Document:

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                                                                     EXHIBIT 4.1

                              PREMISE SYSTEMS, INC.

                                 2001 Stock Plan

     1.    Purposes of the Plan. The purposes of this 2001 Stock Plan are:
           --------------------

           .    to attract and retain the best available personnel for positions
                of substantial responsibility,

           .    to provide additional incentive to Employees, Directors and
                Consultants, and

           .    to promote the success of the Company's business.

           Options granted under the Plan may be Incentive Stock Options or
Nonstatutory Stock Options, as determined by the Administrator at the time of
grant. Stock Purchase Rights may also be granted under the Plan.

     2.    Definitions. As used herein, the following definitions shall apply:
           -----------

           (a)  "Administrator" means the Board or any of its Committees as
                --------------
shall be administering the Plan, in accordance with Section 4 of the Plan.

           (b)  "Applicable Laws" means the requirements relating to the
                ----------------
administration of stock option plans under U. S. state corporate laws, U.S.
federal and state securities laws, the Code, any stock exchange or quotation
system on which the Common Stock is listed or quoted and the applicable laws of
any foreign country or jurisdiction where Options or Stock Purchase Rights are,
or will be, granted under the Plan.

           (c)  "Board" means the Board of Directors of the Company.
                 -----

           (d)  "Change of Control" means the occurrence of any of the following
                 -----------------
events:

                (i)    Any "person" (as such term is used in Sections 13(d) and
14(d) of the Exchange Act) becomes the "beneficial owner" (as defined in Rule
13d-3 of the Exchange Act), directly or indirectly, of securities of the Company
representing fifty percent (50%) or more of the total voting power represented
by the Company's then outstanding voting securities; or

                (ii)   The consummation of the sale or disposition by the
Company of all or substantially all of the Company's assets; or

                (iii)  The consummation of a merger or consolidation of the
Company with any other corporation, other than 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 entity or its parent) at
least seventy percent (70%) of the total voting power represented by the voting
securities

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of the Company or such surviving entity or its parent outstanding immediately
after such merger or consolidation.

           (e) "Code" means the Internal Revenue Code of 1986, as amended.
                ----

           (f) "Committee" means a committee of Directors appointed by the Board
                ---------
in accordance with Section 4 of the Plan.

           (g) "Common Stock" means the common stock of the Company.
                ------------

           (h) "Company" means Premise Systems, Inc., an Iowa corporation.
                -------

           (i) "Consultant" means any person, including an advisor, engaged by
                ----------
the Company or a Parent or Subsidiary to render services to such entity.

           (j) "Director" means a member of the Board.
                --------

           (k) "Disability" means total and permanent disability as defined in
                ----------
Section 22(e)(3) of the Code.

           (l) "Employee" means any person, including Officers and Directors,
                --------
employed by the Company or any Parent or Subsidiary of the Company. A Service
Provider shall not cease to be an Employee in the case of (i) any leave of
absence approved by the Company or (ii) transfers between locations of the
Company or between the Company, its Parent, any Subsidiary, or any successor.
For purposes of Incentive Stock Options, no such leave may exceed ninety days,
unless reemployment upon expiration of such leave is guaranteed by statute or
contract. If reemployment upon expiration of a leave of absence approved by the
Company is not so guaranteed, on the 181st day of such leave any Incentive Stock
Option held by the Optionee shall cease to be treated as an Incentive Stock
Option and shall be treated for tax purposes as a Nonstatutory Stock Option.
Neither service as a Director nor payment of a director's fee by the Company
shall be sufficient to constitute "employment" by the Company.

           (m) "Exchange Act" means the Securities Exchange Act of 1934, as
                ------------
amended.

           (n) "Fair Market Value" means, as of any date, the value of Common
                -----------------
Stock determined as follows:

               (i) If the Common Stock is listed on any established stock
exchange or a national market system, including without limitation the Nasdaq
National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its
Fair Market Value shall be the closing sales price for such stock (or the
closing bid, if no sales were reported) as quoted on such exchange or system for
the last market trading day prior to the time of determination, as reported in
The Wall Street Journal or such other source as the Administrator deems
reliable;

               (ii) If the Common Stock is regularly quoted by a recognized
securities dealer but selling prices are not reported, the Fair Market Value of
a Share of Common Stock shall be the mean between the high bid and low asked
prices for the Common Stock on the last market

                                                                             -2-

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trading day prior to the day of determination, as reported in The Wall
Street Journal or such other source as the Administrator deems reliable; or

               (iii) In the absence of an established market for the Common
Stock, the Fair Market Value shall be determined in good faith by the
Administrator.

           (o) "Incentive Stock Option" means an Option intended to qualify as
                ----------------------
an incentive stock option within the meaning of Section 422 of the Code and the
regulations promulgated thereunder.

           (p) "Inside Director" means a Director who is an Employee.
                ---------------

           (q) "Nonstatutory Stock Option" means an Option not intended to
                -------------------------
qualify as an Incentive Stock Option.

           (r) "Notice of Grant" means a written or electronic notice evidencing
                ---------------
certain times and conditions of an individual Option or Stock Purchase Right
grant. The Notice of Grant is part of the Option Agreement.

           (s) "Officer" means a person who is an officer of the Company within
                -------
the meaning of Section 16 of the Exchange Act and the rules and regulations
promulgated thereunder.

           (t) "Option" means a stock option granted pursuant to the Plan.
                ------

           (u) "Option Agreement" means an agreement between the Company and an
                ----------------
Optionee evidencing the terms and conditions of an individual Option grant. The
Option Agreement is subject to the terms and conditions of the Plan.

           (v) "Option Exchange Program" means a program whereby outstanding
                -----------------------
Options are surrendered in exchange for Options with a lower exercise price.

           (w) "Optioned Stock" means the Common Stock subject to an Option or
                --------------
Stock Purchase Right.

           (x) "Optionee" means the holder of an outstanding Option or Stock
                --------
Purchase Right granted under the Plan.

           (y) "Outside Director" means a Director who is not an Employee.
                ----------------

           (z) "Plan" means this 2001 Stock Option Plan, as amended and
                ----
restated.

           (aa)"Restricted Stock" means shares of Common Stock acquired
                 ----------------
pursuant to a grant of Stock Purchase Rights under Section 11 of the Plan.

           (bb)"Restricted Stock Purchase Agreement" means a written agreement
                 -----------------------------------
between the Company and the Optionee evidencing the terms and restrictions
applying to stock purchased

                                                                             -3-

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under a Stock Purchase Right. The Restricted Stock Purchase Agreement is
subject to the terms and conditions of the Plan and the Notice of Grant.

