Document:

<PAGE>

                                                                     Exhibit 4.5

REGISTERED                                                      PRINCIPAL AMOUNT
No.:                                                           $

CUSIP No.: _________

                     Friedman, Billings, Ramsey Group, Inc.
                     [Designation of Subordinated Security]

         Friedman, Billings, Ramsey Group, Inc., a Virginia corporation
(hereinafter called the "Corporation," which term shall include any successor
corporation under the Indenture hereinafter referred to), for value received,
hereby promises to pay to , or registered assigns, upon presentation, the
principal sum of DOLLARS on _____________, and to pay interest on the
outstanding principal amount thereon from _____________, or from the most recent
Interest Payment Date to which interest has been paid or duly provided for,
semi-annually in arrears on _______ and _________ in each year, commencing
_______________, at the rate of __% per annum, until the entire principal amount
hereof is paid or made available for payment. The interest so payable, and
punctually paid or duly provided for on any Interest Payment Date will, as
provided in the Indenture, be paid to the Person in whose name this Subordinated
Security (or one or more Predecessor Subordinated Securities) is registered at
the close of business on the Regular Record Date for such interest which shall
be the ________ or ________ (whether or not a Business Day), as the case may be,
next preceding such Interest Payment Date. Any such interest not so punctually
paid or duly provided for shall forthwith cease to be payable to the Holder on
such Regular Record Date, and may either be paid to the Person in whose name
this Subordinated Security (or one or more Predecessor Subordinated Securities)
is registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holders of Subordinated Securities of this series not more than 15 days
and not less than 10 days prior to such Special Record Date, or may be paid at
any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Subordinated Securities may be listed, and
upon such notice as may be required by such exchange, all as more fully provided
<PAGE>

in the Indenture. Payment of the principal of, Make-Whole Amount, if any, on,
and interest on this Subordinated Security will be made at the office or agency
of the Corporation maintained for that purpose in the City of Arlington, State
of Virginia, or elsewhere as provided in the Indenture, in such coin or currency
of the United States of America as at the time of payment is legal tender for
payment of public and private debts; provided, however, that at the option of
the Corporation payment of interest may be made by (i) check mailed to the
address of the Person entitled thereto as such address shall appear in the
Security Register kept for the Subordinated Securities pursuant to Section 305
of the Indenture (the "Security Register") or (ii) transfer to an account of the
Person entitled thereto located inside the United States.

         This Subordinated Security is one of a duly authorized issue of
securities of the Corporation (herein called the "Subordinated Securities"),
issued and to be issued in one or more series under an Indenture, dated as of
_________, 200_ (herein called the "Indenture"), between the Corporation and
____________ (herein called the "Trustee," which term includes any successor
trustee under the Indenture with respect to the Subordinated Securities), to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Corporation, the Trustee and the Holders of the
Subordinated Securities and of the terms upon which the Subordinated Securities
are, and are to be, authenticated and delivered. This Subordinated Security is
one of the series designated as the "[designation of Subordinated Securities],"
limited in aggregate principal amount to $__________.

         The Subordinated Securities may be redeemed at any time at the option
of the Corporation, in whole or in part, upon notice of not more than 60 nor
less than 30 days prior to the Redemption Date, at a redemption price equal to
the sum of (i) the principal amount of the Subordinated Securities being
redeemed plus accrued interest thereon to the Redemption Date and (ii) the
Make-Whole Amount, if any, with respect to such Subordinated Securities.

         The following definitions apply with respect to any redemption of the
Subordinated Securities of this series at the option of the Corporation:

         "Make-Whole Amount" means, in connection with any optional redemption
or
<PAGE>

accelerated payment of any Subordinated Security, the excess, if any, of (i)
the aggregate present value as of the date of such redemption or accelerated
payment of each dollar of principal being redeemed or paid and the amount of
interest (exclusive of any interest accrued to the date of redemption or
accelerated payment) that would have been payable in respect of such dollar if
such redemption or accelerated payment had not been made, determined by
discounting, on a semiannual basis, such principal and interest at the
Reinvestment Rate (determined on the third Business Day preceding the date such
notice of redemption is given or declaration of acceleration is made) from the
respective dates on which such principal and interest would have been payable if
such redemption or accelerated payment had not been made, over (ii) the
aggregate principal amount of the Subordinated Securities being redeemed or
paid.

