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                                                                  EXHIBIT 10.20

                              EMPLOYMENT AGREEMENT

         This Employment Agreement (this "Agreement") dated as of December 4,
2002, is between Michael Boxer (the "Executive") and Mariner Health Care, Inc.,
a Delaware corporation (the "Company").

WHEREAS, the Company desires to employ the Executive as Executive Vice
President ("EVP") and Chief Financial Officer, and wishes to define the terms
of the Executive's employment with the Company and the Executive desires to
accept such employment, for the term and upon the other conditions hereinafter
set forth.

         NOW, THEREFORE, the parties agree as follows:

         1.       Employment. This Agreement shall constitute a binding
agreement between the parties as of the date hereof (the "Effective Date").

         2.       Term. Subject to the provisions of Section 10 of this
Agreement, this Agreement shall commence on the Effective Date and shall
continue during the period in which the Executive remains employed by the
Company. This Agreement shall govern the terms of the Executive's employment
with the Company which shall commence on January 14, 2003 and shall continue
until terminated as set forth below (the "Term"). The Executive shall be
considered an at-will employee and his employment may be terminated by either
party subject to the obligations of the parties upon such termination as may be
set forth hereinafter.

         3.       Position. During the Term, the Executive shall serve as EVP
and Chief Financial Officer of the Company or in such other executive position
in the Company as the Executive shall approve.

         4.       Duties and Reporting Relationship. During the Term, the
Executive shall, on a full time basis, use the Executive's skills and render
services to the best of the Executive's abilities in supervising and conducting
the operations of the Company and shall not engage in any other business
activities except with the prior written approval of the Board of Directors of
the Company (the "Board") or its duly authorized designee. The Executive shall
also perform such other executive and administrative duties (not inconsistent
with the position of EVP and Chief Financial Officer) as the Executive may
reasonably be expected to be capable of performing on behalf of the Company, as
may from time to time be authorized or directed by the Board or the Chief
Executive Officer. The Executive agrees to be employed by the Company in all
such capacities for the Term, subject to all the covenants and conditions
hereinafter set forth.

         5.       Salary and Annual Bonus.

                  (a)      Base Salary. The Executive's base salary hereunder
         shall be $450,000 a year, payable no less frequently than monthly and
         prorated for any

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         partial year of employment. The Board shall review such base salary at
         least annually and may increase, but not decease, such base salary as
         it may deem advisable.

                  (b)      Annual Bonus. The Company shall provide the
         Executive with an opportunity to earn upon achievement of target
         performance goals determined by the Board or the compensation
         committee thereof, in consultation with the Executive, an annual bonus
         equal to eighty percent (80%) of the Executive's base salary (the
         "Target Bonus"), with a minimum bonus of fifty percent (50%) of base
         salary upon achievement of threshold performance and an opportunity to
         earn up to one hundred percent (100%) of base salary for performance
         in excess of the targets.

         6.       Vacation, Holidays and Sick Leave. During the Term, the
Executive shall be entitled to paid vacation, paid holidays and sick leave in
accordance with the Company's standard policies for its senior executive
officers.

         7.       Business Expenses. The Executive shall be reimbursed for all
ordinary and necessary business expenses incurred by the Executive in
connection with the Executive's employment upon timely submission by the
Executive of receipts and other documentation as required by the Internal
Revenue Code and in conformance with the Company's normal procedures.

         8.       Pension and Welfare Benefits. During the Term, the Executive
shall be eligible to participate fully in all health benefits, insurance
programs, pension and retirement plans and other employee benefit and
compensation arrangements, as in effect from time to time, available to senior
executive officers of the Company generally.

         9.       Stock Options On the date Executive commences his employment
with the Company (the "Grant Date"), the Company shall grant to the Executive,
pursuant to the terms of the Mariner Health Care, Inc. 2002 Stock Incentive
Plan (the "2002 Plan"), options to purchase 200,000 shares of common stock of
the Company ("Common Stock"), all of which shall have such terms and be subject
to such conditions as are set forth in the form of Stock Option Agreement
promulgated under the 2002 Plan. Such options shall vest over a period of four
years in equal annual installments and have an exercise price equal to the
closing sale price of the Common Stock, on the Grant Date. If no transactions
in the Common Stock occur on the Grant Date on the exchange or market where the
Common Stock is traded, the closing price of the Common Stock on the most
recent day in which a transaction in the Common Stock occurred shall be the
exercise price. Thereafter, the Board of Directors of the Company or the
Compensation Committee thereof, may grant to the Executive such other and
additional awards under the 2002 Plan as may from time to time be deemed
appropriate.

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         10.      Termination of Employment.

                  (a)      General. The Executive's employment hereunder may be
         terminated without any breach of this Agreement only under the
         following circumstances.

                  (b)      Death or Disability.

                           (i)      The Executive's employment hereunder shall
                  automatically terminate upon the death of the Executive.

                           (ii)     If, as a result of the Executive's
                  incapacity due to physical or mental illness, the Executive
                  is unable to perform the essential functions of his or her
                  job for one hundred eighty (180) days (whether or not
                  consecutive) during any period of eighteen (18) consecutive
                  months, and no reasonable accommodation can be made that will
                  allow Executive to perform his or her essential functions,
                  the Company may terminate the Executive's employment
                  hereunder for any such incapacity (a "Disability").

                  (c)      Termination by the Company. The Company may
         terminate the Executive's employment hereunder at any time, whether or
         not for Cause. For purposes of this Agreement, "Cause" shall mean (i)
         continued failure by the Executive to substantially perform the duties
         contemplated by Section 4 hereof, which failure is not remedied within
         twenty (20) days after a written notice of such failure is delivered
         to the Executive by the Company, which notice identifies with
         particularity the manner in which the Company believes that the
         Executive has failed to perform his duties under Section 4 of this
         Agreement; (ii) the conviction (after exhausting all appeals) of the
         Executive of, or the entering of a plea of nolo contendere by, the
         Executive with respect to a felony; (iii) Executive's willful
         malfeasance or willful misconduct in connection with Executive's
         duties hereunder or any willful act or willful omission which is
         materially injurious to the financial condition or business reputation
         of the Company or any significant subsidiary; or (iv) Executive's
         breach of the provisions of Section 14 of this Agreement.

                  Action or inaction by Executive shall not be considered
         "willful" unless done or omitted by Executive intentionally and
         without Executive's reasonable belief that Executive's action or
         inaction was in the best interests of the Company, and shall not
         include failure to act by reason of total or partial incapacity due to
         physical or mental illness. The cessation of employment of the
         Executive shall not be deemed to be for Cause unless prior to such
         termination there shall have been delivered to the Executive a copy of
         a resolution duly adopted by the affirmative vote of not less than a
         majority of the disinterested membership of the Board of Directors at
         a meeting of such Board of Directors called and held for such purpose
         (after reasonable notice is provided to the Executive and the
         Executive is given an

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         opportunity, together with counsel, to be heard before such Board of
         Directors), finding, that, in the good faith opinion of the Board of
         Directors, the Executive is guilty of the conduct described in clause
         (i), (ii) (iii) or (iv) above, and specifying the particulars thereof
         in detail.

