Document:

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                                                                    EXHIBIT 10.2

                      HEALTHCARE REALTY TRUST INCORPORATED

                 2003 EMPLOYEES RESTRICTED STOCK INCENTIVE PLAN

1.       PURPOSE OF THE PLAN

         The purpose of the 2003 Employees Restricted Stock Incentive Plan of
Healthcare Realty Trust Incorporated is to promote the success of the Company
and its shareholders by strengthening the Company's ability to attract, motivate
and retain valued employees of the Company upon whose judgment, initiative, and
efforts the continued financial success and growth of the business of the
Company largely depend.

2.       DEFINITIONS

                Whenever used herein, the following terms shall have the
         respective meanings set forth below:

                "BOARD" means the Board of Directors of the Company.

                "COMMITTEE" means the Compensation Committee of the Board as
         appointed by the Board from time to time or, in the absence of
         appointment of such Committee, the Board. The Committee shall consist
         of two or more members of the Board, each of whom shall be a
         "Non-Employee Director" as defined in Rule l6b-3(b)(3) promulgated by
         the Securities and Exchange Commission.

                "COMMON STOCK" means the common stock, $.01 par value per share,
         of the Company.

                "COMPANY" means Healthcare Realty Trust Incorporated.

                "ELIGIBLE PERSON" means any full-time salaried employee of the
         Company, as defined under Internal Revenue Code Section 3401, or of any
         present or future parent, subsidiary corporation, or affiliate of the
         Company.

                "INCENTIVE AWARD" means a non-transferable reservation of shares
         of Common Stock to a Participant, which shares will not be issued until
         specific conditions are met and, after issuance, will be subject to
         substantial risk of forfeiture until certain conditions are met.
         Conditions may be based on continuing employment or achievement of
         pre-established financial objectives or both.

                "PARTICIPANT" means any Eligible Person to whom an Incentive
         Award is granted pursuant to the Plan.

                "PLAN" means this 2003 Employees Restricted Stock Incentive
         Plan, as amended from time to time.

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3.       SHARES OF COMMON STOCK SUBJECT TO THE PLAN

         (a) The aggregate number of shares of Common Stock that may be issued
pursuant to Incentive Awards may not equal or exceed five percent of the total
number of shares of Common Stock then outstanding. If any Incentive Award is not
issued and ceases to be issuable for any reason, or if any shares issued
pursuant to an Incentive Award are forfeited pursuant to the Plan, such
Incentive Award and the related shares will no longer be charged against the
limitations provided for in this Section 3(a) and may again be made subject to
future Incentive Awards.

         (b) The shares of Common Stock to be issued under the Plan will be made
available, at the discretion of the Committee, either from authorized but
unissued shares of Common Stock or from previously issued shares of Common Stock
re-acquired by the Company, including shares purchased on the open market.

4.       ADMINISTRATION OF THE PLAN

         The Committee shall have the sole authority in its discretion to
determine the Eligible Persons to whom, and the time or times at which,
Incentive Awards are made and the number of shares subject to each Incentive
Award. The Committee shall have the authority to construe and interpret the Plan
(except as otherwise provided herein) and any agreement or other document
relating to any Incentive Award, may adopt rules and regulations governing the
administration of the Plan, and shall exercise all other duties and powers
conferred on it by the Plan, or which are incidental or ancillary thereto. All
interpretations, determinations, and actions by the Committee will be final,
conclusive, and binding upon all parties. No member of the Committee will be
liable for any action or determination made in good faith by the Committee with
respect to the Plan or any Incentive Award.

5.       TERMS AND CONDITIONS OF INCENTIVE AWARDS

         (a) Each Incentive Award will be evidenced by a written instrument and
may include such terms and conditions consistent with the Plan as the Committee
may determine. All Incentive Awards will be subject to the provisions of the
Plan.

         (b) The restrictions imposed upon Incentive Awards under Section 5(a)
will lapse in accordance with a schedule or other conditions as determined by
the Committee.

         (c) Subject to the provisions of Section 5(a), the holder will have all
rights of a shareholder with respect to shares issued under Incentive Awards,
including the right to vote the shares and receive all dividends and other
distributions paid or made with respect thereto.