         "Reinvestment Rate" means .25% (one-fourth of one percent) plus the
arithmetic mean of the yields under the respective headings "This Week" and
"Last Week" published in the Statistical Release under the caption "Treasury
Constant Maturities" for the maturity (rounded to the nearest month)
corresponding to the remaining life to maturity, as of the payment date of the
principal being redeemed or paid. If no maturity exactly corresponds to such
maturity, yields for the two published maturities most closely corresponding to
such maturity shall be calculated pursuant to the immediately preceding sentence
and the Reinvestment Rate shall be interpolated or extrapolated from such yields
on a straight-line basis, rounding in each of such relevant periods to the
nearest month. For the purposes of calculating the Reinvestment Rate, the most
recent Statistical Release published prior to the date of determination of the
Make- Whole Amount shall be used.

         "Statistical Release" means the statistical release designated "H.15
(519)" or any successor publication which is published weekly by the Federal
Reserve System and which establishes yields on actively traded United States
government
securities adjusted to constant maturities or, if such statistical release is
not published at the time of any determination under the Indenture, then such
other reasonably comparable index which shall be designated by the Corporation.

         The Indenture contains provisions for defeasance at any time of (a) the
entire indebtedness of the Corporation on this Subordinated Security and (b)
certain restrictive covenants and the related defaults and Events of Default
applicable
<PAGE>

to the Corporation, in each case, upon compliance by the Corporation
with certain conditions set forth in the Indenture, which provisions apply to
this Subordinated Security.

         If an Event of Default with respect to the Subordinated Securities
shall occur and be continuing, the principal of, and the Make-Whole Amount, if
any, on, the Subordinated Securities may be declared due and payable in the
manner and with the effect provided in the Indenture.

         As provided in and subject to the provisions of the Indenture, the
Holder of this Subordinated Security shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or
trustee or for any other remedy thereunder, unless such Holder shall have
previously given the Trustee written notice of a continuing Event of Default
with respect to the Subordinated Securities, the Holders of not less than 25% in
principal amount of the Subordinated Securities at the time Outstanding shall
have made written request to the Trustee to institute proceedings in respect of
such Event of Default as Trustee and offered the Trustee reasonable indemnity
and the Trustee shall not have received from the Holders of a majority in
principal amount of the Subordinated Securities at the time Outstanding a
direction inconsistent with such request, and shall have failed to institute any
such proceeding, for 60 days after receipt of such notice, request and offer of
indemnity. The foregoing shall not apply to any suit instituted by the Holder of
this Subordinated Security for the enforcement of any payment of principal
hereof or any interest on or after the respective due dates expressed herein.

         The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Corporation and the rights of the Holders of the Subordinated Securities under
the Indenture at any time by the Corporation and the Trustee with the consent of
the Holders of not less than a majority in principal amount of the Outstanding
Subordinated Securities. The Indenture also contains provisions permitting the
Holders of specified percentages in principal amount of the Subordinated
Securities at the time Outstanding, on behalf of the Holders of all Subordinated
Securities, to waive compliance by the Corporation with certain provisions of
the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Subordinated
Security shall be
<PAGE>

conclusive and binding upon such Holder and upon all future Holders of this
Subordinated Security and of any Subordinated Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Subordinated
Security.

         No reference herein to the Indenture and no provision of this
Subordinated Security or of the Indenture shall alter or impair the obligation
of the Corporation, which is absolute and unconditional, to pay the principal
of, Make-Whole Amount, if any, on, and interest on this Subordinated Security at
the times, place and rate, and in the coin or currency, herein prescribed.

         As provided in the Indenture and subject to certain limitations therein
set forth, the transfer of this Subordinated Security is registrable in the
Security Register, upon surrender of this Subordinated Security for registration
of transfer at the office or agency of the Corporation in any Place of Payment
where the principal of, Make-Whole Amount, if any, on, and interest on this
Subordinated Security are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Corporation and the Security
Registrar for the Subordinated Securities (the "Security Registrar") duly
executed by, the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Subordinated Securities of this series, of authorized
denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees.

