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                                                                    EXHIBIT 10.6

                                                                       EXHIBIT A

                          REGISTRATION RIGHTS AGREEMENT

         THIS REGISTRATION RIGHTS AGREEMENT, dated as of March 30, 2001 between
Copira Investments Inc., a British Virgin Islands company ("Purchaser") and
Metropolitan Health Networks, Inc. (the "Company").

         WHEREAS, simultaneously with the execution and delivery of this
Agreement, the parties shall enter into the Common Stock Purchase Agreement,
dated as of the date hereof, (the "Purchase Agreement") pursuant to which the
Purchaser has committed to purchase up to $12,000,000 of the Company's Common
Stock (terms not defined herein shall have the meanings ascribed to them in the
Purchase Agreement) and the Warrant; and

         WHEREAS, the execution and delivery of this Agreement and granting to
the Purchaser of the registration rights set forth herein with respect to the
Shares is a component part of the transaction contemplated under the Purchase
Agreement.

         NOW, THEREFORE, the parties hereto mutually agree as follows:

         Section 1. Registrable Securities. As used herein the term "Registrable
Security" means all Shares that (i) have not been sold under the Registration
Statement, (ii) have not been sold under circumstances under which all of the
applicable conditions of Rule 144 (or any similar provision then in force) under
the Securities Act ("Rule 144") are met, (iii) have not been otherwise
transferred to persons who may trade such Shares without restriction under the
Securities Act, and the Company has delivered a new certificate or other
evidence of ownership for such Shares not bearing a restrictive legend, or (iv)
may not be sold without any time, volume or manner limitations pursuant to Rule
144(k) (or any similar provision then in effect) under the Securities Act. In
the event of any merger, reorganization, consolidation, recapitalization or
other change in corporate structure affecting the Common Stock, such adjustment
shall be deemed to be made in the definition of "Registrable Security" as is
appropriate in order to prevent any dilution or enlargement of the rights
granted pursuant to this Agreement.

         Section 2. Restrictions on Transfer. The Purchaser acknowledges and
understands that in the absence of an effective Registration Statement
authorizing the resale of the Shares as provided herein, the Shares are
"restricted securities" as defined in Rule 144. The Purchaser understands that
no disposition or transfer of the Shares may be made by Purchaser in the absence
of (i) an opinion of counsel to the Purchaser, in form and substance reasonably
satisfactory to the Company, that such transfer may be made without registration
under the Securities Act or (ii) such registration.

         With a view to making available to the Purchaser the benefits of Rule
144, the Company agrees to:

            (a) use its best efforts to comply with the provisions of paragraph
      (c)(1) of Rule 144; and

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            (b) use its best efforts to file with the Commission in a timely
      manner all reports and other documents required to be filed by the Company
      pursuant to Section 13 or 15(d) under the Exchange Act; and, if at any
      time it is not required to file such reports but in the past had been
      required to or did file such reports, it will, upon the request of the
      Purchaser, make available other information as required by, and so long as
      necessary to permit sales of, its Registrable Securities pursuant to Rule
      144.

         Section 3. Registration Rights With Respect to the Shares.

            (a) The Company agrees that it will prepare and file with the
      Securities and Exchange Commission ("Commission"), within forty-five (45)
      days after the date hereof, a registration statement (on Form S-3 and/or
      SB-2, or other appropriate form of registration statement) under the
      Securities Act (the "Registration Statement"), at the sole expense of the
      Company (except as provided in Section 3(c) hereof), so as to permit a
      public offering and resale of the Shares under the Securities Act by
      Purchaser.

            (b) The Company shall cause the Registration Statement to become
      effective within the earlier of (i) one hundred twenty (120) days of the
      date of filing the Registration Statement, or (ii) five (5) days after
      receiving written notice of SEC clearance and will within said five (5)
      days request acceleration of effectiveness. The Company will notify
      Purchaser of the effectiveness of the Registration Statement within one
      Trading Day of such event.

            (c) The Company will maintain the Registration Statement or
      post-effective amendment filed under this Section 3 hereof effective under
      the Securities Act until the earliest of (i) the date that all the
      Registrable Securities have been disposed of pursuant to the Registration
      Statement, (ii) the date that all of the Registrable Securities have been
      sold pursuant to the Registration Statement, (iii) the date that all of
      the Registrable Securities have been otherwise transferred to persons who
      may trade such shares without restriction under the Securities Act, and
      the Company has delivered a new certificate or other evidence of ownership
      for such Shares not bearing a restrictive legend, (iv) the date that all
      of the Registrable Securities may be sold without any time, volume or
      manner limitations pursuant to Rule 144(k) or any similar provision then
      in effect under the Securities Act in the opinion of counsel to the
      Company, which counsel shall be reasonably acceptable to the Purchaser,
      (v) provided one year has elapsed since the Initial Closing or the
      Purchaser has sold all of the Warrant Shares, 45 Trading Days after the
      Agreement is terminated pursuant to the Purchase Agreement (the
      "Effectiveness Period").

            (d) All fees, disbursements and out-of-pocket expenses and costs
      incurred by the Company in connection with the preparation and filing of
      the Registration Statement under subparagraph 3(a) and in complying with
      applicable securities and Blue Sky laws (including, without limitation,
      all attorneys' fees of the Company) shall be borne by the Company. The
      Purchaser shall bear the cost of underwriting and/or brokerage discounts,
      fees and commissions, if any, applicable to the Shares being registered
      and the fees and expenses of its counsel.

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            (e) The Purchaser and its counsel shall have a reasonable period,
      not to exceed five (5) Trading Days, to review the proposed Registration
      Statement or any amendment thereto, prior to filing with the Commission,
      and the Company shall provide the Purchaser with copies of any comment
      letters received from the Commission with respect thereto within two (2)
      Trading Days of receipt thereof.

            (f) The Company shall make reasonably available for inspection by
      Purchaser, any underwriter participating in any disposition pursuant to
      the Registration Statement, and any attorney, accountant or other agent
      retained by the Purchaser or any such underwriter all relevant financial
      and other records, pertinent corporate documents and properties of the
      Company and its subsidiaries, and cause the Company's officers, directors
      and employees to supply all information reasonably requested by the
      Purchaser or any such underwriter, attorney, accountant or agent in
      connection with the Registration Statement, in each case, as is customary
      for due diligence examinations; provided, however, that all records,
      information and documents that are designated in writing by the Company,
      in good faith, as confidential, proprietary or containing any material
      non-public information shall be kept confidential by the Purchaser and any
      such underwriter, attorney, accountant or agent, unless such disclosure is
      made pursuant to judicial process in a court proceeding (after first
      giving the Company an opportunity promptly to seek a protective order or
      otherwise limit the scope of the information sought to be disclosed) or is
      required by law, or such records, information or documents become
      available to the public generally or through a third party not in
      violation of an accompanying obligation of confidentiality. If the
      foregoing inspection and information gathering would otherwise disrupt the
      Company's conduct of its business, such inspection and information
      gathering shall, to the maximum extent possible, be coordinated on behalf
      of the Purchaser and the other parties entitled thereto by one firm of
      counsel designed by and on behalf of the majority in interest of Purchaser
      and other parties.

