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                                                                    EXHIBIT 10.3

                           SECOND AMENDED AND RESTATED
                 ARDENT HEALTH SERVICES LLC AND ITS SUBSIDIARIES
                    OPTION AND RESTRICTED UNIT PURCHASE PLAN

         Section 1. Purpose. The purpose of the Ardent Health Services LLC and
its Subsidiaries Option and Restricted Unit Purchase Plan (the "Plan") is to
promote the interests of Ardent Health Services LLC, a Delaware limited
liability company (the "Company"), and any Subsidiary thereof and the interests
of the Company's members by providing an opportunity to selected employees,
officers, members of the Board of Directors and consultants of Subsidiaries of
the Company as of the date of the adoption of the Plan or at any time thereafter
to purchase Units of the Company. By encouraging such ownership, the Company
seeks to attract, retain and motivate such employees and other persons and to
encourage such employees and other persons to devote their best efforts to the
business and financial success of the Company. It is intended that this purpose
will be effected by the granting of "non-qualified options" to acquire Common
Units of the Company and/or by the granting of rights to purchase Units of the
Company on a restricted or unrestricted unit basis. Under the Plan, the
Committee shall have the authority (in its sole discretion) to grant equity
options, the taxation of which is intended to be subject to the principles of
Treasury Regulation Section 1.83-7 or any successor regulation thereto, or
restricted or unrestricted unit awards. This Plan and the Units issuable
hereunder are subject to the terms and conditions of the LLC Agreement, and in
the event of any conflict between the provisions of the LLC Agreement and this
Plan, the LLC Agreement shall govern. This Plan is intended to comply with
Section 25102(o) of the California Corporations Code. Any provision of this Plan
which is inconsistent with Section 25102(o) shall, without further act or
amendment by the Board, be reformed to comply with the requirements of Section
25102(o).

         Section 2. Definitions. For purposes of the Plan, the following terms
used herein shall have the following meanings, unless a different meaning is
clearly required by the context:

         2.1. "Award" shall mean an award of the right to purchase Units granted
under the provisions of Section 7 of the Plan.

         2.2. "Board" shall mean the Company's Board of Managers.

         2.3. "Code" shall mean the Internal Revenue Code of 1986, as amended.

         2.4. "Committee" shall mean the committee of the Board referred to in
Section 5 hereof; provided, that if no such committee is appointed by the Board,
the Board shall have all of the authority and obligations of the Committee under
the Plan.

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         2.5. "Common Unit" shall mean the Common Units of the Company as
defined in the LLC Agreement.

         2.6. "Employee" shall mean any person employed by, or performing
services for, the Company or any Parent or Subsidiary of the Company, including,
without limitation, officers and Managers.

         2.7. "LLC Agreement" shall mean the Ardent Health Services LLC Limited
Liability Company Agreement dated August 3, 2001, as the same may be modified,
restated or amended from time to time.

         2.8. "Managers" shall have the meaning set forth in the LLC Agreement.

         2.9. "Non-Qualified Option" shall mean an Option granted to a
Participant pursuant to the Plan that is intended to be, and qualifies as, an
equity option, the taxation of which is intended to be subject to the principles
of Treasury Regulation Section 1.83-7 or any successor regulation thereto and
that shall not constitute or be treated as an "incentive stock option" as
defined in Section 422(b) of the Code.

         2.10. "Option" shall mean any Non-Qualified Option granted to an
Employee pursuant to the Plan.

         2.11. "Participant" shall mean any Employee to whom an Award and/or an
Option is granted under the Plan.

         2.12. "Parent" of the Company shall have the meaning set forth in
Section 424(e) of the Code.

         2.13. "Preferred Unit" shall mean the 8% Cumulative Redeemable
Preferred Units of the Company as defined in the LLC Agreement.

         2.14. "Specified Participant" shall mean (i) any officer, director or
manager of the Company or any of its affiliates or consultants to the Company or
its affiliates, and (ii) any Participant who is a resident of any state other
than California.

         2.15. "Subsidiary" of the Company shall have the meaning set forth in
Section 424(f) of the Code.

         2.16. "Units" shall mean Common Units and/or Preferred Units.

         Section 3. Eligibility. Awards and/or Options may be granted to any
Employee. The Committee shall have the sole authority to select the persons to
whom Awards and/or Options are to be granted hereunder, and to determine whether
a person is to be granted a Non-Qualified Option or an Award or any combination
thereof. No person shall have any right to participate in the Plan. Any person
selected by the Committee for participation during any one period will not by
virtue of such participation have the right to be selected as a Participant for
any other period.

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         Section 4. Units Subject to the Plan.

         4.1. Number of Common Units. Subject to adjustment as provided in
Section 9 hereof, the total number of Common Units for which Options and/or
Awards may be granted under the Plan shall equal the sum of (i) 3,915,579 plus
(ii) 135,645, plus (iii) 250,000 for the grant of Awards of Common Units under
the Plan, plus (iv) an amount equal to twelve percent (12%) of any Common Units
issued by the Company after January 30, 2002, (other than issuances attributable
to the exercise of Options and grants of Awards under the Plan) and before the
closing of an underwritten initial public offering of the Company's Common Units
registered under the Securities Act of 1933, as amended, for cash with net
proceeds to the Company of at least $75,000,000, ("New Common Units") but
calculated without regard to Common Units issued pursuant to the Subscription
Agreement, dated as of September 25, 2001, among the Company, Welsh, Carson,
Anderson & Stowe IX, L.P. ("WCAS IX") and the several purchasers listed on Annex
I thereto, FFT Partners II, L.P., and BancAmerica Capital Investors SBIC I, L.P.
The determination of the number of Common Units available for grant due to the
issuance of New Common Units shall be calculated on a fully diluted basis as
follows:

                                   X
                                  --- -- X = A
                                  .88

                 X = New Common Units, other than attributable to the
                     exercise of Options and grants of Awards under the Plan

                 A = Additional number of Common Units for which Options
                     and/or Awards may be granted under the Plan

Notwithstanding the foregoing, at any such time as the offer and sale of
securities pursuant to the Plan are subject to compliance with Section
260.140.45 of Title 10 of the California Code of Regulations ("Section
260.140.45"), the total number of Common Units issuable upon the exercise of all
outstanding Options (together with options outstanding under any other option
plan of the Company) or issued pursuant to an Award and the total number of
Common Units provided for under any bonus or similar plan of the Company shall
not exceed thirty percent (30%) (or such other higher percentage limitation as
may be approved by the members of the Company as described in Section
260.140.45) of the then outstanding Common Units of the Company as calculated in
accordance with the conditions and exclusions of Section 260.140.45.

