Document:

<PAGE>

                                                                  EXHIBIT 10.02

                            [ATHEROGENICS, INC. LOGO]

                           2004 EQUITY OWNERSHIP PLAN

                           EQUITY OWNERSHIP AGREEMENT

                                   RELATING TO

                           NON-QUALIFIED STOCK OPTIONS

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

<PAGE>

                               ATHEROGENICS, INC.

                           2004 EQUITY OWNERSHIP PLAN
                           EQUITY OWNERSHIP AGREEMENT

         THIS AGREEMENT is entered into between AtheroGenics, Inc. ("Company") a
Georgia corporation and __________________ ("Grantee").

                                   WITNESSETH:

         WHEREAS, the Board of Directors ("Board") of the Company has approved
the grant of STOCK OPTIONS to selected Participants pursuant to the
AtheroGenics, Inc. 2004 Equity Ownership Plan ("Plan"); and

         WHEREAS, the Grantee has been selected to receive Non-Qualified Stock
Options under the Plan;

         NOW, THEREFORE, in consideration of the above premises, the Company and
the Grantee agree as follows:

                            I. GRANT OF STOCK OPTIONS

         Subject to the terms and conditions set forth herein and in the Plan
which is attached hereto (or has previously been provided to Grantee) and made a
part hereof, the Grantee is hereby awarded, effective ___________, ____ (the
"Date of Grant"), Non-Qualified Stock Options to purchase ____________ shares of
Stock of the Company. For purposes of this Agreement, the Vestment Commence Date
of the Options is __________________, ____.

                               II. EXERCISE PRICE

         Each Option granted above shall have an Exercise Price of $____________
per share.

                                  III. VESTING

         The Grantee may exercise only those Options which are Vested and have
not yet expired as set forth in Section IV. Except as specified in the special
rules which follow, Options granted under this Agreement become Vested in
accordance with Schedule A attached. (For purposes of determining the Monthly
Anniversary of the Vesting Commencement Date of an Option, if the Vesting
Commencement Date occurs on the 29th, 30th or 31st day of the month, and the
month during which the Monthly Anniversary is to be determined does not contain
such a 29th, 30th or 31st day, respectively, the last day of such month shall be
considered the Monthly Anniversary of the Vesting Commencement Date.)

         Notwithstanding the Vesting set forth in Schedule A, and subject to the
terms of the Plan, the following special rules apply with regard to the Options
granted under this Agreement:

                                       -2-
<PAGE>

         (a)      In the event of the Disability of the Grantee while employed
by the Company, the Options granted herein will become 100% Vested on the date
the Grantee incurs a Termination of Employment because of Disability.

         (b)      In the event of the death of the Grantee while employed by the
Company, the Options granted herein will become 100% Vested on the date of
death.

         (c)      In the event of the Voluntary Resignation of the Grantee, no
further Options will become Vested after the Termination of Employment.

         (d)      In the event of the Involuntary Termination of the Grantee, no
further Options will become Vested after the Termination of Employment.

         (e)      In the event of Termination of Employment of the Grantee for
Cause, no further Options will become Vested after the Termination of
Employment.

         (f)      In the event of a Change of Control followed by a Constructive
Discharge or Involuntary Termination of the Grantee within twenty-four (24)
months following the Change of Control, the Options granted herein will become
100% Vested.

         (g)      In the event of the Grantee's Termination of Employment for
any reason other than those specified in (a) through (f) above, no further
Options will become Vested after the date of such Termination of Employment.

         (h)      Additionally, the Administrator may accelerate the Vesting of
the Grantee's Options if the Administrator determines that it is in the best
interests of the Company.

