Document:

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                                                                   EXHIBIT 10.28

                                    AMENDMENT
                                       TO
          AMENDED AND RESTATED CAREMARK RX, INC. 1995 STOCK OPTION PLAN
                           EFFECTIVE NOVEMBER 15, 2000

         The Amended and Restated Caremark Rx, Inc. 1995 Stock Option Plan (the
"Plan") is hereby amended as follows:

         1.       Amendment Regarding Transferability of Nonqualified Stock
Options. Section 6.1(e)(2) of the Plan is hereby amended by deleting Section
6.1(e)(2) in its entirety and substituting the following new Section 6.1(e)(2)
therefor:

                  (2)      Nonqualified Stock Options. No NQO granted under the
         Plan may be sold, transferred, pledged, assigned, or otherwise
         alienated or hypothecated, other than by will or by the laws of descent
         and distribution. Notwithstanding the foregoing, to the extent not
         prohibited by any statute, rule or regulation applicable to the Plan,
         the Options or the registration with the Securities and Exchange
         Commission of the Common stock to be issued upon exercise of the
         Option, the Committee may, in its discretion, authorize all or a
         portion of NQOs granted to an optionee to be on terms which permit
         transfer by such optionee to (i) the spouse, children or grandchildren
         of the optionee ("Immediate Family Members"), (ii) a trust or trusts
         for the exclusive benefit of such Immediate Family Members, or (iii) a
         partnership in which such Immediate Family Members are the only
         partners, provided that (y) the Option Agreement pursuant to which such
         NQOs are granted must be approved by the Committee, and must expressly
         provide for transferability in a manner consistent with this Section,
         and (z) subsequent transfers of transferred NQOs shall be prohibited
         except those by will or the laws of descent and distribution. Following
         transfer, any such NQOs shall continue to be subject to the same terms
         and conditions as were applicable immediately prior to transfer,
         provided that for purposes of this Plan, the term "optionee" shall be
         deemed to refer to the transferee. The events of termination of
         employment shall continue to be applied with respect to the original
         optionee, following which the NQOs shall be exercised by the transferee
         only to the extent, and for the periods specified in Section 6.1(g).
         Notwithstanding the foregoing, should the Committee provide that NQOs
         granted be transferable, the Company by such action incurs no
         obligation to notify or otherwise provide notice to a transferee of
         early termination of the NQO. In the event of a transfer, as set forth
         above, the original optionee is and will remain subject to an
         responsible for any applicable withholding taxes upon the exercise of
         such NQOs.

         2.       Effective Date. The effective date of this Amendment shall be
November 15, 2000.

         3.       Miscellaneous.

                  (a)      Capitalized terms not otherwise defined herein shall
have the meanings given them in the Plan.

                  (b)      Except as specifically amended hereby, the Plan shall
remain in full force and effect.

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         IN WITNESS WHEREOF, the Company has caused this Amendment to the
Amended and Restated Caremark Rx, Inc. 1995 Stock Option Plan to be executed as
of the Effective Date.

                                      CAREMARK RX, INC.

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

                                      Sara J. Finley, Corporate Secretary

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                                                                   EXHIBIT 10.29

                                SECOND AMENDMENT
                                     TO THE
                    CAREMARK RX, INC. 1995 STOCK OPTION PLAN
               (FORMERLY THE AMENDED & RESTATED MEDPARTNERS, INC.
                             1995 STOCK OPTION PLAN)

         This Second Amendment to the Caremark Rx, Inc. 1995 Stock Option Plan
(formerly the Amended & Restated Medpartners, Inc. 1995 Stock Option Plan) (the
"Plan") to be effective as of January 12, 2001.

                                   WITNESSETH:

         WHEREAS, Caremark Rx, Inc. (the "Company") currently sponsors and
maintains the Caremark Rx, Inc. 1995 Stock Option Plan (formerly the Amended &
Restated Medpartners, Inc. 1995 Stock Option Plan) (the "Plan"); and

         WHEREAS, Section 11 of the Plan grants the Compensation Committee of
the Board the power at any time to amend the Plan, and the Compensation
Committee now wishes to amend the Plan to modify the vesting provisions for
options granted under the Plan on and after January 12, 2001;

         NOW, THEREFORE, the Plan is hereby amended as indicated below:

                                       1.

