Document:

Exhibit 10.2

    
      

    

    
      Exhibit
        10.2 ---Severance Agreement

       

      

      EXHIBIT
        A

       

      

      CHIEF
        EXECUTIVE SEPARATION AND SEVERANCE AGREEMENT

      

      THIS
        SEPARATION AND SEVERANCE AGREEMENT (the "Severance Agreement") is made a
        part of
        that Employment Agreement (the "Employment Agreement"), entered into and
        effective as of the 1st
        day of
        July, 2006, by and between KENT P. WATTS, an individual resident of the State
        of
        Texas ("Executive"), and HYPERDYNAMICS CORPORATION, a Delaware corporation
        (the
        "Company").

      

      W
        I T N E
        S S E T H:

      

      WHEREAS,
        the Company desires to employ Executive and to provide for severance benefits
        under the terms and conditions set forth herein; and

      

      WHEREAS,
        this Severance Agreement constitutes part of the Employment Agreement and
        is
        incorporated therein by reference and fully set forth therein.

      

      COVENANTS

      

      NOW,
        THEREFORE, in consideration of the premises, mutual promises contained herein,
        and other valuable consideration, the receipt and sufficiency of which are
        hereby acknowledged, the parties agree as follows:

      

      
        	
                1.

              	
                Certain
                  Definitions. The following terms shall have the meanings set forth
                  herein.

              

      

      

        
          	 	
                  (a)

                	
                  "Administrator"
                    shall mean the Company. The Company shall also be the "named
                    fiduciary"
                    hereunder. The Company shall have the authority to designate
                    one or more
                    of its officers, employees or directors to act on its behalf
                    in
                    administering this Severance
                    Agreement.

                

        

      

      

      
        	 	
                (b)

              	
                "Base
                  Salary" shall mean Executive's regular pay at the time of termination.
                  Base Salary shall not include bonus or incentive plans, overtime
                  pay,
                  relocation allowances or the value of any other benefits for which
                  Executive may be eligible.

              

      

      

      
        	 	
                (c)

              	
                "Good
                  Reason" shall mean, without the express written consent of Executive,
                  the
                  occurrence of any of the following events unless such events are
                  fully
                  corrected within 30 days following written notification by Executive
                  to
                  the Company that he intends to terminate his employment hereunder
                  for one
                  of the reasons set forth below: 

              

      

      

      (i)
        a
        material breach by the Company of any provision of this Agreement, including,
        but not limited to, the assignment to Executive of any duties inconsistent
        with
        Executive's position in the Company or a material adverse alteration in the
        nature or status of Executive's responsibilities;

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (ii)
        the
        Company's requiring the Executive to be based anywhere other than the
        metropolitan area where he currently works and resides; and

      

      (iii)
        the
        occurrence of a "Change in Control" as defined below.

      

      For
        purposes of this Agreement a "Change in Control" shall mean an event as a
        result
        of which: (i) any "person" (as such term is used in Sections 13(d) and 14(d)
        of
        the Securities Exchange Act of 1934 (the "Exchange Act")), is or becomes
        the
        "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act, except
        that
        a person shall be deemed to have "beneficial ownership" of all securities
        that
        such person has the right to acquire, whether such right is exercisable
        immediately or only after the passage of time), directly or indirectly, of
        more
        than 50% of the total voting power of the voting stock of the Company; (ii)
        the
        Company consolidates with, or merges with or into another corporation or
        sells,
        assigns, conveys, transfers, leases or otherwise disposes of all or
        substantially all of its assets to any person, or any corporation consolidates
        with, or merges with or into, the Company, in any such event pursuant to
        a
        transaction in which the outstanding voting stock of the Company is changed
        into
        or exchanged for cash, securities or other property, other than any such
        transaction where (A) the outstanding voting stock of the Company is changed
        into or exchanged for (i) voting stock of the surviving or transferee
        corporation or (ii) cash, securities (whether or not including voting stock)
        or
        other property, and (B) the holders of the voting stock of the Company
        immediately prior to such transaction own, directly or indirectly, not less
        than
        50% of the voting power of the voting stock of the surviving corporation
        immediately after such transaction; or (iii) during any period of two
        consecutive years, individuals who at the beginning of such period constituted
        the Board of the Company (together with any new directors whose election
        by such
        Board or whose nomination for election by the stockholders of the Company
        was
        approved by a vote of 66-2/3% of the directors then still in office who were
        either directors at the beginning of such period or whose election or nomination
        for election was previously so approved) cease for any reason to constitute
        a
        majority of the Board of the Company then in office; or (iv) the Company
        is
        liquidated or dissolved or adopts a plan of liquidation, provided, however,
        that
        a Change in Control shall not include any going private or leveraged buy-out
        transaction which is sponsored by Executive or in which Executive acquires
        an
        equity interest materially in excess of his equity interest in the Company
        immediately prior to such transaction (each of the events described in (i),
        (ii), (iii) or (iv) above, except as provided otherwise by the preceding
        clause
        being referred to herein as a "Change in Control"). In the event of a sale
        of
        the assets or stock of the Company, the Executive shall have the option of
        electing to terminate his employment due to a Change in Control and receive
        such
        severance benefits or electing to remain employed under the terms of this
        Agreement, but not both. Executive's right to terminate his employment for
        Good
        Cause due to any "Change in Control" must be exercised within sixty (60)
        days
        after receiving written notice or his receiving actual knowledge of such
        Good
        Cause.

      

      
        	 	
                (d)

              	
                Cause
                  shall mean:

              

      

      

      (i)
        fraud, misappropriation, embezzlement, or other act of material misconduct
        against the Company or any of its affiliates;

      

      (ii)
        substantial and willful failure to perform specific and lawful directives
        of the
        Board;

      

      (iii)
        willful and knowing violation of any rules or regulations of any governmental
        or
        regulatory body, which is materially injurious to the financial condition
        of the
        Company; or

      

      (iv)
        conviction of or plea of guilty or nolo contendere to a
        felony;

      

      (v)
        a
        material breach of the terms and conditions of this Agreement: provided,
        however, that with regard to subparagraphs (ii) and (v) above, Executive
        may not
        be terminated for Cause unless and until the Board has given him reasonable
        written notice of its intended actions and specifically describing the alleged
        events, activities or omissions giving rise thereto and with respect to those
        events, activities or omissions for which a cure is possible, a reasonable
        opportunity to cure such breach; and provided further, however, that for
        purposes of determining whether any such Cause is present, no act or failure
        to
        act by Executive shall be considered "willful" if done or omitted to be done
        by
        Executive in good faith and in the reasonable belief that such act or omission
        was in the best interest of the Company and/or required by applicable
        law.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (e)    
Disability
        shall mean that as a result of Executive's incapacity due to physical or
        mental
        illness (as determined in good faith by a physician acceptable to the Company
        and Executive), Executive shall have been absent from the full-time performance
        of his duties with the Company for 120 consecutive days during any twelve
        (12)
        month period or if a physician acceptable to the Company and Executive advises
        the Company that it is likely that Executive will be unable to return to
        the
        full-time performance of his duties for 120 consecutive days during the
        succeeding twelve (12) month period.

      

      2.    
        Responsibility for Benefits. The Company will pay the entire cost of all
        benefits provided under this Severance Agreement, solely from its general
        assets. The benefits made available by this Severance Agreement are "unfunded,"
        and Executive is not required or permitted to make any contribution with
        respect
        to this Severance Agreement.

