take immediate
            action to cause the Association to comply with the terms of this
            Order and shall take all actions necessary or appropriate thereafter
            to cause the Association to continue to carry out the provisions of
            this Order.

     (b)    The Board, on a monthly basis, shall adopt a Board resolution (the
            Compliance Resolution) formally resolving that, following a diligent
            inquiry of relevant information (including reports of management),
            to the best of its knowledge and belief, during the immediately
            preceding calendar month the Association has complied with each
            provision of this Order currently in effect, except as otherwise
            stated. The Compliance Resolution shall: (i) specify in detail how,
            if at all, full compliance was found not to exist; and (ii) identify
            all notices of exemption issued by the Regional Director that were
            outstanding as of the date of its adoption.

     (c)    The minutes of the meeting of the Board shall set forth the
            following information with respect to the adoption of each
            Compliance Resolution: (i) the identity of each director voting in
            favor of its adoption; and (ii) the identity of each director voting
            in opposition to its adoption or abstaining from voting thereon,
            setting forth each Director's reasoning for opposing or abstaining.

     (d)    No later than the 25th Calendar Day of the month following the end
            of a calendar quarter, beginning with the end of the first
            calendar quarter following the effective Date of this Order, the
            Association shall provide to the Regional Director a certified true
            copy of the Compliance Resolutions adopted at the Board meeting of
            each month in such calendar quarter. The Board, by virtue of the
            Association's submission of a certified true copy of each such
            Compliance Resolution to the Regional Director, shall be deemed to
            have certified to the accuracy of the statements set forth in each
            Compliance Resolution, except as provided below. In the event that
            one or more Directors do not agree with the representations set
            forth in a Compliance Resolution, such disagreement shall be noted
            in the minutes of the Association.

     (e)    The Board shall promptly respond to any request from OTS for
            documents that OTS reasonably requests to demonstrate compliance
            with this Order.

All references to the United States Code (U.S.C.) are as amended.

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                            MISCELLANEOUS PROVISIONS

 16. Definitions.

     (a)    All technical words or terms used in this Order and the Stipulation
            for which meanings are not specified or otherwise provided by the
            provisions of this Order shall, insofar as applicable, have meanings
            as defined in Chapter V of Title 12 of the Code of Federal
            Regulations Home Owners' Loan Act (HOLA), FDJA or OTS Publications.
            Any such technical words or terms used in this Order and the
            Stipulation and undefined in said Code of Federal Regulations. HOLA,
            FDIA, or OTS Publications shall have meanings that are in accordance
            with the best custom and usage in the savings and loan industry.

     (b)    For purposes of this Order, the phrase "Effective Date" shall mean
            the date upon which OTS, acting through its authorized
            representative, signs this Order as noted in the caption above.

 17. Successor Statutes, Regulations, Guidance, and Amendments.

          Reference in this Order and the Stipulation to provisions of statutes,
     regulations, and OTS Publications shall be deemed to include references to
     all amendments to such provisions as have been made as of the Effective
     Date of this Order, and references to successor provisions as they become
     applicable.

 18. Notices.

     (a)    Except as otherwise provided herein, any request, demand,
            authorization, direction, notice, consent, waiver, or other document
            provided or permitted by the Order to be made upon, given or
            furnished to, delivered to, or filed with:

                (i)     OTS, by the Association, shall be sufficient for every
                        purpose hereunder if in writing and mailed, first class,
                        postage prepaid or sent via overnight delivery service
                        or physically delivered, in each case addressed to the
                        Regional Director, Office of Thrift Supervision,
                        Department of the Treasury, 122 West Carpenter Freeway,
                        Suite 600, Irving, Texas 75039 or telecopied to
                        972-281-2001 and confirmed by first class mail, postage
                        prepaid, overnight delivery service or physically
                        delivered, in each case to the above address.

                (ii)    The Association by OTS, shall be sufficient for every
                        purpose hereunder if in writing and mailed, first class,
                        postage prepaid, or sent via overnight delivery service
                        or physically delivered, in each case addressed to the
                        Association at One Westbank Expressway, New Orleans,
                        Louisiana 70174-6308 or telecopied to 504-367-8223 and
                        confirmed by first class mail, postage prepaid,
                        overnight delivery service or physically delivered, in
                        each case to the above address.

All references to the United States Code (U.S.C.) are as amended.

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     (b)    Notices hereunder shall be effective upon receipt, if by mail,
            overnight delivery service, or telecopy, and upon delivery, if by
            physical delivery. If there is a dispute about the date on which a
            written notice has been received by a party to this Order, then, in
            the event such notice was sent by the United States mail, there
            shall be a presumption that the notice was received two Business
            Days after the date of the postmark on the envelope in which the
            notice was enclosed.

 19. Duration, Termination or Suspension of Order.

          This Order shall remain in effect until terminated, modified, or
     suspended in writing by OTS, acting through its Director, its Deputy
     Director, or the Regional Director (including any authorized designee or
     successor thereof). The Regional Director, in his or her sole discretion,
     may, by written notice, suspend, modify, or terminate any or all provisions
     of this Order.

 20. Time Limits.

          Time limitations for compliance with the terms of this Order run from
     the Effective Date, unless otherwise noted.

 21. Separability Clause.

          In case any provision in this Order is ruled to be invalid, illegal,
     or unenforceable by the decision of any Court of competent jurisdiction,
     the validity, legality, and enforceability of the remaining provisions
     hereof shall not in any way be affected or impaired thereby, unless the
     Regional Director in his or her sole discretion determines otherwise.

