Document:

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                              SETTLEMENT AGREEMENT

       This Settlement Agreement ("Agreement") is entered into as of
September 21, 2000 by and among Eye Care Centers of America, Inc., a Texas
corporation ("ECCA"), Visionworks, Inc., a Florida corporation and
wholly-owned subsidiary of ECCA ("Visionworks"), Enclave Advancement Group,
Inc., a Delaware corporation and wholly-owned subsidiary of ECCA ("Enclave"),
Vision Twenty-One, Inc., a Florida corporation ("Vision 21"), Block Vision,
Inc., a New Jersey corporation and a direct wholly-owned subsidiary of Vision
21 ("Block Vision"), MEC Healthcare, Inc., a Maryland corporation and
wholly-owned subsidiary of Vision 21 ("MEC"), Vision Twenty-One Managed Eye
Care of Tampa Bay, Inc., a Florida corporation ("Vision 21-Tampa Bay"), The
Complete Optical Laboratory, Ltd., Corp., a New Jersey corporation and a
direct wholly-owned subsidiary of Vision 21 ("TCOL"), Vision Twenty-One of
Wisconsin, Inc., a Wisconsin corporation ("Vision 21-Wisconsin"), Theodore N.
Gillette, O.D. ("Gillette"), Paul O. Smith, O.D. ("Smith"), Optometric
Consultants of Florida, P.A., a Florida professional association wholly-owned
by Gillette and Smith (the "Joint Practice"), Optometric Associates of
Florida, P.A, a Florida professional association majority-owned by Gillette
("OAF" and together with the Joint Practice, the "Gillette Practice"), Drs.
Smith, Porter & Associates, P.A., a Florida professional association
wholly-owned by Smith ("DSPA"), Dr. Smith & Associates, #6966, P.A., a
Florida professional association wholly-owned by Smith ("#6966"), Dr. Smith &
Associates, #6958, P.A., a Florida professional association wholly-owned by
Smith ("#6958"), and Dr. Smith & Associates, #6952, P.A., a Florida
professional association wholly-owned by Smith ("#6952" and collectively with
the Joint Practice, DSPA, #6966 and #6958, the "Smith Practice"). ECCA,
Visionworks, Enclave and their respective subsidiaries are hereinafter
referred to collectively as the "ECCA Companies" or individually as an "ECCA
Company." Vision 21, Block Vision, MEC, Vision 21-Tampa Bay, Vision
21-Wisconsin and their respective subsidiaries and Affiliates (as hereinafter
defined) are hereinafter referred to collectively as the "Vision 21
Companies" or individually as a "Vision 21 Company."

                              W I T N E S S E T H:

       WHEREAS, the Vision 21 Companies and the ECCA Companies have numerous
business relationships with each other relating to providing optometric
services, selling optical goods, managed vision care contracts and other
related services and desire to settle certain outstanding matters related
thereto;

       WHEREAS, Vision 21 entered into, or assumed the rights and obligations
as sublessee under, (i) certain Sublease Agreements (the "Sublease
Agreements") with ECCA or Visionworks, as the case may be, for premises
within or adjacent to certain retail optical store locations of the ECCA
Companies in Florida, Texas and Arizona as set forth on EXHIBIT A attached
hereto, (ii) certain Promissory Notes (the "Promissory Notes") for the
benefit of ECCA or Visionworks, as the case may be, for the purchase of
optometric equipment (the "Promissory Notes") and (iii) Trademark License
Agreements (the "Trademark License Agreements") with Enclave;

       WHEREAS, the ECCA Companies and Vision 21 have terminated the Sublease
Agreements and Vision 21 has vacated the premises in Arizona, Texas and
Florida (or with respect to certain premises in Florida agreed to vacate the
premises with an effective date prior to the date hereof) which were the
subject of the Sublease Agreements (the premises in Florida being
collectively referred to herein as the "G&S Optometric Premises" and together
with the Arizona and Texas premises, the "Optometric Premises") on the dates
as set forth on EXHIBIT A attached hereto (the "Transition Dates" and each a
"Transition Date");

       WHEREAS, ECCA has been using certain optometric equipment owned or
leased by Vision 21 located at the premises in Arizona and Texas (the
"Subleased Optometric Equipment");

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       WHEREAS, Vision 21 has announced that it is discontinuing the business
of managing optometric practices and, in connection therewith and with the
proper termination of the Sublease Agreements, ECCA and Vision 21 desire to
coordinate an orderly transition of the optometric practices managed by
Vision 21 (and related businesses) at the Optometric Premises (the "Vision 21
Practices"), the names of such Vision 21 Practices being set forth on EXHIBIT
A opposite the description of the Optometric Premises;

       WHEREAS, concurrent with this Agreement, Gillette, Smith, the Gillette
Practice, Smith Practice and Vision 21 will enter into agreements regarding
the sale of certain practice assets, including all of the optometric
equipment located at the G&S Optometric Premises in Florida, by Vision 21
back to the Gillette Practice and/or the Smith Practice (or such other
professional corporation or association owned by Smith and/or Gillette), the
termination or assignment of the business management agreements, the
termination of Gillette and Smith's employment with Vision 21 and certain
other business issues (the "Unwind Agreements");

       WHEREAS, in connection with the orderly transition of the Gillette
Practice and the Smith Practice and with the Unwind Agreement, Visionworks
would enter into sublease agreements with each of the Gillette Practice and
the Smith Practice (or such other professional corporation or association
owned by Smith and/or Gillette) in connection with the G&S Optometric
Premises identified on EXHIBIT A, such sublease agreement to have a term of
two (2) years or one (1) year, as the case may be, and be in substantially
the form attached hereto as EXHIBIT B (the "New Sublease Agreements") (the
professional corporation(s) or association(s) entering into the New Sublease
Agreements are hereinafter collectively referred to as the "Designated
Optometrists" and individually as the "Designated Optometrist"). The
Designated Optometrist at each of the G&S Optometric Locations is set forth
opposite the address of such location on EXHIBIT C attached hereto;

       WHEREAS, certain of the ECCA Companies and the optometrists with
practices located adjacent to or within the retail optical stores owned or
operated by any ECCA Company are on the managed care panels with respect to
managed vision care contracts secured or administered by the Vision 21
Companies;

       WHEREAS, pursuant to that certain Asset Purchase Agreement, dated July
7, 1999 (the "Asset Purchase Agreement") by and among ECCA, Vision 21 and
TCOL, ECCA (through its subsidiaries) acquired certain of the assets and
operations of Vision 21 and TCOL with respect to its optical retail stores
located primarily in Minnesota, Wisconsin and New Jersey;

       WHEREAS, ECCA and Vision 21 are parties to an Agreement Regarding
Strategic Alliance dated September 30, 1999 (the "Strategic Alliance
Agreement");

       WHEREAS, ECCA and Vision 21 are parties to a letter agreement, dated
February 23, 1999 whereby ECCA has agreed to reimburse Vision 21 for the
optical technicians engaged by Vision 21 in connection with the Vision 21
Practices (the "Optical Technician Letter Agreement");

       WHEREAS, the Parties hereto desire to reach an agreement regarding the
settlement of the amounts owed by the parties and the transition of the
Vision 21 Practices to the Designated Optometrists;

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       WHEREAS, Gillette, Smith, the Gillette Practice and the Smith Practice
acknowledge that they will directly and indirectly benefit from the
termination of the business management agreements with Vision 21 and the
orderly transition of their respective optometric practices at certain of the
Optometric Premises to a Designated Optometrist in accordance with the terms
hereof and therefore desire to facilitate the transition to minimize the
impact on their respective patients and optometrists; and

       WHEREAS, the transactions contemplated by this Agreement will affect
Gillette, Smith, the Gillette Practice and the Smith Practice by inter-alia
settling debts for which the Gillette Practice or the Smith Practice may be
liable (e.g., certain rent payments owed to ECCA or Visionworks with respect
to the occupancy of the Optometric Premises, obligations owed to Vision 21
under their respective Business Management Agreements and by virtue of
Gillette's and Smith's economic interest in Vision 21);

       NOW, THEREFORE, in consideration of the premises and mutual covenants
and agreements of the Parties hereinafter contained and other good and
valuable consideration the receipt of which is hereby acknowledged by each
Party, the Parties hereby agree as follows:

                                    ARTICLE I
                        TRANSITION OF VISION 21 PRACTICES

       1.01    ACKNOWLEDGEMENTS. Vision 21, Gillette, Smith, the Gillette
Practice, the Smith Practice, ECCA, Visionworks and Enclave acknowledge and
agree that:

              (a)   The parties acknowledge and agree that the Sublease
Agreements, including without limitation, the Sublease Agreements related to
the G&S Optometric Premises at which the Vision 21 Practices were or are
presently operated, are terminated and neither Vision 21, on one hand, nor
any of the ECCA Companies, on the other hand, have any liability to the other
party under the Sublease Agreements except as set forth in this Agreement.
Effective as of the respective Transition Dates, Vision 21 is not entitled to
occupy the Optometric Premises and has, or will immediately following the
execution hereof, vacate such premises. To the extent that Vision 21 has any
contractual liability under the Sublease Agreements, the ECCA Companies will
use their reasonable best efforts to obtain, within a reasonable period of
time, the release of Vision 21 from contractual liability or obligation under
the underlying leases, if any.

              (b)   As of the date hereof, Vision 21 owes to the ECCA
Companies rent payments (past due and current) plus accrued interest plus
amount trademark license fees in the approximate aggregate amount of $866,468
($670,670 for the Visionworks locations in Florida through the applicable
Transition Dates and $195,798 for the EyeMasters locations in Texas and
Arizona through the applicable Transition Dates) relating to the Trademark
License Agreements and the Sublease Agreements and the rents owed through the
date of Vision 21's vacating of the subject premises.

              (c)   As of the date hereof, Vision 21 owes to ECCA the amount
of approximately $23,195 under the Promissory Notes.

              (d)   As of the date hereof, the ECCA Companies owe to Vision
21 the aggregate amount of $881,803 relating to the Optical Technician Letter
Agreement.

              (e)   As of the date hereof, the ECCA Companies owe to Vision
21 the aggregate amount of $12,498 for its use of the Subleased Optometric
Equipment.

              (f)   ECCA has agreed to pay Vision 21 an amount equal to
$115,818 for purchase of the Owned Optometric Equipment (as hereinafter
defined).

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              (g)   ECCA has agreed to pay to Vision 21 an amount equal to
$190,000 for the purchase of the Leased Optometric Equipment (as hereinafter
defined), which Vision 21 has, or will, acquire good and marketable title
from Banc One Leasing Corporation, immediately prior to or concurrent with
the execution hereof.

              (h)   Such payments shall be made in accordance with SECTION
1.02(a) below.

       1.02   TRANSITION OF THE VISION 21 PRACTICES.

              (a)    Concurrent with the execution hereof, (i) Vision 21
shall pay to ECCA, as representative of the ECCA Companies, the amount, if
any, by which the Vision 21 Debt (as hereinafter defined) exceeds the ECCA
Debt (as hereinafter defined) or (ii) ECCA shall pay to Vision 21 the amount,
if any, by which the ECCA Debt exceeds the Vision 21 Debt, as the case may
be. The ECCA Debt shall be the amount of $1,200,120, which represents the
full satisfaction of the amounts owed by the ECCA Companies to Vision 21 with
respect to the services provided, or to be provided prior to vacating the
Optometric Premises, under the Optical Technician Letter Agreement and any
amounts owed with respect to the Owned Optometric Equipment, the Subleased
Optometric Equipment and the Leased Optometric Equipment. The parties
acknowledge that all or a portion of the amount to be paid by ECCA to Vision
21 hereunder may be paid to Banc One Leasing Corporation (on behalf of Vision
21) as pay-off of the Leased Optometric Equipment in accordance with SECTION
1.02(d) below and upon delivery of such funds, Banc One Leasing Corporation
would transfer title to such Leased Optometric Equipment directly to ECCA or
its subsidiary. Further, Vision 21 hereby consents to and directs ECCA to
deliver any of the funds owed to Vision 21 pursuant to clause (ii) above,
less any of the amounts paid directly to Banc One Leasing Corporation
pursuant to the preceding sentence, directly to the Bank of Montreal as
provided in the consent from the Bank of Montreal and the other banks that
are parties to Vision 21's credit agreement. The Vision 21 Debt shall be
equal to $889,663, which is comprised of the following:

              (i) $866,468 ($670,670 for the Visionworks locations in Florida
       through the applicable Transition Dates and $195,798 for the EyeMasters
       locations in Texas and Arizona through the applicable Transition Dates),
       which shall be in full satisfaction of (A) the rental payments and
       accrued interest due and owing by Vision 21 in connection with the
       Sublease Agreements and any and all other obligations under the Sublease
       Agreements, (B) the rental payments for Vision 21's continued occupancy
       of the Optometric Premises through the applicable Transition Dates with
       respect the Optometric Premises, and (C) the license fees and accrued
       interest owed by Vision 21 under the Trademark License Agreements;

              (ii) $23,195 which shall be in full satisfaction of the amounts
       due and owing under the Promissory Notes plus the remaining principal
       amount due thereunder.

              (b)   Vision 21 shall, and shall use its reasonable best
efforts to cause each of the Vision 21 Practices to terminate the business
management agreements between Vison 21 and the Vision 21 Practices (except
with respect to the business management agreements with OAF which will be
assigned to third party management company owned by Gillette) and assist and
cooperate in the transition at the G&S Optometric Premises from practices
managed by Vision 21 to independent optometric practices owned and operated
by the Designated Optometrists.

              (c)   Concurrent with the execution hereof, Vision 21 shall
sell, transfer and convey to ECCA or its designee, free and clear of all
liens and encumbrances, (i) all optometric equipment owned by Vision 21 and
used at the Optometric Premises in Texas, Arizona and in the Lake Wales,
Orlando and Tallahasee, Florida locations, a list of which is set forth on
EXHIBIT D attached hereto (the "Owned Optometric Equipment") and (ii) the
optometric equipment formerly leased by Vision 21 from

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Banc One Leasing Corporation and listed on EXHIBIT E attached hereto which
will be acquired by Vision 21 immediately prior to, or concurrent with, the
execution hereof (the "Leased Optometric Equipment"). The purchase price for
the Owned Optometric Equipment and the Leased Optometric Equipment shall be
equal to the fair market value of such equipment as set forth on EXHIBIT D
and EXHIBIT E, respectively attached hereto and paid in accordance with
SECTION 1.02(a) above. Vision 21 hereby agrees that it will execute and
deliver to ECCA or its designee, a Bill of Sale in a form reasonably
acceptable to ECCA, and such other bills of sale, endorsements, assignments,
releases, and other good and sufficient instruments of transfer, assignment
and conveyance in form satisfactory to ECCA and its counsel, as shall be
effective to convey to ECCA or its designee good and marketable title in and
to the Owned Optometric Equipment and Leased Optometric Equipment, free and
clear of any Encumbrances.

              (e)    Concurrent with or immediately following the execution
hereof, Visionworks and each Designated Optometrist shall enter into a New
Sublease Agreement with a term of two (2) years with respect to each of the
G&S Optometric Premises, except with respect to the premises in Port
Charlotte and Fort Myers, Florida which will be for a term of one (1) year.
The name of the Designated Optometrist who will enter into each New Sublease
Agreement is set forth opposite the G&S Optometric Practice on EXHIBIT C
attached hereto. The effective date of each New Sublease Agreement shall be
the applicable Transition Date for the respective location, or such other
date as may be agreed upon by the Parties. In addition, Visionworks and each
of the Designated Optometrists owned or controlled by Gillette (as identified
on EXHIBIT A) shall enter into an agreement whereby the Designated
Optometrists will be reimbursed by Visionworks for the optical technicians
engaged by the Designated Optometrists at the G&S Optometric Premises, the
terms of such agreement to be substantially similar to the current agreement
between ECCA and Vision 21 relating to the optical technicians at the G&S
Optometric Premises. The Designated Optometrists owned or controlled by Smith
will not enter into agreements regarding optical technicians.

       1.03   NON-SOLICITATION.

              (a)    For the period commencing on the date hereof and ending
on the second anniversary of the date hereof, none of the Vision 21 Companies
(collectively the "Restricted Parties" and individually as a "Restricted
Party") shall, directly or indirectly, either for itself or any other Person,
(A) induce or solicit, or attempt to induce or solicit, any of the Vision 21
Optometrists or any of the ECCA Optometrists to leave the employ of its
employer or to terminate their sublease or other relationship with an ECCA
Company, as the case may be, (B) in any way, directly or indirectly,
interfere with the relationship between the ECCA Companies and any of the
ECCA Optometrists, or otherwise take any action, or refrain from taking any
action, the effect of which action or inaction would reasonably be expected
to adversely affect the relationship between an ECCA Company and an ECCA
Optometrist, (C) employ, or otherwise engage as an employee or independent
contractor, or enter into any other relationship (or solicit such
relationship) relating to the provision of optometric services with, any of
the then ECCA Optometrists or Vision 21 Optometrists. The Parties acknowledge
that the foregoing provisions shall also restrict any company to which a
Restricted Party provides management services, and the Restricted Party shall
disclose this restriction to any company to which it provides management
services and obtain their agreement to be bound to this Non-Solicitation
clause. Notwithstanding the foregoing, the Parties acknowledge that the
foregoing restrictions in clause (A) above shall not apply to general
advertisements in newspapers, magazines or other periodicals that are widely
distributed, but the Restricted Parties shall continue to be bound by the
restrictions and prohibitions set forth in clauses (B) and (C) with respect
to any optometrist responding to such advertisements. Further, with respect
to clause (C) the term "other relationship" shall not include a relationship
with an optometrist which consists SOLELY of the inclusion of such
optometrist on the managed vision care plan panels or selling optical goods
to, or purchasing optical goods on behalf of, such optometrists.

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              (b)    DEFINITIONS.

              "ECCA Optometrists" shall mean all of the optometrists (and
their respective professional entities through whom they perform optometric
services) (i) who are then employed by any of the ECCA Companies, or have
been so employed in the preceding twelve (12) months, (ii) to whom an ECCA
Company then provides management services or has provided management services
in the preceding twelve (12) months, (iii) who are then employed by any other
optometrists (or professionally entity owned by an optometrist), or have been
so employed in the preceding twelve (12) months, to whom an ECCA Company then
provides management services; or (iv) who have practices then located, or
located within the preceding twelve (12) months, adjacent to or within (or
near if such space is sublet by an ECCA Company) the stores owned or operated
by any ECCA Company.

              "Vision 21 Optometrists" shall mean all of the optometrists who
are employed by the Vision 21 Practices, or were employed during the six (6)
months preceding the date hereof, to provide service at any of the Optometric
Premises that were subject to the Sublease Agreements.

              (c)    REMEDIES. If a Vision 21 Company breaches any of the
covenants set forth in this SECTION 1.03, the ECCA Companies will be entitled
to the following remedies, in addition to any others, each of which shall be
independent of the other and severally enforceable:

                     (i)    The Parties stipulate and agree that it will be
difficult to quantify the severe harm to the ECCA Companies if an ECCA
Optometrist ceases to be an ECCA Optometrist as a result, directly or
indirectly, of a Restricted Party's breach of this SECTION 1.03. However, if
a Restricted Party breaches this SECTION 1.03, the parties agree and
stipulate that the damages to ECCA would be significant. Accordingly, if a
Restricted Party breaches this SECTION 1.03, such Restricted Party shall pay
to the ECCA Companies the amount of $150,000.00 for each ECCA Optometrist who
then becomes employed by or otherwise enters into a prohibited relationship
with the Restricted Party or, as a proximate cause of such breach, ceases to
be an ECCA Optometrist. It is further stipulated and agreed that such amount
of damages is a reasonable estimate of the damages that would be incurred by
the ECCA Companies and the payment of such damages is not intended to be
punitive. In the event that the liquidated damages provision in the foregoing
sentence is determined to be unenforceable, the court shall strike the
unenforceable portion of this Agreement and the remainder of this Agreement
shall remain in full force and effect, and the ECCA Companies shall be
entitled to pursue all remedies available under applicable law for the breach
of this SECTION 1.03. For purposes of determining whether an ECCA Optometrist
ceases to be an ECCA Optometrist under this SUBSECTION 1.03(c)(i), an ECCA
Optometrist will cease being an ECCA Optometrist upon termination of the
relationship which resulted in him or her being classified as such, and will
not be deemed an ECCA Optometrist for the 12 months following such cessation.

                     (ii)   The right to have the provisions of this
Agreement specifically enforced by injunction by any court having equity
jurisdiction, it being acknowledged and agreed that any such breach or
threatened breach will cause irreparable injury to the ECCA Companies and/or
one or more of their respective subsidiaries and Affiliates and that money
damages will not provide an adequate remedy to them. Such injunction shall be
available without the posting of any bond or other security, and each of the
Restricted Parties hereby consents to the issuance of such injunction.

       1.04.  ASSISTANCE IN PRACTICE TRANSITION. Gillette, Smith, the
Gillette Practice and the Smith Practice hereby consent to the transactions
contemplated herein. Gillette, Smith, the Gillette Practice and the Smith
Practice shall provide assistance and cooperation as requested by the ECCA
Companies in transitioning the optometric practices at the G&S Optometric
Premises to a Designated Optometrist. Further, with respect to any of the
Optometric Premises in Arizona or Texas, Vision 21 shall, and shall use its
reasonable best efforts to cause the Vision 21 Practices to, provide
assistance and cooperation as

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requested by the subleasing optometrists at such practice locations in
transitioning the optometric practice previously managed by Vision 21 at such
location to the subtenant thereof.

       1.05   RELEASE FROM NON-COMPETITION AGREEMENTS. In the event that the
Designated Optometrists fail to commence operating at any of the G&S
Optometric Premises on the Transition Date as contemplated herein (other than
as a result of the default of any of the ECCA Companies under this
Agreement), then:

              (a)    Gillette, Smith, the Gillette Practice and the Smith
Practice shall be deemed to have released any and all Vision 21 Optometrists
(all of such optometrists are hereinafter collectively referred to as the
"Restricted Optometrists"), from any restrictions from, or prohibitions
against, entering into employment agreements, sublease agreements, management
agreements or other arrangements or agreements with an ECCA Company or an
ECCA Optometrist.

              (b)    Gillette, Smith, the Gillette Practice and the Smith
Practice will be deemed to have expressly consented to the ECCA Companies
and/or the ECCA Optometrists (i) soliciting employment or other arrangements
with the Restricted Optometrists, and (ii) entering into employment
agreements, sublease agreements, management agreements or other arrangements
or agreements upon such terms as may be desirable for the ECCA Companies or
the ECCA Optometrists, as the case may be.

              (c)    Vision 21, Gillette, Smith, the Gillette Practice and
the Smith Practice will be deemed to have expressly consented to the ECCA
Companies and/or the ECCA Optometrists employing or entering into employment
agreements, sublease agreements, management agreements or other arrangements
or agreements upon such terms as may be desirable for the ECCA Companies or
the ECCA Optometrists, with any optometrists that have previously been
employed by such party and thereby waive any claim for a breach of a
non-competition agreement that may have otherwise resulted from such
engagement.

                                   ARTICLE II
                           MANAGED VISION CARE PANELS

       2.01   PARTICIPATION ON PANELS. With respect to managed vision care
and the relationship of ECCA and Vision 21 with respect thereto, Vision 21
agrees (and agrees to cause Block Vision, MEC, Vision 21-Wisconsin, Vision
21-Tampa Bay and its other subsidiaries to agree) as follows:

              (a)    For the period commencing on the date hereof and ending
on the fifth anniversary of the date hereof, unless otherwise specified by
the associated employer group or managed care entity, to the extent permitted
by applicable law and subject to the credentialing and other participatory
requirements of each managed vision care plan, and continued compliance by
the ECCA Participants (as defined below) with the terms and conditions of the
applicable provider agreements, including all managed care entity-specific
provisions included therein (subject to the restrictions set forth below),
the Vision 21 Companies shall include all of the optical retail stores of the
ECCA Companies and all of the ECCA Optometrists, including new store
locations and optometrists (and their respective professional entities) that
may hereinafter become ECCA Optometrists (collectively, the "ECCA
Participants"), on each of the provider panels of managed vision care plans
secured or administered by a Vision 21 Company covering markets in which such
ECCA Participant is located. The Vision 21 Companies shall take such actions
as reasonably necessary to insure that the ECCA Participants are not
discriminated against with respect to participation on such provider panels
and receive the same benefits and treatment as the other members of the
panels, except for the compensation or reimbursement to be paid by the Vision
21 Companies to the ECCA Participants on existing contracts which has been
and shall continue to be at the same rates set forth under presently existing
managed vision care contracts. The ECCA Participants will be included on the
panels of such managed vision care plans immediately

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following the execution of this Agreement, subject to the credentialing and
other participatory requirements.

       With respect to new managed vision care contracts after the date
hereof, the Vision 21 Companies and ECCA agree that (i) any decrease in
historical reimbursement rates shall be as mutually agreed upon, (ii) Vision
21 shall negotiate reimbursement rates in good faith and not arbitrarily or
capriciously offer lower rates to discourage ECCA from accepting new
contracts and (iii) reimbursement rates will be proportionate to rates
currently in effect and relative to reimbursement levels offered to non-ECCA
panel members taking into account the size and scope of the ECCA panel
members. The Vision 21 Companies shall use their reasonable best efforts to
assist the ECCA Participants in the application process for obtaining the
requisite credentialing to participate on such provider panels. If the
credentialing is denied for any reason or if any ECCA Participant is removed
from a panel for non-compliance with the participation requirements, the
Vision 21 Companies shall provide, or cause to be provided, to the ECCA
Participants, within 30 days of such denial or removal, the basis for denying
the credentialing or removing the ECCA Participant from the panel and an
opportunity to cure the deficiency of the ECCA Participant in order to secure
or maintain, as the case may be, a position on such provider panels. If,
after the date hereof, an ECCA Company bids on a managed vision care contract
that is then awarded to a Vision 21 Company, then the Vision 21 Companies
will not be obligated to include the ECCA Participants on the provider panel
solely as it relates to such managed vision care contract; provided, however
the foregoing shall not affect right of the ECCA Participants to participate
on the provider panels as they relate to all other managed vision care
contracts.

              (b)    For the period commencing on the date hereof and ending
on December 31, 2005, unless otherwise specified by the associated employer
group or managed care entity, to the extent permitted by applicable law and
subject to the credentialing requirements of each managed vision care plan,
the ECCA Companies shall use their respective reasonable best efforts to
cause the optometrists managed by the Vision 21 Companies in the state of
Arizona under the name "Talbert Optical" to be included on the provider panel
of the "Intergroup" managed vision care plan covering the Arizona market in
which such optometrist is located. Notwithstanding the foregoing, none of the
ECCA Companies will have any obligations under this SECTION 2.01(b) unless
and until the ECCA Participants are included on the panels for the managed
vision care plan relating to PacifiCare.

              (c)    The Parties acknowledge that the Strategic Alliance
Agreement contained provisions relating to the participation of ECCA
Participants on Vision 21's managed vision care provider panels and,
accordingly, upon execution hereof and the execution by Block Vision, MEC,
Vision 21-Tampa Bay and Vision 21-Wisconsin of the agreements contemplated in
SECTION 2.01(d) below, the Strategic Alliance Agreement will be terminated
and of no further force or effect, and none of ECCA, Vision 21 or the
respective Affiliates shall have any further rights or obligations thereunder.

              (d)    Concurrent with the execution hereof, Block Vision, MEC,
Vision 21-Tampa Bay and Vision 21-Wisconsin will each execute a separate
agreement with ECCA, in substantially the forms of EXHIBITS F, G, H and K
attached hereto, agreeing to the matters set forth in clauses (a) and (b) of
this SECTION 2.01. In the event that any other subsidiary of Vision 21
engages in the managed vision care business, such subsidiary shall also
execute a separate agreement with ECCA in substantially the form of EXHIBIT
F, G, H and K attached hereto.

              (e)    If after the date hereof, Vision 21, any of its
subsidiaries, or their any of their respective businesses, is acquired,
directly or indirectly (whether through sale of stock, merger, sale of
assets, consolidation or other similar transaction), by OptiCare Health
Systems, Inc. or any affiliate thereof ("Opticare"), concurrent with such
acquisition, Opticare (or such other acquiring entity) shall execute an
agreement agreeing to be bound (and causing its subsidiaries and affiliates
to be bound) by the provisions of clauses (a) and (b) of this SECTION 2.01.