         (cc) "Rule 16b-3" means Rule 16b-3 of the Exchange Act or any successor
               ----------
to Rule 16b-3, as in effect when discretion is being exercised with respect to
the Plan.

         (dd)  "Section 16(b)" means Section 16(b) of the Exchange Act.
                -------------

         (ee)  "Service Provider" means an Employee, Director or Consultant.
                ----------------

         (ff)  "Share" means a share of the Common Stock, as adjusted in
                -----
accordance with Section 14 of the Plan.

         (gg)  "Stock Purchase Right" means the right to purchase Common Stock
                --------------------
pursuant to Section 11 of the Plan, as evidenced by a Notice of Grant.

         (hh)  "Subsidiary" means a "subsidiary corporation", whether now or
                ----------
hereafter existing, as defined in Section 424(f) of the Code.

     3.  Stock Subject to the Plan. Subject to the provisions of Section 14 of
         -------------------------
the Plan, the maximum aggregate number of Shares which may be optioned and sold
under the Plan is 2,000,000 Shares.

         If an Option or Stock Purchase Right expires or becomes unexercisable
without having been exercised in full, or is surrendered pursuant to an Option
Exchange Program, the unpurchased Shares which were subject thereto shall become
available for future grant or sale under the Plan (unless the Plan has
terminated); provided, however, that Shares that have actually been issued under
the Plan, whether upon exercise of an Option or Right, shall not be returned to
the Plan and shall not become available for future distribution under the Plan,
except that if Shares of Restricted Stock are repurchased by the Company at
their original purchase price, such Shares shall become available for future
grant under the Plan.

     4.  Administration of the Plan.

         (a) Procedure.
             ---------

               (i) Multiple Administrative Bodies. The Plan may be administered
                   ------------------------------
by different Committees with respect to different groups of Service Providers.

               (ii) Section 162(m). To the extent that the Administrator
                    --------------
determines it to be desirable to qualify Options granted hereunder as
"performance-based compensation" within the meaning of Section 162(m) of the
Code, the Plan shall be administered by a Committee of two or more "outside
directors" within the meaning of Section 162(m) of the Code.

               (iii) Rule 16b-3. To the extent desirable to qualify transactions
                     ----------
hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder
shall be structured to satisfy the requirements for exemption under Rule 16b-3.

                                                                             -4-

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              (iv)    Other Administration. Other than as provided above, the
                      --------------------
Plan shall be administered by (A) the Board or (B) a Committee, which committee
shall be constituted to satisfy Applicable Laws.

       (b)    Powers of the Administrator. Subject to the provisions of the
              ---------------------------
Plan, and in the case of a Committee, subject to the specific duties delegated
by the Board to such Committee, the Administrator shall have the authority, in
its discretion:

               (i)    to determine the Fair Market Value;

               (ii)   to select the Service Providers to whom Options and Stock
Purchase Rights may be granted hereunder;

               (iii)  to determine the number of shares of Common Stock to be
covered by each Option and Stock Purchase Right granted hereunder;

               (iv)   to approve forms of agreement for use under the Plan;

               (v)    to determine the terms and conditions, not inconsistent
with the terms of the Plan, of any Option or Stock Purchase Right granted
hereunder. Such terms and conditions include, but are not limited to, the
exercise price, the time or times when Options or Stock Purchase Rights may be
exercised (which may be based on performance criteria), any vesting acceleration
or waiver of forfeiture restrictions, and any restriction or limitation
regarding any Option or Stock Purchase Right or the shares of Common Stock
relating thereto, based in each case on such factors as the Administrator, in
its sole discretion, shall determine;

               (vi)   to reduce the exercise price of any Option or Stock
Purchase Right to the then current Fair Market Value if the Fair Market Value of
the Common Stock covered by such Option or Stock Purchase Right shall have
declined since the date the Option or Stock Purchase Right was granted;

               (vii)  to institute an Option Exchange Program;

               (viii) to construe and interpret the terms of the Plan and awards
granted pursuant to the Plan;

               (ix)   to prescribe, amend and rescind rules and regulations
relating to the Plan, including rules and regulations relating to sub-plans
established for the purpose of qualifying for preferred tax treatment under
foreign tax laws;

               (x)    to modify or amend each Option or Stock Purchase Right
(subject to Section 15(c) of the Plan), including the discretionary authority to
extend the post-termination exercisability period of Options longer than is
otherwise provided for in the Plan;

               (xi)   to allow Optionees to satisfy withholding tax obligations
by electing to have the Company withhold from the Shares to be issued upon
exercise of an Option or Stock Purchase Right that number of Shares having a
Fair Market Value equal to the amount required to be

                                                                             -5-

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withheld. The Fair Market Value of the Shares to be withheld shall be determined
on the date that the amount of tax to be withheld is to be determined. All
elections by an Optionee to have Shares withheld for this purpose shall be made
in such form and under such conditions as the Administrator may deem necessary
or advisable;

               (xii) to authorize any person to execute on behalf of the Company
any instrument required to effect the grant of an Option or Stock Purchase Right
previously granted by the Administrator;

               (xiii) to make all other determinations deemed necessary or
advisable for administering the Plan.

        (c) Effect of Administrator's Decision. The Administrator's decisions,
            ----------------------------------
determinations and interpretations shall be final and binding on all Optionees
and any other holders of Options or Stock Purchase Rights.

     5. Eligibility. Nonstatutory Stock Options and Stock Purchase Rights may be
        -----------
granted to Service Providers. Incentive Stock Options may be granted only to
Employees.

     6. Limitations.
        -----------

        (a) Each Option shall be designated in the Option Agreement as either an
Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding
such designation, to the extent that the aggregate Fair Market Value of the
Shares with respect to which Incentive Stock Options are exercisable for the
first time by the Optionee during any calendar year (under all plans of the
Company and any Parent or Subsidiary) exceeds $100,000, such Options shall be
treated as Nonstatutory Stock Options. For purposes of this Section 6(a),
Incentive Stock Options shall be taken into account in the order in which they
were granted. The Fair Market Value of the Shares shall be determined as of the
time the Option with respect to such Shares is granted.

        (b) Neither the Plan nor any Option or Stock Purchase Right shall confer
upon an Optionee any right with respect to continuing the Optionee's
relationship as a Service Provider with the Company, nor shall they interfere in
any way with the Optionee's right or the Company's right to terminate such
relationship at any time, with or without cause.

