Document:

AMENDMENT

TO AMENDED AND RESTATED
STOCKHOLDERS AGREEMENT 

        This
AMENDMENT TO AMENDED AND RESTATED STOCKHOLDERS AGREEMENT (this
“Amendment”) is made and effective as of May 26, 2005 (the
“Effective Date”), by and among MSO Medical, Inc., a Delaware corporation
(the “Company”); MSO Holdings, Inc., a Delaware corporation (the
“Parent”); the undersigned Investors (the “Investors”)
and the undersigned Common Holders (the “Common Holders”) who are parties
to that certain Amended and Restated Stockholders Agreement dated July 30, 2004 by and
among the Company, the Investors and the Common Holders (the “Stockholders
Agreement”), which Investors represent a majority in interest of the outstanding
Series A Stock and which Common Holders represent a majority in interest of the Common
Holders. Terms used in this Amendment but not defined herein shall have the respective
meanings set forth in the Stockholders Rights Agreement. 

Recitals: 

        WHEREAS,
the Company has entered into an Agreement and Plan of Merger dated January 4, 2005 by and
among the Company, the Parent, National Superstars, Inc., a Nevada corporation
(“National Superstars”) and NSPS Merger Sub, Inc., a Delaware corporation
(the “Merger Agreement”), pursuant to which the Company will merge with a
wholly-owned subsidiary of Parent and whereby the Company will survive and become the
wholly-owned subsidiary of Parent (the “Merger”); 

        WHEREAS,
in connection with the Merger, the Company is to assign, and the Parent is to assume, the
Company’s rights and obligations under the Stockholders Agreement; 

        WHEREAS,
the parties to the Stockholders Agreement desire to amend the Stockholders Agreement to
clarify certain provisions of the Stockholders Agreement in light of the assignment and
assumption of the Stockholders Agreement by the Company to and by the Parent, and to add
Parent as a party thereto. 

        WHEREAS,
the Stockholders Agreement may be amended pursuant to Section 9.1 of the Stockholders
Agreement in a writing signed by the Company, the holders of a majority of the Series A
Stock and holders of a majority in interest of the Common Holders. 

        NOW,
THEREFORE, the parties hereby agree as follows: 

     1.    
          Assignment and Assumption of Registration Rights Agreement.
          Effective as of the effective time of the Merger, the Company hereby assigns,
          and the Parent hereby accepts such assignment and assumes and agrees to perform,
          all of the Company’s rights and obligations under the Stockholders
          Agreement. 

2.    Amendments to
Stockholders Agreement. 

          	 	(a) 	
               Definitions. All references to the Company set forth in the Stockholders
               Agreement shall hereafter be deemed to be references to the Parent. Without
               limiting the generality of the foregoing, the following defined terms as they
               appear in the Stockholders Agreement shall be amended and restated in their
               entirety as follows: 

               

	 	(i)  	Common
Stock. The term “Common Stock”               means the
Common Stock of Parent.  

	 	(ii)  	Series
A Stock. The term “Series A Stock”               means
the Series A Convertible Preferred Stock of Parent.  

	 	(iii)  	Equity
Securities. The term “Equity                Securities” shall
mean any securities having voting rights                in the election of the Board of
Directors of the Parent, or any securities                evidencing an ownership
interest in the Parent, or any securities convertible                into, or
exchangeable or exercisable for, any shares of the foregoing, or any
               agreement or commitment to issue any of the foregoing.  

	 	(iv)  	New
Securities. The term “New Securities”               shall
mean any Equity Securities of the Parent, whether now authorized or not
               and securities of any type whatsoever that are, or may become, convertible
or                exchangeable into such Equity Securities; provided, however that the
term                “New Securities” does not include:  

	 	(i)  	shares
of Common Stock issued or issuable upon conversion of the outstanding
               shares of the Series A Stock;  

	 	(ii)  	shares
of Common Stock issued or issuable pursuant to stock dividends, stock
               splits, distributions or similar transactions on the Series A Stock and
the                Common Stock;  

	 	(iii)  	up
to 2,305,356 shares of Common Stock (or options, warrants or rights therefor)
               (such number of shares to be calculated net of any repurchases and
cancellations                of such shares by the Parent and net of any such expired or
terminated options,                or rights and to be proportionally adjusted to reflect
any stock splits, stock                dividends, recapitalizations or the like) granted,
issued or issuable to                employees, officers, directors, contractors,
consultants or advisers to the                Parent pursuant to the Parent’s 2004
Equity Incentive Plan;  

	 	(iv)  	shares
of the Parent’s Common Stock, or options, warrants or rights to
               purchase Common Stock, issued or issuable to financial institutions or
lessors                in connection with equipment lease financing arrangements, real
estate leases,                credit arrangements, debt financings or other similar
commercial transactions                approved by the Board of Directors;  

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	 	(v)  	shares
of Common Stock, or options, warrants or rights to purchase Common Stock,
               issued for consideration other than cash pursuant to a merger,
consolidation,                acquisition or similar business combination approved by the
Board of Directors;  

	 	(vi)  	shares
of Common Stock issuable upon exercise of any options, warrants,
               convertible securities or rights to purchase any securities of the Parent
               outstanding as of the date of this Agreement and any securities issuable
upon                the conversion thereof;  

	 	(vii)  	shares
of the Parent’s Common Stock issued or issuable by the Parent to the
               public pursuant to a registration statement filed under the Securities
Act; and  

	 	(viii)  	warrants
to purchase capital stock of Parent issued to non-employee directors or
               consultants to Parent, provided that such directors or consultants provide
bona                fide services to Parent and such issuance has been approved by the
Parent’s                Board of Directors.  