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                                   ARTICLE III
                            ASSET PURCHASE AGREEMENT

       3.01   PURCHASE PRICE ADJUSTMENT PAYMENT. Vision 21, TCOL and ECCA
acknowledge and agree that (i) Vision 21 and TCOL owe to ECCA the amount of
Four Million Thirty-One Thousand Eight Hundred Seventy-Three Dollars
($4,031,873.00) plus accrued interest (the "Purchase Price Adjustment
Amount") in connection with the purchase price adjustment under Section 2.03
of the Asset Purchase Agreement and (ii) Vision 21 has certain obligations
with respect to certain payments owed to certain optometrists under the
Partnership Agreements (as defined in the Asset Purchase Agreement"). With
respect to the Asset Purchase Agreement, the Parties agree as follows:

              (a)    Subject to the satisfaction, in all material respects,
of the covenants of the Vision 21 Companies contained in this Agreement and
the transition of the G&S Optometric Practices as contemplated herein, ECCA
and Vision 21 hereby agree that the aggregate debt due from Vision 21
relating to the Purchase Price Adjustment Amount shall be reduced to
$1,531,873 (a reduction in the principal amount of $2,500,000), and shall
then be due and payable, accruing interest at a rate of 7% per annum (such
indebtedness being referred to as the "Adjusted Indebtedness").
Notwithstanding the foregoing, upon and subject to the consummation of Vision
21's restructuring of its bank credit facility on terms that do not
materially adversely affect the rights of ECCA in a way that is materially
different from the restructuring term sheet attached to the Agreement as
EXHIBIT L, the parties agree to restructure the Adjusted Indebtedness to be
payable upon the terms set forth in the attached EXHIBIT K and that
concurrent with the consummation of the restructuring of the bank credit
facility as contemplated herein, Vision 21 shall deliver to ECCA a
convertible note, in a form reasonably satisfactory to ECCA, in accordance
with the terms set forth on EXHIBIT L attached hereto.

              (b)    Vision 21 and ECCA each hereby affirms its obligations
with respect to the Partnership Agreements (as defined in the Asset Purchase
Agreement) as set forth in the Asset Purchase Agreement.

                                   ARTICLE IV
                    REPRESENTATIONS, WARRANTIES AND COVENANTS

       4.01   CONSENTS. The Bank of Montreal shall have consented, in writing
and in a form reasonably acceptable to ECCA, to the terms of this Agreement
including, without limitation, the reduction of the debt related to the
Purchase Price Adjustment Amount, a copy of which consent has been provided
to ECCA.

       4.02   COOPERATION. Subject to the terms and conditions herein
provided, each Party will use such Party's reasonable best efforts to take,
or cause to be taken, such actions, to execute and deliver, or cause to be
executed and delivered, such additional documents and instruments and to do,
or cause to be done, all things necessary, proper or advisable under the
provisions of this Agreement and applicable law to consummate and make
effective all of the transactions contemplated herein.

       4.03   CONFIDENTIALITY. Vision 21, Block Vision, TCOL, MEC, Vision
21-Wisconsin, Vision 21-Tampa Bay, Gillette, Smith, the Gillette Practice and
the Smith Practice shall, and Vision 21 shall cause each of the Vision 21
Companies and the Vision 21 Practices and their respective Representatives
and Affiliates to, hold in strict confidence and not use or disclose to any
other Person without the prior written consent of ECCA, all confidential
information related to the Optometric Premises and the Vision 21 Practices
which relate to the continued operations of the ECCA Companies or the
Designated Optometrists at the Optometric Premises from and after the date
such premises are vacated including, without limitation the business records
and the patient records to be provided to the Designated

                                       9
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Optometrists; PROVIDED, HOWEVER, that such information may be used or
disclosed (i) when required by any regulatory authorities or governmental
agencies, (ii) if required by court order or decree or applicable law, (iii)
if it is publicly available other than as a result of a breach of this
Agreement, (iv) if it is otherwise contemplated herein or, with respect to
the Vision 21 Practices which are Designated Optometrists or (v) by the
Designated Optometrist in connection with the operation of their practices at
the Optometric Premises after the applicable Transition Dates.

       4.04   REPRESENTATIONS AND WARRANTIES OF VISION 21, BLOCK VISION, MEC,
VISION 21-TAMPA BAY AND VISION 21-WISCONSIN. Vision 21, Block Vision, MEC,
Vision 21-Tampa Bay, Vision 21-Wisconsin and TCOL, jointly and severally,
hereby represent and warrant to ECCA, Visionworks and Enclave as follows:

              (a)    EXISTENCE, GOOD STANDING AND AUTHORITY. Each of Vision
21, Block Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin and TCOL is a
corporation duly organized, validly existing and in good standing under the
laws of its respective state of incorporation. Each of Vision 21, Block
Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin and TCOL has the power
to own its respective properties and to carry on its respective businesses as
now being conducted. Each of Vision 21, Block Vision, MEC, Vision 21-Tampa
Bay, Vision 21-Wisconsin and TCOL is duly qualified to do business in all
jurisdiction(s) in which the character or location of the properties owned or
leased by it or the nature of the businesses conducted by it makes such
qualification necessary, except where the failure to be so qualified would
not have a material adverse effect on such company. Each of Vision 21, Block
Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin and TCOL has full legal
right, power and authority to execute and deliver this Agreement, to perform
its obligations hereunder, and to sell, assign, transfer, convey and deliver
the Owned Optometric Equipment pursuant hereto.

              (b)    AUTHORIZATION, ETC. The Board of Directors and
shareholders of each of Vision 21, Block Vision, MEC, Vision 21-Tampa Bay,
Vision 21-Wisconsin and TCOL have taken all actions required by law, its
respective Organizational Documents or otherwise to authorize the execution
and delivery by such Party, of this Agreement and any other agreement
contemplated hereunder to which it is a party, and the performance of such
Party's obligations hereunder and thereunder. This Agreement has been duly
executed and delivered by each of Vision 21, Block Vision, MEC, Vision
21-Tampa Bay, Vision 21-Wisconsin and TCOL and is the legal, valid and
binding obligations of such Party enforceable against it according to its
terms. Block Vision, MEC, Vision 21-Tampa Bay and Vision 21-Wisconsin are
presently the only subsidiaries or Affiliates of Vision 21 engaged in the
business of managed vision care.

              (c)    NO CONFLICT. Neither the execution and delivery of this
Agreement nor the consummation or performance of any of the transactions
contemplated herein, will, directly or indirectly (with or without notice or
lapse of time):

                    (i)  contravene, conflict with, or result in a violation of
       (A) any provision of the Organizational Documents of any of Vision 21,
       Block Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL, or
       (B) any resolution adopted by the Board of Directors or shareholders of
       any of Vision 21, Block Vision, MEC, Vision 21-Tampa Bay, Vision
       21-Wisconsin or TCOL;

                                       10
<PAGE>

                     (ii)   contravene, conflict with, or result in a violation
       of, or give any Governmental Body or other Person the right to challenge
       any of the transactions contemplated hereby or to exercise any remedy or
       obtain any relief under, any Legal Requirement or any Order to which any
       of Vision 21, Block Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin
       or TCOL or any of the Optometric Equipment, may be subject;

                     (iii)  contravene, conflict with, or result in a violation
       or breach of any provision of, or give any Person the right to declare a
       default or exercise any remedy under, or to accelerate the maturity or
       performance of, or to cancel, terminate, or modify, any contract or
       commitment; or

                     (iv)   result in the imposition or creation of any
       Encumbrance upon or with respect to any of the Owned Optometric
       Equipment.

              Except for consents and notices received or given, none of
Vision 21, Block Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin or
TCOL is, or will it be, required to give any notice to or obtain any consent
from any Person in connection with the execution and delivery of this
Agreement or the consummation or performance of the transactions contemplated
hereby. The Bank of Montreal has reviewed this Agreement and consented, in
writing, to the execution and delivery of this Agreement and the consummation
or performance of the transactions contemplated hereby. Vision 21 has
delivered copies of all of such consents and notices to ECCA.

              (d)    LITIGATION. Except as set forth on EXHIBIT J hereto,
there is no Proceeding by any Person, or by or before (or any investigation
by) any Governmental Body, pending, or to the knowledge of Vision 21, Block
Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL threatened,
against or affecting (i) any of Vision 21, Block Vision, MEC, Vision 21-Tampa
Bay, Vision 21-Wisconsin or TCOL or the Optometric Premises which could
materially and adversely affect the right or ability of Vision 21, Block
Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL to perform its
obligations hereunder or the ability of the ECCA Companies to transition the
Optometric Premises as contemplated hereunder, or (ii) the transactions
contemplated hereby; and none of Vision 21, Block Vision, MEC, Vision
21-Tampa Bay, Vision 21-Wisconsin or TCOL has any knowledge of any valid
basis for any such Proceeding. None of the Vision 21, Block Vision, MEC,
Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL is subject to, or in default
under, any Order entered in any Proceeding which may have an adverse effect
on any of the ECCA Companies or the ability of Vision 21, Block Vision, MEC,
Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL to perform its respective
obligations hereunder.

              (e)    SUBLEASES. Vision 21 was the sublessor under the
Sublease Agreements and no other parties, including the Vision 21 Practices,
have any rights under the Sublease Agreements. None of the Vision 21
Companies, the Vision 21 Practices, or any of the optometrists (or their
professional entities) who occupy or occupied any of the premises which were
the subject of the Sublease Agreements, have any claims or rights against any
of the ECCA Companies with respect to the termination of the Sublease
Agreements or such parties occupancy of such premises, except as otherwise
expressly set forth herein. Any claims that such parties may have had are
waived by the execution of this Agreement.

              (f)    VISION 21 PRACTICES. The professional corporations which
comprise the Vision 21 Practices and are or were managed by Vision 21, and,
to the best knowledge of Vision 21, all of the owners of each such
professional corporation, are set forth on EXHIBIT A attached hereto and
incorporated herein by reference. Vision 21 has disclosed to ECCA all of the
optometrists that are, or have been in the preceding 6 months, employed by
any of the Vision 21 Practices.

                                       11
<PAGE>

              (g)    STATUS OF BANK FINANCING. Attached hereto as EXHIBIT L
is a proposed term sheet setting forth the terms of the proposed
restructuring of Vision 21's bank credit facility. Vision 21 has no reason to
believe that the bank credit facility will not be restructured in accordance
with the terms set forth on EXHIBIT L.

              (h)    DISCLOSURE. To the knowledge of Vision 21, Block Vision,
MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin and TCOL, none of this
Agreement, or any schedule, exhibit or certificate delivered in accordance
with the terms hereof or any document or statement in writing which has been
supplied by or on behalf of Vision 21, Block Vision, MEC, Vision 21-Tampa
Bay, Vision 21-Wisconsin or TCOL in connection with the transactions
contemplated hereby contains any untrue statement of a material fact or omits
any statement of a material fact necessary in order to make the statements
contained herein or therein, in light of the circumstances under which they
were made, not misleading.

       4.05   REPRESENTATIONS AND WARRANTIES OF GILLETTE AND THE GILLETTE
PRACTICE. Gillette and the Gillette Practice, jointly and severally, hereby
represent and warrant to ECCA, Visionworks and Enclave as follows:

              (a)    OAF is owned 93.3% by Gillette, 3.4% by Dr. Mark Beiler
and 3.3% by Dr. Mark Sarno. The Joint Practice is wholly-owned by Smith and
Gillette. Gillette and the Gillette Practice acknowledge that they have
received adequate consideration for the execution hereof and the performance
of their obligations hereunder. Further, Gillette and the Gillette Practice
acknowledge that the ECCA Companies have relied upon the covenants,
representations and warranties contained herein in connection with their
agreement to enter into this Agreement.

              (b)    Gillette and the Gillette Practice have had the
opportunity to discuss the terms of this Agreement with their legal counsel.
To the knowledge of Gillette and the Gillette Practice, all of the
representations and warranties of Vision 21, Block Vision, MEC, Vision
21-Tampa Bay, Vision 21-Wisconsin herein are true and correct.

              (c)    To the knowledge of Gillette and the Gillette Practice,
neither the execution and delivery of this Agreement nor the consummation or
performance of any of the transactions contemplated herein, will, directly or
indirectly (with or without notice or lapse of time):

                     (i)    contravene, conflict with, or result in a violation
       of (A) any provision of the Organizational Documents of the Gillette
       Practice, or (B) any resolution adopted by the Board of Directors or
       Shareholders of the Gillette Practice;

                     (ii)   contravene, conflict with, or result in a violation
       of or give any Governmental Body or other Person the right to challenge
       any of the transactions contemplated hereby or to exercise any remedy or
       obtain any relief under, any Legal Requirement or any Order to which
       Gillette or the Gillette Practice, may be subject; or

                     (iii)  contravene, conflict with, or result in a violation
       or breach of any provision of, or give any Person the right to declare a
       default or exercise any remedy under, or to accelerate the maturity or
       performance of, or to cancel, terminate, or modify, any contract or
       commitment.

       4.06   REPRESENTATIONS AND WARRANTIES OF SMITH AND THE SMITH PRACTICE.
Smith and the Smith Practice, jointly and severally, hereby represent and
warrant to ECCA, Visionworks and Enclave as follows:

                                       12
<PAGE>

              (a)    Smith is the sole owner of the Smith Practice (other
than the Joint Practice). The Joint Practice is wholly-owned by Smith and
Gillette. Smith and the Smith Practice acknowledge that they have received
adequate consideration for the execution hereof and the performance of their
obligations hereunder. Further, Smith and the Smith Practice acknowledge that
the ECCA Companies have relied upon the covenants, representations and
warranties contained herein in connection with their agreement to enter into
this Agreement.

              (b)    Smith and the Smith Practice have had the opportunity to
discuss the terms of this Agreement with their legal counsel. To the
knowledge of Smith and the Smith Practice, all of the representations and
warranties of Vision 21, Block Vision, Vision 21-Tampa Bay, Vision
21-Wisconsin and MEC herein are true and correct.

              (c)    To the knowledge of Smith and the Smith Practice,
neither the execution and delivery of this Agreement nor the consummation or
performance of any of the transactions contemplated herein, will, directly or
indirectly (with or without notice or lapse of time):

                     (i)    contravene, conflict with, or result in a violation
       of (A) any provision of the Organizational Documents of the Smith
       Practice, or (B) any resolution adopted by the Board of Directors or
       shareholders of the Smith Practice;

                     (ii)   contravene, conflict with, or result in a violation
       of, or give any Governmental Body or other Person the right to challenge
       any of the transactions contemplated hereby or to exercise any remedy or
       obtain any relief under, any Legal Requirement or any Order to which
       Smith or the Smith Practice, may be subject; or

                     (iii)  contravene, conflict with, or result in a violation
       or breach of any provision of, or give any Person the right to declare a
       default or exercise any remedy under, or to accelerate the maturity or
       performance of, or to cancel, terminate, or modify, any contract or
       commitment.

       4.07   REPRESENTATIONS AND WARRANTIES OF ECCA, ENCLAVE AND VISIONWORKS.
ECCA, Visionworks and Enclave, jointly and severally, hereby represent and
warrant to Vision 21, Block Vision, MEC, Vision 21-Tampa Bay, Vision
21-Wisconsin or TCOL as follows:

              (a)    EXISTENCE, GOOD STANDING AND AUTHORITY. Each of ECCA,
Visionworks and Enclave is a corporation duly organized, validly existing and
in good standing under the laws of its respective state of incorporation.
Each of ECCA, Visionworks and Enclave has the power to own its respective
properties and to carry on its respective businesses as now being conducted.
Each of ECCA, Visionworks and Enclave is duly qualified to do business in all
jurisdiction(s) in which the character or location of the properties owned or
leased by it or the nature of the businesses conducted by it makes such
qualification necessary, except where the failure to be so qualified would
not have a material adverse effect on such company. Each of ECCA, Visionworks
and Enclave has full legal right, power and authority to execute and deliver
this Agreement, to perform its obligations hereunder.

              (b)    AUTHORIZATION, ETC. The Board of Directors and
shareholders of each of ECCA, Visionworks and Enclave have taken all actions
required by law, its respective Organizational Documents or otherwise to
authorize the execution and delivery by such Party, of this Agreement and the
other agreements contemplated hereunder to which it is a party, and the
performance of such Party's obligations hereunder and thereunder. This
Agreement has been duly executed and delivered by each of ECCA, Visionworks
and Enclave and is the legal, valid and binding obligations of such Party
enforceable against it according to its terms.

                                       13
<PAGE>

              (c)    NO CONFLICT. Neither the execution and delivery of this
Agreement nor the consummation or performance of any of the transactions
contemplated herein, will, directly or indirectly(with or without notice or
lapse of time):

                     (i)    contravene, conflict with, or result in a violation
       of (A) any provision of the Organizational Documents of any of ECCA,
       Visionworks or Enclave, or (B) any resolution adopted by the Board of
       Directors or shareholders of any of ECCA, Visionworks and Enclave;

                     (ii)   contravene, conflict with, or result in a violation
       of, or give any Governmental Body or other Person the right to challenge
       any of the transactions contemplated hereby or to exercise any remedy or
       obtain any relief under, any Legal Requirement or any Order to which any
       of ECCA, Visionworks or Enclave may be subject; or

                     (iii)  contravene, conflict with, or result in a violation
       or breach of any provision of, or give any Person the right to declare a
       default or exercise any remedy under, or to accelerate the maturity or
       performance of, or to cancel, terminate, or modify, any contract or
       commitment.

              Except for consents and notices received or given, none of
ECCA, Visionworks or Enclave is, or will it be, required to give any notice
to or obtain any consent from any Person in connection with the execution and
delivery of this Agreement or the consummation or performance of the
transactions contemplated hereby.

              (d)    DISCLOSURE. To the knowledge of ECCA, Visionworks and
Enclave, none of this Agreement, or any schedule, exhibit or certificate
delivered in accordance with the terms hereof or any document or statement in
writing which has been supplied by or on behalf of Vision 21, Block Vision,
MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL in connection with the
transactions contemplated hereby contains any untrue statement of a material
fact or omits any statement of a material fact necessary in order to make the
statements contained herein or therein, in light of the circumstances under
which they were made, not misleading.

                                    ARTICLE V
                                 INDEMNIFICATION

       5.01   INDEMNIFICATION AND PAYMENT OF DAMAGES BY VISION 21, BLOCK
VISION, MEC, VISION 21-TAMPA BAY, VISION 21-WISCONSIN AND TCOL. Vision 21,
Block Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL, jointly
and severally, will indemnify and hold harmless the ECCA Companies and their
respective representatives, shareholders, directors, officers, controlling
persons and Affiliates (collectively, the "ECCA Indemnified Persons") for,
and will pay to the ECCA Indemnified Persons the amount of any actual loss,
liability, claim or damage or expense (including costs of investigation and
defense and reasonable attorneys' fees), whether or not involving a
third-party claim (collectively, "Damages"), arising, directly or indirectly,
from or in connection with any breach of (i) any representation or warranty
made by Vision 21, Block Vision, MEC, Vision 21-Tampa Bay, Vision
21-Wisconsin or TCOL in this Agreement or any schedule attached hereto, or
any other certificate or document delivered by Vision 21, Block Vision, MEC,
Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL pursuant to this Agreement,
(ii) any covenant or obligation of Vision 21, Block Vision, MEC, Vision
21-Tampa Bay, Vision 21-Wisconsin or TCOL in this Agreement or any document
executed pursuant to this Agreement, or (iii) any claim by any third party
against any of the ECCA Indemnified

                                       14
<PAGE>

Persons arising out of the termination of the Sublease Agreements and the
vacating of the premises hereunder.

       5.02   INDEMNIFICATION AND PAYMENT OF DAMAGES BY VISION 21, BLOCK
VISION, MEC, VISION 21-TAMPA BAY, VISION 21-WISCONSIN AND TCOL OF GILLETTE
INDEMNIFIED PERSONS. Vision 21, Block Vision, MEC, Vision 21-Tampa Bay,
Vision 21-Wisconsin or TCOL, jointly and severally, will indemnify and hold
harmless Gillette and the Gillette Practice and their respective
representatives, shareholders, directors, officers, controlling persons and
Affiliates (collectively, the "Gillette Indemnified Persons") for, and will
pay to the Gillette Indemnified Persons the amount of any Damages arising,
directly or indirectly, from or in connection with any breach of (i) any
representation or warranty made by Vision 21, Block Vision, MEC, Vision
21-Tampa Bay, Vision 21-Wisconsin or TCOL in this Agreement or any schedule
attached hereto, or any other certificate or document delivered by Vision 21,
Block Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL pursuant
to this Agreement, or (iii) any claim by any third party against any of the
Gillette Indemnified Persons arising out of the termination of the Sublease
Agreements and the vacating of the premises hereunder.

       5.03   INDEMNIFICATION AND PAYMENT OF DAMAGES BY VISION 21, BLOCK
VISION, MEC, VISION 21-TAMPA BAY, VISION 21-WISCONSIN AND TCOL OF SMITH
INDEMNIFIED PERSONS. Vision 21, Block Vision, MEC, Vision 21-Tampa Bay,
Vision 21-Wisconsin or TCOL, jointly and severally, will indemnify and hold
harmless Smith and the Smith Practice and their respective representatives,
shareholders, directors, officers, controlling persons and Affiliates
(collectively, the "Smith Indemnified Persons") for, and will pay to the
Smith Indemnified Persons the amount of any Damages arising, directly or
indirectly, from, or in connection with, any breach of (i) any representation
or warranty made by Vision 21, Block Vision, MEC, Vision 21-Tampa Bay, Vision
21-Wisconsin or TCOL in this Agreement or any schedule attached hereto, or
any other certificate or document delivered by Vision 21, Block Vision, MEC,
Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL pursuant to this Agreement,
(ii) any covenant or obligation of Vision 21, Block Vision, MEC, Vision
21-Tampa Bay, Vision 21-Wisconsin or TCOL in this Agreement or any document
executed pursuant to this Agreement, or (iii) any claim by any third party
against any of the Smith Indemnified Persons arising out of the termination
of the Sublease Agreements and the vacating of the premises hereunder.

       5.04   INDEMNIFICATION AND PAYMENT OF DAMAGES BY ECCA, ENCLAVE AND
VISIONWORKS. ECCA, Enclave and Visionworks, jointly and severally, will
indemnify and hold harmless Vision 21, Block Vision, MEC, Vision 21-Tampa
Bay, Vision 21-Wisconsin and TCOL and their respective representatives,
shareholders, directors, officers, controlling persons and Affiliates
(collectively, the "Vision 21 Indemnified Persons") for, and will pay to the
Vision 21 Indemnified Persons the amount of any Damages, arising, directly or
indirectly, from or in connection with any breach of (i) any representation
or warranty made by ECCA, Enclave or Visionworks in this Agreement or any
schedule attached hereto, or any other certificate or document delivered by
ECCA, Enclave or Visionworks pursuant to this Agreement or (ii) any covenant
or obligation of ECCA, Enclave and Visionworks in this Agreement or any
document executed pursuant to this Agreement.

       5.05   INDEMNIFICATION AND PAYMENT OF DAMAGES BY ECCA, ENCLAVE AND
VISIONWORKS OF GILLETTE INDEMNIFIED PERSONS. ECCA, Enclave and Visionworks,
jointly and severally, will indemnify and hold harmless Gillette and the
Gillette Practice and their respective representatives, shareholders,
directors, officers, controlling persons and Affiliates (collectively, the
"Gillette Indemnified Persons") for, and will pay to the Gillette Indemnified
Persons the amount of any Damages, arising, directly or indirectly, from, or
in connection with, any breach of (i) any representation or warranty made by
ECCA, Enclave or Visionworks in this Agreement, or any schedule attached
hereto, or any other certificate or document delivered by ECCA, Enclave or
Visionworks pursuant to this Agreement or (ii) any covenant or obligation of
ECCA, Enclave and Visionworks in this Agreement or any document executed
pursuant to this Agreement.

                                       15
<PAGE>

       5.06   INDEMNIFICATION AND PAYMENT OF DAMAGES BY ECCA, ENCLAVE AND
VISIONWORKS OF SMITH INDEMNIFIED PERSONS. ECCA, Enclave and Visionworks,
jointly and severally, will indemnify and hold harmless Smith and the Smith
Practice and their respective representatives, shareholders, directors,
officers, controlling persons and Affiliates (collectively, the "Smith
Indemnified Persons") for, and will pay to the Smith Indemnified Persons the
amount of any Damages, arising, directly or indirectly, from, or in
connection with, any breach of (i) any representation or warranty made by
ECCA, Enclave or Visionworks in this Agreement or any schedule attached
hereto, or any other certificate or document delivered by ECCA, Enclave or
Visionworks pursuant to this Agreement or (ii) any covenant or obligation of
ECCA, Enclave and Visionworks in this Agreement or any document executed
pursuant to this Agreement.

       5.07   INDEMNIFICATION AND PAYMENT OF DAMAGES BY GILLETTE AND THE
GILLETTE PRACTICE. Gillette and the Gillette Practice, jointly and severally,
will indemnify and hold harmless the ECCA Indemnified Persons and the Vision
21 Indemnified Persons for, and will pay to the ECCA Indemnified Persons and
the Vision 21 Indemnified Persons the amount of any Damages, arising,
directly or indirectly, from or in connection with any breach of (i) any
representation or warranty made by Gillette or the Gillette Practice in this
Agreement or any schedule attached hereto, or any other certificate or
document delivered by Gillette or the Gillette Practice pursuant to this
Agreement or (ii) any covenant or obligation of Gillette or the Gillette
Practice in this Agreement or any document executed pursuant to this
Agreement.

       5.08   INDEMNIFICATION AND PAYMENT OF DAMAGES BY SMITH AND THE SMITH
PRACTICE. Smith and the Smith Practice, jointly and severally, will indemnify
and hold harmless the ECCA Indemnified Persons and the Vision 21 Indemnified
Persons for, and will pay to the ECCA Indemnified Persons and the Vision 21
Indemnified Persons the amount of any Damages, arising, directly or
indirectly, from or in connection with any breach of (i) any representation
or warranty made by Smith or the Smith Practice in this Agreement or any
schedule attached hereto, or any other certificate or document delivered by
Smith or the Smith Practice pursuant to this Agreement or (ii) any covenant
or obligation of Smith or the Smith Practice in this Agreement or any
document executed pursuant to this Agreement.

       5.09   RELEASE BY VISION 21, BLOCK VISION, MEC, VISION 21-TAMPA BAY,
VISION 21-WISCONSIN AND TCOL. Vision 21, BlockVision, MEC, Vision
21-Wisconsin and TCOL and their respective successors and assigns do hereby
release and forever discharge each of ECCA Companies and their respective
officers, directors, shareholders, partners, agents, employees, affiliated
entities, affiliated professionals, successors and assigns, of and from any
and all claims, demands, liabilities, costs, expenses, actions and causes of
action of whatsoever kind or nature, whether in law or equity, from the
beginning of time to the date of this Agreement, which Vision 21, Block
Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin and TCOL may have or
claim to have, whether known to them or not, against any of the ECCA
Companies with respect to (i) the rental amounts due and other obligations
under the Sublease Agreements, the termination of the Sublease Agreements and
the continued occupancy of the Optometric Premises through the applicable
Transition Dates, (ii) the amounts due with respect to the Promissory Notes
or the Trademark License Agreement, (iii) the Strategic Alliance Agreement,
and (iv) the liabilities and obligations owed by ECCA to any of the Vision 21
Companies under the Optical Technician Letter Agreement. Notwithstanding the
foregoing, the Parties acknowledge that the foregoing release is a specific
release and in no event shall such release apply to (i) the obligations and
duties under this Agreement, (ii) any claims that Vision 21, Block Vision,
MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin or TCOL may have against an
ECCA Company, or obligations of any of the ECCA Companies, arising out of a
claim or action by a Person who is not a party to this Agreement, (iii) the
obligations and duties under the Asset Purchase Agreement (other than with
respect to the reduction of the amount of the purchase price adjustment
pursuant to SECTION 3.02 hereof), (iv) any other agreement or obligation
among the Parties other than the matters specifically referred to in the
preceding sentence or (v) any claim arising from and after date hereof.