         4.2. Number of Preferred Units. The total number of Preferred Units for
which Awards may be granted under the Plan shall not exceed 48,182 Preferred
Units.

         4.3. Reissuance. The Units that may be subject to Options and/or Awards
granted under the Plan may be either authorized and unissued Units or Units
reacquired at any time and now or hereafter held in the Company's treasury as
the Committee may determine. In the event that any outstanding Option expires or
is terminated for any reason, the Common Units allocable to the unexercised
portion of such Option may again

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be subject to an Option and/or Award granted under the Plan. If any Units issued
or sold pursuant to an Award or the exercise of an Option shall have been
repurchased by the Company, then such Units may again be subject to an Option
and/or Award granted under the Plan.

         Section 5. Administration of the Plan.

         5.1. Administration. Subject to the proviso in Section 2.4 hereof, the
Plan shall be administered by a committee of the Board (the "Committee")
established by the Board and consisting of no less than two persons. Each member
of the Committee shall be a "Non-Employee Director" within the meaning of Rule
16b-3 promulgated under the Securities Exchange Act of 1934, as amended, and an
"outside director" within the meaning of Treasury Regulation Section
1.162-27(e)(3). The Committee shall be appointed from time to time by, and shall
serve at the pleasure of, the Board.

         5.2. Grant of Options/Awards.

         (a) Options. Subject to Section 6 below, the Committee shall have the
sole authority and discretion under the Plan (i) to select the Employees who are
to be granted Options hereunder; (ii) to establish the number of Common Units
that may be subject to each Option; (iii) to determine the time and the
conditions subject to which Options may be exercised in whole or in part; (iv)
to determine the amount and the form of the consideration that may be used to
purchase Common Units upon exercise of any Option (including, without
limitation, the circumstances, if any, under which issued and outstanding Common
Units owned by a Participant may be used by the Participant to exercise an
Option); (v) to impose restrictions and/or conditions with respect to Common
Units acquired upon exercise of an Option; (vi) to determine the circumstances
under which Common Units acquired upon exercise of any Option may be subject to
repurchase by the Company; (vii) to determine the circumstances and conditions
subject to which Common Units acquired upon exercise of an Option may be sold or
otherwise transferred, including, without limitation, the circumstances and
conditions subject to which a proposed sale of Common Units acquired upon
exercise of an Option may be subject to the Company's right of first refusal (as
well as the terms and conditions of any such right of first refusal); (viii) to
establish a vesting provision for any Option relating to the time when (or the
circumstances under which) the Option may be exercised by a Participant,
including, without limitation, vesting provisions that may be contingent upon
(A) the Company's meeting specified financial goals, (B) a change of control of
the Company or (C) the occurrence of other specified events; (ix) to accelerate
the time when outstanding Options may be exercised and (x) to establish any
other terms, restrictions and/or conditions applicable to any Option not
inconsistent with the provisions of the Plan.

         (b) Awards. Subject to Section 7 below, the Committee shall have the
sole authority and discretion under the Plan (i) to select the Employees who are
to be granted Awards hereunder; (ii) to determine the amount to be paid by a
Participant to acquire Units pursuant to an Award, which amount may be equal to,
more than, or less than 100% of the fair market value of such Units on the date
the Award is granted; (iii) to

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determine the time or times and the conditions subject to which Awards may be
made; (iv) to determine the time or times and the conditions subject to which
the Units subject to an Award are to become vested and no longer subject to
repurchase by the Company; (v) to establish transfer restrictions and the terms
and conditions on which any such transfer restrictions with respect to Units
acquired pursuant to an Award shall lapse; (vi) to establish vesting provisions
with respect to any Units subject to an Award, including, without limitation,
vesting provisions which may be contingent upon (A) the Company's meeting
specified financial goals, (B) a change of control of the Company or (C) the
occurrence of other specified events; (vii) to determine the circumstances under
which Units acquired pursuant to an Award may be subject to repurchase by the
Company; (viii) to determine the circumstances and conditions subject to which
any Units acquired pursuant to an Award may be sold or otherwise transferred,
including, without limitation, the circumstances and conditions subject to which
a proposed sale of Units acquired pursuant to an Award may be subject to the
Company's right of first refusal (as well as the terms and conditions of any
such right of first refusal); (ix) to determine the form of consideration that
may be used to purchase Units pursuant to an Award (including, without
limitation, the circumstances under which issued and outstanding Units owned by
a Participant may be used by the Participant to purchase Units subject to an
Award); (x) to accelerate the time at which any or all restrictions imposed with
respect to any Units subject to an Award will lapse and (xi) to establish any
other terms, restrictions and/or conditions applicable to any Award not
inconsistent with the provisions of the Plan.

         5.3. Interpretation. The Committee shall be authorized to interpret the
Plan and may, from time to time, adopt such rules and regulations, not
inconsistent with the provisions of the Plan, as it may deem advisable to carry
out the purposes of the Plan.

         5.4. Finality. The interpretation and construction by the Committee of
any provision of the Plan, any Option and/or Award granted hereunder or any
agreement evidencing any such Option and/or Award shall be final and conclusive
upon all parties.

         5.5. Expenses, Etc. All expenses and liabilities incurred by the
Committee in the administration of the Plan shall be borne by the Company. The
Committee may employ attorneys, consultants, accountants or other persons in
connection with the administration of the Plan. The Company, and its officers
and Managers, shall be entitled to rely upon the advice, opinions or valuations
of any such persons. No member of the Committee shall be liable for any action,
determination or interpretation taken or made in good faith with respect to the
Plan or any Option and/or Award granted hereunder.