         The Subordinated Securities of this series are issuable only in
registered form without coupons in denominations of $1,000 and any integral
multiple thereof. As provided in the Indenture and subject to certain
limitations therein set forth, Subordinated Securities of this series are
exchangeable for a like aggregate principal amount of Subordinated Securities of
this series of a different authorized denomination, as requested by the Holder
surrendering the same.

         No service charge shall be made for any such registration of transfer
or exchange, but the Corporation may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith.
<PAGE>

         Prior to due presentment of this Subordinated Security for registration
of transfer, the Corporation, the Trustee and any agent of the Corporation or
the Trustee may treat the Person in whose name this Subordinated Security is
registered as the owner hereof for all purposes, whether or not this
Subordinated Security be overdue, and neither the Corporation, the Trustee nor
any such agent shall be affected by notice to the contrary.

         The Holder of this Subordinated Security by the acceptance thereof
agrees that the indebtedness evidenced by this Subordinated Security is
subordinated in right of payment, to the extent and in the manner provided in
Article Sixteen of the Indenture, to the prior payment in full of all Senior
Debt and that the subordination is for the benefit of the holders of Senior
Debt. The Holder hereof authorizes and directs the Trustee on his behalf to take
such action as may be necessary or appropriate to effect such subordination as
provided in the Indenture and appoints the Trustee his attorney-in-fact for such
purpose. "Senior Debt" is defined in the Indenture as the principal of and
interest on, or substantially similar payments to be made by the Corporation in
respect of, the following, whether outstanding at the date of execution of this
Indenture or thereafter incurred, created or assumed: (a) indebtedness of the
Corporation for money borrowed or represented by purchase-money obligations, (b)
indebtedness of the Corporation evidenced by notes, debentures, or bonds, or
other securities issued under the provisions of an indenture, fiscal agency
agreement or other instrument, (c) obligations of the Corporation as lessee
under leases of property either made as part of any sale and lease-back
transaction to which the Corporation is a party or otherwise, (d) indebtedness
of partnerships and joint ventures which is included in the Corporation's
consolidated financial statements, (e) indebtedness, obligations and liabilities
of others in respect of which the Corporation is liable contingently or
otherwise to pay or advance money or property or as guarantor, endorser or
otherwise or which the Corporation has agreed to purchase or otherwise acquire,
and (f) any binding commitment of the Corporation to fund any real estate
investment or to fund any investment in any entity making such real estate
investment; but excluding, however, (1) any such indebtedness, obligation or
liability referred to in clauses (a) through (f) above as to which, in the
instrument creating or evidencing the same or pursuant to which the same is
outstanding, it is provided that such indebtedness, obligation or liability is
not superior in right of payment to the Subordinated Securities, or ranks pari
passu with the Subordinated Securities, (2) any such indebtedness, obligation or
liability
<PAGE>

which is subordinated to indebtedness of the Corporation to substantially the
same extent as or to a greater extent than the Subordinated Securities are
subordinated and (3) the Subordinated Securities. As used in the preceding
sentence the term "purchase-money obligations" shall mean indebtedness or
obligations evidenced by a note, debenture, bond or other instrument (whether or
not secured by any lien or other security interest but excluding indebtedness or
obligations for which recourse is limited to the property purchased) issued or
assumed as all or a part of the consideration for the acquisition of property,
whether by purchase, merger, consolidation or otherwise, but shall not include
any trade accounts payable. A distribution may consist of cash, securities or
other property.

         No recourse under or upon any obligation, covenant or agreement
contained in the Indenture or in this Subordinated Security, or because of any
indebtedness evidenced thereby, shall be had against any promoter, as such or,
against any past, present or future shareholder, officer or director, as such,
of the Corporation or of any successor, either directly or through the
Corporation or any successor, under any rule of law, statute or constitutional
provision or by the enforcement of any assessment or by any legal or equitable
proceeding or otherwise, all such liability being expressly waived and released
by the acceptance of this Subordinated Security by the Holder thereof and as
part of the consideration for the issue of the Subordinated Securities.

         All terms used in this Subordinated Security which are defined in the
Indenture shall have the meanings assigned to them in the Indenture.