                                       16
<PAGE>

       5.10   RELEASE BY GILLETTE, SMITH, GILLETTE PRACTICE AND THE SMITH
PRACTICE. Gillette, Smith, Gillette Practice and the Smith Practice and their
respective successors and assigns do hereby release and forever discharge
each of the ECCA Companies, and their respective officers, directors,
shareholders, partners, agents, employees, affiliated entities, affiliated
professionals, successors and assigns, of and from any and all claims,
demands, liabilities, costs, expenses, actions and causes of action of
whatsoever kind or nature, whether in law or equity, from the beginning of
time to the date of this Agreement, which Gillette, Smith, Gillette Practice
and the Smith Practice may have or claim to have, whether known to them or
not, against any of the ECCA Companies with respect to (i) the rental amounts
due and other obligations under the Sublease Agreements, the termination of
the Sublease Agreements and the continued occupancy of the Optometric
Premises to the applicable Transition Dates, (ii) the amounts due with
respect to the Promissory Notes or the Trademark License Agreement and (iii)
the amounts due and other obligations under that certain letter agreement
between ECCA and Vision 21 relating to the reimbursement for optical
technicians in connection with the Vision 21 Practices. Notwithstanding the
foregoing, the Parties acknowledge that the foregoing release is a specific
release and in no event shall such release apply to (i) the obligations and
duties under this Agreement, (ii) any claims that Gillette, Smith, Gillette
Practice or the Smith Practice may have against an ECCA Company, or
obligations of any of the ECCA Companies, arising out of a claim or action by
a Person who is not a party to this Agreement, (iii) any other agreement or
obligation among the Parties other than the matters specifically referred to
in the preceding sentence or (iv) any claim arising from and after date
hereof.

       5.11   RELEASE BY ECCA, ENCLAVE AND VISION WORKS. ECCA, Enclave and
Visionworks and their respective successors and assigns do hereby release and
forever discharge each of Vision 21, Block Vision, MEC, Vision 21-Tampa Bay,
Vision 21-Wisconsin, TCOL, Gillette, Smith, the Gillette Practice and the
Smith Practice, and their respective officers, directors, shareholders,
partners, agents, employees, affiliated entities, affiliated professionals,
successors and assigns, of and from any and all claims, demands, liabilities,
costs, expenses, actions and causes of action of whatsoever kind or nature,
whether in law or equity, from the beginning of time to the date of this
Agreement, which ECCA, Enclave and Visionworks may have or claim to have,
whether known to them or not, against Vision 21, Block Vision, MEC, Vision
21-Tampa Bay, Vision 21-Wisconsin and TCOL with respect to (i) the rental
amounts due and other obligations under the Sublease Agreements, the
termination of the Sublease Agreements and the continued occupancy of the
Optometric Premises to the applicable Transition Dates, (ii) the amounts due
with respect to the Promissory Notes or the Trademark License Agreement,
(iii) the Strategic Alliance Agreement and (iv) the obligation of Vision 21
to the ECCA Companies to provide services under the Optical Technician Letter
Agreement. Notwithstanding the foregoing, the Parties acknowledge that the
foregoing release is a specific release and in no event shall such release
apply to (i) the obligations and duties under this Agreement, (ii) any claims
that the ECCA Companies may have against any of the Vision 21 Companies,
Gillette, Smith, the Gillette Practice or the Smith Practice, or obligations
of any of the Vision 21 Companies, Gillette, Smith, the Gillette Practice or
the Smith Practice, arising out of a claim or action by a Person who is not a
party to this Agreement, (iii) the obligations and duties under the Asset
Purchase Agreement (other than with respect to the reduction of the amount of
the purchase price adjustment pursuant to SECTION 3.02 hereof), (iv) any
other agreement or obligation among the Parties other than the matters
specifically referred to in the preceding sentence or (v) any claim arising
from and after date hereof.

       5.12   RELEASE OF GILLETTE, SMITH, GILLETTE PRACTICE AND SMITH
PRACTICE BY VISION 21, BLOCK VISION, MEC, VISION 21-TAMPA BAY,VISION
21-WISCONSIN AND TCOL. Vision 21, Block Vision, MEC, Vision 21-Tampa Bay,
Vision 21-Wisconsin and TCOL and their respective successors and assigns do
hereby release and forever discharge each of Gillette, Smith, the Gillette
Practice and the Smith Practice and their respective officers, directors,
shareholders, partners, agents, employees, affiliated entities, affiliated
professionals, successors and assigns, of and from any and all claims,
demands, liabilities, costs, expenses, actions and causes of action of
whatsoever kind or nature, whether in law or in equity, from the beginning of
time to the date of this Agreement, which Vision 21, Block Vision, MEC,
Vision

                                       17
<PAGE>

21-Tampa Bay, Vision 21-Wisconsin and TCOL may have or claim to have, whether
known to them or not, against Gillette, Smith, the Gillette Practice and the
Smith Practice with respect to any of the business management agreements and
related agreements, except for the obligations under this Agreement.

       5.13   RELEASE OF THE VISION 21 COMPANIES BY GILLETTE, SMITH, THE
GILLETTE PRACTICE AND THE SMITH PRACTICE. Gillette, Smith, the Gillette
Practice and the Smith Practice and their respective successors and assigns
do hereby release and forever discharge each of the Vision 21 Companies and
their respective officers, directors, shareholders, partners, agents,
employees, affiliated entities, affiliated professionals, successors and
assigns, of and from any and all claims, demands, liabilities, costs,
expenses, actions and causes of action of whatsoever kind or nature, whether
in law or equity, from the beginning of time to the date of this Agreement,
which Gillette, Smith, the Gillette Practice and the Smith Practice may have
or claim to have, whether known to them or not, against the Vision 21
Companies with respect to any of the business management agreements and
related agreements, except for the obligations under this Agreement.

       5.14.  RELEASE OF BANK OF MONTREAL BY ECCA, ENCLAVE AND VISIONWORKS.
Effective upon the consummation of Vision 21's restructuring of its bank
credit facility on terms that do not materially adversely affect the rights
of ECCA in a way that is materially different from the restructuring term
sheet attached to the Agreement as EXHIBIT L, ECCA, Enclave and Visionworks
and their respective successors and assigns do hereby release and forever
discharge each of Bank of Montreal, Bank One Texas, N.A., Pacifica Partners
I, L.P., Pilgrim Prime Rate Trust, Pilgrim America High Income Investments
Ltd. and Merrill Lynch Business Financial Services, Inc., and their
respective officers, directors, shareholders, partners, agents, employees,
affiliated entities, affiliated professionals, successors and assigns
(collectively, the "Banks"), of and from any and all claims, demands,
liabilities, costs, expenses, actions and causes of action of whatsoever kind
or nature, whether in law or equity, from the beginning of time to the date
of this Agreement, which ECCA, Enclave and Visionworks may have or claim to
have, whether known to them or not, against the Banks, individually or
collectively, to the extent such claim, demand, liability, costs, expense,
action and cause of action relates to or arises out of any transaction or
relationship between any of the Vision 21 Companies and any of the ECCA
Companies and the foregoing release shall not be a release of any of the
Banks obligations under the consent letter executed by the Banks consenting
to the transactions contemplated herein . The Parties acknowledge that the
foregoing is intended to be a general release.

                                   ARTICLE VI
                                  MISCELLANEOUS

       6.01   PAYMENTS; TIME IS OF THE ESSENCE. All payments hereunder shall
be by wire transfer of immediately available funds to a bank account
designated by the recipient of such payment. Time is of the essence in the
performance of this Agreement.

       6.02   ARBITRATION; WAIVER OF TRIAL BY JURY (a) Any and every dispute
of any nature whatsoever that may arise between any of the Parties, whether
founded in contract, statute, tort, fraud, misrepresentation, discrimination
or any other legal theory, including, but not limited to, disputes relating
to or involving the construction, performance or breach of this Agreement, or
any schedule, certificate or other document delivered by any Party hereto, or
any other agreement between the Parties, whether entered into prior to, on,
or subsequent to the date of this Agreement, or those arising under any
federal, state or local law, regulation or ordinance, shall be determined by
binding arbitration in accordance with the then current commercial
arbitration rules of the American Arbitration Association, to the extent such
rules do not conflict with the provisions of this paragraph. If the amount in
controversy in the arbitration exceeds Two Hundred Fifty Thousand Dollars
($250,000), exclusive of interest, attorneys' fees and costs, the arbitration
shall be conducted by a panel of three (3) neutral arbitrators. Otherwise,
the

                                       18
<PAGE>

arbitration shall be conducted by a single neutral arbitrator. The Parties
shall endeavor to select neutral arbitrators by mutual agreement. If such
agreement cannot be reached within thirty (30) calendar days after a dispute
has arisen which is to be decided by arbitration, any Party or the Parties
jointly shall request the American Arbitration Association to submit to each
Party an identical panel of fifteen (15) persons. Alternate strikes shall be
made to the panel, commencing with the Party bringing the claim, until the
names of three (3) persons remain, or one (1) person if the case is to be
heard by a single arbitrator. The Parties may, however, by mutual agreement,
request the American Arbitration Association to submit additional panels of
possible arbitrators. The person(s) thus remaining shall be the arbitrator(s)
for such arbitration. If three (3) arbitrators are selected, the arbitrators
shall elect a chairperson to preside at all meetings and hearings. The
arbitrator(s), or a majority of them, shall have the power to determine all
matters incident to the conduct of the arbitration, including without
limitation all procedural and evidentiary matters and the scheduling of any
hearing. The award made by a majority of the arbitrators shall be final and
binding upon the Parties thereto and the subject matter. The arbitration
shall be governed by the United States Arbitration Act, 9 U.S.C. Sections
1-16, and judgment upon the award rendered by the arbitrator(s) may be
entered by any court having jurisdiction thereof. The arbitrators shall have
authority to award damages, arbitration costs, attorneys' fees, declaratory
relief and permanent injunctive relief, if applicable, in accordance with the
terms of this Agreement. Unless otherwise agreed by the Parties, the
arbitration shall be held in San Antonio, Texas. This SECTION 6.02 shall not
prevent any of the Parties from seeking a temporary restraining order or
temporary or preliminary injunctive relief from a court of competent
jurisdiction in order to protect its rights under this Agreement. In the
event a Party seeks such injunctive relief pursuant to this Agreement, such
action shall not constitute a waiver of the provisions of this SECTION 6.02,
which shall continue to govern any and every dispute between the Parties,
including without limitation the right to damages, permanent injunctive
relief and any other remedy, at law or in equity.

              (b)    EACH OF THE PARTIES TO THIS AGREEMENT WAIVES ANY RIGHT
TO TRIAL BY JURY OF ANY DISPUTE OF ANY NATURE WHATSOEVER THAT MAY ARISE
BETWEEN THEM, INCLUDING, BUT NOT LIMITED TO, THOSE DISPUTES RELATING TO OR
INVOLVING, IN ANY WAY THE CONSTRUCTION, PERFORMANCE OR BREACH OF THIS
AGREEMENT OR ANY OTHER AGREEMENT BETWEEN THE PARTIES, THE PROVISIONS OF ANY
FEDERAL, STATE OR LOCAL LAW, REGULATION OR ORDINANCE NOTWITHSTANDING. By
execution of this agreement, each of the parties hereto acknowledges and
agrees that it has had an opportunity to consult with legal counsel and that
it knowingly and voluntarily waives any right to a trial by jury of any
dispute pertaining to or relating in any way to the transactions contemplated
by this Agreement, the provisions of any federal, state or local law,
regulation or ordinance notwithstanding.

       6.03   EXPENSES. Each Party shall pay its own expenses relating to
this Agreement including, without limitation, the fees and expenses of their
respective counsel and financial advisors.

       6.04   GOVERNING LAW. The interpretation and construction of this
Agreement and all matters relating hereto, shall be governed by the internal
laws of the State of Texas without regard to conflict of laws principles.

       6.05   ENFORCEMENT; VENUE; SERVICE OF PROCESS. In the event any Party
shall seek enforcement of any covenant, warranty or other term or provision
of this Agreement or seek to recover damages for the breach thereof, the
Party which prevails in such proceedings shall be entitled to recover
reasonable attorneys' fees and expenses actually incurred by it in connection
therewith. Subject to SECTION 6.02 and without waiving the same, the Parties
agree that this Agreement is performable in Bexar County, Texas and that the
sole and exclusive venue for any proceeding involving any claim arising under
or relating to this Agreement shall be in Bexar County, Texas. The Parties
agree that the service of process or any

                                       19
<PAGE>

other papers upon any of them by any of the methods specified in and in
accordance with SECTION 6.07 (other than by facsimile) shall be deemed good,
proper, and effective service upon them.

       6.06   CAPTIONS; REFERENCES. The Article and Section captions used
herein are for reference purposes only, and shall not in any way affect the
meaning or interpretation of this Agreement. References to an "Article" or
"Section" when used without further attribution shall refer to the particular
article or section of this Agreement.

       6.07   NOTICES. Any notice or other communications required or
permitted hereunder shall be in writing and, unless otherwise provided
herein, shall be deemed to have been duly given upon delivery in person, by
facsimile, by overnight courier or by certified or registered mail, return
receipt requested, as follows:

       If to any of the
       Vision 21 Companies:        Vision Twenty-One, Inc.
                                   7360 Bryan Dairy Road
                                   Largo, Florida 33777
                                   Attention: Bruce S. Maller
                                   Facsimile: (727) 547-4371

              With a copy to:      Shumaker, Loop & Kendrick, LLP
                                   101 E. Kennedy Boulevard
                                   Suite 2800
                                   Tampa, Florida  33602
                                   Attention:  Darrell C. Smith, Esquire
                                   Facsimile:  (813) 229-1660

       If to any of the
       ECCA Companies:             Eye Care Centers of America, Inc.
                                   11103 West Avenue
                                   San Antonio, Texas 78213-1392
                                   Attention:  Bernard W. Andrews, CEO
                                   Facsimile: (210) 524-6996

              With a copy to:      Cox & Smith Incorporated
                                   112 E. Pecan, Suite 1800
                                   San Antonio, Texas 78205
                                   Attention: J. Daniel Harkins or
                                     Steven A. Elder
                                   Facsimile: (210)226-8395

       If to Gillette or the
       Gillette Practices:         Theodore N. Gillette
                                   10809 Indian Hills Court
                                   Largo, Florida 33777

       If to Smith or the
       Smith Practices:            Paul O. Smith, O.D.
                                   541 64th Avenue
                                   St. Pete Beach, Florida  33706

or at such other address or telecopy number as shall have been furnished in
writing by any such Party, except that such notice of such change shall be
effective only upon receipt. Each such notice or other communication shall be
effective when received or, if given by mail, when delivered at the address
specified in this SECTION 6.07 or on the fifth business day following the date
on which such

                                       20
<PAGE>

communication is posted, whichever occurs first. Notwithstanding any
provision in this Agreement to the contrary, any notice properly delivered to
ECCA shall be deemed properly delivered to all of the ECCA Companies.
Notwithstanding any provision in this Agreement to the contrary, any notice
properly delivered to Vision 21 shall be deemed properly delivered to all of
the Vision 21 Companies.

       6.08   PARTIES IN INTEREST. This Agreement shall be binding upon and
shall inure to the benefit of the Parties and their respective successors and
permitted assigns. This Agreement may not be transferred, assigned, pledged
or hypothecated by Vision 21, Block Vision, MEC, Vision 21-Tampa Bay, Vision
21-Wisconsin, TCOL, Gillette, Smith, the Gillette Practice or the Smith
Practice without the consent of ECCA. Each of Vision 21, Block Vision, MEC,
Vision 21-Tampa Bay, Vision 21-Wisconsin and TCOL agrees that in the event of
any transfer by any such company of all or substantially all of its assets
(or all or substantially all of the assets of a operating division), the
acquirer of such assets shall be required to assume the Company's obligations
hereunder.

       6.09   COUNTERPARTS. This Agreement may be executed in two or more
counterparts, all of which taken together shall constitute one instrument.

       6.10   ENTIRE AGREEMENT. This Agreement, including the other documents
referred to herein which form a part hereof or any other written agreements
that the Parties enter into pursuant to or relating to the transactions
contemplated herein, contains the entire understanding of the Parties with
respect to the subject matter contained herein and therein. This Agreement
supersedes all prior agreements and understandings between the Parties with
respect to such subject matter. All exhibits and schedules referred to herein
and attached hereto are incorporated herein by reference. The Parties
acknowledge that except as expressly provided herein, the Asset Purchase
Agreement and all rights and obligations thereunder shall not be amended or
modified by the terms of this Agreement and shall remain in full force and
effect.

       6.11   AMENDMENTS. This Agreement may not be changed orally, but only
by an agreement in writing signed by the Parties.

       6.12   SEVERABILITY. Whenever possible each provision and term of this
Agreement will be interpreted in a manner to be effective and valid but if
any provision or term of this Agreement is held to be prohibited by law or
invalid, then such provision or term will be ineffective only to the extent
of such prohibition or invalidity, without invalidating or affecting in any
manner whatsoever the remainder of such provision or term or the remaining
provisions or terms of this Agreement. If any covenants or any portion
thereof set forth in this Agreement is held by a court of competent
jurisdiction to contain limitations as to duration, geographical area or
scope of activity to be restrained that are not reasonable and impose a
greater restraint than is necessary to protect the goodwill or other business
interests of the affected party, the same shall not affect the remainder of
the covenant or covenants contained therein, which shall be given full
effect, without regard to the invalid portions, and any court having
jurisdiction shall reform the covenants to the extent necessary to cause the
limitations contained therein as to duration, geographical area and scope of
activity to be restrained to be reasonable and to impose a restraint that is
not greater than necessary to protect the goodwill or other business
interests of the affected party and enforce the covenants as reformed.

       6.13   JOINT PREPARATION. This Agreement has been prepared by the
joint efforts of the respective attorneys to each of the Parties. No
provision of this Agreement shall be construed on the basis that such Party
was the author of such provision.

       6.14   WAIVER. The rights and remedies of the Parties are cumulative
and not alternative. Neither the failure nor any delay by any Party in
exercising any right, power,

                                       21
<PAGE>

or privilege under this Agreement or the documents referred to in this
Agreement will operate as a waiver of such right, power, or privilege, and no
single or partial exercise of any such right, power, or privilege will
preclude any other or further exercise of such right, power, or privilege or
the exercise of any other right, power, or privilege. To the maximum extent
permitted by applicable law, (a) no claim or right arising out of this
Agreement or the documents referred to in this Agreement can be discharged by
one Party, in whole or in part, by a waiver or renunciation of the claim or
right unless provided in writing signed by the other parties; (b) no waiver
that may be given by a Party will be applicable except in the specific
instance for which it is given; and (c) no notice to or demand on one Party
will be deemed to be a waiver of any obligation of such Party or of the right
of the Party giving such notice or demand to take further action without
notice or demand as provided in this Agreement or the documents referred to
in this Agreement.

       6.15   DEFINITIONS. The following terms shall have the meanings
ascribed to them:

              (a)    "AFFILIATE" as to any person or entity shall mean any
entity or person that directly or indirectly through one or more
intermediaries controls, is controlled by or is under common control with,
the specified person or entity. The term "control" for this purpose shall
mean the ability, whether by the ownership of shares or other equity
interest, by contract or otherwise, to elect a majority of the directors of a
corporation, to independently select the general partner of a partnership, or
otherwise to have the power independently to remove and then select a
majority of those persons exercising governing authority over an entity.
"Control" shall be conclusively presumed in the case of direct or indirect
ownership of 50% or more of the equity interest by such person or entity.
Notwithstanding the foregoing, in no event shall the term "Affiliate" with
respect to ECCA include Thomas H. Lee Company or any of its Affiliates (other
than ECCA and its subsidiaries).

              (b)    "ENCUMBRANCE" means any charge, claim, community
property interest, condition, covenant, equitable interest including any
equitable servitude, lien, option, pledge, security interest, right of first
refusal, or restriction of any kind, including any restriction on use,
voting, transfer, receipt of income, or exercise of any other attribute of
ownership.

              (c)    "GOVERNMENTAL BODY" means any:

                     (i)    nation, state, county, city, town, village,
       district, or other jurisdiction of any nature;

                     (ii)   federal, state, local, municipal, foreign, or other
       government;

                     (iii)  governmental or quasi-governmental authority of any
       nature (including any governmental agency, branch, department, official,
       or entity and any court or other tribunal);

                     (iv)   multi-national organization or body; or

                     (v)    body exercising, or entitled to exercise, any
       administrative, executive, judicial, legislative, police, regulatory, or
       taxing authority or power of any nature.

       (d)    "LEGAL REQUIREMENT" means any federal, state, local, municipal,
foreign, international, multinational, or other administrative order,
constitution, law, ordinance, principle of common law, regulation, statute, or
treaty.

                                       22
<PAGE>

       (e)    "ORGANIZATIONAL DOCUMENTS" means (a) the articles or
certificate of incorporation and the bylaws of a corporation; (b) the
partnership agreement and any statement of partnership of a general
partnership; (c) the limited partnership agreement and the certificate of
limited partnership of a limited partnership; (d) the articles of
organization and organizational agreement of a limited liability company, (e)
any charter or similar document adopted or filed in connection with the
creation, formation, or organization of a Person; and (f) any amendment to
any of the foregoing.

       (f)    "ORDER" means any award, decision, injunction, judgment, order,
ruling, subpoena, or verdict entered, issued, made, or rendered by any court,
administrative agency, or other Governmental Body or by any arbitrator.

       (g)    "PARTIES" means ECCA, Enclave, Visionworks, Vision 21, Block
Vision, MEC, Vision 21-Tampa Bay, Vision 21-Wisconsin, TCOL, Gillette, Smith,
the Gillette Practice and the Smith Practice.

       (h)    "PERSON" means any individual, corporation (including any
non-profit corporation), general or limited partnership, limited liability
company, joint venture, estate, trust, association, organization, labor
union, or other entity or Governmental Body.

       (i)    "PROCEEDING" means any action, arbitration, audit, charge,
complaint, hearing, inquiry, investigation, litigation, or suit (whether
civil or criminal, judicial, administrative or regulatory, formal or
informal, at law or in equity) commenced, brought, conducted, or heard by or
before, or otherwise involving, any Governmental Body or arbitrator.

       6.16   DISCLAIMER OF WARRANTIES. THE PARTIES ACKNOWLEDGE AND AGREE
THAT THE OWNED OPTOMETRIC EQUIPMENT AND LEASED OPTOMETRIC EQUIPMENT ARE BEING
TRANSFERRED "AS IS, WHERE IS" WITH NO WARRANTIES AND REPRESENTATIONS OTHER
THAN AS SET FORTH IN SECTION 4.04. THE VISION 21 COMPANIES DISCLAIM ALL OTHER
WARRANTIES, EXPRESS OR IMPLIED, IN CONNECTION WITH THE OWNED OPTOMETRIC
EQUIPMENT OR LEASED OPTOMETRIC EQUIPMENT, INCLUDING, BUT NOT LIMITED TO, THE
IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

       6.17   ACKNOWLEDGMENT. The Vision 21 Companies, Gillette, the Gillette
Practice, Smith and the Smith Practice each acknowledge their consent to the
legal representation of the Vision 21 Companies by Shumaker, Loop & Kendrick,
LLP in connection with this Agreement and hereby waive any conflict of
interest that may result from such representation. Gillette, the Gillette
Practice, Smith and the Smith Practice each further acknowledge that they
have retained their own independent legal counsel to represent them in
connection with this Agreement.

                            [SIGNATURES ON NEXT PAGE]

                                       23
<PAGE>

       IN WITNESS WHEREOF, each of the Parties have executed this Agreement to
be effective as of the day and year first above written.

                                EYE CARE CENTERS OF AMERICA, INC.

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

                                ENCLAVE ADVANCEMENT GROUP, INC.

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

                                VISIONWORKS, INC.

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

                                VISION TWENTY-ONE, INC.

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

                                THE COMPLETE OPTICAL LABORATORY, LTD., CORP.

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

                                BLOCK VISION, INC.

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

                                MEC HEALTHCARE, INC.

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

                                       24
<PAGE>

                            SETTLEMENT AGREEMENT
                         Signature page (continued)

                                VISION TWENTY-ONE OF WISCONSIN, INC.

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

                                VISION TWENTY-ONE MANAGED EYECARE OF
                                TAMPA BAY, INC.

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

                                DRS. SMITH, PORTER & ASSOCIATES, P.A.

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

                                OPTOMETRIC CONSULTANTS OF FLORIDA, P.A.

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

                                OPTOMETRIC ASSOCIATES OF FLORIDA, P.A.

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

                                DR. SMITH & ASSOCIATES, #6966, P.A.

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

                                DR. SMITH & ASSOCIATES, #6958, P.A.

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

                                DR. SMITH & ASSOCIATES, #6952, P.A.

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

                            SETTLEMENT AGREEMENT

                                       25
<PAGE>

                         Signature page (continued)

                                THEODORE N. GILLETTE, O.D.

                                ------------------------------------
                                Theodore N. Gillette, O.D.

                                PAUL R. SMITH

                                ------------------------------------
                                Paul R. Smith, O.D.