                                  IV. EXERCISE

         The Expiration Date of the Options granted herein is the date
immediately preceding the tenth anniversary of the Date of Grant. Prior to a
Termination of Employment or Termination of Affiliation the Grantee may exercise
any Vested Options until the Options' Expiration Date. The Grantee's ability to
exercise any Vested Options following a Termination of Employment or Termination
of Affiliation is as follows:

         (a)      In the event the Grantee dies prior to a Termination of
Employment or Termination of Affiliation or within six (6) months following a
Termination of Employment or Termination of Affiliation because of Disability,
the Grantee or the legal representative of such Grantee's estate acting on the
Grantee's behalf may exercise any Vested Options for a period of six (6) months
following death (but not later than the Expiration Date of the Options, if
shorter);

         (b)      In the event the Grantee incurs a Termination of Employment or
Termination of Affiliation because of Disability, the Grantee or, if Grantee is
legally incapacitated, Grantee's legal representative acting on the Grantee's
behalf, may exercise any Vested Options for a period of six (6) months following
the date of the Termination of Employment or Termination of Affiliation because
of Disability (but not later than the Expiration Date of the Options, if
shorter).

                                       -3-
<PAGE>

         (c)      In the event that the Grantee incurs a Termination of
Employment or Termination of Affiliation for Cause, the Grantee shall have no
further right to exercise any Option granted hereunder effective with the
Company's delivery (or deemed delivery) of notice to the Grantee of such
Termination of Employment or Termination of Affiliation for Cause; or

         (d)      In the event that the Grantee incurs a Termination of
Employment or Termination of Affiliation for any reason not specified in (a)
through (c) above, the Grantee may exercise any Vested Options for a period of
thirty (30) days following the date of the Grantee's Termination of Employment
or Termination of Affiliation (but not later than the Expiration Date of the
Options, if shorter).

Neither Grantee nor any other person entitled to exercise the Options under the
terms of the Plan shall be, or have any of the rights or privileges of, a
shareholder of the Company in respect to any shares of Stock issuable upon
exercise of the Option, unless and until the Exercise Price for such shares has
been paid in full.

                            V. DISPOSITIONS OF STOCK

         The Grantee, by acceptance hereof, hereby represents, warrants and
agrees that, upon exercise of this Option, unless the shares of Stock are then
covered by an effective registration statement under the Securities Act of 1933,
as amended (the "Act"):

         (a)      the Stock is being acquired for investment and not with a view
towards the public distribution or resale thereof;

         (b)      the Grantee will not sell, transfer or assign any Stock except
in compliance with the Act and the rules and regulations thereunder;

         (c)      the certificate representing the Stock may bear an appropriate
restrictive legend; and

         (d)      the transfer agent of the Company may place a stop transfer
notation with respect to the shares in the Stock transfer books of the Company.

                             VI. NOTICE AND PAYMENT

         Subject to the limitations set forth in this Agreement, the Grantee may
exercise Options granted under this Agreement by delivering written notice to
the Company, on a form provided by the Company, specifying the number of shares
of Stock to be purchased. The Exercise Price of any Option shall be payable to
the Company in full at the time of exercise of the Option (i) in cash or its
equivalent, (ii) by delivery or deemed delivery (based on an attestation of the
ownership thereof) of previously acquired Stock which has been held by the
Grantee for at least six (6) months having a Fair Market Value on the date of
exercise equal to the total Exercise Price, (iii) by a combination of cash and
previously acquired stock or (iv) if available, by irrevocably authorizing a
third party to sell shares of Stock acquired upon exercise of the Option (or a
sufficient portion of such shares) and remit to the Company a sufficient portion
of the proceeds to pay the entire exercise price.

                                       -4-
<PAGE>

                                  VII. GENERAL

         Administration. Administration of this agreement will be governed by
the terms and conditions set forth in the Plan in effect on the Date of Grant.
That document is incorporated in this Agreement in its entirety.

         Notices. Every notice or other communication relating to the Agreement
shall be in writing, and shall be mailed to or delivered to the party for whom
it is intended at such address as may from time to time be designated by such
party. Unless and until some other address is so designated, all notices or
communications by the Grantee to the Company shall be mailed to AtheroGenics,
Inc., 8995 Westside Parkway, Alpharetta, GA 30004. Attention: Chief Executive
Officer. All notices by the Company to the Grantee may be delivered to the
Grantee personally or may be mailed to the Grantee at the address shown on the
records of the Company.