      

      3.    
Payment
        of
        Benefits. In the event Executive's employment is terminated (a) by the Company
        other than for Cause, Disability or Death or (b) by Executive for Good Reason
        (as defined herein), Executive shall receive the following severance benefits
        upon his satisfaction of the condition in paragraph 4 hereof: 

      

      
        	 	
                (iii)

              	
                his
                  Base Salary during the period commencing on the effective date
                  of such
                  termination and ending two (2) years later (the "Salary Continuation
                  Period"), as if Executive were still employed during the Salary
                  Continuation Period; and 

              

      

      

      
        	 	
                (iv)

              	
                during
                  the Salary Continuation Period

              

      

      

      (A)   Medical
        Insurance. Upon termination from employment, the Executive and his spouse
        and
        dependents shall be entitled to continue to be covered by the Company's
group
        medical, health and accident insurance plan (the “Then Current Company Benefit
        Plan”) to the extent such coverage is available to non-employees under the Then
        Current Company Benefit Plan and the Company shall pay all premiums therefore,
        and if such coverage under the Current Company Benefit Plan is not available
        to
        non-employees, then the Executive shall on his own seek to obtain COBRA coverage
        to the extent available and pay the COBRA premiums himself for the longest
        possible COBRA benefit coverage for himself, his spouse and his children
        under
        age 25. Upon the expiration of COBRA coverage or its non-availability for
        the
        Executive, his spouse and children under the age of 25, the Executive shall
        on
        his own obtain individual medical benefit plans for himself, his spouse and
        children under age 25. However, at any time after termination from employment,
        or, during employment at the time the Company expresses a desire to terminate
        the Executive, the Executive may seek to obtain individual benefit plans
        for
        himself, his spouse and children under age 25 (e.g. an early termination
        of, or
        not applying for coverage under COBRA; or, action taken by the Executive
        to do
        same if the Company expresses its desire to terminate the Executive. In
        circumstances where the Executive, his spouse and his children under age
        25 are
        not covered under the then Current Company Benefit Plan, then the Company
        shall
        reimburse the Executive for his actual out of pocket premium cost for the
        COBRA
        benefit or the individual benefit plans for himself, his spouse and his children
        under age 25, up to an aggregate amount not to exceed $20,000 per 12 month
        period (the “Non-Company Benefit Plan Premium Reimbursement”). IT
        IS THE EXECUTIVE’S OBLIGATION TO OBTAIN THE COBRA COVERAGE AND THE INDIVIDUAL
        BENEFIT PLAN COVERAGE, NOT THE COMPANY’S.
        The
        Company’s obligations under the Non-Company Benefit Plan Premium Reimbursement
        shall cease as follows:

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (x)     For
        the
        Executive, at such time as he reaches age 66, or is deceased, or is covered
        under another employer’s group medical plan as an employee or a family
        member.

      

      (y)     For
        the
        spouse (from time to time) of the Executive, at such time as she is age 66,
        or
        is deceased, or stops being the spouse of the Executive, or is covered under
        another employer’s group medical plan as an employee or a family
        member.

      

      (z)     For
        the
        children (natural or adopted) of the Executive, at such time as each reaches
        age
        25, or is deceased, or is covered under another employer’s group medical plan as
        an employee or a family member.

      

      (B)  
Non-Company
        Benefit Plan Premium Reimbursement Procedure. The Executive shall, within 10
        days of receiving a premium payment notice or other indicia of an invoice
        for
        the premium, notify the Company in writing (the “Notice of Premium”) of the
        exact amount of the premium along with a copy of the premium notice from
        the
        insurance carrier. Upon the Company’s receipt of the Notice of Premium, the
        Company shall, within 10 days thereafter send the noticed premium amount
        to
        the Executive (and not to the insurance carrier) via
        regular first class mail at the address provided by the Executive in the
        Notice
        of Premium. The Executive may select the premium mode (e.g., annual, quarterly
        monthly premium billing, etc.) and the Executive may arrange for up to two
        medical insurance policies each for himself, his spouse and his children
        under
        age 25.

      

      (C)    The
        risk of
        insurability is borne by the Executive, his spouse and his children under
        age
        25. The risk oaf insurance company failure is borne by the Executive, his
        spouse
        and his children under age 25. The risk of premium increases (beyond an
        aggregate of $20,000 per 12 month period) is borne by the Executive, his
        spouse
        and his children under age 25

      

      (D)    The
        Non-Company Benefit Plan Premium Reimbursement (i.e., an aggregate of $20,000
        per 12 month period) shall be indexed so as to have a five percent increase
        per
        year beginning on the first anniversary of the Executive’s termination.

       

      4.    
Conditions
        to Receipt of Benefits. Upon the occurrence of an event described in Section
        3
        above, Executive will be eligible for severance benefits to begin immediately.
        

      

      5.    
Termination
        Events Not Covered. Notwithstanding anything to the contrary contained herein,
        the Company shall not pay Executive severance benefits under this Severance
        Agreement if:

      

      (a)    
Executive
        terminates his employment with Company for a reason other than Good Reason
        as
        defined herein; or

      

      (b)    
Executive
        revokes his agreement to release the Company from any and all claims related
        to
        his employment pursuant to the Settlement Agreement and Release
        executed.

      

      6.    
How
        Severance Benefits Are Paid. The Company will pay severance benefits in
        installments through the Company's regular payroll procedure according to
        Executive's pay schedule at the time of termination of employment; provided
        however, the Administrator shall have the discretion to cause the Company
        to pay
        all severance benefits in a lump sum payment. Executive's severance benefits
        shall be subject to mandatory withholding, including federal, state and local
        income taxes, as well as FICA and withholding for applicable insurance
        premiums.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      7.    
Benefit
        Claims and Appeal Procedures. Executive has the right to make a written claim
        for benefits under this Severance Agreement. If all or part of Executive's
        claim
        for benefits is denied, or if there is a dispute regarding Executive's rights
        under this Severance Agreement, the Administrator will notify Executive in
        writing of the reasons for the denial of Executive's claim. The notice will
        refer to the appropriate provision of this Severance Agreement on which the
        denial or decision is based. The notice will also describe how claims are
        reviewed and outline the steps for an appeal. Usually, the Administrator
        will
        give Executive written notice of its decision within five (5) days of receipt
        of
        the claim. If Executive disagrees with the Administrator's decision, Executive
        may appeal and request a review of the case by the Administrator. Executive
        must
        request a review of the claim in writing within sixty (60) days after the
        Administrator notifies Executive of its decision. Executive's request must
        state
        why Executive disagrees with the decision, and Executive must include any
        information, questions or comments to support his appeal. Executive or his
        legal
        representative may review any documents related to the claim. The Administrator
        will review the appeal and notify Executive of its decision within five (5)
        days
        after receipt of the appeal. 

      

      9.    
Additional
        Information Regarding this Severance Agreement.

      

      (a)
        This
        Severance Agreement shall not be amended except by a written agreement executed
        by Executive and by an authorized officer of the Company (other than
        Executive).

      

      (b)
        The
        Employment Agreement and this Severance Agreement provides the sole and
        exclusive agreement concerning severance benefits for Executive in the event
        of
        a termination and replaces any and all prior plans, policies and practices
        relating to severance pay that may exist now or may have existed in the
        past.

      

      (c)
        To
        the extent not preempted by ERISA, the Employment Agreement and this Severance
        Agreement shall be governed by and construed according to the laws of the
        state
        of Texas.

      

      (d)
        If a
        provision of this Severance Agreement shall be held illegal or invalid, the
        legality or invalidity shall not affect the remaining provisions of this
        Severance Agreement, and this Severance Agreement shall be construed and
        enforced as if the illegal or invalid provision had not been
        included.