                                       26

<PAGE>

                                    EXHIBIT A
                          OPTOMETRIC PRACTICE LOCATIONS

<TABLE>
<CAPTION>
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
STORE NO.   VISION 21 PRACTICES AND         LESSOR                     LOCATION OF PREMISES              TRANSITION DATES
            OWNERS OF SUCH PRACTICES
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
<S>        <C>                            <C>                <C>                                        <C>
   70       Optometric Associates of        ECCA              1660 South Alma School Road, Suite 101,      March 1, 2000
             Arizona, P.C. - Garrett                          Mesa, Maricopa County, Arizona
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   95       Optometric Associates of        ECCA              9658 Metro Parkway East, Space #173,         March 1, 2000
             Arizona, P.C. - Garrett                          Phoenix, Maricopa County, Arizona
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   101      Optometric Associates of        ECCA              Dobson Shores Shopping Center, 1938-1        March 1, 2000
             Arizona, P.C. - Garrett                          South Dobson Road, Mesa, Maricopa
                                                              County, Arizona
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   122      Optometric Associates of        ECCA              Desert Sky Mall, 7611 West Thomas Road,      March 1, 2000
             Arizona, P.C. - Garrett                          Phoenix, Maricopa County, Arizona
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   123      Optometric Associates of        ECCA              Christown Mall, 1645 West Bethany Home       March 1, 2000
             Arizona, P.C. - Garrett                          Road, Phoenix, Maricopa County, Arizona
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   129      Optometric Associates of        ECCA              Barton Creek Square Mall, 2901 South         March 1, 2000
              Texas P.C. - Lacey                              Capitol of Texas Highway, Austin,
                                                              Travis County, Texas
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   134      Optometric Associates of        ECCA              Scottsdale Pavillion, 9039 East Indian       March 1, 2000
             Arizona, P.C. - Garrett                          Bend Road, Scottsdale, Maricopa County,
                                                              Arizona
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   135      Optometric Associates of        ECCA              Highland Mall, 6001 Airport Blvd.,           June 6, 2000
              Texas, P.C. - Lacey                             Suite 2417, Austin, Travis County,
                                                              Texas
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   219      Optometric Associates of        ECCA              Arrowhead Towne Center, 7700 Arrowhead       March 1, 2000
             Arizona, P.C. - Garrett                          Towne Center, Glendale, Maricopa
                                                              County, Arizona
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   244      Optometric Associates of        ECCA              Scottsdale Fashion Square, 7000 E.           July 2, 2000
             Arizona, P.C. - Garrett                          Camelback Road, Space #2001,
                                                              Scottsdale, Maricopa County, Arizona
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------

<PAGE>

<CAPTION>
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
STORE NO.   VISION 21 PRACTICES AND         LESSOR                     LOCATION OF PREMISES              TRANSITION DATES
            OWNERS OF SUCH PRACTICES
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
<S>        <C>                            <C>                <C>                                        <C>
   248      Optometric Associates of        ECCA              Lakeline Mall, 11200 Lakeline Drive,         March 1, 2000
              Texas, P.C. - Lacey                             Cedar Park, Williamson County, Texas
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   254      Optometric Associates of        ECCA              Ahwatukee Foothills Towne Center, 4933       March 1, 2000
             Arizona, P.C. - Garrett                          E. Ray Road, Suite 9B, Phoenix,
                                                              Maricopa County, Arizona
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   258      Optometric Associates of        ECCA              Braker Village Shopping Center, 10900        July 2, 2000
              Texas, P.C. - Lacey                             Research Blvd., Bldg. B, Austin, Travis
                                                              County, Texas
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   262      Optometric Associates of        ECCA              Boardwalk Shopping Center, 2601 S. IH        July 2, 2000
              Texas, P.C.- Lacey                              35, Bldg. C, Suite 100, Round Rock,
                                                              Williamson County, Texas
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   307      Optometric Associates of        Visionworks       *810 South Missouri Avenue, Clearwater,      August 26, 2000
             Florida, P.A. - Gillette                         Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   308      Optometric Associates of        Visionworks       *2001 East Fowler Avenue, Tampa, Florida     August 26, 2000
             Florida, P.A. - Gillette
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   309      Optometric Associates of        Visionworks       *2143 Tyrone Blvd., St. Petersburg,          August 26, 2000
             Florida, P.A. - Gillette                         Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   310      Optometric Associates of        Visionworks       *1075 U.S. Highway 19 South, Palm            August 26, 2000
             Florida, P.A. - Gillette                         Harbor, Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   311      Dr. Smith & Associates,         Visionworks       *11850 Sheri Lane, Kendall, Florida          September 9, 2000
              #6952, P.A. - Smith
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   312      Optometric Associates of        Visionworks       *891 South Tamiami Trail, Sarasota,          August 26, 2000
             Florida, P.A. - Gillette                         Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   313      Optometric Consultants of       Visionworks       *701 N. Congress Avenue, Boynton Beach,      September 9, 2000
             Florida, P.A. - Gillette                         Florida
             and Smith
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   314      Optometric Associates of        Visionworks       *3301 4th Street North, St. Petersburg,      August 26, 2000
            Florida, P.A. - Gillette                          Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   317      Optometric Associates of        Visionworks      *700 South Dale Mabry Highway, Tampa,         August 26, 2000
             Florida, P.A. - Gillette                         Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   318      Dr.Smith & Associates,          Visionworks       *Colonial Palms Plaza, 13601 S. Dixie        September 9, 2000
              #6958, P.A. - Smith                             Highway, Miami, Dade County, Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------

                                       2
<PAGE>

<CAPTION>
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
STORE NO.   VISION 21 PRACTICES AND         LESSOR                     LOCATION OF PREMISES              TRANSITION DATES
            OWNERS OF SUCH PRACTICES
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
<S>        <C>                            <C>                <C>                                        <C>
   325      Optometric Associates of        Visionworks       *9644 Scenic Drive, New Port Richey,         August 26, 2000
             Florida, P.A. - Gillette                         Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   326      Dr. Smith & Associates,         Visionworks       *1610 N.E. 163rd Street, North Miami         September 9, 2000
              #6966, P.A. - Smith                              Beach, Dade County, Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   332      Optometric Associates of        Visionworks       *12320 S. Cleveland Avenue, Fort Myers,      August 26, 2000
             Florida, P.A. - Gillette                          Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   337      Optometric Associates of        Visionworks       *11212 Park Blvd., Seminole, Florida         August 26, 2000
             Florida, P.A. - Gillette
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   339      Optometric Associates of        Visionworks       *14901 North Dale Mabry Highway, Tampa,      August 26, 2000
             Florida, P.A. - Gillette                         Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   342      Drs. Smith, Porter &            Visionworks       *13191 W. Sunrise Blvd., Sunrise,            September 9, 2000
             Associates, P.A. - Smith                         Florida
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
   343      Optometric Consultants of       Visionworks       *Palm Springs Mile Shopping Centers,         September 9, 2000
             Florida, P.A. - Gillette                         Hialeah, Pinellas County, Florida
             and Smith
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
  9370      Optometric Associates of        Visionworks       *18500 Veterans Blvd. #4, Port               August 26, 2000
             Florida, P.A. - Gillette                         Charlotte, Florida 33954
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
  9374      Optometric Associates of        Visionworks       *8150 Citrus Park Town Center, Tampa,        August 26, 2000
             Florida, P.A. - Gillette                         Florida 33625
---------  -----------------------------  -----------------  -----------------------------------------  ----------------------
</TABLE>

Drs. Smith, Porter & Associates, P.A., Dr. Smith & Associates, #6966, P.A., Dr.
Smith & Associates, #6958, P.A., Dr. Smith & Associates, #6952, P.A. *Indicates
the G&S Optometric Premises

                                       3
<PAGE>

                                    EXHIBIT B
                         FORM OF NEW SUBLEASE AGREEMENT

<PAGE>

                                    EXHIBIT C
                             DESIGNATED OPTOMETRISTS

<TABLE>
<CAPTION>
STORE #     DESIGNATED OPTOMETRIST           ADDRESS OF G&S OPTOMETRIC           LEASE TERMS*
                                                 PREMISES
-------  ----------------------------  ------------------------------------------- ------------------------------
<S>      <C>                           <C>                                         <C>
  307     Optometric Associates of      810 South  Missouri  Avenue,  Clearwater,  Year 1 - $29,510
              Florida, PA               Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------  ------------------------------------------- ------------------------------
  308     Optometric Associates of      2001 East Fowler Avenue, Tampa, Florida    Year 1 - $39,220
              Florida, PA
                                                                                   Year 2 - $48,000
-------  ----------------------------  ------------------------------------------- ------------------------------
  309     Optometric Associates of      2143  Tyrone   Blvd.,   St.   Petersburg,  Year 1 - $39,220
              Florida, PA               Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------  ------------------------------------------- ------------------------------
  310     Optometric Associates of      1075 U.S. Highway 19 South,  Palm Harbor,  Year 1 - $39,220
              Florida, PA               Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------  ------------------------------------------- ------------------------------
  311     Dr. Smith & Associates,       11850 Sheri Lane, Kendall, Florida         Year 1 - $48,000
              #6952, PA
                                                                                   Year 2 - $48,000
-------  ----------------------------  ------------------------------------------- ------------------------------
  312     Optometric Associates of      891 South Tamiami Trail, Sarasota,         Year 1 - $39,220
              Florida, PA               Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------  ------------------------------------------- ------------------------------
  313     Drs. Smith, Porter &          701 N. Congress Avenue, Boynton  Beach,    Year 1 - $36,000
          Associates, PA                Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------
  314     Optometric Associates of      3301 4th Street North, St. Petersburg,     Year 1 - $39,220
          Florida, PA                   Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------
  317     Optometric Associates of      700 South Dale Mabry Highway, Tampa,       Year 1 - $39,220
          Florida, PA                   Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------
  318     Dr. Smith & Associates,       Colonial Palms Plaza, 13601 S. Dixie       Year 1 - $48,000
          #6958, PA                     Highway, Miami, Dade County, Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------
  325     Optometric Associates of      9644 Scenic Drive, New Port Richey,        Year 1 - $39,220
          Florida, PA                   Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------

<PAGE>

<CAPTION>
STORE #     DESIGNATED OPTOMETRIST           ADDRESS OF G&S OPTOMETRIC           LEASE TERMS*
                                                 PREMISES
-------  ----------------------------  ------------------------------------------- ------------------------------
<S>      <C>                           <C>                                         <C>
  326     Dr. Smith & Associates,       1610 N.E. 163rd Street, North Miami        Year 1 - $48,000
          #6966, PA                     Beach, Dade County, Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------
  332     Optometric Associates of      12320 S. Cleveland Avenue, Fort Myers,     Year 1 - $12,000
          Florida, PA                   Florida
-------  ----------------------------   ------------------------------------------ ------------------------------
  337     Optometric Associates of      11212 Park Blvd., Seminole, Florida        Year 1 - $39,220
          Florida, PA
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------
  339     Optometric Associates of      14901 North Dale Mabry Highway, Tampa,     Year 1 - $39,220
          Florida, PA                   Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------
  342     Drs. Smith, Porter &          13191 W. Sunrise Blvd., Sunrise, Florida   Year 1 - $48,000
          Associates, PA
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------
  343     Drs. Smith, Porter &          Palm Springs Mile Shopping Centers,        Year 1 - $48,000
          Associates, PA                Hialeah, Pinellas County, Florida
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------
 9370     Optometric Associates of      18500 Veterans Blvd. #4, Port Charlotte,   Year 1 - $12,000
          Florida, PA                   Florida 33954
-------  ----------------------------   ------------------------------------------ ------------------------------
 9374     Optometric Associates of      8150 Citrus Park Town Center, Tampa,       Year 1 - $29,510
          Florida, PA                   Florida 33625
                                                                                   Year 2 - $48,000
-------  ----------------------------   ------------------------------------------ ------------------------------
</TABLE>

* The annual rent for the first year will be prorated in 10 equal monthly
payments, with the first rent payment due on the first day of the third month
after the commencement of the sublease.

                                       2
<PAGE>

                                    EXHIBIT D
                           OWNED OPTOMETRIC EQUIPMENT

<PAGE>

                                    EXHIBIT E
                           LEASED OPTOMETRIC EQUIPMENT

<PAGE>

                                    EXHIBIT F
                      FORM OF MANAGED VISION CARE AGREEMENT

                              [Block Vision, Inc.]

       This Managed Vision Care Agreement is executed this ____ day of
______, 2000 by Block Vision, Inc., a New Jersey corporation (the "Company")
for the benefit of Eye Care Centers of America, Inc., a Texas corporation
("ECCA"), Visionworks, Inc., a Florida corporation and wholly-owned
subsidiary of ECCA ("Visionworks"), Enclave Advancement Group, Inc., a
Delaware corporation and wholly-owned subsidiary of ECCA ("Enclave") and
their respective subsidiaries and Affiliates. ECCA, Visionworks, Enclave and
their respective subsidiaries and Affiliates (as hereinafter defined) are
hereinafter referred to collectively as the "ECCA Companies" or individually
as an "ECCA Company."

                               W I T N E S S E T H

       WHEREAS, concurrent with the execution hereof, the parties hereto,
Vision Twenty-One, Inc., a Florida corporation ("Vision 21"), and certain
other parties, are entering into that certain Settlement Agreement (the
"Settlement Agreement") pursuant to which certain outstanding matters between
the parties thereto are being resolved;

       WHEREAS, certain of the ECCA Companies and the optometrists with
practices located adjacent to or within the retail optical stores owned or
operated by any ECCA Company are currently on the managed care panels with
respect to managed vision care contracts secured or administered by the
Company;

       WHEREAS, the Company is receiving benefits from the Settlement
Agreement and, in connection therewith, has agreed to execute this Agreement
providing the ECCA Companies and certain optometrists will have the continued
right to participate on the managed care panels with respect to managed
vision care contracts secured or administered by the Company;

       NOW, THEREFORE, in consideration of the premises and mutual covenants
and agreements of the parties hereinafter contained and other good and
valuable consideration the receipt of which is hereby acknowledged by each
party, the parties hereby agree as follows:

       Section 1. PARTICIPATION ON PANELS. For the period commencing on the
date hereof and ending on the fifth anniversary of the date hereof, unless
otherwise specified by the associated employer group or managed care entity,
to the extent permitted by applicable law and subject to the credentialing
and other participatory requirements of each managed vision care plan, and
continued compliance by the ECCA Participants (as defined below) with the
terms and conditions of the applicable provider agreements, including all
managed care entity-specific provisions included therein (subject to the
non-discriminatory restrictions below), the Company shall include all of the
optical retail stores of the ECCA Companies and all of the ECCA Optometrists,
including new store locations and optometrists (and their respective
professional entities) that may hereinafter become ECCA Optometrists
(collectively, the "ECCA Participants"), on each of the provider panels of
managed vision care plans secured or administered by the Company covering
markets in which such ECCA Participant is located. The Company shall take
such actions as reasonably necessary to insure that the ECCA Participants are
not discriminated against with respect to participation on such provider
panels and receive the same benefits and treatment as the other members of
the panels, except for the compensation and reimbursement to be paid by the
Company to the ECCA Participants on existing contracts which has been and
shall continue to be at the same rates set forth under presently existing
managed vision care contracts. The ECCA Participants will be included on the
panels of such managed vision care plans immediately following the execution
of this Agreement, subject to the credentialing and other participatory
requirements.

<PAGE>

With respect to new managed vision care contracts after the date hereof, the
Company and ECCA agree that (i) any decrease in historical reimbursement
rates shall be as mutually agreed upon, (ii) the Company shall negotiate
reimbursement rates in good faith and not arbitrarily or capriciously offer
lower rates to discourage ECCA from accepting new contracts and (iii)
reimbursement rates will be proportionate to rates currently in effect and
relative to reimbursement levels offered to non-ECCA panel members taking
into account the size and scope of the ECCA panel members. The Company shall
use its reasonable best efforts to assist the ECCA Participants in the
application process for obtaining the requisite credentialing to participate
on such provider panels. If the credentialing is denied for any reason or if
any ECCA Participant is removed from a panel for non-compliance with the
participation requirements, the Vision 21 Companies shall provide, or cause
to be provided, to the ECCA Participants, within 30 days of such denial or
removal, the basis for denying the credentialing or removing the ECCA
Participant from the panel and an opportunity to cure the deficiency of the
ECCA Participant in order to secure or maintain, as the case may be, a
position on such provider panels. If, after the date hereof, an ECCA Company
bids on a managed vision care contract that is then awarded to the Company,
then the Vision 21 Company will not be obligated to include the ECCA
Participants on the provider panel solely as it relates to such managed
vision care contract; provided, however the foregoing shall not affect right
of the ECCA Participants to participate on the provider panels as they relate
to all other managed vision care contracts.

       Section 2.    DEFINITIONS.

       (a)    "AFFILIATE" as to any person or entity shall mean any entity or
person that directly or indirectly through one or more intermediaries
controls, is controlled by or is under common control with, the specified
person or entity. The term "control" for this purpose shall mean the ability,
whether by the ownership of shares or other equity interest, by contract or
otherwise, to elect a majority of the directors of a corporation, to
independently select the general partner of a partnership, or otherwise to
have the power independently to remove and then select a majority of those
persons exercising governing authority over an entity. "Control" shall be
conclusively presumed in the case of direct or indirect ownership of 50% or
more of the equity interest by such person or entity. Notwithstanding the
foregoing, in no event shall the term "Affiliate" with respect to ECCA
include Thomas H. Lee Company or any of its Affiliates (other than ECCA and
its subsidiaries).

       "ECCA OPTOMETRISTS" shall mean all of the optometrists (and their
respective professional entities through whom they perform optometric
services) (i) who are then employed by any of the ECCA Companies, or have
been so employed in the preceding twelve (12) months, (ii) to whom an ECCA
Company then provides management services or has provided management services
in the preceding twelve (12) months, (iii) who are then employed by any other
optometrists (or professionally entity owned by an optometrist), or have been
so employed in the preceding twelve (12) months, to whom an ECCA Company then
provides management services; or (iv) who have practices then located, or
located within the preceding twelve (12) months, adjacent to or within (or
near if such space is sublet by an ECCA Company) the stores owned or operated
by any ECCA Company including, without limitation, optometrist employed by
the Vision 21 Practices.

       "Parties" means the Company, ECCA, Enclave and Visionworks.

                                       2
<PAGE>

       Section 3.    MISCELLANEOUS.

       (a)    TIME IS OF THE ESSENCE. Time is of the essence in the
performance of this Agreement.

       (b)    ARBITRATION; WAIVER OF TRIAL BY JURY Any and every dispute of
any nature whatsoever that may arise between any of the Parties, whether
founded in contract, statute, tort, fraud, misrepresentation, discrimination
or any other legal theory, including, but not limited to, disputes relating
to or involving the construction, performance or breach of this Agreement, or
any schedule, certificate or other document delivered by any Party hereto, or
any other agreement between the Parties, whether entered into prior to, on,
or subsequent to the date of this Agreement, or those arising under any
federal, state or local law, regulation or ordinance, shall be determined by
binding arbitration in accordance with the then current commercial
arbitration rules of the American Arbitration Association, to the extent such
rules do not conflict with the provisions of this paragraph. If the amount in
controversy in the arbitration exceeds Two Hundred Fifty Thousand Dollars
($250,000), exclusive of interest, attorneys' fees and costs, the arbitration
shall be conducted by a panel of three (3) neutral arbitrators. Otherwise,
the arbitration shall be conducted by a single neutral arbitrator. The
Parties shall endeavor to select neutral arbitrators by mutual agreement. If
such agreement cannot be reached within thirty (30) calendar days after a
dispute has arisen which is to be decided by arbitration, any Party or the
Parties jointly shall request the American Arbitration Association to submit
to each Party an identical panel of fifteen (15) persons. Alternate strikes
shall be made to the panel, commencing with the Party bringing the claim,
until the names of three (3) persons remain, or one (1) person if the case is
to be heard by a single arbitrator. The Parties may, however, by mutual
agreement, request the American Arbitration Association to submit additional
panels of possible arbitrators. The person(s) thus remaining shall be the
arbitrator(s) for such arbitration. If three (3) arbitrators are selected,
the arbitrators shall elect a chairperson to preside at all meetings and
hearings. The arbitrator(s), or a majority of them, shall have the power to
determine all matters incident to the conduct of the arbitration, including
without limitation all procedural and evidentiary matters and the scheduling
of any hearing. The award made by a majority of the arbitrators shall be
final and binding upon the Parties thereto and the subject matter. The
arbitration shall be governed by the United States Arbitration Act, 9 U.S.C.
Sections 1-16, and judgment upon the award rendered by the arbitrator(s) may
be entered by any court having jurisdiction thereof. The arbitrators shall
have authority to award damages, arbitration costs, attorneys' fees,
declaratory relief and permanent injunctive relief, if applicable, in
accordance with the terms of this Agreement. Unless otherwise agreed by the
Parties, the arbitration shall be held in San Antonio, Texas. This SECTION
3(B) shall not prevent any of the Parties from seeking a temporary
restraining order or temporary or preliminary injunctive relief from a court
of competent jurisdiction in order to protect its rights under this
Agreement. In the event a Party seeks such injunctive relief pursuant to this
Agreement, such action shall not constitute a waiver of the provisions of
this SECTION 3(b), which shall continue to govern any and every dispute
between the Parties, including without limitation the right to damages,
permanent injunctive relief and any other remedy, at law or in equity.

       EACH OF THE PARTIES TO THIS AGREEMENT WAIVES ANY RIGHT TO TRIAL BY
JURY OF ANY DISPUTE OF ANY NATURE WHATSOEVER THAT MAY ARISE BETWEEN THEM,
INCLUDING, BUT NOT LIMITED TO, THOSE DISPUTES RELATING TO OR INVOLVING, IN
ANY WAY THE CONSTRUCTION, PERFORMANCE OR BREACH OF THIS AGREEMENT OR ANY
OTHER AGREEMENT BETWEEN THE PARTIES, THE PROVISIONS OF ANY FEDERAL, STATE OR
LOCAL LAW, REGULATION OR ORDINANCE NOTWITHSTANDING. By execution of this
agreement, each of the parties hereto acknowledges and agrees that it has had
an opportunity to consult with legal counsel and that it knowingly and
voluntarily waives any right to a trial by jury of any dispute pertaining to
or relating in any way to the transactions contemplated by this Agreement,
the provisions of any federal, state or local law, regulation or ordinance
notwithstanding.

                                       3
<PAGE>

       (c)    EXPENSES. Each Party shall pay its own expenses relating to
this Agreement including, without limitation, the fees and expenses of their
respective counsel and financial advisors.

       (d)    GOVERNING LAW. The interpretation and construction of this
Agreement and all matters relating hereto, shall be governed by the internal
laws of the State of Texas without regard to conflict of laws principles.

       (e)    ENFORCEMENT; VENUE; SERVICE OF PROCESS. In the event any Party
shall seek enforcement of any covenant, warranty or other term or provision
of this Agreement or seek to recover damages for the breach thereof, the
Party which prevails in such proceedings shall be entitled to recover
reasonable attorneys' fees and expenses actually incurred by it in connection
therewith. Subject to SECTION 3(b) and without waiving the same, the Parties
agree that this Agreement is performable in Bexar County, Texas and that the
sole and exclusive venue for any proceeding involving any claim arising under
or relating to this Agreement shall be in Bexar County, Texas. The Parties
agree that the service of process or any other papers upon any of them by any
of the methods specified in and in accordance with SECTION 3(g) (other than
by facsimile) shall be deemed good, proper, and effective service upon them.

       (f)    CAPTIONS; REFERENCES. The Section captions used herein are for
reference purposes only, and shall not in any way affect the meaning or
interpretation of this Agreement. References to a "Section" when used without
further attribution shall refer to the particular section of this Agreement.

       (g)    NOTICES. Any notice or other communications required or permitted
hereunder shall be in writing and, unless otherwise provided herein, shall be
deemed to have been duly given upon delivery in person, by facsimile, by
overnight courier or by certified or registered mail, return receipt requested,
as follows:

       If to the Company:                 Block Vision
                                          621 N. W. 53rd Street, Suite 600
                                          Boca Raton, Florida 33487
                                          Attention: Andrew Alcorn, President
                                          Facsimile: (561) 241-5126-4371

          With a copy to:                 Shumaker, Loop & Kendrick, LLP
                                          101 E. Kennedy Boulevard
                                          Suite 2800
                                          Tampa, Florida  33602
                                          Attention:  Darrell C. Smith, Esquire
                                          Facsimile:  (813) 229-1660

       If to any of the ECCA Companies:   Eye Care Centers of America, Inc.
                                          11103 West Avenue
                                          San Antonio, Texas 78213-1392
                                          Attention:  Bernard W. Andrews, CEO
                                          Facsimile: (210) 524-6996

          With a copy to:                 Cox & Smith Incorporated
                                          112 E. Pecan, Suite 1800
                                          San Antonio, Texas 78205
                                          Attention: J. Daniel Harkins or
                                            Steven A. Elder
                                          Facsimile: (210) 226-8395

                                       4
<PAGE>

or at such other address or telecopy number as shall have been furnished in
writing by any such Party, except that such notice of such change shall be
effective only upon receipt. Each such notice or other communication shall be
effective when received or, if given by mail, when delivered at the address
specified in this SECTION 3(g) or on the fifth business day following the
date on which such communication is posted, whichever occurs first.
Notwithstanding any provision in this Agreement to the contrary, any notice
properly delivered to ECCA shall be deemed properly delivered to all of the
ECCA Companies.

       (h)    PARTIES IN INTEREST. This Agreement shall be binding upon and
shall inure to the benefit of the Parties and their respective successors and
permitted assigns. This Agreement may not be transferred, assigned, pledged
or hypothecated by the Company without the consent of ECCA. The Company
agrees that in the event of any transfer by any such company of all or
substantially all of its assets (or all or substantially all of the assets of
a operating division), the acquirer of such assets shall be required to
assume the Company's obligations hereunder.

       (i)    COUNTERPARTS. This Agreement may be executed in two or more
counterparts, all of which taken together shall constitute one instrument.

       (j)    ENTIRE AGREEMENT. This Agreement, including the other documents
referred to herein which form a part hereof or any other written agreements
that the Parties enter into pursuant to or relating to the transactions
contemplated herein, contains the entire understanding of the Parties with
respect to the subject matter contained herein and therein. This Agreement
supersedes all prior agreements and understandings between the Parties with
respect to such subject matter. All exhibits and schedules referred to herein
and attached hereto are incorporated herein by reference. The Parties
acknowledge that except as expressly provided herein, the Asset Purchase
Agreement and all rights and obligations thereunder shall not be amended or
modified by the terms of this Agreement and shall remain in full force and
effect.

       (k)    AMENDMENTS. This Agreement may not be changed orally, but only
by an agreement in writing signed by the Parties.

       (l)    SEVERABILITY. Whenever possible each provision and term of this
Agreement will be interpreted in a manner to be effective and valid but if
any provision or term of this Agreement is held to be prohibited by law or
invalid, then such provision or term will be ineffective only to the extent
of such prohibition or invalidity, without invalidating or affecting in any
manner whatsoever the remainder of such provision or term or the remaining
provisions or terms of this Agreement. If any covenants or any portion
thereof set forth in this Agreement is held by a court of competent
jurisdiction to contain limitations as to duration, geographical area or
scope of activity to be restrained that are not reasonable and impose a
greater restraint than is necessary to protect the goodwill or other business
interests of the affected party, the same shall not affect the remainder of
the covenant or covenants contained therein, which shall be given full
effect, without regard to the invalid portions, and any court having
jurisdiction shall reform the covenants to the extent necessary to cause the
limitations contained therein as to duration, geographical area and scope of
activity to be restrained to be reasonable and to impose a restraint that is
not greater than necessary to protect the goodwill or other business
interests of the affected party and enforce the covenants as reformed.

       (m)    JOINT PREPARATION. This Agreement has been prepared by the
joint efforts of the respective attorneys to each of the Parties. No
provision of this Agreement shall be construed on the basis that such Party
was the author of such provision.

       (n)    WAIVER. The rights and remedies of the Parties are cumulative
and not alternative. Neither the failure nor any delay by any Party in
exercising any right, power, or privilege under this

                                       5
<PAGE>

Agreement or the documents referred to in this Agreement will operate as a
waiver of such right, power, or privilege, and no single or partial exercise
of any such right, power, or privilege will preclude any other or further
exercise of such right, power, or privilege or the exercise of any other
right, power, or privilege. To the maximum extent permitted by applicable
law, (a) no claim or right arising out of this Agreement or the documents
referred to in this Agreement can be discharged by one Party, in whole or in
part, by a waiver or renunciation of the claim or right unless provided in
writing signed by the other parties; (b) no waiver that may be given by a
Party will be applicable except in the specific instance for which it is
given; and (c) no notice to or demand on one Party will be deemed to be a
waiver of any obligation of such Party or of the right of the Party giving
such notice or demand to take further action without notice or demand as
provided in this Agreement or the documents referred to in this Agreement.

       IN WITNESS WHEREOF, each of the Parties have executed this Agreement to
be effective as of the day and year first above written.

                                EYE CARE CENTERS OF AMERICA, INC.

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

                                ENCLAVE ADVANCEMENT GROUP, INC.

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

                                VISIONWORKS, INC.

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

                                BLOCK VISION, INC.

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

                                       6

<PAGE>

                                    EXHIBIT G
                      FORM OF MANAGED VISION CARE AGREEMENT
                            [Maryland Eye Care, Inc.]

       This Managed Vision Care Agreement is executed this ____ day of
______, 2000 by MEC Healthcare, Inc. (the "Company") for the benefit of Eye
Care Centers of America, Inc., a Texas corporation ("ECCA") Visionworks,
Inc., a Florida corporation and wholly-owned subsidiary of ECCA
("Visionworks"), Enclave Advancement Group, Inc., a Delaware corporation and
wholly-owned subsidiary of ECCA ("Enclave"). ECCA, Visionworks, Enclave and
their respective subsidiaries and Affiliates (as hereinafter defined) are
hereinafter referred to collectively as the "ECCA Companies" or individually
as an "ECCA Company."

                              W I T N E S S E T H

       WHEREAS, concurrent with the execution hereof, the parties hereto,
Vision Twenty-One, Inc., a Florida corporation ("Vision 21"), and certain
other parties, are entering into that certain Settlement Agreement (the
"Settlement Agreement") pursuant to which certain outstanding matters between
the parties thereto are being resolved;

       WHEREAS, certain of the ECCA Companies and the optometrists with
practices located adjacent to or within the retail optical stores owned or
operated by any ECCA Company are currently on the managed care panels with
respect to managed vision care contracts secured or administered by the
Company;

       WHEREAS, the Company is receiving benefits from the Settlement
Agreement and, in connection therewith, has agreed to execute this Agreement
providing the ECCA Companies and certain optometrists will have the continued
right to participate on the managed care panels with respect to managed
vision care contracts secured or administered by the Company;

       NOW, THEREFORE, in consideration of the premises and mutual covenants
and agreements of the parties hereinafter contained and other good and
valuable consideration the receipt of which is hereby acknowledged by each
party, the parties hereby agree as follows:

       Section 1. PARTICIPATION ON PANELS. For the period commencing on the
date hereof and ending on the fifth anniversary of the date hereof, unless
otherwise specified by the associated employer group or managed care entity,
to the extent permitted by applicable law and subject to the credentialing
and other participatory requirements of each managed vision care plan, and
continued compliance by the ECCA Participants (as defined below) with the
terms and conditions of the applicable provider agreements, including all
managed care entity-specific provisions included therein (subject to the
non-discriminatory restrictions below), the Company shall include all of the
optical retail stores of the ECCA Companies and all of the ECCA Optometrists,
including new store locations and optometrists (and their respective
professional entities) that may hereinafter become ECCA Optometrists
(collectively, the "ECCA Participants"), on each of the provider panels of
managed vision care plans secured or administered by the Company covering
markets in which such ECCA Participant is located. The Company shall take
such actions as reasonably necessary to insure that the ECCA Participants are
not discriminated against with respect to participation on such provider
panels and receive the same benefits and treatment as the other members of
the panels, except for the compensation and reimbursement to be paid by the
Company to the ECCA Participants on existing contracts which has been and
shall continue to be at the same rates set forth under presently existing
managed vision care contracts. The ECCA Participants will be included on the
panels of such managed vision care plans immediately following the execution
of this Agreement, subject to the credentialing and other participatory
requirements.