          	 	3. 	
               Full Force and Effect. The Stockholders Agreement, except
               as amended by this Amendment, shall remain in full force and effect in
               accordance with the provisions thereof. 

               

          	 	4. 	
               Counterparts. This Amendment may be executed in multiple
               counterparts, each of which shall be deemed an original and together shall
               constitute one document. This Amendment may be executed and transmitted via
               facsimile with the same validity as if it were an ink-signed document. 

               

[Remainder of Page
Intentionally Left Blank] 

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        IN
WITNESS WHEREOF, the parties have executed this Amendment as of the Effective Date. 

		
	"Company"	MSO MEDICAL, INC.
		 
		By:                                                                    
		     Albert Henry, Chief Executive Officer
		 
	"Parent"	MSO HOLDINGS, INC.
		 
		By:                                                                    
		     Albert Henry, Chief Executive Officer
		 
	"Investor"	NAME OF INVESTING ENTITY:
		___________________________________
		 
		By:                                                                    
		Name:                                                               
		Its:                                                                    
		 
	"Common Holder"	NAME OF COMMON HOLDER:
		___________________________________
		 
		By:                                                                    
		Name:                                                               
		Its:                                                                    

[Signature Page to Amendment to Amended and Restated Stockholders Agreement]AMENDED AND
RESTATED REGISTRATION RIGHTS AGREEMENT 

        This
Amended and Restated Registration Rights Agreement (this
“Agreement”) is made and entered into as of July 30, 2004 by and
among MSO Medical, Inc., a Delaware corporation (the “Company”),
and the persons and entities listed on Exhibit A attached hereto (the
“Investors”). 

    A.                     The
Company and certain of the Investors who are already holders of the           Company’s
Series A Convertible Preferred Stock (the “Series A           Stock”)
previously entered into that certain Registration Rights Agreement           dated March
28, 2004 (the “Prior Agreement”);  

    B.                     Certain
of the Investors are purchasing additional shares of the Company’s           Series
A Stock pursuant to that certain Series A Convertible Preferred Stock
          Subscription Agreement dated as of even date herewith (the “Purchase
          Agreement”);  

    C.                     The
Investors who are parties to the Prior Agreement desire to amend and restate
          the Prior Agreement and accept the rights and covenants hereof in lieu of their
          rights and covenants under the Prior Agreement and to add the new Investors as
          parties hereto.  

        NOW,
THEREFORE, in consideration of the foregoing recitals and the mutual
promises hereinafter set forth, the parties hereto agree to amend and restate the Prior
Agreement as follows: 

		    1.       GENERAL. 

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

		    (a)           Common
Stock. The term “Common Stock”          means the
common stock of the Company.  

		    (b)           Conversion
Stock. The term “Conversion           Stock” means
shares of Common Stock issued or issuable upon           conversion of the shares of
Series A Stock.  

		    (c)           Exchange
Act. The Term “Exchange Act”          means the
Securities Exchange Act of 1934, as amended.  

		    (d)           Form
S-3. The term “Form S-3” means such form           under the
Securities Act as is 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.  

		    (e)           Holder.
The term “Holder” means any person owning           of record
Registrable Securities or any assignee of record of such Registrable           Securities
to whom rights set forth herein have been duly assigned in accordance           with this
Agreement; provided, however, that for purposes of this
          Agreement, a record holder of shares of Series A Stock convertible into
          such Registrable Securities shall be deemed to be the Holder of such
Registrable           Securities; providedfurther, that the Company shall
in no event           be obligated to register shares of Series A Stock, and that
Holders of           Registrable Securities will not be required to convert their shares
of           Series A Stock into Common Stock in order to exercise the registration
          rights granted hereunder, until immediately before the closing of the offering
          to which the registration relates.  

		    (f)           Initial
Offering. The term “Initial           Offering” means
the Company’s first firm commitment           underwritten public offering of its
Common Stock registered under the Securities           Act.  

		    (g)           Registration.
The terms “register,”“registration” and
“registered”          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.  

		    (h)           Registrable
Securities. The term “Registrable           Securities” means:  

		    (1)                     all
the shares of Common Stock of the Company issued or issuable upon the
          conversion of any shares of Series A Stock issued under the Series A
          Agreement, as such agreement may hereafter be amended from time to time; and  

		    (2)                     any
shares of Common Stock of the Company issued (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, all such shares of Common Stock described in clause (1) of this
          subsection (h); excluding in all cases, however, any Registrable Securities
sold           by a person in a transaction in which rights under Section 2 hereof
are not           assigned in accordance with this Agreement, any Registrable Securities
with           respect to which, pursuant to Section 2.10 hereof, the holders are no
longer           entitled to registration rights, or any Registrable Securities which
have been           previously registered and sold to the public.  

