Document:

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                                 SELECTQUOTE, INC.

                                AMENDED AND RESTATED
                           REGISTRATION RIGHTS AGREEMENT

       THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (the "AGREEMENT")
is entered into as of February __, 2000, by and among SelectQuote, Inc., a
Delaware corporation (the "COMPANY"), Marsh & McLennan Capital Technology
Venture Fund, L.P., a Delaware limited partnership, Marsh & McLennan Capital
Technology Professionals Venture Fund, L.P., a Delaware limited partnership,
Trident II, L.P., a Cayman Islands exempted limited partnership, Marsh &
McLennan Employees', Securities Company, L.P., a Cayman Islands exempted limited
partnership, Marsh & McLennan Capital Professionals Fund, L.P., a Cayman Islands
exempted limited partnership (collectively, the "MARSH PARTIES"); High Ridge
Capital Partners II, L.P., a Delaware limited partnership ("HIGH RIDGE");
McCutchen, Doyle, Brown & Enersen, LLP ("MDBE") and each of the additional
stockholders listed on Exhibit A (each, including the Marsh Parties and High
Ridge, an "INVESTOR" and collectively with the Marsh Parties and High Ridge, the
"INVESTORS").  This Agreement amends and restates, in its entirety, and
replaces, the Registration Rights Agreement dated December 23, 1999, by and
among the Company and the parties named therein (the "RIGHTS AGREEMENT").

                                       RECITALS

       WHEREAS, the Investors own shares of Series D Preferred Stock and shares
of Series E Preferred Stock of the Company (the "SHARES"); and

       WHEREAS, the Company, the Marsh Parties and High Ridge are parties to an
Investment Agreement dated February ___, 2000 (the "INVESTMENT AGREEMENT"); and

       WHEREAS, as a condition of entering into the Investment Agreement, High
Ridge and the Marsh Parties have requested that the Company extend to them
registration rights and other rights as set forth below; and

       WHEREAS, the parties wish to provide the Investors with such registration
rights with respect to the Series E Preferred Stock.

       NOW THEREFORE, in consideration of the mutual promises, representations,
warranties, covenants and conditions set forth in this Agreement, the parties
mutually agree that the Rights Agreement is hereby amended and restated in its
entirety as follows:

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1.     GENERAL

       1.1    DEFINITIONS.  As used in this Agreement the following terms shall
have the following respective meanings:

       "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended.

       "HOLDER" means any party hereto (other than the Company) owning of record
Registrable Securities that have not been sold to the public or any assignee of
record of such Registrable Securities in accordance with SECTION 2.10 hereof.

       "INITIAL OFFERING" means the Company's first firm commitment underwritten
public offering registered under the Securities Act covering the offer and sale
of its Common Stock for the account of the Company in which (i) the per share
price is at least $5.00 (as adjusted for any stock dividends, combinations,
splits, recapitalizations and the like with respect to such shares) and (ii) the
gross cash proceeds to the Company (before underwriting discounts, commissions
and fees) are at least $7,500,000.

       "REGISTER," "REGISTERED," and "REGISTRATION" refer to a registration
effected by preparing and filing a registration statement in compliance with the
Securities Act, and the declaration or ordering of effectiveness of such
registration statement or document.

       "REGISTRABLE SECURITIES" means (i) Common Stock of the Company owned of
record by the parties hereto; (ii) Common Stock of the Company issued or
issuable upon conversion of the Shares; (iii) any Common Stock of the Company
issued as (or issuable upon the conversion or exercise of any warrant, right, or
other security which is issued as) a dividend or other distribution with respect
to, or in exchange for, or in replacement of, such above-described securities;
and (iv) any Common Stock of the Company issued or issuable upon conversion of
the Debentures (as that term is defined in the Debenture Agreement).
Notwithstanding the foregoing, Registrable Securities shall not include any
securities sold by a person to the public either pursuant to a registration
statement or Rule 144 or sold in a private transaction in which the transferor's
rights under SECTION 2 of this Agreement are not assigned.

       "REGISTRABLE SECURITIES THEN OUTSTANDING" shall be the number of shares
determined by calculating the total number of shares of the Company's Common
Stock that are Registrable Securities and either (l) are then issued and
outstanding or (2) are issuable pursuant to then exercisable or convertible
securities.

       "REGISTRATION EXPENSES" shall mean all expenses incurred by the Company
in complying with SECTIONS 2.2, 2.3 and 2.4 hereof, including, without
limitation, all registration and filing fees, printing expenses, fees and
disbursements of counsel for the Company, reasonable fees and disbursements of a
single special counsel for the Holders, blue sky fees and expenses and the
expense of any special audits incident to or required by any such registration
(but excluding the compensation of regular employees of the Company which shall
be paid in any event by the Company).

       "SECURITIES ACT" shall mean the Securities Act of 1933, as amended.

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       "SELLING EXPENSES" shall mean all underwriting discounts and selling
commissions applicable to the sale of Registrable Securities.

       "FORM S-3" means such form under the Securities Act as in effect on the
date hereof or any successor registration form under the Securities Act
subsequently adopted by the SEC which permits inclusion or incorporation of
substantial information by reference to other documents filed by the Company
with the SEC.

       "SEC" or "COMMISSION" means the Securities and Exchange Commission.

2.     REGISTRATION; RESTRICTION ON TRANSFER

       2.1    RESTRICTIONS ON TRANSFER.

              2.1.1. Each Holder agrees not to make any disposition of all or
any portion of the Shares or Registrable Securities unless and until:

                     1.     There is then in effect a registration statement
under the Securities Act covering such proposed disposition and such disposition
is made in accordance with such registration statement; or

                     2.     (A) The transferee has agreed in writing to be bound
by this SECTION 2.1 and Articles VI and VII of the Investment Agreement, (B)
such Holder shall have notified the Company of the proposed disposition and
shall have furnished the Company with a detailed statement of the circumstances
surrounding the proposed disposition, and (C) such Holder shall have furnished
the Company with an opinion of outside or in-house counsel, reasonably
satisfactory to the Company, that such transfer or disposition without
registration of such shares under the Securities Act will not constitute a
violation of the Securities Act or any applicable state laws. It is agreed that
the Company will not require opinions of counsel for transactions made pursuant
to Rule 144 except in unusual circumstances.

                     3.     Notwithstanding the provisions of paragraphs (1) and
(2) above, no such registration statement or opinion of counsel shall be
necessary for a transfer by a Holder which is (A) a partnership to its partners
or former partners in accordance with partnership interests, (B) a corporation
to its shareholders in accordance with their interests in the corporation, (C) a
limited liability company to its members or former members in accordance with
their interests in the limited liability company, (D) to the Holder's family
member or trust for the benefit of an individual Holder, or (E) to an affiliate
of the Holder, provided the transferee will be subject to the terms of this
SECTION 2.1 to the same extent as if he were an original Holder hereunder.

              2.1.2. Each certificate representing Shares or Registrable
Securities shall (unless otherwise permitted by the provisions of the Agreement)
be stamped or otherwise imprinted with a legend substantially similar to the
following (in addition to any legend required under applicable state securities
laws, the Company's bylaws, or as provided elsewhere in this Agreement):

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       THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
       THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), AND MAY NOT BE
       OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR
       HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR UNLESS
       THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE
       COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.

              2.1.3. The Company shall be obligated to reissue promptly
unlegended certificates at the request of any Holder thereof if the Holder shall
have obtained an opinion of outside or in-house counsel (which outside counsel
may be counsel to the Company), reasonably acceptable to the Company to the
effect that the securities proposed to be disposed of may lawfully be so
disposed of without registration, qualification or legend.

              2.1.4. Any legend endorsed on an instrument pursuant to applicable
state securities laws and the stop-transfer instructions with respect to such
securities shall be removed upon receipt by the Company of an order of the
appropriate state securities authority authorizing such removal.

       2.2    DEMAND REGISTRATION.

              2.2.1. Subject to the conditions of this SECTION 2.2, if the
Company shall receive a written request from (1) the Holders of more than fifty
percent (50%) of the Registrable Securities then outstanding (the "INITIATING
HOLDERS;" such request, the "GENERAL DEMAND"), (2) High Ridge (such request, the
"HIGH RIDGE DEMAND"), or (3) the Marsh Parties (such request, the "MARSH PARTIES
DEMAND") that the Company file a registration statement under the Securities Act
covering the registration of Registrable Securities having an anticipated
aggregate offering price (before any underwriting discounts and commissions) to
the public in excess of $5,000,000 (or $7,500,000 if such requested registration
is the initial public offering of securities of the Company made pursuant to a
registration statement), then the Company shall promptly give written notice of
such request to all Holders of Registrable Securities, and subject to the
limitations of this SECTION 2.2, use its diligent best efforts to effect, as
soon as practicable, the registration under the Securities Act of all
Registrable Securities that the Holders request to be registered.

              2.2.2. Unless the request under this Section 2.2 is made after the
Company's Initial Offering, the Registrable Securities shall be distributed only
by means of a firm commitment underwriting. If the Initiating Holders, the Marsh
Parties or High Ridge, as appropriate, intend to distribute the Registrable
Securities covered by their request by means of an underwriting, they shall so
advise the Company as a part of their request made pursuant to this Section 2.2
and the Company shall include such information in the written notice referred to
in Section 2.2.1. In such event, the right of any Holder to include its
Registrable Securities in such registration shall be conditioned upon such
Holder's participation in such underwriting and the inclusion of such Holder's
Registrable Securities in the underwriting (unless otherwise mutually agreed by
a majority in interest of the Initiating Holders, the Marsh Parties or High
Ridge, as appropriate, and such Holder) to the extent provided herein. All
Holders proposing to distribute their securities through such underwriting shall
enter into an underwriting agreement in customary form with the underwriter or
underwriters selected for such underwriting by a majority in interest of the
Initiating Holders, the Marsh Parties or High Ridge, as appropriate, (which
underwriter or underwriters shall be reasonably acceptable to the

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Company). Notwithstanding any other provision of this Section 2.2, if the
underwriter advises the Company that marketing factors require a limitation of
the number of securities to be underwritten (including Registrable Securities)
pursuant to a General Demand, then the Company shall so advise all Holders of
Registrable Securities which would otherwise be underwritten pursuant hereto,
and the number of shares that may be included in the underwriting shall be
allocated to the Holders of such Registrable Securities on a pro rata basis
based on the number of Registrable Securities held by all such Holders
(including the Initiating Holders, High Ridge and the Marsh Parties).
Notwithstanding any other provision of this Section 2.2, if the required
limitation of the number of securities to be underwritten is in connection with
a High Ridge Demand or a Marsh Parties Demand, then none of the Registrable
Securities held by High Ridge or the Marsh Parties shall be excluded from such
registration until the number of shares that may be included in the underwriting
by the other Holders, excluding High Ridge and the Marsh Parties, has been
reduced to zero, and the number of shares of such other Holders to be included
in the underwriting shall be determined on a pro rata basis, as provided above.
If the required limitation of the number of securities to be underwritten in
connection with a High Ridge Demand or a Marsh Demand is such that all
Registrable Securities held by High Ridge and the Marsh Parties may not be
included in the underwriting, then the number of shares that may be included in
the underwriting shall be allocated to High Ridge and the Marsh Parties on a pro
rata basis based upon the number of Registrable Securities held by each of them.
Any Registrable Securities excluded or withdrawn from such underwriting shall be
withdrawn from the registration.

              2.2.3. The Company shall not be required to effect a registration
pursuant to this Section 2.2:

              1.     prior to (A) August 26, 2000, or (B) six (6) months after
the date of the Company's Initial Offering, whichever is earlier; or

              2.     pursuant to a General Demand, after the Company has
effected two (2) registrations pursuant to General Demands, pursuant to a High
Ridge Demand after the Company has effected one (1) registration pursuant to a
High Ridge Demand and pursuant to a Marsh Parties Demand after the Company has
effected one (1) registration pursuant to a Marsh Parties Demand as set forth in
this Section 2.2, and such registrations have been declared or ordered
effective; or

              3.     during the period starting with the date of filing of, and
ending on the date ninety (90) days following the effective date of the
registration statement pertaining to the Initial Offering, provided that the
Company is making reasonable and good faith efforts to cause such registration
statement to become effective; or

              4.     if within thirty (30) days of receipt of a written request
from Initiating Holders, High Ridge or the Marsh Parties, as appropriate,
pursuant to Section 2.2.1, the Company gives notice to the Holders of the
Company's intention to make its Initial Offering within ninety (90) days; or

              5.     if the Company shall furnish to Holders requesting a
registration statement pursuant to this Section 2.2, a certificate signed by the
Chairman of the Board stating that in the good faith judgment of the Board of
Directors of the Company, it would be seriously detrimental to the Company and
its stockholders for such registration statement to be effected at such time, in

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which event the Company shall have the right to defer such filing for a period
of not more than ninety (90) days after receipt of the request of the Initiating
Holders, High Ridge or the Marsh Parties, as appropriate; provided that such
right to delay a request shall be exercised by the Company no more than twice in
any one-year period.

       2.3    PIGGYBACK REGISTRATIONS.  The Company shall notify all Holders of
Registrable Securities in writing at least thirty (30) days prior to the filing
of any registration statement under the Securities Act for purposes of a public
offering of securities of the Company (including, but not limited to,
registration statements relating to secondary offerings of securities of the
Company, but excluding registration statements relating to employee benefit
plans or with respect to corporate reorganizations or other transactions under
Rule 145 of the Securities Act) and will afford each such Holder an opportunity
to include in such registration statement all or part of such Registrable
Securities held by such Holder. Each Holder desiring to include in any such
registration statement all or any part of the Registrable Securities held by it
shall, within fifteen (15) days after the above-described notice from the
Company, so notify the Company in writing. Such notice shall state the intended
method of disposition of the Registrable Securities by such Holder. If a Holder
decides not to include all of its Registrable Securities in any registration
statement thereafter filed by the Company, such Holder shall nevertheless
continue to have the right to include any Registrable Securities in any
subsequent such registration statement or registration statements as may be
filed by the Company with respect to offerings of its securities, all upon the
terms and conditions set forth herein.