         (d) The Committee may in its sole discretion determine that any
Participant who is on leave of absence for any reason will be considered as
still in the employ of the Company, provided that rights to an Incentive Award
during a leave of absence will be limited to the extent to which such right was
earned or vested at the commencement of such leave of absence.

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         (e) In the event a Participant enters into a consulting agreement with
the Company, following a termination of employment, the Participant will be
vested in his Incentive Awards upon the later to occur of: (i) the period
specified in the Plan or Incentive Award agreement or (ii) the termination of
the consulting agreement.

         (f) Any certificates representing shares of Common Stock issued
pursuant to Incentive Awards shall be issued in the appropriate Participant's
name; however, until all restrictions on such shares are removed or expire, the
certificates may be held by the Company and shall not be transferred except in
accordance with the provisions of the Plan.

         (g) Each Incentive Award is subject to the condition that if at any
time the Committee, in its discretion, shall determine that the listing,
registration or qualification of the shares covered by such Incentive Award upon
any securities exchange or under any state or federal law is necessary or
desirable, then the delivery of any or all shares of Common Stock pursuant to
such Incentive Award may be withheld unless and until such listing, registration
or qualification shall have been effected. If a registration statement is not in
effect under the Securities Act of 1933 or any applicable state securities laws
with respect to the shares of Common Stock issued pursuant to Incentive Awards,
the Committee may require, as a condition to any delivery of Common Stock
pursuant to an Incentive Award, that a Participant represent, in writing, that
the shares received pursuant to the Incentive Award are being acquired for
investment and not with a view to distribution and agree that such shares will
not be disposed of except pursuant to an effective registration statement,
unless the Company shall have received an opinion of counsel that such
disposition is exempt from such requirement under the Securities Act of 1933 and
any applicable state securities laws. The Company may include on certificates
representing shares issued pursuant to Incentive Awards such legends referring
to the foregoing representations or restrictions or any other applicable
restrictions on resale as the Company, in its discretion, shall deem
appropriate.

6.       MERGER AND LIQUIDATION; TERMINATION OF EMPLOYMENT

         Upon (i) a dissolution or liquidation of the Company, (ii) a
reorganization, merger, or consolidation of the Company with one or more
corporations as a result of which the Company is not the surviving corporation,
(iii) the sale of all or substantially all of the assets of the Company, (iv) a
pending or threatened takeover bid or tender offer pursuant to which 10% or more
of the outstanding securities of the Company is acquired, whether or not deemed
a tender offer under applicable state or federal laws, (v) if any person makes
any filing under section 13(d) or 14(d) of the Securities Exchange Act of 1934
with respect to the Company, or (vi) the retirement of a Participant or the
termination of the Participant's employment with the Company other than for
cause, then in such event, all shares reserved for release under Incentive
Awards then outstanding and shares previously released and issued shall become
fully vested and all restrictions will immediately be removed, except as
provided in Section 5 (e) hereof.

7.       GENERAL PROVISIONS

         (a) Neither the establishment of the Plan nor the provision for or
payment of any amounts hereunder nor any action of the Company (including, for
purposes of this Section 7(a), any predecessor or subsidiary), the Board or the
Committee in respect of the

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Plan shall be held or construed to confer upon any person any legal right to
receive, or have any interest in, an Incentive Award or any other benefit under
the Plan, or any legal right to be continued in the employ of the Company. The
Company expressly reserves any and all rights to discharge an Eligible Person in
its sole discretion, without liability of any person, entity or governing body
under the Plan or otherwise. Nothing in this Section 7(a), however, is intended
to adversely affect any express independent right of any person under a separate
employment agreement.

         (b) The establishment of the Plan does not limit the authority of the
Company, the Board or the Committee, or any subsidiary of the Company to provide
any other compensation to any person under any other plan or authority.

         (c) Except as expressly provided by the Committee, no Incentive Award
and no right under the Plan, contingent or otherwise, will be assignable or
subject to any encumbrance, pledge or charge of any nature, until all
restrictions on the shares issued under an Incentive Award have been removed or
expire, and any such attempted action shall be void. No benefit under the Plan
shall be in any manner subject to debts, contracts, liabilities, engagements, or
torts of any Participant or former Participant. Notwithstanding the foregoing,
this Section 7(c) shall not apply to (i) the transfer of any shares to
affiliates of the Participants for bona fide estate planning purposes, or (ii)
the assignment of a contingency or payment due (a) after the death of a
Participant to the deceased Participant's legal representative or beneficiary or
(b) after the disability of a Participant to the disabled Participant's personal
representative.