            (g) The Company shall qualify any of the Shares for sale in such
      states as the Purchaser reasonably designates and shall furnish
      indemnification in the manner provided in Section 6 hereof. However, the
      Company shall not be required to qualify in any state which will require
      an escrow or other restriction relating to the Company and/or the sellers,
      or which will require the Company to qualify to do business in such state
      or require the Company to file therein any general consent to service of
      process.

            (h) The Company at its expense will supply the Purchaser with copies
      of the Registration Statement and the final prospectus included therein
      (the "Prospectus") and other related documents in such quantities as may
      be reasonably requested by the Purchaser.

            (i) The Company shall not be required by this Section 3 to include
      the Purchaser's Shares in any Registration Statement which is to be filed
      if, in the opinion of counsel for both the Purchaser and the Company (or,
      should they not agree, in the opinion of another counsel experienced in
      securities law matters acceptable to counsel for the Purchaser and the
      Company) the proposed offering or other transfer as to which such
      registration is requested is exempt from applicable federal and state
      securities laws and would result in all purchasers or transferees

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      obtaining securities which are not "restricted securities", as defined in
      Rule 144 under the Securities Act.

            (j) If at any time or from time to time after the effective date of
      the Registration Statement, the Company notifies the Purchaser in writing
      of the existence of a Potential Material Event (as defined in Section 3(k)
      below), the Purchaser shall not offer or sell any Shares or engage in any
      other transaction involving or relating to Shares, from the time of the
      giving of notice with respect to a Potential Material Event until the
      Purchaser receives written notice from the Company that such Potential
      Material Event either has been disclosed to the public or no longer
      constitutes a Potential Material Event (the "Suspension Period").
      Notwithstanding anything herein to the contrary, if a Suspension Period
      occurs at any time during any period commencing on a Trading Day a Draw
      Down Notice is deemed delivered and ending ten (10) Trading Days following
      the end of the corresponding Draw Down Pricing Period, then the Company
      must compensate the Purchaser for any net decline in the market value of
      any Shares purchased, or committed to be purchased, by the Purchaser
      pursuant to such recent Draw Down Pricing Period through the end of such
      Suspension Period. Net decline shall be calculated as the difference
      between the highest VWAP during the applicable Suspension Period and the
      VWAP on the Trading Day immediately following a properly delivered notice
      to the Purchaser that such Suspension Period has ended. If a Potential
      Material Event shall occur prior to the date the Registration Statement is
      filed, then the Company's obligation to file the Registration Statement
      shall be delayed without penalty for not more than thirty (30) calendar
      days. The Company must give Purchaser notice in writing of the existence
      of a Potential Material Event promptly upon knowledge that such an event
      exists and, where possible, at least two (2) days prior to the first day
      of a Suspension Period, if lawful to do so.

            (k) "Potential Material Event" means pursuant to applicable law, the
      Company is required to file a post-effective amendment to the Registration
      Statement because the Company experiences a fundamental change, must
      change the plan of distribution to the Prospectus, or must update the
      information included in the Prospectus pursuant to Section 10(a)(3) of the
      Securities Act.

         Section 4. Cooperation with Company. The Purchaser will cooperate with
the Company in all respects in connection with this Agreement, including timely
supplying all information reasonably requested by the Company (which shall
include all information regarding the Purchaser and proposed manner of sale of
the Registrable Securities required to be disclosed in the Registration
Statement) and executing and returning all documents reasonably requested in
connection with the registration and sale of the Registrable Securities and
entering into and performing its obligations under any underwriting agreement,
if the offering is an underwritten offering, in usual and customary form, with
the managing underwriter or underwriters of such underwritten offering. The
Purchaser shall consent to be named as an underwriter in the Registration
Statement. The Purchaser acknowledges that in accordance with current Commission
policy, the Purchaser will be named as the underwriter of the Shares in the
Registration Statement.

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         Section 5. Registration Procedures. If and whenever the Company is
required by any of the provisions of this Agreement to effect the registration
of any of the Registrable Securities under the Securities Act, the Company shall
(except as otherwise provided in this Agreement), as expeditiously as possible,
subject to the Purchaser's assistance and cooperation as reasonably required:

            (a) (i) prepare and file with the Commission such amendments and
      supplements to the Registration Statement and the Prospectus as may be
      necessary to keep such registration statement effective and to comply with
      the provisions of the Securities Act with respect to the sale or other
      disposition of all securities covered by such registration statement
      whenever the Purchaser of such Registrable Securities shall desire to sell
      or otherwise dispose of the same (including prospectus supplements with
      respect to the sales of securities from time to time in connection with a
      registration statement pursuant to Rule 415 promulgated under the
      Securities Act) and (ii) take all lawful action such that each of (A) the
      Registration Statement and any amendment thereto does not, when it becomes
      effective, contain an untrue statement of a material fact or omit to state
      a material fact required to be stated therein or necessary to make the
      statements therein not misleading and (B) the Prospectus, and any
      amendment or supplement thereto, does not at any time during the
      Effectiveness Period include an untrue statement of a material fact or
      omit to state a material fact required to be stated therein or necessary
      to make the statements therein, in light of the circumstances under which
      they were made, not misleading;

            (b) (i) prior to the filing with the Commission of any Registration
      Statement (including any amendments thereto) and the distribution or
      delivery of the Prospectus (including any supplements thereto), provide
      draft copies thereof to the Purchaser and reflect in such documents all
      such comments as the Purchaser (and its counsel) reasonably may propose
      and (ii) furnish to the Purchaser such numbers of copies of the Prospectus
      including a preliminary prospectus or any amendment or supplement to the
      Prospectus, as applicable, in conformity with the requirements of the
      Securities Act, and such other documents, as the Purchaser may reasonably
      request in order to facilitate the public sale or other disposition of the
      Registrable Securities;

            (c) comply with the New York blue sky laws with respect to the
      Registrable Securities (subject to the limitations set forth in Section
      3(g) above), and do any and all other acts and things which may be
      reasonably necessary or advisable to enable the Purchaser to consummate
      the public sale or other disposition in such jurisdiction of the
      Registrable Securities;

            (d) list such Registrable Securities on the Principal Market, and
      any other exchange on which the Common Stock of the Company is then
      listed, if the listing of such Registrable Securities is then permitted
      under the rules of such exchange or the Nasdaq Stock Market;

            (e) notify the Purchaser at any time when the Prospectus is required
      to be delivered under the Securities Act, of the happening of any event of
      which it has knowledge as a result of which the Prospectus, as then in

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      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, and the Company shall prepare and file a curative amendment
      under Section 5(a) as quickly as commercially possible and the period
      beginning on the date of notice until the curative amendment or curative
      supplement is filed shall be deemed a Suspension period and the Company
      shall compensate the Purchaser as set forth in Section 3(j) herein;

            (f) as promptly as practicable after becoming aware of such event,
      notify the Purchaser (or, in the event of an underwritten offering, the
      managing underwriters) of the issuance by the Commission or any state
      authority of any stop order or other suspension of the effectiveness of
      the Registration Statement at the earliest possible time and take all
      lawful action to effect the withdrawal, rescission or removal of such stop
      order or other suspension;

            (g) take all such other lawful actions reasonably necessary to
      expedite and facilitate the disposition by the Purchaser of its
      Registrable Securities in accordance with the intended methods therefor
      provided in the Prospectus which are customary for issuers to perform
      under the circumstances;

            (h) in the event of an underwritten offering, promptly include or
      incorporate in a prospectus supplement or post-effective amendment to the
      Registration Statement such information as the managing underwriters
      reasonably agree should be included therein and to which the Company does
      not reasonably object and make all required filings of such prospectus
      supplement or post-effective amendment as soon as practicable after it is
      notified of the matters to be included or incorporated in such prospectus
      supplement or post-effective amendment; and

            (i) maintain a transfer agent for its Common Stock.