 22. Incorporation.

          The Stipulation is made a part hereof and is incorporated herein by
reference.

 23. No Violations of Law, Rule, Regulation or Policy Statement Authorized; OTS
     Not Restricted;  Relation To State Law.

     (a)    Nothing in this Order shall be construed as: (i) allowing the
            Association to violate any law, rule, regulation, or policy
            statement to which it is subject; or (ii) restricting or estopping
            OTS from taking any action(s) that it believes are appropriate in
            fulfilling the responsibilities placed upon it by law.

     (b)    As an association chartered under state law and subject to
            regulation and supervision by a state regulatory authority, the
            Association may be subject to various restrictions imposed by the
            appropriate state regulatory authority. The Association must
            continue to comply with any such restrictions, notwithstanding the
            receipt by the Association of authorizations or notices of
            non-objection of the Regional Director, except to the extent that
            such restrictions have been deemed to be preempted by federal law or
            regulation.

 24. Successors in Interest/Benefit.

          The terms and provisions of this Order shall be binding upon, and
     inure to the benefit of, the parties hereto and their successors in
     interest. Nothing in this Order, express or implied, shall give to any
     person or entity,

All references to the United States Code (U.S.C.) are as amended.

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<PAGE>

     other than the parties hereto and the Federal Deposit Insurance Corporation
     (FDIC) and their successors hereunder, any benefit or any legal or
     equitable right, remedy or claim under this Order. For purposes of this
     Order, the FDIC will be the successor in interest to OTS for purposes of
     monitoring compliance with, and enforcing the provisions of, this Order, in
     the event that Algiers is no longer subject to OTS jurisdiction.

THE OFFICE OF THRIFT SUPERVISION

By:         /S/ SIGNED
         ---------------------------
          Frederick R. Casteel
          Regional Director

         Midwest Region

<PAGE>

                            UNITED STATES OF AMERICA

                                   Before The

                          OFFICE OF THRIFT SUPERVISION

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

In the Matter of:

ALGIERS HOMESTEAD ASSOCIATION,

New Orleans, Louisiana

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

                   STIPULATION AND CONSENT TO THE ISSUANCE OF
               AN ORDER TO CEASE AND DESIST FOR AFFIRMATIVE RELIEF

          WHEREAS, the Office of Thrift Supervision (OTS), based upon
information derived from the exercise of its regulatory responsibilities, is of
the opinion that grounds exist to initiate administrative cease and desist
proceedings against Algiers Homestead Association, New Orleans, Louisiana,
(Algiers or Association) (OTS Docket No. 3667), pursuant to 12 U.S.C. Section
1818(b).'

          WHEREAS, Algiers desires to cooperate with OTS and to avoid the time
and expense of such administrative enforcement proceedings. Without any
adjudication on the merits, Algiers neither admits nor denies that grounds exist
for an administrative enforcement proceeding and neither admits nor denies the
Findings of Fact or opinions and conclusions of OTS, as set forth in Paragraph
2, below. Algiers admits the jurisdiction of OTS as set forth in Paragraph 1,
below. Algiers hereby stipulates and agrees to the following:

 1.  Jurisdiction.

     (a)    Algiers is a "savings  association" within the meaning of 12 U.S.C.
            Section 1813(b) and 12 U.S.C. Section 1462(4). Accordingly, it is an
            "insured depository institution" as that term is defined in 12
            U.S.C. Section 18 13(c).

     (b)    Pursuant to 12 U.S.C. Section 1813(q), the Director of OTS is the
            "appropriate Federal banking agency" to maintain administrative
            enforcement proceedings against such a savings association.
            Therefore, Algiers is subject to the jurisdiction of OTS to initiate
            and maintain administrative enforcement proceedings against it
            pursuant to 12 U.S.C. Section 1818(b). The Deputy Director of OTS,
            pursuant to delegated authority, has delegated to the Regional
            Director of the Midwest Region of OTS (Regional Director) the
            authority to issue orders where the association subject to the order
            has consented to its issuance.

2.       OTS Findings of Fact.

          OTS finds that, as further discussed in the Report of Examination for
     the examination of Algiers commenced on April 10, 2000, Algiers has failed
     to comply with:

     (a)    12 U.S.C. Sections 1951-1959, Treasury Department's implementing
            regulations, 31 C.F.R. Part 103, and OTS's implementing regulation
            12 C.F.R. Section 563.177;

All references to the United States Code (U.S.C.) are as amended.

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<PAGE>

     (b)    15 U.S.C. Sections 160 1-1693r and implementing regulations,
            12 C.F.R. Part 226;

     (c)    42 U.S.C. Sections 4001-4128 and implementing regulations,
            12 C.F.R. Part 572;

     (d)    12 C.F.R. Sections 560.35 and 560.2 10;

     (e)    12 C.F.R. Part 535; and

     (f)    12 U.S.C. Sections 2801-2810 and implementing regulations,
            12 C.F.R. Part 203.14

 3.  Consent.

          The Association consents to the issuance by OTS of the accompanying
     Consent Order to Cease and Desist for Affirmative Relief (Order). It
     further agrees to comply with the terms of the Order upon issuance, and
     stipulates that the Order complies with all requirements of law.

 4.  Finality.

          The Order is issued pursuant to 12 U.S.C. Section 18 18(b). Upon its
     issuance by OTS, it shall be a final order, effective and fully enforceable
     by OTS or another appropriate federal banking agency under the provisions
     of 12 U.S.C. Section 18 18(i).