         5.6. Information. At least annually, copies of the Company's balance
sheet and income statement for the just completed fiscal year shall be made
available to each holder of Options and purchaser of Units hereunder. The
Company shall not be required to provide such information to persons whose
duties in connection with the Company assure them access to equivalent
information.

         Section 6. Terms and Conditions of Options.

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         6.1. Non-Qualified Options. The terms and conditions of each
Non-Qualified Option granted under the Plan shall be specified by the Committee,
in its sole discretion, and shall be set forth in a written option agreement (a
"Non-Qualified Option Agreement") between the Company and the Participant in
such form as the Committee shall approve. The terms and conditions of each
Non-Qualified Option will be such (and each Non-Qualified Option Agreement shall
expressly so state) that each Non-Qualified Option issued hereunder shall not
constitute nor be treated as an "incentive stock option" as defined in Section
422(b) of the Code, but will be a "non-qualified option" for Federal, state and
local income tax purposes. The terms and conditions of any Non-Qualified Option
granted hereunder need not be identical to those of any other Non-Qualified
Option granted hereunder.

         The terms and conditions of each Non-Qualified Option Agreement shall
include the following:

         (a) The option exercise price for Non-Qualified Options shall be fixed
by the Committee, provided, however, that (i) the exercise price per Common Unit
shall be not less than eighty-five percent (85%) of the fair market value of a
Common Unit on the date such Non-Qualified Option is granted as determined in
good faith by the Committee and (ii) no Non-Qualified Option granted to a
Participant who on the date of grant owns securities possessing more than ten
percent (10%) of the total combined voting power of all classes of securities of
the Company or its parent or subsidiaries possessing voting power shall have an
exercise price per share less than one hundred ten percent (110%) of the fair
market value of a Common Unit on the effective date of such grant as determined
in good faith by the Committee.

         (b) The Committee shall fix the term of all Non-Qualified Options
granted pursuant to the Plan (including, without limitation, the date on which
such Non-Qualified Option shall expire and terminate). Such term may not be more
than ten years from the date on which such Non-Qualified Option is granted. Each
Non-Qualified Option shall be exercisable in such amount or amounts, under such
conditions (including, without limitation, provisions governing the rights to
exercise such Non-Qualified Option), and at such times or intervals or in such
installments as shall be determined by the Committee in its sole discretion,
provided, however, that Non-Qualified Options granted to Participants (other
than Specified Participants) shall become exercisable at the rate of at least
20% per year over five years from the date the Non-Qualified Option is granted
to such Participant for so long as such Participant remains an employee of the
Company or any Parent or Subsidiary thereof.

         (c) Non-Qualified Options shall not be transferable otherwise than by
will or the laws of descent and distribution, and during a Participant's
lifetime a Non-Qualified Option shall be exercisable only by the Participant.

         (d) The terms and conditions of each Non-Qualified Option shall include
the following provisions:

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                  (i) In the event a Participant's employment by any Subsidiary
         of the Company shall be terminated by such Subsidiary or shall be
         terminated by the Participant for any reason whatsoever other than as a
         result of the Participant's death or "disability" (within the meaning
         of Section 22(e)(3) of the Code), the unexercised portion of any
         Non-Qualified Option held by such Participant at that time may only be
         exercised within 90 days after the date on which the Participant ceased
         to be an Employee, and only to the extent that the Participant could
         have otherwise exercised such Non-Qualified Option as of the date on
         which he ceased to be an Employee.

                  (ii) In the event a Participant shall cease to be an Employee
         of any Subsidiary of the Company by reason of his "disability" (within
         the meaning of Section 22(e)(3) of the Code), the unexercised portion
         of any Non-Qualified Option held by such Participant at that time may
         only be exercised within one year after the date on which the
         Participant ceased to be an Employee, and only to the extent that the
         Participant could have otherwise exercised such Non-Qualified Option as
         of the date on which he ceased to be an Employee.

                  (iii) In the event a Participant shall die while an Employee
         of any Subsidiary of the Company (or within a period of one month after
         ceasing to be an Employee for any reason other than his "disability"
         (within the meaning of Section 22(e)(3) of the Code) or within a period
         of one year after ceasing to be an Employee by reason of such
         "disability"), the unexercised portion of any Non-Qualified Option held
         by such Participant at the time of his death may only be exercised
         within one year after the date of such Participant's death, and only to
         the extent that the Participant could have otherwise exercised such
         Non-Qualified Option at the time of his death. In such event, such
         Non-Qualified Option may be exercised by the executor or administrator
         of the Participant's estate or by any person or persons who shall have
         acquired the Non-Qualified Option directly from the Participant by
         bequest or inheritance.

         (e) To the extent that the Company or any Subsidiary thereof is
required to withhold any Federal, state or local taxes in respect of any
compensation income realized by any Participant in respect of a Non-Qualified
Option granted hereunder or in respect of any Common Units acquired upon
exercise of a Non-Qualified Option, the Company or such Subsidiary shall deduct
from any payments of any kind otherwise due to such Participant the aggregate
amount of such Federal, state and local taxes required to be so withheld (which
amount shall be the minimum amount required to be withheld under applicable law)
or, if such payments are insufficient to satisfy such Federal, state and local
taxes, or if no such payments are due or to become due to such Participant,
then, such Participant will be required to pay to the Company or such
Subsidiary, or make other arrangements satisfactory to the Company or such
Subsidiary regarding payment to the Company or such Subsidiary of, the aggregate
amount of any such taxes. All matters with respect to the total amount of taxes
to be withheld in respect of any such compensation income shall be determined by
the Committee, in its sole discretion.

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         Section 7. Terms and Conditions of Awards. The terms and conditions of
each Award granted under the Plan shall be specified by the Committee, in its
sole discretion, and shall be set forth in a writing delivered to the
Participant, in such form as the Committee shall approve. The terms and
provisions of any Award granted hereunder need not be identical to those of any
other Award granted hereunder.