         Section 6. Indemnification.

            (a) The Company agrees to indemnify and hold harmless the Purchaser
      and each person, if any, who controls the Purchaser within the meaning of
      the Securities Act ("Distributing Purchaser") against any losses, claims,
      damages or liabilities, joint or several (which shall, for all purposes of
      this Agreement, include, but not be limited to, all reasonable costs of
      defense and investigation and all reasonable attorneys' fees), to which
      the Distributing Purchaser may become subject, under the Securities Act or
      otherwise, insofar as such losses, claims, damages or liabilities (or
      actions in respect thereof) arise out of or are based upon any untrue
      statement or alleged untrue statement of any material fact contained in
      the Registration Statement, or any related preliminary prospectus, the
      Prospectus or amendment or supplement thereto, or arise out of or are
      based upon the omission or alleged omission to state therein a material
      fact required to be stated therein or necessary to make the statements
      therein in light of the circumstances when made not misleading; provided,
      however, that the Company will not be liable in any such case to the
      extent that any such loss, claim, damage or liability arises out of or is

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      based upon an untrue statement or alleged untrue statement or omission or
      alleged omission made in the Registration Statement, preliminary
      prospectus, the Prospectus or amendment or supplement thereto in reliance
      upon, and in conformity with, written information furnished to the Company
      by the Distributing Purchaser specifically for use in the preparation
      thereof. This Section 6(a) shall not inure to the benefit of any
      Distributing Purchaser with respect to any person asserting such loss,
      claim, damage or liability who purchased the Registrable Securities which
      are the subject thereof if the Distributing Purchaser failed to send or
      give a copy of the Prospectus to such person at or prior to the written
      confirmation to such person of the sale of such Registrable Securities,
      where the Distributing Purchaser was obligated to do so under the
      Securities Act or the rules and regulations promulgated thereunder. This
      indemnity agreement will be in addition to any liability which the Company
      may otherwise have.

            (b) Each Distributing Purchaser agrees that it will indemnify and
      hold harmless the Company, and each officer, director of the Company or
      person, if any, who controls the Company within the meaning of the
      Securities Act, against any losses, claims, damages or liabilities (which
      shall, for all purposes of this Agreement, include, but not be limited to,
      all reasonable costs of defense and investigation and all reasonable
      attorneys' fees) to which the Company or any such officer, director or
      controlling person may become subject under the Securities Act or
      otherwise, insofar as such losses, claims, damages or liabilities (or
      actions in respect thereof) arise out of or are based upon any untrue
      statement or alleged untrue statement of any material fact contained in
      the Registration Statement, or any related preliminary prospectus, the
      Prospectus or amendment or supplement thereto, or arise out of or are
      based upon the omission or the alleged omission to state therein a
      material fact required to be stated therein or necessary to make the
      statements therein not misleading, but in each case only to the extent
      that such untrue statement or alleged untrue statement or omission or
      alleged omission was made in the Registration Statement, preliminary
      prospectus, the Prospectus or amendment or supplement thereto in reliance
      upon, and in conformity with, written information furnished to the Company
      by such Distributing Purchaser specifically for use in the preparation
      thereof. This indemnity agreement will be in addition to any liability
      which the Distributing Purchaser may otherwise have. Notwithstanding
      anything to the contrary herein, the Distributing Purchaser shall not be
      liable under this Section 6(b) for any amount in excess of the gross
      proceeds to such Distributing Purchaser as a result of the sale of
      Registrable Securities pursuant to the Registration Statement.

            (c) Promptly after receipt by an indemnified party under this
      Section 6 of notice of the commencement of any action, such indemnified
      party will, if a claim in respect thereof is to be made against the
      indemnifying party under this Section 6, notify the indemnifying party of
      the commencement thereof; but the omission so to notify the indemnifying
      party will not relieve the indemnifying party from any liability which it
      may have to any indemnified party except to the extent of actual prejudice
      demonstrated by the indemnifying party. In case any such action is brought
      against any indemnified party, and it notifies the indemnifying party of
      the commencement thereof, the indemnifying party will be entitled to
      participate in, and, to the extent that it may wish, jointly with any
      other indemnifying party similarly notified, assume the defense thereof,
      subject to the provisions herein stated and after notice from the

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      indemnifying party to such indemnified party of its election so to assume
      the defense thereof, the indemnifying party will not be liable to such
      indemnified party under this Section 6 for any legal or other expenses
      subsequently incurred by such indemnified party in connection with the
      defense thereof other than reasonable costs of investigation, unless the
      indemnifying party shall not pursue the action to its final conclusion.
      The indemnified party shall have the right to employ separate counsel in
      any such action and to participate in the defense thereof, but the fees
      and expenses of such counsel shall not be at the expense of the
      indemnifying party if the indemnifying party has assumed the defense of
      the action with counsel reasonably satisfactory to the indemnified party;
      provided that if the indemnified party is the Distributing Purchaser, the
      fees and expenses of such counsel shall be at the expense of the
      indemnifying party if (i) the employment of such counsel has been
      specifically authorized in writing by the indemnifying party, or (ii) the
      named parties to any such action (including any impleaded parties) include
      both the Distributing Purchaser and the indemnifying party and the
      Distributing Purchaser shall have been advised by such counsel in writing
      that there may be one or more legal defenses available to the indemnifying
      party different from or in conflict with any legal defenses which may be
      available to the Distributing Purchaser (in which case the indemnifying
      party shall not have the right to assume the defense of such action on
      behalf of the Distributing Purchaser, it being understood, however, that
      the indemnifying party shall, in connection with any one such action or
      separate but substantially similar or related actions in the same
      jurisdiction arising out of the same general allegations or circumstances,
      be liable only for the reasonable fees and expenses of one separate firm
      of attorneys for the Distributing Purchaser, which firm shall be
      designated in writing by the Distributing Purchaser and be approved by the
      indemnifying party). No settlement of any action against an indemnified
      party shall be made without the prior written consent of the indemnified
      party, which consent shall not be unreasonably withheld.

            All fees and expenses of the indemnified party (including reasonable
      costs of defense and investigation in a manner not inconsistent with this
      Section and all reasonable attorneys' fees and expenses) shall be promptly
      paid to the indemnified party, as incurred; provided, that the
      indemnifying party may require such indemnified party to undertake to
      reimburse all such fees and expenses to the extent it is finally
      judicially determined that such indemnified party is not entitled to
      indemnification hereunder.