 5.  Waivers. The Association waives the following:

     (a)    the right to be served with a written notice of charges of OTS's
            charges against it as provided by 12 U.S.C. Section 1818(b);

     (b)    the right to an administrative hearing of OTS's charges against it
            as provided by 12 U. S.C. Section 1818(b);

     (c)    the right to seek judicial review of the Order, including, without
            limitation, any such right provided by 12 U.S.C. Section 1818(h), or
            otherwise to challenge the validity of the Order;

     (d)    the right to assert this proceeding, this consent to issuance of the
            Order, the issuance of the Order, the payment of any monies, or the
            provision of any other financial relief as contemplated by the
            Order, as the basis for a claim of double jeopardy in any pending or
            future proceeding brought by the United States Department of Justice
            or any other governmental entity; and

     (e)    any and all claims against OTS, including its employees and agents,
            and any other governmental entity for the award of fees, costs, or
            expenses related to this OTS administrative enforcement matter
            and/or the Order, whether arising under common law, the Equal Access
            to Justice Act, 5 U.S.C. Section 504, or 28 U.S.C. Section 2412.

 6.  Other Governmental Actions Not Affected.

          Algiers acknowledges and agrees that its consent to the issuance of

All references to the United States Code (U.S.C.) are as amended.

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     the Order is solely for the purpose of resolving this OTS enforcement
     matter with regard to the violations set forth in Paragraph 2 hereof to the
     extent known by the OTS at the time the Order is issued, with the exception
     of civil money penalty assessments brought under the Flood Disaster
     Protection Act, 42 U.S.C. Sections 4001-3128. Algiers acknowledges and
     agrees that its consent to the issuance of the Order (a) does not otherwise
     release, discharge, compromise, settle, dismiss, resolve, preclude, or in
     any way affect any actions, charges against, or liability of Algiers that
     arise pursuant to this action or otherwise, and that may be or have been
     brought by OTS or another governmental entity, including, but not limited
     to, actions that may be taken by OTS or any other government entity against
     institution-affiliated parties with regard to the same or different subject
     matters; and (b) does not release, discharge, compromise, settle, dismiss,
     resolve, preclude, or in any way affect any actions, charges against, or
     other administrative, civil, or criminal proceeding, that may be or has
     been brought by OTS or another governmental entity against Algiers.

 7.  Agreement for Continuing Cooperation.

          Algiers agrees that, on reasonable notice and without service of a
     subpoena, it will promptly respond to any written request from OTS for
     documents that OTS reasonably requests to demonstrate compliance with the
     Order.

 8.  Miscellaneous.
     -------------

     (a)    The construction and validity of this Stipulation and the Order
            shall be governed by the laws of the United States of America;

     (b)    All  references to OTS in this Stipulation and the Order shall also
            mean any of OTS's  predecessors, successors, and assigns;

     (c)    The section and paragraph headings in this Stipulation and the Order
            are for convenience only, and such headings shall not affect the
            interpretation of this Stipulation or the Order;

     (d)    The terms of this Stipulation and the Order represent the final
            agreement of the parties with respect to the subject matters hereof,
            with the exception of civil money penalty assessments brought under
            the Flood Disaster Protection Act, 4Z U.S.C. Sections 4001-4128, and
            constitute the sole agreement of the parties with respect to such
            subject matters; and

     (e)    This Stipulation and the Order shall remain in effect until
            terminated, modified, or suspended in writing by OTS, acting through
            its Director, Deputy Director, Regional Director, or other
            authorized representative.

 9.  Signature of Directors.

          Each Director signing this Stipulation attests that s/he voted in
     favor of a Board resolution authorizing execution of the Stipulation.

     WHEREFORE, on this fourth day of October, 2000, Algiers, by a majority of
its directors, executes this Stipulation and Consent to the Issuance of an Order
to Cease and Desist, intending to be legally bound hereby.

ALGIERS HOMESTEAD ASSOCIATION
by a majority of its directors

All references to the United States Code (U.S.C.) are as amended.

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<PAGE>

By:  /S/ SIGNED                                /S/  SIGNED
  ------------------------------------------------------------------------------
     Thomas L. Arnold, Director                Janice Humphrey Ray, Director

     /S/ SIGNED                                /S/  SIGNED
--------------------------------------------------------------------------------
     Thu Dang, Director                       Hugh E. Humphrey, III, Director

     /S/ SIGNED                               /S/  SIGNED
--------------------------------------------------------------------------------
     John Gary, Director                      Frank Minor, Director

ACCEPTED on the date of the Order by:

OFFICE OF THRIFT SUPERVISION

By:   /S/ SIGNED

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

     Frederick R. Casteel
     Regional Director
     Midwest Region

All references to the United States Code (U.S.C.) are as amended.

                                       10EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT ("Agreement") is made and entered into as of
the 8th day of May, 2000, by and between PEDIATRIX MEDICAL GROUP, INC., a
Florida corporation (hereinafter called the "Company"), and KRISTEN BRATBERG
(hereinafter called the "Executive").

                    P r e l i m i n a r y  S t a t e m e n t s

         A. The Company is presently engaged in the business of providing
neonatal and pediatric physician management services to hospitals (the
"Business").

         B. The Executive has had many years of business experience in the
health care industry and the management and operations of a health care company.