                  (d)      Termination by the Executive. The Executive shall be
         entitled to terminate his or her employment hereunder (A) upon sixty
         (60) days' prior written notice, for Good Reason or (B) if his or her
         health should become impaired to an extent that makes his or her
         continued performance of his or her duties hereunder hazardous to his
         or her physical or mental health, provided that the Executive shall
         have furnished the Company with a written statement from a qualified
         doctor to such effect and provided, further, that, at the Company's
         request, the Executive shall submit to an examination by a doctor
         selected by the Company and such doctor shall have concurred in the
         conclusion of the Executive's doctor.

                  For purposes of this Agreement, "Good Reason" shall mean any
         one of the following acts by the Company, or failures by the Company
         to act, unless, in the case of any act or failure to act described
         below, such act or failure to act is corrected prior to the Date of
         Termination specified in the Notice of Termination given in respect
         thereof:

                           (i)      any material diminution in the Executive's
                  authorities or responsibilities (including reporting
                  responsibilities) or from his or her title or position
                  without the Executive's express written consent to accept any
                  such change; the assignment to him or her of any duties or
                  work responsibilities which are inconsistent with such
                  status, title, position or work responsibilities; or any
                  removal of the Executive from, or failure to reappoint or
                  reelect him or her to any of such positions, except if any
                  such changes are because of Disability, resignation, death or
                  termination by the Company with Cause;

                           (ii)     during the one year period commencing on
                  the date of a Change in Control, the relocation of the
                  Executive's office at which the Executive is to perform the
                  Executive's duties, to a location more than fifty (50) miles
                  from the location at which the Executive previously performed
                  the Executive's duties, except for required travel on the
                  Company's business to an extent substantially consistent with
                  the Executive's business travel;

                           (iii)    the failure by the Company to continue to
                  provide the Executive with benefits substantially similar in
                  value to the Executive in the aggregate to those enjoyed by
                  the Executive under any of the Company's pension, life
                  insurance, medical, health and accident, or disability plans
                  in which the Executive was participating, unless the
                  Executive participates after such failure in employee benefit
                  plans generally available to senior executives of the
                  Company;

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                           (iv)     without the Executive's express written
                  consent, any failure by the Company to comply with any
                  material provision of this Agreement, which failure has not
                  been cured within twenty (20) days after notice of such
                  noncompliance has been given by the Executive to the Company;
                  or

                           (vii)    any purported termination of the
                  Executive's employment which is not effected pursuant to a
                  Notice of Termination satisfying the requirements of Section
                  10(f) below; for purposes of this Agreement, no such
                  purported termination shall be effective.

         The Executive's continued employment for ninety (90) days following
         any act or failure to act constituting Good Reason hereunder without
         the delivery of a Notice of Termination shall constitute consent to,
         and a waiver of rights with respect to, such act or failure to act.

                  (e)      Voluntary Resignation. Should the Executive wish to
         resign from his or her position with the Company or terminate his or
         her employment for other than Good Reason during the Term, the
         Executive shall give sixty (60) days written notice to the Company
         ("Notice Period"), specifying the date as of which his or her
         resignation is to become effective. During the Notice Period, the
         Executive shall cooperate fully with the Company in achieving a smooth
         transition of the Executive's duties and responsibilities to such
         person(s) as may be designated by the Company. The Company reserves
         the right to accelerate the Date of Termination by giving the
         Executive prior written notice

                  (f)      Notice of Termination. Any purported termination of
         the Executive's employment by the Company or by the Executive shall be
         communicated by written Notice of Termination to the other party
         hereto in accordance with Section 18. "Notice of Termination" shall
         mean a notice that shall indicate the specific termination provision
         in this Agreement relied upon and shall set forth in reasonable detail
         the facts and circumstances claimed to provide a basis for termination
         of the Executive's employment under the provision so indicated.

                  (g)      Date of Termination. "Date of Termination" shall
         mean (i) if the Executive's employment is terminated because of death,
         the date of the Executive's death, (ii) if the Executive's employment
         is terminated for Disability or termination by the Company for Cause,
         the date Notice of Termination is given, (iii) if the Executive's
         employment is terminated pursuant to Subsection (d) or (e) hereof or
         for any other reason (other than death, Disability or by the Company
         for Cause), the date specified in the Notice of Termination which
         shall not be less than sixty (60) days from the date such Notice of
         Termination is given.

                  (h)      Change in Control. For purposes of this Agreement, a
         Change in Control of the Company shall have occurred if:

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                           (i)      any "Person" (as defined in Section 3(a)(9)
                  of the Securities Exchange Act of 1934 (the "Exchange Act")
                  as modified and used in Sections 13(d) and 14(d) of the
                  Exchange Act) other than (1) the Company or any of its
                  subsidiaries, (2) any trustee or other fiduciary holding
                  securities under an employee benefit plan of the Company or
                  any of its subsidiaries, (3) an underwriter temporarily
                  holding securities pursuant to an offering of such
                  securities, (4) any corporation owned, directly or
                  indirectly, by the stockholders of the Company in
                  substantially the same proportions as their ownership of the
                  Company's common stock or (5) any of Oaktree Capital
                  Management, LLC, Goldman Sachs Credit Partners, LP, Foothill
                  Partners, LP, Highland Capital Management, LP or their
                  respective affiliates (each a "Bank Permitted Holder" and (1)
                  through (5), collectively, the "Permitted Holders"), is or
                  becomes the "beneficial owner" (as defined in Rule 13d-3
                  under the Exchange Act), directly or indirectly, of
                  securities of the Company representing more than 25% of the
                  combined voting power of the Company's then outstanding
                  voting securities;

                           (ii)     during any period of not more than two (2)
                  consecutive years, not including any period prior to the
                  Effective Date, individuals who at the beginning of such
                  period constitute the Board and any new director (other than
                  a director designated by a person who has entered into an
                  agreement with the Company to effect a transaction described
                  in clause (i), (iii), or (iv) of this Section 10(h)) whose
                  election by the Board or nomination for election by the
                  Company's stockholders was approved by a vote of at least a
                  majority of the directors then still in office who either
                  were directors at the beginning of the period or whose
                  election or nomination for election was previously so
                  approved, cease for any reason to constitute at least a
                  majority thereof;

                           (iii)    the consummation of a merger or
                  consolidation of the Company with any other corporation,
                  other than (A) a merger or consolidation which would result
                  in the voting securities of the Company outstanding
                  immediately prior thereto continuing to represent (either by
                  remaining outstanding or by being converted into voting
                  securities of the surviving or parent entity) 50% or more of
                  the combined voting power of the voting securities of the
                  Company or such surviving or parent entity outstanding
                  immediately after such merger or consolidation or (B) a
                  merger or consolidation in which no persons (other than the
                  Permitted Holders) acquire 25% or more of the combined voting
                  power of the Company's or such surviving or parent entity's
                  then outstanding securities;