              2.3.1. UNDERWRITING.  If the registration statement under which
the Company gives notice under this SECTION 2.3 is for an underwritten offering,
the Company shall so advise the Holders of Registrable Securities.  In such
event, the right of any such Holder to be included in a registration pursuant to
this SECTION 2.3 shall be conditioned upon such Holder's participation in such
underwriting and the inclusion of such Holder's Registrable Securities in the
underwriting to the extent provided herein.  All Holders proposing to distribute
their Registrable Securities through such underwriting shall enter into an
underwriting agreement in customary form with the underwriter or underwriters
selected for such underwriting by the Company.  Notwithstanding any other
provision of the Agreement, if the underwriter determines in good faith that
marketing factors require a limitation of the number of shares to be
underwritten, the number of shares that may be included in the underwriting
shall be allocated, first, to the Company; second, to the Holders on a pro rata
basis based on the total number of Registrable Securities held by the Holders;
and third, to any stockholder of the Company (other than a Holder) on a pro rata
basis.  No such reduction shall reduce the securities being offered by the
Company for its own account to be included in the registration and underwriting,
and in no event shall the amount of securities of the selling Holders included
in the registration be reduced below twenty-five percent (25%) of the total
amount of securities included in such registration, unless such offering is the
Initial Offering and such registration does not include shares of any other
selling stockholders, in which event any or all of the Registrable Securities of
the Holders may be excluded in accordance with the immediately preceding
sentence.  In no event will shares of any other selling stockholder be included
in such registration where inclusion of such shares would reduce the number of
shares which may be included by the Holders, without the written consent of
Holders of more than fifty percent (50%) of the Registrable Securities proposed
to be sold in the offering.

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              2.3.2  RIGHT TO TERMINATE REGISTRATION.  The Company shall have
the right to terminate or withdraw any registration initiated or withdraw any
registration initiated by it under this SECTION 2.3 prior to the effectiveness
of such registration, whether or not any Holder has elected to include
securities in such registration. The Registration Expenses of such withdrawn
registration shall be borne by the Company in accordance with SECTION 2.5
hereof.

       2.4    FORM S-3 REGISTRATION.  Following the Initial Offering, the
Company shall use its best efforts to qualify for registration on Form S-3 for
secondary sales. In case the Company shall receive from any Holder or Holders of
Registrable Securities a written request or requests that the Company effect a
registration on Form S-3 (or any successor to Form S-3) or any similar
short-form registration statement and any related qualification or compliance
with respect to all or a part of the Registrable Securities owned by such Holder
or Holders, the Company will:

              2.4.1. promptly give written notice of the proposed registration,
and any related qualification or compliance, to all other Holders of Registrable
Securities; and

              2.4.2. as soon as practicable, effect such registration and all
such qualifications and compliances as may be so requested and as would permit
or facilitate the sale and distribution of all or such portion of such Holder's
or Holders' Registrable Securities as are specified in such request, together
with all or such portion of the Registrable Securities of any other Holder or
Holders joining in such request as are specified in a written request given
within fifteen (15) days after receipt of such written notice from the Company;
provided, however, that the Company shall not be obligated to effect any such
registration, qualification or compliance pursuant to this SECTION 2.4:

              1.     if Form S-3 (or any successor or similar form) is not
available for such offering by the Holders; or

              2.     if the Holders, together with the holders of any other
securities of the Company entitled to inclusion in such registration, propose to
sell Registrable Securities and such other securities (if any) at an aggregate
price to the public of less than $500,000; or

              3.     if the Company shall furnish to the Holders a certificate
signed by the Chairman of the Board of Directors of the Company stating that in
the good faith judgment of the Board of Directors of the Company, it would be
seriously detrimental to the Company and its stockholders for such Form S-3
Registration to be effected at such time, in which event the Company shall have
the right to defer the filing of the Form S-3 registration statement for a
period of not more than ninety (90) days after receipt of the request of the
Holder or Holders under this SECTION 2.4; provided, that such right to delay a
request shall be exercised by the Company no more than twice in any one-year
period; or

              4.     in any particular jurisdiction in which the Company would
be required to qualify to do business or to execute a general consent to service
of process in effecting such registration, qualification or compliance.

              2.4.3. Subject to the foregoing, the Company shall file a Form S-3
registration statement covering the Registrable Securities and other securities
so requested to be registered as soon as practicable after receipt of the
request or requests of the Holders. All Selling Expenses

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incurred in connection with registrations requested pursuant to this SECTION 2.4
shall be paid by the selling Holders pro rata in proportion to the number of
shares sold by each.

              2.4.4. The rights of holders to require registration pursuant to
this Section 2.4 shall be in addition to the rights granted under Section 2.2
hereof and no request made pursuant to this Section 2.4 shall be deemed a
request under Section 2.2 hereof.

       2.5    EXPENSES OF REGISTRATION.  Except as specifically provided herein,
all Registration Expenses incurred in connection with any registration,
qualification or compliance pursuant to this SECTION 2 shall be borne by the
Company. All Selling Expenses incurred in connection with any registrations
hereunder, shall be borne by the holders of the securities so registered pro
rata on the basis of the number of shares so registered. The Company shall not,
however, be required to pay for expenses of any registration proceeding begun
pursuant to SECTION 2.2, the request of which has been subsequently withdrawn by
the Initiating Holders, High Ridge or the Marsh Parties, as appropriate, unless
(a) the withdrawal is based upon material adverse information concerning the
Company of which the Initiating Holders, High Ridge or the Marsh Parties, as
appropriate, were not aware at the time of such request, or (b) the Holders of a
majority of Registrable Securities, High Ridge or the Marsh Parties, as
appropriate, agree to forfeit their right to one General Demand, one High Ridge
Demand or one Marsh Parties Demand, as appropriate, pursuant to SECTION 2.2 in
which event such right shall be forfeited by all Holders, High Ridge or the
Marsh Parties, as appropriate. If the Holders are required to pay the
Registration Expenses, such expenses shall be borne by the holders of securities
(including Registrable Securities) requesting such registration in proportion to
the number of shares for which registration was requested.  If the Company is
required to pay the Registration Expenses of a withdrawn offering pursuant to
clause (a) above, then the Holders shall not forfeit their rights pursuant to
SECTION 2.2 to a General Demand, a High Ridge Demand or a Marsh Parties Demand,
as appropriate.

       2.6    OBLIGATIONS OF THE COMPANY.  Whenever required to effect the
registration of any Registrable Securities, the Company shall, as expeditiously
as reasonably possible:

              2.6.1. Prepare and file with the SEC a registration statement with
respect to such Registrable Securities and use all reasonable efforts to cause
such registration statement to become effective, and, upon the request of the
Holders of a majority of the Registrable Securities registered thereunder, keep
such registration statement effective for up to ninety (90) days or, if earlier,
until the Holder or Holders have completed the distribution related thereto.

              2.6.2. Prepare and file with the SEC such amendments and
supplements to such registration statement and the prospectus used in connection
with such registration statement as may be necessary to comply with the
provisions of the Securities Act with respect to the disposition of all
securities covered by such registration statement.

              2.6.3. Furnish to the Holders such number of copies of a
prospectus, including a preliminary prospectus, in conformity with the
requirements of the Securities Act, and such other documents as they may
reasonably request in order to facilitate the disposition of Registrable
Securities owned by them.

              2.6.4. Use all reasonable efforts to register and qualify the
securities covered by such registration statement under such other securities or
Blue Sky laws of such jurisdictions as shall be

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reasonably requested by the Holders, provided that the Company shall not be
required in connection therewith or as a condition thereto to qualify to do
business or to file a general consent to service of process in any such states
or jurisdictions.

              2.6.5. In the event of any underwritten public offering, enter
into and perform its obligations under an underwriting agreement, in usual and
customary form, with the managing underwriter(s) of such offering.  Each Holder
participating in such underwriting shall also enter into and perform its
obligations under such an agreement.

              2.6.6. Notify each Holder of Registrable Securities covered by
such registration statement at any time when a prospectus relating thereto is
required to be delivered under the Securities Act of the happening of any event
as a result of which the prospectus included in such registration statement, as
then in effect, includes an untrue statement of a material fact or omits to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading in the light of the circumstances then
existing.

              2.6.7. Furnish, at the request of a majority in interest of the
Holders participating in the registration, on the date that such Registrable
Securities are delivered to the underwriters for sale, if such securities are
being sold through underwriters, or, if such securities are not being sold
through underwriters, on the date that the registration statement with respect
to such securities becomes effective, (i) an opinion, dated as of such date, of
the counsel representing the Company for the purposes of such registration, in
form and substance as is customarily given to underwriters in an underwritten
public offering and reasonably satisfactory to a majority in interest of the
Holders requesting registration, addressed to the underwriters, if any, and to
the Holders requesting registration of Registrable Securities, and (ii) a letter
dated as of such date, from the independent certified public accountants of the
Company, in form and substance as is customarily given by independent certified
public accountants to underwriters in an underwritten public offering and
reasonably satisfactory to a majority in interest of the Holders requesting
registration, addressed to the underwriters, if any, and if permitted by
applicable accounting standards, to the Holders requesting registration of
Registrable Securities.

       2.7    TERMINATION OF REGISTRATION RIGHTS.  A Holder's registration
rights shall expire if (i) the Company has completed its Initial Offering and
has a class of securities registered under the Exchange Act, (ii) such Holder
(together with its affiliates, partners or members and former partners or
members) holds less than 2% of the Company's outstanding Common Stock (treating
all shares of convertible Preferred Stock on an as-if converted to Common Stock
basis), and (iii) all Registrable Securities held by such Holder (and all
affiliates, partners or members and former partners or members) may be sold
under Rule 144 during any ninety (90) day period (without giving effect to the
provisions of Rule 144(e)).

       2.8    DELAY OF REGISTRATION; FURNISHING INFORMATION.

              2.8.1. No Holder shall have any right to obtain or seek an
injunction restraining or otherwise delaying any such registration as the result
of any controversy that might arise with respect to the interpretation or
implementation of this SECTION  2.

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              2.8.2. It shall be a condition precedent to the obligations of the
Company to take any action pursuant to SECTION 2.2, 2.3 or 2.4 that the selling
Holders shall furnish to the Company such information regarding themselves, the
Registrable Securities held by them and the intended method of disposition of
such securities as shall be required to effect the registration of their
Registrable Securities.

       2.9    INDEMNIFICATION.  In the event any Registrable Securities are
included in a registration statement under SECTIONS 2.2, 2.3 or 2.4:

              2.9.1. To the extent permitted by law, the Company will indemnify
and hold harmless each Holder, the partners, members, officers, directors and
legal counsel (including Holder's own in-house counsel) of each Holder, any
underwriter (as defined in the Securities Act) for such Holder and each person,
if any, who controls such Holder or underwriter within the meaning of the
Securities Act or the Exchange Act, against any losses, claims, damages, or
liabilities (joint or several) to which they may become subject under the
Securities Act, the Exchange Act or other federal or state law, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out
of or are based upon any of the following statements, omissions or violations
(collectively a "VIOLATION") by the Company: (i) any untrue statement or alleged
untrue statement of a material fact contained in such registration statement,
including any preliminary prospectus or final prospectus contained therein or
any amendments or supplements thereto, (ii) the omission or alleged omission to
state therein a material fact required to be stated therein, or necessary to
make the statements therein not misleading, or (iii) any violation or alleged
violation by the Company of the Securities Act, the Exchange Act, any state
securities law or any rule or regulation promulgated under the Securities Act,
the Exchange Act or any state securities law in connection with the offering
covered by such registration statement; and the Company will reimburse each such
Holder, partner, member, officer or director, underwriter or controlling person
for any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action;
provided however, that the indemnity agreement contained in this SECTION 2.9.1
shall not apply to amounts paid in settlement of any such loss, claim, damage,
liability or action if such settlement is effected without the consent of the
Company, which consent shall not be unreasonably withheld, nor shall the Company
be liable in any such case for any such loss, claim, damage, liability or action
to the extent that it arises out of or is based upon a Violation which occurs in
reliance upon and in conformity with written information furnished expressly for
use in connection with such registration by such Holder, partner, member,
officer, director, underwriter or controlling person of such Holder.

              2.9.2. To the extent permitted by law, each Holder will, if
Registrable Securities held by such Holder are included in the securities as to
which such registration qualifications or compliance is being effected,
indemnify and hold harmless the Company, each of its directors, its officers,
and legal counsel and each person, if any, who controls the Company within the
meaning of the Securities Act, any underwriter and any other Holder selling
securities under such registration statement or any of such other Holder's
partners, members, directors or officers or any person who controls such Holder,
against any losses, claims, damages or liabilities (joint or several) to which
the Company or any such director, officer, controlling person, underwriter or
other such Holder, or partner, member, director, officer or controlling person
of such other Holder may become subject under the Securities Act, the Exchange
Act or other federal or state law, insofar as such losses, claims, damages or
liabilities (or actions in respect thereto) arise out of or are based upon any

                                         -10-

<PAGE>

Violation, in each case to the extent (and only to the extent) that such
Violation occurs in reliance upon and in conformity with written information
furnished by such Holder under an instrument duly executed by such Holder and
stated to be specifically for use in connection with such registration; and each
such Holder will reimburse any legal or other expenses reasonably incurred by
the Company or any such director, officer, controlling person, underwriter or
other Holder, or partner, member, officer, director or controlling person of
such other Holder in connection with investigating or defending any such loss,
claim, damage, liability or action if it is judicially determined that there was
such a Violation; provided, however, that the indemnity agreement contained in
this SECTION 2.9.2 shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability or action if such settlement is effected without
the consent of the Holder, which consent shall not be unreasonably withheld;
provided further, that in no event shall any indemnity under this SECTION 2.9
exceed the net proceeds from the offering received by such Holder.

              2.9.3. Promptly after receipt by an indemnified party under this
SECTION 2.9 of notice of the commencement of any action (including any
governmental action), such indemnified party will, if a claim in respect thereof
is to be made against any indemnifying party under this SECTION 2.9, deliver to
the indemnifying party a written notice of the commencement thereof and the
indemnifying party shall have the right to participate in, and, to the extent
the indemnifying party so desires, jointly with any other indemnifying party
similarly noticed, to assume the defense thereof with counsel mutually
satisfactory to the parties; provided, however, that an indemnified party shall
have the right to retain its own counsel, with the fees and expenses to be paid
by the indemnifying party if the indemnified party shall have reasonably
concluded that representation of such indemnified party by the counsel retained
by the indemnifying party would be inappropriate due to actual or potential
differing interests between such indemnified party and any other party
represented by such counsel in such proceeding, in which case the fees and
expenses of counsel shall be at the expense of the indemnifying party.  The
failure to deliver written notice to the indemnifying party within a reasonable
time of the commencement of any such action, if materially prejudicial to its
ability to defend such action, shall relieve such indemnifying party of any
liability to the indemnified party under this SECTION 2.9 to the extent that
such indemnified party is damaged by such failure.  Any failure so to deliver
such notice to the indemnifying party will not relieve such indemnifying party
of any liability that it may have to any indemnified party otherwise than under
this SECTION 2.9.