         (d) No shares of Common Stock will be issued pursuant to an Incentive
Award unless and until all then-applicable requirements imposed by federal and
state securities and their laws, rules and regulations and by any regulatory
agencies having jurisdiction, and by any stock exchanges upon which the Common
Stock may be listed have been fully met. As a condition precedent to the
issuance of shares pursuant to an Incentive Award, the Company may require the
Participant to take any reasonable action to meet such requirements.

         (e) Each Participant agrees that, by receiving an Incentive Award, (i)
he will timely pay to the Company, or make arrangements satisfactory to the
Committee regarding payment of, any federal, state or local taxes of any kind
required by law to be withheld with respect to the shares of Common Stock
granted pursuant to Incentive Awards and (ii) the Company may, to the extent
permitted by law, deduct from any fees or other payments of any kind due to the
Participant any taxes required by law to be withheld with respect to such
shares.

         (f) The Company shall not be required to segregate any assets to effect
any Incentive Awards. Any liability of the Company to pay any Participant with
respect to such grants shall be based solely upon the written provisions of the
Plan; no such obligation shall be deemed to be secured by any pledge or
encumbrance of any property of the Company.

         (g) All questions pertaining to the construction, validity, and effect
of the provisions of the Plan shall be determined in accordance with the laws of
the State of Maryland.

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8.       AMENDMENT, SUSPENSION OR TERMINATION

         (a) The Board or the Committee may from time to time amend, suspend or
terminate in whole or in part, and if suspended or terminated, may reinstate,
any or all of the provisions of the Plan. Notwithstanding the foregoing, no
amendment shall be effective without Board and/or shareholder approval if such
approval is necessary to comply with the applicable requirements of Rule 16b-3
under the Securities Exchange Act of 1934 or of any stock exchange on which the
Common Stock is listed.

         (b) No amendment, suspension or termination of the Plan will, without
the consent of the Participant, alter, terminate, impair or adversely affect any
right or obligation under any Incentive Award previously made under the Plan.

         (c) The Committee may, with the consent of a Participant, make such
modifications in the terms and conditions of an Incentive Award agreement as it
deems advisable.

9.       EFFECTIVE DATE OF PLAN AND DURATION OF PLAN

         This Plan will become effective on January 1, 2003 provided that it is
adopted by the Board in a manner consistent with Maryland law.

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                                                                   EXHIBIT 10.25

                              EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT, dated effective as of February 11, 2002 (the
"Agreement"), by and between COAST DENTAL SERVICES, INC., a Delaware
corporation (the "Company"), and TIMOTHY MERRICK (the "Employee").

     WHEREAS, the Company is presently engaged in the business of providing
practice management services and related services to dentists and other dental
care providers;

     WHEREAS, the Employee has experience as a Vice President of Finance of a
company;

     WHEREAS, the Company wishes to assure itself of the services of the
Employee for the period provided in this Agreement and the Employee is willing
to serve in the employ of the Company for such period upon the terms and
conditions hereinafter set forth.

     NOW THEREFORE, in consideration of the mutual covenants herein contained,
the parties, intending to be legally bound, hereby agree as follows:

     1.   EMPLOYMENT

     The Company hereby agrees to employ the Employee upon the terms and
conditions herein contained, and the Employee hereby agrees to accept such
employment for the term described below. The Employee agrees to serve as the
Company's Vice President of Finance. In such capacity, the Employee shall
report to the Company's Chief Executive Officer, Executive Vice President and
Chief Operating Officer and Board of Directors, and shall have such powers and
responsibilities consistent with his position as may be assigned to him.

     Throughout the term of this Agreement, the Employee shall devote his best
efforts and substantially all of his business time and services to the business
and affairs of the Company.