                           (iv)     the consummation of a plan of complete
                  liquidation of the Company or an agreement for the sale or
                  disposition by the Company of at

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                  least a majority of the assets of the Company and its
                  operating subsidiaries, taken as a whole (or any transaction
                  having a similar effect) or the Board approves the entering
                  into of an agreement with one or more unrelated third parties
                  under which such one or more unrelated third parties are
                  given the power to control the management or operations of at
                  least a majority of the assets of the Company and its
                  subsidiaries, taken as a whole; or

                           (v)      in the event of the occurrence of a
                  Potential Change in Control described in Section 11(f)(5) or
                  (6), the subsequent occurrence at any time thereafter of any
                  of the following events:

                                    (A)      the consummation of a merger or
                           consolidation of the Company or its affiliates with
                           any other Competitive Business (as defined in
                           Section 14 hereof) having gross revenues in excess
                           of 50% of the gross revenues of the Company and
                           following such merger or consolidation, a Bank
                           Permitted Holder whose acquisition of securities
                           triggered a Potential Change in Control pursuant to
                           Section 11(f)(5) or (6) hereof, owns at least 25% of
                           the outstanding voting securities of the entity
                           resulting from such combination; or

                                    (B)      the acquisition by the Company or
                           its affiliates of substantially all of the assets or
                           securities of any Competitive Business (as defined
                           in Section 14 hereof) having gross revenues in
                           excess of 50% of the gross revenues of Company and
                           (i) in the case of an acquisition of securities, the
                           securities acquired represent more than 50% of the
                           combined voting power of the Competitive Business's
                           then outstanding voting securities and (ii)
                           following such acquisition, a Bank Permitted Holder
                           whose acquisition of securities triggered a
                           Potential Change in Control pursuant to Section
                           11(f)(5) or (6) hereof, owns at least 25% of the
                           outstanding voting securities of the Company.

         11.      Compensation During Disability; Death or Upon Termination.
Notwithstanding any other provision of this Agreement, the provisions of this
Section 11 shall exclusively govern Executive's rights upon termination of
employment with the Company and its affiliates.

                  (a)      During any period that the Executive fails to
         perform his or her duties hereunder as a result of incapacity due to a
         Disability ("Disability Period"), the Executive shall continue to
         receive his or her base salary at the rate then in effect for such
         period until his or her employment is terminated pursuant to Section
         10(b)(ii) hereof, provided that payments so made to the Executive
         during the Disability Period shall be reduced by the sum of the
         amounts, if any, payable to the Executive with respect to such period
         under disability benefit plans of the

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         Company or under the Social Security disability insurance program, and
         which amounts were not previously applied to reduce any such payment.

                  (b)      If the Executive's employment is terminated by his
         or her death or Disability, the Company shall pay (i) any base salary
         due to the Executive under Section 5(a) through the date of such
         termination and (ii) an amount equal to the Target Bonus he or she
         would have received for the fiscal year that ends on or immediately
         after the Date of Termination, assuming the Company achieved the
         target level for which a bonus is paid under the plan described in
         Section 5(b), prorated for the period beginning on the first day of
         the fiscal year in which occurs the Date of Termination through the
         Date of Termination.

                  (c)      If the Executive's employment is terminated by the
         Company for Cause or by the Executive for other than Good Reason, the
         Company shall pay the Executive his or her base salary through the
         Date of Termination at the rate in effect at the time Notice of
         Termination is given, and the Company shall have no further
         obligations to the Executive under this Agreement.

                  (d)      If within one (1) year following a Change in Control
         the Company terminates the Executive's employment without Cause or the
         Executive terminates his or her employment for Good Reason, then

                           (i)      the Company shall pay the Executive his or
                  her base salary through the Date of Termination at the rate
                  in effect at the time Notice of Termination is given and all
                  other unpaid amounts, if any, to which the Executive is
                  entitled as of the Date of Termination under any compensation
                  plan or program of the Company, at the time such payments are
                  due;

                           (ii)     in lieu of any further salary payments to
                  the Executive for periods subsequent to the Date of
                  Termination, the Company shall pay as liquidated damages to
                  the Executive an aggregate amount equal to the product of (A)
                  the sum of (1) the Executive's base salary at the rate in
                  effect of the Date of Termination and (2) the greater of (I)
                  the average of the annual bonuses actually paid to the
                  Executive by the Company with respect to the two (2) fiscal
                  years which immediately precede the year in which the Date of
                  Termination occurs (provided if there was a bonus paid to the
                  Executive with respect only to one fiscal year that
                  immediately precedes the year in which the Date of
                  Termination occurs, then such single year's bonus shall be
                  utilized in the calculation pursuant to this subclause (I))
                  and (II) the bonus the Executive would earn based on the
                  target level of bonus applicable for the year of termination
                  and (B) the number two and one-half (2.5);

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                           (iii)    the Company shall pay the Executive an
                  amount equal to the prorated Target Bonus that would have
                  been paid for the period beginning on the first day of the
                  fiscal year in which the Date of Termination occurs;

                           (iv)     the Company shall continue coverage for the
                  Executive, on the same terms and conditions as would be
                  applicable if the Executive were an active Employee, under
                  the Company's life insurance, medical, health and similar
                  welfare benefit plans (other then group disability benefits)
                  for a period of thirty-six (36) months. Benefits otherwise
                  receivable by the Executive pursuant to this Section
                  11(d)(iv) shall be reduced to the extent comparable benefits
                  are actually received by the Executive from a subsequent
                  employer during the period during which the Company is
                  required to provide such benefits, and the Executive shall
                  report to the Company any such benefits actually received by
                  him or her;

                           (v)      all options, shares of restricted stock,
                  performance shares and any other equity based awards shall be
                  and become fully vested as of the Date of Termination; and

                           (vi)     the payments provided for in this Section
                  11(d) (other than Section 11(d)(iv)) shall be made not later
                  than the thirtieth (30th) day following the Date of
                  Termination.