         Withholding: The Company shall deduct from any payment of any kind due
to the Grantee, any federal, state or local taxes of any kind required by law to
be withheld with respect to the exercise of the Options or require the Grantee
to remit an additional amount in cash or its equivalent to pay for such
withholding as a condition of receiving Stock under this Agreement; provided,
however, that upon notice to the Administrator, the Grantee may, when available,
authorize the sale of Vested Option shares in accordance with clause (iv) of
Section VI to pay the relevant tax withholding (but in such case, the number of
such Vested Option shares authorized for sale for withholding purposes shall be
limited to no more than the number necessary to pay the minimum amount of
withholding mandated by applicable law).

         Termination of Affiliation or Employment Followed by Other Service. In
the event that the Grantee incurs a Termination of Affiliation or Termination of
Employment, as applicable, followed within thirty (30) days by the commencement
of a period of service as a consultant to the Company, the Administrator, in its
sole discretion, may specify by resolution at the time of such transition that,
for purposes of this Agreement, the Grantee's Termination of Affiliation shall
be disregarded. In the event that the Grantee incurs a Termination of
Affiliation followed within thirty (30) days by the commencement of a period of
service as an employee of the Company, the Administrator, in its sole
discretion, may specify by resolution at the time of such transition that, for
purposes of this Agreement, the Grantee's Termination of Affiliation shall be
disregarded, and from and after the date of the Grantee's Termination of
Affiliation, the provisions of this Agreement shall be administered and
interpreted as originally written. Notwithstanding anything in this Agreement to
the contrary, in any case in which the Administrator exercises its authority
under this paragraph, conflicting provisions of this Agreement shall be deemed
modified to reflect the action of the Administrator, and the transition period
between the Termination of Affiliation or Termination of Employment and the
commencement of a period of further service with the Company shall be deemed to
be continuing service for all purposes under this Agreement.

         Interpretation: This Agreement is subject in all respects to the terms
of the Plan, and in the event that any provision of the Agreement shall be
inconsistent with the terms of the Plan, then the terms of the Plan shall
govern. Any question of interpretation arising under this Agreement shall be
determined by the Administrator and its determinations shall be final and
conclusive upon all parties in interest. All capitalized terms in this Agreement
which are defined

                                       -5-
<PAGE>

in the Plan shall have the same definition for purposes of this Agreement as
they have in the Plan.

         Counterparts: This Agreement may be executed in one or more
counterparts, each counterpart of which will be regarded for all purposes as an
original.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the _______day of ___________, 2_____.

                                         ATHEROGENICS, INC.

                                         By:
                                             ----------------------------------
                                             Name:
                                                   ----------------------------
                                              Title:
                                                     --------------------------

                                         GRANTEE:

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

                                       -6-
<PAGE>

                                   SCHEDULE A
                                VESTING SCHEDULE

<TABLE>
<CAPTION>
COMPLETE CALENDAR                INCREMENTAL                    CUMULATIVE
      MONTHS                       VESTING                        VESTING
 COMMENCING ON OR
  AFTER VESTING
COMMENCEMENT DATE
-----------------                -----------                    ----------
<S>                              <C>                            <C>
        1                            0%                              0%
        2                            0%                              0%
        3                            0%                              0%
        4                            0%                              0%
        5                            0%                              0%
        6                            0%                              0%
        7                            0%                              0%
        8                            0%                              0%
        9                            0%                              0%
        10                           0%                              0%
        11                           0%                              0%
        12                          25%                             25%
        13                           2%                             27%
        14                           2%                             29%
        15                           2%                             31%
        16                           2%                             33%
        17                           2%                             35%
        18                           2%                             37%
        19                           2%                             39%
        20                           2%                             41%
        21                           2%                             43%
        22                           2%                             45%
        23                           2%                             47%
        24                           3%                             50%
</TABLE>

