Document:

<PAGE>

                                                                   EXHIBIT 10.48

              AMENDMENT TO THE EXECUTIVE NONQUALIFIED EXCESS PLAN
                                       OF
                              AMN HEALTHCARE, INC.

AMN Healthcare, Inc., a Nevada corporation, hereby amends section 13 of the
Executive Nonqualified Excess Plan, dated as of January 1, 2002, as follows:

1.    Section 2.6 shall be deleted in its entirety and amended and restated to
      read as follows:

      "Compensation Committee" shall mean the Compensation Committee of AMN
      Healthcare Services, Inc., the parent corporation of the Employer.

2.    Section 4.4.2 is amended by deleting the first sentence thereof in its
      entirety and substituting the following therefor:

      If so designated by the Employer in the Adoption Agreement, and subject to
      the requirements for early retirement set forth therein, a Participant may
      elect early retirement effective on any date prior to his Normal
      Retirement Date and on or after the Early Retirement Date specified in the
      Adoption Agreement.

3.    Section 5.4 is amended by deleting the period at the end of the
      next-to-last sentence (beginning "As soon as practicable") and
      substituting instead a semi-colon, and by adding the following new
      sentence to immediately follow the said next-to-last sentence and to
      immediately precede the last sentence (beginning "The following special
      provisions") before subsection 5.4.1, to read in its entirety as follows:

      provided, however, that a Participant may elect, in writing on a form
      prescribed by the Plan Administrator for that purpose, not to take any
      distribution from the College Education Subaccount for a Dependent so long
      as the Participant files such written election with the Plan Administrator
      not later than the last day of the calendar year which immediately
      precedes the calendar year in which such Dependent shall attain age 18. If
      a Participant so elects, 90 percent of the balance in the College
      Education Subaccount for the specified Dependent shall be transferred back
      to the Deferred Compensation Account of the Participant, and the remaining
      10 percent of the College Education Subaccount for the specified Dependent
      shall be forfeited as of the date of the transfer. Notwithstanding the
      foregoing, 100 percent of the balance of a College Educational Subaccount
      for a specified Dependent shall be transferred back to the Participant's
      Deferred Compensation Account if the specified Dependent dies or becomes
      disabled (as defined below) before reaching the age of 23. For purposes of
      this Section, a Participant's Dependent shall be deemed to be "disabled"
      if the Plan Administrator, in its sole discretion, determines that an
      illness or injury has rendered the Dependent physically or mentally
      incapable of the full-time pursuit of the course of study for which the
      College Educational Subaccount was established for the Dependent. The Plan
      Administrator may request such evidence of the Dependent's

<PAGE>

      illness or injury as it deems necessary or appropriate to establish the
      existence of a disability, including but not limited to examination of the
      Dependent by a physician selected by the Plan Administrator.

4.    Section 8.2 is amended by adding at the end thereof a new sentence to read
      in its entirety as follows:

      The Committee may (but is not required to) consider the Participant's
      investment preferences when investing the assets attributable to a
      Participant's Accounts.

5.    Section 9.1 shall be amended by amending and restating in its entirety the
      first sentence of such section to read as follows:

      The Committee shall consist of at least three individuals who shall be
      appointed by the Compensation Committee

6.    Section 9.13 shall be amending by replacing the term "Board" with
      "Compensation Committee".

7.    Section 11.1 shall be amended as follows: "Board" shall be replaced with
      "Compensation Committee".

8.    Section 13 is amended by amending and restating in its entirety the third
      sentence of such section to read as follows:

      "If the Participant does not designate a beneficiary and has no Surviving
      Spouse, then the beneficiary shall be the person or entity specified
      below, in the following order of priority:

            First: The then living child or children of the Participant, to be
      divided among them in equal shares if more than one is then living.

            Second: The then living parent or parents of the Participants, to be
      divided among them in equal shares if more than one is then living.

            Third: The legal representative of the Participant's probate
      estate."

9.    Except as so amended, the Plan is ratified, confirmed and approved.

<PAGE>

AMN Healthcare, Inc.

By:  /s/ Steven C. Francis                   Dated as of:  January 1, 2002
   -----------------------------------
     Steven C. Francis
     Chief Executive Officer and President<PAGE>

                         RECONCILIATION OF ACCOUNTS FOR

           CIA DE SANEAMENTO DO PARANA-SANEPAR AND THE STATE OF PARANA

CREDITS OF THE STATE
--------------------

   ADVANCES FOR FUTURE CAPITALIZATION (AFAC), MADE BY
   THE STATE OF PARANA IN THE PERIOD FROM JUNE 1, 1996
   TO JUNE 8, 1998                                                39,971,690.41

DEBITS OF THE STATE
-------------------

   INVESTMENTS MADE BY SANEPAR IN BASIC PUBLIC SANITATION
   SYSTEMS FOR THE PUBLIC GOOD BEFORE COMPLEMENTARY LAW
   101/01 WENT INTO EFFECT, AS DEMONSTRATED BY THE
   ADMINISTRATIVE PROCEEDING.                                     39,971,690.41

THE PARTIES DECLARE THEIR AGREEMENT WITH THIS RECONCILIATION OF ACCOUNTS,
THEREBY AUTOMATICALLY SETTLING BETWEEN THE PARTIES ALL OBLIGATIONS CONTAINED IN
THIS STATEMENT.