         The terms and conditions of each Award shall include the following:

         (a) The amount to be paid by a Participant to acquire the Units
pursuant to an Award shall be fixed by the Committee, provided, however, that
(i) the purchase price per Common Unit shall be not less than eighty-five
percent (85%) of the fair market value of a Common Unit on the date such Award
is made as determined in good faith by the Committee and (ii) no Award made to a
Participant who on the date of such Award owns securities possessing more than
ten percent (10%) of the total combined voting power of all classes of
securities of the Company or its parent or subsidiaries possessing voting power
shall have a purchase price less than one hundred percent (100%) of the fair
market value of a Common Unit on the effective date of such Award as determined
in good faith by the Committee.

         (b) Each Award shall contain such vesting provisions, such transfer
restrictions and such other restrictions and conditions as the Committee, in its
sole discretion, may determine.

         (c) Certificates (if any) representing Units acquired pursuant to an
Award shall bear a legend referring to any restrictions imposed on such Units
and such other matters as the Committee may determine.

         (d) To the extent that the Company or such Subsidiary is required to
withhold any Federal, state or local taxes in respect of any compensation income
realized by the Participant in respect of an Award granted hereunder, in respect
of any Units acquired pursuant to an Award, or in respect of the vesting of any
such Units, then the Company or such Subsidiary shall deduct from any payments
of any kind otherwise due to such Participant the aggregate amount of such
Federal, state and local taxes required to be so withheld (which amount shall be
the minimum amount required to be withheld under applicable law), or if such
payments are insufficient to satisfy such Federal, state and local taxes, or if
no such payments are due or to become due to such Participant, then such
Participant will be required to pay to the Company or such Subsidiary, or make
other arrangements satisfactory to the Company or such Subsidiary regarding
payment to the Company or such Subsidiary of, the aggregate amount of any such
taxes. All matters with respect to the total amount of taxes to be withheld in
respect of any such compensation income shall be determined by the Committee, in
its sole discretion.

         (e) Any Award may provide (i) that the recipient of such Award must
make an election with respect to such Award under Section 83(b) of the Code and
(ii) that the failure to duly make such an election within 30 days of the
receipt of the Units underlying such Award shall result in the rescission of
such Award and of the purchase of such Unit.

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         Section 8. Company's Right and Option to Repurchase Units.

         The terms of each Option shall include the following:

         (a) In the event that a Participant ceases to be employed by any
Subsidiary of the Company for any reason (including, without limitation, as a
result of such Participant's death, disability, incapacity, retirement,
resignation or dismissal with or without cause), the Company shall have the
right and option, but not the obligation, to repurchase from such Participant
(or in the case of such Participant's death, such Participant's legal
representative) any or all of the Units purchased by such Participant (or in the
case of such Participant's death, such Participant's legal representative)
within the time periods specified in Sections 8(e) and 8(f) below.

         (b) If a Participant's employment is terminated for "cause" and the
Company exercises the right and option described in Section 8(a) above, the
Company shall pay to such Participant as the purchase price for such Units (the
"Purchase Price") (i) if such Participant is a Specified Participant, an amount
per unit equal to the lesser of the fair market value thereof as of the date
such Participant ceased to be so employed by any Subsidiary of the Company and
the original purchase price such Participant paid for the Units (the "Original
Price") and (ii) if such Participant is not a Specified Participant, an amount
per unit equal to the Original Price.

         For purposes of this Plan the term "cause" for termination shall mean:
(1) with respect to any Participant who has an employment agreement with the
Company or any Subsidiary thereof, "cause" as defined in such employment
agreement and (2) with respect to any Participant who does not have an
employment agreement with the Company or any Subsidiary thereof, (i) conviction
of having committed a felony, (ii) determination by the Board that such
Participant has committed acts of dishonesty or moral turpitude, (iii) failure
by such Participant to follow the reasonable directives of the Board or (iv)
gross negligence or willful misconduct by such Participant in the performance of
such Participant's duties of employment.

         (c) If a Participant's employment is terminated for any reason other
than "cause" and the Company exercises the right and option described in Section
8(a) above, the Company shall pay to such Participant as the Purchase Price, an
amount per Unit equal to the fair market value thereof as of the date of such
termination.

         (d) Fair market value of Units will be determined in good faith by the
Board on a basis consistent with the manner of determining the fair market value
of the Company's equity securities for purposes of offering of the Company's
equity securities to equity investors.

         (e) The Company may exercise the right and option described in Section
8(a) above with respect to Units held by a Specified Participant by giving such
Specified Participant (or in the case of such Specified Participant's death,
such Specified Participant's legal representative) a written notice of election
to purchase at any time within 60 days after the date (i) that such Specified
Participant's employment ceases, in

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the event such Participant (A) has owned the Units to be repurchased for at
least six months or (B) has been terminated for "cause", or (ii) that is the six
month anniversary after such Specified Participant acquired the Units to be
repurchased, in the event such Specified Participant has not owned the Units for
at least six months as of the date such Specified Participant ceased to be so
employed and such Specified Participant's employment was terminated for any
reason other than "cause." The notice of election shall specify the number of
Units to be purchased and the Purchase Price for such Units. In the event that a
Specified Participant (or in the case of such Specified Participant's death,
such Specified Participant's legal representative) exercises an Option and
acquires any additional Units on any date after the date such notice of election
is provided by the Company, then the Company may again exercise the right and
option described in Section 8(a) above by giving such Specified Participant (or
in the case of such Specified Participant's death, such Specified Participant's
legal representative) a written notice of election to purchase at any time
within 60 days after the date of such exercise, which notice of election shall
specify the number of Units to be purchased and the Purchase Price for such
Units.

         (f) The Company may exercise the right and option described in Section
8(a) above with respect to a Participant (other than a Specified Participant) by
giving such Participant (or in the case of such Participant's death, such
Participant's legal representative) a written notice of election to purchase at
any time within (x) 90 days after the date that such Participant's employment
terminates or, in the case of Units issued upon exercise of Options after the
date of termination, (y) 90 days after the date of such exercise. The notice of
election shall specify the number of Units to be purchased and the Purchase
Price for such Units. Notwithstanding anything in this Section 8 to the
contrary, the Company's right and option to purchase Units from Participants
(other than Specified Participants) as described in Section 8(b)(ii) above (i)
shall lapse at the rate of twenty percent (20%) of the Common Units subject to
such repurchase right per year over the five years from the date the Option is
granted (without respect to the date the Option was exercised or became
exercisable) and (ii) shall terminate in the event the Company's equity
securities become publicly traded.