<PAGE>

With respect to new managed vision care contracts after the date hereof, the
Company and ECCA agree that (i) any decrease in historical reimbursement
rates shall be as mutually agreed upon, (ii) the Company shall negotiate
reimbursement rates in good faith and not arbitrarily or capriciously offer
lower rates to discourage ECCA from accepting new contracts and (iii)
reimbursement rates will be proportionate to rates currently in effect and
relative to reimbursement levels offered to non-ECCA panel members taking
into account the size and scope of the ECCA panel members. The Company shall
use its reasonable best efforts to assist the ECCA Participants in the
application process for obtaining the requisite credentialing to participate
on such provider panels. The Company shall use its best efforts to assist the
ECCA Participants in obtaining the requisite credentialing to participate on
such provider panels. If the credentialing is denied for any reason or if any
ECCA Participant is removed from a panel for non-compliance with the
participation requirements, the Vision 21 Companies shall provide, or cause
to be provided, to the ECCA Participants, within 30 days of such denial or
removal, the basis for denying the credentialing or removing the ECCA
Participant from the panel and an opportunity to cure the deficiency of the
ECCA Participant in order to secure or maintain, as the case may be, a
position on such provider panels. If, after the date hereof, an ECCA Company
bids on a managed vision care contract that is then awarded to the Company,
then the Vision 21 Company will not be obligated to include the ECCA
Participants on the provider panel solely as it relates to such managed
vision care contract; provided, however the foregoing shall not affect right
of the ECCA Participants to participate on the provider panels as they relate
to all other managed vision care contracts.

       Section 2.    DEFINITIONS.

       (a)    "AFFILIATE" as to any person or entity shall mean any entity or
person that directly or indirectly through one or more intermediaries
controls, is controlled by or is under common control with, the specified
person or entity. The term "control" for this purpose shall mean the ability,
whether by the ownership of shares or other equity interest, by contract or
otherwise, to elect a majority of the directors of a corporation, to
independently select the general partner of a partnership, or otherwise to
have the power independently to remove and then select a majority of those
persons exercising governing authority over an entity. "Control" shall be
conclusively presumed in the case of direct or indirect ownership of 50% or
more of the equity interest by such person or entity. Notwithstanding the
foregoing, in no event shall the term "Affiliate" with respect to ECCA
include Thomas H. Lee Company or any of its Affiliates (other than ECCA and
its subsidiaries).

       "ECCA OPTOMETRISTS" shall mean all of the optometrists (and their
respective professional entities through whom they perform optometric
services) (i) who are then employed by any of the ECCA Companies, or have
been so employed in the preceding twelve (12) months, (ii) to whom an ECCA
Company then provides management services or has provided management services
in the preceding twelve (12) months, (iii) who are then employed by any other
optometrists (or professionally entity owned by an optometrist), or have been
so employed in the preceding twelve (12) months, to whom an ECCA Company then
provides management services; or (iv) who have practices then located, or
located within the preceding twelve (12) months, adjacent to or within (or
near if such space is sublet by an ECCA Company) the stores owned or operated
by any ECCA Company including, without limitation, optometrist employed by
the Vision 21 Practices.

       "Parties" means the Company, ECCA, Enclave and Visionworks.

                                       2
<PAGE>

       Section 3.    MISCELLANEOUS.

       (a)    TIME IS OF THE ESSENCE. Time is of the essence in the
performance of this Agreement.

       (b)    ARBITRATION; WAIVER OF TRIAL BY JURY Any and every dispute of
any nature whatsoever that may arise between any of the Parties, whether
founded in contract, statute, tort, fraud, misrepresentation, discrimination
or any other legal theory, including, but not limited to, disputes relating
to or involving the construction, performance or breach of this Agreement, or
any schedule, certificate or other document delivered by any Party hereto, or
any other agreement between the Parties, whether entered into prior to, on,
or subsequent to the date of this Agreement, or those arising under any
federal, state or local law, regulation or ordinance, shall be determined by
binding arbitration in accordance with the then current commercial
arbitration rules of the American Arbitration Association, to the extent such
rules do not conflict with the provisions of this paragraph. If the amount in
controversy in the arbitration exceeds Two Hundred Fifty Thousand Dollars
($250,000), exclusive of interest, attorneys' fees and costs, the arbitration
shall be conducted by a panel of three (3) neutral arbitrators. Otherwise,
the arbitration shall be conducted by a single neutral arbitrator. The
Parties shall endeavor to select neutral arbitrators by mutual agreement. If
such agreement cannot be reached within thirty (30) calendar days after a
dispute has arisen which is to be decided by arbitration, any Party or the
Parties jointly shall request the American Arbitration Association to submit
to each Party an identical panel of fifteen (15) persons. Alternate strikes
shall be made to the panel, commencing with the Party bringing the claim,
until the names of three (3) persons remain, or one (1) person if the case is
to be heard by a single arbitrator. The Parties may, however, by mutual
agreement, request the American Arbitration Association to submit additional
panels of possible arbitrators. The person(s) thus remaining shall be the
arbitrator(s) for such arbitration. If three (3) arbitrators are selected,
the arbitrators shall elect a chairperson to preside at all meetings and
hearings. The arbitrator(s), or a majority of them, shall have the power to
determine all matters incident to the conduct of the arbitration, including
without limitation all procedural and evidentiary matters and the scheduling
of any hearing. The award made by a majority of the arbitrators shall be
final and binding upon the Parties thereto and the subject matter. The
arbitration shall be governed by the United States Arbitration Act, 9 U.S.C.
Sections 1-16, and judgment upon the award rendered by the arbitrator(s) may
be entered by any court having jurisdiction thereof. The arbitrators shall
have authority to award damages, arbitration costs, attorneys' fees,
declaratory relief and permanent injunctive relief, if applicable, in
accordance with the terms of this Agreement. Unless otherwise agreed by the
Parties, the arbitration shall be held in San Antonio, Texas. This SECTION
3(b) shall not prevent any of the Parties from seeking a temporary
restraining order or temporary or preliminary injunctive relief from a court
of competent jurisdiction in order to protect its rights under this
Agreement. In the event a Party seeks such injunctive relief pursuant to this
Agreement, such action shall not constitute a waiver of the provisions of
this SECTION 3(B), which shall continue to govern any and every dispute
between the Parties, including without limitation the right to damages,
permanent injunctive relief and any other remedy, at law or in equity.

       EACH OF THE PARTIES TO THIS AGREEMENT WAIVES ANY RIGHT TO TRIAL BY
JURY OF ANY DISPUTE OF ANY NATURE WHATSOEVER THAT MAY ARISE BETWEEN THEM,
INCLUDING, BUT NOT LIMITED TO, THOSE DISPUTES RELATING TO OR INVOLVING, IN
ANY WAY THE CONSTRUCTION, PERFORMANCE OR BREACH OF THIS AGREEMENT OR ANY
OTHER AGREEMENT BETWEEN THE PARTIES, THE PROVISIONS OF ANY FEDERAL, STATE OR
LOCAL LAW, REGULATION OR ORDINANCE NOTWITHSTANDING. By execution of this
agreement, each of the parties hereto acknowledges and agrees that it has had
an opportunity to consult with legal counsel and that it knowingly and
voluntarily waives any right to a trial by jury of any dispute pertaining to
or relating in any way to the transactions contemplated by this Agreement,
the provisions of any federal, state or local law, regulation or ordinance
notwithstanding.

                                       3
<PAGE>

       (c)    EXPENSES. Each Party shall pay its own expenses relating to this
Agreement including, without limitation, the fees and expenses of their
respective counsel and financial advisors.

       (d)    GOVERNING LAW. The interpretation and construction of this
Agreement and all matters relating hereto, shall be governed by the internal
laws of the State of Texas without regard to conflict of laws principles.

       (e)    ENFORCEMENT; VENUE; SERVICE OF PROCESS. In the event any Party
shall seek enforcement of any covenant, warranty or other term or provision
of this Agreement or seek to recover damages for the breach thereof, the
Party which prevails in such proceedings shall be entitled to recover
reasonable attorneys' fees and expenses actually incurred by it in connection
therewith. Subject to SECTION 3(b) and without waiving the same, the Parties
agree that this Agreement is performable in Bexar County, Texas and that the
sole and exclusive venue for any proceeding involving any claim arising under
or relating to this Agreement shall be in Bexar County, Texas. The Parties
agree that the service of process or any other papers upon any of them by any
of the methods specified in and in accordance with SECTION 3(g) (other than
by facsimile) shall be deemed good, proper, and effective service upon them.

       (f)    CAPTIONS; REFERENCES. The Section captions used herein are for
reference purposes only, and shall not in any way affect the meaning or
interpretation of this Agreement. References to a "Section" when used without
further attribution shall refer to the particular section of this Agreement.

       (g)    NOTICES. Any notice or other communications required or
permitted hereunder shall be in writing and, unless otherwise provided
herein, shall be deemed to have been duly given upon delivery in person, by
facsimile, by overnight courier or by certified or registered mail, return
receipt requested, as follows:

       If to the Company:                 MEC Healthcare, Inc.
                                          621 N. W. 53rd Street, Suite 600
                                          Boca Raton, Florida 33487
                                          Attention: Andrew Alcorn, President
                                          Facsimile: (561) 241-5126-4371

          With a copy to:                 Shumaker, Loop & Kendrick, LLP
                                          101 E. Kennedy Boulevard
                                          Suite 2800
                                          Tampa, Florida  33602
                                          Attention:  Darrell C. Smith, Esquire
                                          Facsimile:  (813) 229-1660

       If to any of the ECCA Companies:   Eye Care Centers of America, Inc.
                                          11103 West Avenue
                                          San Antonio, Texas 78213-1392
                                          Attention:  Bernard W. Andrews, CEO
                                          Facsimile: (210) 524-6996

          With a copy to:                 Cox & Smith Incorporated
                                          12 E. Pecan, Suite 1800
                                          San Antonio, Texas  78205
                                          Attention:  J. Daniel Harkins or
                                            Steven A. Elder
                                          Facsimile: (210) 226-8395

                                       4
<PAGE>

or at such other address or telecopy number as shall have been furnished in
writing by any such Party, except that such notice of such change shall be
effective only upon receipt. Each such notice or other communication shall be
effective when received or, if given by mail, when delivered at the address
specified in this SECTION 3(g) or on the fifth business day following the
date on which such communication is posted, whichever occurs first.
Notwithstanding any provision in this Agreement to the contrary, any notice
properly delivered to ECCA shall be deemed properly delivered to all of the
ECCA Companies.

       (h)    PARTIES IN INTEREST. This Agreement shall be binding upon and
shall inure to the benefit of the Parties and their respective successors and
permitted assigns. This Agreement may not be transferred, assigned, pledged
or hypothecated by the Company without the consent of ECCA. The Company
agrees that in the event of any transfer by any such company of all or
substantially all of its assets (or all or substantially all of the assets of
a operating division), the acquirer of such assets shall be required to
assume the Company's obligations hereunder.

       (i)    COUNTERPARTS. This Agreement may be executed in two or more
counterparts, all of which taken together shall constitute one instrument.

       (j)    ENTIRE AGREEMENT. This Agreement, including the other documents
referred to herein which form a part hereof or any other written agreements
that the Parties enter into pursuant to or relating to the transactions
contemplated herein, contains the entire understanding of the Parties with
respect to the subject matter contained herein and therein. This Agreement
supersedes all prior agreements and understandings between the Parties with
respect to such subject matter. All exhibits and schedules referred to herein
and attached hereto are incorporated herein by reference. The Parties
acknowledge that except as expressly provided herein, the Asset Purchase
Agreement and all rights and obligations thereunder shall not be amended or
modified by the terms of this Agreement and shall remain in full force and
effect.

       (k)    AMENDMENTS. This Agreement may not be changed orally, but only
by an agreement in writing signed by the Parties.

       (l)    SEVERABILITY. Whenever possible each provision and term of this
Agreement will be interpreted in a manner to be effective and valid but if
any provision or term of this Agreement is held to be prohibited by law or
invalid, then such provision or term will be ineffective only to the extent
of such prohibition or invalidity, without invalidating or affecting in any
manner whatsoever the remainder of such provision or term or the remaining
provisions or terms of this Agreement. If any covenants or any portion
thereof set forth in this Agreement is held by a court of competent
jurisdiction to contain limitations as to duration, geographical area or
scope of activity to be restrained that are not reasonable and impose a
greater restraint than is necessary to protect the goodwill or other business
interests of the affected party, the same shall not affect the remainder of
the covenant or covenants contained therein, which shall be given full
effect, without regard to the invalid portions, and any court having
jurisdiction shall reform the covenants to the extent necessary to cause the
limitations contained therein as to duration, geographical area and scope of
activity to be restrained to be reasonable and to impose a restraint that is
not greater than necessary to protect the goodwill or other business
interests of the affected party and enforce the covenants as reformed.

       (m)    JOINT PREPARATION. This Agreement has been prepared by the
joint efforts of the respective attorneys to each of the Parties. No
provision of this Agreement shall be construed on the basis that such Party
was the author of such provision.

       (n)    WAIVER. The rights and remedies of the Parties are cumulative
and not alternative. Neither the failure nor any delay by any Party in
exercising any right, power, or privilege under this

                                       5
<PAGE>

Agreement or the documents referred to in this Agreement will operate as a
waiver of such right, power, or privilege, and no single or partial exercise
of any such right, power, or privilege will preclude any other or further
exercise of such right, power, or privilege or the exercise of any other
right, power, or privilege. To the maximum extent permitted by applicable
law, (a) no claim or right arising out of this Agreement or the documents
referred to in this Agreement can be discharged by one Party, in whole or in
part, by a waiver or renunciation of the claim or right unless provided in
writing signed by the other parties; (b) no waiver that may be given by a
Party will be applicable except in the specific instance for which it is
given; and (c) no notice to or demand on one Party will be deemed to be a
waiver of any obligation of such Party or of the right of the Party giving
such notice or demand to take further action without notice or demand as
provided in this Agreement or the documents referred to in this Agreement.

       IN WITNESS WHEREOF, each of the Parties have executed this Agreement
to be effective as of the day and year first above written.

                                EYE CARE CENTERS OF AMERICA, INC.

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

                                ENCLAVE ADVANCEMENT GROUP, INC.

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

                                VISIONWORKS, INC.

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

                                MEC HEALTHCARE, INC.

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

                                       6

<PAGE>

                                    EXHIBIT H
                      FORM OF MANAGED VISION CARE AGREEMENT
                     [Vision Twenty-One of Wisconsin, Inc.]

       This Managed Vision Care Agreement is executed this ____ day of
______, 2000 by Vision Twenty-One of Wisconsin, Inc., a Wisconsin corporation
(the "Company") for the benefit of Eye Care Centers of America, Inc., a Texas
corporation ("ECCA"), Visionworks, Inc., a Florida corporation and
wholly-owned subsidiary of ECCA ("Visionworks"), Enclave Advancement Group,
Inc., a Delaware corporation and wholly-owned subsidiary of ECCA ("Enclave")
and their respective subsidiaries and Affiliates. ECCA, Visionworks, Enclave
and their respective subsidiaries and Affiliates (as hereinafter defined) are
hereinafter referred to collectively as the "ECCA Companies" or individually
as an "ECCA Company."

                               W I T N E S S E T H

       WHEREAS, concurrent with the execution hereof, the parties hereto,
Vision Twenty-One, Inc., a Florida corporation ("Vision 21"), and certain
other parties, are entering into that certain Settlement Agreement (the
"Settlement Agreement") pursuant to which certain outstanding matters between
the parties thereto are being resolved;

       WHEREAS, certain of the ECCA Companies and the optometrists with
practices located adjacent to or within the retail optical stores owned or
operated by any ECCA Company are currently on the managed care panels with
respect to managed vision care contracts secured or administered by the
Company;

       WHEREAS, the Company is receiving benefits from the Settlement
Agreement and, in connection therewith, has agreed to execute this Agreement
providing the ECCA Companies and certain optometrists will have the continued
right to participate on the managed care panels with respect to managed
vision care contracts secured or administered by the Company;

       NOW, THEREFORE, in consideration of the premises and mutual covenants
and agreements of the parties hereinafter contained and other good and
valuable consideration the receipt of which is hereby acknowledged by each
party, the parties hereby agree as follows:

       Section 1. PARTICIPATION ON PANELS. For the period commencing on the
date hereof and ending on the fifth anniversary of the date hereof, unless
otherwise specified by the associated employer group or managed care entity,
to the extent permitted by applicable law and subject to the credentialing
and other participatory requirements of each managed vision care plan, and
continued compliance by the ECCA Participants (as defined below) with the
terms and conditions of the applicable provider agreements, including all
managed care entity-specific provisions included therein (subject to the
non-discriminatory restrictions below), the Company shall include all of the
optical retail stores of the ECCA Companies and all of the ECCA Optometrists,
including new store locations and optometrists (and their respective
professional entities) that may hereinafter become ECCA Optometrists
(collectively, the "ECCA Participants"), on each of the provider panels of
managed vision care plans secured or administered by the Company covering
markets in which such ECCA Participant is located. The Company shall take
such actions as reasonably necessary to insure that the ECCA Participants are
not discriminated against with respect to participation on such provider
panels and receive the same benefits and treatment as the other members of
the panels, except for the compensation and reimbursement to be paid by the
Company to the ECCA Participants on existing contracts which has been and
shall continue to be at the same rates set forth under presently existing
managed vision care contracts. The ECCA Participants will be included on the
panels of such managed vision care plans immediately following the execution
of this Agreement, subject to the credentialing and other participatory
requirements.

<PAGE>

With respect to new managed vision care contracts after the date hereof, the
Company and ECCA agree that (i) any decrease in historical reimbursement
rates shall be as mutually agreed upon, (ii) the Company shall negotiate
reimbursement rates in good faith and not arbitrarily or capriciously offer
lower rates to discourage ECCA from accepting new contracts and (iii)
reimbursement rates will be proportionate to rates currently in effect and
relative to reimbursement levels offered to non-ECCA panel members taking
into account the size and scope of the ECCA panel members. The Company shall
use its reasonable best efforts to assist the ECCA Participants in the
application process for obtaining the requisite credentialing to participate
on such provider panels. If the credentialing is denied for any reason or if
any ECCA Participant is removed from a panel for non-compliance with the
participation requirements, the Vision 21 Companies shall provide, or cause
to be provided, to the ECCA Participants, within 30 days of such denial or
removal, the basis for denying the credentialing or removing the ECCA
Participant from the panel and an opportunity to cure the deficiency of the
ECCA Participant in order to secure or maintain, as the case may be, a
position on such provider panels. If, after the date hereof, an ECCA Company
bids on a managed vision care contract that is then awarded to the Company,
then the Vision 21 Company will not be obligated to include the ECCA
Participants on the provider panel solely as it relates to such managed
vision care contract; provided, however the foregoing shall not affect right
of the ECCA Participants to participate on the provider panels as they relate
to all other managed vision care contracts.

       Section 2.    DEFINITIONS.

       (a)    "AFFILIATE" as to any person or entity shall mean any entity or
person that directly or indirectly through one or more intermediaries
controls, is controlled by or is under common control with, the specified
person or entity. The term "control" for this purpose shall mean the ability,
whether by the ownership of shares or other equity interest, by contract or
otherwise, to elect a majority of the directors of a corporation, to
independently select the general partner of a partnership, or otherwise to
have the power independently to remove and then select a majority of those
persons exercising governing authority over an entity. "Control" shall be
conclusively presumed in the case of direct or indirect ownership of 50% or
more of the equity interest by such person or entity. Notwithstanding the
foregoing, in no event shall the term "Affiliate" with respect to ECCA
include Thomas H. Lee Company or any of its Affiliates (other than ECCA and
its subsidiaries).

       "ECCA OPTOMETRISTS" shall mean all of the optometrists (and their
respective professional entities through whom they perform optometric
services) (i) who are then employed by any of the ECCA Companies, or have
been so employed in the preceding twelve (12) months, (ii) to whom an ECCA
Company then provides management services or has provided management services
in the preceding twelve (12) months, (iii) who are then employed by any other
optometrists (or professionally entity owned by an optometrist), or have been
so employed in the preceding twelve (12) months, to whom an ECCA Company then
provides management services; or (iv) who have practices then located, or
located within the preceding twelve (12) months, adjacent to or within (or
near if such space is sublet by an ECCA Company) the stores owned or operated
by any ECCA Company including, without limitation, optometrist employed by
the Vision 21 Practices.

         "Parties" means the Company, ECCA, Enclave and Visionworks.

                                       2
<PAGE>

       Section 3.    MISCELLANEOUS.

       (a)    TIME IS OF THE ESSENCE. Time is of the essence in the
performance of this Agreement.

       (b)    ARBITRATION; WAIVER OF TRIAL BY JURY Any and every dispute of
any nature whatsoever that may arise between any of the Parties, whether
founded in contract, statute, tort, fraud, misrepresentation, discrimination
or any other legal theory, including, but not limited to, disputes relating
to or involving the construction, performance or breach of this Agreement, or
any schedule, certificate or other document delivered by any Party hereto, or
any other agreement between the Parties, whether entered into prior to, on,
or subsequent to the date of this Agreement, or those arising under any
federal, state or local law, regulation or ordinance, shall be determined by
binding arbitration in accordance with the then current commercial
arbitration rules of the American Arbitration Association, to the extent such
rules do not conflict with the provisions of this paragraph. If the amount in
controversy in the arbitration exceeds Two Hundred Fifty Thousand Dollars
($250,000), exclusive of interest, attorneys' fees and costs, the arbitration
shall be conducted by a panel of three (3) neutral arbitrators. Otherwise,
the arbitration shall be conducted by a single neutral arbitrator. The
Parties shall endeavor to select neutral arbitrators by mutual agreement. If
such agreement cannot be reached within thirty (30) calendar days after a
dispute has arisen which is to be decided by arbitration, any Party or the
Parties jointly shall request the American Arbitration Association to submit
to each Party an identical panel of fifteen (15) persons. Alternate strikes
shall be made to the panel, commencing with the Party bringing the claim,
until the names of three (3) persons remain, or one (1) person if the case is
to be heard by a single arbitrator. The Parties may, however, by mutual
agreement, request the American Arbitration Association to submit additional
panels of possible arbitrators. The person(s) thus remaining shall be the
arbitrator(s) for such arbitration. If three (3) arbitrators are selected,
the arbitrators shall elect a chairperson to preside at all meetings and
hearings. The arbitrator(s), or a majority of them, shall have the power to
determine all matters incident to the conduct of the arbitration, including
without limitation all procedural and evidentiary matters and the scheduling
of any hearing. The award made by a majority of the arbitrators shall be
final and binding upon the Parties thereto and the subject matter. The
arbitration shall be governed by the United States Arbitration Act, 9 U.S.C.
Sections 1-16, and judgment upon the award rendered by the arbitrator(s) may
be entered by any court having jurisdiction thereof. The arbitrators shall
have authority to award damages, arbitration costs, attorneys' fees,
declaratory relief and permanent injunctive relief, if applicable, in
accordance with the terms of this Agreement. Unless otherwise agreed by the
Parties, the arbitration shall be held in San Antonio, Texas. This SECTION
3(b) shall not prevent any of the Parties from seeking a temporary
restraining order or temporary or preliminary injunctive relief from a court
of competent jurisdiction in order to protect its rights under this
Agreement. In the event a Party seeks such injunctive relief pursuant to this
Agreement, such action shall not constitute a waiver of the provisions of
this SECTION 3(b), which shall continue to govern any and every dispute
between the Parties, including without limitation the right to damages,
permanent injunctive relief and any other remedy, at law or in equity.

       EACH OF THE PARTIES TO THIS AGREEMENT WAIVES ANY RIGHT TO TRIAL BY
JURY OF ANY DISPUTE OF ANY NATURE WHATSOEVER THAT MAY ARISE BETWEEN THEM,
INCLUDING, BUT NOT LIMITED TO, THOSE DISPUTES RELATING TO OR INVOLVING, IN
ANY WAY THE CONSTRUCTION, PERFORMANCE OR BREACH OF THIS AGREEMENT OR ANY
OTHER AGREEMENT BETWEEN THE PARTIES, THE PROVISIONS OF ANY FEDERAL, STATE OR
LOCAL LAW, REGULATION OR ORDINANCE NOTWITHSTANDING. By execution of this
agreement, each of the parties hereto acknowledges and agrees that it has had
an opportunity to consult with legal counsel and that it knowingly and
voluntarily waives any right to a trial by jury of any dispute pertaining to
or relating in any way to the transactions contemplated by this Agreement,
the provisions of any federal, state or local law, regulation or ordinance
notwithstanding.

                                       3
<PAGE>

       (c)    EXPENSES. Each Party shall pay its own expenses relating to
this Agreement including, without limitation, the fees and expenses of their
respective counsel and financial advisors.

       (d)    GOVERNING LAW. The interpretation and construction of this
Agreement and all matters relating hereto, shall be governed by the internal
laws of the State of Texas without regard to conflict of laws principles.

       (e)    ENFORCEMENT; VENUE; SERVICE OF PROCESS. In the event any Party
shall seek enforcement of any covenant, warranty or other term or provision
of this Agreement or seek to recover damages for the breach thereof, the
Party which prevails in such proceedings shall be entitled to recover
reasonable attorneys' fees and expenses actually incurred by it in connection
therewith. Subject to SECTION 3(b) and without waiving the same, the Parties
agree that this Agreement is performable in Bexar County, Texas and that the
sole and exclusive venue for any proceeding involving any claim arising under
or relating to this Agreement shall be in Bexar County, Texas. The Parties
agree that the service of process or any other papers upon any of them by any
of the methods specified in and in accordance with SECTION 3(g) (other than
by facsimile) shall be deemed good, proper, and effective service upon them.

       (f)    CAPTIONS; REFERENCES. The Section captions used herein are for
reference purposes only, and shall not in any way affect the meaning or
interpretation of this Agreement. References to a "Section" when used without
further attribution shall refer to the particular section of this Agreement.

       (g)    NOTICES. Any notice or other communications required or
permitted hereunder shall be in writing and, unless otherwise provided
herein, shall be deemed to have been duly given upon delivery in person, by
facsimile, by overnight courier or by certified or registered mail, return
receipt requested, as follows:

       If to the Company:                 Vision Twenty-One of Wisconsin, Inc.
                                          621 N. W. 53rd Street, Suite 600
                                          Boca Raton, Florida 33487
                                          Attention: Andrew Alcorn, President
                                          (561) 241-5126-4371

          With a copy to:                 Shumaker, Loop & Kendrick, LLP
                                          101 E. Kennedy Boulevard
                                          Suite 2800
                                          Tampa, Florida  33602
                                          Attention:  Darrell C. Smith, Esquire
                                          Facsimile:  (813) 229-1660

       If to any of the ECCA Companies:   Eye Care Centers of America, Inc.
                                          11103 West Avenue
                                          San Antonio, Texas 78213-1392
                                          Attention:  Bernard W. Andrews, CEO
                                          Facsimile: (210) 524-6996

          With a copy to:                 Cox & Smith Incorporated
                                          112 E. Pecan, Suite 1800
                                          San Antonio, Texas 78205
                                          Attention: J. Daniel Harkins or
                                            Steven A. Elder
                                          Facsimile: (210) 226-8395

                                       4
<PAGE>

or at such other address or telecopy number as shall have been furnished in
writing by any such Party, except that such notice of such change shall be
effective only upon receipt. Each such notice or other communication shall be
effective when received or, if given by mail, when delivered at the address
specified in this SECTION 3(g) or on the fifth business day following the
date on which such communication is posted, whichever occurs first.
Notwithstanding any provision in this Agreement to the contrary, any notice
properly delivered to ECCA shall be deemed properly delivered to all of the
ECCA Companies.