                                       -7-
<PAGE>

<TABLE>
        <S>                          <C>                           <C>
        25                           2%                             52%
        26                           2%                             54%
        27                           2%                             56%
        28                           2%                             58%
        29                           2%                             60%
        30                           2%                             62%
        31                           2%                             64%
        32                           2%                             66%
        33                           2%                             68%
        34                           2%                             70%
        35                           2%                             72%
        36                           3%                             75%
        37                           2%                             77%
        38                           2%                             79%
        39                           2%                             81%
        40                           2%                             83%
        41                           2%                             85%
        42                           2%                             87%
        43                           2%                             89%
        44                           2%                             91%
        45                           2%                             93%
        46                           2%                             95%
        47                           2%                             97%
        48                           3%                            100%
</TABLE>

                                       -8-<PAGE>

                                  EXHIBIT 10.2

                  AMENDMENT NO. 5 TO MASTER AGREEMENT TO LEASE

      This Amendment No. 5 (hereinafter "5th Amendment") is made to that certain
Master Agreement to Lease between National Health Investors, Inc. ("Landlord" or
"NHI") and National HealthCare Corporation ("Tenant" or "NHC") dated October 17,
1991 (hereinafter "Master Lease") and is entered into on this the 27th day of
December, 2005, to be effective January 1, 2007.

      PRELIMINARY STATEMENTS:

      A. WHEREAS, pursuant to the terms of the Master Lease, National HealthCare
Corporation ("NHC") has leased certain licensed nursing centers, assisted living
or retirement facilities in forty-one geographical locations (hereinafter
"Leased Property" or "Leased Properties") as identified on Exhibit A to said
Master Lease; and

      B. WHEREAS, the Master Lease contains a provision for a five year "Second
Renewal Term" which shall commence on January 1, 2007; and

      C. WHEREAS, the parties, by Independent Directors Committees, have entered
into negotiations and now finalized the terms and conditions of the Second
Renewal Term; and

      D. WHEREAS, the parties have heretofore deleted from the terms of the
Master Lease two (2) Leased Properties, namely NHC HealthCare, Nashville and NHC
HealthCare, Dawson Springs;

      NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES the parties do hereby
amend the Master Lease as follows:

      1. Section 1.03 is amended as follows:

      1.03 Term. "Second Renewal Term" shall mean a fifteen year term commencing
on January 1, 2007, which Second Renewal Term is hereby exercised by Tenant and
accepted by Landlord. Additionally, Tenant shall have the option to renew the
Master Lease for three (3) further five-year terms commencing January 1, 2022
(the "Third Renewal Term"), January 1, 2027 (the "Fourth Renewal Term"), and
January 1, 2032 (the "Fifth Renewal Term") for the Base Rent as described in
Section 2.01.01(b). Finally, six months written notice in advance must be given
by NHC to NHI to exercise the Third, Fourth and Fifth Renewal Terms as described
above, prior to the expiration of the then term; Tenant may not renew any
successive renewal term if it is in default under the Master Lease or any
amendments thereto.

      2. Section 2.01.01 shall be deleted in its entirety with the following to
be substituted in lieu thereof:

      2.01.01(a) Base Rent During Second Renewal Term. The total Base Rent for
all Leased Properties during the Second Renewal Term shall aggregate $33,700,000
as allocated among the various Leased Properties by a schedule attached to this
5th Amendment as Schedule A-2.

                                       1

<PAGE>

      2.01.01(b) Base Rent During Third, Fourth and Fifth Renewal Terms. The
Base Rent for each Leased Property during the Third, Fourth and Fifth Renewal
Terms shall be the then Fair Rental Value of such Leased Property as negotiated
between the parties, and determined without including any value attributable to
any improvements to the Leased Property, voluntarily made by Tenant at its
expense.

      3. Article 2 specifically and the Master Lease in general is hereby
amended by deleting all references to the term "Assumed Mortgage Debt Service
Rent."