       

      (e)
        Executive acknowledges that no representation, promise or inducement has
        been
        made other than as set forth in the Employment Agreement and this Severance
        Agreement, and that he does not enter into this Employment Agreement and
        Severance Agreement in reliance upon any representation, promise or inducement
        not set forth herein and the Employment Agreement. The Employment Agreement
        and
        this Severance Agreement supersedes all prior negotiations and understandings
        of
        any kind with respect to the subject matter and contains all of the terms
        and
        provisions of the agreement between Executive and the Company with respect
        to
        the subject matter hereof. Any representation, promise or condition, whether
        written or oral, not specifically incorporated herein, shall be of no binding
        effect.

      

      10.    
Executive's
        Rights Under ERISA. As a participant under this Severance Agreement, Executive
        is entitled to certain rights and protections under ERISA. Executive may
        examine
        all documents relating to the Severance Agreement without charge. These may
        include annual financial reports, plan descriptions and all other official
        documents filed with the United States Department of Labor (if any). Executive
        may obtain copies of documents relating to this Severance Agreement and certain
        other information by writing to the Administrator. In addition to creating
        rights for the Executive as a participant under this Severance Agreement,
        ERISA
        imposes certain duties on the people who are responsible for operating this
        Severance Agreement. These people are called "fiduciaries." The fiduciaries
        have
        a duty to operate the Severance Agreement prudently and in the interest of
        the
        Executive. The Company may not terminate Executive's employment or otherwise
        discriminate against Executive in any way to prevent him from obtaining a
        severance benefit or exercising rights under ERISA. Under ERISA, Executive
        may
        take the following steps to enforce his rights: (a) if Executive requests
        certain materials from the administrator regarding this Severance Agreement
        and
        does not receive them within 10 days, Executive may file suit in a federal
        court; in such a case, the court may require the Administrator to provide
        the
        materials and pay Executive up to $500 a day until Executive receives the
        materials, unless the materials were not sent due to reasons beyond the control
        of the Administrator; (b) if Executive's claim for benefits is denied or
        ignored
        in whole or in part, Executive may file suit in federal court; (c) if Executive
        is discriminated against for pursuing a benefit or exercising ERISA rights,
        Executive may seek help from the United States Department of Labor or file
        suit
        in a federal court. If Executive files a suit, the court will decide who
        should
        pay court costs and legal fees. If Executive has any questions about this
        statement or about ERISA rights, Executive should contact the Administrator.
        Executive may also contact the nearest area office of the Pension and Welfare
        Benefit Administration, United States Department of Labor.

       

      Agent
        For
        Service of Legal Process: HYPERDYNAMICS CORPORATION

      

      Attention:
        Secretary

      
 

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this Severance Agreement
        under
        seal as of the date first set forth above (the individual party adopting
        the
        word "SEAL" as his seal).

       

    

    
      	 	
              COMPANY:

            	 
	 	 	 	 
	 	
              HYPERDYNAMICS
                CORPORATION

            	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	
              By:

            	 
	 
	 	 	
              Harry
                J. Briers

            	 
	 	 	
              Executive
                Vice President

            	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	
              EXECUTIVE:

            	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	
               
                

            	 
	 	 	
              Kent
                P. Watts

            	 
	 	 	 	 
	 	 	
              Address:

            	 
	 	 	
              3803
                Pine Branch Drive

            	 
	 	 	
              Pearland,
                Texas 77581EXHIBIT 10.1

                       TRANSITION AND SEVERANCE AGREEMENT

      THIS  TRANSITION  AND SEVERANCE  AGREEMENT (the  "Agreement")  is made and
entered into on this 18th day of August,  2006 (the  "Execution  Date"),  by and
between   METROPOLITAN  HEALTH  NETWORKS,   INC.,  a  Florida  corporation  (the
"Company"), and DAVID S. GARTNER ("Executive").

                                    RECITALS

      WHEREAS,  Executive is presently  employed as the Chief Financial  Officer
("CFO") of the Company;

      WHEREAS,  the Company and  Executive  mutually  agree to  terminate  their
employment  relationship  and provide for an orderly CFO  succession on mutually
beneficial terms;

      NOW, THEREFORE,  in consideration of the mutual promises contained herein,
the parties agree as follows:

      1. DEFINITION OF TERMS.  The following terms referred to in this Agreement
shall have the following meanings:

            (a) "Base Salary" shall mean $203,300 per annum.

            (b)  "Cause"  shall  mean shall  mean (i) an action or  omission  of
Executive  which  constitutes a material breach of, or failure or refusal (other
than by reason of his  disability)  to perform his duties under,  this Agreement
which is not cured  within  fifteen  (15) days  after  receipt by  Executive  of
written notice of same, (ii) fraud,  embezzlement,  misappropriation of funds or
breach of trust in connection with his services hereunder, (iii) conviction of a
felony or any other crime which  involves  dishonesty  or a breach of trust,  or
(iv) gross  negligence in connection with the performance of Executive's  duties
hereunder,  which is not cured within fifteen (15) days after written receipt by
Executive of written notice of same.

            (c) "Early  Separation  Date" shall mean, to the extent  applicable,
the earlier of (i) the date Executive provides notice of resignation or (ii) the
date Executive is terminated with or without Cause,  which Early Separation Date
shall, in all events, precede the Separation Date.

            (d)  "Effective  Date"  shall  mean the  eighth  (8th) day after the
Execution Date.

            (e) "Fifteen Month Compensation  Continuation Period" shall mean the
fifteen (15) month period immediately following the Separation Date.

            (f) "Prior Employment Agreement" shall mean that certain Amended and
Restated Employment  Agreement between Executive and the Company,  dated January
3, 2005.

            (g) "Separation  Date" shall mean October 16, 2006 (the date that is
ninety  (90) days  following  the  Company's  and  Executive's  commencement  of
transition and severance discussions) or such later date that is mutually agreed
to by the parties.

            (h)  "Transition  Period"  shall mean the period of time between the
Effective  Date  and  the  Separation  Date or the  Early  Separation  Date,  as
applicable.

            (i) "Twelve Month Compensation  Continuation  Period" shall mean the
twelve (12) month period immediately following the Early Separation Date.

      2.  TRANSITION  PERIOD AND  TERMINATION OF  EMPLOYMENT.  Executive and the
Company acknowledge and agree as follows:

                                  Page 1 of 13
<PAGE>

            (a)  Transition  Period.  The parties  intend that  Executive  shall
continue  his  employment  until  the  Separation  Date.   Notwithstanding   the
foregoing,  Executive  may  resign and the  Company  may  terminate  Executive's
employment with or without Cause prior to the Separation  Date.  While Executive
is employed by Company during the  Transition  Period,  Executive's  Base Salary
will continue  unchanged from what it was immediately  before the Effective Date
and Executive shall be entitled to continue to receive the benefits set forth in
Sections 3.3, 4.2 and 4.3 of the Prior  Employment  Agreement to the same extent
he was  entitled to receive such  benefits  immediately  prior to the  Effective
Date. The parties  acknowledge and agree that Executive's  employment during the
Transition Period shall be at-will, as defined under Florida law.

            (b)  Duties.   During  the  Transition   Period,   Executive   shall
professionally and diligently:

                  (i)  continue to serve as the CFO and report to the  Company's
Chief Executive Officer (the "CEO") and the Board of Directors of the Company;

                  (ii)  continue  to perform  the  duties,  roles and  functions
previously assigned to him as the CFO;

                  (iii) prepare and deliver to the CEO a report that  identifies
the duties,  roles and functions that have  previously been assigned to the CFO,
including an identification of all concerned functions and primary contacts;

                  (iv) at the  request  of the CEO from time to time  transition
and hand over his  responsibilities  to such other  person(s)  that the  Company
designates;

                  (v) finalize all  documentation  and reporting  related to his
responsibilities as reasonably necessary;

                  (vi)  generally  transfer  knowledge  regarding  the Company's
operations as reasonably requested;

                  (vii)  introduce  any  designated  individual to all concerned
functions and primary contacts; and

                  (viii) perform such other tasks and duties that the CEO and/or
the Board of Directors may reasonably assign to Executive.