         (g) The closing for the purchase by the Company of Units pursuant to
the provisions of this Section 8 will take place at the offices of the Company
on the date specified in the written notice of election with respect to such
Units, which date shall be a business day not later than 30 days after the date
such notice is given. At such closing, such Participant will deliver such Units,
duly endorsed for transfer, against payment in cash of the Purchase Price
thereof.

         (h) In the event that the Company chooses not to exercise its right and
option under Section 8(a) hereof, with respect to any Unit, such Unit shall
thereafter cease to be subject to the repurchase provisions of this Section 8.

         Section 9. Adjustments. (a) In the event that, after the adoption of
the Plan by the Board, the outstanding Units shall be increased or decreased or
changed into or exchanged for a different number or kind of equity interests or
other securities of the Company or of another entity, in each such case through
reorganization, merger or

                                      -10-
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consolidation, recapitalization, reclassification, stock split, split-up,
combination or exchange of units or declaration of any dividends or other
distribution payable in Units, the Committee in good faith shall, subject to the
provisions of Section 9(c) below if the circumstances therein specified are
applicable, appropriately adjust (i) the number of Common Units (and the option
price per Common Unit) subject to the unexercised portion of any outstanding
Option (to the nearest possible full Common Unit), (ii) the number of Units to
be acquired pursuant to an Award which have not become vested, and (iii) the
number of Units for which Options and/or Awards may be granted under the Plan,
as set forth in Section 4.1 hereof, and such adjustments shall be effective and
binding for all purposes of the Plan.

         (b) If any capital reorganization or reclassification of the Common
Units of the Company or any consolidation or merger of the Company with another
entity, or the sale of all or substantially all its assets to another entity,
shall be effected in such a way that holders of Common Units shall be entitled
to receive stock, securities or assets with respect to or in exchange for Common
Units, then, subject to the provisions of Section 9(c) below if the
circumstances therein specified are applicable, each holder of an Option shall
thereafter have the right to purchase, upon the exercise of the Option in
accordance with the terms and conditions specified in the option agreement
governing such Option and in lieu of the Common Units immediately theretofore
receivable upon the exercise of such Option, such shares of stock, securities or
assets (including, without limitation, cash) as may be issued or payable with
respect to or in exchange for a number of outstanding Common Units equal to the
number of Common Units immediately theretofore so receivable had such
reorganization, reclassification, consolidation, merger or sale not taken place.

         (c) Notwithstanding Sections 9(a) and 9(b) hereof, in the event of (i)
any offer to holders of the Common Units generally relating to the acquisition
of all or substantially all of their Common Units, including, without
limitation, through purchase, merger or otherwise, or (ii) any proposed
transaction generally relating to the acquisition of substantially all of the
assets or business of the Company (herein sometimes referred to as an
"Acquisition"), the Board may, in its sole discretion, cancel any outstanding
Options and pay or deliver, or cause to be paid or delivered, to the holder
thereof an amount in cash or securities having a value (as determined by the
Board acting in good faith) equal to the product of (A) the number of Common
Units that, as of the date of the consummation of such Acquisition, the holder
of such Option had become entitled to purchase (and had not purchased)
multiplied by (B) the amount, if any, by which (1) the formula or fixed price
per Common Unit paid to holders of Common Units pursuant to such Acquisition
exceeds (2) the option price applicable to such Common Units.

         Section 10. Effect of the Plan on Employment Relationship; Grants to
Employees of Subsidiaries. (a) Neither the Plan nor any Option and/or Award
granted hereunder to a Participant shall be construed as conferring upon such
Participant any right to continue in the employ of (or otherwise provide
services to) any Subsidiary of the Company, or limit in any respect the right of
any Subsidiary of the Company to terminate such Participant's employment or
other relationship with any Subsidiary, as the case may be, at any time.

                                      -11-
<PAGE>

         (b) In the event of the exercise of any Option and/or Award under the
Plan by an employee of any Subsidiary of the Company, it is understood (i) that
the Units to be acquired pursuant to such exercise shall be deemed to have been
transferred from the Company to such Subsidiary at the time of such exercise and
from such Subsidiary to such employee, (ii) that the exercise price or other
consideration payable by such employee to the Company in respect of such Option
and/or Award shall be deemed to have been paid by such employee to such
Subsidiary and by such Subsidiary to the Company and (iii) that at the time of
any such exercise, such Subsidiary shall pay to the Company an amount of cash
equal to the excess of the fair market value of such Units over such exercise
price or other consideration.

         Section 11. Amendment of the Plan. The Board may amend the Plan from
time to time as it deems desirable; provided, however, that, without the
approval of the holders of a majority of the outstanding Units entitled to vote
thereon or consent thereto, the Board may not amend the Plan to increase (except
for increases due to adjustments in accordance with Sections 4.1 or 9 hereof)
the aggregate number of Units for which Options and/or Awards may be granted
hereunder.

         Section 12. Termination of the Plan. The Board may terminate the Plan
at any time. Unless the Plan shall theretofore have been terminated by the
Board, the Plan shall terminate ten years after the date of its initial adoption
by the Board. No Option and/or Award may be granted hereunder after termination
of the Plan. The termination or amendment of the Plan shall not alter or impair
any rights or obligations under any Option and/or Award theretofore granted
under the Plan.

         Section 13. Effective Date of the Plan. The Plan shall be effective as
of August 3, 2001, the date on which the Plan was adopted by the Board and
approved by the requisite holders of outstanding Units of the Company. The
effective date of the Amendment and Restatement of this Plan, as presented in
its material terms to the Board on February 7, 2003, is March 13, 2003.

                                    * * * * *

                                      -12-<PAGE>
                                                                    EXHIBIT 10.4

NEITHER THE OPTION REPRESENTED BY THIS OPTION AGREEMENT NOR THE UNITS OF COMMON
MEMBERSHIP INTERESTS OF ARDENT HEALTH SERVICES LLC FOR WHICH THE OPTION
REPRESENTED BY THIS OPTION AGREEMENT IS EXERCISABLE MAY BE OFFERED OR SOLD IN
THE UNITED STATES ABSENT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM THOSE
REGISTRATION REQUIREMENTS.