		    (i)           Registrable
Securities then Outstanding. The number of shares of “Registrable
Securities then outstanding” shall mean the           number of shares of
Common Stock which are Registrable Securities that are then           (1) issued and
outstanding or (2) issuable pursuant to the exercise or           conversion of then
outstanding and then exercisable and qualifying options,           warrants or
convertible securities.  

		    (j)           SEC.
The term “SEC” or “Commission” means the
U.S. Securities and Exchange           Commission.  

		    (k)           Securities
Act. The term “Securities Act”          means the
Securities Act of 1933, as amended.  

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		    2.        REGISTRATION RIGHTS. 

		    2.1.           Required
Registration.  

		    (a)                     The
Company shall, for the benefit of the Holders of Registrable Securities, at           the
Company’s cost, file with the Commission on or prior to ninety (90)           days
after the closing of a merger of the Company into a public entity (the           “Merger”),
a Shelf Registration Statement providing for the sale by           the Holders of all the
Registrable Securities, and shall use its best efforts to           have such Shelf
Registration Statement declared effective by the Commission as           soon as
practicable and, in any event, within 90 days thereafter. The Company           agrees to
use its best efforts to keep the Shelf Registration Statement           continuously
effective for a period of two years after the date of effectiveness           (the “Effectiveness
Period”). The Company shall not permit any           securities other than
Registrable Securities to be included in the Shelf           Registration. The Company
further agrees, if necessary or appropriate, to           supplement or amend the Shelf
Registration Statement, if required by the rules,           regulations or instructions
applicable to the registration form used by the           Company for such Shelf
Registration Statement or by the Securities Act or by any           other rules and
regulations thereunder for shelf registrations, and the Company           agrees to
furnish to the Holders of Registrable Securities copies of any such           supplement
or amendment promptly after its being used or filed with the           Commission. In the
event that the Company’s registration statement has not           been declared
effective by the SEC within nine months following the date of the           Merger (or
ten months to the extent necessary to comply with comments by the           SEC) or if
the registration statement has been suspended beyond 30 days during           each year
prior to the second anniversary of the Merger or beyond 90 days in any           year
thereafter, the then current Conversion Price of the Conversion Stock and           the
then current exercise price for the warrants issued to Commonwealth           Associates,
L.P., as placement agent shall be reduced by 5% for each month (or           portion
thereof) until such time as the registration is effective or the           suspension
ceases and the prospectus may be used. The Company’s obligation           to keep
the registration statement effective shall continue until the earlier of           the
date that all of the Registrable Securities have been sold thereunder or are
          eligible pursuant to Rule 144(k) under the 1933 Act (as evidenced by an opinion
          of counsel).  

		    (b)                     Effective
Registration Statement. A Shelf Registration Statement pursuant to           Section 2(a)
above will not be deemed to have become effective unless it has           been declared
effective by the Commission; provided that if, after it has been           declared
effective, the offering of Registrable Securities pursuant to a Shelf
          Registration Statement is interfered with by any stop order, injunction or
other           order or requirement of the Commission or any other governmental agency
or           court, such Registration Statement will be deemed not to have been effective
          during the period of such interference, until the offering of Registrable
          Securities pursuant to such Registration Statement may legally resume. The
          Company will be deemed not to have used its reasonable efforts to cause the
          Shelf Registration Statement to become, or to remain, effective during the
          requisite period if it voluntarily takes any action that would result in any
          such Registration Statement not being effective or in the Holders of
Registrable           Securities covered thereby not being able to offer and sell such
Registrable           Securities during that period.  

		    (c)                     Specific
Enforcement. Without limiting the remedies available to the Holders of
          Registrable Securities, the Company acknowledges that any failure by the
Company           to comply with its obligations under Section 2(a) hereof may result in
material           irreparable injury to such Holders for which there is no adequate
remedy at law,           that it would not be possible to measure damages for such
injuries precisely and           that, in the event of any such failure, any such Holder
of Registrable           Securities may obtain such relief as may be required to
specifically enforce the           Company’s obligations under Section 2(a) hereof.  

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		    (d)           Expenses.
All expenses incurred in connection with a registration           pursuant to this Section 2.1,
including without limitation all registration           and qualification fees, printers’ and
accounting fees, fees and           disbursements of counsel for the Company, and the
reasonable fees and           disbursements of one counsel for the selling Holders (but
excluding           underwriters’ discounts and commissions), shall be borne by the
Company.  

		    2.2.           Piggyback
Registrations. The Company shall notify all           Holders of
Registrable Securities in writing at least thirty (30) days prior to           filing any
registration statement under the Securities Act for purposes of           effecting 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 any
registration under Section 2.1 or Section 2.3 of this Agreement           or to
any employee benefit plan or a corporate reorganization or other           transaction
covered by Rule 145 promulgated under the Securities Act, or a
          registration on any registration form which does not permit secondary sales or
          does not include substantially the same information as would be required to be
          included in a registration statement covering the sale of Registrable
          Securities) and will afford each such Holder an opportunity to include in such
          registration statement all or any part of the Registrable Securities then held
          by such Holder. Each Holder desiring to include in any such registration
          statement all or any part of the Registrable Securities held by such Holder
          shall, within twenty (20) days after receipt of the above-described notice from
          the Company, so notify the Company in writing, and in such notice shall inform
          the Company of the number of Registrable Securities such Holder wishes to
          include in such registration statement. 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 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.  