         THE INDENTURE AND THE SUBORDINATED SECURITIES, INCLUDING THIS
SUBORDINATED SECURITY, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAW OF THE COMMONWEALTH OF VIRGINIA.

         Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Corporation has caused "CUSIP" numbers
to be printed on the Subordinated Securities as a convenience to the Holders of
the Subordinated Securities. No representation is made as to the correctness or
accuracy of such CUSIP numbers as printed on the Subordinated Securities, and
<PAGE>

reliance may be placed only on the other identification numbers printed hereon.

         Unless the certificate of authentication hereon has been executed by or
on behalf of the Trustee by manual signature, this Subordinated Security shall
not be entitled to any benefit under the Indenture or be valid or obligatory for
any purpose.

         IN WITNESS WHEREOF, the Corporation has caused this instrument to be
duly executed under its corporate seal this day of , .

                        Friedman, Billings, Ramsey Group, Inc.

                        By:_________________________________
                           Name:____________________________
                           Title:___________________________

Attest:

By:__________________________
   Name:_____________________
   Title:____________________

[SEAL]

TRUSTEE'S CERTIFICATE OF AUTHENTICATION:

         This is one of the Subordinated Securities of the series designated
"[designation of Subordinated Securities]" pursuant to the within-mentioned
Indenture.
<PAGE>

______________, as Trustee

By:________________________
   Authorized Signatory

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

                                 ASSIGNMENT FORM

                   FOR VALUE RECEIVED, the undersigned hereby
                        sells, assigns and transfers unto

PLEASE INSERT SOCIAL
SECURITY OR OTHER IDENTIFYING
NUMBER OF ASSIGNEE

_____________________________________________________________

_____________________________________________________________
             (Please Print or Typewrite Name and Address including
                             Zip Code of Assignee)

_____________________________________________________________
the within Subordinated Security of Friedman, Billings, Ramsey Group, Inc.
and hereby does irrevocably constitute and appoint

_____________________________________________________________
Attorney to transfer said Subordinated Security on the books of the within-named
Corporation with full power of substitution in the premises.
<PAGE>

Dated: _________________________________________

________________________________________________

NOTICE: The signature to this assignment must correspond with the name as it
appears on the first page of the within Subordinated Security in every
particular, without alteration or enlargement or any change whatever.<PAGE>
                                                                    EXHIBIT 10.1

                                             AMENDMENT NO. 1 dated as of July
                                    31, 2002 (this "Amendment"), to the Credit
                                    Agreement dated as of August 1, 2001 (the
                                    "Credit Agreement"), among WRIGHT MEDICAL
                                    GROUP, INC., a Delaware corporation, WRIGHT
                                    MEDICAL TECHNOLOGY, INC., a Delaware
                                    corporation, the LENDERS from time to time
                                    party thereto, and JPMORGAN CHASE BANK, a
                                    New York banking corporation formerly known
                                    as The Chase Manhattan Bank, as
                                    administrative agent and collateral agent
                                    for such lenders and as issuing bank.

                  A. Pursuant to the Credit Agreement, the Lenders and the
Issuing Bank have extended credit to the Borrower, and have agreed to extend
credit to the Borrower, in each case pursuant to the terms and subject to the
conditions set forth therein.

                  B. Section 5.07 of the Credit Agreement requires Holdings and
the Borrower to maintain in full force and effect certain levels of insurance
with respect to, among other things, their and their subsidiaries' properties
and products liability risks. In particular, Section 5.07 of the Credit
Agreement requires that Holdings and the Borrower maintain with the same or
other financially sound and reputable insurance companies the products liability
insurance that was in existence on the Effective Date of the Credit Agreement.

                  C. Holdings and the Borrower have informed the Administrative
Agent that, as a result of significant increases in the premiums for their
insurance policies, in their reasonable business judgment, it would be
commercially reasonable and prudent, and it would be consistent with general
industry practice, to reduce the current amount of their insurance coverages
and/or to increase the current deductibles thereunder. Accordingly, Holdings and
the Borrower have informed the Administrative Agent they seek an amendment of
Section 5.07 of the Credit Agreement as set forth herein.