         C. The Company is desirous of employing the Executive and benefiting
from his contributions to the Company.

                                A g r e e m e n t

         NOW, THEREFORE, in consideration of the premises and mutual covenants
set forth herein, the parties agree as follows:

         1.       Employment.

                  1.1. Employment and Term. The Company hereby agrees to employ
the Executive and the Executive hereby agrees to serve the Company, on the terms
and conditions set forth herein, for an "Initial Term" commencing on May 8, 2000
and expiring on December 31, 2001 (the "Expiration Date") unless sooner
terminated as hereinafter set forth. The Initial Term of this Agreement, and the
employment of the Executive hereunder, shall be automatically renewed for one
(1) year periods thereafter until terminated in accordance hereunder. (The
Initial Term and any automatic renewals shall be hereinafter referred to as the
"Employment Period").

                  1.2. Duties of the Executive. During the Employment Period,
the Executive shall serve as President of the Company. The Executive shall
report to, and shall be subject to the supervision and direction of, the Chief
Executive Officer. During the Employment Period, and excluding any periods of
vacation and sick leave to which the Executive is entitled, the Executive agrees
to devote substantially all of his attention and business time during normal
business hours to the business and affairs of the Company and, to the extent
necessary to discharge the responsibilities assigned to the Executive hereunder
as a senior executive officer involved with the general management of the
Company, to use the Executive's reasonable best efforts to perform faithfully
and efficiently such responsibilities. During the Employment Period it shall not
be a violation of this Agreement for the Executive to (i) serve on corporate,
civic or charitable boards or committees; (ii) deliver lectures, fulfill
speaking engagements or teach at

                                      -1-

<PAGE>

educational institutions; or (iii) manage personal investments and engage in
other business activities, so long as such activities do not significantly
interfere with the performance of the Executive's responsibilities as an
employee of the Company in accordance with this Agreement. It is expressly
understood and agreed that to the extent that any such activities have been
conducted by the Executive prior to the date hereof, the continued conduct of
such activities (or the conduct of activities similar in nature and scope
thereto) subsequent to the date hereof shall not thereafter be deemed to
interfere with the performance of the Executive's responsibilities to the
Company.

                  1.3. Place of Performance. The Executive shall be based at the
Company's principal executive offices located in Broward County, Florida, except
for required travel relating to the Company's Business.

         2.       Base Compensation and Bonus.

                  2.1. Base Salary. Commencing on the date hereof, the Executive
shall receive a base salary at the annual rate of not less than Three Hundred
Thousand Dollars ($300,000.00) (the "Base Salary") during the term of this
Agreement, with such Base Salary payable in installments consistent with the
Company's normal payroll schedule, subject to required applicable withholding
for taxes. The Base Salary shall be reviewed, at least annually, for merit
increases and may, by action and in the discretion of the Company, be increased
at any time or from time to time.

                  2.2. Performance Bonus. The Executive shall be entitled to a
performance bonus for each of the Company's fiscal years during the Employment
Period (the "Performance Bonus") of at least Two Hundred Thousand Dollars
($200,000.00) per year. The Compensation Committee of the Company's Board of
Directors ("Board") shall have the exclusive right to increase or decrease
(subject to the $200,000.00 minimum) the Executive's Performance Bonus to
reflect the Executive's and the Company's performance for the year.

         3.       Other Benefits.

                  3.1. Expense Reimbursement. The Company shall promptly
reimburse the Executive for all reasonable expenses actually paid or incurred by
the Executive in the course of and pursuant to the Business of the Company,
including expenses for travel and entertainment. The Executive shall account and
submit reasonably supporting documentation to the Company in connection with any
expense reimbursement hereunder in accordance with the Company's policies.

                  3.2. Other Benefits. During the Employment Period, the Company
shall continue in force all existing comprehensive major medical and
hospitalization insurance coverages, either group or individual for the
Executive and his dependents; shall continue in force all existing life
insurance for the Executive; and shall continue in force all existing disability
insurance for the Executive (collectively, the "Policies"), which Policies the
Company shall keep in effect at its sole expense throughout the term of this
Agreement. The Executive

                                      -2-

<PAGE>

and/or the Executive's family, as the case may be, shall be eligible for
participation in and shall receive all benefits under all welfare benefit plans,
practices, policies and programs provided by the Company (including, without
limitation, medical, prescription, dental, disability, salary continuance,
employee life, group life, accidental death and travel accident insurance plans
and programs) to the extent applicable generally to senior executive officers or
other peer executives of the Company. The Executive shall also be entitled to
participate in all incentive, savings and retirement plans, practices, policies
and programs and such other perquisites as applicable generally to senior
executive officers or other peer executives of the Company. Nothing paid to the
Executive under any plan or arrangement presently in effect or made available in
the future shall be deemed to be in lieu of the Base Salary payable to the
Executive pursuant to this agreement.

                  3.3. Working Facilities. The Company shall furnish the
Executive with such facilities and services suitable to his position and
adequate for the performance of his duties hereunder.

                  3.4. Vacation. The Executive shall be entitled to such number
of paid vacation and leave days in each calendar year as determined by the Board
from time to time for its senior executive officers, but in no event less than
four (4) weeks of paid vacation during each calendar year. Unused vacation days
may be carried forward from year to year at the option of the Executive;
provided that the Executive notifies the Company of his intention to accrue any
unused vacation or leave time.

                  3.5. Stock Options. The Executive shall be entitled to
participate in the Company's Stock Option Plan or any other similar plan adopted
by the Company that provides for the issuance of stock options to its employees.