                           CURITIBA, JANUARY 29, 2002

/s/ CARLOS AFONSO TEIXEIRA DE FREITAS      /s/ RICARDO DEL GUERRA PERPETUO

CIA DE SANEAMENTO DO PARANA-SANEPAR              STATE OF PARANA

                                                /s/Ingo Henrique Hubert
                                                ------------------------------
                                                Ingo Henrique Hubert
                                                Ministry of Finance
<PAGE>

[LOGO]  SANEPAR

                                     RECEIPT

                  We received from the State of Parana the sum of BRR
39,971,690.41 (thirty-nine million nine hundred seventy-one thousand six hundred
ninety and 41/100 reais) pertaining to the indemnity owed for the investments
made in basic public sanitation systems for the public good before Complementary
Law 101/01 went into effect, as demonstrated by the administrative proceeding
that resulted in this payment.

                  Therefore, we hereby sign this receipt.

                  Curitiba, January 29, 2002.

                  /s/ CARLOS AFONSO TEIXEIRA DE FREITAS
                  --------------------------------------
                  CARLOS AFONSO TEIXEIRA DE FREITAS
                  President and Chief Executive Officer

                  /s/ RICARDO DEL GUERRA PERPETUO
                  -------------------------------------
                  RICARDO DEL GUERRA PERPETUO
                  Chief Financial Officer

               OUR PLEDGE OF QUALITY: SANEPAR STRIVES FOR THE PERMANENT
               SATISFACTION OF ITS CLIENTS,SHAREHOLDERS AND ASSOCIATES
                                   [illegible]

<PAGE>

                                     [LOGO]

                              GOVERNMENT OF PARANA

                               MINISTRY OF FINANCE
                             OFFICE OF THE SECRETARY

                                     RECEIPT

         We received from COMPANHIA DE SANEAMIENTO DO PARANA-SANEPAR the sum of
BRR 39,971,690.41 (thirty-nine million nine hundred seventy-one thousand six
hundred ninety and 41/100 reais) for repayment of the advance for future
capitalization (AFAC), which represents the advances from the State of Parana
for the period from June 1, 1996 to June 8, 1998.

         Curitiba, January 29, 2002.

                              /s/ Ingo Henrique Hubert
                              --------------------------------
                              Ingo Henrique Hubert
                              Secretary, Ministry of Finance

                               MINISTRY OF FINANCE

          AV. VICENTE MACHADO CENTRO 445, CLP 80420 010 CURITIBA PARANA<PAGE>
                                                                   EXHIBIT 10.12

                             FIFTH AMENDMENT TO THE
                               BORDERS GROUP, INC.
                         MANAGEMENT STOCK PURCHASE PLAN

         The Borders Group Management Stock Purchase Plan (the "Plan") is hereby
amended in the following particulars, effective as of May 17, 2001:

         1.       Paragraph (m) of Article 2 of the Plan is hereby amended to
                  read as follows:

                  "Participant" shall mean a person who is eligible to receive a
                  grant of Restricted Shares under Article 4 of the Plan or who
                  is granted a right to purchase Restricted Shares under Article
                  16 of the Plan; all such grants and rights are sometimes
                  referred to herein as purchases.

         2.       Article 4 of the Plan is hereby amended to read as follows:

                  "4.      Eligibility

                           Such officers and key employees of the Company and
                  its Subsidiaries as are designated by the Committee from time
                  to time as participants shall be Participants in this Plan;
                  provided, however that, (i) director level employees who are
                  granted one-time purchase rights under Article 16 shall not be
                  required to acquire Restricted Shares with his or her Annual
                  Bonus, and (ii) the Committee may delegate to the Chairman of
                  the Board and/or President of the Company the coextensive
                  authority to designate as a Participant any officer or key
                  employee of the Company or its Subsidiaries who is not a
                  Section 16 Person and to make grants to such Participants,
                  including grants under Article 16 hereof. Each Participant
                  (other than director level employees) is required to use at
                  least 20 percent of his or her Annual Bonus (less applicable
                  payroll deductions, which shall not include Federal Income Tax
                  Withholding) to purchase Restricted Shares granted pursuant
                  to, and subject to the terms and conditions of, this Plan,
                  unless at least 20 percent of such Annual Bonus is being used
                  to acquire Restricted Shares pursuant to "Management Stock
                  Purchase Options" under the Stock Option Plan (as defined
                  therein). At the election of any Participant, he or she may
                  use up to 100 percent of the Annual Bonus (less applicable
                  payroll deductions, which shall not include Federal Income Tax
                  Withholding) to purchase Restricted Shares granted pursuant
                  to, and subject to the terms and conditions of, this Plan, to
                  the extent that such Annual Bonus is not being used to acquire
                  Restricted Shares pursuant to Management Stock Purchase Plan
                  Options under the Stock Option Plan. The amount of the Annual
                  Bonus used to purchase such Restricted Shares shall be
                  calculated in accordance with the Company's Annual Bonus Plan.
                  Since the Restricted Shares are "purchased" with part or all
                  of the Annual Bonus or pursuant to the one-time purchase
                  rights granted under Article 16, all Restricted Shares
                  acquired under this Plan are sometimes referred to as
                  "purchases." Any election described in this paragraph shall be
                  made in accordance with rules established by the Committee;
                  provided, however, that any such election by a Section 16
                  Person must be made at least six months prior to the day the
                  amount of the Section 16 Person's Annual Bonus is finally
                  determined under the Annual Bonus Plan."

         Except as herein amended, the Plan remains in full force and effect.

                                           BORDERS GROUP, INC.

                                           By:  /s/ BRUCE A. QUINNELL
                                                -------------------------
                                                Bruce A. Quinnell

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00038-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00038-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00038-of-00352.parquet"}]]