         Section 7. Contribution. In order to provide for just and equitable
contribution under the Securities Act in any case in which (i) the indemnified
party makes a claim for indemnification pursuant to Section 6 hereof but is
judicially determined (by the entry of a final judgment or decree by a court of
competent jurisdiction and the expiration of time to appeal or the denial of the
last right of appeal) that such indemnification may not be enforced in such case
notwithstanding the fact that the express provisions of Section 6 hereof provide
for indemnification in such case, or (ii) contribution under the Securities Act
may be required on the part of any indemnified party, then the Company and the
applicable Distributing Purchaser shall contribute to the aggregate losses,
claims, damages or liabilities to which they may be subject (which shall, for
all purposes of this Agreement, include, but not be limited to, all reasonable
costs of defense and investigation and all reasonable attorneys' fees), in
either such case (after contribution from others) on the basis of relative fault

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as well as any other relevant equitable considerations. The relative fault shall
be determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state
a material fact relates to information supplied by the Company on the one hand
or the applicable Distributing Purchaser on the other hand, and the parties'
relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission. The Company and the Distributing Purchaser
agree that it would not be just and equitable if contribution pursuant to this
Section 7 were determined by pro rata allocation or by any other method of
allocation which does not take account of the equitable considerations referred
to in this Section 7. The amount paid or payable by an indemnified party as a
result of the losses, claims, damages or liabilities (or actions in respect
thereof) referred to above in this Section 7 shall be deemed to include any
legal or other expenses reasonably incurred by such indemnified party in
connection with investigating or defending any such action or claim. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation.

         Notwithstanding any other provision of this Section 7, in no event
shall any (i) Purchaser be required to undertake liability to any person under
this Section 7 for any amounts in excess of the dollar amount of the gross
proceeds to be received by the Purchaser from the sale of the Purchaser's
Registrable Securities (after deducting any fees, discounts and commissions
applicable thereto) pursuant to any Registration Statement under which such
Registrable Securities are or were to be registered under the Securities Act and
(ii) underwriter be required to undertake liability to any person hereunder for
any amounts in excess of the aggregate discount, commission or other
compensation payable to such underwriter with respect to the Registrable
Securities underwritten by it and distributed pursuant to the Registration
Statement.

         Section 8. Notices. All notices, demands, requests, consents,
approvals, and other communications required or permitted hereunder shall be in
writing and, unless otherwise specified herein, shall be delivered as set forth
in the Purchase Agreement.

         Section 9. Assignment. Neither this Agreement nor any rights of the
Purchaser or the Company hereunder may be assigned by either party to any other
person. Notwithstanding the foregoing, (a) the provisions of this Agreement
shall inure to the benefit of, and be enforceable by, any transferee of any of
the Common Stock purchased by the Purchaser pursuant to the Purchase Agreement
other than through open-market sales, and (b) upon the prior written consent of
the Company, which consent shall not be unreasonably withheld or delayed in the
case of an assignment to an affiliate of the Purchaser, the Purchaser's interest
in this Agreement may be assigned at any time, in whole or in part, to any other
person or entity (including any affiliate of the Purchaser) who agrees to be
bound hereby.

         Section 10. Counterparts/Facsimile. This Agreement may be executed in
two or more counterparts, each of which shall constitute an original, but all of
which, when together shall constitute but one and the same instrument, and shall
become effective when one or more counterparts have been signed by each party
hereto and delivered to the other party. In lieu of the original, a facsimile

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transmission or copy of the original shall be as effective and enforceable as
the original.

         Section 11. Remedies and Severability. The remedies provided in this
Agreement are cumulative and not exclusive of any remedies provided by law. If
any term, provision, covenant or restriction of this Agreement is held by a
board of arbitration or a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions set forth herein shall remain in full force and
effect and shall in no way be affected, impaired or invalidated, and the parties
hereto shall use their best efforts to find and employ an alternative means to
achieve the same or substantially the same result as that contemplated by such
term, provision, covenant or restriction. It is hereby stipulated and declared
to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of those
that may be hereafter declared invalid, illegal, void or unenforceable.

         Section 12. Conflicting Agreements. The Company shall not enter into
any agreement with respect to its securities that is inconsistent with the
rights granted to the purchasers of Registrable Securities in this Agreement or
otherwise prevents the Company from complying with all of its obligations
hereunder.

         Section 13. Headings. The headings in this Agreement are for reference
purposes only and shall not
affect in any way the meaning or interpretation of this Agreement.

         Section 14. Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York applicable to
contracts made in New York by persons domiciled in New York City and without
regard to its principles of conflicts of laws. Any action may be brought as set
forth in the Purchase Agreement. The Company and the Purchaser agree to submit
themselves to the in personam jurisdiction of the state and federal courts
situated within the Southern District of the State of New York with regard to
any controversy arising out of or relating to this Agreement. Any party shall
have the right to seek injunctive relief from any court of competent
jurisdiction in any case where such relief is available. Any dispute under this
Agreement shall be submitted to arbitration under the American Arbitration
Association (the "AAA") in New York City, New York, and shall be finally and
conclusively determined by the decision of a board of arbitration consisting of
three (3) members (hereinafter referred to as the "Board of Arbitration")
selected as according to the rules governing the AAA. The Board of Arbitration
shall meet on consecutive business days in New York City, New York, and shall
reach and render a decision in writing (concurred in by a majority of the
members of the Board of Arbitration) with respect to the amount, if any, which
the losing party is required to pay to the other party in respect of a claim
filed. In connection with rendering its decisions, the Board of Arbitration
shall adopt and follow the laws of the State of New York. To the extent
practical, decisions of the Board of Arbitration shall be rendered no more than
thirty (30) calendar days following commencement of proceedings with respect
thereto. The Board of Arbitration shall cause its written decision to be
delivered to all parties involved in the dispute. The Board of Arbitration shall
be authorized and is directed to enter a default judgment against any party
refusing to participate in the arbitration proceeding within thirty days of any
deadline for such participation. Any decision made by the Board of Arbitration
(either prior to or after the expiration of such thirty (30) calendar day

                                       10
<PAGE>
period) shall be final, binding and conclusive on the parties to the dispute,
and entitled to be enforced to the fullest extent permitted by law and entered
in any court of competent jurisdiction. The prevailing party shall be awarded
its costs, including attorneys' fees, from the non-prevailing party as part of
the arbitration award. Any party shall have the right to seek injunctive relief
from any court of competent jurisdiction in any case where such relief is
available. The prevailing party in such injunctive action shall be awarded its
costs, including attorney's fees, from the non-prevailing party.

                            [SIGNATURE PAGE FOLLOWS]

                                       11
<PAGE>

                [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

         IN WITNESS WHEREOF, the parties hereto have caused this Registration
Rights Agreement to be duly executed, on this ___ day of March, 2001

                                        METROPOLITAN HEALTH NETWORKS, INC.

                                        By:
                                               -------------------------------
                                               Fred Sternberg, President & CEO

                                        COPIRA INVESTMENTS INC.