         4.       Termination.

                  4.1.     Termination for Cause.

                           (a) The Company may terminate this Agreement for
Cause. As used in this Agreement, the term "Cause" shall mean:

                               (i) A material willful breach committed in bad
faith by the Executive of the Executive's obligations under Section 1.2 hereof
(other than as a result of incapacity due to physical or mental illness) which
is not remedied in a reasonable period of time after receipt of written notice
from the Company specifying such breach; or

                               (ii) The conviction of the Executive of a felony
based upon a violent crime or a sexual crime involving baseness, vileness or
depravity; or

                               (iii) Substance abuse by the Executive in a
manner which materially affects the performance of the Executive's obligations
under Section 1.2 hereof; or

                                      -3-

<PAGE>

                               (iv) Any act or omission of the Executive which
is materially contrary to the business interests, representations or goodwill of
the Company.

                           (b) The Termination Date for a termination of this
Agreement pursuant to this Section 4.1 shall be the date specified by the
Company in a written notice to the Executive of finding of Cause.

                           (c) Upon any termination of this Agreement pursuant
to this Section 4.1, the Executive shall be entitled to the compensation
specified in Section 5.1 hereof.

                  4.2. Disability. The Company may terminate this Agreement upon
the Disability (as defined below) of the Executive in strict accordance with the
following procedure: Upon a good faith determination by not less than a majority
of the Board of the entire membership of the Board (excluding the Executive)
that the Executive has suffered a Disability, the Company shall give the
Executive written notice of its intention to terminate this Agreement due to
such Disability. In such event, the Executive's employment with the Company
shall terminate effective on the 30th day after receipt of such notice by the
Executive (the "Disability Effective Date"), provided that, within the 30 days
after such receipt, the Executive shall not have returned to full-time
performance of the Executive's duties. For purposes of this Agreement,
"Disability" shall mean the absence of the Executive from the Executive's duties
with the Company on a full-time basis for six consecutive months or twelve
months whether or not consecutive as a result of incapacity due to mental or
physical illness which is determined to be total and permanent by a physician
selected by the Company or its insurers and acceptable to the Executive or the
Executive's legal representative (such agreement as to acceptability not to be
withheld unreasonably). The Termination Date for a termination of this Agreement
pursuant to this Section 4.2 shall be the date specified by the Board in the
resolution finding that the Executive has suffered a Disability, which date may
not be any earlier than 30 days after the date of Board's finding. Upon any
termination of this Agreement pursuant to this Section 4.2, the Executive shall
be entitled to the compensation specified in Section 5.2 hereof.

                  4.3. Death. This Agreement shall terminate automatically upon
the death of the Executive, without any requirement of notice by the Company to
the Executive's estate. The date of the Executive's death shall be the
Termination Date for a termination of this Agreement pursuant to this Section
4.3. Upon any termination of this Agreement pursuant to this Section 4.3, the
Executive shall be entitled to the compensation specified in Section 5.3 hereof.

                  4.4 Termination by the Company Without Cause. The Company may
terminate the Executive's employment, without cause, as provided in this Section
4.4. To terminate the Executive's employment without cause in accordance with
this Section 4.4, the Company shall give the Executive written notice of such
termination. The Termination Date shall be the date specified by the Company in
such notice. Upon any termination of this Agreement pursuant to this Section
4.4, the Executive shall be entitled to the compensation specified in Section
5.4 hereof.

                                      -4-

<PAGE>

                  4.5. Termination Upon a Change in Control of the Company. In
the event a Change in Control (as hereafter defined) in the Company shall occur
during the Employment Period, and the Executive elects to terminate his
employment with Company because Executive is (i) assigned any position, duties
or responsibilities that are significantly diminished or changed when compared
with the position, duties, responsibilities or compensation of the Executive
prior to such Change in Control, or (ii) forced to relocate to another location
more than 25 miles from the Executive's location prior to the Change in Control,
or (iii) Executive is terminated by Company, then the Executive shall be
entitled to the compensation specified in Section 5.5 hereof and any other
compensation and benefits provided in this Agreement in connection with a Change
in Control of the Company. For purposes of this Section 4.5, "Change in Control
of the Company" shall mean (i) the acquisition by a person or an entity or a
group of persons and entities, directly or indirectly, of more than fifty (50%)
percent of the Company's common stock in a single transaction or a series of
transactions (hereinafter referred to as a "50% Change in Control"); (ii) a
merger or other form of corporate reorganization resulting in an actual or de
facto 50% Change in Control; or (iii) the failure of Applicable Directors
(defined below) to constitute a majority of the Board during any two (2)
consecutive year period after the date of this Agreement (the "Two-Year
Period"). "Applicable Directors" shall mean those individuals who are members of
the Board at the inception of a Two-Year Period and any new director whose
election to the Board or nomination for election to the Board was approved
(prior to any vote thereon by the shareholders) by a vote of at least two-thirds
(2/3) of the directors then still in office who either were directors at the
beginning of the Two-Year Period at issue or whose election or nomination for
election during such Two-Year Period was previously approved as provided in this
sentence. If the Executive elects to terminate his employment pursuant to the
terms of this Section 4.5, the Executive shall give the Company a written
termination notice. The Termination Date shall be the date specified in such
notice, which date may not be earlier than 30 days nor later than 90 days from
the Company's receipt of such notice.