                  (e)      Except as provided in Subsection (f) hereof, if
         either prior to a Change in Control or following the first anniversary
         of a Change in Control, the Company terminates the Executive's
         employment without Cause or the Executive terminates his employment
         with the Company for Good Reason, then

                           (i)      the Company shall pay the Executive his or
                  her base salary through the Date of Termination at the rate
                  in effect at the time Notice of Termination is given and all
                  other unpaid amounts, if any, to which the Executive is
                  entitled as of the Date of Termination under any compensation
                  plan or program of the Company, at the time such payments are
                  due;

                           (ii)     subject to the Executive's continued
                  compliance with Section 14 of this Agreement, in lieu of any
                  further salary payments to the Executive for period
                  subsequent to the Date of Termination, the Executive shall,
                  for a period of two (2) years from the Date of Termination
                  (the "Severance Period"), be entitled to continued payment of
                  the Executive's base salary at the rate in effect as of the
                  Date of Termination; provided, however, that in the event
                  that the Executive engages in a Competitive Business,
                  provides services for pay (including, without limitation,
                  deferred compensation, equity awards or other property) to a
                  Competitive Business or obtains a financial interest in a
                  Competitive Business from the date

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                  Executive's employment hereunder is terminated until the
                  second anniversary of the Date of Termination, the Executive
                  shall no longer be entitled to any further payments of
                  Executive's base salary;

                           (iii)    the Company shall pay the Executive at such
                  times as bonuses are generally payable to other executive
                  officers of the Company, a minimum Annual Bonus (determined
                  in accordance with Section 5(b) hereof) for the two fiscal
                  years of the Company ending after the Date of Termination;

                           (iv)     the Company shall pay the Executive his or
                  her Target Bonus prorated for the period beginning on the
                  first day of the fiscal year in which occurs the Date of
                  Termination through the Date of Termination;

                           (v)      the Company shall continue coverage for the
                  Executive, on the same terms and conditions as would be
                  applicable if the Executive were an active employee, under
                  the Company's life insurance, medical, health, and similar
                  welfare benefit plans (other then group disability) for a
                  period not to exceed the number of months the Executive will
                  be paid under Section 11(e)(ii) beginning on the Date of
                  Termination;

                           (vi)     benefits otherwise receivable by the
                  Executive pursuant to clause (v) of this Section 11(e) shall
                  be reduced to the extent comparable benefits are actually
                  received by the Executive from a subsequent employer during
                  the period which the Company is required to provide such
                  benefits, and the Executive shall report to the Company any
                  such benefits actually received by him or her; and

                           (vii)    all options, shares of restricted stock,
                  performance shares and any other equity based awards shall be
                  and become fully vested as of the Date of Termination.

                  (f)      If during the Term, the Company (i) terminates the
         Executive's employment other than for Cause, or the Executive
         terminates his or her employment for Good Reason and (ii) the Date of
         Termination occurs during the pendency of a Potential Change in
         Control, and if a Change in Control occurs before the expiration of
         the pendency of the Potential Change in Control during which the Date
         of Termination occurred, the Executive shall be entitled upon such
         Change in Control to:

                           (i)      the cash payments that would have been made
                  under Section 11(d) hereof as if the Date of Termination had
                  occurred immediately on the date of the Change in Control,
                  reduced by any other severance, salary continuation or
                  similar payments previously made to the Executive under
                  Section 11(e) hereof or otherwise, if any; and

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                           (ii)     benefit continuation provided for under
                  Section 11(d) in excess of the benefit continuation to which
                  he was otherwise entitled.

                  The payments provided for in this Section 11(f) shall be made
         not later than the thirtieth (30th) day following the date of the
         Change in Control.

                  As used in this Subsection (f), a "Potential Change in
         Control" shall be deemed to have occurred upon the following events:

                           (1)      the commencement of a tender or exchange
                  offer by any third person (other than a tender or exchange
                  offer which, if consummated, would not result in a Change in
                  Control) for twenty percent (20%) or more of the then
                  outstanding shares of common stock or combined voting power
                  of the Company's then outstanding voting securities;

                           (2)      the execution of an agreement by the
                  Company, the consummation of which would result in the
                  occurrence of a Change in Control;

                           (3)      the public announcement by any person
                  (including the Company) of an intention to take or to
                  consider taking actions which if consummated would constitute
                  a Change in Control other than through a contested election
                  for directors of the Company;

                           (4)      the adoption by the Board, as a result of
                  other circumstances, including circumstances similar or
                  related to the foregoing, of a resolution to the effect that,
                  for purposes of this Agreement, a Potential Change in Control
                  has occurred; or

                           (5)      the acquisition by a Bank Permitted Holder
                  of securities of the Company representing more than 30% of
                  the combined voting power of the Company's then outstanding
                  voting securities; or

                           (6)      the consummation of a merger or
                  consolidation of the Company with any other corporation which
                  is not a Change in Control, but in which a Bank Permitted
                  Holder acquires 30% or more of the combined voting power of
                  the Company's or such surviving entity's then outstanding
                  securities.

         A Potential Change in Control will be deemed to be pending from the
         occurrence of the event giving rise to the Potential Change in Control
         until the earlier of the first anniversary thereof or the date the
         Board determines in good faith that such events will not result in the
         occurrence of a Change in Control. Notwithstanding the foregoing, a
         Potential Change in Control described in Subsections (5) or (6) hereof
         will not end earlier than two (2) years from the occurrence of the
         event

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         giving rise to the Potential Change in Control. It is understood and
         expressly agreed that a Potential Change in Control described in
         Subsections (5) and (6) hereof will be applicable and given effect
         only if such Potential Change in Control is followed by an event
         described in Section 10(h)(v) hereof.

                  (g)      If the Executive shall terminate his or her
         employment under clause (B) of Section 10(d) or under Section 10(e)
         hereof, the Company shall pay the Executive his or her base salary
         through the Date of Termination at the rate in effect at the time
         Notice of Termination is given, and the Company shall have no further
         obligations to the Executive under this Agreement.

                  (h)      The Executive shall not be required to mitigate the
         amount of any payment provided for in this Section 11 by seeking other
         employment or otherwise, and, except as provided in Sections 11(e)
         hereof, the amount of any payment or benefit provided for in this
         Section 11 shall not be reduced by any compensation earned by the
         Executive as the result of employment by another employer or by
         retirement benefits.

                  (i)      Release. Prior to making any payment pursuant to
         Sections 11(e)(ii) and 11(e)(iii), the Company shall have the right to
         require the Executive to sign, and the Executive hereby agrees to
         sign, an agreement to be bound by the terms of Section 14 of this
         Agreement and a waiver of all claims the Executive may have (including
         any claims under the Age Discrimination in Employment Act), and the
         Company may withhold payment of such amount until the period during
         which the Executive may revoke such waiver (normally seven days) has
         elapsed.

         12.      Representations and Covenants.

                  (a)      The Company represents and warrants that this
         Agreement has been authorized by all necessary corporate action of the
         Company and is a valid and binding agreement of the Company
         enforceable against it in accordance with its terms.

                  (b)      The Executive represents and warrants that he or she
         is not a party to any agreement or instrument which would prevent him
         or her from entering into or performing his or her duties in any way
         under this Agreement. The Executive agrees and covenants that he or
         she will obtain, and submit to, such physical examinations as may be
         necessary to facilitate the Company obtaining an insurance policy for
         its benefit insuring the life of the Executive.

         13.      Successors: Binding Agreement.

                  (a)      This Agreement shall not be assignable by Executive.
         This Agreement may be assigned by the Company to a person or entity
         which is an affiliate or a successor in interest to substantially all
         of the business operations of

                                      12
<PAGE>
         the Company. The Company will require any successor (whether direct or
         indirect, by purchase, merger, consolidation or otherwise) to all or
         substantially all of the business and/or assets of the Company to
         expressly assume and agree to perform this Agreement in the same
         manner and to the same extent that the Company would be required to
         perform it if no such succession had taken place.