        (c) The following limitations shall apply to grants of Options:

             (i)   No Service Provider shall be granted, in any fiscal year of
the Company, Options to purchase more than 300,000 Shares.

             (ii)  In connection with his or her initial service, a Service
Provider may be granted Options to purchase up to an additional 100,000 Shares,
which shall not count against the limit, set forth in subsection (i) above.

             (iii) The foregoing limitations shall be adjusted proportionately
in connection with any change in the Company's capitalization as described in
Section 14.

                                                                             -6-

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             (iv) If an Option is cancelled in the same fiscal year of the
Company in which it was granted (other than in connection with a transaction
described in Section 14), the cancelled Option will be counted against the
limits set forth in subsections (i) and (ii) above. For this purpose, if the
exercise price of an Option is reduced, the transaction will be treated as a
cancellation of the Option and the grant of a new Option.

     7. Term of Plan. Subject to Section 20 of the Plan, the Plan shall become
        ------------
effective upon its adoption by the Board. It shall continue in effect for a term
of ten (10) years unless terminated earlier under Section 15 of the Plan.

     8. Term of Option. The term of each Option shall be stated in the Option
        --------------
Agreement. In the case of an Incentive Stock Option, the term shall be ten (10)
years from the date of grant or such shorter term as may be provided in the
Option Agreement. Moreover, in the case of an Incentive Stock Option granted to
an Optionee who, at the time the Incentive Stock Option is granted, owns stock
representing more than ten percent (10%) of the total combined voting power of
all classes of stock of the Company or any Parent or Subsidiary, the term of the
Incentive Stock Option shall be five (5) years from the date of grant or such
shorter term as may be provided in the Option Agreement.

     9. Option Exercise Price and Consideration.
        ---------------------------------------

        (a)  Exercise Price. The per share exercise price for the Shares
             --------------
to be issued pursuant to exercise of an Option shall be determined by the
Administrator, subject to the following:

             (i)    In the case of an Incentive Stock Option

                    (A) granted to an Employee who, at the time the Incentive
Stock Option is granted, owns stock representing more than ten percent (10%) of
the voting power of all classes of stock of the Company or any Parent or
Subsidiary, the per Share exercise price shall be no less than 110% of the
Fair Market Value per Share on the date of grant.

                    (B) granted to any Employee other than an Employee described
in paragraph (A) immediately above, the per Share exercise price shall be no
less than 100% of the Fair Market Value per Share on the date of grant.

             (ii)   In the case of a Nonstatutory Stock Option, the per Share
exercise price shall be determined by the Administrator. In the case of a
Nonstatutory Stock Option intended to qualify as "performance-based
compensation" within the meaning of Section 162(m) of the Code, the per Share
exercise price shall be no less than 100% of the Fair Market Value per Share on
the date of grant.

             (iii)  Notwithstanding the foregoing, Options may be granted with a
per Share exercise price of less than 100% of the Fair Market Value per Share
on the date of grant pursuant to a merger or other corporate transaction.

                                                                             -7-

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               (b)   Waiting Period and Exercise Dates. At the time an Option is
                     ---------------------------------
granted, the Administrator shall fix the period within which the Option may be
exercised and shall determine any conditions that must be satisfied before the
Option may be exercised.

               (c)   Form of Consideration. The Administrator shall determine
                     ---------------------
the acceptable form of consideration for exercising an Option, including the
method of payment. In the case of an Incentive Stock Option, the Administrator
shall determine the acceptable form of consideration at the time of grant. Such
consideration may consist entirely of:

                      (i)     cash;

                      (ii)    check;

                      (iii)   promissory note;

                      (iv)    other Shares which (A) in the case of Shares
acquired upon exercise of an option, have been owned by the Optionee for more
than six months on the date of surrender, and (B) have a Fair Market Value on
the date of surrender equal to the aggregate exercise price of the Shares as to
which said Option shall be exercised;

                      (v)     consideration received by the Company under a
cashless exercise program implemented by the Company in connection with the
Plan;

                      (vi)    a reduction in the amount of any Company liability
to the Optionee, including any liability attributable to the Optionee's
participation in any Company-sponsored deferred compensation program or
arrangement;

                      (vii)   any combination of the foregoing methods of
payment; or

                      (viii)  such other consideration and method of payment for
the issuance of Shares to the extent permitted by Applicable Laws.

     10.       Exercise of Option.
               ------------------

               (a)    Procedure for Exercise; Rights as a Shareholder. Any
                      -----------------------------------------------
Option granted hereunder shall be exercisable according to the terms of the Plan
and at such times and under such conditions as determined by the Administrator
and set forth in the Option Agreement. Unless the Administrator provides
otherwise, vesting of Options granted hereunder shall be tolled during any
unpaid leave of absence. An Option may not be exercised for a fraction of a
Share.

                      An Option shall be deemed exercised when the Company
receives: (i) written or electronic notice of exercise (in accordance with the
Option Agreement) from the person entitled to exercise the Option, and (ii) full
payment for the Shares with respect to which the Option is exercised. Full
payment may consist of any consideration and method of payment authorized by the
Administrator and permitted by the Option Agreement and the Plan. Shares issued
upon exercise of an Option shall be issued in the name of the Optionee or, if
requested by the Optionee, in the name of the Optionee and his or her spouse.
Until the Shares are issued (as evidenced by the appropriate

                                                                             -8-

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entry on the books of the Company or of a duly authorized transfer agent of the
Company), no right to vote or receive dividends or any other rights as a
shareholder shall exist with respect to the Optioned Stock, notwithstanding the
exercise of the Option. The Company shall issue (or cause to be issued) such
Shares promptly after the Option is exercised. No adjustment will be made for a
dividend or other right for which the record date is prior to the date the
Shares are issued, except as provided in Section 13 of the Plan.

               Exercising an Option in any manner shall decrease the number of
Shares thereafter available, both for purposes of the Plan and for sale under
the Option, by the number of Shares as to which the Option is exercised.