TRANSFER OF THE OPTION REPRESENTED BY THIS OPTION AGREEMENT AND THE COMMON
MEMBERSHIP INTERESTS FOR WHICH SUCH OPTION IS EXERCISEABLE IS ALSO RESTRICTED BY
THE TERMS OF THE LIMITED LIABILITY COMPANY AGREEMENT OF ARDENT HEALTH SERVICES
LLC, DATED AS OF AUGUST 3, 2001 AS AMENDED AND IN EFFECT FROM TIME TO TIME.

                           ARDENT HEALTH SERVICES LLC

            Non-Qualified Common Membership Interest Option Agreement

                                                                   (Insert Date)
Employee/Optionee:                          (Insert Employee/Optionee)

Number of Units of Common
Membership Interests subject to
this Agreement (the "Agreement"):           (Insert Number of Common Units)

         Ardent Health Services LLC, a Delaware limited liability company (the
"Company"), has granted to you on this date an option (the "Option") to purchase
in the aggregate, on the terms and subject to the conditions set forth herein,
up to (Insert Number of Common Units) units of common membership interests of
the Company ("Common Units"). Common Units are subject to the terms and
conditions set forth in the Limited Liability Company Agreement of Ardent Health
Services LLC, dated as of August 3, 2001, as amended and in effect from time to
time (the "LLC Agreement"). Common Units for which the Option represented by
this Option Agreement is exercisable (as the same may be adjusted as described
in Section 10 below) are herein referred to as "Option Units."

         The Option shall constitute and be treated at all times by you and the
Company as an equity option, the taxation of which is intended to be subject to
the principles of Treasury Regulation Section 1.83-7, and not as an "incentive
stock option" as defined under Section 422(b) of the Internal Revenue Code of
1986, as amended (the "Code"). Capitalized terms used herein and not otherwise
defined have the meanings ascribed to them in the LLC Agreement and the Amended
and Restated Ardent Health Services LLC and its Subsidiaries Option and
Restricted Unit Purchase Plan, approved April 30, 2002 (the "Plan"), unless the
context otherwise requires. The terms and conditions of the Option are set out
below.

         1.       Date of Grant. The Option is granted to you on (insert date)
(the "Grant Date").

         2.       Termination of Option. Your right to exercise the Option (and
to purchase the Option Units) shall expire and terminate in all events on the
earlier of (i) ten years from the

<PAGE>

Grant Date or (ii) the date provided in Section 9 below in the event you cease
to be employed by any Subsidiary of the Company.

         3.       Option Price. The purchase price to be paid upon the exercise
of the Option will be $4.50 per Option Unit (subject to adjustment as provided
in Section 10 hereof) (the "Exercise Price").

         4.       Vesting Provisions. You will not be entitled to exercise the
Option (and purchase any Option Units) prior to (insert beginning date). This
Option will expire on (insert expiration date), unless it expires sooner
pursuant to Section 8, and is exercisable with respect to the percentage of
Option Units indicated as follows:

<TABLE>
<CAPTION>

                  On and After                        Percentage of Option Units
                  ------------                        --------------------------

<S>                                                   <C>

                  (1st anniversary of grant date 1)   25% of Option Units
                  (2nd anniversary of grant date 2)   Additional 25% of Option Units
                  (3rd anniversary of grant date 3)   Additional 25% of Option Units
                  (4th anniversary of grant date 4)   Additional 25% of Option Units

</TABLE>

         5.       Additional Provisions Relating to Vesting. (a) Once you become
entitled to exercise the Option (and purchase Option Units) as provided in
Section 4, such right will continue until the date on which the Option expires
and terminates pursuant to Section 2 hereof, unless otherwise stipulated herein.
Notwithstanding anything contained herein to the contrary, no new rights to
exercise the Option with respect to any Option Units shall be acquired under
Section 4 hereof after the date on which you cease to be employed on a full-time
basis by the Company.

                  (b)      Notwithstanding Section 4, as of the date of the
         consummation of an Acquisition (as hereinafter defined), the Committee,
         in its sole discretion, may accelerate your Option so your Option Units
         may be exercised in full for a limited period of time on or before a
         specified date (before or after such Acquisition) fixed by the
         Committee, after which specified date all your unexercised Option Units
         shall terminate.

         6.       Exercise of Option. To exercise the Option, you must (i)
deliver a completed copy of the Option Exercise Form (attached hereto as Exhibit
A) to the address indicated on the Form, specifying the number of Option Units
being purchased as a result of such exercise, together with payment of the full
option price for the Option Units being purchased, and (ii) execute and deliver
to the Company a counterpart of the LLC Agreement and agree to become a Member
of the Company as provided thereunder if you have not already done so. Payment
of the option price must be made in cash or by check or such other consideration
acceptable to the Committee in its sole discretion.

         7.       Transferability of Option. You may not transfer the Option
(other than by will or the laws of descent and distribution). The Option may be
exercised during your lifetime only by you.

                                       2
<PAGE>

         8.       Expiration of Option. In general, the right to purchase Option
Units under this Option shall expire on the date specified in Section 4, which
is ten years from the date this Option was granted. However, this Option shall
expire sooner in the circumstances described in this Section.

                  (a)      Termination of Employment. In the event your
         employment by any Subsidiary of the Company shall be terminated by such
         Subsidiary or shall be terminated by you for any reason whatsoever
         other than as a result of your death or "disability" (within the
         meaning of Section 22(e)(3) of the Code), the unexercised portion of
         any Option held by you at that time may only be exercised within 90
         days after the date on which you ceased to be an employee, and only to
         the extent that you could have otherwise exercised such Option as of
         the date on which you ceased to be an employee.

                  (b)      Disability. In the event you shall cease to be an
         Employee of any Subsidiary of the Company by reason of your
         "disability" (within the meaning of Section 22(e)(3) of the Code), the
         unexercised portion of any Option held by you at that time may only be
         exercised within one year after the date on which you ceased to be an
         Employee, and only to the extent that you could have otherwise
         exercised such Option as of the date on which you ceased to be an
         Employee.