              2.9.4. If the indemnification provided for in this SECTION 2.9 is
held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any losses, claims, damages or liabilities referred to
herein, the indemnifying party, in lieu of indemnifying such indemnified party
thereunder, shall, to the extent permitted by applicable law contribute to the
amount paid or payable by such indemnified party as a result of such loss,
claim, damage or liability in such proportion as is appropriate to reflect the
relative fault of the indemnifying party on the one hand and of the indemnified
party on the other in connection with the Violation(s) that resulted in such
loss, claim, damage or liability, as well as any other relevant equitable
considerations.  The relative fault of the indemnifying party and of the
indemnified party shall be determined by a court of law by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact
or the omission to state a material fact relates to information supplied by the
indemnifying party or by the indemnified party and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission; provided, that in no event shall any contribution by a
Holder hereunder exceed the proceeds from the offering received by such Holder.

                                         -11-

<PAGE>

              2.9.5. The obligations of the Company and Holders under this
SECTION 2.9 shall survive completion of any offering of Registrable Securities
in a registration statement and the termination of this Agreement.  No
Indemnifying Party, in the defense of any such claim or litigation, shall,
except with the consent of each Indemnified Party, consent to entry of any
judgment or enter into any settlement which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such Indemnified Party
of a release from all liability in respect to such claim or litigation.  In the
event any offering of Registrable Securities is underwritten, and the
underwriting agreement provides for indemnification and/or contribution by the
Company and the Holders offering securities thereunder, the indemnification
and/or contribution obligations of the Company and the Holders hereunder shall
in no event exceed the obligations of the parties set forth in such underwriting
agreement.

       2.10   ASSIGNMENT OF REGISTRATION RIGHTS.  The rights to cause the
Company to register Registrable Securities pursuant to this SECTION 2 may be
assigned by a Holder to a transferee or assignee of Registrable Securities that
acquires at least thirty-two thousand (32,000) shares of Registrable Securities
(as adjusted for stock splits and combinations); provided, however, (A) the
transferor shall, within ten (10) days after such transfer, furnish to the
Company written notice of the name and address of such transferee or assignee
and the securities with respect to which such registration rights are being
assigned and (B) such transferee shall agree to be subject to all restrictions
set forth in this Agreement.

       2.11   AMENDMENT OF REGISTRATION RIGHTS.  Any provision of this SECTION 2
may be amended and the observance thereof may be waived (either generally or in
a particular instance and either retroactively or prospectively), only with the
written consent of the Company and the Holders of more than fifty percent (50%)
of the outstanding Registrable Securities; provided, however, that any amendment
or waiver which would discriminate among, or treat differently, Holders of the
same class of Registrable Securities or affect the rights of High Ridge in
connection with a High Ridge Demand or affect the rights of the Marsh Parties in
connection with a Marsh Parties Demand, shall require the written consent of the
parties so affected.  Subject to the provisions of Section 2.12 hereof, the
Company may include purchasers of other series of preferred stock of the Company
as Investors hereunder, without the prior consent of the Investors.  Any
amendment or waiver effected in accordance with this SECTION 2.11 shall be
binding upon each Holder and the Company.  By acceptance of any benefits under
this SECTION 2, Holders of Registrable Securities hereby agree to be bound by
the provisions hereunder.

       2.12   LIMITATION ON SUBSEQUENT REGISTRATION RIGHTS.  After the date of
this Agreement, the Company shall not, without the prior written consent of the
Holders of more than fifty percent (50%) of the Registrable Securities, High
Ridge or the Marsh Parties, as appropriate, enter into any agreement with any
holder or prospective holder of any securities of the Company that would grant
such holder registration rights that are not subordinate to those granted to the
Holders, High Ridge or the Marsh Parties, as appropriate, hereunder.

       2.13   "MARKET STAND-OFF" AGREEMENT.  If requested by the Company and the
representative of the underwriters of Common Stock (or other securities) of the
Company, each Holder shall not sell or otherwise transfer or dispose of any
shares of Common Stock (or other securities) of the Company held by such Holder
(other than those included in the registration) for a period specified by the
representative of the underwriters not to exceed one hundred eighty (180)

                                         -12-

<PAGE>

days following the effective date of a registration statement of the Company
filed under the Securities Act, provided that:

              1.  such agreement shall apply only to the Company's Initial
Offering; and

              2.  all officers and directors of the Company and holders of at
least one percent (1%) of the Company's voting securities enter into similar
agreements.

       The obligations described in this SECTION 2.13 shall not apply to a
registration relating solely to employee benefit plans on Form S-1 or Form S-8
or similar forms that may be promulgated in the future, or a registration
relating solely to a Commission Rule 145 transaction on Form S-4 or similar
forms that may be promulgated in the future.  The Company may impose
stop-transfer instructions with respect to the shares of Common Stock (or other
securities) subject to the foregoing restriction until the end of said one
hundred eighty (180) day period.

       2.14   RULE 144 REPORTING.  With a view to making available to the
Holders the benefits of certain rules and regulations of the SEC which may
permit the sale of the Registrable Securities to the public without
registration, the Company agrees to use its best efforts to:

              A.  Make and keep public information available, as those terms are
understood and defined in SEC Rule 144 or any similar or analogous rule
promulgated under the Securities Act, at all times after the effective date of
the first registration filed by the Company for an offering of its securities to
the general public;

              B.  File with the SEC, in a timely manner, all reports and other
documents required of the Company under the Exchange Act;

       C.  So long as a Holder owns any Registrable Securities, furnish to such
Holder forthwith upon request: a written statement by the Company as to its
compliance with the reporting requirements of said Rule 144 of the Securities
Act, and of the Exchange Act (at any time after it has become subject to such
reporting requirements); a copy of the most recent annual or quarterly report of
the Company; and such other reports and documents as a Holder may reasonably
request in availing itself of any rule or regulation of the SEC allowing it to
sell any such securities without registration.

3.     MISCELLANEOUS

       3.1    GOVERNING LAW.  This Agreement is to be construed in accordance
with and governed by the internal laws of the State of California (as permitted
by Section 1646.5 of the California Civil Code or any similar successor
provision) without giving effect to any choice of law rule that would cause the
application of the laws of any jurisdiction other than the internal laws of the
State of California to the rights and duties of the parties, except to the
extent that United States federal law preempts California law, in which case
United States federal law shall apply, without reference to conflict of law
principles.

       3.2    SURVIVAL.  The representations, warranties, covenants, and
agreements made herein shall survive any investigation made by any Holder and
the closing of the transactions contemplated hereby.  All statements as to
factual matters contained in any certificate or other instrument

                                         -13-

<PAGE>

delivered by or on behalf of the Company pursuant hereto in connection with the
transactions contemplated hereby shall be deemed to be representations and
warranties by the Company hereunder solely as of the date of such certificate or
instrument.

       3.3    SUCCESSORS AND ASSIGNS.  Except as otherwise expressly provided
herein, including without limitation Sections 2.10 and 3.6.3, the provisions
hereof shall inure to the benefit of, and be binding upon, the successors,
assigns, heirs, executors, and administrators of the parties hereto and shall
inure to the benefit of and be enforceable by each person who shall be a holder
of Registrable Securities from time to time; provided, however, that prior to
the receipt by the Company of adequate written notice of the transfer of any
Registrable Securities specifying the full name and address of the transferee,
the Company may deem and treat the person listed as the holder of such shares in
its records as the absolute owner and holder of such shares for all purposes,
including the payment of dividends or any redemption price.

       3.4    ENTIRE AGREEMENT.  This Agreement, the Exhibits and Schedules
hereto, and the other documents delivered pursuant hereto constitute the full
and entire understanding and agreement between the parties with regard to the
subjects hereof and no party shall be liable or bound to any other in any manner
by any representations, warranties, covenants and agreements except as
specifically set forth herein and therein.

       3.5    SEVERABILITY.  In case any provision of the Agreement shall be
invalid, illegal, or unenforceable, the validity, legality, and enforceability
of the remaining provisions shall not in any way be affected or impaired
thereby.

       3.6    AMENDMENT AND WAIVER.

              3.6.1. Except as otherwise expressly provided, this Agreement may
be amended or modified only upon the written consent of the Company and the
holders of more than fifty percent (50%) of the Registrable Securities.

              3.6.2. Except as otherwise expressly provided, the obligations of
the Company and the rights of the Holders under this Agreement may be waived
only with the written consent of the holders of more than fifty percent (50%) of
the Registrable Securities.

              3.6.3. Notwithstanding the foregoing, this Agreement may be
amended only with the written consent of the Company to include additional
purchasers of Shares as "Investors," "Holders" and parties hereto.

       3.7    DELAYS OR OMISSIONS.  It is agreed that no delay or omission to
exercise any right, power, or remedy accruing to any Holder, upon any breach,
default, or noncompliance of the Company under this Agreement shall impair any
such right, power, or remedy, nor shall it be construed to be a waiver of any
such breach, default, or noncompliance, or any acquiescence therein, or of any
similar breach, default, or noncompliance thereafter occurring.  It is further
agreed that any waiver, permit, consent, or approval of any kind or character on
any Holder's part of any breach, default, or noncompliance under the Agreement
or any waiver on such Holder's part of any provisions or conditions of this
Agreement must be in writing and shall be effective only to the extent
specifically set forth in such writing.  All remedies, either under this
Agreement, by law, or otherwise afforded to Holders, shall be cumulative and not
alternative.

                                         -14-
<PAGE>

       3.8    NOTICES.  All notices required or pertained hereunder shall be in
writing and shall be deemed effectively given: (i) upon personal delivery to the
party to be notified, (ii) when sent by confirmed telex or facsimile if sent
during normal business hours of the recipient; if not, then on the next business
day, (iii) five (5) days after having been sent by registered or certified mail,
return receipt requested, postage prepaid, or (iv) one (1) day after deposit
with a nationally recognized overnight courier, specifying next day delivery,
with written verification of receipt.  All communications shall be sent to the
party to be notified at the address as set forth on the signature page hereof or
at such other address as such party may designate by ten (10) days advance
written notice to the other parties hereto.

       3.9    ATTORNEYS' FEES.  In the event that any dispute among the parties
to this Agreement should result in litigation, the prevailing party in such
dispute shall be entitled to recover from the losing party all fees, costs and
expenses of enforcing any right of such prevailing party under or with respect
to this Agreement, including without limitation, such reasonable fees and
expenses of attorneys and accountants, which shall include, without limitation,
all fees, costs and expenses of appeals.

       3.10   TITLES AND SUBTITLES.  The titles of the sections and subsections
of this Agreement are for convenience of reference only and are not to be
considered in construing this Agreement.

       3.11   COUNTERPARTS.  This Agreement may be executed in any number of
counterparts, each of which shall be an original, but all of which together
shall constitute one instrument.

                                        * * *

                                         -15-

<PAGE>

       IN WITNESS WHEREOF, the parties hereto have executed this Amended and
Restated Registration Rights Agreement as of the date set forth in the first
paragraph hereof.

COMPANY:

SELECTQUOTE, a Delaware corporation

By:
   ------------------------------
     Steven H. Gerber, President

INVESTORS:

AIG LIFE INSURANCE COMPANY, a         ALLSTATE LIFE INSURANCE COMPANY, an
Delaware corporation                  Illinois insurance company

By:                                   By:
   ------------------------------        ------------------------------

Title:                                Title:
      ----------------------------          ----------------------------

SECURITY CONNECTICUT LIFE INSURANCE   NORTH AMERICAN COMPANY FOR LIFE AND
COMPANY, a Connecticut corporation    HEALTH INSURANCE, an Illinois
                                      corporation

By:                                   By:
   ------------------------------        ------------------------------

Title:                                Title:
      ----------------------------          ----------------------------

HIGH RIDGE CAPITAL PARTNERS II, L.P.  PROTECTIVE LIFE INSURANCE COMPANY

By:                                   By:
   ------------------------------        ------------------------------

Title:                                Title:
      ----------------------------          ----------------------------

PROTECTIVE LIFE CORPORATION           MARSH & MCLENNAN CAPITAL TECHNOLOGY
                                      VENTURE FUND, L.P.

By:                                   By:
   ------------------------------        ------------------------------

Title:                                Title:
      ----------------------------          ----------------------------

                                         -16-

<PAGE>

MARSH & MCLENNAN CAPITAL TECHNOLOGY   TRIDENT II, L.P.
PROFESSIONALS VENTURE FUND, L.P.

By:                                   By:
   ------------------------------        ------------------------------

Title:                                Title:
      ----------------------------          ----------------------------

MARSH & MCLENNAN EMPLOYEES'           MARSH & MCLENNAN CAPITAL PROFESSIONALS
SECURITIES COMPANY, L.P.              FUND, L.P.

By:                                   By:
   ------------------------------        ------------------------------

Title:                                Title:
      ----------------------------          ----------------------------

MCCUTCHEN, DOYLE, BROWN &ENERSEN,
LLP

By:
   ------------------------------

Title:
      ----------------------------

                                         -17-

<PAGE>

                                     EXHIBIT A

                                     INVESTORS

AIG Life Insurance Company

Allstate Life Insurance Company

High Ridge Capital Partners II, L.P.

Marsh & McLennan Capital Professionals Fund, L.P.

Marsh & McLennan Capital Technology Professionals Venture Fund, L.P.

Marsh & McLennan Capital Technology Venture Fund, L.P.

Marsh & McLennan Employees' Securities Company, L.P.

McCutchen, Doyle, Brown & Enersen, LLP

North American Company for Life and Health Insurance

Protective Life Insurance Company

Protective Life Corporation

Security Connecticut Life Insurance Company

Trident II, L.P.