          (b)  Termination of Relationship as a Service Provider. Subject to
               -------------------------------------------------
Section 14, if an Optionee ceases to be a Service Provider (but not in the event
of an Optionee's change of status from Employee to Consultant (in which case an
Employee's Incentive Stock Option shall automatically convert to a Nonstatutory
Stock Option on the ninety-first (91st) day following such change of status) or
from Consultant to Employee), such Optionee may, but only within such period of
time as is specified in the Option Agreement (but in no event later than the
expiration date of the term of such Option as set forth in the Option
Agreement), exercise his or her Option to the extent that Optionee was entitled
to exercise it at the date of such termination. In the absence of a specified
time in the Option Agreement, the Option shall remain exercisable for three (3)
months following the Optionee's termination. If, on the date of termination, the
Optionee is not vested as to his or her entire Option, the Shares covered by the
unvested portion of the Option shall revert to the Plan. If, after termination,
the Optionee does not exercise his or her Option within the time specified by
the Administrator, the Option shall terminate, and the Shares covered by such
Option shall revert to the Plan.

          (c)  Disability of Optionee. If an Optionee ceases to be a Service
               ----------------------
Provider as a result of the Optionee's Disability, the Optionee may, but only
within twelve (12) months from the date of such termination (and in no event
later than the expiration date of the term of such Option as set forth in the
Option Agreement), exercise his or her Option to the extent that the Option is
vested on the date of termination. If, on the date of termination, the Optionee
is not vested as to his or her entire Option, the Shares covered by the unvested
portion of the Option shall revert to the Plan. If, after termination, the
Optionee does not exercise his or her Option within the time specified herein,
the Option shall terminate, and the Shares covered by such Option shall revert
to the Plan.

          (d)  Death of Optionee. If an Optionee dies while a Service Provider,
               -----------------
the Option may be exercised at any time within twelve (12) months following the
date of death (but in no event later than the expiration of the term of such
Option as set forth in the Notice of Grant), by the Optionee's estate or by a
person who acquires the right to exercise the Option by bequest or inheritance,
but only to the extent that the Option is vested on the date of death. If, at
the time of death, the Optionee is not vested as to his or her entire Option,
the Shares covered by the unvested portion of the Option shall immediately
revert to the Plan. The Option may be exercised by the executor or administrator
of the Optionee's estate or, if none, by the person(s) entitled to exercise the
Option under the Optionee's will or the laws of descent or distribution. If the
Option is not so exercised within the time specified herein, the Option shall
terminate, and the Shares covered by such Option shall revert to the Plan.

                                                                             -9-

<PAGE>

          (e)  Buyout Provisions. The Administrator may at any time offer to buy
               -----------------
out for a payment in cash or Shares an Option previously granted based on such
terms and conditions as the Administrator shall establish and communicate to the
Optionee at the time that such offer is made.

     11.  Stock Purchase Rights.
          ---------------------

          (a)  Rights to Purchase. Stock Purchase Rights may be issued either
               ------------------
alone, in addition to, or in tandem with other awards granted under the Plan
and/or cash awards made outside of the Plan. After the Administrator determines
that it will offer Stock Purchase Rights under the Plan, it shall advise the
offeree in writing or electronically, by means of a Notice of Grant, of the
terms, conditions and restrictions related to the offer, including the number of
Shares that the offeree shall be entitled to purchase, the price to be paid, and
the time within which the offeree must accept such offer. The offer shall be
accepted by execution of a Restricted Stock Purchase Agreement in the form
determined by the Administrator.

          (b)  Repurchase Option. Unless the Administrator determines otherwise,
               -----------------
the Restricted Stock Purchase Agreement shall grant the Company a repurchase
option exercisable upon the voluntary or involuntary termination of the
purchaser's service with the Company for any reason (including death or
Disability). The purchase price for Shares repurchased pursuant to the
Restricted Stock Purchase Agreement shall be the original price paid by the
purchaser and may be paid by cancellation of any indebtedness of the purchaser
to the Company. The repurchase option shall lapse at a rate determined by the
Administrator.

          (c)  Other Provisions. The Restricted Stock Purchase Agreement shall
               ----------------
contain such other terms, provisions and conditions not inconsistent with the
Plan as may be determined by the Administrator in its sole discretion.

          (d)  Rights as a Shareholder. Once the Stock Purchase Right is
               -----------------------
exercised, the purchaser shall have the rights equivalent to those of a
shareholder, and shall be a shareholder when his or her purchase is entered upon
the records of the duly authorized transfer agent of the Company. No adjustment
will be made for a dividend or other right for which the record date is prior to
the date the Stock Purchase Right is exercised, except as provided in Section 13
of the Plan.

     12.  Non-Transferability of Options and Stock Purchase Rights. Unless
          --------------------------------------------------------
determined otherwise by the Administrator, an Option or Stock Purchase Right may
not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any
manner other than by will or by the laws of descent or distribution and may be
exercised, during the lifetime of the Optionee, only by the Optionee. If the
Administrator makes an Option or Stock Purchase Right transferable, such Option
or Stock Purchase Right shall contain such additional terms and conditions as
the Administrator deems appropriate.

     13.  Adjustments Upon Changes in Capitalization, Merger or Asset Sale.
          ----------------------------------------------------------------

          (a)  Changes in Capitalization. Subject to any required action by the
               -------------------------
stockholders of the Company, the number of shares of Common Stock covered by
each outstanding Option or Stock Purchase Right, and the number of shares of
Common Stock which have been authorized for

                                                                            -10-

<PAGE>

issuance under the Plan but as to which no Options or Stock Purchase Rights have
yet been granted or which have been returned to the Plan upon cancellation or
expiration of an Option or Stock Purchase Right, as well as the price per share
of Common Stock covered by each such outstanding Option or Stock Purchase Right,
shall be proportionately adjusted for any increase or decrease in the number of
issued shares of Common Stock resulting from a stock split, reverse stock split,
stock dividend, combination or reclassification of the Common Stock, or any
other increase or decrease in the number of issued shares of Common Stock
effected without receipt of consideration by the Company. The conversion of any
convertible securities of the Company shall not be deemed to have been "effected
without receipt of consideration." Such adjustment shall be made by the Board,
whose determination in that respect shall be final, binding and conclusive.
Except as expressly provided herein, no issuance by the Company of shares of
stock of any class, or securities convertible into shares of stock of any class,
shall affect, and no adjustment by reason thereof shall be made with respect to,
the number or price of shares of Common Stock subject to an Option or Stock
Purchase Right.

          (b)  Dissolution or Liquidation. In the event of the proposed
               --------------------------
dissolution or liquidation of the Company, the Administrator shall notify each
Optionee as soon as practicable prior to the effective date of such proposed
transaction. The Administrator in its discretion may provide for an Optionee to
have the right to exercise his or her Option or Stock Purchase Right until
fifteen (15) days prior to such transaction as to all of the Optioned Stock
covered thereby, including Shares as to which the Option or Stock Purchase Right
would not otherwise be exercisable. In addition, the Administrator may provide
that any Company repurchase option applicable to any Shares purchased upon
exercise of an Option or Stock Purchase Right shall lapse as to all such Shares,
provided the proposed dissolution or liquidation takes place at the time and in
the manner contemplated. To the extent it has not been previously exercised, an
Option or Stock Purchase Right will terminate immediately prior to the
consummation of such proposed action.