                  (b)      This Agreement is a personal contract and the rights
         and interests of the Executive hereunder may not be sold, transferred,
         assigned, pledged, encumbered, or hypothecated by him or her, except
         as otherwise expressly permitted by the provisions of this Agreement.
         This Agreement shall inure to the benefit of and be enforceable by the
         Executive and his or her personal or legal representatives, executors,
         administrators, successors, heirs, distributees, devisees and
         legatees. If the Executive should die while any amount would still be
         payable to him or her hereunder had the Executive continued to live,
         all such amounts, unless otherwise provided herein, shall be paid in
         accordance with the terms of this Agreement to his or her devisee,
         legatee or other designee or, if there is no such designee, to his or
         her estate.

         14.      Confidentiality and Non-Competition Covenants.

                  (a)      Executive will not (whether during or after
         Executive's employment with the Company) disclose, retain, or use for
         Executive's own benefit, purposes or account or the benefit, purposes
         or account of any other person, firm, partnership, joint venture,
         association, corporation or other business organization, entity or
         enterprise other than the Company and any of its subsidiaries or
         affiliates, any trade secrets, Company know-how, software
         developments, inventions, formulae, technology, designs and drawings
         or other works of authorship, or any Company property or confidential
         information relating to research, operations, finances, current and
         proposed products and services, vendors, customers, advertising,
         costs, marketing, trading, investment, sales activities, promotion,
         manufacturing processes, or the business and affairs of the Company
         generally, or of any subsidiary or affiliate of the Company
         ("Confidential Information") without the written authorization of the
         Board; provided that the foregoing obligation (i) shall not apply to
         information which is not unique to the Company or which is generally
         known to the industry or the public other than as a result of
         Executive's breach of this covenant or the wrongful acts of others who
         were under confidentiality obligations to the Company as to the item
         or items involved and (ii) shall survive the termination of
         Executive's employment for a period of three years with respect to
         Confidential Information that does not qualify as a trade secret and,
         with respect to trade secrets, for so long as the information
         qualifies as a trade secret. Executive agrees that upon termination of
         Executive's employment with the Company for any reason, he will return
         to the Company immediately all memoranda, books, papers, plans,
         information, letters and other data, and all copies thereof or
         therefrom, in any way relating to the business of the

                                      13
<PAGE>
         Company, its affiliates and subsidiaries, except that he may retain
         only those portions of personal notes, notebooks and diaries that do
         not contain Confidential Information of the type described in the
         preceding sentence. Executive further agrees that he will not retain
         or use for Executive's own benefit, purposes or account or the
         benefit, purposes or account of any other person, firm, partnership,
         joint venture, association, corporation or other business designation,
         entity or enterprise, other than the Company and any of its
         subsidiaries or affiliates, at any time any trade names, trademark,
         service mark, other proprietary business designation, patent, or other
         intellectual property used or owned in connection with the business of
         the Company or its affiliates.

                  (b)      The Executive covenants and agrees that any
         Confidential Information, including any confidential or proprietary
         materials, ideas, discoveries, inventions, techniques or programs
         developed or discovered by the Executive in connection with the
         performance of his duties hereunder shall remain the sole and
         exclusive property of the Company and Executive hereby assigns all of
         his right, title and interest in and to any such Confidential
         Information.

                  (c)      Executive acknowledges and recognizes the highly
         competitive nature of the businesses of the Company and its affiliates
         and accordingly agrees as follows:

                           (i)      During the Term and, for a period of two
                  (2) years following the date Executive ceases to be employed
                  by the Company for any reason (the "Restricted Period"),
                  Executive will not, whether on Executive's own behalf or on
                  behalf of or in conjunction with any person, company,
                  business entity or other organization whatsoever, directly or
                  indirectly solicit or assist in soliciting in competition
                  with the Company, the business of any client or prospective
                  client:

                                    (A)      with whom Executive had personal
                           contact or dealings on behalf of the Company during
                           the one (1) year period preceding Executive's
                           termination of employment; or

                                    (B)      with whom employees reporting
                           directly to Executive have had personal contact or
                           dealings on behalf of the Company during the one
                           year immediately preceding the Executive's
                           termination of employment;

                           (ii)     During the Term and, for a period of one
                  (1) year following the date the Executive ceases to be
                  employed by the Company due to the Executive's resignation
                  without Good Reason, Executive will not directly or
                  indirectly:

                                    (A)      engage in a capacity that involves
                           duties and responsibilities similar to those duties
                           and responsibilities

                                      14
<PAGE>
                           performed by Executive on behalf of the Company or
                           its subsidiaries, in any business that competes with
                           the business of the Company or its subsidiaries in
                           any geographical area that is within 15 miles of any
                           geographical area where the Company or its
                           subsidiaries provide their products or services (a
                           "Competitive Business");

                                    (B)      acquire a financial interest in
                           any Competitive Business, as an individual, partner,
                           shareholder, officer, director, principal, agent,
                           trustee or consultant; or

                                    (C)      interfere with, or attempt to
                           interfere with, business relationships (whether
                           formed before, on or after the date of this
                           Agreement) between the Company or any of its
                           affiliates and customers, clients, suppliers or
                           investors.

                           (iii)    Notwithstanding anything to the contrary in
                  this Agreement, Executive may, directly or indirectly own,
                  solely as an investment, securities of any person engaged in
                  the business of the Company or its affiliates which are
                  publicly traded on a national or regional stock exchange or
                  on the over-the-counter market if Executive (i) is not a
                  controlling person of, or a member of a group which controls,
                  such person and (ii) does not, directly or indirectly, own 5%
                  or more of any class of securities of such person.

                           (iv)     During the Restricted Period, Executive
                  will not, whether on Executive's own behalf or on behalf of
                  or in conjunction with any person, company, business entity
                  or other organization whatsoever, directly or indirectly:

                                    (A)      solicit or encourage any employee
                           (other than employees below the administrator level)
                           of the Company or its affiliates to leave the
                           employment of the Company or its affiliates; or

                                    (B)      hire any such employee who was
                           employed by the Company or its affiliates as of the
                           date of Executive's termination of employment with
                           the Company or who left the employment of the
                           Company or its affiliates coincident with, or within
                           one year prior to or after, the termination of
                           Executive's employment with the Company.

                  (d)      It is expressly understood and agreed that although
         Executive and the Company consider the restrictions contained in this
         Section 14 to be reasonable, if a final judicial determination is made
         by a court of competent jurisdiction that the time or territory or any
         other restriction contained in this Agreement is an unenforceable
         restriction against Executive, the provisions of

                                      15
<PAGE>
         this Agreement shall not be rendered void but shall be deemed amended
         to apply as to such maximum time and territory and to such maximum
         extent as such court may judicially determine or indicate to be
         enforceable. Alternatively, if any court of competent jurisdiction
         finds that any restriction contained in this Agreement is
         unenforceable, and such restriction cannot be amended so as to make it
         enforceable, such finding shall not affect the enforceability of any
         of the other restrictions contained herein.