       (h)    PARTIES IN INTEREST. This Agreement shall be binding upon and
shall inure to the benefit of the Parties and their respective successors and
permitted assigns. This Agreement may not be transferred, assigned, pledged
or hypothecated by the Company without the consent of ECCA. The Company
agrees that in the event of any transfer by any such company of all or
substantially all of its assets (or all or substantially all of the assets of
a operating division), the acquirer of such assets shall be required to
assume the Company's obligations hereunder.

       (i)    COUNTERPARTS. This Agreement may be executed in two or more
counterparts, all of which taken together shall constitute one instrument.

       (j)    ENTIRE AGREEMENT. This Agreement, including the other documents
referred to herein which form a part hereof or any other written agreements
that the Parties enter into pursuant to or relating to the transactions
contemplated herein, contains the entire understanding of the Parties with
respect to the subject matter contained herein and therein. This Agreement
supersedes all prior agreements and understandings between the Parties with
respect to such subject matter. All exhibits and schedules referred to herein
and attached hereto are incorporated herein by reference. The Parties
acknowledge that except as expressly provided herein, the Asset Purchase
Agreement and all rights and obligations thereunder shall not be amended or
modified by the terms of this Agreement and shall remain in full force and
effect.

       (k)    AMENDMENTS. This Agreement may not be changed orally, but only
by an agreement in writing signed by the Parties.

       (l)    SEVERABILITY. Whenever possible each provision and term of this
Agreement will be interpreted in a manner to be effective and valid but if
any provision or term of this Agreement is held to be prohibited by law or
invalid, then such provision or term will be ineffective only to the extent
of such prohibition or invalidity, without invalidating or affecting in any
manner whatsoever the remainder of such provision or term or the remaining
provisions or terms of this Agreement. If any covenants or any portion
thereof set forth in this Agreement is held by a court of competent
jurisdiction to contain limitations as to duration, geographical area or
scope of activity to be restrained that are not reasonable and impose a
greater restraint than is necessary to protect the goodwill or other business
interests of the affected party, the same shall not affect the remainder of
the covenant or covenants contained therein, which shall be given full
effect, without regard to the invalid portions, and any court having
jurisdiction shall reform the covenants to the extent necessary to cause the
limitations contained therein as to duration, geographical area and scope of
activity to be restrained to be reasonable and to impose a restraint that is
not greater than necessary to protect the goodwill or other business
interests of the affected party and enforce the covenants as reformed.

       (m)    JOINT PREPARATION. This Agreement has been prepared by the
joint efforts of the respective attorneys to each of the Parties. No
provision of this Agreement shall be construed on the basis that such Party
was the author of such provision.

       (n)    WAIVER. The rights and remedies of the Parties are cumulative
and not alternative. Neither the failure nor any delay by any Party in
exercising any right, power, or privilege under this

                                       5
<PAGE>

Agreement or the documents referred to in this Agreement will operate as a
waiver of such right, power, or privilege, and no single or partial exercise
of any such right, power, or privilege will preclude any other or further
exercise of such right, power, or privilege or the exercise of any other
right, power, or privilege. To the maximum extent permitted by applicable
law, (a) no claim or right arising out of this Agreement or the documents
referred to in this Agreement can be discharged by one Party, in whole or in
part, by a waiver or renunciation of the claim or right unless provided in
writing signed by the other parties; (b) no waiver that may be given by a
Party will be applicable except in the specific instance for which it is
given; and (c) no notice to or demand on one Party will be deemed to be a
waiver of any obligation of such Party or of the right of the Party giving
such notice or demand to take further action without notice or demand as
provided in this Agreement or the documents referred to in this Agreement.

       IN WITNESS WHEREOF, each of the Parties have executed this Agreement
to be effective as of the day and year first above written.

                                EYE CARE CENTERS OF AMERICA, INC.

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

                                ENCLAVE ADVANCEMENT GROUP, INC.

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

                                VISIONWORKS, INC.

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

                                VISION TWENTY-ONE OF WISCONSIN, INC.

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

                                       6

<PAGE>

                                    EXHIBIT I
                      FORM OF MANAGED VISION CARE AGREEMENT
             [Vision Twenty-One Managed Eye Care of Tampa Bay, Inc.]

       This Managed Vision Care Agreement is executed this ____ day of
______, 2000 by Vision Twenty-One Managed Eye Care of Tampa Bay, Inc., a
Wisconsin corporation (the "Company") for the benefit of Eye Care Centers of
America, Inc., a Texas corporation ("ECCA"), Visionworks, Inc., a Florida
corporation and wholly-owned subsidiary of ECCA ("Visionworks"), Enclave
Advancement Group, Inc., a Delaware corporation and wholly-owned subsidiary
of ECCA ("Enclave") and their respective subsidiaries and Affiliates. ECCA,
Visionworks, Enclave and their respective subsidiaries and Affiliates (as
hereinafter defined) are hereinafter referred to collectively as the "ECCA
Companies" or individually as an "ECCA Company."

                               W I T N E S S E T H

       WHEREAS, concurrent with the execution hereof, the parties hereto,
Vision Twenty-One, Inc., a Florida corporation ("Vision 21"), and certain
other parties, are entering into that certain Settlement Agreement (the
"Settlement Agreement") pursuant to which certain outstanding matters between
the parties thereto are being resolved;

       WHEREAS, certain of the ECCA Companies and the optometrists with
practices located adjacent to or within the retail optical stores owned or
operated by any ECCA Company are currently on the managed care panels with
respect to managed vision care contracts secured or administered by the
Company;

       WHEREAS, the Company is receiving benefits from the Settlement
Agreement and, in connection therewith, has agreed to execute this Agreement
providing the ECCA Companies and certain optometrists will have the continued
right to participate on the managed care panels with respect to managed
vision care contracts secured or administered by the Company;

       NOW, THEREFORE, in consideration of the premises and mutual covenants
and agreements of the parties hereinafter contained and other good and
valuable consideration the receipt of which is hereby acknowledged by each
party, the parties hereby agree as follows:

       Section 1. PARTICIPATION ON PANELS. For the period commencing on the
date hereof and ending on the fifth anniversary of the date hereof, unless
otherwise specified by the associated employer group or managed care entity,
to the extent permitted by applicable law and subject to the credentialing
and other participatory requirements of each managed vision care plan, and
continued compliance by the ECCA Participants (as defined below) with the
terms and conditions of the applicable provider agreements, including all
managed care entity-specific provisions included therein (subject to the
non-discriminatory restrictions below), the Company shall include all of the
optical retail stores of the ECCA Companies and all of the ECCA Optometrists,
including new store locations and optometrists (and their respective
professional entities) that may hereinafter become ECCA Optometrists
(collectively, the "ECCA Participants"), on each of the provider panels of
managed vision care plans secured or administered by the Company covering
markets in which such ECCA Participant is located. The Company shall take
such actions as reasonably necessary to insure that the ECCA Participants are
not discriminated against with respect to participation on such provider
panels and receive the same benefits and treatment as the other members of
the panels, except for the compensation and reimbursement to be paid by the
Company to the ECCA Participants on existing contracts which has been and
shall continue to be at the same rates set forth under presently existing
managed vision care contracts. The ECCA Participants will be included on the
panels of such managed vision care plans immediately following the execution
of this Agreement, subject to the credentialing and other participatory
requirements.

<PAGE>

With respect to new managed vision care contracts after the date hereof, the
Company and ECCA agree that (i) any decrease in historical reimbursement
rates shall be as mutually agreed upon, (ii) the Company shall negotiate
reimbursement rates in good faith and not arbitrarily or capriciously offer
lower rates to discourage ECCA from accepting new contracts and (iii)
reimbursement rates will be proportionate to rates currently in effect and
relative to reimbursement levels offered to non-ECCA panel members taking
into account the size and scope of the ECCA panel members. The Company shall
use its reasonable best efforts to assist the ECCA Participants in the
application process for obtaining the requisite credentialing to participate
on such provider panels. If the credentialing is denied for any reason or if
any ECCA Participant is removed from a panel for non-compliance with the
participation requirements, the Vision 21 Companies shall provide, or cause
to be provided, to the ECCA Participants, within 30 days of such denial or
removal, the basis for denying the credentialing or removing the ECCA
Participant from the panel and an opportunity to cure the deficiency of the
ECCA Participant in order to secure or maintain, as the case may be, a
position on such provider panels. If, after the date hereof, an ECCA Company
bids on a managed vision care contract that is then awarded to the Company,
then the Vision 21 Company will not be obligated to include the ECCA
Participants on the provider panel solely as it relates to such managed
vision care contract; provided, however the foregoing shall not affect right
of the ECCA Participants to participate on the provider panels as they relate
to all other managed vision care contracts.

       Section 2.    DEFINITIONS.

       (a)    "AFFILIATE" as to any person or entity shall mean any entity or
person that directly or indirectly through one or more intermediaries
controls, is controlled by or is under common control with, the specified
person or entity. The term "control" for this purpose shall mean the ability,
whether by the ownership of shares or other equity interest, by contract or
otherwise, to elect a majority of the directors of a corporation, to
independently select the general partner of a partnership, or otherwise to
have the power independently to remove and then select a majority of those
persons exercising governing authority over an entity. "Control" shall be
conclusively presumed in the case of direct or indirect ownership of 50% or
more of the equity interest by such person or entity. Notwithstanding the
foregoing, in no event shall the term "Affiliate" with respect to ECCA
include Thomas H. Lee Company or any of its Affiliates (other than ECCA and
its subsidiaries).

       "ECCA OPTOMETRISTS" shall mean all of the optometrists (and their
respective professional entities through whom they perform optometric
services) (i) who are then employed by any of the ECCA Companies, or have
been so employed in the preceding twelve (12) months, (ii) to whom an ECCA
Company then provides management services or has provided management services
in the preceding twelve (12) months, (iii) who are then employed by any other
optometrists (or professionally entity owned by an optometrist), or have been
so employed in the preceding twelve (12) months, to whom an ECCA Company then
provides management services; or (iv) who have practices then located, or
located within the preceding twelve (12) months, adjacent to or within (or
near if such space is sublet by an ECCA Company) the stores owned or operated
by any ECCA Company including, without limitation, optometrist employed by
the Vision 21 Practices.

       "Parties" means the Company, ECCA, Enclave and Visionworks.

                                       2
<PAGE>

       Section 3.    MISCELLANEOUS.

       (a)    TIME IS OF THE ESSENCE. Time is of the essence in the
performance of this Agreement.

       (b)    ARBITRATION; WAIVER OF TRIAL BY JURY Any and every dispute of
any nature whatsoever that may arise between any of the Parties, whether
founded in contract, statute, tort, fraud, misrepresentation, discrimination
or any other legal theory, including, but not limited to, disputes relating
to or involving the construction, performance or breach of this Agreement, or
any schedule, certificate or other document delivered by any Party hereto, or
any other agreement between the Parties, whether entered into prior to, on,
or subsequent to the date of this Agreement, or those arising under any
federal, state or local law, regulation or ordinance, shall be determined by
binding arbitration in accordance with the then current commercial
arbitration rules of the American Arbitration Association, to the extent such
rules do not conflict with the provisions of this paragraph. If the amount in
controversy in the arbitration exceeds Two Hundred Fifty Thousand Dollars
($250,000), exclusive of interest, attorneys' fees and costs, the arbitration
shall be conducted by a panel of three (3) neutral arbitrators. Otherwise,
the arbitration shall be conducted by a single neutral arbitrator. The
Parties shall endeavor to select neutral arbitrators by mutual agreement. If
such agreement cannot be reached within thirty (30) calendar days after a
dispute has arisen which is to be decided by arbitration, any Party or the
Parties jointly shall request the American Arbitration Association to submit
to each Party an identical panel of fifteen (15) persons. Alternate strikes
shall be made to the panel, commencing with the Party bringing the claim,
until the names of three (3) persons remain, or one (1) person if the case is
to be heard by a single arbitrator. The Parties may, however, by mutual
agreement, request the American Arbitration Association to submit additional
panels of possible arbitrators. The person(s) thus remaining shall be the
arbitrator(s) for such arbitration. If three (3) arbitrators are selected,
the arbitrators shall elect a chairperson to preside at all meetings and
hearings. The arbitrator(s), or a majority of them, shall have the power to
determine all matters incident to the conduct of the arbitration, including
without limitation all procedural and evidentiary matters and the scheduling
of any hearing. The award made by a majority of the arbitrators shall be
final and binding upon the Parties thereto and the subject matter. The
arbitration shall be governed by the United States Arbitration Act, 9 U.S.C.
Sections 1-16, and judgment upon the award rendered by the arbitrator(s) may
be entered by any court having jurisdiction thereof. The arbitrators shall
have authority to award damages, arbitration costs, attorneys' fees,
declaratory relief and permanent injunctive relief, if applicable, in
accordance with the terms of this Agreement. Unless otherwise agreed by the
Parties, the arbitration shall be held in San Antonio, Texas. This SECTION
3(b) shall not prevent any of the Parties from seeking a temporary
restraining order or temporary or preliminary injunctive relief from a court
of competent jurisdiction in order to protect its rights under this
Agreement. In the event a Party seeks such injunctive relief pursuant to this
Agreement, such action shall not constitute a waiver of the provisions of
this SECTION 3(b), which shall continue to govern any and every dispute
between the Parties, including without limitation the right to damages,
permanent injunctive relief and any other remedy, at law or in equity.

       EACH OF THE PARTIES TO THIS AGREEMENT WAIVES ANY RIGHT TO TRIAL BY
JURY OF ANY DISPUTE OF ANY NATURE WHATSOEVER THAT MAY ARISE BETWEEN THEM,
INCLUDING, BUT NOT LIMITED TO, THOSE DISPUTES RELATING TO OR INVOLVING, IN
ANY WAY THE CONSTRUCTION, PERFORMANCE OR BREACH OF THIS AGREEMENT OR ANY
OTHER AGREEMENT BETWEEN THE PARTIES, THE PROVISIONS OF ANY FEDERAL, STATE OR
LOCAL LAW, REGULATION OR ORDINANCE NOTWITHSTANDING. By execution of this
agreement, each of the parties hereto acknowledges and agrees that it has had
an opportunity to consult with legal counsel and that it knowingly and
voluntarily waives any right to a trial by jury of any dispute pertaining to
or relating in any way to the transactions contemplated by this Agreement,
the provisions of any federal, state or local law, regulation or ordinance
notwithstanding.

                                       3
<PAGE>

       (c)    EXPENSES. Each Party shall pay its own expenses relating to
this Agreement including, without limitation, the fees and expenses of their
respective counsel and financial advisors.

       (d)    GOVERNING LAW. The interpretation and construction of this
Agreement and all matters relating hereto, shall be governed by the internal
laws of the State of Texas without regard to conflict of laws principles.

       (e)    ENFORCEMENT; VENUE; SERVICE OF PROCESS. In the event any Party
shall seek enforcement of any covenant, warranty or other term or provision
of this Agreement or seek to recover damages for the breach thereof, the
Party which prevails in such proceedings shall be entitled to recover
reasonable attorneys' fees and expenses actually incurred by it in connection
therewith. Subject to SECTION 3(b) and without waiving the same, the Parties
agree that this Agreement is performable in Bexar County, Texas and that the
sole and exclusive venue for any proceeding involving any claim arising under
or relating to this Agreement shall be in Bexar County, Texas. The Parties
agree that the service of process or any other papers upon any of them by any
of the methods specified in and in accordance with SECTION 3(g) (other than
by facsimile) shall be deemed good, proper, and effective service upon them.

       (f)    CAPTIONS; REFERENCES. The Section captions used herein are for
reference purposes only, and shall not in any way affect the meaning or
interpretation of this Agreement. References to a "Section" when used without
further attribution shall refer to the particular section of this Agreement.

       (g)    NOTICES. Any notice or other communications required or
permitted hereunder shall be in writing and, unless otherwise provided
herein, shall be deemed to have been duly given upon delivery in person, by
facsimile, by overnight courier or by certified or registered mail, return
receipt requested, as follows:

       If to the Company:                 Vision Twenty-One Managed Eye Care of
                                          Tampa Bay, Inc.
                                          621 N. W. 53rd Street, Suite 600
                                          Boca Raton, Florida 33487
                                          Attention: Andrew Alcorn, President
                                          Facsimile:  (561) 241-5126-4371

          With a copy to:                 Shumaker, Loop & Kendrick, LLP
                                          101 E. Kennedy Boulevard
                                          Suite 2800
                                          Tampa, Florida  33602
                                          Attention:  Darrell C. Smith, Esquire
                                          Facsimile:  (813) 229-1660

       If to any of the ECCA Companies:   Eye Care Centers of America, Inc.
                                          11103 West Avenue
                                          San Antonio, Texas 78213-1392
                                          Attention:  Bernard W. Andrews, CEO
                                          Facsimile: (210) 524-6996

          With a copy to:                 Cox & Smith Incorporated
                                          112 E. Pecan, Suite 1800
                                          San Antonio, Texas 78205
                                          Attention: J. Daniel Harkins or
                                           Steven A. Elder
                                          Facsimile: (210) 226-8395

                                       4
<PAGE>

or at such other address or telecopy number as shall have been furnished in
writing by any such Party, except that such notice of such change shall be
effective only upon receipt. Each such notice or other communication shall be
effective when received or, if given by mail, when delivered at the address
specified in this SECTION 3(g) or on the fifth business day following the
date on which such communication is posted, whichever occurs first.
Notwithstanding any provision in this Agreement to the contrary, any notice
properly delivered to ECCA shall be deemed properly delivered to all of the
ECCA Companies.

       (h)    PARTIES IN INTEREST. This Agreement shall be binding upon and
shall inure to the benefit of the Parties and their respective successors and
permitted assigns. This Agreement may not be transferred, assigned, pledged
or hypothecated by the Company without the consent of ECCA. The Company
agrees that in the event of any transfer by any such company of all or
substantially all of its assets (or all or substantially all of the assets of
a operating division), the acquirer of such assets shall be required to
assume the Company's obligations hereunder.

       (i)    COUNTERPARTS. This Agreement may be executed in two or more
counterparts, all of which taken together shall constitute one instrument.

       (j)    ENTIRE AGREEMENT. This Agreement, including the other documents
referred to herein which form a part hereof or any other written agreements
that the Parties enter into pursuant to or relating to the transactions
contemplated herein, contains the entire understanding of the Parties with
respect to the subject matter contained herein and therein. This Agreement
supersedes all prior agreements and understandings between the Parties with
respect to such subject matter. All exhibits and schedules referred to herein
and attached hereto are incorporated herein by reference. The Parties
acknowledge that except as expressly provided herein, the Asset Purchase
Agreement and all rights and obligations thereunder shall not be amended or
modified by the terms of this Agreement and shall remain in full force and
effect.

       (k)    AMENDMENTS. This Agreement may not be changed orally, but only
by an agreement in writing signed by the Parties.

       (l)    SEVERABILITY. Whenever possible each provision and term of this
Agreement will be interpreted in a manner to be effective and valid but if
any provision or term of this Agreement is held to be prohibited by law or
invalid, then such provision or term will be ineffective only to the extent
of such prohibition or invalidity, without invalidating or affecting in any
manner whatsoever the remainder of such provision or term or the remaining
provisions or terms of this Agreement. If any covenants or any portion
thereof set forth in this Agreement is held by a court of competent
jurisdiction to contain limitations as to duration, geographical area or
scope of activity to be restrained that are not reasonable and impose a
greater restraint than is necessary to protect the goodwill or other business
interests of the affected party, the same shall not affect the remainder of
the covenant or covenants contained therein, which shall be given full
effect, without regard to the invalid portions, and any court having
jurisdiction shall reform the covenants to the extent necessary to cause the
limitations contained therein as to duration, geographical area and scope of
activity to be restrained to be reasonable and to impose a restraint that is
not greater than necessary to protect the goodwill or other business
interests of the affected party and enforce the covenants as reformed.

       (m)    JOINT PREPARATION. This Agreement has been prepared by the
joint efforts of the respective attorneys to each of the Parties. No
provision of this Agreement shall be construed on the basis that such Party
was the author of such provision.

       (n)    WAIVER. The rights and remedies of the Parties are cumulative
and not alternative. Neither the failure nor any delay by any Party in
exercising any right, power, or privilege under this

                                       5
<PAGE>

Agreement or the documents referred to in this Agreement will operate as a
waiver of such right, power, or privilege, and no single or partial exercise
of any such right, power, or privilege will preclude any other or further
exercise of such right, power, or privilege or the exercise of any other
right, power, or privilege. To the maximum extent permitted by applicable
law, (a) no claim or right arising out of this Agreement or the documents
referred to in this Agreement can be discharged by one Party, in whole or in
part, by a waiver or renunciation of the claim or right unless provided in
writing signed by the other parties; (b) no waiver that may be given by a
Party will be applicable except in the specific instance for which it is
given; and (c) no notice to or demand on one Party will be deemed to be a
waiver of any obligation of such Party or of the right of the Party giving
such notice or demand to take further action without notice or demand as
provided in this Agreement or the documents referred to in this Agreement.

       IN WITNESS WHEREOF, each of the Parties have executed this Agreement
to be effective as of the day and year first above written.

                                EYE CARE CENTERS OF AMERICA, INC.

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

                                ENCLAVE ADVANCEMENT GROUP, INC.

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

                                VISIONWORKS, INC.

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

                                VISION TWENTY-ONE MANAGED EYE CARE
                                 OF TAMPA BAY, INC.

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

                                       6
<PAGE>

                                    EXHIBIT J
                                   LITIGATION

       Vision Insurance Plan of America, Inc. ("VIPA"), a Subsidiary of Vision
21 of Wisconsin, Inc., is currently in discussions with the Office of the
Commissioner of Insurance of the State of Wisconsin concerning a proposed
Stipulation and Order that would require VIPA to notify the State of Wisconsin
and receive approval of certain transactions. Vision 21 has no reason to believe
this would affect its ability to perform its obligations under the Settlement
Agreement, but there can be no assurance that this will be the case.

<PAGE>

                                    EXHIBIT K
                                  PAYMENT TERMS

       Amount: $1,531,873 plus accrued interest

       Facility: Convertible Note. Conversion feature will be priced at the
greater of $0.18 per share or the market price on the Closing Date of the new
bank credit agreement and will not contain a lock-up period other than as set
forth below

       The Conversion Note will establish reasonable notice requirements and
"piggyback" registration rights regarding conversion to equity. The form of the
Conversion Note shall be in a form reasonably acceptable to ECCA and will be
substantially in the form of the conversion note issued to the lenders in
connection with the new bank credit agreement as described on Exhibit L to the
Settlement Agreement. If the convertible debt issued to the lenders in
connection with the new bank credit facility are changed to terms more favorable
to the lenders (as compared to the terms on Exhibit L), unless otherwise agreed
to by ECCA the Conversion Note issued to ECCA shall reflect the more favorable
terms offered to the lenders.

Collateral:       Unsecured

Maturity Date:    September 30, 2003

Pricing:          Interest will accrue at 7% per annum and will be payable on
                  the Maturity Date.

Conversion Limitation: Conversion of the note into common shares will be
                  prohibited until April 1, 2001. 5% of note amount will become
                  convertible on April 1, 2001 and on July 1, 2001. 10% of the
                  note amount will become convertible on October 1, 2001,
                  January 1, 2002, April 1, 2002 and on July 1, 2002. Commencing
                  on October 1, 2002 there will be no restrictions on
                  convertibility of the remaining note balance.

<PAGE>

                                    EXHIBIT L
                               RESTRUCTURING TERMS<PAGE>

                              INVESTMENT AGREEMENT

                                  by and among

                        willis lease finance corporation,

                              Flighttechnics, LLC,

                                 flightlease ag,

                                sr technics group

                                       and

                         SR TECHNICS GROUP AMERICA, INC.

                                November 7, 2000

<PAGE>

                        WILLIS LEASE FINANCE CORPORATION

                              INVESTMENT AGREEMENT

      THIS INVESTMENT AGREEMENT (the "Agreement") is made as of November 7, 2000
by and among WILLIS LEASE FINANCE CORPORATION, a Delaware corporation (the
"Company"), FLIGHTTECHNICS, LLC, a Delaware limited liability company (the
"Investor"), FLIGHTLEASE AG, a company organized under the laws of Switzerland
("Flightlease"), SR TECHNICS Group, a company organized under the laws of
Switzerland ("SRT"), SR TECHNICS GROUP AMERICA, INC., a Delaware corporation
("SRT Group America") and any person which is a SAirGroup Affiliate as defined
in the Stockholder's Agreement dated as of the date hereof (the "Stockholders'
Agreement") and which executes a counterpart of this Agreement.

      WHEREAS, the Company desires to issue to the Investor, and the Investor
desires to acquire from the Company, common stock of the Company as herein
described, on the terms and conditions set forth in this Agreement.

      NOW, THEREFORE, the parties, intending to be legally bound, agree as
follows:

      1. Purchase and Sale of Stock and Option to Purchase Additional Stock. The
Investor hereby agrees to purchase from the Company, and the Company hereby
agrees to sell to the Investor, an aggregate of One Million Three Hundred
Thousand (1,300,000) shares of the common stock of the Company, par value
US$0.01, (the "Stock") for US$15.00 per share, for an aggregate purchase price
of US$19,500,000. The closing hereunder (the "First Closing"), including payment
for and delivery of the Stock, will occur at the offices of the Company within
five business days of the satisfaction of all of the conditions contained in
Section 7(a), or at such other time and place as the parties mutually agree (the
"First Closing Date"). For a period beginning immediately after the First
Closing Date and ending on the eighteen month anniversary of the First Closing
Date, the Investor will have the one-time option (the "Option"), upon delivery
of a written notice to the Company and subject to satisfaction of all of the
conditions contained in Section 7(b), to purchase a number of additional shares
determined by the Investor of the common stock of the Company, par value US$0.01
(the "Additional Stock"), between One Million Seven Hundred Thousand (1,700,000)
and that number of shares that when added with the Stock would equal 34.9% of
the outstanding common stock of the Company immediately after and giving effect
to the exercise of the Option. The purchase price for the first One Million
Seven Hundred Thousand (1,700,000) shares of Additional Stock shall be US$15.00
per share and the purchase price for shares in excess thereof will be US$16.50
per share. If the Investor exercises the Option, the closing of the sale of the
Additional Stock (the "Second Closing"), including payment for and delivery of
the Additional Stock, will occur at the offices of the Company within five
business days of the satisfaction of all of the conditions contained in Section
7(b), or at such other time and place as the parties mutually agree (the "Second
Closing Date"). In each case the Stock and the Additional Stock will be issued
with a corresponding number of rights pursuant to the Rights Agreement as
amended (the "Rights Agreement"), dated as of September 24, 1999, by and between
the Company and the American Stock Transfer & Trust Company.

      2. Limitations on Transfer. The Investor will not sell, transfer, assign,
hypothecate, donate, encumber or otherwise dispose of any interest in the Stock
and the Additional Stock except in compliance with the provisions herein, in the
Stockholders' Agreement and applicable securities laws, rules and regulations.
The Company will not be

<PAGE>

required (a) to transfer on its books and records any shares of Stock and the
Additional Stock of the Company which will have been transferred in violation of
any of the provisions of this Agreement or (b) to treat as owner of such shares
or to accord the right to vote as such owner or to pay dividends to any
transferee to whom such shares will have been so transferred.

      3. Restrictive Legends. All certificates representing the Stock and the
Additional Stock will have endorsed thereon legends in substantially the
following forms (in addition to any legend required by appropriate state or
foreign securities laws and any other legend which may be required by other
agreements between the parties hereto):

            "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"). THEY MAY NOT BE
      SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN
      EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN
      OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS
      NOT REQUIRED."