                  4.6. Termination by the Executive Due to Poor Health. The
Executive may terminate his employment under this Agreement upon written notice
to the Company if the Executive's health should become impaired to any extent
that makes the continued performance of the Executive's duties under this
Agreement hazardous to the Executive's physical or mental health or his life
(regardless of whether such condition would be deemed a Disability under any
other section of this Agreement), provided that the Executive shall have
furnished the Company with a written statement from a qualified doctor to that
effect and provided further that, at the Company's written request and expense,
the Executive shall submit to a medical examination by a qualified doctor
selected by the Company and acceptable to the Executive (which acceptance shall
not be unreasonably withheld) which doctor shall substantially concur with the
conclusions of the Executive's doctor. The Termination Date shall be the date
specified in the Executive's notice to the Company, which date may not be
earlier than 30 days nor later than 90 days from the Company's receipt of such
notice. Upon any termination of this Agreement pursuant to this Section 4.6, the
Executive shall be entitled to the compensation specified in Section 5.6 hereof.

                  4.7. Termination by the Executive. The Executive may terminate
his employment under this Agreement for any reason whatsoever upon not less than
90 days prior written notice to the Company. The Termination Date under this
Section 4.7 shall be the date

                                      -5-

<PAGE>

specified in the Executive's notice to the Company, which date may not be
earlier than 90 days from the Company's receipt of such notice. Upon any
termination of this Agreement pursuant to this Section 4.7, the Executive shall
be entitled to the compensation specified in Section 5.7 hereof.

         5.       Compensation and Benefits Upon Termination.

                  5.1. Cause. If the Executive's employment is terminated for
Cause, the Company shall pay the Executive his full Base Salary through the
Termination Date specified in Section 4.1 at the rate in effect at the
Termination Date, and the Company shall have no further obligation to the
Executive under this Agreement.

                  5.2. Disability. During any period that the Executive is
unable to perform his duties under this Agreement as a result of incapacity due
to physical or mental illness, the Executive shall continue to receive his full
Base Salary until the Termination Date specified in Section 4.2, plus the
prorated amounts specified in Section 5.10. After such termination, the
Executive shall receive 50% of his annual Base Salary at the rate in effect at
the Termination Date, payable in six equal monthly installments, reduced by any
disability payments otherwise payable by or pursuant to plans provided by the
Company.

                  5.3. Death. Upon the Executive's death, the Company shall pay
to the person designated by the Executive in a notice filed with the Company or,
if no person is designated, to his estate (i) any unpaid amounts of his Base
Salary and accrued vacation to the date of the Executive's death, plus the
prorated amounts specified in Section 5.10; and (ii) any payments the
Executive's spouse, beneficiaries or estate may be entitled to receive pursuant
to any pension or employee benefit plan or life insurance policy or similar plan
or policy then maintained by the Company. Upon full payment of all amounts
required to be paid under this Section 5.3, the Company shall have no further
obligation under this Agreement.

                  5.4 Termination by the Company Without Cause. If the Company
terminates the Executive's employment without cause in accordance with and
subject to Section 4.4, then (i) the Company shall pay the Executive his full
Base Salary through the Termination Date specified in Section 4.4 at the rate in
effect at such Termination Date, plus the prorated amounts specified in Section
5.10; and (ii) in lieu of further salary payments to the Executive for periods
subsequent to the Termination Date and in consideration of the rights of the
Company under Section 8, the Company shall pay Executive an amount equal to 50%
of his annual Base Salary at the highest rate in effect during the 12 months
immediately preceding the Termination Date, payable to the Executive in six
equal monthly installments. Upon payment of the amounts specified under this
Section 5.4, the Company shall have no further obligation under this Agreement.

                  5.5 Termination by the Executive Upon a Change in Control. If
this Agreement is terminated as contemplated by Section 4.5, then (i) the
Company shall pay the Executive his full Base Salary through the Termination
Date specified in Section 4.5, at the rate

                                      -6-

<PAGE>

in effect at such Termination Date, plus the amounts specified in Section 5.10;
(ii) the Executive shall receive all other compensation and benefits provided in
this Agreement in connection with a termination of employment due to a Change in
Control of the Company; and (iii) in lieu of any further salary payments to the
Executive for periods subsequent to such Termination Date (but without affecting
compensation or benefits to the Executive in accordance with the preceding
clauses 5.5 (i) and 5.5 (ii) and in consideration of the rights of the Company
under Section 8), the Company shall pay as severance pay to the Executive an
amount equal to 100% of the average annual taxable compensation of the Executive
for the five taxable years prior to such termination (all as determined to
compute the "base amount" for purposes of Section 280G of the Internal Revenue
Code of 1986, as amended (the" Code")), reduced, but not below zero, by the
amount of compensation or benefits from the Company to the Executive which would
cause the severance pay payable pursuant to this Section 5.5 to exceed the
excess parachute payment limitation imposed under Section 280G of the Code,
payable to the Executive in 12 equal monthly installments, commencing upon such
termination. It is understood and agreed that (i) any partial year during which
the Executive has been employed by the Company shall be deemed to be a full
year, with the taxable compensation for such year deemed to be the taxable
compensation received by the Executive in such partial year increased so as to
annualize such amount for the full year and (ii) if the Executive has not been
employed by the Company for the four consecutive years immediately prior to the
year in which such termination occurs, then the five taxable years referenced in
the immediately preceding sentence shall be deemed to be the lesser period that
the Executive has been employed by the Company. In addition, in the event the
Termination Date as a result of a Change in Control occurs within the
twelve-month period of a Change in Control, any stock options held by the
Executive on the Termination Date shall become vested in full and immediately
exercisable.