                  D. The Required Lenders are willing to agree to such amendment
pursuant to the terms and subject to the conditions set forth herein.

                  E. Each capitalized term used and not otherwise defined herein
shall have the meaning assigned to such term in the Credit Agreement.

                  Accordingly, in consideration of the mutual agreements herein
contained and other good and valuable consideration, the sufficiency and receipt
of which are hereby acknowledged, the parties hereto agree as follows:

                  SECTION 1. Amendment. Section 5.07 of the Credit Agreement is
hereby amended and restated in its entirety to read as follows:

                  SECTION 5.07. Insurance. Each of Holdings and the Borrower
         will, and will cause each of the Subsidiaries to, at all times maintain
         in full force and effect, with financially sound and reputable
         insurance companies, products liability

<PAGE>

         insurance and insurance on all property owned, occupied or controlled
         by it in at least such amounts (including deductibles) and against at
         least such risks insured against in the same general area by companies
         engaged in the same or a similar business and such other insurance as
         may be required by law. Each of Holdings and the Borrower will, and
         will cause each Subsidiary to, furnish to the Administrative Agent,
         upon written request of the Administrative Agent, a summary of the
         insurance carried together with certificates of insurance and other
         evidence of such insurance, if any, naming the Administrative Agent as
         an additional insured and/or loss payee.

                  SECTION 2. Representations and Warranties. Each of Holdings
and the Borrower represents and warrants to each other party hereto that, after
giving effect to this Amendment, (a) the representations and warranties set
forth in Article III of the Credit Agreement are true and correct in all
material respects on and as of the date hereof, except to the extent such
representations and warranties expressly relate to an earlier date (in which
case such representations and warranties were true and correct in all material
respects as of the earlier date), and (b) no Default or Event of Default has
occurred and is continuing.

                  SECTION 3. Effectiveness. This Amendment shall become
effective as of the date set forth above on the date that the Administrative
Agent or its counsel shall have received counterparts of this Amendment that,
when taken together, bear the signatures of the Borrower, Holdings and the
Required Lenders.

                  SECTION 4. Effect of Amendment. Except as expressly set forth
herein, this Amendment shall not by implication or otherwise limit, impair,
constitute a waiver of, or otherwise affect the rights and remedies of the
Lenders, the Issuing Bank, Collateral Agent or the Administrative Agent, under
the Credit Agreement or any other Loan Document, and shall not alter, modify,
amend or in any way affect any of the terms, conditions, obligations, covenants
or agreements contained in the Credit Agreement or any other Loan Document, all
of which are ratified and affirmed in all respects and shall continue in full
force and effect. Nothing herein shall be deemed to entitle the Borrower to a
consent to, or a waiver, amendment, modification or other change of, any of the
terms, conditions, obligations, covenants or agreements contained in the Credit
Agreement or any other Loan Document in similar or different circumstances.

                  SECTION 5. Counterparts. This Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed and delivered shall be deemed an original, but
all such counterparts together shall constitute but one and the same instrument.
Delivery of any executed counterpart of a signature page of this Amendment by
facsimile transmission shall be as effective as delivery of a manually executed
counterpart hereof.

                  SECTION 6. Applicable Law. THIS AMENDMENT SHALL BE CONSTRUED
IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO THE CHOICE OF LAW PROVISIONS THEREOF.

<PAGE>

                  SECTION 7. Headings. The headings of this Amendment are for
purposes of reference only and shall not limit or otherwise affect the meaning
hereof.

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed by their respective authorized officers as of the day and year
first above written.

                                     WRIGHT MEDICAL GROUP INC.,

                                     by
                                            /s/ F. Barry Bays
                                            -----------------------------------
                                            Name: F. Barry Bays
                                            Title: President, Chief Executive
                                            Officer, and Director

                                     WRIGHT MEDICAL TECHNOLOGY,
                                     INC.,

                                     by
                                            /s/ John K. Bakewell
                                            -----------------------------------
                                            Name: John K. Bakewell
                                            Title: Executive Vice-President and
                                            Chief Financial Officer

                                     JPMORGAN CHASE BANK,
                                     as a Lender, as Administrative Agent,
                                     Collateral Agent and Issuing Bank,