     2.   TERM OF AGREEMENT

     The two (2) year initial term of the Employee's employment under this
Agreement shall commence as of the date set forth above (the "Effective Date"),
and terminate on February 11, 2004. After the expiration of such initial
two-year employment period, the term of the Employee's employment hereunder
shall automatically be extended without further action by the parties for
successive one (1) year renewal terms, provided that if either party gives the
other party at least thirty (30) days advance written notice of his or its
intention to not renew this Agreement for an additional term, the Agreement
shall terminate upon the expiration of the current term.

     Notwithstanding the foregoing, the Company shall be entitled to terminate
this Agreement immediately for any reason, subject to a continuing obligation
to may any payments required under Section 5 below.

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     3.   SALARY AND BONUS

     (a)  Salary. The Employee shall receive a base salary during the term of
this Agreement at a rate of not less than $150,000.00 per annum, payable in
installments consistent with the Company's normal payroll schedule. The
Compensation Committee of the Board will consult with the Company's Chief
Executive Officer and shall review this base salary at annual intervals, and
may adjust the Employee's annual base salary from time to time as the Committee
deems to be appropriate.

     (b)  Annual Bonus. The Employee shall also be eligible to receive an
annual incentive bonus from the Company for each fiscal year of the Company
during the term of this Agreement, in an amount to be determined by the
Compensation Committee of the Company's Board, based on the Company's
achievement of such performance measures as the Committee deems to be
appropriate. Employee must be employed as of December 31st of the bonus fiscal
year to receive the bonus.

     4.   ADDITIONAL COMPENSATION AND BENEFITS

     The Employee shall receive the following additional compensation and
welfare and fringe benefits:

     (a)  Stock Options. As of the Effective Date of the Agreement, pursuant to
a Stock Option Agreement of even date herewith, the Employee is being granted
stock options with respect to 10,000 shares of common stock under the terms of
the Company's Stock Option Plan at an exercise price of $2.39 per share which
shall vest equally on a prorated basis over a three (3) year period as more
particularly set forth in the Stock Option Agreement. During the remaining term
of the Agreement, any additional stock option or restricted stock awards under
the Stock Option Plan shall be at the discretion of the Compensation Committee
of the Company's Board.

     (b)  Medical Insurance. The Company shall pay for the Employee's medical
insurance benefits in accordance with its standard and customary benefits,
policies and procedures.

     (c)  Vacation. After completion of ninety (90) days of employment, the
Employee shall be entitled to up to three weeks of vacation during each year
during the term of this Agreement and any extensions thereof, prorated for
partial years.

     (d)  Business Expenses. The Company shall reimburse the Employee for all
reasonable expenses he incurs in promoting the Company's business, including
expenses for travel, entertainment of business associates and similar items,
upon presentation by the Employee from time to time of an itemized account of
such expenditures, in accordance with the substantiation requirements of
Section 274 of the Internal Revenue Code, 1986, as amended.

     (d)  Educational Expenses. The Employee shall be entitled to up to five
(5) days educational leave annually to devote to continuing professional
education, maintaining his CPA

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certification, or attendance at other seminars related to his professional
development. The Company shall reimburse the Employee for reasonable expenses
up to $3,000 per year, incurred by the Employee for attending educational
matters and memberships.

     In addition to the benefits provided pursuant to the preceding paragraphs
of this Section 4, the Employee shall be eligible to participate in such
welfare benefit plans, programs, practices and policies of the Company as are
generally applicable to other employees.

     5.   PAYMENTS UPON TERMINATION

     (a)  Termination Without Cause. If the Company terminates the Employee's
employment during the term of this Agreement, the Employee shall be entitled to
receive his base salary accrued through the date of termination. The Employee
shall also receive any nonforfeitable benefits already earned and payable to
him under the terms of any deferred compensation, incentive or other benefit
plan maintained by the Company, payable in accordance with the terms of the
applicable plan.

     If the termination is not for death, disability as described in paragraph
(b), for Cause as described in paragraph (c) or a voluntary termination by the
Employee as described in paragraph (d), the Company shall also be obligated to
make a series of four (4) monthly payments to the Employee. Each monthly
payment shall be equal to one-twelfth (1/12th) of the Employee's annual base
salary, as in effect on the date of termination, regardless of whether the
Employee obtains a replacement position with any new employer (including a
position as an officer, employee, consultant, or agent, or self-employment as a
partner or sole proprietor.) As set forth in greater detail in the Employee's
Stock Option Agreement, the Employee shall retain ability to exercise stock
options for a period of ninety (90) days after the date of termination.