                                   -18-<PAGE>

[EXECUTION COPY]

                              AMENDED AND RESTATED

                          DEBENTURE PURCHASE AGREEMENT

                   (12% SENIOR SECURED CONVERTIBLE DEBENTURES)

         THIS AMENDED AND RESTATED DEBENTURE PURCHASE AGREEMENT (this
"Agreement") is made and entered into as of December 27, 1999 by and among
SECURITY CONNECTICUT LIFE INSURANCE COMPANY, a Connecticut corporation
("Security Connecticut"), PROTECTIVE LIFE INSURANCE COMPANY, a Tennessee
corporation ("Protective"), NORTH AMERICAN COMPANY FOR LIFE AND HEALTH
INSURANCE, an Illinois corporation ("North American", and together with
Security Connecticut and Protective, collectively, the "Purchasers" and
individually, a "Purchaser"), and SELECTQUOTE INC., a Delaware corporation
("SelectQuote").

                                    RECITALS

         WHEREAS, Purchasers, have heretofore purchased from SelectTech, a
Nevada corporation ("SelectTech"), 12% Senior Secured Convertible Debentures
(the "Debentures") in the aggregate principal amount of Two Million Five
Hundred Thousand Dollars ($2,500,000), pursuant to that certain Debenture
Purchase Agreement between the Purchasers, Protective and SelectTech, dated
October 15, 1998 (the "Debenture Purchase Agreement"); and

         WHEREAS, each of Security Connecticut and North American hold
Debentures with an outstanding principal balance of $950,000, and Protective
holds Debentures with an Outstanding principal balance of $600,000, or
$2,500,000 in the aggregate; and .

         WHEREAS, pursuant to the terms and conditions of that certain
Amended and Restated Agreement and Restated Plan of Reorganization (the "Plan
of Reorganization"), by and among SelectQuote Insurance Services, a
California corporation ("SQIS"), SelectTech, SelectQuote, and SelectQuote
Acquisition Sub, a California corporation and wholly owned subsidiary of
SelectQuote ("Sub"), SelectTech has merged with and into SQIS, with SQIS
assuming, by operation of law, the obligations of SelectTech with respect to
the Debentures and the other documents and agreements delivered in connection
therewith (the "Debenture Documents"); and

         WHEREAS, pursuant to the terms and conditions of the Plan of
Reorganization, Sub has merged with and into SQIS, with the result being that
SQIS is now a wholly owned subsidiary of SelectQuote; and

         WHEREAS, pursuant to the terms and conditions of the Plan of
Reorganization, the obligations of SQIS with respect to the Debentures and
the Debenture Documents have been assigned to, and assumed by, SelectQuote;
and

<PAGE>

         WHEREAS, SelectQuote and Purchasers have agreed to amend and restate
the Debenture Purchase Agreement as set forth in this Agreement.

                                    AGREEMENT

         NOW, THEREFORE, in consideration of the foregoing recitals and of
the mutual covenants, agreements, undertakings, representations and
warranties contained herein, each of the Purchasers and SelectQuote hereby
agree to amend and restate the Debenture Purchase Agreement in its entirety
as follows:

                                    ARTICLE 1

                       RULES OF CONSTRUCTION; DEFINITIONS

         SECTION 1.1  RULES OF CONSTRUCTION.  For all purposes of this
Agreement, except as otherwise expressly provided herein:

         (a) The terms defined in this Article, whenever used in this
Agreement (including in the Schedules), shall have the respective meanings
indicated below for all purposes of this Agreement. Singular terms shall
include the plural, as well as the singular, and vice versa.

         (b) All accounting terms not otherwise defined in this Article have
the meaning assigned to them, and all computations herein provided for shall
be made, in accordance with generally accepted accounting principles. All
references to generally accepted accounting principles refer to such
principles as they exist at the date thereof.

         (c) All references herein to a Section, Article or Schedule are to a
Section, Article or Schedule of or to this Agreement, unless otherwise
indicated.

         (d) The terms "herein," "hereof" and "hereunder" and other words of
similar import refer to this Agreement as a whole and not to any particular
article, section or other subdivision.

         SECTION 1.2 DEFINITIONS . The following terms shall have the
following meanings for all purposes of this Agreement:

         AFFILIATE: of a Person means a Person that directly or through one
or more intermediaries controls, is controlled by or is under common control
with, the first Person. "Control" (including the terms "controlled by" and
"under common control with") means the possession, directly or indirectly, of
the power to direct or cause the direction of the management policies of a
Person, whether through the ownership of voting securities, by contract or
credit arrangement, by trustee or executor, or otherwise.

<PAGE>

         APPLICABLE LAW: all applicable provisions of all (i) constitutions,
treaties, statutes, laws (including the common law), rules, regulations,
ordinances, codes or orders of any Governmental Body, (ii) Governmental
Approvals and (iii) orders, decisions, injunctions, judgments, awards and
decrees of or agreements with any Governmental Body.

         AUTHORIZED REPRESENTATIVE:  with respect to SelectQuote, its
President, or such other officer of SelectQuote as may be designated in
writing to each of the Purchasers by the Board of Directors of SelectQuote.

         COMMON STOCK:  the common stock, $.01 par value, of SelectQuote.

         CONSENT: any consent, approval, authorization, waiver, permit,
grant, franchise, concession, agreement, license, exemption or order of,
registration, certificate, declaration or filing with, or report or notice
to, any Person, including but not limited to any Governmental Body.

         CONTRACT:  any agreement, contract, obligation, promise or
undertaking (whether written or oral and whether express or implied) that is
legally binding.

         CONVERSION PRICE:  as defined in SECTION 7.1.

         CONVERTIBLE SECURITIES:  as defined in SECTION 9.1.

         CORPORATE TRANSACTION: (a) sale, transfer or disposition of all or
substantially all of SelectQuote's properties or assets; (b) a merger or
consolidation in which SelectQuote is not the surviving entity, except for a
transaction the principal purpose of which is to change the state of
SelectQuote's incorporation; or (c) any reverse merger in which SelectQuote
is the surviving entity and in which securities possessing more than fifty
percent (50%) of the total combined voting power of SelectQuote's outstanding
securities are transferred to a holder or holders different from those who
held such securities immediately prior to such merger.

         DEBENTURES:  as defined in the Recitals of this Agreement.

         DEBENTURE BALANCE:  as defined in SECTION 2.1.

         EVENT:  as defined in SECTION 7.5.

         EVENT NOTICE:  as defined in SECTION 7.5.

         EVENT OF DEFAULT or EVENTS OF DEFAULT:  as defined in SECTION 5.1.

         FINANCIAL STATEMENTS:  as defined in SECTION 3.3.
         GAAP:  generally accepted accounting principles as in effect in the
         United States.

         GOVERNMENTAL APPROVAL:  any Consent of, with or to any Governmental
         Body.

<PAGE>

         GOVERNMENTAL BODY: any nation or government, any state or other
political subdivision thereof, any entity exercising executive, legislative,
judicial, regulatory or administrative functions of or pertaining to
government, including without limitation any governmental authority, agency,
department, board, commission or instrumentality of the United States, any
State of the United States or any political subdivision thereof, and any
tribunal or arbitrator(s) of competent jurisdiction, and any self-regulatory
organization.

         INITIAL OFFERING:  as defined in SECTION 6.2.

         KEY EMPLOYEES:  shall include Steve Gerber, Charan Singh, David
Paulsen and Mike Feroah.

         Knowledge or knowledge:  an individual will be deemed to have
knowledge of a particular fact or other matter if:

         (a)      such individual is actually aware of such fact or other
matter; or

         (b) a prudent individual could be expected to discover or otherwise
become aware of such fact or other matter in the course of conducting a
reasonably comprehensive investigation concerning the existence of such fact
or other matter; PROVIDED, HOWEVER, such reasonably comprehensive
investigation shall not require a patent search.

         A Person (other than an individual) will be deemed to have Knowledge
of a particular fact or other matter if any individual who is serving, or who
has at any time served, as a director, officer, partner, executor or trustee
of such Persons (or in any similar capacity) has, or at any time had,
Knowledge of such fact or other matter.

         LIEN: any mortgage, pledge, hypothecation, right of others, claim,
security interest, encumbrance, lease, sublease, license, occupancy
agreement, adverse claim or interest, easement, covenant, encroachment,
burden, title defect, title retention agreement, voting trust agreement,
interest, equity, option, lien, right of first refusal, charge or other
restrictions or limitations of any nature whatsoever, including but not
limited to such as may arise under any Contracts.

         MAJORITY-IN-INTEREST OF PURCHASERS: the Purchasers holding a
majority-in-interest of the value of the outstanding Debenture Balances.

         MATURITY DATE:  as defined in SECTION 2.1.

         NOTICE OF CONVERSION:  as defined in Section 7.2.

         PERSON:  any natural person, firm, partnership, association,
corporation, company, trust, business trust, Governmental Body or other
entity.

         PLEDGE AGREEMENT:  as defined in SECTION 2.2.

<PAGE>

         REGISTRABLE SECURITIES:  all shares of Common Stock or shares of
Common Stock issuable upon conversion of convertible securities held by
Purchasers from time to time.

         REGISTRATION NOTICE:  as defined in SECTION 7.2.

         REGISTRATION STATEMENT: shall mean any registration statement under
the Securities Act which covers Common Stock, including the Prospectus,
amendments and supplements to such Registration Statement post-effective
amendments, and all exhibits and all material incorporated by reference in
such Registration Statement.

         RESTRICTED STOCK:  as defined in SECTION 8.1.

         SALE NOTICE:  as defined in SECTION 9.1.

         SEC:  the Securities and Exchange Commission.

         SECURITIES:  as defined in SECTION 4.3.

         SECURITIES ACT:  the Securities Act of 1933, as amended.

         SELLING STOCKHOLDER:  as defined in SECTION 9.1.

         SUBSIDIARY: with respect to SelectQuote, any corporation or other
Person of which securities or other interests are held by SelectQuote or one
or more of its Subsidiaries, which securities or other interests (a) provide
SelectQuote sufficient power to elect a majority of that corporation's or
other Person's board of directors or similar governing body, or (b) otherwise
provide SelectQuote sufficient power to direct the business and policies of
that corporation or other Person (other than securities or other interests
having such power only upon the happening of a contingency that has not
occurred).

         TAKE-ALONG NOTICE:  as defined in SECTION 9.1.

         TAX: any federal, state, provincial, local, foreign or other income,
alternative, minimum, accumulated earnings, personal holding company,
franchise, capital stock, net worth, capital, profits, windfall profits,
gross receipts, value added, sales, use, goods and services, excise, customs,
duties, transfer, conveyance, mortgage, registration, stamp, documentary,
recording, premium, severance, environmental (including taxes under Section
59A of the Code), real property, personal property, ad valorem, intangibles,
rent, occupancy, license, occupational, employment, unemployment, insurance,
social security, disability, workers' compensation, payroll, health care,
withholding, estimated or other similar tax, duty or other governmental
charge or assessment or deficiencies thereof (including all interest and
penalties thereon and additions thereto whether disputed or not).

<PAGE>

                                    ARTICLE 2

                                   DEBENTURES

         SECTION 2.1  INTEREST ON DEBENTURES; CONVERSION; REPAYMENT .

         (a) Interest on the outstanding principal balance of the Debentures
and all accrued and unpaid interest thereon shall accrue from the original
issue date at a rate of twelve percent (12%) per annum until payment in full
of all amounts due under the Debentures.

         (b) From and after the date hereof and continuing so long as any of
the Debentures remain outstanding, each Purchaser shall have the right, in
its sole discretion, to convert any or all of the outstanding Debentures
owned by it into shares of Common Stock in accordance with the provisions of
ARTICLE 7 hereof.

         (c) Subject to each Purchaser's conversion rights set forth in
SECTION 2.1(b) above, the outstanding principal balance of the Debentures,
all accrued and unpaid interest thereon and any other fees or charges with
respect thereto (collectively, the "Debenture Balance"), shall be repaid to
Purchasers in twenty (20) consecutive quarterly installments, payable in
arrears on the last day of each December, March, June and September in each
year, beginning on December 31, 1998,1 and continuing to and including
September 30, 2003 (the "Maturity Date") as follows:

                  (i) payments for the first eight (8) quarterly installments,
         beginning December 31, 1998 and continuing to and including September
         30, 2000, shall be interest only; and

                  (ii) payments for the remaining twelve (12) quarterly
         installments shall include principal and interest, as follows:

                           (A) principal shall be payable in eleven (11)
                  consecutive quarterly principal installments in an amount
                  equal to the Debenture Balance as of October 1, 2000 divided
                  by twelve (12), plus

                           (B) interest on the outstanding Debenture Balance,
                  beginning December 31, 2000 and continuing to and including
                  the Maturity Date.

         The last installment shall be in the amount of the entire Debenture
         Balance then remaining unpaid, and shall be due and payable on the
         Maturity Date.

--------------------
   1   SelectTech has made each quarterly payment due on the outstanding
Debentures held by the Purchasers through September 30, 1999, with the next
quarterly payment date being December 31, 1999.

<PAGE>

                  (iii) Three (3) business days prior to the date of any payment
         due pursuant to this Section 2.1, SelectQuote shall transmit a
         facsimile to each Purchaser setting forth the amount of principal and
         interest, including the computations related thereto, to be included in
         such payments.

         SECTION 2.2 SECURITY AGREEMENT. As security for the full and prompt
payment when due of each and every liability of SelectQuote to pay amounts
owed under the Debentures and the fulfillment of all other obligations of
SelectQuote to Purchasers under this Agreement, SelectQuote shall cause SQIS
to affirm the Security Agreement between SelectTech and the Purchasers dated
October 15, 1998 (the "Security Agreement") and hereby agrees that it shall
be collateralized by all of the assets of SQIS, subject to the Purchasers
agreement to subordinate their lien and rights to repayment to the liens and
obligations of SQIS to LaSalle Bank National Association ("LaSalle") upon
such terms and conditions as shall be mutually agreed upon by LaSalle and
Purchasers at such time as it extends a loan to SQIS.

         SECTION 2.3 DELIVERIES BY SELECTQUOTE. As a condition precedent to
the effectiveness of this Agreement, SelectQuote shall deliver or cause to be
delivered to Purchaser the following documents:

                  (a)      copies of minutes of the board of directors of
         SelectQuote authorizing this Agreement and the transactions provided
         for herein;

                  (b) duly executed replacement certificates in the Form of
         EXHIBIT B attached hereto, in the name of SelectQuote evidencing the
         Debentures heretofore issued to Purchasers;

                  (c)      certified copy of SelectQuote's Articles of
         Incorporation;

                  (d) an Officer's Certificate, duly executed by the President
                  of SelectQuote, certifying that (A) SelectQuote has performed
                  all agreements on its part required to be performed under this
                  Agreement, and no breaches or defaults thereunder have
                  occurred; (B) all representations and warranties contained in
                  Article 3 shall (except as affected by the transactions
                  provided for herein) are true on and as of the date hereof;
                  and (C) no Event of Default or Default shall have occurred and
                  be continuing.