          (c)  Merger or Asset Sale. Subject to Section 14 below, in the event
               --------------------
of a merger of the Company with or into another corporation, or the sale of
substantially all of the assets of the Company (a "Merger"), each outstanding
Option and Stock Purchase Right shall be assumed or an equivalent option or
right substituted by the successor corporation or a Parent or Subsidiary of the
successor corporation (the "Successor Corporation"). In the event that the
Successor Corporation refuses to assume or substitute for the Option or Stock
Purchase Right, the Optionee shall fully vest in and have the right to exercise
the Option or Stock Purchase Right as to all of the Optioned Stock, including
Shares as to which it would not otherwise be vested or exercisable. If an Option
or Stock Purchase Right becomes fully vested and exercisable in lieu of
assumption or substitution in the event of a Merger, the Administrator shall
notify the Optionee in writing or electronically that the Option or Stock
Purchase Right shall be fully vested and exercisable for a period of fifteen
(15) days from the date of such notice, and the Option or Stock Purchase Right
shall terminate upon the expiration of such period.

     14.  Change of Control. In the event of a Change of Control, each
          -----------------
outstanding Option granted to an Outside Director pursuant to Section 13 shall
vest and become exercisable in full as to all of the Optioned Stock, including
Shares as to which the Outside Director would not otherwise be vested or
exercisable. If an Option becomes fully vested and exercisable as provided in
this paragraph, the Administrator shall notify the Optionee in writing or
electronically that the Option

                                                                            -11-

<PAGE>

shall be fully vested and exercisable for a period of fifteen (15) days from the
date of such notice, and the Option shall terminate upon the expiration of such
period.

     15.  Date of Grant. The date of grant of an Option or Stock Purchase Right
          -------------
shall be, for all purposes, the date on which the Administrator makes the
determination granting such Option or Stock Purchase Right, or such other later
date as is determined by the Administrator. Notice of the determination shall be
provided to each Optionee within a reasonable time after the date of such grant.

     16.  Amendment and Termination of the Plan.
          -------------------------------------

          (a)  Amendment and Termination. The Board may at any time amend,
               -------------------------
alter, suspend or terminate the Plan.

          (b)  Shareholder Approval. The Company shall obtain shareholder
               --------------------
approval of any Plan amendment to the extent necessary and desirable to comply
with Applicable Laws.

          (c)  Effect of Amendment or Termination. No amendment, alteration,
               ----------------------------------
suspension or termination of the Plan shall impair the rights of any Optionee,
unless mutually agreed otherwise between the Optionee and the Administrator,
which agreement must be in writing and signed by the Optionee and the Company.
Termination of the Plan shall not affect the Administrator's ability to exercise
the powers granted to it hereunder with respect to Options granted under the
Plan prior to the date of such termination.

     17.  Conditions Upon Issuance of Shares.
          ----------------------------------

          (a)  Legal Compliance. Shares shall not be issued pursuant to the
               ----------------
exercise of an Option or Stock Purchase Right unless the exercise of such Option
or Stock Purchase Right and the issuance and delivery of such Shares shall
comply with Applicable Laws and shall be further subject to the approval of
counsel for the Company with respect to such compliance.

          (b)  Investment Representations. As a condition to the exercise of an
               --------------------------
Option or Stock Purchase Right, the Company may require the person exercising
such Option or Stock Purchase Right to represent and warrant at the time of any
such exercise that the Shares are being purchased only for investment and
without any present intention to sell or distribute such Shares if, in the
opinion of counsel for the Company, such a representation is required.

     18.  Inability to Obtain Authority. The inability of the Company to obtain
          -----------------------------
authority from any regulatory body having jurisdiction, which authority is
deemed by the Company's counsel to be necessary to the lawful issuance and sale
of any Shares hereunder, shall relieve the Company of any liability in respect
of the failure to issue or sell such Shares as to which such requisite authority
shall not have been obtained.

     19.  Reservation of Shares. The Company, during the term of this Plan, will
          ---------------------
at all times reserve and keep available such number of Shares as shall be
sufficient to satisfy the requirements of the Plan.

                                                                            -12-

<PAGE>

     20.  Shareholder Approval. The Plan shall be subject to approval by the
          --------------------
shareholders of the Company within twelve (12) months after the date the Plan is
adopted. Such shareholder approval shall be obtained in the manner and to the
degree required under Applicable Laws.

                                                                            -13-LEASE AGREEMENT

     THIS LEASE AGREEMENT, made this 29th day of September, 2000, by and
between CLINCH MEMORIAL HOSPITAL, a Georgia corporation, located at 524
Carswell Street, Homerville, GA 31634 (hereinafter referred to as "Lessor")
and DIALYSIS CORPORATION OF AMERICA, a Florida corporation having an office
at 27 Miller Street, Lemoyne, PA 17043 (hereinafter referred to as "Lessee").

                              1. PREMISES
                                 --------

     Lessor, in consideration of the rents and covenants hereinafter
mentioned, does demise and lease unto Lessee, all that certain space
consisting of 1680 square feet of rentable space (the "Space"), with
specifications for the Space attached as Exhibit A, within Clinch Memorial
Hospital, located at 524 Carswell Street, Homerville, GA (the "Hospital"),
to be used for an out-patient medical and dialysis center and for related
offices, medical and other, as well as storage purposes ("Use").

                               2. TERM
                                  ----

     This Lease is for the term of two (2) years, commencing on the
Commencement Date defined below (the "Term").  In the event this Lease
commences on a day other than the first day of the month, then the rent
shall be paid pro rata for such fractional month.

                       3. COMMENCEMENT OF TERMS
                          ---------------------

     3.1   Commencement of Rent
           --------------------

     The Term and the payment of rent shall commence on October 16, 2000 (the
"Commencement Date").

     3.2   Renovation
           ----------

     All alterations and renovations of the Space shall be the responsibility
of the Lessee; provided, Lessor shall accommodate and shall not interfere with
Lessee's contractors with respect to such alterations and renovations.