                                        By:
                                               -------------------------------
                                               David Sims, Director

                                       12<PAGE>

                                                                    EXHIBIT 10.7

NEITHER THIS WARRANT NOR THE SHARES ISSUABLE UPON EXERCISE HEREOF HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT")
OR ANY OTHER APPLICABLE SECURITIES LAWS IN RELIANCE UPON AN EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH OTHER SECURITIES LAWS.
NEITHER THIS WARRANT NOR THE SHARES ISSUABLE UPON EXERCISE HEREOF MAY BE SOLD,
PLEDGED, TRANSFERRED, ENCUMBERED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR IN A TRANSACTION
WHICH IS EXEMPT FROM REGISTRATION UNDER THE PROVISIONS OF THE SECURITIES ACT AND
ANY APPLICABLE STATE LAWS.

                             STOCK PURCHASE WARRANT

                  To Purchase 470,000 Shares of Common Stock of

                       METROPOLITAN HEALTH NETWORKS, INC.

                  THIS CERTIFIES that, for value received, Copira Investments
Inc. (the "Holder"), is entitled, upon the terms and subject to the limitations
on exercise and the conditions hereinafter set forth, at any time on or after
March 30, 2001 (the "Initial Exercise Date") and on or prior to the close of
business on March 30, 2004 (the "Termination Date") but not thereafter, to
subscribe for and purchase from Metropolitan Health Networks, Inc., a
corporation incorporated in the Florida (the "Company"), up to 470,000 shares
(the "Warrant Shares") of Common Stock, $0.001 par value per share, of the
Company (the "Common Stock"). The purchase price of one share of Common Stock
(the "Exercise Price") under this Warrant shall be $1.88. The Exercise Price and
the number of Warrant Shares for which the Warrant is exercisable shall be
subject to adjustment as provided herein. In the event of any conflict between
the terms of this Warrant and the Common Stock Purchase Agreement dated as of
March 30, 2001 pursuant to which this Warrant has been issued (the "Purchase
Agreement"), the Purchase Agreement shall control. Capitalized terms used and
not otherwise defined herein shall have the meanings set forth for such terms in
the Purchase Agreement.

                                       1
<PAGE>

                  1. Title to Warrant. Prior to the Termination Date and subject
to compliance with applicable laws, this Warrant and all rights hereunder are
transferable, subject to Section 7 herein, in whole or in part, at the office or
agency of the Company by the Holder in person or by duly authorized attorney,
upon surrender of this Warrant together with the Assignment Form annexed hereto
properly endorsed.

                  2. Authorization of Shares. The Company covenants that all
Warrant Shares which may be issued upon the exercise of the purchase rights
represented by this Warrant will, upon exercise of the purchase rights
represented by this Warrant, be duly authorized, validly issued, fully paid and
nonassessable and free from all taxes, liens and charges in respect of the issue
thereof (other than taxes in respect of any transfer occurring contemporaneously
with such issue).

                  3. Exercise of Warrant.

                           (a) Except as provided in Section 4 herein, exercise
         of the purchase rights represented by this Warrant may be made at any
         time or times on or after the Initial Exercise Date and on or before
         the close of business on the Termination Date by the surrender of this
         Warrant and the Notice of Exercise Form annexed hereto duly executed,
         at the office of the Company (or such other office or agency of the
         Company as it may designate by notice in writing to the registered
         Holder at the address of such Holder appearing on the books of the
         Company) and upon payment of the Exercise Price of the shares thereby
         purchased by wire transfer or cashier's check drawn on a United States
         bank, or by means of a cashless exercise, the Holder shall be entitled
         to receive a certificate for the number of Warrant Shares so purchased.
         Certificates for shares purchased hereunder shall be delivered to the
         Holder within three (3) Trading Days after the date on which this
         Warrant shall have been exercised as aforesaid. This Warrant shall be
         deemed to have been exercised and such certificate or certificates
         shall be deemed to have been issued, and Holder or any other person so
         designated to be named therein shall be deemed to have become a holder
         of record of such shares for all purposes, as of the date the Warrant
         has been exercised by payment to the Company of the Exercise Price and
         all taxes required to be paid by the Holder, if any, pursuant to
         Section 5 prior to the issuance of such shares, have been paid.

                           (b) If this Warrant shall have been exercised in
         part, the Company shall, at the time of delivery of the certificate or
         certificates representing Warrant Shares, deliver to Holder a new
         Warrant evidencing the rights of Holder to purchase the unpurchased
         Warrant Shares called for by this Warrant, which new Warrant shall in
         all other respects be identical with this Warrant.

                           (c) This Warrant shall also be exercisable by means
         of a "cashless exercise" in which the Holder shall be entitled to
         receive a certificate for the number of Warrant Shares equal to the
         quotient obtained by dividing [(A-B) (X)] by (A), where:

                                       2
<PAGE>

                           (A) = the average of the high and low trading prices
                           per share of Common Stock on the Trading Day
                           preceding the date of such election on the Nasdaq
                           Stock Market, or if the Common Stock is not traded on
                           the Nasdaq Stock Market, then the Principal Market in
                           terms of volume;

                           (B) =  the Exercise Price of this Warrant; and

                           (X) = the number of Warrant Shares issuable upon
                           exercise of this Warrant in accordance with the terms
                           of this Warrant and the Notice of Exercise.

                           (d) Notwithstanding anything herein to the contrary,
         in no event shall the Holder be permitted to exercise this Warrant for
         Warrant Shares to the extent that (i) the number of shares of Common
         Stock owned by such Holder (other than Warrant Shares issuable upon
         exercise of this Warrant) plus (ii) the number of Warrant Shares
         issuable upon exercise of this Warrant, would be equal to or exceed
         9.9% of the number of shares of Common Stock then issued and
         outstanding, including shares issuable upon exercise of this Warrant
         held by such Holder after application of this Section 3(d). As used
         herein, beneficial ownership shall be determined in accordance with
         Section 13(d) of the Exchange Act. To the extent that the limitation
         contained in this Section 3(d) applies, the determination of whether
         this Warrant is exercisable (in relation to other securities owned by
         the Holder) and of which a portion of this Warrant is exercisable shall
         be in the sole discretion of such Holder, and the submission of a
         Notice of Exercise shall be deemed to be such Holder's determination of
         whether this Warrant is exercisable (in relation to other securities
         owned by such Holder) and of which portion of this Warrant is
         exercisable, in each case subject to such aggregate percentage
         limitation, and the Company shall have no obligation to verify or
         confirm the accuracy of such determination. Nothing contained herein
         shall be deemed to restrict the right of a Holder to exercise this
         Warrant into Warrant Shares at such time as such exercise will not
         violate the provisions of this Section 3(d). The provisions of this
         Section 3(d) may be waived by the Holder upon, at the election of the
         Holder, with not less than 61 days' prior notice to the Company, and
         the provisions of this Section 3(d) shall continue to apply until such
         61st day (or such later date as may be specified in such notice of
         waiver). No exercise of this Warrant in violation of this Section 3(d)
         but otherwise in accordance with this Warrant shall affect the status
         of the Warrant Shares as validly issued, fully-paid and nonassessable.