		    (a)           Underwriting.
If a registration statement under which the Company gives           notice under this
Section 2.2 is for an underwritten offering, then the           Company shall so
advise the Holders of Registrable Securities. In such event,           the right of any
such Holder’s Registrable Securities to be included in a           registration
pursuant to this Section 2.2 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 managing underwriter or underwriter(s) selected for such underwriting.
          Notwithstanding any other provision of this Agreement, if the managing
          underwriter determine(s) in good faith that marketing factors require a
          limitation of the number of shares to be underwritten, then the managing
          underwriter(s) may exclude shares (including Registrable Securities) from the
          registration and the underwriting, and the number of shares that may be
included           in the registration and the underwriting shall be allocated, first, to
the           Company, second to Holders requesting inclusion of their Registrable
Securities           in such registration statement on a pro rata basis based on the
number of           Registrable Securities each such Holder has requested to be included
in the           registration; providedhowever, that the right of the
underwriters           to exclude shares (including Registrable Securities) from the
registration and           underwriting as described above shall be restricted so that:
(i) the number of           Registrable Securities included in any such registration is
not reduced below           twenty percent (20%) of the shares included in the
registration, except for a           registration relating to the Company’s initial
public offering, from which           all Registrable Securities may be excluded; and
(ii) all shares that are not           Registrable Securities shall first be excluded
from such registration and           underwriting before any Registrable Securities are
so excluded. If any Holder           disapproves of the terms of any such underwriting,
such Holder may elect to           withdraw therefrom by written notice, given in
accordance with Section 3.2           hereof, to the Company and the underwriter,
delivered at least twenty (20) days           prior to the effective date of the
registration statement. Any Registrable           Securities excluded or withdrawn from
such underwriting shall be excluded and           withdrawn from the registration. For
any Holder that is a partnership, limited           liability company or corporation, the
partners, retired partners, members and           stockholders of such Holder, or the
estates and family members of any such           partners, members and retired partners
and any trusts for the benefit of any of           the foregoing persons shall be deemed
to be a single “Holder,”          and any pro rata reduction with
respect to such “Holder”          shall be based upon the
aggregate amount of shares carrying registration rights           owned by all entities
and individuals included in such “Holder,” as defined in this
sentence.  

4 

		    (b)           Expenses.
All expenses incurred in connection with a registration           pursuant to this Section 2.2,
including without limitation all registration           and qualification fees, printers’ and
accounting fees, fees and           disbursements of counsel for the Company, and the
reasonable fees and           disbursements of one counsel for the selling Holders (but
excluding           underwriters’ discounts and commissions), shall be borne by the
Company.           Each Holder participating in a registration pursuant to this Section 2.2
          shall bear such Holder’s proportionate share (based on the number of
shares           sold by such Holder over the total number of shares included in such
          registration at the time it goes effective) of all discounts, commissions or
          other amounts payable to underwriters or brokers in connection with such
          offering.  

		    2.3.           Form
S-3 Registration. In case the Company shall receive           from any
Holder or Holders of Registrable Securities then outstanding a written           request
or requests that the Company effect a registration on Form S-3 and any           related
qualification or compliance with respect to all or a part of the           Registrable
Securities owned by such Holder or Holders, then the Company will do           the
following:  

		    (a)           Notice.
Promptly give written notice of the proposed registration and the           Holder’s
or Holders’ request therefor, and any related qualification           or compliance,
to all other Holders of Registrable Securities.  

		    (b)           Registration.
Use its best efforts to, 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 twenty (20) 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 2.3:  

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		    (1)                     if
Form S-3 is not available for such offering;  

		    (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 One Million Dollars ($1,000,000);  

		    (3)                     if
the Company shall furnish to the Holders a certificate signed by the           President
or Chief Executive Officer 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 no
          more than once during any twelve (12) month period for a period of not more
than           ninety (90) days after receipt of the request of the Holder or Holders
under           this Section 2.3; 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.  

		    (c)           Maximum
Number of S-3 Registrations. The Company is obligated to effect           only one
(1) such registration pursuant to this Section 2.3.  

		    (d)           Expenses.
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 pursuant to this Section 2.3           as soon as practicable after
receipt of the request or requests of the Holders           for such registration. The
Company shall pay all expenses incurred in connection           with a registration
requested pursuant to this Section 2.3 (excluding           underwriters’ or
brokers’ discounts and commissions), including           without limitation all
filing, registration and qualification, printers’          and accounting fees and
the reasonable fees and disbursements of one (1) counsel           for the selling Holder
or Holders and counsel for the Company. Each Holder           participating in a
registration pursuant to this Section 2.3 shall bear           such Holder’s
proportionate share (based on the number of shares sold by           such Holder over the
total number of shares included in such registration at the           time it goes
effective) of all discounts, commissions or other amounts payable           to
underwriters or brokers in connection with such offering.  