                  (c)      Death. In the event that you shall die while an
         Employee of any Subsidiary of the Company (or within a period of one
         month after ceasing to be an Employee for any reason other than your
         "disability" (within the meaning of Section 22(e)(3) of the Code) or
         within a period of one year after ceasing to be an Employee by reason
         of such "disability"), the unexercised portion of any Option held by
         you at the time of your death may only be exercised within one year
         after the date of your death, and only to the extent that you could
         have otherwise exercised such Option at the time of your death. In such
         event, such Option may be exercised by the executor or administrator of
         your estate or by any person or persons who shall have acquired the
         Option directly from you by bequest or inheritance.

         9.       Company's Right and Option to Repurchase Option Units.

                  (a)      In the event that you cease to be employed by any
         Subsidiary of the Company for any reason (including, without
         limitation, as a result of your death, disability, incapacity,
         retirement, resignation or dismissal with or without cause), the
         Company shall have the right and option, but not the obligation, to
         purchase from you (or in the case of your death, your legal
         representative) any or all of the Option Units purchased by you (or in
         the case of your death, your legal representative) within the time
         periods specified in Section 9(e) below.

                  (b)      If your employment is terminated for "cause" and the
         Company exercises such right and option, the Company shall pay to you
         as the purchase price for such Option Units (the "Purchase Price") an
         amount per unit equal to the lesser of the fair market value thereof as
         of the date you ceased to be so employed by any Subsidiary of the
         Company and the Exercise Price.

                                       3
<PAGE>

                  For purposes of this Agreement the term "cause" for
         termination shall mean: (1) "cause" as defined in any employment
         agreement between you and the Company or any subsidiary thereof, or (2)
         in the event you do not have an employment agreement with the Company:
         (i) conviction of having committed a felony, (ii) determination by the
         Board of Directors of the Company that you have committed acts of
         dishonesty or moral turpitude, (iii) failure to follow the reasonable
         directives of the Board of Directors of the Company, or (iv) gross
         negligence or willful misconduct by you in the performance of your
         duties of employment.

                  (c)      If your employment is terminated for any other reason
         and the Company exercises such right and option, the Company shall pay
         to you as the Purchase Price, an amount per Option Unit equal to the
         fair market value thereof as of the Repurchase Date (as hereinafter
         defined).

                  (d)      Fair market value of Option Units will be determined
         in good faith by the Board of Managers of the Company on a basis
         consistent with the manner of determining the fair market value of the
         Company's equity securities for purposes of offering of the Company's
         equity securities to equity investors.

                  (e)      The Company may exercise the right and option
         described in Section 9(a) above by giving you (or in the case of your
         death, your legal representative) a written notice of election to
         purchase at any time within 60 days after the date (each such date
         being herein called the "Repurchase Date") (i) that your employment
         ceases, in the event you (A) have owned the Option Units to be
         repurchased hereunder for at least six months or (B) have been
         terminated for "cause", or (ii) that is the six month anniversary after
         you acquired the Option Units, in the event you have not owned the
         Option Units to be repurchased hereunder for at least six months as of
         the date your employment ceases and your employment was terminated for
         any reason other than "cause". The notice of election shall specify the
         number of Option Units to be purchased and the Purchase Price for such
         Option Units. In the event that you (or in the case of your death, your
         legal representative) exercise the Option and acquire any additional
         Option Units on any date after the date such notice of election is
         provided by the Company, then the Company may again exercise the right
         and option described in Section 9(a) above by giving you (or in the
         case of your death, your legal representative) a written notice of
         election to purchase at any time within 60 days after the Repurchase
         Date, which notice of election shall specify the number of Option Units
         to be purchased and the Purchase Price for such Option Units. The
         closing for the purchase by the Company of Option Units pursuant to the
         provisions of this Section 9 will take place at the offices of the
         Company on the date specified in the written notice of election with
         respect to such Option Units, which date shall be a business day not
         later than 30 days after the date such notice is given. At such
         closing, you will deliver such Option Units, duly endorsed for
         transfer, against payment in cash of the Purchase Price thereof.

                                       4
<PAGE>

                  (f)      In the event that the Company chooses not to exercise
         its right and option under Section 9(a) hereof, the Option Units shall
         thereafter cease to be subject to the repurchase provisions of this
         Section 9.

         10.      Adjustments; Reorganization, Reclassification, Consolidation,
Merger or Sale.

                  (a)      In the event that, after the date hereof, the
         outstanding Option Units shall be changed into or exchanged for a
         different number or kind of shares of stock or other securities of the
         Company or of another corporation, in each such case through
         reorganization, merger or consolidation, recapitalization,
         reclassification, stock split, split-up, combination or exchange of
         shares, the Committee in good faith shall, subject to the provisions of
         Section 10(c) below if the circumstances therein specified are
         applicable, appropriately adjust (i) the number of Option Units (and
         the option price per Option Unit) subject to the unexercised portion of
         the Option (to the nearest possible full Option Unit), (ii) the number
         of Option Units to be acquired pursuant to an Award which has not
         become vested, and (iii) the number of Option Units for which the
         Option and/or Award may be granted under the Plan, and such adjustment
         shall be effective and binding for all purposes of this Agreement
         without the need to obtain your approval.

                  (b)      If any capital reorganization or reclassification of
         the capital stock of the Company or any consolidation or merger of the
         Company with another corporation, or the sale of all or substantially
         all its assets to another corporation, shall be effected after the date
         hereof in such a way that holders of Option Units shall be entitled to
         receive stock, securities or assets with respect to or in exchange for
         Option Units, then, subject to the provisions of Section 10(c) below if
         the circumstances therein specified are applicable, you shall
         thereafter have the right to receive upon the basis and upon the terms
         and conditions specified in the Option and in lieu of the Option Units
         of the Company immediately theretofore receivable upon the exercise of
         the Option, such shares of stock, securities or assets (including,
         without limitation, cash) as may be issued or payable with respect to
         or in exchange for a number of outstanding Option Units equal to the
         number of Option Units immediately theretofore so receivable had such
         reorganization, reclassification, consolidation, merger or sale not
         taken place.