                  (e)      Executive acknowledges and agrees that the Company's
         remedies at law for a breach or threatened breach of any of the
         provisions of Section 14 would be inadequate and the Company would
         suffer irreparable damages as a result of such breach or threatened
         breach. In recognition of this fact, Executive agrees that, in the
         event of such a breach or threatened breach, in addition to any
         remedies at law, the Company, without posting any bond, shall be
         entitled to cease making any payments or providing any benefit
         otherwise required by this Agreement and obtain equitable relief in
         the form of specific performance, temporary restraining order,
         temporary or permanent injunction or any other equitable remedy which
         may then be available.

         15.      Tax Consideration.

         Notwithstanding anything herein to the contrary, in the event any
payments to the Executive hereunder ("Total Payments") are determined by the
Company to be subject to the tax imposed by Section 4999 of the Internal
Revenue Code of 1986, as amended (the "Code") or any similar federal or state
excise tax, FICA tax, or any interest or penalties are incurred by the
Executive with respect to such excise tax (such excise tax, together with any
such interest or penalties are hereinafter collectively referred to as the
"Excise Tax"), the Company shall pay to the Executive at the time specified in
Section 11(d)(vi), an additional amount (the "Gross-Up Payment") such that
after the payment by the Executive of all federal, state, or local income
taxes, Excise Taxes, FICA taxes, or other taxes (including any interest or
penalties imposed with respect thereto) imposed upon the receipt of the
Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal
to the Excise Tax imposed on the Total Payments.

         If the Excise Tax is subsequently determined to be less than the
amount taken into account hereunder at the time of termination of employment,
the Executive shall repay to the Company, at the time the reduction in Excise
Tax is finally determined, the portion of the Gross-Up Payment attributable to
such reduction. If the Excise Tax is determined to exceed the amount taken into
account hereunder at the time of termination of employment, the Company shall
make an additional Gross-Up Payment to the Executive in respect of such excess
at the time the amount of such excess is finally determined. The Executive
shall notify the Company in writing of any claim by the Internal Revenue
Service that, if successful, would require the payment by the Company of the
Gross-Up Payment. Such notification shall be given as soon as practicable but
no later than ten (10) business days after the Executive is informed in writing
of such claim and shall apprise the Company of the nature of such claim and the
date on which such

                                      16
<PAGE>
claim is requested to be paid. The Executive shall not pay such claim prior to
the expiration of the thirty (30) day period following the date on which he or
she gives such notice to the Company (or such shorter period ending on the date
that any payment of taxes with respect to such claim is due). If the Company
notifies the Executive in writing prior to the expiration of such period that
it desires to contest such claim, the Executive shall:

                  (a)      give the Company any information reasonably
         requested by the Company relating to such claim;

                  (b)      take such action in connection with contesting such
         claim as the Company shall reasonably request in writing from time to
         time, including, without limitation, accepting legal representation
         with respect to such claim by an attorney reasonably selected by the
         Company;

                  (c)      cooperate with the Company in good faith in order to
         effectively contest such claim; and

                  (d)      permit the Company to participate in any proceedings
         relating to such claim;

provided, however, that the Company shall bear and pay directly all costs and
expenses (including legal and accounting fees and additional interest and
penalties) incurred in connection with such contest and shall indemnify and
hold the Executive harmless, on an after-tax basis, for any Excise Tax, FICA
tax, or income tax (including interest and penalties with respect thereto)
imposed as a result of such representation and payment of costs and expenses.
Without limitation on the foregoing provisions of this Section 15, the Company
shall control all proceedings taken in connection with such contest and, at its
sole option, may pursue or forgo any and all administrative appeals,
proceedings, hearings, and conferences with the taxing authority in respect of
such claim and may, at its sole option, either direct the Executive to pay the
tax claimed and sue for a refund or contest the claim in any permissible
manner, and the Executive agrees to prosecute such contest to a determination
before any administrative tribunal, in a court of initial jurisdiction, and in
one or more appellate courts, as the Company shall determine; provided,
however, that if the Company directs the Executive to pay such claim and sue
for a refund, the Company shall advance the amount of such payment to the
Executive, on an interest-free basis, and shall indemnify and hold the
Executive harmless, on an after-tax basis, from any Excise Tax or income tax
(including interest or penalties with respect thereto) imposed with respect to
such advance or with respect to any imputed income with respect to such
advance; and provided, further, that any extension of the statute of
limitations relating to payment of taxes for the taxable year of the Executive
with respect to which such contested amount is claimed to be due is limited
solely to such contested amount. Furthermore, the Company's control of the
contest shall be limited to issues with respect to which a Gross-Up Payment
would be payable hereunder and the

                                      17
<PAGE>
Executive shall be entitled to settle or contest, as the case may be, other
issues raised by the Internal Revenue Service or any other taxing authority.

         If any such claim referred to in this Section 15 is made by the
Internal Revenue Service and the Company does not request the Executive to
contest the claim within the thirty (30) day period following notice of the
claim, the Company shall pay to the Executive the amount on any Gross-Up
Payment owed to the Executive, but not previously paid pursuant to this Section
15, immediately upon the expiration of such thirty (30) day period. If any such
claim is made by the Internal Revenue Service and the Company requests the
Executive to contest such claim, but does not advance the amount of such claim
to the Executive for purposes of such contest, the Company shall pay to the
Executive the amount of any Gross-Up Payment owed to the Executive, but not
previously paid under the provisions of this Section 15, within five (5)
business days of a Final Determination of the liability of the Executive for
such Excise Tax. For purposes of this Agreement, a "Final Determination" shall
be deemed to occur with respect to a claim when (i) there is a decision,
judgment, decree, or other order by any court of competent jurisdiction, which
decision, judgment, decree, or other order has become final, i.e., all
allowable appeals pursuant to this Section 15 have been exhausted by either
party to the action, (ii) there is a closing agreement made under Section 7121
of the Code, or (iii) the time for instituting a claim for refund has expired,
or if a claim was filed, the time for instituting suit with respect thereto has
expired.

         If, after the receipt by the Executive of an amount advanced by the
Company pursuant to this Section 15, the Executive becomes entitled to receive
any refund with respect to such claim, the Executive shall (subject to the
Company's complying with the requirements of this Section 15) promptly pay to
the Company the amount of such refund (together with any interest paid or
credited thereon after taxes applicable thereto). If after the receipt by the
Executive of an amount advanced by the Company pursuant to this Section 15, a
determination is made by the Internal Revenue Service that the Executive is not
entitled to any refund with respect to such claim and the Company does not
notify the Executive in writing of its intent to contest such denial of refund
prior to the expiration of thirty (30) days after such determination, then such
advance shall be forgiven and shall not be required to be repaid and the amount
of such advance shall offset, to the extent thereof, the amount of Gross-Up
Payment required to be paid.