		    2.4.           Obligations
of the Company. Whenever required to effect the           registration of
any Registrable Securities under this Agreement, the Company           shall, as
expeditiously as reasonably possible:  

		    (a)                     Keep
such registration effective for a period of one hundred twenty (120) days           or
until the Holder or Holders have completed the distribution described in the
          registration statement relating thereto, whichever first occurs; provided,
          however, that such 120-day period shall be extended for a period of time equal
          to the period the Holder refrains from selling any securities included in such
          registration at the request of an underwriter of Common Stock (or other
          securities) of the Company;  

6 

		    (b)                     Prepare
and file with the Commission a registration statement and 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;  

		    (c)                     Furnish
to the Holders such number of prospectuses and other documents incident
          thereto, including any amendment of or supplement to the prospectus, as the
          Holders from time to time may reasonably request in order to facilitate the
          disposition of the Registrable Securities owned by them that are included in
          such registration;  

		    (d)                     Notify
each seller 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 or incomplete in the light of the circumstances then existing,           and
at the request of any such seller, prepare and furnish to such seller a
          reasonable number of copies of a supplement to or an amendment of such
          prospectus as may be necessary so that, as thereafter delivered to the
          purchasers of such shares, such prospectus shall not 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 not misleading or
incomplete           in the light of the circumstances then existing;  

		    (e)                     Cause
all such Registrable Securities registered pursuant to such registration
          statement to be listed on each securities exchange on which similar securities
          issued by the Company are then listed;  

		    (f)                     Provide
a transfer agent and registrar for all Registrable Securities registered
          pursuant to such registration statement and a CUSIP number for all such
          Registrable Securities, in each case not later than the effective date of such
          registration; and  

		    (g)                     Otherwise
use its best efforts to comply with all applicable rules and           regulations of the
Commission.  

		    2.5.           Furnish
Information. It shall be a condition precedent to           the
obligations of the Company to take any action pursuant to Sections 2.1,
          2.2 or 2.3 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
          timely effect the registration of their Registrable Securities.  

		    2.6.           Delay
of Registration. 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.  

		    2.7.           Indemnification.
In the event any Registrable Securities           are included in a registration
statement under Sections 2.1, 2.2 or 2.3:  

7 

		    (a)           By
the Company. To the extent permitted by law, the Company will           indemnify and
hold harmless each Holder, the partners, officers and directors 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, the “Violations”          and,
individually, a “Violation”):  

		    (1)                     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; or  

		    (2)                     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  

		    (3)                     any
violation or alleged violation by the Company of the Securities Act, the
          Exchange Act, any federal or state securities law or any rule or regulation
          promulgated under the Securities Act, the Exchange Act or any federal or state
          securities law in connection with the offering covered by such registration
          statement.  

	 	
The
Company will reimburse each such Holder, the officers, directors, legal counsel and
accountants, and partners of such Holder and each person controlling such Holder,
underwriter or controlling person, any legal or other expenses reasonably incurred by
them, within sixty (60) days after a written request for reimbursement with supporting
documentation has been received by the Company, in connection with investigating or
defending any such loss, claim, damage, liability or action; providedhowever,
that the indemnity agreement contained in this subsection 2.7(a) 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,
officer, director, underwriter or controlling person of such Holder.  

		    (b)           By
Selling Holders. To the extent permitted by law, each selling Holder           will
indemnify and hold harmless the Company, each of its directors, each of its
          officers who have signed the registration statement, 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 within the meaning of the Securities Act or the
          Exchange Act, 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, partner, member or 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 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 expressly for use in connection
          with such registration. 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, partner, officer, director or
          controlling person of such other Holder, within sixty (60) days after a written
          request for reimbursement with supporting documentation has been received by
the           indemnifying Holder, in connection with investigating or defending any such
          loss, claim, damage, liability or action; provided, however, that the
          indemnity agreement contained in this subsection 2.7(b) 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; and providedfurther, that the
          total amounts payable in indemnity by a Holder under this Section 2.7(b)
in           respect of any Violation shall not exceed the net proceeds received by such
          Holder in the registered offering out of which such Violation arises.  

8 

		    (c)           Notice.
Promptly after receipt by an indemnified party under this           Section  2.7
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  2.7, deliver
to the indemnifying party a written notice of           the commencement thereof. 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           representation of such indemnified party
by the counsel retained by the           indemnifying party would be inappropriate due to
actual or potential conflict of           interests between such indemnified party and
any other party represented by such           counsel in such proceeding. The failure to
deliver written notice to the           indemnifying party within a reasonable time of
the commencement of any such           action, if prejudicial to its ability to defend
such action, shall relieve such           indemnifying party of any liability to the
indemnified party under this           Section 2.7, but the omission so to deliver
written notice to the           indemnifying party will not relieve it of any liability
that it may have to any           indemnified party otherwise than under this Section 2.7.  

		    (d)           Defect
Eliminated in Final Prospectus. The foregoing indemnity agreements           of the
Company and Holders are subject to the condition that, insofar as they           relate
to any Violation made in a preliminary prospectus but eliminated or           remedied in
the amended prospectus on file with the SEC at the time the           registration
statement in question becomes effective or the amended prospectus           filed with
the SEC pursuant to SEC Rule 424(b) (the “Final           Prospectus”),
such indemnity agreement shall not inure to the           benefit of any person if a copy
of the Final Prospectus was furnished to the           indemnified party and was not
furnished to the person asserting the loss,           liability, claim or damage at or
prior to the time such action is required by           the Securities Act.  

