Document:

<PAGE>

                                                                Exhibit 10(b)

                                 April 20, 2001

Dennis Mooradian
Group EVP
Private Client Services

Dear Dennis:

The purpose of this document is to summarize our mutual understanding with
regard to any potential severance compensation to which you would be entitled
for the duration of your employment with Wells Fargo. This letter supercedes
and replaces the memo from Clyde Ostler to you dated October 7, 1998
regarding your Compensation Agreement.

If during your employment with Wells Fargo:

o    your job is eliminated, your pay opportunity (defined as base pay plus
     bonus opportunity) is reduced, your scope of responsibility is
     significantly reduced ,or you are required to change your primary work
     location by more than 50 miles, or

o    if Wells Fargo terminates your employment for other than the reasons cited
     above, or other than for cause (defined as the commission of a fraudulent
     or dishonest act; or upon your material violation of Wells Fargo's policies
     or the Wells Fargo Code of Ethics and Business Conduct)

you will be eligible for the more favorable of the severance benefit under
the Wells Fargo Salary Continuation Pay Plan OR the following:

     o   A paid leave of absence of eighteen (18) months duration ("paid leave
         period") during which you will be paid at the rate of your base pay
         and target incentive compensation in effect at the commencement of
         the leave, but no less than 2001 target incentive compensation, and

     o   Eligibility for vesting of stock options during the leave of absence.

You will need to agree to a non-solicitation (as defined below) during the
paid leave period (a total of eighteen months) from your departure date and
your eligibility for the severance benefit will be subject to the appropriate
releases.

<PAGE>

Dennis Mooradian                      -2-                        April 20, 2001

Non-solicitation is defined as:

         For the paid leave period, you will not personally, directly or
         indirectly, either as an individual for your own benefit, or on behalf
         of another person or persons, corporation, partnership or other entity,
         solicit any Wells Fargo employee for the purpose of hiring or
         attempting to hire such employee. Also during the paid leave period you
         will not personally, directly or indirectly, attempt to divert any of
         the business of Wells Fargo, or any business which Wells Fargo has a
         reasonable expectation of obtaining, by soliciting, contacting, or
         communicating with any current Wells Fargo customers or prospects.

In addition, Wells Fargo agrees to continue the practice of advancing
$87,500 per quarter in incentive pay as has been done since your joining
Wells Fargo. This total annual advance of $350,000 will be netted from your
annual bonus when that becomes payable in March of each year.

Wells Fargo team members join the company voluntarily and are free to resign
at any time. Similarly, Wells Fargo is free to end an employment relationship
when it is in the company's best interest, including reorganization due to
economic reasons. While we hope our relationship will be long and, mutually
beneficial, neither you nor we have entered into any expressed or implied
contract of employment that would alter your "at will" employment status.

                                                    Sincerely,

                                                    /s/ Les Biller

                                                    Chief Operating Officer
                                                    Wells Fargo & Companyex10-a

OXFORD HEALTH PLANS, INC.

FIRST AMENDMENT

TO CREDIT AGREEMENT

          This FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is dated as of
July 6, 2001 and entered into by and among Oxford Health Plans, Inc., a
Delaware corporation (“Company”), Oxford Benefit Management, Inc., as a Credit
Support Party (the “Credit Support Party”), the financial institutions listed
on the signature pages hereof (“Lenders”), Credit Suisse First Boston, as
Administrative Agent for Lenders (“Administrative Agent”), Deutsche
Banc.Alex.Brown Inc., formerly known as Deutsche Bank Securities Inc., as
Syndication Agent (the “Syndication Agent”) and Credit Lyonnais New York
Branch, as Documentation Agent (the “Documentation Agent”), and is made with
reference to that certain Credit Agreement dated as of December 22, 2000 (the
"Credit Agreement”), by and among Company, Lenders, Agent, Syndication Agent
and Documentation Agent. Capitalized terms used herein without definition
shall have the same meanings herein as set forth in the Credit Agreement.