                  5.6. Termination by the Executive Due to Poor Health. If the
Executive terminates this Agreement pursuant to Section 4.6 hereof, the Company
shall pay to the Executive any unpaid amounts of his Base Salary and accrued
vacation to the Termination Date specified in Section 4.6, plus any disability
payments otherwise payable by or pursuant to plans provided by the Company, plus
the prorated amounts specified in Section 5.10.

                  5.7. Termination by the Executive. If this Agreement
terminates pursuant to Section 4.7 hereof, the Company shall pay to the
Executive any unpaid amounts of his Base Salary and accrued vacation to the
Termination Date specified in Section 4.7, as the case may be, plus the prorated
amounts specified in Section 5.10.

                  5.8. Health and Medical Plans. The Executive shall be entitled
to all continuation of health, medical, hospitalization and other programs
during the period that the Executive is receiving payments under this Agreement
and, in all cases, as provided by any applicable law. The Executive shall also
be entitled to receive those benefits as are provided by the Company to its
employees upon termination of employment with the Company.

                  5.9. Mitigation. Except with respect to a termination in
accordance with Section 4.5, the Executive shall be required to mitigate the
amount of any payment provided for

                                      -7-

<PAGE>

in this Section 5 by seeking other employment or otherwise, any payment provided
for in this Section 5 shall be reduced by any compensation earned by the
Executive as the result of employment by another employer after the Termination
Date.

                  5.10. Incentive Bonus, Performance Bonus and Expense
Reimbursement. If the Executive's employment with the Company is terminated for
any reason, other than Cause (defined in Section 4.1(a) above), the Executive
shall be paid, solely in consideration for services rendered by the Executive
prior to such termination, a Bonus with respect to the Company's fiscal year in
which the Termination Date occurs, equal to the Performance Bonus that would
have been payable to the Executive for the fiscal year if the Executive's
employment had not been terminated, multiplied by the number of days in the
fiscal year prior to and including the date of termination and divided by 365.
The Executive shall be entitled to reimbursement for reasonable business
expenses incurred prior to the Termination Date, subject, however to the
provisions of Section 3.1.

         6.       Successors; Binding Agreement.

                  6.1. Successors. The Company shall require any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise)
acquiring a majority of the Company's voting common stock or any other successor
to all or substantially all of the business and/or assets of the Company to
expressly assume and agree to perform this Agreement in the same manner and to
the same extent that the Company would be required to perform it if no such
succession had taken place. As used in this Agreement, "Company" shall mean the
Company as previously defined and any successor to its business and/or assets
which executes and delivers the agreement provided for in this Section 6 or
which otherwise becomes bound by all the terms and provisions of this Agreement
by operation of law.

                  6.2. Benefit. This Agreement and all rights of the Executive
under this Agreement shall inure to the benefit of and be enforceable by the
Executive's personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees. If the Executive should
die while any amounts would still be payable to him under this Agreement,
including all payments payable under Section 5, if he had continued to live, all
such amounts shall be paid in accordance with the terms of this Agreement to the
Executive's devisee, legatee, or other designee or, if there is no such
designee, the Executive's estate.

         7. Conflicts With Prior Employment Contract. Except as otherwise
provided in this Agreement, this Agreement constitutes the entire agreement
among the parties pertaining to the subject matter hereof, and supersedes and
revokes any and all prior or existing agreements, written or oral, relating to
the subject matter hereof, and this Agreement shall be solely determinative of
the subject matter hereof.

         8.       Noncompetition; Unauthorized Disclosure; Injunctive Relief.

                  8.1. No Material Competition. Except with respect to services
performed under this Agreement on behalf of the Company, and subject to the
obligations of the Executive

                                      -8-

<PAGE>

as an officer of the Company and the employment obligations of the Executive
under this Agreement, the Executive agrees that at no time during the Employment
Period or, for a period of one year immediately following any termination of
this Agreement for any reason, for himself or on behalf of any other person,
persons, firm, partnership, corporation or company:

                       (a) Solicit or accept business from any clients of the
Company or its affiliates, from any prospective clients whose business the
Company or any affiliate of the Company is in the process of soliciting at the
time of the Executive's termination, or from any former clients which had been
doing business with the Company within one year prior to the Executive's
termination;

                       (b) Solicit any employee of the Company or its affiliates
to terminate such employee's employment with the Company; or

                       (c) Engage in any neonatology or perinatology-related
business of the types performed by the Company in the geographical area where
the Company is actively doing business or soliciting business, including, but
not limited to, employment or association with Sheridan Healthcare, Inc., its
subsidiaries, affiliates or successors-in-interest, and Magella Healthcare
Corporation, its subsidiaries, affiliates or successors-in-interest.

                  8.2. Unauthorized Disclosure. During the Employment Period and
for two years following the termination of this Agreement for any reason, the
Executive shall not, without the written consent of the Board or a person
authorized by the Board or as may otherwise be required by law or court order,
disclose to any person, other than an employee of the Company or person to whom
disclosure is reasonably necessary or appropriate in connection with the
performance by the Executive of his duties as an executive of the Company, any
material confidential information obtained by him while in the employ of the
Company with respect to any of the company's clients, physicians, creditors,
lenders, investment bankers or methods of marketing, provided, however, that
confidential information shall not include any information generally known to
the public (other than as a result of unauthorized disclosure by the Executive)
or any information of a type not otherwise considered confidential by persons
engaged in the same business or a business similar to that conducted by the
Company.