            "THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD,
      ASSIGNED, TRANSFERRED, ENCUMBERED, OR IN ANY MANNER DISPOSED OF EXCEPT IN
      CONFORMITY WITH THE TERMS OF THE INVESTMENT AGREEMENT DATED AS OF NOVEMBER
      7, 2000, AS AMENDED FROM TIME TO TIME. THE SHARES REPRESENTED BY THIS
      CERTIFICATE ARE SUBJECT TO A STOCKHOLDERS' AGREEMENT DATED AS OF NOVEMBER
      7, 2000 THAT CONTAINS CERTAIN RESTRICTIONS ON THE RIGHT TO TRANSFER AND
      VOTE THE SHARES. THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF
      SUCH AGREEMENTS TO THE HOLDER OF THIS CERTIFICATE WITHOUT CHARGE."

            "THIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO
      CERTAIN RIGHTS AS SET FORTH IN A RIGHTS AGREEMENT DATED AS OF SEPTEMBER
      24, 1999 BETWEEN THE COMPANY AND AMERICAN STOCK TRANSFER & TRUST COMPANY,
      AS RIGHTS AGENT, AS AMENDED (THE "RIGHTS AGREEMENT"), THE TERMS AND
      CONDITIONS OF WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY
      OF WHICH IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF THE COMPANY.
      UNDER CERTAIN CIRCUMSTANCES SPECIFIED IN THE RIGHTS AGREEMENT, SUCH RIGHTS
      WILL BE REPRESENTED BY SEPARATE CERTIFICATES AND WILL NO LONGER BE
      REPRESENTED BY THIS CERTIFICATE. THE COMPANY WILL MAIL TO THE RECORD
      HOLDER OF THIS CERTIFICATE A COPY OF THE RIGHTS AGREEMENT WITHOUT CHARGE
      PROMPTLY FOLLOWING RECEIPT OF A WRITTEN REQUEST THEREFOR. UNDER CERTAIN
      CIRCUMSTANCES, RIGHTS BENEFICIALLY OWNED BY ANY PERSON WHO BECOMES A 15%
      STOCKHOLDER OR ANY AFFILIATE OR ASSOCIATE OF A 15% STOCKHOLDER (AS SUCH
      CAPITALIZED TERMS ARE DEFINED IN THE RIGHTS AGREEMENT) MAY BECOME NULL AND
      VOID."

      4. Company Representations.

                                       2
<PAGE>

            (a) In connection with the issuance of the Stock, the Company
      represents to the Investor, subject to the exceptions, modifications,
      supplements and disclosures contained, in the disclosure schedule
      delivered on or before the date of this Agreement (the "Disclosure
      Schedule"), as of the date hereof and, subject to the exceptions,
      modifications, supplements and disclosures contained, in the Disclosure
      Schedule and any supplement to the Disclosure Schedule delivered on or
      before the First Closing Date that discloses events or occurrences that
      occurred after the date hereof, as of the First Closing Date, the
      following:

                  (i) The Company is a corporation duly organized, validly
      existing and in good standing under the laws of the State of Delaware and
      has full corporate power and authority to conduct its business as
      presently conducted and as proposed to be conducted by it and to enter
      into and perform the Transaction Documents (as defined in Section
      7(a)(iii) below) and to carry out the transactions to be consummated
      hereby and thereby on the First Closing Date. The Company is duly
      qualified to do business as a foreign corporation and is in good standing
      in the State of California and in any other jurisdiction in which either
      the ownership or use of the properties owned or used by it, or the nature
      of the activities conducted by it, requires such qualification, except for
      those jurisdictions in which the failure to so qualify would not have a
      Company Material Adverse Effect. For purposes of this Agreement, a
      "Company Material Adverse Effect" means an event or occurrence that
      materially adversely affects the business, financial condition,
      operations, results of operations or properties (considered in the
      aggregate) of the Company and the Company Subsidiaries taken as a whole,
      provided that none of the following will be deemed, either alone or in
      combination, to constitute a Company Material Adverse Effect (i) general
      industry or economic conditions affecting the U.S., Swiss, European Union
      or world economy as a whole, (ii) conditions affecting the commercial
      airline, aircraft or aircraft engine manufacturing, the aircraft or
      aircraft engine parts or repair industry, so long as such conditions do
      not affect the Company and the Company Subsidiaries taken as a whole in a
      disproportionate manner as compared to companies of a similar size, or
      (iii) any disruption of customer, supplier or employee relationships
      resulting from the announcement of this Agreement or the other Transaction
      Documents or the consummation of the transactions contemplated hereby or
      thereby.

                  (ii) Each of the Company's subsidiaries (other than Pacific
      Gas Turbine Center, LLC and Willis Aeronautical Services, Inc.) (the
      "Company Subsidiaries") is a corporation duly organized, validly existing
      and in good standing under the laws of its state of incorporation and has
      full corporate power and authority to conduct its business as presently
      conducted and as proposed to be conducted. Each Company Subsidiary is duly
      qualified to do business as a foreign corporation and is in good standing
      in each jurisdiction in which either the ownership or use of the
      properties owned or used by it, or the nature of the activities conducted
      by it, requires such qualification, except for those jurisdictions in
      which the failure to so qualify would not have a Company Material Adverse
      Effect.

                  (iii) The authorized capital stock of the Company (immediately
      prior to the First Closing) consists of (a) 5,000,000 shares of preferred
      stock, US$0.01 par value per share, which may be issued from time to time
      in one or more series, of which 200,000 have been designated as the
      Company's Series A Junior Participating Preferred Stock, none of which are
      issued and outstanding and (b) 20,000,000 shares

                                       3
<PAGE>

      of common stock, US$0.01 par value per share of which 7,404,638 shares
      (the "Issued Stock") were issued and outstanding as of October 31, 2000.
      The Issued Stock represents all of the issued and outstanding shares of
      capital stock of the Company and all shares of Issued Stock have been duly
      authorized and validly issued and are fully paid and nonassessable. All of
      the shares of Issued Stock and other securities of the Company have been
      offered, issued and sold by the Company in compliance in all material
      respects with the Securities Act of 1933, as amended (the "Act") and
      applicable state securities laws. There are no contracts or other
      agreements relating to the issuance, sale, or transfer of Issued Stock,
      the Stock, the Additional Stock or any equity or other securities of the
      Company other than pursuant to the 1996 Stock Option/Stock Issuance Plan,
      as amended to date (the "1996 Stock Option/Stock Issuance Plan"), the 1999
      Stock Appreciation Rights Plan (the "1999 Stock Appreciation Rights
      Plan"), this Agreement, the Transaction Documents, the rights issued
      pursuant to the Rights Agreement, and as described in the SEC Documents.

                  (iv) The issuance, sale and delivery of the Stock in
      accordance with this Agreement have been duly authorized by all necessary
      corporate action, and all such shares have been duly reserved for
      issuance. The Stock, when so issued, sold and delivered against payment
      therefor in accordance with this Agreement will be duly authorized,
      validly issued, fully paid, nonassessable and free and clear of all
      encumbrances other than as set forth in the legends contained in Section 3
      of this Agreement.

                  (v) The execution, delivery and performance by the Company of
      this Agreement and the Transaction Documents have been duly authorized by
      all necessary corporate action. The board of directors of the Company, at
      a meeting thereof duly called and held, has duly adopted resolutions by
      the requisite majority vote approving this Agreement and the Transactions
      Documents, determining that the terms and conditions of this Agreement and
      the Transaction Documents are fair to and in the best interests of the
      Company and its stockholders. Such resolutions of the board of directors
      are sufficient to cause the provisions of Section 203 of the Delaware
      General Corporation Law to be inapplicable to this Agreement and the
      transactions contemplated hereby. To the Company's knowledge, no other
      fair price, moratorium, control share acquisition or other form of
      anti-takeover statute, rule or regulation of any state or jurisdiction
      applies or purports to apply to this Agreement or the transactions
      contemplated hereby. Assuming due authorization, execution and delivery of
      this Agreement by the Investor, this Agreement constitutes the legal,
      valid, and binding obligation of the Company, enforceable against the
      Company in accordance with its terms, subject to any applicable
      bankruptcy, insolvency, reorganization, moratorium or similar laws now or
      hereafter in effect relating to creditors' rights generally or to general
      principles of equity. Assuming due authorization, execution and delivery
      by the other parties thereto, each Transaction Document to which the
      Company is a party will, upon execution and delivery, constitute legal,
      valid and binding obligations of the Company, enforceable against the
      Company in accordance with their respective terms, subject to any
      applicable bankruptcy, insolvency, reorganization, moratorium or similar
      laws now or hereafter in effect relating to creditors' rights generally or
      to general principles of equity. The execution, delivery and performance
      of this Agreement and the Transaction Documents will not violate any law
      applicable to the Company and will not conflict with, result in any breach
      of any of the terms, conditions or provisions of, constitute a default
      under, or require a consent or waiver under the Company's Certificate of

                                       4
<PAGE>

      Incorporation or Bylaws (each as amended to date), except as set forth on
      the Disclosure Schedule, any material indenture, lease, agreement or other
      instrument to which the Company is a party or by which it or any of its
      properties is bound, or any decree, judgment, order, statute, rule or
      regulation applicable to the Company which would have a Company Material
      Adverse Effect.

                  (vi) The Company has furnished or made available to the
      Investor true and complete copies of all reports, definitive proxy
      materials and registration statements filed by it with the U.S. Securities
      and Exchange Commission (the "SEC") under the Securities Exchange Act of
      1934, as amended (the "Exchange Act") for all periods ending on or
      subsequent to December 31, 1998 and on or prior to the date hereof (all of
      the foregoing and any other reports, definitive proxy materials and
      registration statements filed by the Company with the SEC under the
      Exchange Act for all periods ending on or subsequent to the date hereof
      and on or prior to the First Closing being collectively referred to as the
      "SEC Documents"). The SEC Documents are all the documents (other than
      preliminary proxy materials) that the Company was required to file with
      the SEC since that date. As of their respective filing dates, the SEC
      Documents complied in all material respects with the requirements of the
      Exchange Act, and none of such SEC Documents contained any untrue
      statement of a material fact or omitted to state a material fact required
      to be stated therein or necessary to make the statements made therein, in
      light of the circumstances in which they were made, not misleading, except
      to the extent corrected by a subsequently filed document with the SEC. The
      financial statements of the Company, including the notes thereto, included
      in the SEC Documents (the "Company Financial Statements") comply as to
      form in all material respects with applicable accounting requirements and
      with the published rules and regulations of the SEC with respect thereto,
      have been prepared in accordance with United States generally accepted
      accounting principles consistently applied (except as may be indicated in
      the notes thereto) and present fairly the consolidated financial position
      of the Company at the dates thereof and of its operations and cash flows
      for the periods then ended (subject, in the case of unaudited statements,
      to normal audit adjustments, which individually or in the aggregate are
      not reasonably expected to have a Company Material Adverse Effect). There
      has been no change in the Company accounting policies except as described
      in the notes to the Company Financial Statements.

                  (vii) There is no action, suit or proceeding pending or, to
      the Company's knowledge, threatened that reasonably could be expected to
      have a Company Material Adverse Effect, or in any manner challenge,
      prevent, enjoin, alter or materially delay any of the transactions
      contemplated in this Agreement or the Transaction Documents.

                  (viii) The Company has no liabilities or obligations (whether
      absolute or contingent, liquidated or unliquidated, or due or to become
      due) of a character or amount required to be included in the Company
      Financial Statements in accordance with Generally Accepted Accounting
      Principles except for (a) liabilities and obligations reflected in the
      Company Financial Statements and (b) other liabilities and obligations
      which, individually or in the aggregate, would not have a Company Material
      Adverse Effect.

                                       5
<PAGE>

                  (ix) Except as set forth in the Disclosure Schedule, since
      December 31, 1999, there has not occurred any event, change, effect or
      development which, individually or in the aggregate, would have a Company
      Material Adverse Effect.

                  (x) Except for instances of noncompliance which, individually
      or in the aggregate, would not have a Company Material Adverse Effect, the
      Company is in compliance with each constitutional provision, law, rule,
      regulation, permit, order, writ, injunction, judgment and decree to which
      the Company is subject.

                  (xi) Except for the fees and expenses payable by the Company
      to Lazard Freres & Co. LLC, neither the Company nor any of its
      subsidiaries or affiliates has any liability or obligation to pay any fees
      or commissions to any financial advisor, broker or finder with respect to
      the transactions contemplated by this Agreement and the Transaction
      Documents.

                  (xii) The Company is not, and has not been, a United States
      real property holding corporation (as defined in Section 897(c)(2) of the
      United States Internal Revenue Code of 1986 as amended (the "Code"))
      during the applicable period specified in Section 897(c)(1)(A)(ii) of the
      Code.

            (b) In connection with the issuance of the Additional Stock, the
      Company represents to the Investor, subject to the exceptions,
      modifications, supplements and disclosures contained, in a supplement to
      the Disclosure Schedule, which will be delivered within ten days after the
      date that the Company receives written notice of the Investor's exercise
      of the Option (the "Option Exercise Date"), and which the Investor will
      have five business days to review and either accept and proceed to the
      Second Closing Date or reject and withdraw its exercise of the Option, as
      of the Option Exercise Date and as of the Second Closing Date, the
      following:

                  (i) The Company is a corporation duly organized, validly
      existing and in good standing under the laws of the State of Delaware and
      has full corporate power and authority to conduct its business as
      presently conducted and as proposed to be conducted by it and to carry out
      the transactions to be consummated hereby and thereby on the Second
      Closing Date. The Company is duly qualified to do business as a foreign
      corporation and is in good standing in the State of California and in any
      other jurisdiction in which either the ownership or use of the properties
      owned or used by it, or the nature of the activities conducted by it,
      requires such qualification, except for those jurisdictions in which the
      failure to so qualify would not have a Company Material Adverse Effect.

                  (ii) Each of the Company Subsidiaries is a corporation duly
      organized, validly existing and in good standing under the laws of its
      state of incorporation and has full corporate power and authority to
      conduct its business as presently conducted and as proposed to be
      conducted. Each Company Subsidiary is duly qualified to do business as a
      foreign corporation and is in good standing in each jurisdiction in which
      either the ownership or use of the properties owned or used by it, or the
      nature of the activities conducted by it, requires such qualification,
      except for those jurisdictions in which the failure to so qualify would
      not have a Company Material Adverse Effect.

                  (iii) Except as set forth in a supplement to the Disclosure
      Schedule, the authorized capital stock of the Company and the issued stock
      is as set forth in the

                                       6
<PAGE>

      Company's most recent quarterly report filed on Form 10-Q with the SEC
      before the Option Exercise Date. Such issued stock represents all of the
      issued and outstanding shares of capital stock of the Company and all
      shares of such issued stock have been duly authorized and validly issued
      and are fully paid and nonassessable. All of the shares of such issued
      stock and other securities of the Company have been offered, issued and
      sold by the Company in compliance in all material respects with the Act
      and applicable state securities laws. Other than pursuant to the 1996
      Stock Option/Stock Issuance Plan, the 1999 Stock Appreciation Rights Plan,
      this Agreement, the Transaction Documents, the Rights Agreement and as
      described in the SEC Documents, there are no contracts or other agreements
      relating to the issuance, sale, or transfer of such issued stock, the
      Stock, the Additional Stock or any equity or other securities of the
      Company.

                  (iv) The issuance, sale and delivery of the Additional Stock
      in accordance with this Agreement have been duly authorized by all
      necessary corporate action, and all such shares have been duly reserved
      for issuance. The Additional Stock, when so issued, sold and delivered
      against payment therefor in accordance with this Agreement will be duly
      authorized, validly issued, fully paid, nonassessable and free and clear
      of all encumbrances other than as set forth in the legends contained in
      Section 3 of this Agreement.

                  (v) The execution, delivery and performance by the Company of
      this Agreement and the Transaction Documents have been duly authorized by
      all necessary corporate action. The board of directors of the Company, at
      a meeting thereof duly called and held, has duly adopted resolutions by
      the requisite majority vote approving this Agreement and the Transactions
      Documents, determining that the terms and conditions of this Agreement and
      the Transaction Documents are fair to and in the best interests of the
      Company and its stockholders, and recommending that the Company's
      stockholders adopt and approve this Agreement and the Transaction
      Documents. Such resolutions of the board of directors are sufficient to
      cause the provisions of Section 203 of the Delaware General Corporation
      Law to be inapplicable to this Agreement and the transactions contemplated
      hereby. To the Company's knowledge, no other fair price, moratorium,
      control share acquisition or other form of anti-takeover statute, rule or
      regulation of any state or jurisdiction applies or purports to apply to
      this Agreement or the transactions contemplated hereby. Assuming due
      authorization, execution and delivery of this Agreement by the Investor,
      this Agreement constitutes the legal, valid, and binding obligation of the
      Company, enforceable against the Company in accordance with its terms,
      subject to any applicable bankruptcy, insolvency, reorganization,
      moratorium or similar laws now or hereafter in effect relating to
      creditors' rights generally or to general principles of equity. Assuming
      due authorization, execution and delivery by the other parties thereto,
      each Transaction Document to which the Company is a party will, upon
      execution and delivery, constitute legal, valid and binding obligations of
      the Company, enforceable against the Company in accordance with their
      respective terms, subject to any applicable bankruptcy, insolvency,
      reorganization, moratorium or similar laws now or hereafter in effect
      relating to creditors' rights generally or to general principles of
      equity. The execution, delivery and performance of this Agreement and the
      Transaction Documents will not violate any law applicable to the Company
      and will not conflict with, result in any breach of any of the terms,
      conditions or provisions of, constitute a default under, or require a
      consent or waiver under the Company's Certificate of Incorporation or
      Bylaws (each as amended to

                                       7
<PAGE>

      date), except as set forth on a supplement to the Disclosure Schedule, any
      material indenture, lease, agreement or other instrument to which the
      Company is a party or by which it or any of its properties is bound, or
      any decree, judgment, order, statute, rule or regulation applicable to the
      Company which would have a Company Material Adverse Effect.

                  (vi) The Company has furnished or made available to the
      Investor true and complete copies of all SEC Documents for all periods
      ending on or subsequent to December 31, 1998 and on or prior to the Option
      Exercise Date. Such SEC Documents are all the documents (other than
      preliminary proxy materials) that the Company was required to file with
      the SEC since that date. As of their respective filing dates, such SEC
      Documents complied in all material respects with the requirements of the
      Exchange Act, and none of such SEC Documents contained any untrue
      statement of a material fact or omitted to state a material fact required
      to be stated therein or necessary to make the statements made therein, in
      light of the circumstances in which they were made, not misleading, except
      to the extent corrected by a subsequently filed document with the SEC. The
      Company Financial Statements (defined for this section 4(b) to include
      those filed in such SEC Documents) comply as to form in all material
      respects with applicable accounting requirements and with the published
      rules and regulations of the SEC with respect thereto, have been prepared
      in accordance with United States generally accepted accounting principles
      consistently applied (except as may be indicated in the notes thereto) and
      present fairly the consolidated financial position of the Company at the
      dates thereof and of its operations and cash flows for the periods then
      ended (subject, in the case of unaudited statements, to normal audit
      adjustments, which individually or in the aggregate are not reasonably
      expected to have a Company Material Adverse Effect). There has been no
      change in the Company accounting policies except as described in the notes
      to the Company Financial Statements.

                  (vii) There is no action, suit or proceeding pending or, to
      the Company's knowledge, threatened that reasonably could be expected to
      have a Company Material Adverse Effect, or in any manner challenge,
      prevent, enjoin, alter or materially delay any of the transactions
      contemplated in this Agreement or the Transaction Documents.

                  (viii) The Company has no liabilities or obligations (whether
      absolute or contingent, liquidated or unliquidated, or due or to become
      due) of a character or amount required to be included in the Company
      Financial Statements in accordance with Generally Accepted Accounting
      Principles except for (i) liabilities and obligations reflected in the
      Company Financial Statements and (ii) other liabilities and obligations
      which, individually or in the aggregate, would not have a Company Material
      Adverse Effect.

                  (ix) Since the most recent Company Financial Statement prior
      to the Option Exercise Date, there has not occurred any event, change,
      effect or development which, individually or in the aggregate, would have
      a Company Material Adverse Effect.

                  (x) Except for instances of noncompliance which, individually
      or in the aggregate, would not have a Company Material Adverse Effect, the
      Company is in compliance with each constitutional provision, law, rule,
      regulation, permit, order, writ, injunction, judgment and decree to which
      the Company is subject.

                                       8
<PAGE>

                  (xi) Except for the fees and expenses payable by the Company
      to Lazard Freres & Co. LLC, neither the Company nor any of its
      subsidiaries or affiliates has any liability or obligation to pay any fees
      or commissions to any financial advisor, broker or finder with respect to
      the transactions contemplated by this Agreement and the Transaction
      Documents.

                  (xii) The Company is not, and has not been, a United States
      real property holding corporation (as defined in Section 897(c)(2) of the
      United States Internal Revenue Code of 1986 as amended (the "Code"))
      during the applicable period specified in Section 897(c)(1)(A)(ii) of the
      Code.

      5. Representations. In connection with the purchase of the Stock and the
Additional Stock, the Investor represents to the Company as of the date hereof
and as of each of the First Closing Date as to the Stock and the Second Closing
Date as to the Additional Stock, the following:

            (a) The Investor is a limited liability company duly organized,
      validly existing and in good standing under the laws of the State of
      Delaware and has full company power and authority to conduct its business
      as presently conducted and as proposed to be conducted, and to enter into
      and perform this Agreement and the Transaction Documents and to carry out
      the transactions contemplated hereby and thereby. The Investor is not
      owned or controlled by a non-United States government or governmental
      entity.

            (b) The execution, delivery and performance by the Investor of this
      Agreement and the Transaction Documents have been duly authorized by all
      necessary action. Assuming due authorization, execution and delivery of
      this Agreement by the Company, this Agreement constitutes the legal,
      valid, and binding obligation of the Investor, enforceable against the
      Investor in accordance with its terms, subject to any applicable
      bankruptcy, insolvency, reorganization, moratorium or similar laws now or
      hereafter in effect relating to creditors' rights generally or to general
      principles of equity. Assuming due authorization, execution and delivery
      by the other parties thereto, each Transaction Document to which the
      Investor is a party will, upon execution and delivery, constitute legal,
      valid, and binding obligations of the Investor, enforceable against the
      Investor in accordance with their respective terms, subject to any
      applicable bankruptcy, insolvency, reorganization, moratorium or similar
      laws now or hereafter in effect relating to creditors' rights generally or
      to general principles of equity.

            (c) The execution, delivery and performance of this Agreement and
      the Transaction Documents will not violate any law applicable to the
      Investor and will not conflict with, result in any breach of any of the
      terms, conditions or provisions of, constitute a default under, or require
      a consent or waiver under the Investor's organizational documents, any
      material indenture, lease, agreement or other instrument to which the
      Investor is a party or by which either they or any of their properties is
      bound, or any decree, judgment, order, statute, rule or regulation
      applicable to the Investor which would have a material adverse effect on
      the business, properties, financial condition, operations or results of
      operations of the Investor (a "Investor Material Adverse Effect").

            (d) Except for the fees and expenses payable by the Investor or its
      affiliates to PricewaterhouseCoopers, neither the Investor nor any of its
      subsidiaries or

                                       9
<PAGE>

      affiliates has any liability or obligation to pay any fees or commissions
      to any financial advisor, broker or finder with respect to the
      transactions contemplated by this Agreement and the Transaction Documents.

            (e) There is no action, suit or proceeding pending or, to the
      Investor's knowledge, threatened that reasonably could be expected to have
      an Investor Material Adverse Effect or in any manner challenge prevent,
      enjoin, alter or materially delay any of the transactions contemplated in
      this Agreement or the Transaction Documents.

      6. Investment Representations.

            (a) In connection with the purchase of the Stock and the Additional
      Stock (collectively referred to as the "Stock" for purposes of Sections 6
      (a) and 6 (b)), the Investor represents to the Company the following:

                  (i) The Investor is aware of the Company's business affairs
      and financial condition and has acquired sufficient information about the
      Company to reach an informed and knowledgeable decision to acquire the
      Stock. The Investor is purchasing the Stock for investment for the
      Investor's own account only and not with a view to, or for resale in
      connection with, any "distribution" thereof within the meaning of the Act.

                  (ii) The Investor understands that the Stock has not been
      registered under the Act by reason of a specific exemption therefrom,
      which exemption depends upon, among other things, the bona fide nature of
      the Investor's investment intent as expressed herein.

                  (iii) The Investor further acknowledges and understands that
      the Stock must be held indefinitely unless the Stock is subsequently
      registered under the Act or an exemption from such registration is
      available. The Investor further acknowledges and understands that, except
      as provided in Section 9 hereof, the Company is under no obligation to
      register the Stock. The Investor understands that the certificate
      evidencing the Stock will be imprinted with a legend which prohibits the
      sale of the Stock unless the Stock is registered or such registration is
      not required in the opinion of counsel for the Company.

                  (iv) The Investor is familiar with the provisions of Rule 144,
      under the Act which, in substance, permit limited public resale of
      "restricted securities" acquired, directly or indirectly, from the issuer
      thereof (or from an affiliate of such issuer) in a non-public offering,
      subject to the satisfaction of certain conditions. The Stock may be resold
      by the Investor in certain limited circumstances subject to the provisions
      of Rule 144, which requires, among other things: (i) the availability of
      certain public information about the Company and (ii) that the resale
      occur following the required holding period under Rule 144 and after the
      Investor has purchased, and made full payment of (within the meaning of
      Rule 144), the securities to be sold.

                  (v) The Investor further understands that at the time the
      Investor wishes to sell the Stock there may be no public market upon which
      to make such a sale, and that, even if such a public market then exists,
      the Company may not be satisfying the current public information
      requirements of Rule 144 (even though the Company is required to do so by
      law), and that, in such event, the Investor would be

                                       10
<PAGE>

      precluded from selling the Stock under Rule 144 even if the minimum
      holding period requirement had been satisfied.

                  (vi) The Investor has either (i) a preexisting business
      relationship with either the Company or any of its officers, directors or
      controlling persons, or (ii) the capacity to protect its own interests in
      connection with the purchase of the Stock by virtue of its or its
      professional advisors'(who are unaffiliated with and who are not directly
      or indirectly compensated by the Company or any of its affiliates)
      financial expertise.

                  (vii) Except for filings required by the Hart-Scott-Rodino
      Antitrust Improvements Act of 1976, competition act filings in various
      other countries and the filing of a Form D under the Securities Act of
      1933, as amended, (the "Act") the purchase of the Stock by the Investor is
      permitted by the laws of Switzerland, the European Union and the United
      States, and the purchase and sale of the Stock does not require the filing
      of any notice, permit, registration or qualification with any governmental
      entity of any of Switzerland, the European Union or the United States.

                  (viii) The Investor is an "accredited investor" as that term
      is defined in Rule 501 of Regulation D of the Act.

                  (ix) Flightlease, SRT Group America and SRT or a SAirGroup
      Affiliate are the only beneficial owners of the Investor.

            (b) In connection with the purchase of the Stock and the Additional
      Stock, Flightlease, SRT Group America, SRT and any SAirGroup Affiliate
      which is a member of the Investor (each, a "Member") represent to the
      Company the following:

                  (i) Such Member has either (i) a preexisting business
      relationship with either the Company or any of its officers, directors or
      controlling persons, or (ii) the capacity to protect its own interests in
      connection with the purchase of the Stock by virtue of its financial
      expertise.

                  (ii) Except for filings required by the Hart-Scott-Rodino
      Antitrust Improvements Act of 1976, competition act filings in various
      other countries and the filing of a Form D under the Act, the purchase of
      the Stock by the Investor is permitted by the laws of Switzerland, the
      European Union and the United States and the purchase and sale of the
      Stock does not require the filing of any notice, permit, registration or
      qualification with any governmental entity of any of Switzerland, the
      European Union or the United States.

                  (iii) Such Member is an "accredited investor" as that term is
      defined in Rule 501 of Regulation D of the Act.

                  (iv) Flightlease, SRT Group America, SRT or a SAirGroup
      Affiliate are the only beneficial owners of the Investor.

      7. Condition to Closing.

            (a) The respective obligations of each party to perform under this
      Agreement will be subject to the satisfaction at or prior to the First
      Closing of the following conditions:

                                       11
<PAGE>

                  (i) No temporary restraining order, preliminary or permanent
      injunction or other order issued by any court of competent jurisdiction or
      other legal or regulatory restraint or prohibition preventing the issuance
      and sale of the Stock will be in effect. There is no proceeding pending,
      or as to which the Company or the Investor has received any notice of
      assertion against any of them, that in any manner challenges, seeks, or
      reasonably could be expected to prevent, enjoin, alter or materially delay
      any of the transactions contemplated by this Agreement or the Transaction
      Documents.