      The parties may,  upon mutual  agreement,  delay the  Separation  Date and
thereby extend the Transition Period.

      During the Transition  Period,  Executive  shall devote such amount of his
time and  attention to the business and affairs of the Company as is  reasonably
necessary  to fulfill  the duties set forth in this  Section  2(b),  render such
services  to the best of his  ability  and use his best  efforts to promote  the
interests of the Company. During the Transition Period, Executive may reasonably
investigate alternative employment opportunities commencing after the Transition
Period  provided he notifies the Company's  CEO of any necessary  absences to do
so. During the Transition Period,  Executive may perform the duties set forth in
this Section 2(b) at the Company's  headquarters in West Palm Beach,  Florida or
at such other locations  selected by Executive that reasonably  enable Executive
to fulfill the duties set forth in this Section 2(b).

            (c)  Termination  of  Employment.  Unless  Executive  resigns  or is
terminated  earlier  with or  without  Cause,  Executive's  employment  with the
Company shall  terminate as of the close of business on the Separation  Date (as
such Separation  Date may be delayed in accordance with Section 2(b) above).  As
of the  earlier  of the Early  Separation  Date or the  Separation  Date,  it is
mutually  agreed by the parties that  Executive will no longer be an employee of
the Company and will no longer hold any  positions  or offices with the Company.
Upon the termination of Executive's  employment for any reason,  Executive shall
not be entitled to any payments, benefits, damages, awards or compensation other
than as provided  by this  Agreement.  Without  regard to the reason for, or the
timing of,  Executive's  termination of employment and subject to the provisions
of Section 3 below:

                                  Page 2 of 13
<PAGE>

                  (i) the Company shall pay Executive any earned but unpaid Base
Salary due for periods up through the Separation Date;

                  (ii) the  Company  shall pay  Executive  any  earned by unused
vacation and/or sick days for periods up through the Separation Date ;

                  (iii) following  submission  within thirty (30) days after the
Separation  Date of a proper  expense  report by  Executive,  the Company  shall
reimburse  Executive for all business expenses  reasonably incurred by Executive
in connection with the business of the Company prior to the Separation Date.

            (d) Stock Options. Executive and the Company both hereby acknowledge
and agree that, as of the date hereof, the Company has granted him the following
options to purchase shares of the Company's common stock:

GRANT DATE         OPTIONS GRANTED    PRICE PER SHARE   SHARES VESTED AS OF THE
----------         ---------------    ---------------   -----------------------
                                                               DATE HEREOF
September 22, 2003     180,000             $0.35                 180,000
November 5, 2004       150,000             $1.83                 37,500

      Executive  further  acknowledges  and agrees  that all  outstanding  stock
options held by Executive  shall remain  subject to the terms and  conditions of
the applicable Company stock option plan and agreement evidencing the option.

            (e) Parking Space. During the Transition Period,  Executive shall be
entitled to retain his assigned  parking space at the Company's  headquarters in
West Palm Beach, Florida.

      3. CONSEQUENCES OF TERMINATION OF EMPLOYMENT.

            (a) Benefits  Payable if Executive (i) Discharges His Duties Through
the  Separation  Date or (ii) Is  Terminated  Other Than For Cause  Prior to the
Separation  Date.  In  exchange  for  Executive  signing and not  revoking  this
Agreement  pursuant to Section 25 hereof,  and his promise to sign,  deliver and
not revoke the Release of Claims in the form  attached  hereto as Exhibit A (the
"Release") on the  Separation  Date, the Company agrees to provide the following
severance payments and benefits to Executive if either (i) Executive  discharges
the duties set forth in Section  2(b) above  until the  Separation  Date or (ii)
Executive's employment is terminated without Cause prior to the Separation Date:

                  (i)  The  Company   shall   accelerate   the  vesting  on  all
outstanding  and unvested  stock options held by Executive as of the  Separation
Date.

                  (ii)  During  the  Fifteen  Month  Compensation   Continuation
Period, Executive shall be entitled to receive payments equal to his Base Salary
(the "Continuation  Payments").  The Continuation Payments shall be paid monthly
in accordance with the Company's normal payroll practices.

                  (iii)  During  the  Fifteen  Month  Compensation  Continuation
Period,  Executive  shall be  entitled  to  receive  the  benefits  set forth in
Sections  4.2 of the  Prior  Employment  Agreement  to the  same  extent  he was
entitled to receive such benefits immediately prior to the Effective Date.

                  (iv) Executive will be reimbursed for  Executive's  actual and
reasonable  attorney's  fees incurred in connection with the negotiation of this
Agreement  as  documented  to the  Company  by  detailed  invoices  provided  to
Executive by his attorney and  forwarded to the Company's  General  Counsel (the
"Legal Fees").  The Company will pay the Legal Fees within five business days of
receiving a detailed invoice.

                  (v) The Company shall transfer to Executive the right,  title,
and interest in the laptop computer that was issued to him by the Company.  This
item shall be transferred to Executive  as-is.  However,  Executive  agrees that
immediately after the Executive's  termination of employment for any reason, the
Executive shall remove any and all Company documents and other property.

                                  Page 3 of 13
<PAGE>

                  (vi) Executive  shall be permitted to use the Company's  email
system for a period of one (1) year following the Separation  Date,  provided he
complies with any and all Company policies related thereto. The Company reserves
the right to terminate Executive's email use if such use violates Company policy
in its sole  discretion.  Executive  and Company  agree to develop a legend that
will appear on the bottom of all emails sent by the Executive, which legend will
fairly reflect the Executive's then current relationship to the Company, if any.

            (b) Benefits  Payable If Executive (i) Is Terminated for Cause Prior
to the Separation  Date or (ii) Resigns Prior to the Separation  Date. If, prior
to the Separation Date, either (a) the Company terminates Executive's employment
for Cause or (b)  Executive  resigns  his  employment,  then  Executive  will be
eligible to receive the  payments and benefits set forth in Section 2(a) and (c)
earned up through the date his employment is terminated for Cause or he resigns,
and the Company agrees to provide the following  severance payments and benefits
to Executive:

                  (i) During the Twelve Month Compensation  Continuation Period,
Executive  shall be  entitled to the  Continuation  Payments.  The  Continuation
Payments shall be paid monthly in accordance  with the Company's  normal payroll
practices.

                  (ii) During the Twelve Month Compensation Continuation Period,
Executive shall be entitled to receive the benefits set forth in Sections 4.2 of
the Prior  Employment  Agreement  to the same extent he was  entitled to receive
such benefits immediately prior to the Effective Date.

                  (iii) Executive will be reimbursed for Executive's  Legal Fees
as detailed in Section 3(a)(iv). The Company will pay the Legal Fees within five
business days of receiving detailed invoices.

                  (iv) The Company shall transfer to Executive the right, title,
and interest in the laptop computer that was issued to him by the Company.  This
item shall be transferred to Executive  as-is.  However,  Executive  agrees that
immediately after the Executive's  termination of employment for any reason, the
Executive shall remove any and all Company documents and other property.

                  (v) Executive  shall be permitted to use the  Company's  email
system  for a period  of one (1)  year  following  the  Early  Separation  Date,
provided he complies  with any and all Company  policies  related  thereto.  The
Company  reserves  the  right to  terminate  Executive's  email  use if such use
violates Company policy in its sole  discretion.  Executive and Company agree to
develop a legend  that  will  appear on the  bottom  of all  emails  sent by the
Executive,  which  legend  will  fairly  reflect the  Executive's  then  current
relationship to the Company, if any.