		    (e)           Contribution.
If the indemnification provided for in this           Section 2.7 is held by a court
of competent jurisdiction to be unavailable           to an indemnified party with
respect to any loss, liability, claim, damage or           expense referred to herein,
then the indemnifying party, in lieu of indemnifying           the indemnified party,
shall contribute to the amount paid or payable by such           indemnified party with
respect to such loss, liability, claim, damage or expense           in the proportion
that is appropriate to reflect the relative fault of the           indemnifying party and
the indemnified party in connection with the statements           or omissions that
resulted in such loss, liability, claim, damage or expense, as           well as any
other relevant equitable considerations. The relative fault of the           indemnifying
party and the indemnified party shall be determined by reference           to, among
other things, whether the untrue or alleged untrue statement of           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. In any such case, (A) no           such Holder will be
required to contribute any amount in excess of the public           offering price of all
such Registrable Securities offered and sold by such           Holder pursuant to such
registration statement; and (B) no person or entity           guilty of fraudulent
misrepresentation (within the meaning of Section 11(f)           of the Securities
Act) will be entitled to contribution from any person or           entity who was not
guilty of such fraudulent misrepresentation.  

9 

		    (f)           Conflict
with Underwriting Agreement. Notwithstanding the foregoing, to           the extent
that the provisions on indemnification and contribution contained in           the
underwriting agreement entered into in connection with the underwritten           public
offering are in conflict with the foregoing provisions, the provisions in           the
underwriting agreement will control.  

		    (g)           Survival.
The obligations of the Company and Holders under this           Section 2.7 shall
survive the completion of any offering of Registrable           Securities in a
registration statement, and otherwise.  

		    2.8.           “Market
Stand-Off” Agreement. Each Holder hereby           agrees that it
shall not, to the extent requested by the Company or an           underwriter of
securities of the Company, sell or otherwise transfer or dispose           of any
Registrable Securities or other shares of stock of the Company then owned           by
such Holder (other than to donees or partners of the Holder who agree to be
          similarly bound) for up to one hundred eighty (180) days following the
effective           date of any registration statement of the Company filed under the
Securities           Act; provided, however, that:  

		    (a)                     such
agreement shall be applicable only to the registration statement of the           Company
relating to the Initial Offering but not to Registrable Securities sold
          pursuant to such registration statement; and  

		    (b)                     (i) all
officers and directors of the Company and (ii) all           stockholders holding in
the aggregate at least 5% of the total outstanding stock           of the Company enter
into similar agreements.  

	 	
For
purposes of this Section 2.8, the term “Company” shall
include any wholly-owned subsidiary of the Company into which the Company merges or
consolidates. In order to enforce the foregoing covenant, the Company shall have the
right to place restrictive legends on the certificates representing the shares subject to
this Section and to impose stop transfer instructions with respect to the Registrable
Securities and such other shares of stock of each Holder (and the shares or securities of
every other person subject to the foregoing restriction) until the end of such period.
Each Holder further agrees to enter into any agreement reasonably required by the
underwriters to implement the foregoing within any reasonable timeframe so requested.  

10 

		    2.9.           Rule 144
Reporting. With a view to making available           the benefits of
certain rules and regulations of the Commission which may at any           time permit
the sale of the Registrable Securities to the public without           registration,
after such time as a public market exists for the Common Stock of           the Company,
the Company agrees to:  

		    (a)                     Make
and keep public information available, as those terms are understood and
          defined in Rule 144 under the Securities Act, at all times after the
          effective date of the first registration under the Securities Act filed by the
          Company for an offering of its securities to the general public;  

		    (b)                     Use
reasonable, diligent efforts to file with the Commission in a timely manner           all
reports and other documents required of the Company under the Securities Act
          and the Exchange Act (at any time after it has become subject to such reporting
          requirements); and  

		    (c)                     So
long as a Holder owns any Registrable Securities, to furnish to the Holder
          forthwith upon request a written statement by the Company as to its compliance
          with the reporting requirements of said Rule 144 (at any time after ninety
          (90) days after the effective date of the first registration statement filed by
          the Company for an offering of its securities to the general public), and of
the           Securities Act and the Exchange Act (at any time after it has become
subject to           the reporting requirements of the Exchange Act), a copy of the most
recent           annual or quarterly report of the Company, and such other reports and
documents           of the Company as a Holder may reasonably request in availing itself
of any rule           or regulation of the Commission allowing a Holder to sell any such
securities           without registration (at any time after the Company has become
subject to the           reporting requirements of the Exchange Act).  

		    2.10.           Termination
of the Company’s Obligations. The Company           shall have no
obligations pursuant to Sections 2.1 through 2.3 with respect           to any
Registrable Securities proposed to be sold by a Holder in a           registration
pursuant to Section 2.1, 2.2 or 2.3 if, in the opinion of           counsel to the
Company, all such Registrable Securities proposed to be sold by a           Holder may be
sold in a three (3) month period without registration under the           Securities Act
pursuant to Rule 144 under the Securities Act.  

		    2.11.           Limitations
on Subsequent Registration Rights. From and           after the date of
this Agreement, the Company shall not, without the prior           written consent of the
Holders of a majority of the Registrable Securities then           outstanding, enter
into any agreement with any holder or prospective holder of           any securities of
the Company which would provide such holder or prospective           holder with
registration rights, except for such rights as are subordinate to           those
registration rights granted to the Holders in this Agreement.  