                                     by
                                            /s/ Robert Bottamedi
                                            -----------------------------------
                                            Name: Robert Bottamedi
                                            Title: Vice-President

<PAGE>

                                                              SIGNATURE PAGE TO
                                                    AMENDMENT NO. 1 DATED AS OF
                                                   JULY 31, 2002, TO THE WRIGHT
                                                MEDICAL TECHNOLOGY, INC. CREDIT
                                                          AGREEMENT DATED AS OF
                                                                 AUGUST 1, 2001

Name of Lender: Fleet National Bank
               ---------------------------------------------------------

               by /s/ Garth J. Collins
                  ------------------------------------------------------
                  Name: Garth J. Collins
                  Title: Senior Vice President

Name of Lender: U.S. Bank National Association
               ---------------------------------------------------------

               by /s/ Christopher W. Rupp
                  ------------------------------------------------------
                  Name: Christopher W. Rupp
                  Title: Assistant Vice President

Name of Lender: Credit Suisse First Boston
               ---------------------------------------------------------

               by /s/ Robert Hetu               /s/ Kristin Lepri
                  ------------------------------------------------------
                  Name: Robert Hetu               Kristin Lepri
                  Title: Director                 Associate

Name of Lender: SunTrust Bank, Inc.
               ---------------------------------------------------------

               by /s/ W. Brooks Hubbard
                  ------------------------------------------------------
                  Name: W. Brooks Hubbard
                  Title: Director

<PAGE>

                                             AMENDMENT NO. 2 dated as of May 23,
                                    2003 (this "Amendment"), to the Credit
                                    Agreement dated as of August 1, 2001, as
                                    amended by Amendment No. 1 dated as of July
                                    31, 2002 (the "Credit Agreement"), among
                                    WRIGHT MEDICAL GROUP, INC., a Delaware
                                    corporation, WRIGHT MEDICAL TECHNOLOGY,
                                    INC., a Delaware corporation, the LENDERS
                                    from time to time party thereto, and
                                    JPMORGAN CHASE BANK, a New York banking
                                    corporation formerly known as The Chase
                                    Manhattan Bank, as administrative agent and
                                    collateral agent for such lenders and as
                                    issuing bank.

                  A. Pursuant to the Credit Agreement, the Lenders and the
Issuing Bank have extended credit to the Borrower, and have agreed to extend
credit to the Borrower, in each case pursuant to the terms and subject to the
conditions set forth therein.

                  B. Holdings has informed the Administrative Agent that it
intends to establish a new investment policy, approved by its Board of Directors
on October 24, 2002, for the investment of temporarily idle or surplus funds of
Holdings, the Borrower and the Subsidiaries (such policy, and any other similar
policy from time to time approved by the Board of Directors of Holdings and
reasonably acceptable to the Administrative Agent being referred to as the
"Investment Policy").

                  C. Holdings also has informed the Administrative Agent that
certain foreign Subsidiaries intend to sell certain of their accounts
receivable.

                  D. Accordingly, Holdings and the Borrower have informed the
Administrative Agent that they seek amendments of Section 1.01, Section
6.01(a)(vii), Section 6.04(a) and Section 6.05(d) of the Credit Agreement as set
forth herein.

                  E. The Required Lenders are willing to agree to such
amendments pursuant to the terms and subject to the conditions set forth herein.

                  F. Each capitalized term used and not otherwise defined herein
shall have the meaning assigned to such term in the Credit Agreement, as amended
hereby.

                  Accordingly, in consideration of the mutual agreements herein
contained and other good and valuable consideration, the sufficiency and receipt
of which are hereby acknowledged, the parties hereto agree as follows:

                  SECTION 1. Amendments. (a) Section 1.01 of the Credit
Agreement is hereby amended as follows:

                  (i) The definitions of "Italian Receivables Subsidiary" and
         "Italian Receivables Program" are deleted in their entirety.

<PAGE>

                  (ii) The following definitions are inserted in their proper
         alphabetical order:

                           "Foreign Receivables Subsidiary" means Cremascoli or
                  any subsidiary of Cremascoli organized under the laws of a
                  jurisdiction other than the United States of America or any
                  State thereof or the District of Columbia.