                  (c)      Notwithstanding 10(a) and 10(b) hereof, in the event
         of (i) any offer to holders of the Common Units generally relating to
         the acquisition of all or substantially all of their Common Units,
         including, without limitation, through purchase, merger or otherwise,
         or (ii) any proposed transaction generally relating to the acquisition
         of substantially all of the assets or business of the Company (each, an
         "Acquisition"), the Committee shall cancel your Option and pay or
         deliver, or cause to be paid or delivered, to you an amount in cash or
         securities having a value (as determined by the Board acting in good
         faith) equal to the product of (A) the number of Option Units that, as
         of the date of the consummation of such Acquisition, you had become
         entitled to purchase (and had not purchased) multiplied by (B) the
         amount, if any, by which (1) the formula or fixed price per Common Unit
         paid to holders of Common Units pursuant to such Acquisition exceeds
         (2) the Exercise Price.

                                       5
<PAGE>

         11.      Continuation of Employment. The Option shall not confer upon
you any right to continue in the employ of any Subsidiary of the Company or
limit in any respect the right of such Subsidiary to terminate your employment
or other relationship with the Company of any Subsidiary thereof at any time.

         12.      Status of Participant. You shall not be deemed a holder of
Common Units with respect to any of the Option Units subject to this Option,
except to the extent that such Option Units have been purchased and transferred
to you.

         13.      Representations.

                  (a)      You represent and warrant to the Company that, upon
         exercise of the Option, you will be acquiring the Option Units
         attributable to such Option for your own account for the purpose of
         investment and not with a view to or for sale in connection with any
         distribution thereof, and you understand that (i) neither the Option
         nor any Option Units have been registered with the Securities and
         Exchange Commission by reason of their issuance in a transaction exempt
         from the registration requirements and (ii) any Option Units must be
         held indefinitely by you unless a subsequent disposition thereof is
         registered under the Securities Act or is exempt from such
         registration.

                  (b)      You further represent and warrant that you understand
         the Federal, state and local income tax consequences of the granting of
         the Option to you, the acquisition of rights to exercise the Option
         with respect to any Option Units, the exercise of the Option and
         purchase of Option Units, and the subsequent sale or other disposition
         of any Option Units. In addition, you understand that the Company or a
         Subsidiary thereof will be required to withhold Federal, state or local
         taxes (including Social Security and Medicare taxes) in respect of any
         compensation income realized by you as a result of the exercise of the
         Option, which compensation income shall generally equal the excess of
         the fair market value of any Option Units received upon exercise of the
         Option at the time of exercise over the exercise price of the Option.
         To the extent that the Company or any Subsidiary thereof is required to
         withhold any such taxes as a result of the exercise of the Option, you
         hereby agree that the Company or such Subsidiary may deduct from any
         payments of any kind otherwise due to you an amount equal to the total
         Federal, state and local taxes required to be so withheld (which amount
         shall be the minimum amount required to be withheld under applicable
         law), or if such payments are inadequate to satisfy such Federal, state
         and local taxes, or if no such payments are due or to become due to
         you, then you agree to provide the Company or any Subsidiary thereof
         with cash funds or make other arrangements satisfactory to the Company
         or such Subsidiary regarding such payment. It is understood that all
         matters with respect to the total amount of taxes to be withheld in
         respect of any such compensation income shall be determined by the
         Committee in its sole discretion.

         14.      Committee Authority. Any question concerning the
interpretation of this Agreement, any adjustments required to be made pursuant
to the Plan and Section 10 herein, and any controversy which may arise under the
Plan or this Agreement shall be determined by the Committee in its sole
discretion. Such decision by the Committee shall be final and binding.

                                       6
<PAGE>

         15.      LLC Agreement and Plan. This Agreement is qualified in its
entirety by reference to the provisions of the LLC Agreement and the Plan, which
are hereby incorporated herein by reference.

         16.      Confidentiality. As partial consideration for granting of this
Option, you agree that you will keep confidential all information and knowledge
that you have relating to the manner and amount of your participation in the
Plan; provided, however, that such information may be disclosed as required by
law and may be given in confidence to your spouse, tax and financial advisors,
or to a financial institution to the extent that such information is necessary
to secure a loan.

         17.      General Provisions.

                  (a)      This Agreement shall be governed by and construed in
         accordance with the laws of the State of Tennessee. If any one or more
         provisions of this Agreement shall be found to be illegal or
         unenforceable in any respect, the validity and enforceability of the
         remaining provisions hereof shall not in any way be affected or
         impaired thereby.

                  (b)      This Agreement, the Plan and the LLC Agreement
         contain the entire agreement between the Company and you relating to
         the Option. Except as expressly provided in this Agreement, the Plan or
         the LLC Agreement with respect to certain actions permitted to be taken
         by the Manager, Committee or the Members of the Company with respect to
         this Agreement and the terms of the Option Units, this Agreement may
         not be amended, modified, changed or waived other than by written
         instrument signed by the parties hereto.

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

                                     *******
                            [Signature Page Follows]

                                       7
<PAGE>

         Please acknowledge receipt of this Agreement by signing the enclosed
copy of this Agreement in the space provided below and returning it promptly to
the Secretary of the Company.

                                    ARDENT HEALTH SERVICES LLC

                                    By:
                                        ----------------------------------------
                                           Name:  Stephen C. Petrovich
                                           Title: Secretary

Accepted and Agreed to As of the date first above written:

-------------------------------------
(Name of Option Grantee)

                                       8
<PAGE>

                                                                       EXHIBIT A

                           ARDENT HEALTH SERVICES LLC

                              OPTION EXERCISE FORM

         I,          , do hereby exercise the right to purchase
units of common membership interests of Ardent Health Services LLC pursuant to
the non-qualified option granted to me on (insert date). Enclosed herewith is
$       , an amount equal to the total exercise price for the units of common
membership interests being purchased pursuant to this Option Exercise Form.

Date:
     ------------------------

Signature:
           --------------------------------
                  (insert name of option grantee)

                  Send a completed copy of this Option Exercise Form to:

                                    ARDENT HEALTH SERVICES LLC
                                    One Burton Hills Boulevard, Suite 250
                                    Nashville, TN  37215
                                    Attention: Stephen C. Petrovich

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