RECITAL

          WHEREAS, Company and Lenders desire to amend the Credit Agreement to
permit Company increased ability to repurchase shares of its common stock, to
make certain capital contributions to Regulated Subsidiaries, to allow Company
and its Subsidiaries to incur additional Indebtedness, to amend certain
definitions and to make certain other related changes, all as more specifically
set forth herein;

          NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, the parties hereto agree as follows:

Section 1. AMENDMENTS TO THE CREDIT AGREEMENT

          1.1 Amendments to Subsection 1.1: Defined Terms

          A. Subsection 1.1 of the Credit Agreement is hereby amended by deleting
the phrase “minus the sum of the aggregate Term Loan Exposure and the aggregate
Revolving Loan Exposure for all Lenders on such date.” from the definition of
“Available Cash” and by substituting therefor the following:

	 	 	 
	 	 	
“minus the sum of (i) $75,000,000 plus (ii) the Total Utilization of
Revolving Loan Commitments on such date.”

          B. Subsection 1.1 of the Credit Agreement is hereby further amended by
adding at the end of the definition of “Capital Contributions” the following:

	 	 	 
	 	 	
“and provided that amounts contributed by Company to a Regulated
Subsidiary which would otherwise be restricted assets of Company
under the terms of

 

	 	 	 
	
	
	
	

	 	 	
Company’s tax-sharing agreement with the Regulated Subsidiaries
shall not be deemed a Capital Contribution.”

          C. Subsection 1.1 of the Credit Agreement is hereby further amended by
deleting clause (c) from the definition of “Company Cash Flow” and by
substituting therefor the following:

	 	 	 
	 	 	
"(c) contributions to capital or loans to a Regulated Subsidiary
(other than amounts paid in respect of intercompany accounts
receivable and accounts payable incurred in the ordinary course of
business, and other than amounts contributed by Company to a
Regulated Subsidiary which would otherwise be a restricted asset of
Company under the terms of Company’s tax-sharing agreement with the
Regulated Subsidiaries)”

          D. Subsection 1.1 of the Credit Agreement is hereby further amended by
deleting the definition of “Company Excess Cash Flow” therefrom. After giving
effect to the deletion of this defined term, all references within the Credit
Agreement to “Company Excess Cash Flow” shall no longer have any force and
effect.

          E. Subsection 1.1 of the Credit Agreement is hereby amended to add an
additional definition “Extended Maturity Indebtedness” to read as follows:

          “Extended Maturity Indebtedness” means one or more issuances of
Indebtedness of Company and its Subsidiaries in an initial aggregate principal
amount not exceeding $300,000,000 (x) having a final stated maturity no earlier
than the six month anniversary of the final stated maturity of the Term Loans
and percentage amortization no greater than the amortization of the Term Loans
(i.e., Extended Maturity Indebtedness must have an averaged weighted life to
maturity longer than the Term Loans), (y) which may be included within this
Agreement as increased Commitments hereunder and as a separate Class pursuant
to an appropriate agreement of joinder (making appropriate modifications to
this Agreement which could be approved by the action of Requisite Lenders)
executed by Company, Administrative Agent and the lenders committing to provide
such additional Indebtedness, and (z) if made pursuant to increased Commitments
under this Agreement, which may be equally and ratably secured with the
obligations under the Collateral Documents and receive the equal and ratable
benefit of the Subsidiary Guaranty”

          1.2 Amendments to Section 2: Amounts and Terms of Commitments and Loans

          A. Subsection 2.4B(iii) of the Credit Agreement is hereby amended by
deleting clause (c) therefrom and by inserting in lieu thereof the following:

	 	 	 
	 	 	
"(c) Prepayments and Reductions Due to Issuance of Indebtedness.
No later than the first Business Day following receipt by Company or
any of its Subsidiaries of the Cash proceeds (any such proceeds, net
of reasonable and customary underwriting discounts and commissions,
financial advisory or placement fees and other reasonable costs and
expenses associated therewith, including reasonable legal fees and
expenses, being “Net Debt Securities Proceeds") from the issuance of
any debt Securities of Company or any of its Subsidiaries after the
Closing Date (other than Extended Maturity Indebtedness permitted by
subsection 7.1(x)), Company shall