		    2.12.           Assignment
of Registration Rights. The rights of a Holder           under this
Section 2 may be assigned only to: (i) any partner or retired partner           of such
Holder which is a partnership, (ii) any member or former member of such           Holder
which is a limited liability company, (iii) any family member or trust           for the
benefit of any individual Holder, (iv) any transferee who acquires at           least one
percent (1%) of the Registrable Securities, or (v) any affiliated           venture
capital fund of a Holder, provided that the Company is, within a           reasonable
time after such transfer, furnished with written notice of the name           and address
of such transferee and the securities with respect to which such           rights are
being assigned, and such transferee or assignee shall be bound by and           comply
with the obligations of such Holder under this Agreement.  

11 

		    3.           GENERAL
PROVISIONS. 

		    3.1.           Amendment
and Waiver of Rights. Any provision of this           Agreement 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 (i) the Company, and (ii) the           Holders of a majority of the
Registrable Securities then outstanding. Any           amendment or waiver effected in
accordance with this Section 3.1 shall be           binding upon each Holder, each
permitted successor or assignee of such Holder,           and the Company.
Notwithstanding anything to the contrary contained herein, if           the Company shall
issue additional shares of its Series A Stock, any purchaser           thereof shall
become a party to this Agreement by executing delivering as           additional
counterpart signature page to this Agreement and shall be deemed and           “Investor” and
a party hereunder for all purposes.  

		    3.2.           Notices.
Any and all notices required or permitted to be           given to a party pursuant to
the provisions of this Agreement will be in writing           and will be effective and
deemed to provide such party sufficient notice under           this Agreement on the
earliest of the following: (i) at the time of           personal delivery, if
delivery is in person; (ii) at the time of           transmission by facsimile,
addressed to the other party at its facsimile number           specified herein (or
hereafter modified by subsequent notice to the parties           hereto), with
confirmation of receipt made by both telephone and printed           confirmation sheet
verifying successful transmission of the facsimile;           (iii) one (1) business
day after deposit with an express overnight courier           for United States
deliveries, or two (2) business days after such deposit for           deliveries outside
of the United States, with proof of delivery from the courier           requested; or (iv) three
(3) business days after deposit in the United           States mail by certified mail
(return receipt requested) for United States           deliveries.  

	 	        All
notices for delivery outside the United States will be sent by facsimile or by express
courier. Notices by facsimile shall be machine verified as received. All notices not
delivered personally or by facsimile will be sent with postage and/or other charges
prepaid and properly addressed to the party to be notified at the address or facsimile
number as follows, or at such other address or facsimile number as such other party may
designate by one of the indicated means of notice herein to the other parties hereto as
follows:  

		    (a)                     if
to an Investor, at such Investor’s respective address as set forth on Exhibit A hereto;  

		    (b)                     if
to the Company, marked “Attention: Chief Financial           Officer”,
at 2333 Waukegan Road, Suite 175, Bannockburn, IL 60015,           Facsimile: (847)
267-0518.  

		    3.3.           Entire
Agreement. This Agreement and the documents referred           to herein,
together with all the Exhibits hereto and thereto, constitute the           entire
agreement and understanding of the parties with respect to the subject           matter
of this Agreement, and supersede any and all prior understandings and
          agreements, whether oral or written, between or among the parties hereto with
          respect to the specific subject matter hereof.  

12 

		    3.4.           Governing
Law. This Agreement will be governed by and           construed in
accordance with the laws of the State of Delaware, without giving           effect to
that body of laws pertaining to conflict of laws.  

		    3.5.           Severability.
If any provision of this Agreement is           determined by any court or arbitrator of
competent jurisdiction to be invalid,           illegal or unenforceable in any respect,
such provision will be enforced to the           maximum extent possible given the intent
of the parties hereto. If such clause           or provision cannot be so enforced, such
provision shall be stricken from this           Agreement and the remainder of this
Agreement shall be enforced as if such           invalid, illegal or unenforceable clause
or provision had (to the extent not           enforceable) never been contained in this
Agreement. Notwithstanding the           foregoing, if the value of this Agreement based
upon the substantial benefit of           the bargain for any party is materially
impaired, which determination as made by           the presiding court or arbitrator of
competent jurisdiction shall be binding,           then both parties agree to substitute
such provision(s) through good faith           negotiations.  

		    3.6.           Third
Parties. Nothing in this Agreement, express or           implied, is
intended to confer upon any person, other than the parties hereto           and their
successors and assigns, any rights or remedies under or by reason of           this
Agreement.  

		    3.7.           Successors
And Assigns. Subject to the provisions of           Section 2.12 of
this Agreement, the rights and obligations of the parties           hereunder will be
binding upon and inure to the benefit of their respective           successors, assigns,
heirs, executors, administrators and legal representatives.  

		    3.8.           Titles
and Headings. The titles, captions and headings of           this
Agreement are included for ease of reference only and will be disregarded           in
interpreting or construing this Agreement. Unless otherwise specifically
          stated, all references herein to “sections” and “exhibits” will
mean “sections”          and “exhibits” to
this Agreement.  