     (b)  Disability. The Company shall be entitled to terminate this Agreement,
if the Board determines that the Employee has been unable to attend to his
duties for at least sixty (60) days because of a medically diagnosable physical
or mental condition, and has received a written opinion from a physician
acceptable to the Board that such condition prevents the Employee from resuming
full performance of his duties and is likely to continue for an indefinite
period. Upon such termination, the Company shall pay to Employee a monthly
disability benefit equal to one-twelfth (1/12th) of his current annual base
salary at the time he became permanently disabled. Payment of such disability
benefit shall commence on the last day of the month following the date of the
termination by reason of permanent disability and cease with the earliest of (i)
the month in which the Employee returns to active employment, either with the
Company or otherwise or (ii) the end of the third month after the date of the
termination. Any amounts payable under this Section 5(b) shall be reduced by any
amounts paid to the Employee under any long-term disability plan or other
disability program or insurance policies maintained or provided by the Company.

     (c)  Termination for Cause. If the Employee's employment is terminated by
the Company for Cause, the amount the Employee shall be entitled to receive
from the Company shall be limited to his base salary accrued through the date
of termination, and any nonforfeitable

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benefits already earned and payable to the Employee under the terms of deferred
compensation or incentive plans maintained by the Company.

     For purposes of this Agreement, the term "Cause" shall be limited to (i)
any action by the Employee involving disloyalty to the Company, such as
embezzlement, fraud, misappropriation of corporate assets or a breach of the
covenants set forth in Sections 9 and 10 below; or (ii) the Employee being
convicted of a felony; or (iii) the Employee being convicted of any lesser crime
or offense committed in connection with the performance of his duties hereunder
or involving moral turpitude; (iv) absenteeism, dishonesty, insubordination,
arrest or indictment for any crime, or conduct disloyal to the Company; or (v)
the failure by the Employee to perform his duties hereunder as directed (other
than any such failure resulting from the Employee's incapacity due to physical
or mental disability) after being notified in writing by the Company of the
specific acts constituting such failure and being given a period of thirty (30)
days after notification by the Company to correct such failure.

     6. EFFECT CHANGE IN CORPORATE CONTROL
        -------------------------------------

     (a)  In the event of a Change in Corporate Control, the vesting of any
stock options or other awards granted to the Employee under the terms of the
Company's Stock Option Plan shall become immediately vested in full and, in the
case of stock options, exercisable in full.

     (b)  For purposes of this Agreement, a "Change in Corporate Control" shall
include any of the following events:

          (i) The acquisition in one or more transactions of more than forty
percent (40%) of the Company's outstanding Common Stock by any corporation, or
other person or group (within the meaning of Section 14(d)(3) of the Securities
Exchange Act of 1934, as amended), with the exclusion of any person, group,
corporation, or affiliates thereof, which are controlled by a member of the
Diasti family.

          (ii) Any merger or consolidation or the Company into or with another
corporation in which the Company is not the surviving entity, or any transfer or
sale of substantially all of the assets of the Company or any merger or
consolidation of the Company into or with another corporation in which the
Company is the surviving entity and, in connection with such merger or
consolidation, all or part of the outstanding shares of Common Stock shall be
changed into or exchanged for other stock or securities of any other person, or
cash, or any other property.

          (iii) Any person, or group of persons, announces a tender offer for at
least forty percent (40%) of the Company's Common Stock.

     (c)  Upon a Change in Corporate Control, the Company shall be obligated to
make a series of twelve (12) monthly payments to the Employee, if terminated
without cause. Each monthly payment shall be equal to the sum of one-twelfth
(1/12th) of the Employee's annual base salary, as in effect on the date of
termination.

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     (d)  Notwithstanding anything else in this Agreement, the amount of
severance compensation payable to the Employee as a result of a Change in
Corporate Control under this Section 6, or otherwise, shall be limited to the
maximum amount the Company would be entitled to deduct pursuant to Section 280G
of the Internal Revenue Code of 1986, as amended.