2

	 	 	 
	
	
	
	

	 	 	
prepay the Loans and/or permanently reduce the Revolving Loan
Commitments in an aggregate amount equal to 100% of such Net Debt
Securities Proceeds; provided that, if Net Debt Securities Proceeds
otherwise required to be used to prepay the Loans by this clause (c)
at any time do not equal or exceed $5,000,000, Company may defer
prepayment and/or reduction of the Revolving Loan Commitments until
aggregate Net Debt Securities Proceeds equal at least $5,000,000,
such deferral to be evidenced by an Officers’ Certificate setting
forth the calculation of the Net Debt Securities Proceeds.”

          B. Subsection 2.4B(iii) of the Credit Agreement is hereby amended by
deleting 2.4B(iii)(d) therefrom.

          C. Subsection 2.4B(i) of the Credit Agreement is hereby amended by adding
the following sentence at the end thereof to read as follows:

          “Notwithstanding anything in the foregoing provisions of this subsection
2.4B(i), if Company incurs additional Extended Maturity Indebtedness as
increased Commitments under this Agreement, Company shall make a proportionate
voluntary prepayment of the Extended Maturity Indebtedness concurrently with
each voluntary prepayment of the Term Loans.”

          D. Subsection 2.4B(iv)(b) of the Credit Agreement is hereby amended to add
a final sentence thereto to read as follows:

          “Notwithstanding anything in the foregoing provisions of this subsection
2.4B(iv) to the contrary, the amount of any mandatory prepayment otherwise to
be made on the Term Loans shall be reduced by an amount sufficient to permit a
proportionate mandatory prepayment of Extended Maturity Indebtedness and
Company shall make a mandatory prepayment in such amount on such Indebtedness;
provided, however, that such proportionate mandatory prepayment of Extended
Maturity Indebtedness need only be made if such Extended Maturity Indebtedness
is incurred as increased Commitments hereunder.”

          1.3 Amendments to Section 7: Negative Covenants

          A. Subsection 7.1 of the Credit Agreement is hereby amended by adding the
following Subsection 7.1(x):

	 	 	 
	 	 	
"(x) Company may become and remain liable with respect to Extended
Maturity Indebtedness.”

          B. Subsection 7.2C is hereby amended to add an introductory clause to read
as follows:

          “Except for a provision substantially identical to this subsection 7.2C in
an agreement evidencing Extended Maturity Indebtedness, neither....”

The remainder of such subsection is unchanged.

          C. Subsection 7.3(ii) of the Credit Agreement is hereby amended by
deleting clause (a) therefrom and by inserting in lieu thereof the following:

3

	 	 	 
	 	 	
"(a) make Capital Contributions and own any resulting additional
equity Investments in any Regulated Subsidiary and make capital
contributions to the Regulated Subsidiaries of amounts which would
otherwise be restricted assets of Company under the terms of
Company’s tax-sharing agreement with the Regulated Subsidiaries”

          D. Subsection 7.3(vii) of the Credit Agreement is hereby amended by
deleting the phrase “(other than intercompany accounts receivable and accounts
payable incurred in the ordinary course of business)” and by inserting in lieu
thereof the following:

	 	 	 
	 	 	
"(other than intercompany accounts receivable and accounts payable
incurred in the ordinary course of business and other than amounts
contributed by Company to a Regulated Subsidiary which would
otherwise be a restricted asset of Company under the terms of
Company’s tax-sharing agreement with the Regulated Subsidiaries)”

          E. Subsection 7.4 of the Credit Agreement is hereby amended by deleting
clause (i) therefrom and by substituting in lieu thereof the following:

	 	 	 
	 	 	
"(i) Subsidiaries of the Company may become and remain liable with
respect to Contingent Obligations in respect of the Subsidiary
Guaranty or and such Subsidiaries party to the Subsidiary Guaranty
may become and remain liable with respect to Contingent Obligations
in respect of Extended Maturity Indebtedness.”