            (c) Benefits  Payable if Executive Dies or Becomes Disabled Prior to
the  Separation  Date.  In the event of the death or disability of the Executive
prior to the Separation Date, the Company shall pay to the deceased Executive or
his estate (i) any unpaid Base Salary,  vacation  and sick time accrued  through
the date of Executive's death or disability and (ii) the severance  payments and
benefits set forth in Sections  3(a)(i),  3(a)(ii)  and  3(a)(iii)  above,  upon
Executive  signing,  delivering  and  not  revoking  (or his  executor  signing,
delivering and not revoking in the event Executive dies) the Release as required
in Section 3(a).

      4. PRESERVATION OF INDEMNITY AND DIRECTORS AND OFFICERS  INSURANCE RIGHTS.
Nothing in this Agreement is intended to, or does, waive  Executive's  rights to
indemnity and defense from the Company  arising out of his duties as an employee
and officer of the Company to the extent  that he is entitled to  indemnity  and
defense pursuant to Florida law, the Company's Articles of Incorporation and the
Company's  Bylaws.  This Agreement  shall not divest  Executive of any liability
insurance  rights,  if any,  he may have by  virtue of his  employment  with the
Company.

      5. RELEASES.

                                  Page 4 of 13
<PAGE>

            (a)  Executive's  Release of the  Company.  Executive  releases  and
discharges the Company,  the Company's  present and former officers,  directors,
employees,  representatives,  attorneys,  agents,  insurers,  parent  companies,
subsidiaries,  predecessors, affiliates, and successors from any and all claims,
liabilities  or  obligations  of every  kind and  nature,  whether  now known or
unknown,  suspected  or  unsuspected,  which  Executive  ever  had or  now  has,
including but not limited to all claims arising out of or in connection with (i)
his  employment by the Company or  termination  of employment  with the Company,
including but not limited to any contention that Executive was  discriminated or
retaliated against, harassed,  wrongfully terminated,  constructively terminated
or injured by the Company in any way or that the Company  breached any agreement
with  Executive or other  obligation  to  Executive,  (ii) any illness,  injury,
impairment, or other physical, mental, psychological or other medical condition,
any  claim for  benefits,  including  without  limitation  long term  disability
benefits,  short term disability benefits,  other disability benefits, and (iii)
any other employment-related  benefits,  including but not limited to all claims
for stock options or the value of any stock options.  This release  includes all
federal and state common law claims (including those for contract and tort), and
claims  under any  federal or state  statute or  ordinance,  including,  without
limitation,  the Employee  Retirement Security Income Act of 1974, the Americans
with  Disabilities  Act, Title VII of the Civil Rights Act of 1964 (as amended),
the Age Discrimination in Employment Act, 42 U.S.C. ss.1981, 42 U.S.C. ss. 1983,
the  Family  Medical  Leave  Act,  the  United  States   Constitution   and  the
Sarbanes-Oxley Act, 18 U.S.C. ss. 1514.

      Executive represents that he is unaware of any act taken by himself in his
capacity  as an  employee  or officer of the  Company,  Inc. or by any other the
Company  employee  as of the date  hereof  which  gives rise to a  violation  of
federal or state law or  regulation  and which  facts  have not been  previously
reported by Executive to the Company management.

            (b)  Company's  Release  of  Executive.  The  Company  releases  and
discharges  Executive  from any and all claims,  liabilities  or  obligations of
every kind and nature,  whether now known or unknown,  suspected or unsuspected,
which the Company ever had or now has,  including  but not limited to all claims
arising out of or in connection with his employment by the Company. This release
includes all federal and state common law claims  (including  those for contract
and  tort),  and  claims  under  any  federal  or state  statute  or  ordinance.
Notwithstanding  the above,  nothing in this Agreement shall act as a release or
waiver of any claim by the Company against  Executive for the theft,  misuse, or
improper disclosure of the Company's  confidential,  proprietary or trade secret
information.

            (c) No Assignment of Claims. Except as authorized by this Agreement,
Executive  acknowledges  and agrees  that he has not  assigned,  transferred  or
conveyed to any person or entity any claim,  demand,  liability,  obligation  or
cause of action  released  by this  Agreement.  Executive  agrees to  indemnify,
defend and hold  harmless  the Company  and/or any  present or former  officers,
directors,  employees,  representatives,  attorneys,  agents,  insurers,  parent
companies, predecessors,  affiliates,  subsidiaries or successors of the Company
from any claims which may be asserted  against them based on, or arising out of,
any such assignment, transfer, or conveyance.

      6. MITIGATION. The earnings, payments, equity and benefits contemplated by
this  Agreement,  shall not be reduced  by any  earnings,  payments,  equity and
benefits that Executive may receive from any other source.

      7.  NON-DISPARAGEMENT AND PUBLIC ANNOUNCEMENTS  REGARDING SEPARATION.  The
officers and directors of the Company agree not to make any  defamatory  remarks
about  Executive to third parties.  Executive  agrees not to make any defamatory
remarks about the Company (including its employees, officers, directors, agents,
products,  services,  or business  practices).  The parties  understand  that by
agreeing to the provisions of this Section,  they are waiving rights  guaranteed
by  the  First  Amendment  of the  United  States  Constitution  and  State  law
counterparts.  Subject to the Company's disclosure obligations under the federal
securities  laws,  the parties shall mutually agree to the content of any public
announcements  made by the  Company  or Gartner  regarding  the  termination  of
Executive's employment with the Company and the terms of this Agreement.

      8. EMPLOYMENT  INFORMATION.  Should  Executive  desire to have the Company
provide  any  person  or  entity  with any  information  concerning  Executive's
employment,  Executive  shall  direct  such  person  or entity  to  contact  the
Company's Chief Executive Officer. The Company shall respond to any such inquiry
by confirming:  (i) the dates of Executive's  employment with the Company,  (ii)
the titles of Executive's job positions with the Company, (iii) Executive's Base
Salary  and  (iv)  that  it  is  the  Company's  policy  to  provide  only  this
information.

      9.  SUCCESSORS  AND ASSIGNS.  Any successor or assign  (whether  direct or
indirect and whether by purchase, lease, merger,  consolidation,  liquidation or
otherwise) to all or substantially  all of the Company's  business and/or assets
or to the rights and/or  obligations  of this  Agreement,  shall be obligated to
perform this  Agreement in the same manner and to the same extent as the Company
would be required to perform it in the absence of a succession or  reassignment.
Without  the  written  consent  of the  Company,  Executive  shall not assign or
transfer this  Agreement or any right or obligation  under this Agreement to any
other  person  or  entity.  Notwithstanding  the  foregoing,  the  terms of this
Agreement and all rights of Executive  hereunder  shall inure to the benefit of,
and be enforceable by, Executive's personal or legal representatives, executors,
administrators, spouse, successors, heirs, distributees, devisees and legatees.

                                  Page 5 of 13
<PAGE>

      10. NOTICES. All notices required or permitted to be given hereunder shall
be in writing and shall be personally  delivered by courier,  sent by registered
or certified  mail,  return  receipt  requested  or sent by confirmed  facsimile
transmission addressed as set forth herein.  Notices personally delivered,  sent
by facsimile or sent by overnight  courier  shall be deemed given on the date of
delivery and notices  mailed in accordance  with the  foregoing  shall be deemed
given upon the earlier of receipt by the  addressee,  as evidenced by the return
receipt thereof,  or three (3) days after deposit in the U.S. mail. Notice shall
be sent (i) if to the Company,  addressed to Metropolitan Health Networks, Inc.,
250 South Australian  Avenue,  Suite 400, West Palm Beach,  Florida 33401, Attn:
Roberto L.  Palenzuela,  General Counsel,  and (ii) if to the Executive,  to his
address as  reflected on the payroll  records of the  Company,  or to such other
address  as either  party  hereto  may from  time to time give  notice of to the
other.