                           (e) Commencing at any time after the date of the
         issuance of this Warrant, if (1) the closing bid price of the Common
         Shares on the Principal Market for any 20 consecutive trading days
         exceeds $4.00 (a "Trigger Period"), and (2) the Warrant Shares are
         either registered for resale pursuant to an effective registration
         statement naming the Holder as a selling shareholder thereunder or
         freely transferable without volume restrictions pursuant to Rule 144(k)
         promulgated under the Securities Act, as determined by counsel to the
         Company pursuant to a written opinion letter addressed and in form and
         substance acceptable to the Holder and the transfer agent for the
         Common Shares, then the Company shall have the right, not less than 5
         Trading Days after the conclusion of any such Trigger Period (the "Call
         Notice"), to call all of the then issuable Warrant

                                       3
<PAGE>

         Shares at a price of $0.05 per Warrant Share (the "Call Price"), on the
         date set forth in the Call Notice, but in no event earlier than 20 days
         following the date of the receipt by the Holder of the Call Notice (the
         "Call Date"). The Holder may exercise this Warrant at any time prior to
         the Call Date. Any portion of this Warrant not exercised by 12 p.m.
         (Eastern Standard or Eastern Daylight Time) on the Call Date shall no
         longer be exercisable and shall be returned to the Company (and, if not
         so returned, shall automatically be deemed canceled), and the Company,
         upon its receipt of the unexercised portion of this Warrant shall issue
         therefor in full and complete satisfaction of its obligations under
         such remaining portion of this Warrant to the Holder an amount equal to
         the number of Common Shares then issuable hereunder multiplied by the
         Call Price. The Call Price shall be mailed to such Holder at its
         address of record, and the Warrant shall be canceled.

                  4. No Fractional Shares or Scrip. No fractional shares or
scrip representing fractional shares shall be issued upon the exercise of this
Warrant. As to any fraction of a share which Holder would otherwise be entitled
to purchase upon such exercise, the Company shall pay a cash adjustment in
respect of such final fraction in an amount equal to such fraction multiplied by
the Exercise Price.

                  5. Charges, Taxes and Expenses. Issuance of certificates for
Warrant Shares shall be made without charge to the Holder for any issue or
transfer tax or other incidental expense in respect of the issuance of such
certificate, all of which taxes and expenses shall be paid by the Company, and
such certificates shall be issued in the name of the Holder or in such name or
names as may be directed by the Holder; provided, however, that in the event
certificates for Warrant Shares are to be issued in a name other than the name
of the Holder, this Warrant when surrendered for exercise shall be accompanied
by the Assignment Form attached hereto duly executed by the Holder; and the
Company may require, as a condition thereto, the payment of a sum sufficient to
reimburse it for any transfer tax incidental thereto.

                  6. Closing of Books. The Company will not close its
stockholder books or records in any manner which prevents the timely exercise of
this Warrant.

                  7. Transfer, Division and Combination.

                           (a) Subject to compliance with any applicable
         securities laws, transfer of this Warrant and all rights hereunder, in
         whole or in part, shall be registered on the books of the Company to be
         maintained for such purpose, upon surrender of this Warrant at the
         principal office of the Company, together with a written assignment of
         this Warrant substantially in the form attached hereto duly executed by
         the Holder or its agent or attorney and funds sufficient to pay any
         transfer taxes payable upon the making of such transfer. In the event
         that the Holder wishes to transfer a portion of this Warrant, the
         Holder shall transfer at least 100,000 shares underlying this Warrant
         to any such transferee. Upon such surrender and, if required, such
         payment, the Company shall execute and deliver a new Warrant or
         Warrants in the name of the assignee or assignees and in the
         denomination or denominations specified in such instrument of
         assignment, and shall issue to the assignor a new Warrant evidencing
         the portion of this Warrant not

                                       4
<PAGE>

         so assigned, and this Warrant shall promptly be cancelled. A Warrant,
         if properly assigned, may be exercised by a new holder for the purchase
         of Warrant Shares without having a new Warrant issued.

                           (b) This Warrant may be divided or combined with
         other Warrants upon presentation hereof at the aforesaid office of the
         Company, together with a written notice specifying the names and
         denominations in which new Warrants are to be issued, signed by the
         Holder or its agent or attorney. Subject to compliance with Section
         7(a), as to any transfer which may be involved in such division or
         combination, the Company shall execute and deliver a new Warrant or
         Warrants in exchange for the Warrant or Warrants to be divided or
         combined in accordance with such notice.

                           (c) The Company shall prepare, issue and deliver at
         its own expense (other than transfer taxes) the new Warrant or Warrants
         under this Section 7.

                           (d) The Company agrees to maintain, at its aforesaid
         office, books for the registration and the registration of transfer of
         the Warrants.

                  8. No Rights as Shareholder until Exercise. This Warrant does
not entitle the Holder to any voting rights or other rights as a shareholder of
the Company prior to the exercise hereof. Upon the surrender of this Warrant and
the payment of the aggregate Exercise Price or by means of a cashless exercise,
the Warrant Shares so purchased shall be and be deemed to be issued to such
Holder as the record owner of such shares as of the close of business on the
later of the date of such surrender or payment.

                  9. Loss, Theft, Destruction or Mutilation of Warrant. The
Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant
or any stock certificate relating to the Warrant Shares, and in case of loss,
theft or destruction, of indemnity or security reasonably satisfactory to it
(which shall not include the posting of any bond), and upon surrender and
cancellation of such Warrant or stock certificate, if mutilated, the Company
will make and deliver a new Warrant or stock certificate of like tenor and dated
as of such cancellation, in lieu of such Warrant or stock certificate.

                  10. Saturdays, Sundays, Holidays, etc. If the last or
appointed day for the taking of any action or the expiration of any right
required or granted herein shall be a Saturday, Sunday or a legal holiday, then
such action may be taken or such right may be exercised on the next succeeding
day not a Saturday, Sunday or legal holiday.

                  11. Adjustments of Exercise Price and Number of Warrant
Shares. (a) Stock Splits, etc. The number and kind of securities purchasable
upon the exercise of this Warrant and the Exercise Price shall be subject to
adjustment from time to time upon the happening of any of the following. In case
the Company shall (i) pay a dividend in shares of Common Stock or make a
distribution in shares of Common Stock to holders of its outstanding Common
Stock, (ii) subdivide its outstanding shares of Common Stock into a greater
number of shares, (iii) combine its outstanding shares of Common Stock into a
smaller number of shares of Common Stock, or (iv) issue any shares of its
capital stock in a reclassification of the Common Stock, then the

                                       5
<PAGE>

number of Warrant Shares purchasable upon exercise of this Warrant immediately
prior thereto shall be adjusted so that the Holder shall be entitled to receive
the kind and number of Warrant Shares or other securities of the Company which
it would have owned or have been entitled to receive had such Warrant been
exercised in advance thereof. Upon each such adjustment of the kind and number
of Warrant Shares or other securities of the Company which are purchasable
hereunder, the Holder shall thereafter be entitled to purchase the number of
Warrant Shares or other securities resulting from such adjustment at an Exercise
Price per Warrant Share or other security obtained by multiplying the Exercise
Price in effect immediately prior to such adjustment by the number of Warrant
Shares purchasable pursuant hereto immediately prior to such adjustment and
dividing by the number of Warrant Shares or other securities of the Company
resulting from such adjustment. An adjustment made pursuant to this paragraph
shall become effective immediately after the effective date of such event
retroactive to the record date, if any, for such event.