      4. Section 2.06 is deleted in its entirety with the following being
substituted in lieu thereof:

      2.06 Percentage Rent. In addition to the Base Rent with respect to each
Lease Year after 2007, Tenant shall pay Landlord Percentage Rent ("Percentage
Rent") in accordance with this Section 2.06 equal to 4% of the amount by which
the Gross Revenues (as defined in Article 2.06.01) of each Leased Property in
the applicable Lease Year exceeds the Gross Revenues of such Leased Property
during 2007.

      5. Article 6 is hereby amended by the addition of the following Section
6.05:

      6.05 Hiring Each Other's Employees. Landlord and its affiliates agree that
they will not induce by personal contact or personally initiated third party
contact with any employee of NHC (other than Andrew Adams) or its affiliates to
leave the employment of NHC or affiliates, without the express written consent
of NHC or its affiliates.

      6. Section 9.02 is hereby amended by the deletion of reference to "Assumed
Mortgage Debt" and additionally in subparagraph (a) the deletion of a reference
to "3% per annum" and the deletion of the year "1992", with the substitution
therein of "4% per annum" and the year of "2007," respectively.

      7. Article 13 is hereby amended by adding the following as 13.01.01:

      13.01.01 Management Contracts. Landlord agrees to offer Tenant a Right of
First Refusal on any properties on which it intends to retain a third party
manager in any county where Landlord leases projects to Tenant. This offer may
be made no more than sixty (60) days in advance of potential management
changeover. Tenant has ten (10) business days to accept or reject the offer. If
rejected and if Landlord has received a management contract offer from a third
party with any different economic terms, NHI will give NHC five (5) days from
receipt of written notification sent by certified mail to accept same on
identical terms and conditions. Failure by Tenant to respond will be deemed a
denial by Tenant.

      8. Article 13 is hereby amended by adding the following as Section 13.02:

      13.02 Right of First Refusal on NHI Development Projects. Landlord and
Tenant do hereby agree that NHI will extend to NHC a Right of First Refusal on
NHI Development Projects in any county in which NHC now operates or manages a
NHC Health Care Center, in accordance with the definitions and terms of this
Right of First Refusal Procedure as hereinafter set forth.

                                       2

<PAGE>

      A.    RIGHT OF FIRST REFUSAL PROCEDURES shall mean the following:

            (i)   Upon NHI delivering a Written Offer to NHC on a NHI
                  Development Project, NHC shall have ten (10) business days
                  from receipt of a certified mailing to accept or reject the
                  Written Offer by written instrument. The failure of NHC to
                  accept or reject the Written Offer by the normal close of
                  business on the tenth (10) business day from the date of
                  receipt shall be deemed a rejection thereof.

            (ii)  Subsequently if NHI has a third party offer, which it is
                  willing to accept and which changes in any economic manner the
                  terms of the original Written Offer, then NHI must re-offer
                  the Written Offer on the changed terms and conditions to NHC,
                  which shall have five business days from the receipt by Tenant
                  of the certified mailing to accept or reject in writing the
                  changed terms. A failure to accept or reject in writing by the
                  close of business on the fifth business day from the date of
                  receipt shall be deemed a rejection.

      B.    DEFINITIONS.

            (i)   "NHI DEVELOPMENT PROJECT(S)" shall mean the development of
                  skilled or intermediate nursing centers, assisted living
                  facilities and/or independent living projects on which NHI or
                  its affiliates have purchased or contracted for property,
                  architectural plans and/or a finalized construction contract,
                  which NHI then offers to sell to or finance for a third party
                  operator.

            (ii)  "NHC HEALTH CARE CENTER(S)" means any licensed skilled or
                  intermediate nursing center, assisted living facility or
                  independent living units free-standing or attached to either
                  an assisted living, skilled, or intermediate nursing facility
                  owned or managed by NHC.

            (iii) "WRITTEN OFFER" means a written transmittal, sent by certified
                  mail by NHI to NHC, which states the definitive terms upon
                  which NHI would engage in a sale-leaseback or mortgage
                  financing of a NHI Development Project, which definitive offer
                  must include at the very least a) the total purchase price or
                  amount financed, b) the rate of interest or lease payment
                  amount, c) a term of years for the lease and/or mortgage, and
                  d) a description of the NHI Development Project, including
                  square footage, number of beds, apartments or units and, to
                  the extent that it is then known by NHI, a physical address.