          F. Subsection 7.5 of the Credit Agreement is hereby amended by deleting
the phrase “(other than intercompany accounts receivable and accounts payable
incurred in the ordinary course of business)” and by inserting in lieu thereof
the following:

	 	 	 
	 	 	
"(other than intercompany accounts receivable and accounts payable
incurred in the ordinary course of business and other than amounts
contributed by Company to a Regulated Subsidiary which would
otherwise be a restricted asset of Company under the terms of
Company’s tax-sharing agreement with the Regulated Subsidiaries)”

          G. Subsection 7.6C of the Credit Agreement is hereby amended by adding at
the end thereof the following:

	 	 	 
	 	 	
“and aggregate repurchases of Company common stock permitted by
subsection 7.5.”

Section 2. CONFORMING
MODIFICATIONS OF COLLATERAL DOCUMENTS AND SUBSIDIARY GUARANTY

                   AND AGREEMENT OF JOINDER

          By their execution and delivery of this Amendment, Lenders approve,
consent and
agree that (y) Company, Administrative Agent and the lenders providing the
Extended Maturity Indebtedness may execute and deliver an appropriate agreement
of joinder wherein such Lenders become a separate “Class” of “Lenders” with
“Commitments” hereunder and such agreement of joinder may make any other
appropriate modifications of this Agreement to effect the addition of Extended
Maturity Indebtedness as increased Commitments hereunder, all without any
further approval, consent or agreement of Lenders hereunder; provided any such
modification shall have otherwise but for this Section 2 required only the
consent of Requisite Lenders, and (z) if such

          
4

Extended Maturity Indebtedness is incurred as increased Commitments hereunder,
the Collateral Documents and the Subsidiary Guaranty may be appropriately
modified pursuant to documentation acceptable to the Administrative Agent to
provide for equal and ratable security and equal and ratable guaranty benefits,
respectively, for the Extended Maturity Indebtedness.

Section 3. CONDITIONS TO EFFECTIVENESS

          Sections 1 and 2 of this Amendment shall become effective only upon the
satisfaction of all of the following conditions precedent (the date of
satisfaction of such conditions being referred to herein as the “Amendment
Effective Date”):

          A. On or before the Amendment Effective Date, Company shall deliver to
Lenders (or to Administrative Agent for Lenders) the following, each, unless
otherwise noted, dated the Amendment Effective Date:

	 	1.	 	Signature and incumbency certificates of its
officers executing this Amendment;
	 
	 	2.	 	Copies of this Amendment executed by Company and
the Credit Support Party.

          B. Company shall pay to each Lender executing this Amendment on or before
July 6, 2001, by the close of business, New York time, on July 9, 2001, a
consent fee equal to 0.125% multiplied by the sum of (a) such Lender’s Term
Loan Exposure plus (b) such Lender’s Revolving Loan Commitment.

          C. On or before the Amendment Effective Date, all corporate and other
proceedings taken or to be taken in connection with the transactions
contemplated hereby and all documents incidental thereto not previously found
acceptable by Administrative Agent, acting on behalf of Lenders, and its
counsel shall be satisfactory in form and substance to Administrative Agent and
such counsel, and Administrative Agent and such counsel shall have received all
such counterpart originals or certified copies of such documents as
Administrative Agent may reasonably request.

          D. Requisite Lenders and Administrative Agent shall have executed and
delivered copies of this Amendment to Administrative Agent.

Section 4. REPRESENTATIONS AND WARRANTIES

          In order to induce Lenders to enter into this Amendment and to amend the
Credit Agreement and the other Loan Documents in the manner provided herein,
Company and the Credit Support Party represent and warrant to each Lender that
the following statements are true, correct and complete:

          A. Corporate Power and Authority. Each of Company and the Credit Support
Party has all requisite corporate power and authority to enter into this
Amendment and to carry out the transactions contemplated by, and perform its
obligations under, the Credit Agreement and the other Loan Documents as amended
by this Amendment (the “Amended Agreements”).