                  12. Reorganization, Reclassification, Merger, Consolidation or
Disposition of Assets. In case the Company shall reorganize its capital,
reclassify its capital stock, consolidate or merge with or into another
corporation (where the Company is not the surviving corporation or where there
is a change in or distribution with respect to the Common Stock of the Company),
or sell, transfer or otherwise dispose of all or substantially all its property,
assets or business to another corporation and, pursuant to the terms of such
reorganization, reclassification, merger, consolidation or disposition of
assets, shares of common stock of the successor or acquiring corporation, or any
cash, shares of stock or other securities or property of any nature whatsoever
(including warrants or other subscription or purchase rights) in addition to or
in lieu of common stock of the successor or acquiring corporation ("Other
Property"), are to be received by or distributed to the holders of Common Stock
of the Company, then the Holder shall have the right thereafter to receive, upon
exercise of this Warrant, the number of shares of Common Stock of the successor
or acquiring corporation or of the Company, if it is the surviving corporation,
and Other Property receivable upon or as a result of such reorganization,
reclassification, merger, consolidation or disposition of assets by a Holder of
the number of shares of Common Stock for which this Warrant is exercisable
immediately prior to such event. In case of any such reorganization,
reclassification, merger, consolidation or disposition of assets, the successor
or acquiring corporation (if other than the Company) shall expressly assume the
due and punctual observance and performance of each and every covenant and
condition of this Warrant to be performed and observed by the Company and all
the obligations and liabilities hereunder, subject to such modifications as may
be deemed appropriate (as determined in good faith by resolution of the Board of
Directors of the Company) in order to provide for adjustments of Warrant Shares
for which this Warrant is exercisable which shall be as nearly equivalent as
practicable to the adjustments provided for in this Section 12. For purposes of
this Section 12, "common stock of the successor or acquiring corporation" shall
include stock of such corporation of any class which is not preferred as to
dividends or assets over any other class of stock of such corporation and which
is not subject to redemption and shall also include any evidences of
indebtedness, shares of stock or other securities which are convertible into or
exchangeable for any such stock, either immediately or upon the arrival of a
specified date or the happening of a specified event and any warrants or other
rights to subscribe for or purchase any such stock. The foregoing provisions of
this Section 12 shall similarly apply to successive reorganizations,
reclassifications, mergers, consolidations or disposition of assets.

                                       6
<PAGE>

                  13. Voluntary Adjustment by the Company. The Company may at
any time during the term of this Warrant reduce the then current Exercise Price
to any amount and for any period of time deemed appropriate by the Board of
Directors of the Company.

                  14. Notice of Adjustment. Whenever the number of Warrant
Shares or number or kind of securities or other property purchasable upon the
exercise of this Warrant or the Exercise Price is adjusted, as herein provided,
the Company shall promptly mail by registered or certified mail, return receipt
requested, to the Holder notice of such adjustment or adjustments setting forth
the number of Warrant Shares (and other securities or property) purchasable upon
the exercise of this Warrant and the Exercise Price of such Warrant Shares (and
other securities or property) after such adjustment, setting forth a brief
statement of the facts requiring such adjustment and setting forth the
computation by which such adjustment was made. Such notice, in the absence of
manifest error, shall be conclusive evidence of the correctness of such
adjustment.

                  15. Notice of Corporate Action. If at any time:

                           (a) the Company shall take a record of the holders of
         its Common Stock for the purpose of entitling them to receive a
         dividend or other distribution, or any right to subscribe for or
         purchase any evidences of its indebtedness, any shares of stock of any
         class or any other securities or property, or to receive any other
         right, or

                           (b) there shall be any capital reorganization of the
         Company, any reclassification or recapitalization of the capital stock
         of the Company or any consolidation or merger of the Company with, or
         any sale, transfer or other disposition of all or substantially all the
         property, assets or business of the Company to, another corporation or,

                           (c) there shall be a voluntary or involuntary
         dissolution, liquidation or winding up of the Company;

then, in any one or more of such cases, the Company shall give to Holder (i) at
least 20 days' prior written notice of the date on which a record date shall be
selected for such dividend, distribution or right or for determining rights to
vote in respect of any such reorganization, reclassification, merger,
consolidation, sale, transfer, disposition, liquidation or winding up, and (ii)
in the case of any such reorganization, reclassification, merger, consolidation,
sale, transfer, disposition, dissolution, liquidation or winding up, at least 20
days' prior written notice of the date when the same shall take place. Such
notice in accordance with the foregoing clause also shall specify (i) the date
on which any such record is to be taken for the purpose of such dividend,
distribution or right, the date on which the holders of Common Stock shall be
entitled to any such dividend, distribution or right, and the amount and
character thereof, and (ii) the date on which any such reorganization,
reclassification, merger, consolidation, sale, transfer, disposition,
dissolution, liquidation or winding up is to take place and the time, if any
such time is to be fixed, as of which the holders of Common Stock shall be
entitled to exchange their Warrant Shares for securities or other property
deliverable upon such disposition, dissolution, liquidation or winding up. Each
such written notice shall be sufficiently given if addressed to

                                       7
<PAGE>

Holder at the last address of Holder appearing on the books of the Company and
delivered in accordance with Section 17(d).

                  16. Authorized Shares. The Company covenants that during the
period the Warrant is outstanding, it will reserve from its authorized and
unissued Common Stock a sufficient number of shares to provide for the issuance
of the Warrant Shares upon the exercise of any purchase rights under this
Warrant. The Company further covenants that its issuance of this Warrant shall
constitute full authority to its officers who are charged with the duty of
executing stock certificates to execute and issue the necessary certificates for
the Warrant Shares upon the exercise of the purchase rights under this Warrant.
The Company will take all such reasonable action as may be necessary to assure
that such Warrant Shares may be issued as provided herein without violation of
any applicable law or regulation, or of any requirements of the Principal Market
upon which the Common Stock may be listed.

                           The Company shall not by any action, including,
without limitation, amending its certificate of incorporation or through any
reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms of this Warrant, but will at all
times in good faith assist in the carrying out of all such terms and in the
taking of all such actions as may be necessary or appropriate to protect the
rights of Holder against impairment. Without limiting the generality of the
foregoing, the Company will (a) not increase the par value of any Warrant Shares
above the amount payable therefor upon such exercise immediately prior to such
increase in par value, (b) take all such action as may be necessary or
appropriate in order that the Company may validly and legally issue fully paid
and nonassessable Warrant Shares upon the exercise of this Warrant, and (c) use
commercially reasonable efforts to obtain all such authorizations, exemptions or
consents from any public regulatory body having jurisdiction thereof as may be
necessary to enable the Company to perform its obligations under this Warrant.

                           Before taking any action which would result in an
adjustment in the number of Warrant Shares for which this Warrant is exercisable
or in the Exercise Price, the Company shall obtain all such authorizations or
exemptions thereof, or consents thereto, as may be necessary from any public
regulatory body or bodies having jurisdiction thereof.

                  17. Miscellaneous.

                           (a) Jurisdiction. This Warrant shall constitute a
         contract under the laws of New York, without regard to its conflict of
         law, principles or rules, and be subject to arbitration pursuant to the
         terms set forth in the Purchase Agreement.