                  (e)      good standing certificates for SelectQuote from the
         Secretary of State of Delaware; and

                  (f) such other instruments as may be reasonably required to
         effect the purposes hereof.

<PAGE>

         SECTION 2.4 TRANSFER TAXES. All transfer taxes (if any) arising in
connection with the consummation of the transactions referred to in SECTIONS
2.1 THROUGH 2.3 above shall be paid by SelectQuote.

                                    ARTICLE 3

                  REPRESENTATIONS AND WARRANTIES OF SELECTQUOTE

         SelectQuote and SQIS hereby represent and warrant to Purchasers as
follows:

         SECTION 3.1  ORGANIZATION AND AUTHORITY; CAPITALIZATION.

         (a) SelectQuote is a corporation duly organized, validly existing
and in good standing under the laws of the State of Delaware, and it has all
requisite power and authority to own or hold under lease the property it
purports to own or hold under lease, to transact the business it currently
transacts and as currently proposed to be transacted, to execute and deliver
this Agreement, and to perform the provisions hereof and thereof; and
SelectQuote has all requisite power and authority to deliver the Debentures
in accordance with the provisions of this Agreement. SelectQuote is duly
qualified as a foreign corporation and is in good standing in each
jurisdiction in which the character of the properties owned or held under
lease by it or the nature of the business transacted by it requires such
qualification and where the failure to qualify as a foreign corporation would
have a material adverse impact on it.

         (b) The authorized, issued and outstanding shares of capital stock
of SelectQuote are set forth on SCHEDULE 3.1(b). Except as set forth on
SCHEDULE 3.1(b), no options, warrants or other rights to purchase or
otherwise acquire any unissued shares of Common Stock are outstanding on the
date of this Agreement or will be outstanding on the date hereof. SCHEDULE
3.1(b) also contains a list of all of the stockholders of SelectQuote,
showing the number of shares owned by each such holder.

         SECTION 3.2 SUBSIDIARIES. SCHEDULE 3.2 hereto sets forth a complete
list of the Subsidiaries of SelectQuote, together with a list of the
stockholders of each Subsidiary and their respective ownership interest
therein.

         SECTION 3.3 FINANCIAL STATEMENTS. Attached as SCHEDULE 3.3 are
copies of SelectTech's and SQIS's unaudited balance sheets as of June 30,
1999 and the related consolidated statements of income, changes in
shareholders' equity and cash flow for the year then ended, and an interim
balance sheet as of June 30, 1999 and the related consolidated statements of
income, changes in shareholders' equity and cash flow for the three month
period beginning July 1, 1999 and ending September 30, 1999, and the balance
sheet of SelectQuote as of September 30, 1999, certified by the respective
Presidents and Chief Financial Officers of SelectTech, SQIS and SelectQuote
(the "Financial Statements"). The Financial Statements fairly present the
respective financial positions of SelectTech, SQIS and SelectQuote as of
September 30, 1999 and the results of their operations for the periods
covered by said statements of income, changes in shareholders' equity

<PAGE>

and changes in cash flow, and have been prepared in accordance with GAAP
consistently applied throughout the periods involved. There are no material
liabilities, contingent or otherwise, of SelectTech, SQIS or SelectQuote as
of September 30, 1999 not reflected in said balance sheets as of said date.
Since September 30, 1999, there have been no changes in the assets,
liabilities or financial positions of SelectTech, SQIS or SelectQuote from
that set forth in said balance sheets as of said date, other than changes in
the ordinary course of business which have not, either individually or in the
aggregate, been materially adverse.

         SECTION 3.4 COMPLIANCE WITH OTHER INSTRUMENTS. The consummation of
the transactions provided for in this Agreement and the performance of the
terms and provisions of this Agreement will not result in any breach of, or
constitute a default under, or result in the creation of any lien in respect
of any property of SelectQuote or any Subsidiary under any indenture,
mortgage, deed of trust, bank loan or credit agreement or other financing
agreement, corporate charter, by-laws or other agreement or instrument to
which SelectQuote or its Subsidiaries are a party or by which SelectQuote or
its Subsidiaries or any of their properties may be bound or affected.

         SECTION 3.5 GOVERNMENTAL AUTHORIZATIONS, ETC. No consent, approval
or authorization of, or registration, filing or declaration with, any
Governmental Body is required for the validity of the execution and delivery
or for the performance by SelectQuote or its Subsidiaries of any of the
transactions provided for in this Agreement, except as may be required by
state blue sky laws.

         SECTION 3.6 LITIGATION; OBSERVANCE OF STATUTES, REGULATIONS AND
ORDERS. There are no actions, suits or proceedings pending or, to the
Knowledge of SelectQuote or its Subsidiaries, threatened against or affecting
SelectQuote or its Subsidiaries or any of their properties in any court or
before any arbitrator of any kind or before or by any Governmental Body.
Neither SelectQuote nor its Subsidiaries are in default under any order,
writ, injunction, decree or judgment of any court, arbitrator or Governmental
Body. To SelectQuote's Knowledge, neither SelectQuote nor its Subsidiaries
are in violation of any Applicable Law.

         SECTION 3.7 NO MISLEADING INFORMATION. To the Knowledge of
SelectQuote, neither this Agreement nor any other document, certificate or
written statement furnished to Purchasers by or on behalf of SelectQuote in
connection with the transactions contemplated hereby contains any untrue
statement of a material fact or omits to state a material fact necessary in
order to make the statements contained herein or therein not misleading; and
there is no fact known to SelectQuote that SelectQuote has not disclosed to
Purchasers that materially adversely affects or, so far as SelectQuote can
reasonably foresee, will materially adversely affect the properties, or
financial or other condition of SelectQuote or the ability of SelectQuote to
perform its obligations hereunder and under the other documents delivered in
connection herewith. This representation does not apply to any draft
registration statements provided to the Purchasers at their request; all of
the contents of which are disclaimed by SelectQuote for purposes of this
Agreement.

<PAGE>

                               ARTICLE 4COVENANTS

         Unless otherwise approved in writing by a Majority-in-Interest of
the Purchasers, SelectQuote and SQIS covenant and agree that so long as any
Debentures shall be outstanding:

         SECTION 4.1 PAYMENT OF PRINCIPAL AND INTEREST. SelectQuote will duly
and punctually pay the principal and interest on the Debentures in accordance
with the terms thereof and in this Agreement.

         SECTION 4.2 BOOKS AND RECORDS. SelectQuote and its Subsidiaries
will keep proper books of record and account and set aside appropriate
reserves, all in accordance with GAAP.

         SECTION 4.3 PAYMENT OF TAXES; CORPORATE EXISTENCE; MAINTENANCE OF
PROPERTIES; COMPLIANCE WITH LAWS. SelectQuote and each of its Subsidiaries
shall:

         (a) pay and discharge or cause to be paid and discharged all Taxes,
assessments and governmental charges or levies imposed upon it or upon its
income or profits or upon any of its property when due, as well as all lawful
claims for labor, materials and supplies which, if unpaid, might by
Applicable Law become a Lien upon its property; PROVIDED, HOWEVER, that
SelectQuote and its Subsidiaries shall not be required to pay any such Tax,
assessment, charge, levy or claim if the amount, applicability or validity
thereof shall currently be contested in good faith by appropriate
proceedings, and if a reserve or other appropriate provision (if any), as
shall be required by GAAP, shall have been made and reflected on the
appropriate SelectQuote financial statements;

         (b) do or cause to be done all things necessary to preserve and keep
in full force and effect its existence, licenses, appointments, rights and
franchises; and

         (c) maintain and keep, or cause to be maintained and kept, its
properties and those of its Subsidiaries in good repair, working order and
condition, and from time to time make or cause to be made all needful and
proper repairs, renewals, replacements and improvements so that the business
carried on in connection therewith may be conducted effectively in all
material respect, at all times.

         SECTION 4.4 FINANCIAL STATEMENTS AND INFORMATIONSECTION. SelectQuote
will furnish to each Purchaser:

         (a) as soon as available and in any event within 60 days after the
end of each calendar quarter, copies of a consolidated balance sheet of
SelectQuote as of the end of such quarter and of the related consolidated
statements of income, stockholders' equity and changes in cash flow of
SelectQuote for the portion of the fiscal year ended with the last day of
such quarter, all in reasonable detail and stating in comparative form the
respective consolidated figures for the corresponding date and period in the
previous fiscal year and all certified by the President and

<PAGE>

Chief Financial Officer of SelectQuote to present fairly the information
contained therein, subject to year-end and audit adjustments; and

         (b) as soon as available and in any event within 60 days after the
end of each fiscal year for SelectQuote, unaudited copies of a consolidated
balance sheet of SelectQuote as of the end of such fiscal year and of the
related consolidated statements of income and stockholders' equity and
statement of changes in cash flow of SelectQuote for such fiscal year, all in
reasonable detail and stating in comparative form the respective consolidated
figures as of the end of and for the previous fiscal year; and

         (c) as soon as available and in any event within 90 days after the
end of each fiscal year for SelectQuote, audited copies of a consolidated
balance sheet of SelectQuote as of the end of such fiscal year and of the
related consolidated statements of income and stockholders' equity and
statement of changes in cash flow of SelectQuote for such fiscal year, all in
reasonable detail and stating in comparative form the respective consolidated
figures as of the end of and for the previous fiscal year and all accompanied
by a report thereon of independent public accountants of recognized standing
reasonably acceptable to Purchasers; and

         (d) with the financial statements submitted under Sections 5.4(a),
5.4(b) and 5.4(c), a certificate signed by the party certifying said
statement to the effect that no Event of Default, nor any event that, upon
notice or lapse of time or both, would constitute an Event of Default, exists
or, if any such Event of Default or event exists, specifying the nature and
extent thereof; and

         (e) promptly upon receipt thereof, copies of all other reports,
management letters and other documents submitted to it by independent
accountants in connection with any annual or interim audit of its books made
by such accountants; subject to Purchasers agreement to hold such information
in confidence and to execute confidentiality agreements as may be reasonably
requested; and

         (f) as soon as practical, from time to time, such other information
regarding its operations, business affairs and financial condition as any
Purchaser may reasonably request; subject to Purchasers agreement to hold
such information in confidence and to execute confidentiality agreements as
may be reasonably requested.

         SECTION 4.5 INSPECTION OF PROPERTIES AND BOOKS. Until the later of
(i) such time as SelectQuote has discharged all obligations to Purchasers
pursuant to this Agreement, including without limitation the payment in full
of all outstanding Debentures, or (ii) such time as SelectQuote shall
successfully consummate an Initial Offering of its Common Stock, each
Purchaser shall have the right to visit and inspect any of the properties of
SelectQuote, upon reasonable notice and during regular business hours and so
long as such visits or inspections do not unduly interfere with SelectQuote's
business operations, to examine the books of account and records of
SelectQuote, to make copies and extracts therefrom, to discuss the affairs,
finances and accounts of SelectQuote with, and to be advised as to the same
by, its and their officers, and its and their independent public accountants
(whose fees and expenses arising directly from such

<PAGE>

advice shall be paid by such Purchaser, except in such cases where such
Purchaser's inspection discloses a variance from SelectQuote's reported
results of ten percent (10%) or greater, in which case all fees and expenses
shall be paid by SelectQuote), all at such reasonable intervals as each
Purchaser may desire, subject to Purchasers agreements to hold such
information in confidence and to execute confidentiality agreements as may be
reasonably requested.

         SECTION 4.6 INSURANCE. SelectQuote and its Subsidiaries will insure
and keep insured, with financially sound and reputable insurers, their
respective properties, and such insurance shall be in such amounts (and with
such deductibles), as companies engaged in a similar business in accordance
with good business practice customarily insure properties of a similar
character against loss by fire and from other causes. In addition,
SelectQuote and its Subsidiaries will maintain with financially sound and
reputable insurers public liability insurance against claims for personal
injury, death or property damage suffered by others upon or in or about any
premises occupied by it or occurring as a result of its ownership,
maintenance or operation of any automobiles, trucks or other vehicles,
aircraft or other facilities or as a result of the use of products
manufactured, constructed or sold by it or services rendered by it, in such
amounts (and with such deductibles) as such insurance is usually carried by
companies engaged in a similar business and as is in accordance with good
business practice. During the term of this Agreement, SelectQuote covenants
and agrees to maintain not less than One Million Dollars ($1,000,000) in key
man life insurance on the lives of each of the Key Employees, the sole
beneficiary of which policies shall be SelectQuote.

         SECTION 4.7 TRANSACTIONS WITH AFFILIATES. Neither SelectQuote nor
any of its Subsidiaries will engage in any transaction with an Affiliate on
terms more favorable to the Affiliate than would have been obtainable in an
arms' length dealing.

         SECTION 4.8 NOTICE OF DEFAULT. Immediately upon SelectQuote or any
of its Subsidiaries obtaining Knowledge of any Event of Default under this
Agreement, it shall notify Purchasers of such Event of Default.

         SECTION 4.9 ISSUANCE OF STOCK; RESERVES. Except as provided in
Schedule 4.9 and the issuance of Common Stock at a price of not less than
$4.00 per share, until July 1, 2000, SelectQuote shall not authorize or issue
shares of any class of stock or any securities convertible into any class of
stock without the prior written consent of each of the Purchasers, in its
sole discretion. SelectQuote shall reserve for issuance an amount of shares
of Common Stock sufficient to satisfy the number of shares due to Purchasers
upon conversion of the Debentures.

         SECTION 4.10 OTHER INDEBTEDNESS. Neither SelectQuote nor SQIS shall
create, assume, or permit to exist any indebtedness, except:

         (a) The Debentures;

         (b) the indebtedness described on SCHEDULE 4.10 hereto; and

<PAGE>

         (c) subordinated indebtedness to any commercial bank(s), provided
that such subordinated indebtedness shall not exceed an aggregate of One
Million Dollars ($1,000,000) at any one time outstanding on terms acceptable
to Purchasers and, provided further, that SelectQuote and SQIS and any such
lender shall have executed a Subordination Agreement in the form attached
hereto as EXHIBIT C;

         (d) trade indebtedness incurred in the ordinary course of business;
and

         (e) equipment lease financing.