                           "Foreign Receivables Program" means the sale of
                  accounts receivable by a Foreign Receivables Subsidiary
                  pursuant to a program reasonably acceptable to the
                  Administrative Agent and any amendment, modification or
                  replacement of such program; provided that any such amendment,
                  modification or replacement shall not be materially adverse to
                  the interests of the Lenders and shall also be subject to the
                  prior written approval of the Administrative Agent.

                  (iii) The definition of "Permitted Investments" is hereby
         amended and restated in its entirety to read as follows:

                           "Permitted Investments" means:

                           (a) direct obligations of, or obligations the
                  principal of and interest on which are unconditionally
                  guaranteed by, the United States of America (or by any agency
                  or instrumentality thereof to the extent such obligations are
                  backed by the full faith and credit of the United States of
                  America), in each case maturing within 36 months from the date
                  of acquisition thereof;

                           (b) investments in commercial paper maturing within
                  nine months from the date of acquisition thereof and having,
                  at such date of acquisition, the highest credit rating
                  obtainable from S&P or from Moody's;

                           (c) investments in certificates of deposit, banker's
                  acceptances and time deposits maturing within six months from
                  the date of acquisition thereof issued or guaranteed by or
                  placed with, and money market deposit accounts issued or
                  offered by, any domestic office of any commercial bank
                  organized under the laws of the United States of America or
                  any State thereof (a "U.S. Commercial Bank") that, at such
                  date of issuance, guarantee or placement, has a long term
                  rating of A or better by S&P or Moody's, is a member of the
                  Federal Deposit Insurance Corporation and is among the 50
                  largest U.S. Commercial Banks ranked according to total
                  assets;

                           (d) Eurodollar time deposits maturing within 14 days
                  from the date of acquisition thereof placed with any
                  international commercial bank that, at such date of placement,
                  has a long term rating of A or better by S&P or Moody's or a
                  comparable rating by a comparable rating agency

<PAGE>

                  and that is among the 50 largest international banks ranked
                  according to total assets;

                           (e) fully collateralized repurchase agreements with a
                  term of not more than 30 days for securities described in
                  clause (a) above and entered into with a financial institution
                  satisfying the criteria described in clause (c) above;

                           (f) tax exempt securities, in an aggregate amount not
                  to exceed $10,000,000 at any time outstanding, maturing within
                  15 months from the date of acquisition thereof and having, at
                  such date of acquisition, a rating of AA or better by S&P and
                  Aa or better by Moody's;

                           (g) corporate bonds, in an aggregate amount not to
                  exceed $10,000,000 at any time outstanding, maturing within 36
                  months from the date of acquisition thereof and having, at
                  such date of acquisition, a rating of AA or better by S&P and
                  Aa or better by Moody's;

                           (h) floating rate notes, in an aggregate amount not
                  to exceed $10,000,000 at any time outstanding, maturing within
                  24 months from the date of acquisition thereof and having, at
                  such date of acquisition, a rating of AA or better by S&P and
                  Aa or better by Moody's; and

                           (i) shares of money market mutual, money market
                  preferred, or similar funds, in an aggregate amount not to
                  exceed $25,000,000 at any time outstanding, having assets in
                  excess of $500,000,000 and which invest substantially all of
                  their assets in investments satisfying the requirements of
                  clauses (a) through (h) of this definition.

                  (b) Section 6.01(a)(vii) of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

                           (vii) Indebtedness of the Foreign Receivables
                  Subsidiaries in connection with the Foreign Receivables
                  Programs in an amount not to exceed (Euro)20,000,000;

                  (c) Section 6.04(a) of the Credit Agreement is hereby amended
and restated in its entirety to read as follows:

                           (a) Permitted Investments held in accordance with the
                  Investment Policy (as defined in Amendment No. 2 dated as of
                  May 23, 2003, to the Agreement);

                  (d) Section 6.05(d) of the Credit Agreement is hereby amended
and restated in its entirety to read as follows:

                           (d) sales of accounts receivable of the Foreign
                  Receivables Subsidiaries in connection with the Foreign
                  Receivables Programs;

<PAGE>

                  SECTION 2. Representations and Warranties. Each of Holdings
and the Borrower represents and warrants to each other party hereto that, after
giving effect to this Amendment, (a) the representations and warranties set
forth in Article III of the Credit Agreement are true and correct in all
material respects on and as of the date hereof, except to the extent such
representations and warranties expressly relate to an earlier date (in which
case such representations and warranties were true and correct in all material
respects as of the earlier date), and (b) no Default or Event of Default has
occurred and is continuing.