                           (b) Restrictions. The Holder acknowledges that the
         Warrant Shares acquired upon the exercise of this Warrant, if not
         registered, will have restrictions upon resale imposed by state and
         federal securities laws.

                           (c) Nonwaiver and Expenses. No course of dealing or
         any delay or failure to exercise any right hereunder on the part of
         Holder shall operate as a waiver of such right or otherwise prejudice
         Holder's rights, powers or remedies, notwithstanding all

                                       8
<PAGE>

         rights hereunder terminate on the Termination Date. If the Company
         willfully and knowingly fails to comply with any provision of this
         Warrant, which results in any material damages to the Holder, the
         Company shall pay to Holder such amounts as shall be sufficient to
         cover any costs and expenses including, but not limited to, reasonable
         attorneys' fees, including those of appellate proceedings, incurred by
         Holder in collecting any amounts due pursuant hereto or in otherwise
         enforcing any of its rights, powers or remedies hereunder.

                           (d) Notices. Any notice, request or other document
         required or permitted to be given or delivered to the Holder by the
         Company shall be delivered in accordance with the notice provisions of
         the Purchase Agreement.

                           (e) Limitation of Liability. No provision hereof, in
         the absence of affirmative action by Holder to purchase Warrant Shares,
         and no enumeration herein of the rights or privileges of Holder, shall
         give rise to any liability of Holder for the purchase price of any
         Common Stock or as a stockholder of the Company, whether such liability
         is asserted by the Company or by creditors of the Company.

                           (f) Remedies. Holder, in addition to being entitled
         to exercise all rights granted by law, including recovery of damages,
         will be entitled to specific performance of its rights under this
         Warrant. The Company agrees that monetary damages would not be adequate
         compensation for any loss incurred by reason of a breach by it of the
         provisions of this Warrant and hereby agrees to waive the defense in
         any action for specific performance that a remedy at law would be
         adequate.

                           (g) Successors and Assigns. Subject to applicable
         securities laws, this Warrant and the rights and obligations evidenced
         hereby shall inure to the benefit of and be binding upon the successors
         of the Company and the successors and permitted assigns of Holder. The
         provisions of this Warrant are intended to be for the benefit of all
         Holders from time to time of this Warrant and shall be enforceable by
         any such Holder or holder of Warrant Shares.

                           (h) Amendment. This Warrant may be modified or
         amended or the provisions hereof waived with the written consent of the
         Company and the Holder.

                           (i) Severability. Wherever possible, each provision
         of this Warrant shall be interpreted in such manner as to be effective
         and valid under applicable law, but if any provision of this Warrant
         shall be prohibited by or invalid under applicable law, such provision
         shall be ineffective to the extent of such prohibition or invalidity,
         without invalidating the remainder of such provisions or the remaining
         provisions of this Warrant.

                           (j) Headings. The headings used in this Warrant are
         for the convenience of reference only and shall not, for any purpose,
         be deemed a part of this Warrant.

                                       9
<PAGE>

                  IN WITNESS WHEREOF, the Company has caused this Warrant to be
executed by its officer thereunto duly authorized.

Dated: March __, 2001
                                        METROPOLITAN HEALTH NETWORKS, INC.

                                        By:
                                           -------------------------------------
                                              Fred Sternberg, President & CEO

                                       10
<PAGE>

                               NOTICE OF EXERCISE

To:      Metropolitan Health Networks, Inc.

                  (1) The undersigned hereby elects to purchase ________ Warrant
Shares (the "Common Stock"), of Metropolitan Health Networks, Inc. pursuant to
the terms of the attached Warrant, and tenders herewith payment of the exercise
price in full, together with all applicable transfer taxes, if any.

                  (2) Please issue a certificate or certificates representing
said Warrant Shares in the name of the undersigned or in such other name as is
specified below:

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

The Warrant Shares shall be delivered to the following:

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

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

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

                                           COPIRA INVESTMENTS INC.

                                           By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                           Dated:
                                                 -------------------------------

<PAGE>

                   NOTICE OF EXERCISE OF COMMON STOCK WARRANT
                    PURSUANT TO CASHLESS EXERCISE PROVISIONS

To: Metropolitan Health Networks, Inc.

Aggregate Price of Warrant Before Exercise:  $_______
Aggregate Price Being Exercised:  $______
Exercise Price:  $______ per share
Number of Shares of Common Stock to be Issued Under this Notice:  ________
Remaining Aggregate Price (if any) After Issuance:  $_______

Gentlemen:

                  The undersigned, registered Holder of the Warrant delivered
herewith, hereby irrevocably exercises such Warrant for, and purchases
thereunder, shares of the Common Stock of Metropolitan Health Networks, Inc., a
Florida corporation, as provided below. Capitalized terms used herein, unless
otherwise defined herein, shall have the meanings given in the Warrant. The
portion of the Exercise Price (as defined in the Warrant) to be applied toward
the purchase of Common Stock pursuant to this Notice of Exercise is $_______,
thereby leaving a remaining Exercise Price (if any) equal to $________. Such
exercise shall be pursuant to the cashless exercise provisions of Section 3 of
the Warrant; therefore, Holder makes no payment with this Notice of Exercise.
The number of shares to be issued pursuant to this exercise shall be determined
by reference to the formula in Section 3 of the Warrant which, by reference to
Section 3, requires the use of the high and low trading price of the Company's
Common Stock on the Trading Day preceding the date of such election. The high
and low trading price of the Company's Common Stock has been determined by
Holder to be $______ and $_________, respectively, which figure is acceptable to
Holder for calculations of the number of shares of Common Stock issuable
pursuant to this Notice of Exercise. Holder requests that the certificates for
the purchased shares of Common Stock be issued in the name of
_________________________ and delivered to ____________________________________.
To the extent the foregoing exercise is for less than the full Aggregate Price
of the Warrant, a replacement Warrant representing the remainder of the
Aggregate Price (and otherwise of like form, tenor and effect) shall be
delivered

                                       2
<PAGE>

to Holder along with the share certificate evidencing the Common Stock issued in
response to this Notice of Exercise.

                                                [Purchaser]

                                                By:
                                                   -----------------------------
                                                   Name:
                                                   Title:

                                                Date:

                                      NOTE

                  The execution to the foregoing Notice of Exercise must exactly
correspond to the name of the Holder on the Warrant

                                       3
<PAGE>

                                 ASSIGNMENT FORM

                    (To assign the foregoing warrant, execute
                   this form and supply required information.
                 Do not use this form to exercise the warrant.)

                  FOR VALUE RECEIVED, the foregoing Warrant and all rights
evidenced thereby are hereby assigned to

                                                whose address is
-----------------------------------------------

                                                               .
---------------------------------------------------------------

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

                                                 Dated:  ______________, _______

                           Holder's Signature:
                                               ---------------------------------

                           Holder's Address:
                                               ---------------------------------

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

Signature Guaranteed:
                     -----------------------------------------------

NOTE: The signature to this Assignment Form must correspond with the name as it
appears on the face of the Warrant, without alteration or enlargement or any
change whatsoever, and must be guaranteed by a bank or trust company. Officers
of corporations and those acting in an fiduciary or other representative
capacity should file proper evidence of authority to assign the foregoing
Warrant.

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