                             4. RENT
                                ----

     Lessee agrees to pay as rent to Lessor for the Use of the Space during
the Term $10.75 per square foot or eighteen thousand sixty and 00/100
($18,060.00) Dollars per year ("Rent") to be paid in monthly installments of
one thousand five hundred five and 00/100 ($1,505.00) Dollars, payable
monthly in advance on the due date, which is the first day of each calendar
month during the Term, allowing ten (10) day check processing time.  Lease
payment is considered to have been received if payment has been postmarked
by the United States Postal Service on or prior to the above referenced date.

     In the event the Commencement Date falls on a date later than the first
day of the month, the Lessee shall pay a pro-rated rent for said partial month.

<PAGE>

     Lessor grants to Lessee a ten percent (10%) discount on lease payments
should Lessee choose to make said payments prior to November 1st of each
lease year.  This payment, if made in advance and in full, would cover
Lessee's payment for a full twelve (12) months.  Should Lessee choose this
option, Lessee shall pay Lessor sixteen thousand two hundred and fifty-four
and 00/100 ($16,254.00) dollars prior to November 1st to cover twelve (12)
months lease.

             5. OPERATING RESPONSIBILITIES OF THE LESSOR
                ----------------------------------------

     Lessor shall be responsible for the following during the Term:

     (i)   To keep and maintain in good, clean, safe and sanitary order,
condition and repair the roof, exterior walls, structure, foundation, floor
slabs, paving and outside walks and other structural components of the
Hospital, and surrounding grounds, and all common areas within and without
the Hospital;

     (ii)  To keep and maintain in good and sanitary order, condition and
repair the plumbing, electrical and gas components leading into and the
overall plumbing, electrical and gas components of the Hospital;

     (iii) To keep and maintain in good and sanitary order, condition and
repair, the parking areas;

     (iv)  To handle in an expeditious manner the snow and ice removal from
the Hospital, all parking areas, and walk-ways leading up to the Hospital;

     (v)   To use diligence in obtaining all necessary permits and licenses
from any and all regulatory agencies for the continuous operation of the
Hospital, which will comply with all safety, health and other governmental
codes and regulations.  Lessor warrants to Lessee that the Hospital is
located in an area which is zoned for the Use contemplated in this Lease.
In the event it has been determined that this warranty has been violated,
then it shall be the obligation of Lessor to promptly, at Lessor's sole cost
and expense, rectify such violations;

     (vi)  To provide trash dumpsters in close proximity to the Hospital of
sufficient size and capacity to handle the daily containment and removal of
trash from the Hospital; provided however, that Lessee shall be responsible
at its sole cost and expense for the proper containment and disposal of all
medical refuse;

     (vii) To provide an exterior walk and entrance way, in such a manner
that is mutually agreed upon, so the Space is easily accessible for the
delivery of supplies and the entrance or exit of non-ambulatory patients of
Lessee;

     (viii) To permit Lessee's installation of interior and exterior signs
identifying the Lessee and its business, such signs to be reasonable in
number, size and design and approved by Lessor prior to the installation;

     The parties, to the best of their abilities, will endeavor to maintain
their separate identities.

     (ix)  To provide, pay for and maintain utilities and services, in
particular sufficient water and electric; Lessee shall be responsible for all
of its telephone usage and costs and the installation of its telephone lines
and equipment;

<PAGE>

     (x)   To pay all real estate, sales, use, licenses, income and other
taxes with respect to the Hospital and this Lease.

              6. OPERATING RESPONSIBILITIES OF LESSEE
                 ------------------------------------

     Lessee shall be responsible for the following during the Term:

     (i)   To make and pay for all necessary alterations and improvements to
the Space, which Lessee has the right to do for Lessee's own purposes, which
shall be made at Lessee's expense; Lessee may remove furniture, fixtures,
laboratory and other equipment and movable improvements installed within the
Space at any time, including machinery and equipment affixed either to the
Space or to the Hospital; Lessee shall promptly repair any damage to the
Space and the Hospital as a result of such removal, other than normal wear
and tear;

     (ii)  Lessee shall not permit any mechanic's liens, or similar liens, to
remain upon the Hospital or the Space for labor and material furnished to
Lessee or claimed to have been furnished to Lessee in connection with work of
any character performed or claimed to have been performed at the direction of
Lessee and shall cause any such lien to be released and an instrument
evidencing discharge of same to be recorded forthwith without any cost to
Lessor.  Lessee shall indemnify and save Lessor harmless from all injury,
loss, claims, liens or damage to any person or property occasioned by or
arising from such work.  If Lessor incurs any costs and expenses, including
reasonable attorney's fees, then Lessee shall pay the Lessor that sum so
incurred as additional rent;

     (iii) To maintain the Space in good condition; and

     (iv)  To return the Space in good condition and repair, subject to
normal wear and tear, at the end of the Term; provided, the Lessor shall
have the option (1) to keep any of the improvements and additions made by
the Lessee, without any obligation to compensate Lessee; or (2) require
Lessee, at Lessee's expense, to remove any such Lessee improvements and
additions, and repair any resulting damages to the Hospital in accordance
with the appropriate National Fire Protection Association Codes and National
Electrical Codes.

     (v)   Lessee shall use the Space for the operation of a dialysis clinic
or center.  Any other use of the Space shall be considered a violation of
this Lease unless written permission is granted by Lessor and shall be
grounds for termination of the Lease by Lessor.

                       7. ASSIGNING OR SUBLETTING BY LESSEE
                          ---------------------------------

     Lessee shall have the privilege of assigning or subletting the Space,
after first obtaining written consent of Lessor.

                         8. RESPONSIBILITY OF LESSEE
                            ------------------------

     All damages or injuries done to the Space by Lessee and/or Lessee's
servants, agents, employees, patients, and individuals for whom Lessee is
responsible shall be repaired by Lessee at its expense, exclusive of
ordinary wear and tear, or except as the result, directly or indirectly, of
Lessor's failure to maintain the Hospital and the Space in accordance with
the provisions of this Lease, or except for the negligence of Lessor, its
tenants and/or their respective servants, agents, invitees or employees.
Lessee covenants and agrees to make such repairs upon thirty (30) days'
written notice given to Lessee by Lessor, and if Lessee shall thereafter
neglect to make said repairs or commence to timely make the same, Lessor
shall have the right to make such repairs at the reasonable expense and cost

<PAGE>

of Lessee, provided Lessor gives Lessee thirty (30) days written notice that
Lessor is going to cure the damage or injury and charge the same to Lessee,
and the amount thereof may be collected as additional rent accruing for the
month following the date of said repair.