         16.      Entire Agreement. This Agreement contains all the
understandings between the parties hereto pertaining to the matters referred to
herein, and on the Effective Date shall supersede all undertakings and
agreements, whether oral or in writing, previously entered into by them with
respect thereto. The Executive represents that, in executing this Agreement, he
or she does not rely and has not relied upon any representation or statement
not set forth herein made by the Company with regard to the subject matter,
bases or effect of this Agreement or otherwise.

         17.      Amendment or Modification. Waiver. No provision of this
Agreement may be amended or waived unless such amendment or waiver is agreed to
in writing,

                                      18
<PAGE>
signed by the Executive and by a duly authorized officer of the Company. No
waiver by any party hereto of any breach by another party hereto of any
condition or provision of this Agreement to be performed by such other party
shall be deemed a waiver of a similar or dissimilar condition or provision at
the same time, any prior time or any subsequent time.

         18.      Notices. Any notice to be given hereunder shall be in writing
and shall be deemed given when delivered personally, sent by courier or
telecopy or registered or certified mail, postage prepaid, return receipt
requested, addressed to the party concerned at the address indicated below or
to such other address as such party may subsequently give notice of hereunder
in writing:

                  To Executive at:
                                             ----------------------------------

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

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

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

                  To the Company at:         Mariner Health Care, Inc.
                                             One Ravinia Drive, Suite 1500
                                             Atlanta, Georgia 30346
                                             Attn: General Counsel

         Any notice delivered personally or by courier under this Section 18
shall be deemed given on the date delivered and any notice sent by telecopy or
registered or certified mail, postage prepaid, return receipt requested, shall
be deemed given on the date telecopied or mailed.

         19.      Severability. If any provision of this Agreement or the
application of any such provision to any party or circumstances shall be
determined by any court of competent jurisdiction to be invalid and
unenforceable to any extent, the remainder of this Agreement or the application
of such provision to such person or circumstances other than those to which it
is so determined to be invalid and unenforceable, shall not be affected
thereby, and each provision hereof shall be validated and shall be enforced to
the fullest extent permitted by law.

         20.      Survivorship. The respective rights and obligations of the
parties hereunder shall survive any termination of this Agreement to the extent
necessary to the intended preservation of such rights and obligations.

         21.      Governing Law: Attorney's Fees.

                  (a)      This Agreement will be governed by and construed in
         accordance with the laws of the State of Delaware, without regard to
         its conflicts of laws principles.

                                      19
<PAGE>
                  (b)      The prevailing party in any dispute arising out of
         this Agreement shall be entitled to be paid its reasonable attorney's
         fees incurred in connection with such dispute from the other party to
         such dispute.

         22.      Dispute Resolution. The Executive and the Company shall not
initiate legal proceedings relating in any way to this Agreement or to the
Executive's employment or termination from employment with the Company until
thirty (30) days after the party against whom the claim is made ("respondent")
receives written notice from the claiming party of the specific nature of any
purported claims and the amount of any purported damages attributable to each
such claim. The Executive and the Company further agree that if respondent
submits the claiming party's claim to the CPR Institute for Dispute Resolution,
JAMS/Endispute, or other local dispute resolution service for nonbinding
mediation prior to the expiration of such thirty (30) day period, the claiming
party may not institute arbitration or other legal proceedings against
respondent until the earlier of: (a) the completion of good-faith mediation
efforts or (b) 90 days after the date on which the respondent received written
notice of the claimant's claim(s); provided, however, that nothing in this
Section 22 shall prohibit the Company from pursuing injunctive or other
equitable relief against the Executive prior to, contemporaneous with, or
subsequent to invoking or participating in these dispute resolution processes.
The Company shall pay the cost of the mediator.

         23.      Headings. All descriptive headings of sections and paragraphs
in this Agreement are intended solely for convenience, and no provision of this
Agreement is to be construed by reference to the heading of any section or
paragraph.

         24.      Withholdings. All payments to the Executive under this
Agreement shall be reduced by all applicable withholding required by federal,
state or local tax laws.

         25.      Counterparts. This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

                                      20
<PAGE>
         IN WITNESS WHEREOF, the parties hereto have executed this Employment
Agreement as of the date first above written.

                                    MARINER HEALTH CARE, INC.

                                    BY: /s/ C. Christian Winkle
                                       ----------------------------------------
                                    NAME: C. Christian Winkle
                                    TITLE: President and Chief Executive
                                           Officer

                                    EXECUTIVE

                                    /s/ Michael Boxer
                                    -------------------------------------------
                                    Michael Boxer

                                      21<PAGE>

                                                                     Exhibit 4.1

                                 CERTIFICATE OF
                    VICE CHAIRMAN AND CHIEF FINANCIAL OFFICER
                          AND VICE PRESIDENT, TREASURER
                             AND ASSISTANT SECRETARY
                      PURSUANT TO SECTIONS 201, 301 AND 303
                                OF THE INDENTURE

                                                         Dated: January 24, 2003

         The undersigned, ALAN H. LUND and PAMELA S. HENDRY, do hereby certify
that they are the duly appointed and acting Vice Chairman and Chief Financial
Officer and Vice President, Treasurer and Assistant Secretary, respectively, of
INTERNATIONAL LEASE FINANCE CORPORATION, a California corporation (the
"Company"). Each of the undersigned also hereby certifies, pursuant to Sections
201, 301 and 303 of the Indenture, dated as of November 1, 2000 (the
"Indenture"), between the Company and The Bank of New York, as Trustee, as
amended, that:

         A. There has been established pursuant to resolutions duly adopted by
the Board of Directors of the Company (a copy of such resolutions being attached
hereto as Exhibit B) and by a Special Committee of the Board of Directors (a
copy of such resolutions being attached hereto as Exhibit C) a series of
Securities (as that term is defined in the Indenture) to be issued under the
Indenture, with the following terms:

         1.       The title of the Securities of the series is "Medium-Term
         Notes, Series O" (the "Medium-Term Notes").

         2.       The limit upon the aggregate principal amount of the
         Medium-Term Notes which may be authenticated and delivered under the
         Indenture (except for Medium-Term Notes authenticated and delivered
         upon registration of, transfer of, or in exchange for, or in lieu of
         other Medium-Term Notes pursuant to Sections 304, 305, 306, 906 or 1107
         of the Indenture) is $1,500,000,000. The Company may, without the
         consent of the Holders of the Medium-Term Notes, issue additional notes
         having the same ranking, interest rate, Stated Maturity, CUSIP number
         and terms as to status, redemption or otherwise as Medium-Term Notes
         that have been previously issued, in which event such notes and such
         previously issued Medium-Term Notes shall constitute one issue for all
         purposes under the Indenture including without limitation, amendments
         and waivers.

         3.       The date on which the principal of each of the Medium-Term
         Notes is payable shall be any Business Day (as defined in the forms of
         Global Fixed Rate Note and Global Floating Rate Note attached hereto as
         Exhibit A and incorporated herein by reference) nine months or more
         from the date of issuance as determined from time to time by any one of
         Leslie L. Gonda, Steven F. Udvar-Hazy, Alan H. Lund, Pamela S. Hendry
         or Kurt Schwarz (each a "Designated Person").
<PAGE>
         4.       The rate at which each of the Medium-Term Notes shall bear
         interest shall be established by any one Designated Person, and may be
         either a fixed interest rate (which may be zero) (hereinafter, a "Fixed
         Rate Note") or may vary from time to time in accordance with one of the
         interest rate formulas more fully described in Exhibit A hereto
         (hereinafter, a "Floating Rate Note") or otherwise as specified by a
         Designated Person.