5

          B. Authorization of Agreements. The execution and delivery of this
Amendment and the performance of the Amended Agreements have been duly
authorized by all necessary corporate action on the part of Company and the
Credit Support Party.

          C. No Conflict. The execution and delivery by Company and the Credit
Support Party of this Amendment and the performance by Company and the Credit
Support Party of the Amended Agreements does not and will not (i) violate any
provision of any law or any governmental rule or regulation applicable to
Company or any of its Subsidiaries, the Certificate or Articles of
Incorporation or Bylaws of Company or any of its Subsidiaries or any order,
judgment or decree of any court or other agency of government binding on
Company or any of its Subsidiaries, (ii) conflict with, result in a breach of
or constitute (with due notice or lapse of time or both) a default under any
Contractual Obligation of Company or any of its Subsidiaries, (iii) result in
or require the creation or imposition of any Lien upon any of the properties or
assets of Company or any of its Subsidiaries or (iv) require any approval of
stockholders or any approval or consent of any Person under any Contractual
Obligation of Company or any of its Subsidiaries.

          D. Governmental Consents. The execution and delivery by Company and the
Credit Support Party of this Amendment and the performance by Company and the
Credit Support Party of the Amended Agreements does not and will not require
any registration with, consent or approval of, or notice to, or other action
to, with or by, any federal, state or other governmental authority or
regulatory body.

          E. Binding Obligation. This Amendment and the Amended Agreements have
been duly executed and delivered by Company and the Credit Support Party and
are the legally valid and binding obligations of Company and the Credit Support
Party, enforceable against Company and the Credit Support Party in accordance
with their respective terms, except as may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws relating to or limiting
creditors’ rights generally or by equitable principles relating to
enforceability.

          F. Incorporation of Representations and Warranties From Credit Agreement.
The representations and warranties contained in Section 5 of the Credit
Agreement are and will be true, correct and complete in all material respects
on and as of the Amendment Effective Date to the same extent as though made on
and as of that date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case they were true, correct
and complete in all material respects on and as of such earlier date.

          G. Absence of Default. No event has occurred and is continuing or will
result from the consummation of the transactions contemplated by this Amendment
that would constitute an Event of Default or a Potential Event of Default.

Section 5. ACKNOWLEDGEMENT AND CONSENT

          Company is a party to the certain Collateral Documents, pursuant to which
Company has created Liens in favor of Agent on certain Collateral to secure the
Obligations. The Credit Support Party is party to the Subsidiary Guaranty and
certain Collateral Documents specified in the Credit Agreement, in each case as
amended through the Amendment Effective Date, pursuant to which the Credit
Support Party has (i) guarantied the Obligations pursuant to the Subsidiary
Guaranty and (ii) granted a security interest in and pledged certain Collateral
to Agent to secure the

          
6

obligations of such Subsidiary under such Subsidiary Guaranty pursuant to
such Collateral Documents. Company and the Credit Support Party are
collectively referred to herein as the “Credit Support Parties and the
Guaranties and Collateral Documents referred to above are collectively referred
to herein as the “Credit Support Documents”.

          Each Credit Support Party hereby acknowledges that it has reviewed the
terms and provisions of the Credit Agreement and the other Loan Documents and
this Amendment and consents to the Credit Agreement as amended by the First
Amendment and to the amendment of the Credit Agreement and the other Loan
Documents effected pursuant to this Amendment. Each Credit Support Party
hereby confirms that each Credit Support Document to which it is a party or
otherwise bound and all Collateral encumbered thereby will continue to guaranty
or secure, as the case may be, to the fullest extent possible the payment and
performance of all “Obligations,” “Guarantied Obligations” and “Secured
Obligations,” as the case may be (in each case as such terms are defined in the
applicable Credit Support Document), including without limitation the payment
and performance of all such “Obligations,” “Guarantied Obligations” or “Secured
Obligations,” as the case may be, in respect of the Obligations of Company and
the Credit Support Parties now or hereafter existing under or in respect of the
Amended Agreements and the Notes defined therein.