     7.   DEATH
          -----

     If the Employee dies during the term of this Agreement, the Company shall
pay to the Employee's estate a lump sum payment equal to the sum of the
Employee's base salary accrued through the date of death plus the total unpaid
amount of any bonuses earned with respect to the fiscal year of the Company
most recently ended. In addition, the death benefits payable by reason of the
Employee's death under any retirement, deferred compensation or other employee
benefit plan maintained by the Company shall be paid to the beneficiary
designated by the Employee in accordance with the terms of the applicable plan
or plans.

     8.   WITHHOLDING
          -----------

     The Company shall, to the extent permitted by law, have the right to
withhold and deduct from any payment hereunder any federal, state or local
taxes of any kind required by law to be withheld with respect to any such
payment.

     9.   PROTECTION OF CONFIDENTIAL INFORMATION
          --------------------------------------

     The Employee agrees that he will keep all confidential and proprietary
information of the Company or relating to its business (including, but not
limited to, information regarding the Company's customers, pricing policies,
methods of operation, proprietary computer programs and trade secrets)
confidential, and that he will not (except with the Company's prior written
consent), while in the employ of the Company or thereafter, disclose any such
confidential information to any person, firm, corporation, association or other
entity, other than in furtherance of his duties hereunder, and then only to
those with a "need to know." The Employee shall not make use of any such
confidential information for his own purposes or for the benefit of any person,
firm, corporation, association or other entity (except the Company) under any
circumstances during or after the term of his employment. The foregoing shall
not apply to any information, which is already in the public domain, or is
generally disclosed by the Company or is otherwise in the public domain at the
time of disclosure.

     The Employee recognizes that because his work for the Company will bring
him into contact with confidential and proprietary information of the Company,
the restrictions of this Section 9 are required for the reasonable protection
of the Company and its investments and for the Company's reliance on and
confidence in the Employee.

     10.  COVENANT NOT TO COMPETE
          -----------------------

     The Employee hereby agrees that he will not, either during the term of
this Agreement or during the period of eighteen (18) months from the time the
Employee's employment under this Agreement is terminated, engage in any
business activities on behalf of any enterprise which

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competes with the Company in the business of managing dental practices; provided
that such post-termination period shall be reduced to four (4) months if
Employee is terminated without Cause. The Employee will be deemed to be engaged
in such competitive business activities if he participates in such a business
enterprise as an employee, officer, director, consultant, agent, partner,
proprietor, or other participant; provided that the ownership of no more than
two percent (2%) of the stock of a publicly traded corporation engaged in a
competitive business, shall not be deemed to be engaging in competitive business
activities.

     The Employee agrees that he shall not, for a period of one (1) year from
the time his employment under this Agreement ceases (for whatever reason), and
during any period in which he is receiving monthly severance payments under
Section 5 or Section 6 of this Agreement.

     (a)  Solicit any employee or full-time consultant of the Company for the
purposes of hiring or retaining such employee or consultant; or

     (b)  Contact any present or prospective client of the Company to solicit
such a person to enter into a management contract with any organization other
than the Company or a related entity.

     For this purpose, the Employee shall be considered to be receiving monthly
severance payments under Section 6 of this Agreement during any period for which
he would have received such severance payments had they not been offset by
compensation received from a successor employer.

     11.  INJUNCTIVE RELIEF

     The Employee acknowledges and agrees that it would be difficult to fully
compensate the Company for damages resulting from the breach or threatened
breach of the covenants set forth in Sections 9 and 10 of this Agreement and
accordingly agrees that the Company shall be entitled to temporary and
injunctive relief, including temporary restraining orders, preliminary
injunctions and permanent injunctions, to enforce such provisions in any action
or proceeding instituted in the United States District Court for the Middle
District of Florida, or in any court in the State of Florida, having subject
matter jurisdiction. This provision with respect to injunctive relief shall not,
however, diminish the Company's right to claim and recover damages.

     It is expressly understood and agreed that although the parties consider
the restrictions contained in this Agreement to be reasonable, if a court
determines that the time or territory or any other restriction contained in this
Agreement shall be rendered void but shall be deemed amended to apply as to such
maximum time and territory and to such extent as such court may judicially
determine or indicate to be reasonable.