                          9. FIRE OR CASUALTY
                             ----------------

     In the event that the Hospital or the Space shall be damaged by fire or
other casualty or happening, Lessor shall maintain the right to terminate
this lease should it determine that said damages exceed the benefit, in its
determination, of repairing the space for the Lessee's continued occupancy.
In this case, Lessor shall give Lessee sixty (60) days notice of its
intentions in writing.

                   10. LESSOR'S ACCESS AND INSPECTION
                       ------------------------------

     The Lessor, its employees, agents and servants may at reasonable times,
with reasonable notice, or in emergency situations, enter all parts of the
Space; to inspect the same; to enforce or carry out any provision of the
Lease; to make repairs and alterations as Lessor is required or should elect
to do; and within 120 days of expiration of the Term, to show the Space to
others.

                          11. INDEMNIFICATION
                              ---------------

     Except for the negligence of Lessor, its agents, employees or contractors,
and to the extent permitted by law, Lessee agrees to indemnify, defend and
hold harmless Lessor, and Lessor's agents, employees and contractors, from and
against any and all losses, liabilities, damages, costs and expenses
(including reasonable attorneys' fees) resulting from claims by third
parties for injuries to any person and damage to or theft or misappropriation
or loss of property occurring in or about the Hospital and arising from the
use and occupancy of the Space or from any activity, work, or thing done,
permitted or suffered by Lessee or due to any other act or omission of Lessee,
its subtenants, assignees, invitees, employees, contractors and agents in or
about the Space.  The furnishing of insurance required hereunder shall not be
deemed to limit Lessee's obligations under this Section 11.

                          12. EVENTS OF DEFAULT
                              -----------------

     Each of the following events shall be an event of default ("Event of
Default") by Lessee under this Lease:

     (i)   Lessee shall fail to pay any installment of Rent or any other
payment required herein when due, and such failure shall continue for a
period of 10 days after written notice of such default provided to Lessee
by Lessor.  Notification by means of certified United States Postal Service
from Lessor to Lessee at the address included in this shall constitute
official notification;

     (ii)  Lessee shall (A) make a general assignment for the benefit of
creditors; (B) commence any case, proceeding or other action seeking to have
an order for relief entered on its behalf as a debtor or to adjudicate it a
bankrupt or insolvent, or seeking reorganization, arrangement, adjustment,
liquidation, dissolution or composition of it or its debts or seeking
appointment of a receiver, trustee, custodian or other similar official for
it or for all or of any substantial part of its property (collectively a
"proceeding for relief"); (C) become the subject of any proceeding for
relief which is not dismissed within 60 days of its filing or entry; or
(D) be dissolved or otherwise fail to maintain its legal existence;

<PAGE>

     (iii) Any insurance required to be maintained by Lessee pursuant to this
Lease shall be canceled or terminated or shall expire or shall be materially
reduced or changed, except, in each case, as permitted in this Lease;

     (iv)  Lessee shall not occupy or shall vacate the Space or shall fail to
continuously operate its business at the Space for the Use during the Term,
whether or not Lessee is in monetary or other default under this Lease; or

     (v)   Lessee shall fail to materially comply with any provision of this
Lease other than those specifically referred to in this Section 12, and except
as otherwise expressly provided herein, such default shall continue for more
than 30 days after Lessor shall have given Lessee written notice of such
default.

                         13. REMEDIES OF LESSOR
                             ------------------

     Upon each occurrence of an Event of Default, Lessor shall have all
remedies allowed by law including the right to terminate this lease and
retake possession of the space.

                         14. REMEDIES OF LESSEE
                             ------------------

     In the event of a default under the terms, covenants or conditions of
this Lease on the part of the Lessor which shall include but not be limited
to unreasonably withholding consents, failure to maintain facilities for
the introduction of water, gas, and electric into the Space, failure to
maintain the Hospital and the Space as required herein, failure to use due
care with respect to the persons and property of Lessee, failure of Lessor's
warranties as to the good operating condition of the services to the Space,
and otherwise interfering with, whether negligently or intentionally, the
business of Lessee and its peaceable and quiet enjoyment of the Space for
the Term, Lessee shall notify Lessor in writing of said default and Lessor
shall have thirty (30) days to cure or commence to cure said default;
provided that if the nature of the default is such that it cannot be
reasonably cured within said thirty (30) days, Lessor shall not be deemed to
be in default if it shall commence performance within said thirty (30) day
period and diligently proceeds to so cure the default thereafter.  If Lessor
shall not cure or commence to cure the said default within the thirty (30)
day period, Lessee has the option to either terminate this Lease and vacate
the Space immediately without any further liability under the Lease and take
whatever other lawful remedies that may be available to it upon such default,
or cure the default and at Lessee's option deduct reasonable costs and
expenses for such cure from Rent or any other amounts accrued hereunder due,
or otherwise be immediately reimbursed by Lessor.

     Should there be a need to make any emergency repairs which were otherwise
the responsibility of the Lessor as provided in this Lease, but due to the
emergent circumstances, Lessee makes such repairs, the cost thereof shall be a
deduction from the Rent accruing for the month following the date of such
repair.

                              15. INSURANCE
                                  ---------

     (i)   Lessee, at its cost, shall maintain a policy of Combined Single
Limit Bodily Injury and Property Damage Insurance during the Term such
insurance to provide protection in the amount of One Million ($1,000,000)
Dollars combined single limit, insuring Lessor and Lessee against any
liability arising out of and in connection with Lessee's Use or occupancy of
the Space.

<PAGE>

     (ii)  Lessor shall obtain and maintain insurance on the Hospital,
primarily a policy of Combined Single Limit Bodily Injury and Property Damage
Insurance insuring against any liability arising out of the ownership or
maintenance of the Hospital and all areas appurtenant thereto in an amount
not less than combined single limit of One Million ($1,000,000) Dollars.
Lessor should also obtain and maintain a policy or policies of insurance
covering loss or damage to the Space, providing protection against all perils
included within the classification of fire, extended coverage, vandalism,
malicious mischief, flood (in the event such is required by a lender having a
lien on the Hospital)  Lessee should obtain and maintain a policy or policies
of insurance covering loss or damage to its equipment and improvements and
betterments to the Space against fire, vandalism, malicious mischief, and
flood.  The Lessee shall also obtain and maintain a policy or policies of
insurance listing the Lessor as an additional insured against liability in
the amount of One Million ($1,000,000) Dollars and shall provide Lessor with
copy of statement of coverage prior to occupancy of Space.