         SECTION 4.11 CONTINUATION OF CURRENT BUSINESS, OFFICES, NAME, ETC..
Neither SelectQuote nor its Subsidiaries shall (a) engage in any business
other than the business now being conducted by it and other businesses
directly related thereto; (b) remove its principal place of business or
business records from the State of California, unless the removal is pursuant
to a merger, consolidation or transfer of assets approved by the Purchasers;
(c) change its name or conduct its business in any name other than its
current name; or (d) enter into (1) any agreement whereby the management,
supervision or control of its business is delegated to or placed in any
person other than its current governing body and officers or (2) any contract
or agreement whereby any of its principal functions are delegated to or
placed in any agent or independent contractor.

         SECTION 4.12 SALE OF ASSETS, CONSOLIDATION, MERGER. SelectQuote
shall not (a) sell, lease, transfer or otherwise dispose of all or a
substantial part of its properties or assets to any Person; (b) permit any of
its Subsidiaries to sell, lease, transfer or otherwise dispose of greater
than 50% of the fair value of their properties or assets to any Person; or
(c) consolidate with, merge into or participate in a statutory share exchange
with any other Person, or permit another Person to merge into it, acquire all
or substantially all the properties or assets of any other Person, or acquire
all or substantially all the properties or assets relating to a line of
business or a division of any other Person.

         SECTION 4.13 LITIGATION NOTICE. SelectQuote shall immediately notify
Purchasers of any action, suit or proceeding at law or in equity or by or
before any Governmental Body that, if adversely determined, might reasonably
be expected to impair its ability to perform any of its obligations under
this Agreement or any agreement delivered in connection herewith to
Purchasers, might reasonably be expected to impair its right to carry on its
business substantially as now conducted, or might reasonably be expected to
materially and adversely affect its business, operations, properties or
condition, financial or otherwise.

         SECTION 4.14 LIENSSECTION. Neither SelectQuote nor its Subsidiaries
shall incur, create, assume or permit to exist any Lien on any of its
properties, now or hereafter owned, other than:

         (a) Liens securing the payment of obligations to LaSalle and to
Purchasers pursuant to this Agreement;

<PAGE>

         (b) deposits under workmen's compensation, unemployment insurance
and Social Security laws, or to secure the performance of bids, tenders,
contracts (other than for the repayment of borrowed money) or leases or to
secure statutory obligations or surety or appeal bonds, or to secure
indemnity, performance or other similar bonds in the ordinary course of
business;

         (c) Liens imposed by law, such as carriers', warehousemen's or
mechanics' liens, incurred in good faith in the ordinary course of business
and that are not delinquent or that are actively being contested in good
faith by SelectQuote, and any Lien arising out of a judgment or award not
exceeding $10,000 with respect to which an appeal is being prosecuted, a stay
of execution pending such appeal having been secured; and

         (d) Liens for taxes, assessments or other governmental charges or
levies that are not delinquent or that are being contested in good faith by
SelectQuote.

         (e) purchase money Liens on equipment (arising substantially
contemporaneously with the purchase of such equipment) acquired in the
ordinary course of business to secure the purchase the acquisition of such
equipment or to secure indebtedness incurred solely for the purpose of
financing the acquisition of such equipment, or any Lien existing on the
equipment at the time of its acquisition, provided that (A) the indebtedness
secured by such Lien does not exceed the purchase price or fair market value,
whichever is less, or the equipment so acquired at the time of its
acquisition, (B) the equipment is used for useful in the ordinary course of
business of the acquiring person, and (C) the Lien dose not cover and
property other than the equipment so acquired; PROVIDED, HOWEVER, the
aggregate principal amount secured by Liens described in this Section 4.14(e)
shall not exceed Five Hundred Thousand Dollars ($500,000).

         SECTION 4.15 GUARANTIES. Neither SelectQuote nor its Subsidiaries
shall guarantee, endorse, become surety for or otherwise in any way become or
be responsible for the indebtedness, liabilities or obligations of any other
Person, whether by agreement to purchase the indebtedness or obligations of
any other Person, or agreement for the furnishing of funds to any other
Person (directly or indirectly, through the purchase of goods, supplies or
services or by way of stock purchase, capital contribution, working capital
maintenance agreement, advance or loan) or for the purpose of paying or
discharging the indebtedness or obligations of any other Person, or
otherwise, except for the endorsement of negotiable instruments in the
ordinary course of business for collection.

         SECTION 4.16 INVESTMENTS. Except for wholly-owned subsidiaries of
SelectQuote, neither SelectQuote nor its Subsidiaries shall purchase or hold
beneficially any stock, other securities or evidences of indebtedness of,
make or permit to exist any loans or advances to, or make any investment or
acquire any interest whatsoever in, any other Person; provided, however, that
they may invest in (1) direct obligations of, or obligations unconditionally
guaranteed by, the United States of America or any agency thereof maturing in
less than one year from the date of purchase; (2) commercial paper issued by
any Person organized and doing business under the laws of the United States
of America or any state thereof rated in the highest category by

<PAGE>

Moody's Investors Services, Inc. or by Standard & Poor's Corporation and
maturing in less than one year from the date of purchase; and (3)
certificates of deposit maturing within one year of the date of acquisition
thereof issued by any commercial bank, organized and doing business under the
laws of the United States of America or any state thereof whose deposits are
insured by the Federal Deposit Insurance Corporation, if the face amount of
said certificate of deposit, when added to all other deposits of SelectQuote
or such Subsidiary at such commercial bank, does not exceed the
then-applicable limitation on the amount of federally insured deposits; and
further provided that it may hold the stock of any subsidiaries to which the
Purchasers have consented in writing.

         SECTION 4.17 FURTHER ASSURANCES. SelectQuote and its Subsidiaries
shall at its expense, at any time and from time to time, promptly execute and
deliver all further instruments and documents and take all further action
that may be necessary or in accordance with good practice or that Purchasers
may reasonably request in connection with this Agreement or the other
transactions provided for herein.

                                    ARTICLE 5

                           EVENTS OF DEFAULT; REMEDIES

         SECTION 5.1 EVENTS OF DEFAULT DEFINED; ACCELERATION OF MATURITY. If
any of the following events (individually an "Event of Default" and
collectively "Events of Default") shall have occurred and be continuing:

         (a) any two (2) Key Employees cease to be actively involved in the
day-to-day management of SelectQuote in accordance with their current level of
participation therein PROVIDED, HOWEVER, the happening of the events described
in this subsection (a) after the closing of an Initial Offering shall not
constitute an Event of Default; or

         (b) any default or event of default shall occur under any document
or agreement delivered in connection with the transactions provided for in
this Agreement (after giving effect to any applicable notice, grace or cure
period specified therein); or

         (c) any representation or warranty made in this Agreement shall
prove to be false or misleading in any material respect as of the time made;
or

         (d) any closing certificate or financial statement furnished in
connection with this Agreement shall prove to be false or misleading in any
material respect as of the time furnished; or

         (e) immediately upon a breach of Section 4.12 by SelectQuote or any
of its Subsidiaries; or

<PAGE>

         (f) default shall be made in the due observance or performance of
any material covenant, condition or agreement on the part of SelectQuote or
its Subsidiaries to be observed or performed pursuant to the terms of this
Agreement (other than any covenant, condition or agreement, default in the
observance or performance of which is elsewhere in this SECTION 5.1
specifically dealt with) or the Security Agreement and such default shall
continue unremedied for a period of thirty (30) days; or

         (g) any default or event of default (including, but not limited to,
the failure to make any payment of principal or interest thereunder when due)
shall occur under the Debentures (after giving effect to any applicable
notice, grace or cure period specified therein); or

         (h) any event shall occur or any condition shall exist in respect of
any debt or obligation of SelectQuote or its Subsidiaries (other than under
the Debentures), or under any agreement securing or relating to any of such
debts or obligations, the effect of which is to cause the acceleration of the
maturity of such debt or obligation, or any such debt shall not have been
paid at the final maturity date thereof (as renewed or extended if it shall
have been renewed or extended) and any applicable grace period shall have
expired; or

         (i) either SelectQuote or any of its Subsidiaries shall (i) apply
for or consent to the appointment of, or the taking of possession by, a
receiver, custodian, trustee or liquidator of itself or of all or a
substantial part of its property, (ii) be generally unable to pay its debts
as such debts become due, (iii) make a general assignment for the benefit of
its creditors, (iv) commence a voluntary case under the Federal Bankruptcy
Code (as now or hereafter in effect), (v) file a petition seeking to take
advantage of any other law providing for the relief of debtors, (vi) fail to
controvert in a timely or appropriate manner, or acquiesce in writing to, any
petition filed against it in an involuntary case under such Bankruptcy Code,
(vii) take any action under the laws of its jurisdiction of incorporation
analogous to any of the foregoing, or (viii) take any corporate action for
the purpose of effecting any of the foregoing; or

         (j) with respect to SelectQuote or any of its Subsidiaries, a
proceeding or case shall be commenced, without the application or consent of
SelectQuote or such Subsidiaries in any court of competent jurisdiction,
seeking (i) the liquidation, reorganization, dissolution, winding up, or
composition or readjustment of its debts, (ii) the appointment of a trustee,
receiver, custodian, liquidator or the like for all or any substantial part
of its assets, or (iii) similar relief in respect of it, under any law
providing for the relief of debtors, and such proceeding or case shall
continue undismissed, or unstayed and in effect, for a period of sixty (60)
days; or an order for relief shall be entered in an involuntary case under
such Bankruptcy Code, against SelectQuote or any of its Subsidiaries; or
action under the laws of the jurisdiction of incorporation of SelectQuote or
any of its Subsidiaries analogous to any of the foregoing shall be taken with
respect to SelectQuote or any of its Subsidiaries and shall continue unstayed
and in effect for any period of sixty (60) consecutive days; or

         (k) final judgment for the payment of money shall be rendered by a
court of competent jurisdiction against SelectQuote or any of its
Subsidiaries and SelectQuote or such Subsidiary shall not discharge the same
or provide for its discharge in accordance with its terms,

<PAGE>

or procure a stay of execution thereof within thirty (30) days from the date
of entry thereof and within said period of thirty (30) days, or such longer
period during which execution of such judgment shall have been stayed, appeal
therefrom and cause the execution thereof to be stayed during such appeal,
and such judgment together with all other such judgments shall exceed in the
aggregate an amount equal to or greater than five percent (5%) of
SelectQuote's consolidated revenues for its previous fiscal year-end, or in
any case where such judgment together with all other such judgments may
materially adversely affect the business, prospects, financial condition or
results of operations of SelectQuote;

         (l) if, at any time, SelectQuote or any of its Subsidiaries shall
fail to own sufficient title and ownership of all intellectual property
assets whereby such failure would be reasonably likely to have a material
adverse effect on the business or operations of SelectQuote or such
Subsidiary.

         (m) If the Bylaws or Articles of Incorporation of SelectQuote be
altered or amended in any manner which results in restrictions on
transferability of the securities owned by the Purchasers which are more
restrictive than those existing as of the date hereof.

         (n) If the funding of the equity investment by High Ridge Capital
Partners II, L.P. in SelectQuote (as described in that certain Consent to
Merger dated December 16, 1999 by and between the Purchasers, SelectTech,
SQIS and SelectQuote) shall not have occurred within five (5) business days
subsequent to the merger of SelectTech with and into SQIS.

         (o) If all of the Debentures held by Protective have not been
prepaid in full, including any and all interest and other charges accrued
through the date of prepayment within five (5) business days subsequent to
the merger of SelectTech with and into SQIS.

         Upon the occurrence of any Event of Default described in subsections
(a), (b), (h) or (i) above, the unpaid principal amount of the Debentures
together with any accrued and unpaid interest thereon, shall, at the election
of the Purchaser, become immediately due and payable, without presentment,
demand, protest or other requirements of any kind, all of which are hereby
expressly waived by SelectQuote; or upon the occurrence of any other Event of
Default, Purchasers may, by written notice to SelectQuote, declare the unpaid
principal amount of the Debentures to be, and the same shall forthwith
become, due and payable, together with any interest accrued on the Debentures.

         SECTION 5.2 SUITS FOR ENFORCEMENT. In addition to the remedies set
forth above, if any Event of Default shall have occurred and be continuing,
the holder of any Debentures may proceed to protect and enforce its rights,
pursuant to Section 13.8, whether for the specific performance of any
covenant or agreement contained in this Agreement or in aid of the exercise
of any power granted in this Agreement, or the holder of any Debentures may
proceed to enforce the payment of all sums due upon such Debentures or to
enforce any other legal or equitable right of the holder of such Debentures.
If SelectQuote shall default in the making of any payment due under any
Debentures or in the performance or observance of any agreement

<PAGE>

contained in this Agreement, SelectQuote will pay to the holder thereof such
further amounts, to the extent lawful, as shall be sufficient to pay the
costs and expenses of collection or of otherwise enforcing such holder's
rights, including reasonable counsel fees.

         SECTION 5.3 REMEDIES CUMULATIVE. No remedy herein conferred upon the
holder of any Debenture is intended to be exclusive of any other remedy and
each and every such remedy shall be cumulative and shall be in addition to
every other remedy given hereunder or now or hereafter existing at law or in
equity or by statute or otherwise.

         SECTION 5.4 REMEDIES NOT WAIVED. No course of dealing between
SelectQuote and the holder of any Debenture and no delay or failure in
exercising any rights hereunder or under any Debenture in respect thereof
shall operate as a waiver of any Purchaser's rights or the rights of any
holder of such Debentures.

                                    ARTICLE 6
                                   PREPAYMENT

         SECTION 6.1 PREPAYMENT. SelectQuote shall have no right to prepay
any or all of the Debentures prior to July 1, 2000. Subject to each
Purchaser's right of conversion as set forth in ARTICLE 7, at any time on or
after July 1, 2000, SelectQuote shall have the right to prepay any or all of
the Debentures, in principal amounts of not less than Five Hundred Thousand
Dollars ($500,000), by giving notice of its intent to prepay specifying the
date fixed for such prepayment, not less than thirty (30) days prior to the
date of such intended prepayment; PROVIDED, HOWEVER, if at the time such
prepayment notice is given, the Debentures are held by more than one Person
and the intended prepayment is for less than all of the Debentures, such
prepayment shall be made to all Debenture holders on a pro rata basis based
on the total principal amount of Debentures held at the time by such holder.