          Each Credit Support Party acknowledges and agrees that any of the Credit
Support Documents to which it is a party or otherwise bound shall continue in
full force and effect and that all of its obligations thereunder shall be valid
and enforceable and shall not be impaired or limited by the execution or
effectiveness of this Amendment. Each Credit Support Party represents and
warrants that all representations and warranties contained in the Amended
Agreements and the Credit Support Documents to which it is a party or otherwise
bound are true, correct and complete in all material respects on and as of the
Amendment Effective Date to the same extent as though made on and as of that
date, except to the extent such representations and warranties specifically
relate to an earlier date, in which case they were true, correct and complete
in all material respects on and as of such earlier date.

          Each Credit Support Party (other than Company) acknowledges and agrees
that (i) notwithstanding the conditions to effectiveness set forth in this
Amendment, such Credit Support Party is not required by the terms of the Credit
Agreement or any other Loan Document to consent to the amendments to the Credit
Agreement effected pursuant to this Amendment and (ii) nothing in the Credit
Agreement, this Amendment or any other Loan Document shall be deemed to require
the consent of such Credit Support Party to any future amendments to the Credit
Agreement.

Section 6. MISCELLANEOUS

          A. Reference to and Effect on the Credit Agreement and the Other Loan
Documents.

		
	 	     (i) On and after the Amendment Effective Date, each reference in the
Credit Agreement or the other Loan Documents amended hereby to “this
Agreement”, “hereunder”, “hereof”, “herein” or words of like import
referring to the Credit Agreement or such other Loan Document shall mean
and be a reference to the Amended Agreements.

7

		
	 	     (ii) Except as specifically amended by this Amendment, the Credit
Agreement and the other Loan Documents shall remain in full force and
effect and are hereby ratified and confirmed.
	 
	 	     (iii) The execution, delivery and performance of this Amendment shall
not, except as expressly provided herein, constitute a waiver of any
provision of, or operate as a waiver of any right, power or remedy of
Agent or any Lender under, the Credit Agreement or any of the other Loan
Documents.

          B. Headings. Section and subsection headings in this Amendment are
included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purpose or be given any substantive
effect.

          C. Applicable Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING WITHOUT
LIMITATION SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW
YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

          D. Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same instrument;
signature pages may be detached from multiple separate counterparts and
attached to a single counterpart so that all signature pages are physically
attached to the same document.

[Remainder of page intentionally left blank]

8

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by their respective officers thereunto duly
authorized as of the date first written above.

	 	 	 
	 	 	
OXFORD HEALTH PLANS, INC
	
	
	
	

	 
	 	 
	
	
	
	

	 	 	
By:
	 	 	

	 	 	
Name:
	
	
	
	

	 	 	
Title:
	
	
	
	

	 
 
 
	 	 
	
	
	
	

	 	 	
OXFORD BENEFIT MANAGEMENT, INC., as a Credit
Support Party
	
	
	
	

	 
	 	 
	
	
	
	

	 	 	
By:
	 	 	

	 	 	
Name:
	
	
	
	

	 	 	
Title:

S-1

	 	 	 
	
	
	
	

	 	 	
CREDIT SUISSE FIRST BOSTON, individually and
as Administrative Agent
	
	
	
	

	 
	 	 
	
	
	
	

	 	 	
By:
	 	 	

	 	 	
Name:
	
	
	
	

	 	 	
Title:

S-2

	 	 	 
	 	 	

	 
	 	 
	
	
	
	

	 	 	
By:
	 	 	

	 	 	
Name:
	
	
	
	

	 	 	
Title:

S-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}]]