         5.       Unless otherwise specified by a Designated Person, the date
         from which interest shall accrue for each Medium-Term Note shall be the
         respective date of issuance of each of the Medium-Term Notes.

         6.       The interest payment dates on which interest on the
         Medium-Term Notes shall be payable are, in the case of Fixed Rate
         Notes, April 15 and October 15, unless otherwise specified by any
         Designated Person, and, in the case of Floating Rate Notes, such dates
         as specified by any Designated Person. The initial interest payment on
         each outstanding Medium-Term Note shall be made on the first interest
         payment date falling at least 15 days after the date the Medium-Term
         Note is issued, unless otherwise specified by any Designated Person.

         7.       The regular record dates for the interest payable on any Fixed
         Rate Note on any interest payment date shall be April 1 and October 1,
         unless otherwise specified by any Designated Person, and the regular
         record dates for the interest payable on any Floating Rate Note on any
         interest payment date shall be on the day 15 calendar days prior to any
         such interest payment date, unless otherwise specified by any
         Designated Person.

         8.       Interest on the Fixed Rate Notes shall be computed on the
         basis of a 360-day year of twelve (12) 30-day months. Interest on the
         Floating Rate Notes shall be computed on the basis set forth in Exhibit
         A hereto.

         9.       The place or places where the principal (and premium, if any)
         and interest on Medium-Term Notes shall be payable is at the office of
         the Trustee, 101 Barclay Street, Ground Floor Window, New York, New
         York 10286, provided that payment of interest, other than at Stated
         Maturity (as defined in the Indenture) or upon redemption or
         repurchase, may be made at the option of the Company by check mailed to
         the address of the person entitled thereto as such address shall appear
         in the Security Register (as defined in the Indenture) and provided
         further that (i) the Depositary (as designated below), as holder of
         Global Securities (as defined in the Indenture), shall be entitled to
         receive payments of interest by wire transfer of immediately available
         funds, and (ii) a Holder of $10,000,000 or more in aggregate principal
         amount of certificated Medium-Term Notes, having identical Interest
         Payment Dates, shall be entitled to receive payments of interest, other
         than interest due at Stated Maturity or upon redemption, by wire
         transfer in immediately available funds to a designated account
         maintained in the United States upon receipt by the Trustee of written
         instructions from such Holder not later than the Regular Record Date
         for the

                                       2
<PAGE>
         related Interest Payment Date. Such instructions shall remain in effect
         with respect to payments of interest made to such Holder on subsequent
         Interest Payment Dates unless revoked or changed by written
         instructions received by the Trustee from such Holder; provided that
         any such written revocation or change which is received by the Trustee
         after a Regular Record Date and before the related Interest Payment
         Date shall not be effective with respect to the interest payable on
         such Interest Payment Date.

         10.      The date, if any, on which each Medium-Term Note may be
         redeemed at the option of the Company shall be established by any
         Designated Person.

         11.      The terms under which any of the Medium-Term Notes shall be
         repaid at the option of the Holder shall be as set forth in the forms
         of the Global Fixed Rate Note and Global Floating Rate Note attached
         hereto and the obligation of the Company, if any, to repay any of the
         Medium-Term Notes at the option of a Holder shall be established by any
         Designated Person.

         12.      The Medium-Term Notes shall be issued in fully registered form
         in denominations of $1,000 or any amount in excess thereof which is an
         integral multiple of $1,000.

         13.      The principal amount of the Medium-Term Notes shall be payable
         upon declaration of acceleration of the maturity thereof pursuant to
         Section 502 of the Indenture.

         14.      The Medium-Term Notes shall be issued as Global Securities
         under the Indenture, unless otherwise specified by any Designated
         Person, and The Depository Trust Company is designated the Depositary
         under the Indenture for the Medium-Term Notes.

         15.      The terms of the Medium-Term Notes include the provisions set
         forth in Exhibit A hereto.

         16.      If specified by a Designated Person, Medium-Term Notes may be
         issued as Amortizing Notes, Original Issue Discount Notes or Indexed
         Notes, each as described in the Prospectus Supplement dated January 24,
         2003 to the Prospectus dated December 31, 2002 relating to the
         Medium-Term Notes, including any subsequent amendments or supplements
         thereto.

         B. The forms of the Global Fixed Rate Notes and the Global Floating
Rate Notes are attached hereto as Exhibit A.

         C. The Trustee is appointed as Paying Agent (as defined in the
Indenture) and The Bank of New York is appointed as Calculation Agent.

         D. The foregoing form and terms of the Medium-Term Notes have been
established in conformity with the provisions of the Indenture.

                                       3
<PAGE>
         E. Each of the undersigned has read the provisions of Sections 301 and
303 of the Indenture and the definitions relating thereto and the resolutions
adopted by the Board of Directors of the Company and delivered herewith. In the
opinion of each of the undersigned, he or she has made such examination or
investigation as is necessary to enable him or her to express an informed
opinion as to whether or not all conditions precedent provided in the Indenture
relating to the establishment, authentication and delivery of a series of
Securities under the Indenture, designated as the Medium-Term Notes in this
Certificate, have been complied with. In the opinion of each of the undersigned,
all such conditions precedent have been complied with.

         F. The undersigned Assistant Secretary, by execution of this
Certificate, thereby certifies the actions taken by the Special Committee of the
Board of Directors of the Company in determining and setting the specific terms
of the Medium-Term Notes, and hereby further certifies that attached hereto as
Exhibits A, B, and C respectively, are the forms of certificates representing
the Global Fixed Rate Notes and Global Floating Rate Notes as duly approved by
the Special Committee of the Board of Directors of the Company, a copy of
resolutions duly adopted by the Board of Directors of the Company as of
September 24, 2002 and November 22, 2002 and a copy of resolutions duly adopted
by the Special Committee of the Board of Directors as of December 31, 2002 and
January 24, 2003, pursuant to which the terms of the Medium-Term Notes set forth
above have been established.

         G. This certificate supersedes in its entirety the Officers'
Certificate, dated December 31, 2002, with respect to the Notes previously
delivered to you.

                  [remainder of page intentionally left blank]

                                       4
<PAGE>
         IN WITNESS WHEREOF, the undersigned have hereunto executed this
Certificate as of the date first above written.

                                              /s/ Alan H. Lund
                                              ---------------------------------
                                              Alan H. Lund
                                              Vice Chairman and
                                              Chief Financial Officer

                                              /s/ Pamela S. Hendry
                                              ---------------------------------
                                              Pamela S. Hendry
                                              Vice President, Treasurer and
                                              Assistant Secretary

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