      11.  INTEGRATION.  This  Agreement  represents  the entire  agreement  and
understanding  between the parties as to the subject matter hereof and except as
explicitly referenced herein, supersedes all prior agreements whether written or
oral, between Executive and the Company. By way of clarification, unless revoked
in accordance with Section 25 hereof, this Agreement hereby terminates the Prior
Employment Agreement.

      12. MODIFICATION;  WAIVER. No provision of this Agreement may be modified,
waived or discharged unless the  modification,  waiver or discharge is agreed to
in writing and signed by Executive and the Company's Chief Executive Officer. No
waiver by either Party of any breach of, or of compliance with, any condition or
provision of this  Agreement by the other Party shall be  considered a waiver of
any other  condition  or  provision  or of the same  condition  or  provision at
another time. Failure or delay on the part of either Party hereto to enforce any
right,  power, or privilege  hereunder will not be deemed to constitute a waiver
thereof.

      13. CONFIDENTIAL INFORMATION. The Executive shall not at any time divulge,
communicate, use to the detriment of the Company or for the benefit of any other
person or  persons,  or  misuse in any way,  any  Confidential  Information  (as
hereinafter defined) pertaining to the business of the Company. Any Confidential
Information  or data now or hereafter  acquired by Executive with respect to the
business of the Company (which shall include, but not be limited to, information
concerning the Company's financial condition, prospects, technology,  customers,
suppliers,  sources of leads and  methods of doing  business)  shall be deemed a
valuable,  special and unique asset of the Company that is received by Executive
in confidence and as a fiduciary,  and Executive shall remain a fiduciary to the
Company with respect to all of such information. For purposes of this Agreement,
"Confidential  Information" means information disclosed to Executive or known by
Executive  as a  consequence  of  or  through  his  employment  by  the  Company
(including  information  conceived,  originated,   discovered  or  developed  by
Executive) prior to or after the date hereof, and not generally known, about the
Company or its business.  Notwithstanding the foregoing, nothing herein shall be
deemed to restrict  Executive from  disclosing  Confidential  Information to the
extent required by law.

      14.  CONFLICTING  OBLIGATIONS.  The  parties  certify  that  each  has  no
outstanding  agreement  or  obligation  that  is in  conflict  with  any  of the
provisions of this Agreement,  or that would preclude others from complying with
the provisions  hereof,  and further  certifies that neither will enter into any
such conflicting agreement.

      15.  SEVERABILITY.  The parties  hereby agree that each  provision  herein
shall be treated as a separate and independent clause, and the  unenforceability
of any one clause shall in no way impair the  enforceability of any of the other
clauses  herein.  Moreover,  if one or more of the provisions  contained in this
Agreement  shall  for any  reason be held to be  excessively  broad as to scope,
activity  or  subject  so as to be  unenforceable  at  law,  such  provision  or
provisions  shall be construed by the appropriate  judicial body by limiting and
reducing it or them, so as to be enforceable to the extent  compatible  with the
applicable law as it shall then appear.

      16.  NO  REPRESENTATIONS.  Each  party  represents  that  it has  had  the
opportunity to consult with an attorney and financial advisor, and has carefully
read and  understands  the scope and effect of the provisions of this Agreement.
Neither  party has relied upon any  representations  or  statements  made by any
other party hereto which are not specifically set forth in this Agreement.

                                  Page 6 of 13
<PAGE>

      17. NON-SOLICITATION AND NON-COMPETITION.

            (a) During  Executive's  employment  with the Company and continuing
through  and  until the date that is two (2)  years  from the  Separation  Date,
Executive shall not, directly or indirectly:

                  (i) Solicit any employee or consultant of the Company to cease
providing  services  to the  Company,  or to join  another  Company  and thereby
provide a reduced level of service to the Company; and

                  (ii)  Solicit any customer of the Company to reduce the amount
of business the customer does with the Company.

                  (iii) Should Executive breach this Section 17 at any time, the
Company shall be entitled to cease making any and all payments to Executive.

            (b) During  Executive's  employment  with the Company and continuing
through  and  until  the date  that is one (1) year  from the  Separation  Date,
Executive shall not,  directly or indirectly,  engage in or have any interest in
any sole  proprietorship,  partnership,  corporation  or  business  or any other
person or entity (whether as an employee,  officer,  director,  partner,  agent,
security holder, creditor,  consultant or otherwise) that directly or indirectly
(or through  any  affiliated  entity)  engages in  competition  with the Company
(based on the business in which the Company was engaged or was actively planning
on being engaged as of the date of termination of Executive's  employment and in
the geographic areas in which the Company  operated or was actively  planning on
operating as of date of termination of Executive's  employment);  provided, that
such provision shall not apply to the  Executive's  ownership of common stock of
the  Company  or the  acquisition  by  Executive,  solely as an  investment,  of
securities of any issuer that is registered  under Section 12(b) or 12(g) of the
Securities Exchange Act of 1934, as amended, and that are listed or admitted for
trading on any United States national  securities exchange or that are quoted on
the National  Association of Securities Dealers Automated  Quotations System, or
any similar system or automated dissemination of quotations of securities prices
in common use, so long as  Executive  does not  control,  acquire a  controlling
interest  in or become a member of a group  which  exercises  direct or indirect
control  or,  more  than five  percent  of any  class of  capital  stock of such
corporation.

      18. OWNERSHIP OF DEVELOPMENTS. All copyrights,  patents, trade secrets, or
other  intellectual  property  rights  associated  with  any  ideas,   concepts,
techniques,  inventions,  processes, or works of authorship developed or created
by Executive during the course of performing work for the Company or its clients
(collectively,  the "Work Product") shall belong  exclusively to the Company and
shall,  to the extent  possible,  be considered a work made by the Executive for
hire for the Company  within the meaning of Title 17 of the United  States Code.
To the extent the Work Product may not be considered  work made by the Executive
for hire for the Company,  the  Executive  agrees to assign,  and  automatically
assign at the time of creation of the Work Product,  without any  requirement of
further consideration,  any right, title, or interest Executive may have in such
Work Product. Upon the request of the Company, Executive shall take such further
actions,  including execution and delivery of instruments of conveyance,  as may
be appropriate to give full and proper effect to such assignment.

      19. BOOKS AND RECORDS.  All books,  records,  and accounts relating in any
manner to the customers or clients of the Company, whether prepared by Executive
or otherwise  coming into the  Executive's  possession,  shall be the  exclusive
property  of the Company  and shall be  returned  immediately  to the Company on
termination of the Executive's  employment hereunder or on the Company's request
at any time.