                  SECTION 3. Effectiveness. This Amendment shall become
effective as of the date set forth above on the date that the Administrative
Agent or its counsel shall have received counterparts of this Amendment that,
when taken together, bear the signatures of Holdings, the Borrower and the
Required Lenders.

                  SECTION 4. Effect of Amendment. Except as expressly set forth
herein, this Amendment shall not by implication or otherwise limit, impair,
constitute a waiver of, or otherwise affect the rights and remedies of the
Lenders, the Issuing Bank, Collateral Agent or the Administrative Agent, under
the Credit Agreement or any other Loan Document, and shall not alter, modify,
amend or in any way affect any of the terms, conditions, obligations, covenants
or agreements contained in the Credit Agreement or any other Loan Document, all
of which are ratified and affirmed in all respects and shall continue in full
force and effect. Nothing herein shall be deemed to entitle Holdings or the
Borrower to a consent to, or a waiver, amendment, modification or other change
of, any of the terms, conditions, obligations, covenants or agreements contained
in the Credit Agreement or any other Loan Document in similar or different
circumstances.

                  SECTION 5. Counterparts. This Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed and delivered shall be deemed an original, but
all such counterparts together shall constitute but one and the same instrument.
Delivery of any executed counterpart of a signature page of this Amendment by
facsimile transmission shall be as effective as delivery of a manually executed
counterpart hereof.

                  SECTION 6. Applicable Law. THIS AMENDMENT SHALL BE CONSTRUED
IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO THE CHOICE OF LAW PROVISIONS THEREOF.

                  SECTION 7. Headings. The headings of this Amendment are for
purposes of reference only and shall not limit or otherwise affect the meaning
hereof.

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed by their respective authorized officers as of the day and year
first above written.

                                     WRIGHT MEDICAL GROUP, INC.,

                                     by /s/ F. Barry Bays
                                        ---------------------------------------
                                        Name: F. Barry Bays
                                        Title: President and CEO

                                     WRIGHT MEDICAL TECHNOLOGY,
                                     INC.,

                                     by /s/ John Bakewell
                                        ---------------------------------------
                                        Name: John Bakewell
                                        Title: Executive Vice President and
                                        CFO

                                     JPMORGAN CHASE BANK,
                                     as a Lender, as Administrative Agent,
                                     Collateral Agent and Issuing Bank,

                                     by /s/ Jim Ely
                                        ---------------------------------------
                                        Name: Jim Ely
                                        Title: Managing Director

<PAGE>

                                                              SIGNATURE PAGE TO
                                                    AMENDMENT NO. 2 DATED AS OF
                                                    MAY 23, 2003, TO THE WRIGHT
                                                MEDICAL TECHNOLOGY, INC. CREDIT
                                                          AGREEMENT DATED AS OF
                                                                 AUGUST 1, 2001

Name of Lender: Credit Suisse First Boston, acting through its
                Cayman Island Branch
                ---------------------------------------------------------------

                by /s/ Christopher Lally
                   -------------------------------------------
                   Name: Christopher Lally
                   Title: Vice President

                by /s/ Jennifer A. Pieza
                   -------------------------------------------
                   Name: Jennifer A. Pieza
                   Title: Associate

Name of Lender: Fleet National Bank
               -----------------------------------------------

                by /s/ G. J. Collins
                   -------------------------------------------
                   Name: G. J. Collins
                   Title: Senior Vice President

Name of Lender: Sun Trust Bank
               -----------------------------------------------

                by /s/ Cathy Hunnicutt
                   -------------------------------------------
                   Name: Cathy Hunnicutt
                   Title: Portfolio Manager

Name of Lender: U.S. Bank
               -----------------------------------------------

                by /s/ David Nussbaum
                   -------------------------------------------
                   Name: David Nussbaum
                   Title: Banking Officer

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