         Section 6.4 of the Plan is amended effective as of January 12, 2001, to
read as follows:

                  6.4 Vesting of Options. Except as set forth by the Committee
         in the applicable Option Agreement, Options granted pursuant to the
         Plan shall vest as follows:

                  (a)      34% of the Options shall vest on the Grant Date;

                  (b)      33% of the Options granted shall vest on each of the
         first anniversary and second anniversary of the Grant Date; provided,
         however, that for Options granted prior to January 12, 2001, if during
         the first year after the Grant Date, the stock price of the Common
         Stock closes at or above $12.00 (or such other price as determined by
         the Committee and set forth in the applicable Option Agreement) for any
         twenty (20) out of thirty (30) consecutive trading days, the 33% of the
         Options due to vest on the first anniversary of the Grant Date shall
         vest immediately at the end of such 20th day, and provided, however,
         that for Options granted prior to January 12, 2001, if during the
         second year after the Grant Date, the stock price of the Common Stock
         closes at or above $18.00 (or such other price as determined by the
         Committee and set forth in the applicable Option

                             Second Amendment to the
                    Caremark Rx, Inc. 1995 Stock Option Plan
                                     Page 1

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         Agreement) for any twenty (20) out of thirty (30) consecutive trading
         days, the 33% of the Options due to vest on the second anniversary of
         the Grant Date shall vest immediately at the end of such 20th day.

                                       2.

         The name of the Plan is changed effective as of January 12, 2001 from
the Amended & Restated Medpartners, Inc. 1995 Stock Option Plan to the Caremark
Rx, Inc. 1995 Stock Option Plan. All references in any Company documents to the
Amended & Restated Medpartners, Inc. 1995 Stock Option Plan shall, after January
12, 2001, be a reference to the Caremark Rx, Inc. 1995 Stock Option Plan.

                                       3.

         All other provisions of the Plan not inconsistent herewith are hereby
confirmed and ratified.

                       Approved by the Board of Directors
                       by resolutions on January 12, 2001.

                             Second Amendment to the
                    Caremark Rx, Inc. 1995 Stock Option Plan
                                     Page 2<PAGE>   1
                                                                   EXHIBIT 10.31

                                    AMENDMENT
                                       TO
         AMENDED AND RESTATED 1997 LONG TERM INCENTIVE COMPENSATION PLAN
                           EFFECTIVE NOVEMBER 15, 2000

         The Caremark Rx, Inc. Amended and Restated 1997 Long Term Incentive
Compensation Plan (the "Plan") is hereby amended as follows:

         1.       Amendment Regarding Transferability of Nonqualified Stock
Options. Section 6.10(b) of the Plan is hereby amended by deleting Section
6.10(b) in its entirety and substituting the following new Section 6.10(b)
therefor:

                  (b)      NONQUALIFIED STOCK OPTIONS. No NQSO granted under the
         Plan may be sold, transferred, pledged, assigned or otherwise alienated
         or hypothecated, other than by will or by the laws of descent and
         distribution. Notwithstanding the foregoing, to the extent not
         prohibited by any statute, rule or regulation applicable to the Plan,
         the Options, or the registration with the Securities and Exchange
         Commission of the Shares to be issued upon exercise of the Options, the
         Committee may, in its discretion, authorize all or a portion of NQSOs
         granted to a Participant to be on terms which permit transfer by such
         Participant to (i) Immediate Family Members, (ii) a trust or trusts for
         the exclusive benefit of such Immediate Family Members, or (iii) a
         partnership in which such Immediate Family Members are the only
         partners, provided that (A) the Award Agreement pursuant to which such
         Options are granted must be approved by the Committee, and must
         expressly provide for transferability in a manner consistent with this
         Section, and (B) subsequent transfers of transferred Options shall be
         prohibited except those by will or the laws of descent and
         distribution. Following transfer, any such Options shall continue to be
         subject to the same terms and conditions as were applicable immediately
         prior to transfer, provided that for purposes of this Plan, the term
         "Participant" shall be deemed to refer to the transferee. The events of
         termination of employment shall continue to be applied with respect to
         the original Participant, following which the Options shall be
         exercisable by the transferee only to the extent, and for the periods
         specified in this Section 6.10. Notwithstanding the foregoing, should
         the Committee provide that Options granted be transferable, the Company
         by such action incurs no obligation to notify or otherwise provide
         notice to a transferee of early termination of the Option. In the event
         of a transfer, as set forth above, the original Participant is and will
         remain subject to and responsible for any applicable withholding taxes
         upon the exercise of such Options.

         2.       Effective Date. The effective date of this Amendment shall be
November 15, 2000.

         3.       Miscellaneous.

                  (a)      Capitalized terms not otherwise defined herein shall
have the meanings given them in the Plan.

                  (b)      Except as specifically amended hereby, the Plan shall
remain in full force and effect.

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         IN WITNESS WHEREOF, the Company has caused this Amendment to the
Caremark Rx, Inc. Amended and Restated 1997 Long Term Incentive Compensation
Plan to be executed as of the Effective Date.

                                         CAREMARK RX, INC.

                                         ---------------------------------------
                                         Sara J. Finley, Corporate Secretary

                                      -2-

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