		    3.9.           Counterparts.
This Agreement may be executed in any number           of counterparts, each of which
when so executed and delivered will be deemed an           original, and all of which
together shall constitute one and the same agreement.  

		    3.10.           Costs
And Attorneys’ Fees. In the event that any           action, suit or
other proceeding is instituted concerning or arising out of this           Agreement or
any transaction contemplated hereunder, the prevailing party shall           recover all
of such party’s costs and attorneys’ fees incurred in each           such
action, suit or other proceeding, including any and all appeals or           petitions
therefrom.  

		    3.11.           Adjustments
for Stock Splits, Etc. Wherever in this           Agreement there is a
reference to a specific number of shares of Common Stock or           Preferred Stock of
the Company of any class or series, then, upon the occurrence           of any
subdivision, combination or stock dividend of such class or series of           stock,
the specific number of shares so referenced in this Agreement shall
          automatically be proportionally adjusted to reflect the affect on the
          outstanding shares of such class or series of stock by such subdivision,
          combination or stock dividend.  

13 

		    3.12.           Aggregation
of Stock. All shares held or acquired by           affiliated entities or
persons shall be aggregated together for the purpose of           determining the
availability of any rights under this Agreement.  

		    3.13.           Further
Assurances. The parties agree to execute such           further documents
and instruments and to take such further actions as may be           reasonably necessary
to carry out the purposes and intent of this Agreement.  

		    3.14.           Facsimile
Signatures. This Agreement may be executed and           delivered by
facsimile and upon such delivery the facsimile signature will be           deemed to have
the same effect as if the original signature had been delivered           to the other
party.  

[Remainder of page
intentionally left blank] 

14

        IN
WITNESS WHEREOF, the parties hereto have executed this Amended and Restated
Registration Rights Agreement as of the date and year first written above. 

		
	"Company"	MSO Medical, Inc.
	 	 
		By:___________________________________
		      Albert Henry
		      Chairman and Chief Executive Officer

SIGNATURE PAGE TO
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

        IN
WITNESS WHEREOF, the parties have executed this Amended and Restated Registration Rights
Agreement as of the date first written above.  

		
	"Investor"	NAME OF INVESTING ENTITY
		                                                                                          
		 
		AUTHORIZED SIGNATORY
		 
		By:                                                                                     
		Name:
		Title:
		 
		ADDRESS FOR NOTICE
		c/o:                                                                                    
		Street:                                                                               
		City/State/Zip:                                                                 
		Attention:                                                                         
		Tel:                                                                                  
		Fax:                                                                                   
		Email:                                                                                

SIGNATURE PAGE TO
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

        IN
WITNESS WHEREOF, the parties have executed this Amended and Restated Registration Rights
Agreement as of the date first written above. 

		
	"Common Holders"	Belusha, LLP
	 
	 	_____________________________________________________________
		By: Albert Henry, Its Partner
	 
	 	_____________________________________________________________
		James Sapala, M.D.
	 
	 	_____________________________________________________________
		Michael Wood, M.D.
	 
	 	_____________________________________________________________
		Michael Schuhkneckt, D.O.
	 
	 	_____________________________________________________________
		Larry Belenke

SIGNATURE PAGE TO
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

        IN
WITNESS WHEREOF, the parties have executed this Amended and Restated Registration Rights
Agreement as of the date first written above. 

		
	"Series A Preferred"	
		_____________________________________________________________
Richard Schoninger
		_____________________________________________________________
Bruce S. Schonbraun
		_____________________________________________________________
Richard Ullman
		_____________________________________________________________
Al Moschner
		_____________________________________________________________
Tim Ostrowski
		_____________________________________________________________
Mark Kubow
		_____________________________________________________________
John Lillard
		 
		American Constaine Insurance Company Limit
		_____________________________________________________________
Eric Rahn
		_____________________________________________________________
Ed Wehmer

        IN
WITNESS WHEREOF, the parties have executed this Amended and Restated Registration Rights
Agreement as of the date first written above. 

	"Series A Preferred"	
		_____________________________________________________________
Frank Murnane, Jr.
		_____________________________________________________________
Angelo Bufalino
		_____________________________________________________________
Chris Perry
		_____________________________________________________________
Patrick Salvi
		_____________________________________________________________
Eric W. Rahn
		_____________________________________________________________
Robin D. Rahn
		_____________________________________________________________
Jamie R. Rahn
		_____________________________________________________________
James D. Kensik
		_____________________________________________________________
Steve Straus

        IN
WITNESS WHEREOF, the parties have executed this Amended and Restated Registration Rights
Agreement as of the date first written above. 

	"Series A Preferred"	
		_____________________________________________________________
Frank Bonvino

EXHIBIT A

INVESTORS

Harvard Development, Inc.

Ricky C. Sandler

Echo Capital Growth Corporation

Dr. Lloyd A. Moriber

CLK, Inc.

Terrence L. Mealy

Shea Ventures, LLC

New England Partners Capital, L.P.

Donald C. Carter

LBJ Holdings, LLC

RMC Capital, LLC

Morgan Investors X

Seneca Health Partners LP I

1991 Finlayson Family Trust

George K. Connor and Margaret A. Connor Family Trust

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