                                  Page 7 of 13
<PAGE>

      20. ACKNOWLEDGEMENT BY EXECUTIVE. Executive acknowledges and confirms that
(a) the  restrictive  covenants  contained  in  Sections  13,  17, 18 and 19 are
reasonably  necessary  to  protect  the  legitimate  business  interests  of the
Company,  and (b) the  restrictions  contained  in  Sections  13,  17, 18 and 19
(including  without  limitation  the  length  of the term of the  provisions  of
Sections 13, 17, 18 and 19) are not overbroad,  overlong,  or unfair and are not
the result of overreaching,  duress or coercion of any kind.  Executive  further
acknowledges and confirms that his full,  uninhibited and faithful observance of
each of the  covenants  contained  in this  Sections  13, 17, 18 and 19 will not
cause him any undue hardship,  financial or otherwise,  and that  enforcement of
each of the  covenants  contained  herein  will not impair his ability to obtain
employment  commensurate with his abilities and on terms fully acceptable to him
or otherwise to obtain income  required for the  comfortable  support of him and
his  family  and the  satisfaction  of the  needs  of his  creditors.  Executive
acknowledges  and  confirms  that his special  knowledge  of the business of the
Company is such as would cause the Company  serious injury or loss if he were to
use such ability and knowledge to the benefit of a competitor or were to compete
with the Company in  violation  of the terms of Sections  13, 17, 18 and 19. The
Executive further  acknowledges that the restrictions  contained in Sections 13,
17, 18 and 19 are  intended to be, and shall be, for the benefit of and shall be
enforceable  by, the Company's  successors  and assigns.  Solely for purposes of
Sections 13, 17, 18 and 19, the term  "Company"  also shall include any existing
or future subsidiaries of the Company that are operating during the time periods
described herein and any other entities that directly or indirectly, through one
or more intermediaries,  control, are controlled by, or are under common control
with, the Company during the periods described herein. In the event that a court
of competent jurisdiction shall determine that any provision of Sections 13, 17,
18 or 19 is invalid or more  restrictive  than permitted under the governing law
of such  jurisdiction,  then only as to enforcement of this Article 6 within the
jurisdiction of such court,  such provision shall be interpreted and enforced as
if it provided for the maximum  restriction  permitted under such governing law.
It is recognized and hereby  acknowledged by the parties hereto that a breach by
Executive of any of the covenants contained in Sections 13, 17, 18 or 19 of this
Agreement will cause  irreparable  harm and damage to the Company,  the monetary
amount of which may be  virtually  impossible  to  ascertain.  As a result,  the
Executive  recognizes and hereby acknowledges that the Company shall be entitled
to an  injunction  from  any  court  of  competent  jurisdiction  enjoining  and
restraining  any violation of any or all of the covenants  contained in Sections
13, 17, 18 or 19 of this  Agreement by the  Executive or any of his  affiliates,
associates,  partners or agents,  either  directly or indirectly,  and that such
right to  injunction  shall be  cumulative  and in addition  to  whatever  other
remedies the Company may possess.

      21.  HEADINGS.  The headings used herein are for reference  only and shall
not affect the construction of this Agreement.

      22. GOVERNING LAW; VENUE.  This Agreement is executed and delivered in the
State of Florida and shall be construed and enforced in accordance with the laws
and decisions of that State,  without reference to its choice of law rules. Each
party  hereby  irrevocably  and  unconditionally  consents  and  submits  to the
exclusive  jurisdiction  of the courts of the State of  Florida  sitting in Palm
Beach County,  Florida and of the United States  District Court for the Southern
District  of Florida for any  actions,  suits or  proceedings  arising out of or
relating to this  Agreement and the  transactions  contemplated  hereby and each
party agrees not to commence any action,  suit or  proceeding  relating  thereto
except in such courts.  Each party  further  agrees that any service of process,
summons,  notice or  document by U.S.  registered  mail to its address set forth
herein shall be effective service of process for any action,  suit or proceeding
brought against it in any such court. Each party irrevocably and unconditionally
waives any  objection to the laying of venue of any action,  suit or  proceeding
arising out of this Agreement or the  transactions  contemplated  hereby in such
courts,  and irrevocably and  unconditionally  waives and agrees not to plead or
claim in any such court that any action,  suit or proceeding brought in any such
court has been brought in an inconvenient forum.

      23.  BEST  EFFORTS.  The parties  agree to use their best  efforts to give
effect to the  intent  of this  Agreement.  Executive  agrees  to  execute  such
instruments and documents as may be deemed necessary or desirable by the Company
to give effect to the terms and conditions of this Agreement.

      24.  COUNTERPARTS AND FACSIMILE.  This Agreement may be executed in one or
more counterparts,  each of which shall be deemed an original,  but all of which
together  shall  constitute  one and the same  instrument.  A fax signature page
shall be deemed the  equivalent of an original for the purpose of effecting this
Agreement.

      25. OWBPA  DISCLOSURES.  Executive  hereby  acknowledges,  understands and
agrees that:

            (a) Executive may have, and has had, at least  twenty-one  (21) days
after  receipt of this  Agreement  within  which he may review and  consider it,
discuss it with an  attorney of his own  choosing,  and decide to execute or not
execute this Agreement;

            (b)  Executive  has  seven  (7) days  after  the  execution  of this
Agreement within which he may revoke this Agreement;

                                  Page 8 of 13
<PAGE>

            (c) In order to revoke this Agreement, Executive must deliver to the
Company's  General  Counsel on or before  seven (7) days after the  execution of
this Agreement, a letter stating that he is revoking this Agreement; and

            (d) This Agreement shall not become  effective or enforceable  until
after the  expiration of seven (7) days  following the date  Executive  executes
this Agreement.

      26.  VOLUNTARY   EXECUTION  OF  AGREEMENT.   This  Agreement  is  executed
voluntarily  and without any duress or undue  influence on the part or behalf of
the parties  hereto,  with the full  intent of  Executive  releasing  all of his
claims. Both parties acknowledge that:

            (a) They have read this Agreement;

            (b) They have been represented in the preparation,  negotiation, and
execution of this Agreement by legal counsel and financial advisors of their own
choice or that they have voluntarily declined to seek such assistance;

            (c) They understand the terms and consequences of this Agreement and
of the release it contains; and

            (d) They are fully  aware of the legal  and  binding  effect of this
Agreement.

      27. NO THIRD  PARTY  BENEFICIARY.  Nothing  expressed  or  implied in this
Agreement is intended, or shall be construed,  to confer upon or give any person
other than the Company, the parties hereto and their respective heirs,  personal
representatives,  legal  representatives,  successors and assigns, any rights or
remedies under or by reason of this Agreement.

      28.  WAIVER OF JURY TRIAL.  EXECUTIVE  AND THE COMPANY  HEREBY  KNOWINGLY,
VOLUNTARILY AND  INTENTIONALLY  WAIVE THE RIGHT EACH MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY LITIGATION  BASED HEREON OR ARISING OUT OF, UNDER OR OTHERWISE
IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING,  STATEMENTS
(ORAL OR WRITTEN) OR ACTIONS OF ANY PARTY.

      29. ATTORNEYS FEES. In the event of any litigation  between the parties to
this Agreement,  the prevailing party shall be entitled to reasonable attorneys'
fees and court costs through both the trial level and any applicable appeals.

                             SIGNATURE PAGES FOLLOW

                                  Page 9 of 13
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date set forth above.

                                     By: /s/ David S. Gartner
                                        ---------------------
                                     David S. Gartner

                                     METROPOLITAN HEALTH NETWORKS, INC.

                                     By:  /s/ Michael M. Earley
                                          ---------------------
                                     Name: Michael M. Earley
                                     Title:Chairman and Chief Executive Officer

                                 Page 10 of 13
<PAGE>

                                                                       EXHIBIT A

                                RELEASE OF CLAIMS

      This Release of Claims ("Release") is made and entered into by and between
DAVID S. GARTNER, on behalf of himself and his agents,  representatives,  heirs,
executors,  administrators,  survivors  and  assigns  (hereinafter  collectively
"Executive") and METROPOLITAN HEALTH NETWORKS, INC., and each of its affiliates,
subsidiaries,  successors, and their respective employees,  officers, directors,
agents,  legal   representatives  and  assigns  (hereinafter   collectively  the
"Company").  Executive  and  the  Company  are  hereinafter  referred  to as the
"Parties."