     12.  SURRENDER OF DOCUMENTS

     Upon the termination of this Agreement and at any other time at the request
of the Employer, the Employee shall promptly surrender to the Employer all
Proprietary Information and

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other written documentation in his possession or under his control relating to
the operation, business or affairs of the Employer.

     13.  NOTICES

     Notices and all other communications provided for hereunder shall be in
writing and shall be deemed to have been duly given when personally delivered or
sent by certified mail, return receipt requested, postage prepaid or by
expedited (overnight) courier with an established national reputation, postage
prepaid or billed to sender, in either instance addressed to the respective
addresses last given by each party in writing to the other. All notices and
communications shall be deemed to have been received on the date of personal
delivery thereof, on the third business day after the mailing thereof, or on the
second day after deposit thereof with an expedited courier service, except that
notice of change of address shall be effective only upon receipt.

     14.  NO CONFLICT

     The Employee represents and warrants that the Employee's employment
hereunder and performance of the terms hereof does not and will not breach any
other agreement to which the Employee is a party. The Employee has not entered
into and shall not enter into any agreement either written or oral, which is in
conflict with this Agreement.

     15.  MODIFICATIONS AND WAIVER

     No provision of this Agreement may be modified, waived or discharged unless
such waiver, modification or discharge is agreed to in writing and signed by the
Employee and an authorized officer of the Employer. The waiver by either party
of a breach by the other of any provision of this Agreement shall not operate or
be construed as a waiver of any subsequent breach by such other party.

     16.  SEVERABILITY

     The invalidity or unenforceability of any provision of this Agreement shall
not in any way affect the validity and/or enforceability of any other provision
hereof. Any invalid or unenforceable provision shall be deemed severable to the
extent of any such invalidity or unenforceability. It is expressly understood
and agreed that while the Employer and the Employee consider the restrictions
contained in this Agreement reasonable for the purpose of preserving for the
Employer the good will, other proprietary rights and intangible business value
of the Employer, if a final judicial determination is made by a court having
jurisdiction that the time or territory or any other restriction contained in
this Agreement is an unreasonable or otherwise unenforceable restriction against
the Employee, the provisions of such clause shall not be rendered void but shall
be deemed amended to apply as to maximum time and territory and to such other
extent as such court may determine to be reasonable.

     17.  GOVERNING LAW AND VENUE

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     This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Florida. The parties agree that the
venue for bringing an action under this Agreement shall be the Circuit Court
for Hillsborough County, Florida.

     18. ENTIRE AGREEMENT

     This Agreement constitutes the entire agreement among the parties with
respect to the subject matter hereof and supercedes and cancels all previous
agreements between the parties.

     19. COUNTERPARTS

     This Agreement may be executed in one or more counterparts each of which
shall be considered an original and together shall constitute one and the same
agreement.

     20. RELATIONSHIP BETWEEN THE PARTIES

     The relationship between the parties is that of Employer and Employee.
Nothing in this Employment Agreement or future addendum is intended and nothing
shall be construed to create a joint venture relationship or partnership.

     21. ARBITRATION

     Subject to the Company's right to seek injunctive relief for any violations
of the covenants set forth in Sections 9 and 10, of this Agreement, any
controversy or claim arising out of this Agreement, or breach thereof, other
than a claim for injunctive relief shall be settled by binding arbitration in
accordance with the Rules of the American Arbitration Association which shall
occur in Tampa, Florida or at such other location as many be mutually agreed to
by the parties.

     22. ASSIGNMENT

     This Agreement shall be binding upon and inure to the benefits of the heirs
and representatives of the Employee and the assigns and successors of the
Company, but neither this Agreement nor any rights hereunder shall be assignable
or otherwise subject to hypothecation by the Employee.

     All provisions of the Employment Agreement shall remain in full force and
effect.

                                       8
<PAGE>
     IN WITNESS WHEREOF, the Employer and the Employee as of the date first
above written have duly executed this Agreement.

EMPLOYER                                     EMPLOYEE

COAST DENTAL SERVICES, INC.

By: /s/ Terek Diasti     1/31/02             By: /s/ Timothy Merrick  1/31/2002
    ----------------------------                 ------------------------------
     TEREK DIASTI, C.E.O.   Date                   TIMOTHY MERRICK        Date

                                       9

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