                  8.3. Injunction. The Company and the Executive acknowledge
that a breach by the Executive of any of the covenants contained in this Section
8 may cause irreparable harm or damage to the Company or its subsidiaries, the
monetary amount of which may be virtually impossible to ascertain. As a result,
the Executive agrees that the Company shall be entitled to an injunction issued
by any court of competent jurisdiction enjoining and restraining all violations
of this Section 8 by the Executive or his associates, affiliates, partners or
agents, and that the right to an injunction shall be cumulative and in addition
to all other remedies the Company may possess.

                  8.4. Certain Provisions. The provisions of this Section 8
shall apply during the time the Executive is receiving Disability payments from
the Company as a result of a termination of this Agreement pursuant to Section
4.2 hereof.

                                      -9-

<PAGE>

         9. Arbitration. Any dispute or controversy (except for disputes arising
under Section 8) arising under or in connection with this Agreement shall be
settled exclusively by arbitration in accordance with the rules of the American
Arbitration Association then in effect (except to the extent that the procedures
outlined below differ from such rules). Within 7 days after receipt of written
notice from either party that a dispute exists and that arbitration is required,
both parties must within 7 business days agree on an acceptable arbitrator. If
the parties cannot agree on an arbitrator, then the parties shall list the "Big
Five" accounting firms (other than the Company's auditors) in alphabetical order
and the first firm that does not have a conflict of interest and is willing to
serve will be selected as the arbitrator. The parties agree to act as
expeditiously as possible to select an arbitrator and conclude the dispute. The
arbitrator must render his decision in writing within 30 days of his or its
appointment. The cost and expenses of the arbitration and of legal counsel to
the prevailing party shall be borne by the non-prevailing party. Each party will
advance one-half of the estimated fees and expenses of the arbitrator. Judgment
may be entered on the arbitrator's award in any court having jurisdiction;
provided that the Company shall be entitled to seek a restraining order or
injunction in any court of competent jurisdiction to prevent any continuation of
any violation of Section 8 hereof.

         10. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Florida without regard to its conflict
of laws principles to the extent that such principles would require the
application of laws other than the laws of the State of Florida.

         11. Notices. Any notice required or permitted to be given under this
Agreement shall be in writing and shall be deemed to have been given when
delivered by hand or when deposited in the United States mail by registered or
certified mail, return receipt requested, postage prepaid, addressed as follows:

         If to the Company:                       If to the Executive:
              Roger J. Medel, M.D., M.B.A.            Kristen Bratberg
              Pediatrix Medical Group, Inc.           2980 Windmill Ranch Road
              1301 Concord Terrace                    Weston, FL 33331
              Sunrise, Florida 33323

or to such other addresses as either party hereto may from time to time give
notice of to the other in the aforesaid manner.

         12. Benefits: Binding Effect. This Agreement shall be for the benefit
of and binding upon the parties hereto and their respective heirs, personal
representatives, legal representatives, successors and, where applicable,
assigns. Notwithstanding the foregoing, neither party may assign its rights or
benefits hereunder without the prior written consent of the other party hereto.

         13. Severability. The invalidity of any one or more of the words,
phrases, sentences, clauses or sections contained in this Agreement shall not
affect the enforceability of the remaining portions of this Agreement or any
part thereof, all of which are inserted conditionally on their being valid in
law, and, in the event that any one or more of the words, phrases,

                                      -10-

<PAGE>

sentences, clauses or sections contained in this Agreement shall be declared
invalid, this Agreement shall be construed as if such invalid word or words,
phrase or phrases, sentence or sentences, clause or clauses, or section or
sections had not been inserted. If such invalidity is caused by length of time
or size of area, or both, the otherwise invalid provision will be considered to
be reduced to a period or area which would cure such invalidity.

         14. Waivers. The waiver by either party hereto of a breach or violation
of any term or provision of this Agreement shall not operate nor be construed as
a waiver of any subsequent breach or violation.

         15. Damages. Nothing contained herein shall be construed to prevent the
Company or the Executive from seeking and recovering from the other damages
sustained by either or both of them as a result of its or his breach of any term
or provision of this Agreement. In the event that either party hereto brings
suit for the collection of any damages resulting from, or the injunction of any
action constituting, a breach of any of the terms or provisions of this
Agreement, then the party found to be at fault shall pay all reasonable court
costs and attorneys' fees of the other, whether such costs and fees are incurred
in a court of original jurisdiction or one or more courts of appellate
jurisdiction.

         16. No Third Party Beneficiary. Nothing expressed or implied in this
Agreement is intended, or shall be construed, to confer upon or give any person
(other than the parties hereto and, in the case of the Executive, his heirs,
personal representative(s) and/or legal representative) any rights or remedies
under or by reason of this Agreement. No agreements or representations, oral or
otherwise, express or implied, have been made by either party with respect to
the subject matter of this agreement which agreements or representations are not
set forth expressly in this Agreement, and this Agreement supersedes any other
employment agreement between the Company and the Executive.

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

PEDIATRIX MEDICAL GROUP, INC.                   THE EXECUTIVE:

/s/ Roger J. Medel, M.D., M.B.A.                /s/ Kristen Bratberg
-----------------------------------             --------------------------------
Roger J. Medel, M.D., M.B.A.                        Kristen Bratberg
Chairman of the Board and
Chief Executive Officer

                                      -11-

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