         SECTION 6.2 INITIAL PUBLIC OFFERING. Upon the closing of an initial
offering of its shares of Common Stock to the public pursuant to an
underwritten offering registered with the SEC on Form S-1 or on a similar
form (an "Initial Offering"), any holder that has not elected to convert the
Debentures held by such holder pursuant to the provisions of SECTION 7.2
hereof prior to the completion of such Initial Offering, may be prepaid in
full by SelectQuote, at its option, on the date of the closing of such
offering. SelectQuote shall give the Debenture holders not less than fifteen
(15) days notice prior to the date of the closing of the offering.

         SECTION 6.3 SURRENDER OF SECURITIES; NOTATION THEREON. SelectQuote
may, as a condition of payment of the Debentures, require the holder to
present such Debenture for notation of such payment and, if such Debenture be
paid in full, require the surrender thereof.

                                    ARTICLE 7
                                   CONVERSION

<PAGE>

         The Debentures shall be convertible into shares of Common Stock as
hereinafter set forth:

         SECTION 7.1 RIGHT OF CONVERSION; CONVERSION PRICE. The holder of any
Debenture shall have the right, in its sole discretion, at any time, and from
time to time, and prior to the Maturity Date, to convert any or all of the
principal balance of such Debenture then outstanding in increments of
$100,000 (unless the principal balance then outstanding is less than
$100,000, in which case a Purchaser must convert the remaining principal
balance) into such number of shares of Common Stock as is obtained by
dividing (a) the principal balance to be converted, by (b) $1.67/.641597 (the
"Conversion Price"). The holder of any Debenture shall exercise its right of
conversion hereunder by delivering to SelectQuote the Notice of Conversion
attached to the Debenture certificate before the earlier of (i) the date of
prepayment or (ii) the Maturity Date. If SelectQuote subdivides or combines a
larger or smaller number of shares of its outstanding shares of Common Stock,
then the Conversion Price shall be proportionally decreased in the case of a
subdivision and increased in the case of a combination, effective in either
case at the close of business on the date that the subdivision or combination
becomes effective.

         SECTION 7.2 INITIAL OFFERING; RIGHT OF CONVERSION. Notwithstanding
anything contained in this Agreement to the contrary, if SelectQuote selects
underwriters to prepare an Initial Offering, SelectQuote shall promptly, but
in any case, not more than thirty (30) days after such selection, notify the
holders of all Debentures of such proposed offering, which notice shall set
forth the terms of such agreement and, to the extent then known, the terms of
the Initial Offering (the "Registration Notice"), and such holders shall have
the right, exercisable in their sole discretion, to convert any or all of the
Debenture Balance into Common Stock as set forth in SECTION 7.1 above. The
holder of any Debenture shall exercise its right of conversion hereunder by
delivering to SelectQuote the Notice of Conversion attached to the Debenture
certificate (the "Notice of Conversion") not later than 5:00 P.M. Central
Standard Time, on the second business day immediately preceding the closing
of the offering.

         SECTION 7.3 ISSUANCE OF SHARES OF COMMON STOCK ON CONVERSION. As
promptly as practicable after the surrender of any Debenture for conversion,
SelectQuote shall deliver or cause to be delivered to the Debenture holder
certificates representing the number of fully paid and nonassessable shares
of Common Stock into which such Debenture may be converted in whole or in
part and a new Debenture for any unconverted portion of the surrendered
Debenture. Such Conversion shall be deemed to have been made at the close of
business on the date that such Debenture is surrendered for conversion.

         SECTION 7.4 FRACTIONAL SHARES. No fractional shares shall be issued
upon the conversion of any Debenture. If the conversion of any Debenture
results in a fraction, an amount equal to such fraction multiplied by the
fair value of a share of Common Stock as determined by the Board in good
faith on the day of conversion shall be paid in cash by SelectQuote to such
holder.

         SECTION 7.5 RECLASSIFICATION OR CHANGE OF COMMON STOCK OR
SELECTQUOTE'S CONSOLIDATION, MERGER OR SALE OF PROPERTY AS AN ENTIRETY. In
the case of any proposed

<PAGE>

reclassification or change of outstanding shares of Common Stock, or any
proposed consolidation of SelectQuote with or into another corporation (other
than a merger with a Subsidiary in which merger SelectQuote is the continuing
corporation and which does not result in any reclassification of or change in
the number of outstanding shares of Common Stock) or any proposed sale or
conveyance to another corporation of the assets of SelectQuote as an entirety
or substantially as an entirety or any similar event (collectively, an
"Event"), SelectQuote shall promptly, but in any case, not less than
forty-five (45) days prior to the effective date of such Event, notify the
holders of all Debentures of such proposed Event (the "Event Notice") and
such holders shall have the right, exercisable in their sole discretion, to
convert any or all of the Debentures into Common Stock in accordance with the
ratio set forth in SECTION 7.1 above. The holder of any Debenture shall
exercise its right of conversion hereunder by delivering to SelectQuote the
Notice of Conversion attached to the Debenture certificate not later than
5:00 P.M. Central Standard Time, within thirty (30) days after the Debenture
holder's receipt of the Event Notice. In the event that the holder of any
Debenture does not elect to convert such Debenture in accordance with this
SECTION 7.5, such holder shall have the right, exercisable in its sole
discretion, to require SelectQuote to prepay in full all such Debentures
immediately upon the consummation of such proposed Event.

         SECTION 7.6 RESERVATION OF SHARES OF COMMON STOCK FOR ISSUANCE ON
CONVERSION. SelectQuote covenants that it will at all times reserve and keep
available out of its authorized Common Stock, solely for the purpose of
issuing upon conversion of the Debentures as herein provided, such number of
shares of Common Stock as shall then be issuable upon the conversion of all
outstanding Debentures. SelectQuote covenants that all shares of Common Stock
which shall be so issuable shall, when issued, be duly and validly issued and
fully paid and nonassessable.

         SECTION 7.7 TAXES ON CONVERSION. The issuance of certificates for
shares of Common Stock upon the conversion of Debentures shall be made
without charge to the converting holders of such Debentures for any tax in
respect of the issuance of such certificates, and such certificates shall be
issued in the respective names of, or in such names as may be directed by,
the holders of the Debentures converted; PROVIDED, HOWEVER, SelectQuote shall
not be liable for any income tax liabilities of any Purchaser arising from
the conversion of the Debentures or the issuance of shares of stock in
connection therewith.

                                    ARTICLE 8

                  COMPLIANCE WITH SECURITIES ACT; REGISTRATION

         None of the Debentures or the shares of Common Stock issuable upon
conversion of the Debentures are transferable except upon the conditions
specified in the following Sections.

         SECTION 8.1 RESTRICTIVE LEGEND. Each Debenture and each certificate
for Common Stock issued on conversion shall (unless otherwise permitted by
the provisions of this Article 8

<PAGE>

be stamped or otherwise imprinted with a legend in substantially the
following form (any such shares of Common Stock represented by a certificate
so legended are referred to as "Restricted Stock"):

         THE TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS
         SUBJECT TO THE CONDITIONS SPECIFIED IN THAT CERTAIN AMENDED AND
         RESTATED DEBENTURE PURCHASE AGREEMENT DATED AS OF [ ], PROVIDING FOR
         THE ISSUE AND SALE OF THE 12% SENIOR SECURED CONVERTIBLE DEBENTURES OF
         SELECTQUOTE (THE "COMPANY"), AND NO TRANSFER OF SUCH SECURITIES SHALL
         BE VALID OR EFFECTIVE UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED.

         THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
         WITH THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES
         REGULATOR AND, THEREFORE, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO
         AN EFFECTIVE REGISTRATION STATEMENT OR AN OPINION OF COUNSEL THAT AN
         EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933 IS
         AVAILABLE.

         In addition, each such Debenture or certificate for Common Stock
issued on conversion shall contain such legends as may be required by
SelectQuote's Bylaws.

         SECTION 8.2 OPINION OF COUNSEL. No holder of any Debentures or
Restricted Stock shall transfer such Debentures or Restricted Stock, unless
(a) such Debentures or Restricted Stock have been registered with the SEC
under the Securities Act for the purpose of such transfer or (b) such holder
shall have caused to have been delivered to SelectQuote, prior to such
transfer, an opinion of counsel satisfactory to SelectQuote to the effect
that such transfer may be effected without registration. Upon delivery to
SelectQuote of such opinion, the Debentures or Restricted Stock may be
transferred in the manner contemplated by such opinion.

         SECTION 8.3 ACKNOWLEDGMENT OF REGISTRATION RIGHTS. Purchasers and
Protective are parties to that certain Registration Rights Agreement, dated
October 15, 1998. SelectQuote, Purchasers and Protective hereby acknowledge
and affirm the terms, conditions and agreements set forth in the Registration
Rights Agreement and agree that the Registration Rights Agreement shall be
binding upon them in full upon its assumption by SelectQuote pursuant to the
Plan of Reorganization. SelectQuote, Purchasers and Protective further
acknowledge and agree that any and all references to "Company" (as that term
is defined in the Registration Rights Agreement) shall mean SelectQuote and
its successors and assigns.

                                    ARTICLE 9

                               TAKE-ALONG RIGHTS

<PAGE>

         SECTION 9.1 TAKE-ALONG RIGHTS. If any of Steve Gerber, Charan Singh,
Dave Paulsen or Mike Feroah (a "Selling Stockholder") proposes any sale (a
"Sale") of Common Stock (or any securities, including without limitation
option, warrants or other similar rights, convertible into or exercisable or
exchangeable for Common Stock (collectively, the "Convertible Securities"))
owned by him, then each Purchaser and Protective shall have the right (but
not the obligation) to participate as a seller in such transaction such that
Purchasers and Protective shall be entitled to sell the number of shares of
Common Stock as calculated in subsection (c) below.

         (a) the Selling Stockholder shall give Purchasers and Protective
written notice of the proposed Sale of Common Stock not less than thirty (30)
Business Days before such sale is to take place. The notice ("Sale Notice")
shall set forth:

                  (i) the name and address of the proposed purchaser,

                  (ii) the number of shares of Common Stock proposed to be
         transferred and the number of shares issuable upon conversion, exercise
         or exchange of any other Convertible Securities to be transferred by
         the Selling Stockholder(s),

                  (iii) the proposed amount and form of consideration and terms
         and conditions of payment offered by such proposed purchaser, and

                  (iv) the signed agreement of the proposed purchaser
         acknowledging that he or it has been informed of the terms and
         conditions of this Article 9 and (A) has agreed to purchase Common
         Stock in accordance with the terms hereof and (B) has agreed to be
         bound by the terms contained in this Article 9 of this Agreement as if
         he or it were an original signatory hereto.

         (b) The take-along rights provided in this Agreement may be
exercised by any Purchaser and/or Protective by delivery of a written notice
(the "Take-Along Notice") to the Selling Stockholder(s) within ten (10)
business days after receipt of the Sale Notice. The Take-Along Notice shall
state the amount of Common Stock which said Purchaser or Protective wishes to
include in such sale to the proposed purchaser.

         (c) The proposed purchaser shall purchase from Purchasers and/or
Protective the number of shares of Common Stock which shall be equal to the
lesser of (i) the number of shares designated by Purchasers and/or Protective
pursuant to SECTION 9.1(b) above or (ii) the number of shares of Common Stock
derived by multiplying (A) the number of shares of Common Stock plus the
number of shares issuable upon conversion, exercise or exchange of any other
Convertible Securities to be purchased by the proposed purchaser by (B) a
fraction, the numerator of which is the number of shares of Common Stock
owned by Purchasers and Protective, and the denominator of which is the total
number of all outstanding shares of Common Stock (assuming for purposes
hereof full exercise or conversion of all Convertible Securities) owned by
Purchasers, Protective and the Selling Stockholder.

<PAGE>

         (d) Any shares purchased from Purchasers and/or Protective pursuant
to this Article 9 shall be purchased at the same price per share and
otherwise on the same terms and conditions as the proposed Sale (it being
understood and agreed that such terms and conditions do not include the
making of any representations and warranties, indemnities or other similar
Agreements other than representations, warranties and indemnities as to the
ownership of such shares and the due authority to sell such shares).

         SECTION 9.2 EXCEPTIONS. The restrictions set forth in Section 9.1
shall not apply in the following cases:

         (a) Each Selling Stockholder may transfer any shares to SelectQuote
pursuant to the exercise of any right of first refusal to such shares held by
SelectQuote or in connection with the repurchase by SelectQuote of any such
shares at the original purchase price paid therefor.

         (b) Each Selling Stockholder may transfer any shares to a Permitted
Transferee provided that such Permitted Transferee agrees to be bound by this
Agreement.

         SECTION 9.3 PERMITTED TRANSFEREE. For purposes of this Section 9,
Permitted Transferee shall mean a Selling Stockholder's spouse, siblings,
ancestors and descendants (whether natural or adopted), any spouses of such
siblings, ancestors or descendants, or any trust for the benefit of the
Selling Stockholder or any of the foregoing, provided that such Permitted
Transferee agrees to be bound by the terms of this Agreement.

         SECTION 9.4 TERMINATION OF TAKE-ALONG RIGHTS. The provisions of this
Article 9 shall terminate upon the closing of an Initial Offering.

                                   ARTICLE 10

                            LOST, ETC., INSTRUMENTS

         Upon receipt by SelectQuote of an affidavit of an authorized officer
of any Purchaser that any Debenture has been lost, stolen, destroyed or
mutilated and the written agreement of such Purchaser to indemnify
SelectQuote in the event of any loss caused by a lost or stolen instrument,
and upon reimbursement to SelectQuote of all reasonable expenses incidental
thereto and upon surrender and cancellation of such Debenture, if mutilated,
SelectQuote will deliver in lieu of such Debenture a new Debenture in a like
unpaid principal amount, dated as of the date to which interest has been paid
thereon.

                                   ARTICLE 11

                              AMENDMENT AND WAIVER

<PAGE>

         Any term, covenant, agreement or condition of this Agreement or of
the Debentures may be amended, or compliance therewith may be waived (either
generally or in a particular instance and either retroactively or
prospectively), by one or more substantially concurrent written instruments
executed by each of the parties hereto.

                                   ARTICLE 12

                               TAXES AND EXPENSES

         SelectQuote will pay all taxes, other than income taxes, (including
interest and penalties) which may be payable in respect of the execution and
delivery of this Agreement or of the execution and delivery of any of the
Debentures or of any amendment of, or waiver or consent under or with respect
to, this Agreement or of any of the Debentures.