     (iii) Lessee and Lessor each hereby release and relieve the other (which
includes the other party's employees, agents, officers, directors and
shareholders) from any liability, whether for negligence or otherwise, in
connection with loss covered by any insurance policies which the releasor
carries with respect to the Hospital and/or the Space or any interest or
property therein or thereon, but only to the extent that such loss is
collected under said insurance policies. Such release is also conditioned
upon the inclusion in the policy of a provision whereby any such release
does not adversely affect such policy or prejudice any right of the releasor
to recover thereunder.  Each party's insurance policies shall include such a
provision so long as it is obtainable without extra cost.

                            16. QUIET ENJOYMENT
                                ---------------

     Lessor, covenants and agrees that Lessee, upon paying said rent and
performing the covenants of this Lease, on its part to be performed, shall
and may peaceably and quietly have, hold and enjoy the Space and common
areas, including but not limited to parking areas, sidewalk entrances and
exits of the Hospital for the Term.

                             17. TERMINATION
                                 -----------

     Lessee has the right, provided it is not then subject to an Event of
Default, to terminate this Lease, for any reason or without any cause, upon
ninety (90) days prior written notice to Lessor, and upon expiration of such
ninety (90) days, this Lease will terminate with no liability thereafter by
either party to the other, except for any sums accruing to the date of such
termination.  Lessee agrees that this termination provision is not applicable
within first twelve (12) months of lease thereby transforming this lease to
a guaranteed twelve (12) month lease.  Furthermore, Lessor also maintains the
right, after the first twelve (12) month lease period, to terminate this
lease for any reason or without cause upon ninety (90) days prior written
notice to Lessee.

                           18. AUTHORIZATION
                               -------------

     Lessor and Lessee each has all the requisite right, power, legal
capacity and authority, corporate and otherwise, to enter into this Lease and
to assume and perform their respective obligations hereunder.  The execution
and delivery of this Lease and the performance by Lessor and Lessee of their
obligations hereunder have been duly authorized by their respective boards of
directors and/or partners, as the case may be, and this Lease is a binding
and enforceable Lease of Lessor and Lessee according to its terms.  The
execution, delivery and performance of this Lease by Lessor and Lessee will
not result in any violation of and will not conflict with, or result in any
breach of any of the terms of or constitute a default under, or constitute an
event which with notice or the passage of time or both would constitute a

<PAGE>

default under, any provision of any law to which Lessor or Lessee is subject,
the partnership agreement, or the articles of incorporation, and by-laws of
the Lessor and/or Lessee, as the case may be, or any mortgage, indenture,
agreement, instrument, judgment, decree, or rule or resolution or other
restriction to which Lessor or Lessee is bound.  The representations as
contained herein are only made by Lessor and Lessee as to their own corporate
acts, articles of incorporation, by-laws and/or partnership agreements, as
the case may be, and their respective related agreements and regulations and
neither makes any representations as to the others acts, articles of
incorporation, by-laws, partnership agreements, as the case may be, and
related agreements and regulations.

     No action, approval, consent or authorization, including but not limited
to any action, approval or consent of any shareholder, note holder, partner,
or order of any court or governmental agency, commission, board, bureau or
instrumentality, otherwise than as specifically provided in this Lease, is
necessary in order to constitute this Lease as a valid, binding and
enforceable obligation of the parties hereto in accordance with its terms.

                                19. AGREEMENT
                                    ---------

     It is expressly understood by the parties that the whole agreement
between them is embodied in this Lease and the attachments hereto (executed
in duplicate) and may only be modified by a written agreement (s) executed
by Lessor and Lessee.

                                20. NOTICES
                                    -------

     All rent payments, notices, requests, demands and other communications
under this Lease shall be in writing and shall be deemed to have been duly
given on the date of service if served personally on the party to whom notice
is to be given, or on the third day after mailing if mailed to the party to
whom notice is to be given, by first class mail, registered or certified,
postage prepaid, or the next day or second day if effected by such overnight
mail, and properly addressed as follows:

To Lessor:      Clinch Memorial Hospital
                524 Carswell Street
                P.O. Box 516
                Homerville, GA 31634
                Attn: Bruce Shepard, Administrator

Copy To:        Howard B. Slocumb, Esq.
                Highway 441 South
                Homerville, Georgia 31634

To Lessee:      Dialysis Corporation of America
                27 Miller Street
                Lemoyne, PA 17043
                Attn: Stephen W. Everett, President

Copy To:        Jaffe Freedman & Hait, LLC
                777 Terrace Avenue
                Hasbrouck Heights, NJ 07604
                Attn: Lawrence E. Jaffe, Esq.

<PAGE>

     Any party may change its address for purposes of this Section 21 by
giving the other parties written notice of the new address in the manner set
forth above.

                              21. APPLICABLE LAW
                                  --------------

     This Lease shall be construed under the laws of the State of Georgia.  If
any provision of this Lease, or portion thereof, or the application thereof
to any person or circumstances shall, to any extent, be invalid or
unenforceable, the remainder of this Lease shall not be affected thereby and
each provision of this Lease shall be valid and enforceable to the fullest
extent permitted by law.

                               22. LEGAL FORUM
                                   -----------

     If either party institutes legal action pertaining to this Lease, the
venue of the suit shall be Clinch County, Georgia.

                        23. GOING CONCERN OF LESSOR
                            -----------------------

     Should Lessor, for any reason, deem it necessary to discontinue its
operations as a Hospital or healthcare provider, the Lessor then maintains
the right to terminate this lease immediately with written notice to Lessee.

                             24. COUNTERPARTS
                                 ------------

     This Lease may be executed in several counterparts and each such
counterpart shall be deemed an original, and all counterparts shall constitute
a single original Lease.

     IN WITNESS WHEREOF, Lessor and Lessee have duly executed this Lease on the
date so indicated alongside their respective signatures.

                         Lessor: CLINCH MEMORIAL HOSPITAL

                            /S/ a. Bruce Shepard

Dated: 9/29  , 2000      By:-----------------------------------------
                            BRUCE SHEPARD, Administrator

                         Lessee:  DIALYSIS CORPORATION OF AMERICA

                            /s/ Stephen W. Everett

                         By:-----------------------------------------
                            STEPHEN W. EVERETT, President

Sworn to and subscribed before me this 29th day of September, 2000.

                                       /s/ Theresa Hendrix

                         Notary Public:------------------------------

                                 Notary Public, Clinch County, Georgia
                                 My commission expires May 2, 2002
                         My Commission Expire:-----------------------

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