      C.    PENALTY.

            Should either party breach this Right of First Refusal then it
            agrees to reimburse the other party reasonable attorneys' fees,
            costs and expenses incurred by it in a successful enforcement action
            brought by one party against the other.

      9. Section 18.01 is hereby amended by deleting the notice names and
addresses and substituting the following in lieu thereof:

                                       3
<PAGE>

      If to Tenant:    National HealthCare Corporation
                       100 Vine Street, Suite 1400
                       Murfreesboro, TN  37130

      With a copy to:  Office of General Counsel
                       National HealthCare Corporation
                       100 Vine Street, Suite 1400
                       Murfreesboro, TN  37130

      If to Landlord:  National Health Investors, Inc.
                       750 South Church Street, Suite B
                       Murfreesboro, TN  37130

      10. Section 18.17 (Guarantee Fee Credit) is hereby deleted in its
entirety.

      11. Section 18.25 is hereby added as follows:

            18.25 Amendments to Master Lease Agreement Incorporated. The
amendments to the provisions of the Master Lease Agreement provided for herein
are hereby incorporated in and made a part of each short-form Lease Agreement of
the Leased Property.

      12. Schedule A is amended by deletion of the original Schedule A and the
substitution of the attached Schedule A-1 in lieu thereof:

      IN WITNESS WHEREOF, the parties have executed this 5th Amendment as of the
date set forth above.

                                     NATIONAL HEALTH INVESTORS, INC.

                                     By: /s/ W. Andrew Adams
                                         W. Andrew Adams, President

                                     NATIONAL HEALTHCARE CORPORATION

                                     By: /s/ R. Michael Ussery
                                         R. Michael Ussery, Sr. V.P., Operations

Witnessed by:

/s/ Barbara Harris
Barbara Harris

                                       4
<PAGE>

                                  Schedule A-1

Tennessee Centers:

NHC HealthCare, Athens
1204 Frye Street
Athens, TN 37303

NHC HealthCare, Chattanooga
2700 Parkwood Avenue
Chattanooga, TN 37404-1729

NHC HealthCare, Columbia
101 Walnut Lane
Columbia, TN 38401

NHC HealthCare, Dickson
812 N. Charlotte Street
Dickson, TN 37055

NHC HealthCare, Franklin
216 Fairground Street
Franklin, TN 37064

NHC HealthCare, Hendersonville
370 Old Shackle Island Road
Hendersonville, TN 37075

NHC HealthCare, Hillview
2710 Trotwood Avenue
Columbia, TN 38401

NHC HealthCare, Johnson City
3209 Bristol Hwy.
Johnson City, TN 37601

NHC HealthCare, Knoxville
809 E. Emerald Avenue
Knoxville, TN 37917

NHC HealthCare, Lewisburg
1653 Mooresville Hwy.
Lewisburg, TN 37091

NHC HealthCare, McMinnville
928 Old Smithville Road
McMinnville, TN 37110

                                       5
<PAGE>

NHC HealthCare, Milan
8017 Dogwood Lane
Milan, TN 38358

NHC HealthCare, Oakwood
244 Oakwood Drive
Lewisburg, TN 37091

NHC HealthCare, Pulaski
992 E. College Street
Pulaski, TN 38478

NHC HealthCare, Scott
2380 Buffalo Road
Lawrenceburg, TN 38464

NHC HealthCare, Sequatchie
405 Dell Trail
Dunlap, TN 37327

NHC HealthCare, Smithville
825 Fisher Avenue
Smithville, TN 38068

NHC HealthCare, Somerville
308 Lake Drive
Somerville, TN 38068

NHC HealthCare, Sparta
34 Gracey Street
Sparta, TN 38583

NHC HealthCare, Springfield
608 8th Avenue East
Springfield, TN 37172

Missouri Centers:

NHC HealthCare, Desloge
801 Brim Street
Desloge, MO 63601

NHC HealthCare, Joplin
2700 E. 34th Street
Joplin, MO 64804

                                       6
<PAGE>

NHC HealthCare, Kennett
1120 Falcon Drive
Kennett, MO 63857-0696

NHC HealthCare, Maryland Heights
2920 Fee Fee Road
Maryland Heights, MO 63043

NHC HealthCare, St. Charles
35 Sugar Maple Lane
St. Charles, MO 63303

Florida Centers:

NHC HealthCare, Hudson
7210 Beacon Woods Drive
Hudson, FL 34667

NHC HealthCare, Merritt Island
500 Crockett Blvd.
Merritt Island, FL 32953

NHC HealthCare, Plant City
701 North Wilder Road
Plant City, FL 33566

NHC HealthCare, Stuart
800 SE Central Pkwy.
Stuart, FL 34994

Kentucky Centers:

NHC HealthCare, Glasgow
Homewood Blvd.
Glasgow, KY 42141

NHC HealthCare, Madisonville
419 North Seminary Street
Madisonville, KY 42431

South Carolina Centers:

NHC HealthCare, Anderson
1501 East Greenville Street
Anderson, SC 29621

                                       7
<PAGE>

NHC HealthCare, Greenwood
437 East Cambridge Avenue
Greenwood, SC 29646

NHC HealthCare, Laurens
379 Pinehaven Street Ext.
Laurens, SC 29360-1259

Alabama Centers:

NHC HealthCare, Anniston
2300 Coleman Road
Anniston, AL 36207

NHC HealthCare, Moulton
300 Hospital Street
Moulton, AL 35650

Georgia Center:

NHC HealthCare, Rossville
1425 McFarland Avenue
Rossville, GA 30741

Virginia Center:

NHC HealthCare Bristol
245 North Street
Bristol, VA 24201

Retirement Centers:

Colonial Hill Retirement Center
3207 Bristol Hwy.
Johnson City, TN 37601

Lake St. Charles Retirement Center
45 Honey Locust Lane
St. Charles, MO 63303

Parkwood Retirement Apartments
2700 A Parkwood Avenue
Chattanooga, TN 37404

                                       8

<PAGE>

                                  Schedule A-2

National HealthCare Corporation               12/21/05
Allocation of NHI Rent

<TABLE>
<CAPTION>
                                               Allocation of
                                                 2007 Rent
                                               -------------
<S>                                            <C>
Anderson                                        3,349,719.74
Anniston                                        1,152,192.65
Athens                                            734,407.98
Bristol                                           635,019.65
Chattanooga                                     1,215,050.09
Columbia                                          172,785.15
Desloge                                           179,760.94
Dickson                                         2,645,528.43
Franklin                                          321,726.88
Glasgow                                         1,180,434.81
Greenwood                                         899,691.97
Hendersonville                                    807,860.06
Hillview                                          519,597.79
Johnson City                                      708,580.13
Joplin                                            635,617.43
Kennett                                           367,561.80
Knoxville                                         788,343.12
Laurens                                         1,545,509.57
Lewisburg                                         802,685.74
Madisonville                                      402,937.31
Maryland Heights                                  251,289.76
McMinnville                                     1,134,503.59
Milan                                             881,207.66
Moulton                                           890,546.86
Oakwood                                           461,469.35
Pulaski                                           915,841.10
Rossville                                         606,830.82
Scott                                             333,339.08
Sequatchie                                        742,468.21
Smithville                                        827,233.22
Somerville                                        638,087.76
Sparta                                            227,094.55
Springfield                                       680,871.68
St. Charles                                       100,000.00
Colonial Hill Ret.                                335,208.65
Lake St. Charles                                  848,018.77
Parkwood Ret.                                       8,977.69
Bayonet Point                                   1,325,000.00
Merritt Island                                  1,500,000.00
Parkway                                         1,300,000.00
Plant City                                        627,000.00
                                               -------------
Grand Total                                    33,700,000.00
                                               =============
</TABLE>

                                       9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]