                                   ARTICLE 13

                                 MISCELLANEOUS

         SECTION 13.1 RELIANCE ON AND SURVIVAL OF REPRESENTATIVES. All
agreements, representations and warranties of SelectQuote herein and in any
certificates or other instruments delivered pursuant to this Agreement shall
(a) be deemed to be material and to have been relied upon by Purchasers,
notwithstanding any investigation heretofore or hereafter made by Purchasers
or on their behalf, and (b) survive the execution and delivery of this
Agreement and the delivery of the Debentures to Purchaser, and shall continue
in effect so long as any Debenture is outstanding.

         SECTION 13.2  EXPENSES.

         (a) SelectQuote hereby agrees to pay the costs and expenses for the
preparation of this Agreement and in connection with the transactions
provided for herein; and

         (b) SelectQuote and Purchasers respectively agree to pay the costs
and expenses (including reasonable attorney's fees) incurred by the other
party or parties in successfully (i) enforcing any of the terms of this
Agreement or (ii) proving that the other party breached any of the terms of
this Agreement.

         SECTION 13.3 SUCCESSOR AND ASSIGNS. All covenants and agreements in
this Agreement by or on behalf of the respective parties hereto shall bind
and inure to the benefit of their respective successors and assigns.

         SECTION 13.4 PARTIES IN INTEREST. This Agreement is made solely for
the benefit of SelectQuote and Purchasers, and where applicable, Protective,
and no other person, partnership, trust association or corporation shall
acquire or have any right under or by virtue of this Agreement.

<PAGE>

         SECTION 13.5 PRESS RELEASES. SelectQuote and each of the Purchasers
shall obtain the prior consent of the other Parties as to the form and
substance of any press release or other public disclosure materially related
to this Agreement or any other transaction provided for herein; provided,
however, that nothing in this Section 13.5 shall be deemed to prohibit any
party from making any disclosure which it deems necessary or advisable, with
the advice of counsel, in order to satisfy such party's disclosure
obligations imposed by law.

         SECTION 13.6 ENTIRE AGREEMENT. This Agreement, including Exhibits
and Schedules attached hereto, constitutes the entire agreement among the
parties with respect to the Debentures and supersedes all prior agreements
and understandings of the parties in connection therewith. No covenant or
condition not expressed in this Agreement shall affect or be effective to
interpret, change or restrict this Agreement. The provisions of this
Agreement may not be changed, modified or amended except in writing duly
executed by each party hereto. In the event of any conflict between the terms
of this Agreement and the Security Agreement the provisions of this Agreement
shall control.

         SECTION 13.7 NOTICES. All notices, opinions and other communications
provided for in this Agreement shall be in writing and delivered by hand or
mailed certified mail, return receipt requested, or by overnight courier such
as Federal Express:

         (a)      if to Protective, addressed to:

                  (I)             Mr. Edmund P. Perry
                           Protective Life Insurance Company
                           P. O. Box 2606
                           Birmingham, Alabama  35202-2606
                           Telephone:  205/868-3040
                           Facsimile:  205/868-3023

         (b)      if to Purchasers, addressed to:

                  (i)               Jim Tobin
                           Security Connecticut Life Insurance Company
                           c/o ReliaStar Investment Research, Inc.
                           100 Washington Avenue South
                           Suite 800
                           Minneapolis, MN  55401-2121
                           Telephone:  (612)/342-3204
                           Facsimile:  (612)/372-5368

                  (ii)              John Fromelt
                           North American Company for Life and Health Insurance
                           1 Midland Plaza

<PAGE>

                           Sioux Falls, South Dakota  57193
                           Telephone:  (605) 373-8600
                           Facsimile:  (605) 335-1429

         (c)      if to SelectQuote, addressed to:

                           David Paulsen
                           SelectQuote
                           595 Market Street, 6th Floor
                           San Francisco, CA  94105
                           Telephone: (800) 343-1985 ext. 2220
                           Facsimile: (415) 546-7154

All notices sent by Federal Express or other overnight courier shall be
deemed received two (2) business days after delivery to such courier postage
prepaid or four (4) business days after being mailed, postage prepaid by
certified mail. Notices delivered otherwise shall be deemed received when
actually received by the addressee thereof.

         SECTION 13.8  DISPUTE RESOLUTION; ARBITRATION.

         (a) BASIS FOR ARBITRATION. The parties hereto agree that the subject
matter of this Agreement and any agreement that may be entered in connection
herewith both involve and affect interstate commerce within the meaning of
the commerce clause of the United States Constitution. This Agreement shall
be irrevocable and is binding upon the parties and is subject to being
specifically enforced.

         (b) MANDATORY ARBITRATION OF DISPUTES. Any action, dispute, claim,
counterclaim or controversy ("Dispute" or "Disputes"), between or among the
parties, including, without limitation, any claim based on, or arising from,
an alleged tort or contract, shall be resolved by arbitration as set forth
below. As used herein, Disputes shall include all actions, disputes, claims,
counterclaims or controversies arising in connection with any extension of or
commitment set forth in this Agreement or in any other agreement entered by
the parties in connection with this Agreement, any action taken (or any
omission to take any action) in connection with any of the foregoing, any
past, present and future agreements between or among the parties, including,
without limitation, this Agreement, or any agreement entered in connection
with this Agreement. All Disputes shall be resolved by binding arbitration in
accordance with Title 9 of the U.S. Code and the Commercial Arbitration Rules
of the American Arbitration Association ("AAA"). Defenses based on statutes
of limitation, estoppel, waiver, laches and similar doctrines, that would
otherwise be applicable to an action brought by a party, shall be applicable
in any such arbitration proceeding, and the commencement of an arbitration
proceeding with respect to this Agreement shall be deemed the commencement of
an action for such purposes.

<PAGE>

         (c) SELECTION OF ARBITRATOR. Whenever an arbitration is required
under subsection (b), the arbitrators shall be selected, except as otherwise
provided, in accordance with the Commercial Arbitration rules of the AAA. The
panel of arbitrators shall determine the resolution of the Dispute.

         (d) PLACE OF ARBITRATION. Whenever an arbitration is required under
subsection (b), such arbitration shall be conducted in Denver, Colorado.

         (e) MISCELLANEOUS. Any arbitration questions arising under this
Agreement shall be governed in accordance with Title 9 of the U.S. Code. This
section constitutes the entire agreement of the parties with respect to its
subject matter and supersedes all prior discussions, arrangements,
negotiations and other communications on dispute resolutions. The provisions
of this section shall survive any termination, amendment or expiration of the
Agreement in which this section is contained, unless the parties otherwise
expressly agree in writing. In the event of any Dispute governed by this
section, each of the parties shall pay all of its own expenses, and, subject
to the award of the arbitrator, shall pay an equal share of the arbitrators'
fees. The arbitrator shall have the power to award recovery of all costs and
fees (including attorneys' fees, administrative fees, arbitrators' fees and
court costs) to the prevailing party. This section may be amended, changed or
modified only by the express provisions of a writing which specifically
refers to this section and which is signed by all the parties hereto.

         SECTION 13.9 LAW GOVERNING. This Agreement and the Debentures shall
be governed by and construed in accordance with the laws of the State of
Alabama.

         SECTION 13.10 HEADINGS. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect any of
the terms hereof.

         SECTION 13.11 COUNTERPARTS. This Agreement may be executed in one or
more counterparts, each of which shall be deemed to be an original, but all
of which shall be considered one and the same instrument.

         SECTION 13.12 CONSENT TO ASSIGNMENT AND ASSUMPTION. Purchasers and
Protective hereby consent to the assignment to, and the assumption by,
SelectQuote of the obligations of SQIS, as the surviving entity of the merger
between SelectTech and SQIS, set forth in the Debenture Documents.
SelectQuote hereby acknowledges and affirms the terms, conditions and
agreements set forth in the Debenture Documents and assumes the obligations
of SQIS with respect to the Debenture Documents.

[Remainder of Page Intentionally Left Blank]

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

                                        SELECTQUOTE

<PAGE>

Attest:

By:                                     By:
    -------------------------------          -------------------------------

  Its:                                        Its:
       ----------------------------                -------------------------

                                        SELECTQUOTE INSURANCE SERVICES

Attest:

By:                                     By:
    -------------------------------          -------------------------------

  Its:                                        Its:
       ----------------------------                -------------------------

                                        SECURITY CONNECTICUT LIFE INSURANCE
                                        COMPANY

Attest:

By:                                     By:
    -------------------------------          -------------------------------

  Its:                                        Its:
       ----------------------------                -------------------------

                                        NORTH AMERICAN COMPANY FOR
                                        LIFE AND HEALTH INSURANCE

Attest:

By:                                     By:
    -------------------------------          -------------------------------

  Its:                                        Its:
       ----------------------------                -------------------------

                                        PROTECTIVE LIFE INSURANCE COMPANY

Attest:

By:                                     By:
    -------------------------------          -------------------------------

  Its:                                        Its:
       ----------------------------                -------------------------

(Signature Page to Amended and Restated Debenture Purchase Agreement)

                                 2

<PAGE>

                       AS TO ARTICLE 9 OF THE AGREEMENT:

                                       ----------------------------------
                                       Steve Gerber

                                       ----------------------------------
                                       Charan Singh

                                       ----------------------------------
                                       Mike Feroah

                                       ----------------------------------
                                       Dave Paulsen

                                3

<PAGE>

                                   EXHIBIT B

                               FORM OF DEBENTURES

THE TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO
THE CONDITIONS SPECIFIED IN THAT CERTAIN AMENDED AND RESTATED DEBENTURE
PURCHASE AGREEMENT DATED AS OF DECEMBER __, 1999, PROVIDING FOR THE ISSUE AND
SALE OF THE 12% SENIOR SECURED CONVERTIBLE DEBENTURES OF SELECTQUOTE, INC.
(THE "COMPANY"), NO TRANSFER OF SUCH SECURITIES SHALL BE VALID OR EFFECTIVE
UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED.

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED IN EXCHANGE
FOR A 12% SENIOR SECURED CONVERTIBLE DEBENTURE OF SELECTTECH DATED OCTOBER
15, 1998 PURSUANT TO THE EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") PROVIDED BY SECTION
3(a)(10) OF THE ACT AND HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES REGULATOR AND, THEREFORE, MAY NOT
BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR
AN OPINION OF COUNSEL THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS
AVAILABLE.

                               SELECTQUOTE, INC.
                    12% SENIOR SECURED CONVERTIBLE DEBENTURE

San Francisco, California                                      December __, 1999

FOR VALUE RECEIVED, the undersigned, SelectQuote, Inc., a Delaware
corporation (SelectQuote), hereby promises to pay to SECURITY CONNECTICUT
LIFE INSURANCE COMPANY, a Connecticut corporation (the "holder"), or its
registered assigns, the principal sum of Nine Hundred Fifty Thousand Dollars
($950,000.00) together with interest (computed on the basis of a 360-day year
of twelve 30-day months) from the date hereof on the unpaid principal balance
at an annual rate of 12% in accordance with the terms and conditions of that
certain Amended and Restated Debenture Purchase Agreement, dated as of
December __, 1999, among SelectQuote, Security Connecticut Life Insurance
Company, Protective Life Insurance Company and North American Company for
Life and Health Insurance (hereinafter the "Purchase Agreement"). This
Debenture is to be governed by an entitled to the benefits of the Purchase
Agreement.

Payments of principal and interest are to be made at the registered address
of the holder in lawful money of the United States of America.

As provided in the Purchase Agreement, this Debenture is subject to
prepayment in whole or in part, as specified in the Purchase Agreement.

                                1

<PAGE>

Upon surrender of this Debenture for registration or transfer, duly endorsed,
or accompanied by a written instrument of transfer duly executed, by the
registered holder thereof or such holder's attorney duly authorized in
writing, a new Debenture for alike principal amount will be issued to, and,
at the option of the holder, registered in the name of, the transferee.
SelectQuote may deem and treat the person in whose name this Debenture is
registered as the holder and owner hereof for the purpose of receiving
payments and for all other purposes whatsoever, and SelectQuote shall not be
affected by any notice to the contrary.

In case an Event of Default (as defined in said Purchase Agreement) shall
occur and be continuing, the principal of this Debenture may become or be
declared due and payable in the manner and with the effect provided in said
Purchase Agreement.

This Debenture is convertible at the option of the holder hereof into Common
Stock of SelectQuote upon the terms provided in said Purchase Agreement. Each
holder hereof, whether upon original issue or upon transfer or assignment
hereof, accepts and agrees to be bound by such provisions.

Said Purchase Agreement contains conditions restricting and limiting the
transfer of the shares of Common Stock issuable upon the conversion of this
Debenture, all relating to compliance with the Securities Act of 1933 or any
similar Federal statute or state securities laws at the time in effect.

                                            SELECTQUOTE, INC.

                                            By:
                                                --------------------------
                                            Its:
                                                 -------------------------

ATTEST:

By:
    ----------------------------

Its:
     ---------------------------

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<PAGE>

                              NOTICE OF CONVERSION

                        [Letterhead of Debenture Holder]

                                     [date]

SelectQuote, Inc.

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

Re: Election to Convert Debenture

Ladies and Gentlemen:

Reference is hereby made to that certain Amended and Restated Debenture
Purchase Agreement dated [___________, 1999], by and among SelectQuote, Inc.
(the "Company"), Security Connecticut Life Insurance Company and North
American Company for Life and Health Insurance (the "Purchase Agreement").
Capitalized terms not defined herein shall have the meaning given them in the
Purchase Agreement.

The undersigned hereby irrevocably elects to exercise the right of conversion
represented by the within Debenture Certificate as provided for in Section
7.1 (2.1 or 7.2) of the Purchase Agreement. If such election is being made
pursuant to Section 2.1 of the Purchase Agreement, the undersigned elects to
convert $_______________ of the outstanding principal of the Debenture into
shares of Common Stock in accordance with the terms of the Purchase
Agreement. If such election is being made pursuant to Section 7.2 of the
Purchase Agreement, the undersigned elects to convert $_______________ of the
outstanding principal of the Debenture into shares of Common Stock in
accordance with the terms of the Purchase Agreement.

Please issue a certificate or certificates for such shares of Common Stock in
the name of, and pay any cash for any fractional shares to:

                           Name:
                                 ------------------------------------------
                           Address:
                                    ---------------------------------------
                           Taxpayer ID No.:
                                            -------------------------------
                           (Please print Name, Address and Taxpayer ID No.)

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

                                            By:
                                               ----------------------------
                                                 Its:
                                                      ---------------------

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