      For  and  in  consideration  of  the  mutual  promises,   covenants,   and
undertakings  contained  herein and for other good and sufficient  consideration
receipt of which is hereby acknowledged,  the Parties agree to the terms of this
Release as follows:

            1. This Release,  and  compliance  with this  Release,  shall not be
construed  as an  admission  by either  party of a  violation  of the  rights or
interests  of the other party or of any other  individual  or entity;  nor shall
this Release and compliance  with this Release be construed as an admission of a
violation of any order, ruling, law, statute, regulation,  contract or covenant,
express or implied.  The parties  disclaim and deny any such  violation  and any
liability that would be incurred as a result.

            2.  Executive  releases and  discharges  the Company,  the Company's
present and former officers, directors, employees,  representatives,  attorneys,
agents, insurers, parent companies, subsidiaries,  predecessors, affiliates, and
successors from any and all claims, liabilities or obligations of every kind and
nature, whether now known or unknown, suspected or unsuspected,  which Executive
ever had or now has,  including but not limited to all claims  arising out of or
in  connection  with  (i)  his  employment  by the  Company  or  termination  of
employment  with the Company,  including but not limited to any contention  that
Executive  was  discriminated  or  retaliated  against,   harassed,   wrongfully
terminated,  constructively  terminated  or injured by the Company in any way or
that the Company  breached any agreement with  Executive or other  obligation to
Executive,  (ii) any illness,  injury,  impairment,  or other physical,  mental,
psychological  or other medical  condition,  any claim for  benefits,  including
without  limitation  long  term  disability  benefits,   short  term  disability
benefits,  other  disability  benefits,  and (iii) any other  employment-related
benefits, including but not limited to all claims for stock options or the value
of any stock options.  This release  includes all federal,  state,  and non-U.S.
statutory  claims,  federal,  state, and non-U.S.  common law claims  (including
those for contract and tort),  and claims under any federal,  state, or non-U.S.
statute or ordinance,  including,  without  limitation,  the Employee Retirement
Security Income Act of 1974, the Americans with  Disabilities  Act, Title VII of
the Civil Rights Act of 1964 (as amended),  the Age Discrimination in Employment
Act, 42 U.S.C.  ss.1981,  42 U.S.C.  ss. 1983, the Family Medical Leave Act, the
United States Constitution and the Sarbanes-Oxley Act, 18 U.S.C. ss. 1514.

            3. The Company  releases and  discharges  Executive from any and all
claims,  liabilities or obligations of every kind and nature,  whether now known
or unknown,  suspected  or  unsuspected,  which the Company ever had or now has,
including but not limited to all claims arising out of or in connection with his
employment  by the Company.  This  release  includes  all  federal,  state,  and
non-U.S.  statutory  claims,  federal,  state and  non-U.S.  common  law  claims
(including those for contract and tort), and claims under any federal, state, or
non-U.S.  statute  or  ordinance.  Notwithstanding  the  above,  nothing in this
Release  shall act as a waiver or release of any claims by the  Company  against
Executive  for the  theft,  misuse,  or  improper  disclosure  of the  Company's
confidential, proprietary and trade secret information.

            4. The  Parties  understand  and  expressly  agree  that  except  as
provided in this Release and the Transition and Severance Agreement this Release
extends to all claims arising prior to the date of their signing of this Release
of every nature and kind  whatsoever,  whether known to them or not,  except any
rights or  obligations  created by this Release or the  Transition and Severance
Agreement.

      The parties  have had the  opportunity  to consult  with and be advised by
counsel regarding the meaning and effect of this provision and agree voluntarily
to waive their rights,  except as described in this paragraph,  and affirm their
intention to release not only claims known but those unknown to them which arose
or may arise out of Executive's  employment with the Company or its termination,
and they hereby do release all such known and unknown claims.

                                 Page 11 of 13
<PAGE>

            5. The Parties hereto  acknowledge that they: a) have carefully read
and  understood  all of the  terms  and  conditions  of  this  Release;  b) have
discussed and reviewed this Release with their  respective  attorneys;  c) agree
with the terms and  conditions of this  Release;  and d) enter into this Release
voluntarily and knowingly.  The Release's  terms shall not be construed  against
the drafter.

            6. The Parties  agree that this  Release  shall be final and binding
upon the Parties,  their successors,  and assigns,  and that any changes in this
Release, whether by additions,  deletions, waivers, amendments or modifications,
may be made only in writing and signed by all Parties.

            7. The  Parties  agree  that this  Release  sets  forth  the  entire
agreement between the Parties and supersedes any other understanding, promise or
Release  directly  or  indirectly  related  to it,  except  the  Transition  and
Severance  Agreement to which it is attached,  which it does not supercede.  The
parties agree that,  notwithstanding the terms of this Release,  they will honor
the terms of the Transition and Severance  Agreement.  Other than as provided by
this  Release,  no  promise or  inducement  has been  offered to the  respective
parties.

            8. If any part of this Release  shall be  determined  to be illegal,
invalid or unenforceable,  the remaining part shall not be affected thereby, and
said illegal, unenforceable or invalid parts shall be deemed not to be a part of
this Release.

            9. This Release is to be interpreted in accordance  with Florida law
without regard to its conflict of law provisions.

            10. Prior to execution of this  Release,  Executive  and the Company
have  apprised  themselves of  sufficient  information  in order that they might
intelligently  exercise  their own judgment  concerning  whether to sign it. The
Company has informed  Executive in writing to consult an attorney before signing
this Release,  and he has done so. The Company has also given  Executive 21 days
in which to consider this Release, if he wishes. Executive also understands that
for a period of 7 days after he signs this  Release he may revoke  this  Release
and that the Release  shall not become  effective  until the eighth day after he
signs  it.  In order to revoke  this  Release,  Executive  must  deliver  to the
Company's  General Counsel,  Roberto L. Palenzuela,  on or before seven (7) days
after the execution of this Agreement, a letter stating that he is revoking this
Release.  Should  Executive  revoke  this  Release,  he will not be  entitled to
receive any benefits under the Transition and Separation Agreement to which this
Release is attached as an Exhibit.

            11. The Parties  represent that they have  discussed  thoroughly all
aspects of this Release with their respective attorneys, fully understand all of
the provisions of the Release, and are voluntarily entering into this Release.

            12. The Parties  acknowledge  that,  except as  expressly  set forth
herein,  no  representation of any kind or character has been made to induce the
execution of this Release.

            13. This Release may be executed in one or more  counterparts,  each
of which shall be deemed an original, but all of which together shall constitute
one and the  same  instrument.  A faxed  signature  page  shall  be  deemed  the
equivalent of an original for the purpose of effecting this Release.

            14. The Company represents and warrants that the undersigned has the
authority  to act on behalf of the  Company  and to bind the Company and all who
may claim through it to the terms and  conditions of this Release and the person
signing below on behalf of the Company warrants that he or she has the authority
to bind the Company.  Executive represents and warrants that he has the capacity
to act on his own behalf  and on behalf of all who might  claim  through  him to
bind them to the terms and  conditions of this Release.  Each party warrants and
represents  that there are no liens or claims of lien or  assignments  in law or
equity or otherwise of or against any of the claims released herein.

                                 Page 12 of 13
<PAGE>

Dated: August 18, 2006

By:   /s/ David S. Gartner
   -------------------------------
                                          David S. Gartner

Dated: August 18, 2006

By:   /s/ Michael M. Earley
   -------------------------------
                                          Michael M. Earley
                                          Chief Executive Officer
                                          METROPOLITAN HEALTH NETWORKS, INC.

                                 Page 13 of 13

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