                  (ii) All government and third party approvals for the issuance
      and sale of the Stock and the execution, delivery and performance of this
      Agreement and the Transaction Documents will have been received.

                  (iii) The following documents (the "Transaction Documents")
      will have been executed:

                        (A) The Share Purchase Agreement among SRT, SRT Group
      America and the Company whereby SRT Group America agrees to purchase 100%
      of the capital stock of Willis Aeronautical Services, Inc.;

                        (B) The Member Interest Purchase Agreement among SRT,
      SRT Group America and the Company whereby SRT Group America agrees to
      purchase from the Company the Company's 50% interest in Pacific Gas
      Turbine Center, LLC;

                        (C) The Stockholders' Agreement among the Company, the
      Investor, Charles F. Willis, IV, Austin Chandler Willis 1995 Irrevocable
      Trust and CFW Partners, L.P. (and the Irrevocable Proxy related thereto);

                        (D) The Aircraft Engine Purchase Agreement relating to
      five aircraft engines between the Company and SR Technics Group AG;

                        (E) The Employment Agreement between the Company and
      Charles F. Willis, IV;

                        (F) The Amendment to the Operating Agreement of Pacific
      Gas Turbine Center, LLC;

                        (G) The Cooperation Agreement among the Company,
      Flightlease and SRT;

                        (H) The Transition Services Agreement between the
      Company and Willis Aeronautical Services, Inc.; and

                        (I) The First Amendment to Rights Agreement between the
      Company and American Stock Transfer & Trust Company; and

                  (iv) All of each party's representations and warranties in
      this Agreement (considered both individually and collectively) must have
      been accurate in all respects as of the date of this Agreement (except to
      the extent that the aggregate of all breaches thereof would not have a
      Company Material Adverse Effect or an Investor Material Adverse Effect)
      and must be accurate in all material respects as of

                                       12
<PAGE>

      the First Closing Date as if then made (except to the extent such
      representations specifically relate to an earlier date, in which case such
      representations will be true and correct as of such earlier date, and in
      any event, subject to the foregoing Company Material Adverse Effect or an
      Investor Material Adverse Effect qualification, as applicable) without
      giving effect to any supplement to the Disclosure Schedule, except for any
      supplements to the Disclosure Schedule relating to facts or events
      occurring after the date of this Agreement.

                  (v) Between the date hereof and the First Closing, nothing
      shall have occurred (and the Investor shall not become aware of facts or
      conditions not previously known) which will have either a Company Material
      Adverse Effect or an Investor Material Adverse Effect.

                  (vi) Expiration or early termination of the waiting period
      required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

                  (vii) Election of Hans Jorg Hunziker as a director of the
      Company.

            (b) The obligation of the Company to issue and sell the Additional
      Stock to the Investor and the obligation of the Investor to purchase the
      Additional Stock shall be subject to the satisfaction at or prior to the
      Second Closing of the following conditions:

                  (i) No temporary restraining order, preliminary or permanent
      injunction or other order issued by any court of competent jurisdiction or
      other legal or regulatory restraint or prohibition preventing the issuance
      and sale of the Additional Stock shall be in effect. There shall be no
      proceeding pending, or as to which the Company or the Investor has
      received any notice of assertion against any of them that in any manner
      challenges, seeks, or reasonably could be expected to prevent, enjoin,
      alter or materially delay the issuance and sale of the Additional Stock.

                  (ii) Either (a) the Company receives a written determination
      from the National Association of Securities Dealers (the "NASD") and the
      NASDAQ Stock Market that the issuance and sale of the Additional Stock to
      the Investor does not require the Company to obtain approval from its
      stockholders or (b) the issuance and sale of the Stock to the Investor
      shall have been approved by the stockholders of the Company.

                  (iii) All government and third party approvals for the
      issuance and sale of the Additional Stock will have been received.

                  (iv) All of each party's representations and warranties in
      this Agreement (considered both individually and collectively) must have
      been accurate in all respects as of the date of the Option Exercise Date
      (except to the extent that the aggregate of all breaches thereof would not
      have a Company Material Adverse Effect or an Investor Material Adverse
      Effect), without giving effect to any supplement to the Disclosure
      Schedule, except for any supplements to the Disclosure Schedule relating
      to facts or events occurring between the First Closing Date and the Option
      Exercise which the Company will deliver to the Investor within ten
      business days after the Option Exercise Date, and which the Investor will
      have five business days to

                                       13
<PAGE>

      review and either accept and proceed to the Second Closing Date or reject
      and withdraw its exercise of the Option.

                  (v) Between the date of the Option Exercise Date and the
      Second Closing, nothing shall have occurred (and the Investor shall not
      become aware of facts or conditions not previously known) which will have
      either a Company Material Adverse Effect or an Investor Material Adverse
      Effect.

                  (vi) Expiration or early termination of the waiting period
      required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

                  (vii) All of the Company's aircraft that are registered with
      the Federal Aviation Administration (the "FAA") will have been transferred
      to an owner trust facility or other vehicle which will be in compliance
      with FAA regulations.

      8. Covenants of the Parties.

            (a) Company Actions. The Company will undertake the following:

                  (i) NASD Determination. The Company will make an inquiry as
      promptly as practicable to the NASD and the NASDAQ Stock Market as to
      whether the issuance and sale of the Additional Stock to the Investor will
      require the approval of the Company's stockholders.

                  (ii) Stockholders Meeting. If required by the NASD and the
      NASDAQ Stock Market in connection with the issuance and sale of the
      Additional Stock to the Investor, the Company will duly call, give notice
      of, convene and hold a special meeting of its stockholders (the "Special
      Stockholders Meeting") as soon as reasonably practicable after the First
      Closing Date for the purpose of submitting the issuance of the Additional
      Stock for approval by the holders of a majority of the Issued Stock.

                  (iii) Cooperation. If required by the NASD and the NASDAQ
      Stock Market in connection with the issuance and sale of the Additional
      Stock to the Investor, the Company will prepare and file with the SEC as
      promptly as reasonably practicable after the First Closing a proxy
      statement and related materials (the "Special Proxy Statement") with
      respect to the Special Stockholders Meeting, which Special Proxy Statement
      will satisfy the requirements of the Act and the Exchange Act. The Company
      will respond reasonably promptly to any comments raised by the SEC with
      respect to the Special Proxy Statement, as the case may be, and cause the
      definitive version of the Special Proxy Statement to be mailed to its
      stockholders as soon as reasonably practicable after it is legally
      permitted to do so. Before filing the Special Proxy Statement, the Company
      will provide counsel to the Investor with an adequate and appropriate
      opportunity to participate in the preparation of either the Special Proxy
      Statement which document will be subject to the review and consent of
      counsel to the Investor, which consent may not be unreasonably withheld.
      The Special Proxy Statement will comply in all material respects with the
      applicable requirements of the Exchange Act and will not, at the time the
      Special Proxy Statement is filed with the SEC and mailed to stockholders
      of the Company, contain any untrue statement of a material fact or omit to
      state any material fact required to be stated therein or necessary in
      order to make the statements therein, in light of the circumstances under
      which they were made, not misleading. Except for information

                                       14
<PAGE>

      supplied by the Investor that is identified in a letter agreed to between
      the Investor and the Company, all information included in the Special
      Proxy Statement will be deemed to have been supplied by the Company.

                  (iv) Board Recommendation. The Company will include in the
      Special Proxy Statement the recommendation of the board of directors of
      the Company that the stockholders of the Company vote in favor of the
      approval of the issuance of the Additional Stock, unless the board of
      directors of the Company determines after consulting with counsel that its
      continued approval and recommendation of the issuance and sale of the
      Additional Stock will violate the directors' fiduciary duties to the
      Company's stockholders.

            (b) Access and Investigation. Between the date of this Agreement and
      the First Closing and between the date of the Option Exercise Date and the
      Second Closing Date, upon reasonable advance notice from the Investor, the
      Company will, and will cause its representatives to (i) afford the
      Investor and its representatives, reasonable access to the Company's
      personnel, properties (including subsurface testing), contracts, books and
      records, and other documents and data and (ii) furnish the Investor and
      its representatives with such additional financial, operating, and other
      data and information as the Investor may reasonably request.

            (c) Operation of Business. Between the date of this Agreement and
      the First Closing and between the date of the Option Exercise Date and the
      Second Closing Date, the Company (i) will conduct, and will cause its
      subsidiaries to conduct, their business consistent with past practice and
      (ii) will not enter into any agreement (with the exception of grants of
      stock pursuant to the 1996 Stock Option/Stock Issuance Plan) to issue
      either new shares of its stock or warrants to purchase its stock.

            (d) Notification by the Company. The Company will promptly notify
      the Investor in writing if, between the date of this Agreement and the
      First Closing or between the date of the Option Exercise Date and the
      Second Closing, the Company becomes aware of: (i) any fact or condition
      that causes or constitutes a breach of any of the Company's
      representations and warranties as of the date of this Agreement, or (ii)
      the occurrence after the date of this Agreement of any fact or condition
      that would (except as expressly contemplated by this Agreement) cause or
      constitute a breach of any such representation or warranty had that
      representation or warranty been made at the time of the occurrence of such
      fact or condition. Should any such fact or condition require any change in
      the Disclosure Schedule, the Company will promptly deliver to the Investor
      a supplement to the Disclosure Schedule specifying such change. During the
      same period, the Company will promptly notify the Investor of the
      occurrence of any breach of any covenant of the Company in this Section 8
      or of the occurrence of any event that may make the satisfaction of the
      conditions in Section 7 impossible or unlikely.

            (e) Notification by the Investor, Flightlease, SRT, SRT Group
      America and any other Member. The Investor, Flightlease, SRT, SRT Group
      America and any other Member will promptly notify the Company in writing
      if, between the date of this Agreement and the First Closing or between
      the date of the Option Exercise Date and the Second Closing, either the
      Investor, Flightlease, SRT, SRT Group America and any other Member becomes
      aware of: (i) any fact or condition that causes or constitutes a breach of
      any of the Investor's, Flightlease's, SRT's, SRT Group America's and any
      other Member's representations and warranties

                                       15
<PAGE>

      as of the date of this Agreement, or (ii) the occurrence after the date of
      this Agreement of any fact or condition that would (except as expressly
      contemplated by this Agreement) cause or constitute a breach of any such
      representation or warranty had that representation or warranty been made
      at the time of the occurrence of such fact or condition. During the same
      period, each of the Investor, Flightlease, SRT, SRT Group America and any
      other Member will promptly notify the Company of the occurrence of any
      breach of any covenant of the Company in this Section 8 or of the
      occurrence of any event that may make the satisfaction of the conditions
      in Section 7 impossible or unlikely.

            (f) Changes to the Certificate of Incorporation or By-Laws. Between
      the date of this Agreement and the First Closing, the Company will not
      recommend any changes or amendments to its Certificate of Incorporation or
      its By-Laws, except as provided for in this Agreement or in the
      Transaction Documents.

            (g) Reasonable Commercial Efforts. Both the Company and the Investor
      will have used reasonable commercial efforts to satisfy the conditions in
      Section 7.

      9. Registration Rights.

            (a) Definitions. For purposes of this Section 9:

                  (i) Registration. The terms "register," "registered," and
      "registration" refer to a registration effected by preparing and filing a
      registration statement in compliance with the Act, and the declaration or
      ordering of effectiveness of such registration statement.

                  (ii) Registrable Securities. The term "Registrable Securities"
      means: (1) the Stock and the Additional Stock issued under this Agreement,
      (2) any shares of common stock of the Company issued as a dividend or
      other distribution with respect to, or in exchange for or in replacement
      of, any shares of Stock described in clause (1) of this subsection (ii)
      and (3) any other common stock of the Company hereafter acquired by the
      Investor, and will be appropriately adjusted for any stock dividends,
      splits, reverse splits, combinations, recapitalizations and the like
      occurring after the date hereof. Notwithstanding the foregoing,
      "Registrable Securities" will exclude any Registrable Securities sold in a
      transaction in which rights under this Section 9 are not assigned in
      accordance with this Agreement or any Registrable Securities sold in a
      public offering, whether sold pursuant to Rule 144 promulgated under the
      Act, or in a registered offering, or otherwise

                  (iii) Holder. For purposes of this Section 9, the term
      "Holder" means either (A) the Investor or (B) the Investor's assignee of
      greater than 50 % of the Registrable Securities (the "Registration Rights
      Assignee"), so long as the Investor or the Registration Rights Assignee,
      as applicable, is the owner of record of Registrable Securities.

            (b) Demand Registration.

                  (i) Request by Holder. If the Company will at any time after
      the end of the Exclusivity Period (as defined in the Stockholders'
      Agreement) receive a written request from the Holder that the Company file
      a registration statement under

                                       16
<PAGE>

      the Act covering the registration of Registrable Securities pursuant to
      this Section 9(b), then the Company will use reasonable commercial efforts
      to effect, within ninety (90) days of such request, the registration under
      the Act of all Registrable Securities that Holder requests to be
      registered and included in such registration by written request given by
      Holder to the Company, subject only to the limitations of this Section 9.

                  (ii) Underwriting. Registrable Securities covered by this
      demand registration will be distributed only by means of a firm commitment
      offering underwritten by a managing underwriter or underwriters selected
      by Holder and reasonably acceptable to the Company, provided that the
      managing underwriter or underwriters must agree that no shares of
      Registrable Securities will be sold to any purchaser in the underwriting
      if after such purchase, such purchaser will own five percent (5%) or more
      of the issued and outstanding common stock of the Company. The right of
      Holder to include its Registrable Securities in such registration will be
      conditioned upon Holder's participation in such underwriting and the
      inclusion of Holder's Registrable Securities in the underwriting to the
      extent provided herein. Holder will enter into an underwriting agreement
      in customary form with the managing underwriter or underwriters (including
      a market stand-off agreement of up to 180 days if required by such
      underwriters).

                  (iii) Maximum Number of Demand Registrations. The Company will
      be obligated to effect no more than two (2) such registration pursuant to
      this Section 9(b), provided that the Company will be relieved of its
      obligations to effect any registration if at any time Holder will own less
      than five percent (5%) of the issued and outstanding capital stock of the
      Company. A registration request as provided in Section 9(b) will not count
      as one of the demands to which Holder is entitled hereunder unless the
      registration statement remains continuously effective until the earlier of
      (i) the completion of any offering and disposition of all Registrable
      Securities included in the registration statement and (ii) the expiration
      of ninety (90) days from the date on which the registration statement
      first became effective under the Act.

                  (iv) Deferral. Notwithstanding the foregoing, if the Company
      will furnish to the Holder a certificate signed by the President or Chief
      Executive Officer of the Company stating that in the good faith judgment
      of the board of directors, it would be materially detrimental to the
      Company and its stockholders for such registration statement to be filed
      (other than any detriment caused by the sale of Stock pursuant to such
      registration statement), then the Company will have the right to defer
      such filing for a period of not more than sixty (60) days after receipt of
      the request of the Holder.

                                       17
<PAGE>

                  (v) Expenses. All fees, costs and expenses incurred in
      connection with any registration pursuant to this Section 9, including all
      federal and "Blue Sky" registration, filing and qualification fees and
      expenses, printer's fees and expenses, accounting fees (including in
      connection with the delivery of any "comfort letter"), fees and
      disbursements of counsel for the Company (including in connection with the
      delivery of any required legal opinion), and all fees, costs and expenses
      incurred in connection with the performance of the Company's obligations
      contained in this Section 9 will be borne by the Holder and the Holder
      agrees to pay and reimburse any costs, fees and expenses incurred by the
      Company within three days of the presentation of an invoice therefor.

                  (vi) Qualification. The Company will not be required to effect
      a registration in any particular jurisdiction in which the Company would
      be required to qualify to do business where it is not then so qualified or
      to execute a general consent to service of process in effecting such
      registration, qualification or compliance in any jurisdiction where it is
      not then so subject to service of process.

            (c) Obligations of the Company. Whenever required to effect the
      registration of Registrable Securities under this Agreement the Company
      will, as expeditiously as reasonably possible:

                  (i) Registration Statement. Prepare and file with the SEC
      within thirty (30) days of a request by Holder under Section 9(b) a
      registration statement on the shortest available form for which the
      Company then qualifies with respect to such Registrable Securities and use
      reasonable commercial efforts to cause such registration statement to
      become effective within ninety (90) days of a request by Holder under
      Section 9(b) and to remain continuously effective until the earlier of (i)
      the completion of any offering and disposition of all Registrable
      Securities included in the registration statement and (ii) the expiration
      of ninety (90) days from the date on which the registration statement
      first became effective under the Act; provided, however, that before
      filing a registration statement or prospectus or any amendment or
      supplement to either of them, the Company will (A) provide counsel to
      Holder with an adequate and appropriate opportunity to participate in the
      preparation of the registration statement and each prospectus included in
      the registration statement (and each amendment or supplement to it) to be
      filed with the SEC, which documents will be subject to the review of
      counsel to Holder and (B) notify counsel to Holder and Holder of any stop
      order issued or threatened by the SEC and to take all commercially
      reasonable action required to prevent the entry of the stop order or to
      remove it if entered. With respect to any registration under Section 9(b),
      the Company will not permit any securities other than the Registrable
      Securities to be included in the registration statement if such inclusion
      would cause any of the Registrable Securities to be excluded from the
      registration by the managing underwriter or underwriters..

                  (ii) Amendments and Supplements. Prepare and file with the SEC
      such amendments and supplements to such registration statement and the
      prospectus used in connection with such registration statement as may be
      necessary to comply with the provisions of the Act with respect to the
      disposition of all securities covered by such registration statement.

                  (iii) Prospectuses. As soon as reasonably commercially
      practical, furnish to the Holder such number of copies of a prospectus,
      including a preliminary

                                       18
<PAGE>

      prospectus, in conformity with the requirements of the Act, and such other
      documents as they may reasonably request in order to facilitate the
      disposition of the Registrable Securities owned by them that are included
      in such registration.

                  (iv) Blue Sky. Use its best efforts to register and qualify
      the securities covered by such registration statement under such other
      securities or "Blue Sky" laws of such jurisdictions as will be reasonably
      requested by the Holder, provided that the Company will not be required in
      connection therewith or as a condition thereto to qualify to do business
      in any jurisdiction where it is not then so qualified or to file a general
      consent to service of process in any such states or jurisdictions where it
      is not then so subject to service of process.

                  (v) Other Approvals. Use its commercially reasonable efforts
      to obtain all other approvals, consents, exemptions or authorizations from
      those governmental agencies or authorities at Holder's sole cost and
      expense as may be necessary to enable Holder to effect the disposition of
      any Registrable Securities.

                  (vi) Underwriting. Enter into and perform its obligations
      under an underwriting agreement in usual and customary form, with the
      managing underwriter(s) of such offering. Each Holder participating in
      such underwriting will also enter into and perform its obligations under
      such an agreement.

                  (vii) Notification. Notify each Holder of Registrable
      Securities covered by such registration statement at any time when a
      prospectus relating thereto is required to be delivered under the Act of
      the happening of any event as a result of which the prospectus included in
      such registration statement, as then in effect, includes an untrue
      statement of a material fact or omits to state a material fact required to
      be stated therein or necessary to make the statements therein not
      misleading in the light of the circumstances then existing and prepare and
      file with the SEC a supplement or amendment to the registration statement
      or prospectus so that, as subsequently delivered to the purchasers of the
      Registrable Securities, the registration statement or prospectus will not
      contain an untrue statement of material fact or omit to state any material
      fact required to be stated in the registration statement or necessary to
      make the statements therein not misleading in light of the circumstances
      under which they were made; provided, that prior to the filing of the
      supplement or amendment, the Company will furnish copies of the supplement
      or amendment to the Holder, any underwriter and counsel to Holder and will
      not file the supplement or amendment without the prior review of counsel
      to Holder.

                  (viii) Inspection of Records. Make available for inspection by
      each Holder of Registrable Securities, any managing underwriter
      participating in any disposition provided for in the registration
      statement, counsel to Holder and any attorney, accountant or other
      appraiser retained by any Holder or any managing underwriter (each, an
      "Inspector"), all financial and other records, pertinent corporate
      documents and properties of the Company and any of its subsidiaries as may
      be in existence at that time as will be reasonably necessary to enable
      them to exercise their due diligence responsibility, and cause the
      Company's and any subsidiaries' officers, directors and employees, and the
      independent certified public accountants of the Company, to supply all
      information reasonably requested by any Inspector in connection with the
      registration statement.

                                       19
<PAGE>

                  (ix) Opinion, Comfort Letter and Closing Certificates.
      Furnish, at the request of any Holder of Registrable Securities, on the
      date that such Registrable Securities are delivered to the underwriters
      for sale, (i) an opinion, dated as of such date, of the counsel
      representing the Company for the purposes of such registration, in form
      and substance as is customarily given to underwriters in an underwritten
      public offering and reasonably satisfactory to the Holder, addressed to
      the underwriters and to the Holder, (ii) a "comfort" letter dated as of
      such date, from the independent certified public accountants of the
      Company, in form and substance as is customarily given by independent
      certified public accountants to underwriters in an underwritten public
      offering and reasonably satisfactory to the Holder, addressed to the
      underwriters and to the Holder, and (iii) officers' certificates and such
      other customary closing documents.

                  (x) Listing on Securities Exchange. Use commercially
      reasonable efforts to cause all Registrable Securities to be listed on
      each securities exchange on which similar securities issued by the Company
      are then listed, subject to the satisfaction of the applicable listing
      requirements of the exchange.

                  (xi) Cooperation. Reasonably cooperate with any Holder of
      Registrable Securities and each underwriter participating in the
      disposition of any Registrable Securities and their respective counsel in
      connection with any filings required to be made with any securities
      exchange or automated quotation system.

            (d) Restrictions on Public Sale by the Company. The Company agrees
      not to effect any public sale or distribution of any of its securities for
      its own account (except pursuant to registrations on Form S-4 or Form S-8
      (or any successor form) under the Act) during the ten (10) business days
      prior to, and during the ninety (90) day period (or such shorter period as
      will be permitted by the managing underwriter or underwriters) beginning
      on the effective date of any registration statement in which Holder is
      participating under Section 9(b).

            (e) Furnish Information. It will be a condition precedent to the
      obligations of the Company to take any action pursuant to Section 9(b) or
      (c) that the Holder will furnish to the Company such information regarding
      itself, the Registrable Securities, and the intended method of disposition
      of such securities as will be required to timely effect the Registration
      of its Registrable Securities.

            (f) Indemnification. In the event any Registrable Securities are
      included in a registration statement under the Agreement:

                  (i) By the Company. To the extent permitted by law, the
      Company will indemnify and hold harmless Holder, the partners, members,
      officers, directors and employees of Holder, any underwriter (as
      determined in the Act) for Holder and each person, if any, who controls
      Holder or any such underwriter within the meaning of the Act or the
      Exchange Act, against any losses, claims, damages, or liabilities (joint
      or several) to which they may become subject under the Act, the Exchange
      Act or other federal or state law, insofar as such losses, claims,
      damages, or liabilities (or actions in respect thereof) arise out of or
      are based upon any of the following statements, omissions or violations
      (collectively a "Violation"):

                        (A) any untrue statement or alleged untrue statement of
      a material fact contained in such registration statement, including any
      preliminary

                                       20
<PAGE>

      prospectus or final prospectus contained therein or any amendments or
      supplements thereto;

                        (B) the omission or alleged omission to state therein a
      material fact required to be stated therein, or necessary to make the
      statements therein not misleading; or

                        (C) any violation or alleged violation by the Company of
      the Act, the Exchange Act, any state or international securities law or
      any rule or regulation promulgated under the Act, the Exchange Act or any
      state or Swiss or European Union securities law in connection with the
      offering covered by such registration statement;

                  and the Company will reimburse each such Holder, partner,
      officer, director, employee underwriter or controlling person for any
      legal or other expenses reasonably incurred by them, as incurred, in
      connection with investigating or defending any such loss, claim, damage,
      liability or action; provided, however, that the indemnity agreement
      contained in this Section 9(f) will not apply to amounts paid in
      settlement of any such loss, claim, damage, liability or action if such
      settlement is effected without the consent of the Company, nor will the
      Company be liable in any such case for any such loss, claim, damage,
      liability or action to the extent that it arises out of or is based upon a
      Violation which occurs in reliance upon and in conformity with written
      information furnished expressly for use in connection with such
      registration by such Holder, partner, officer, director, underwriter or
      controlling person of Holder.

                  (ii) By Holder. In connection with any registration under
      which Holder intends to make a disposition of Registrable Securities, to
      the extent permitted by law, Holder will indemnify and hold harmless the
      Company, each of its directors, each of its officers or employees who have
      signed the registration statement, each person, if any, who controls the
      Company within the meaning of the Act, any underwriter any person who
      controls the Company or any such underwriter within the meaning of the Act
      or the Exchange Act, against any losses, claims, damages or liabilities
      (joint or several) to which the Company or any such director, officer,
      employee, controlling person, or underwriter may become subject under the
      Act, the Exchange Act or other Swiss, European Union, federal or state
      law, insofar as such losses, claims, damages or liabilities (or actions in
      respect thereto) arise out of or are based upon any Violation, in each
      case to the extent (and only to the extent) that such Violation occurs in
      reliance upon and in conformity with written information furnished by
      Holder expressly for use in connection with such registration; and each
      Holder will reimburse any legal or other expenses reasonably incurred by
      the Company or any such director, officer, controlling person, underwriter
      in connection with investigating or defending any such loss, claim,
      damage, liability or action: provided, however, that the indemnity
      agreement contained in this Section 9(f) will not apply to amounts paid in
      settlement of any such loss, claim, damage, liability or action if such
      settlement is effected without the consent of the Holder and provided
      further that the liability of Holder under this Section 9(f) will be
      limited to the amount of the net proceeds received by Holder in the
      offering giving rise to such liability.

                  (iii) Notice. Promptly after receipt by an indemnified party
      under this Section 9(f) of notice of the commencement of any action
      (including any governmental action), such indemnified party will, if a
      claim in respect thereof is to be

                                       21
<PAGE>

      made against any indemnifying party under this Section 9(f), deliver to
      the indemnifying party a written notice of the commencement thereof and
      the indemnifying party will have the right to participate in, and, to the
      extent the indemnifying party so desires, jointly with any other
      indemnifying party similarly noticed, to assume the defense thereof with
      counsel mutually satisfactory to the parties; provided, however, that an
      indemnified party will have the right to retain its own counsel, with the
      fees and expenses to be paid by the indemnifying party, if representation
      of such indemnified party by the counsel retained by the indemnifying
      party would be inappropriate due to actual or potential conflict of
      interests between such indemnified party and any other party represented
      by such counsel in such proceeding; provided that there may only be one
      such counsel retained for all indemnified parties. The failure to deliver
      written notice to the indemnifying party within a reasonable time of the
      commencement of any such action will relieve such indemnifying party of
      liability to the indemnified party under this Section 9(f) to the extent
      the indemnifying party is prejudiced as a result thereof, but the omission
      so to deliver written notice to the indemnified party will not relieve it
      of any liability that it may have to any indemnified party otherwise than
      under this Section 9(f).

                  (iv) Defect Eliminated in Final Prospectus. The foregoing
      indemnity agreements of the Company and Holder are subject to the
      condition that, insofar as they relate to any Violation made in a
      preliminary prospectus but eliminated or remedied in the amended
      prospectus on file with the SEC at the time the registration statement in
      question becomes effective or the amended prospectus filed with the SEC
      pursuant to SEC Rule 424(b) (the "Final Prospectus"), such indemnity
      agreement will not inure to the benefit of any person if a copy of the
      Final Prospectus was timely furnished to the indemnified party and was not
      furnished to the person asserting the loss, liability, claim or damage at
      or prior to the time such action is required by the Act.

                  (v) Contribution. In order to provide for just and equitable
      contribution to joint liability under the Act in any case in which either
      (i) Holder exercising rights under this Agreement, or any controlling
      person of any Holder, makes a claim for indemnification pursuant to this
      Section 9(f) but it is judicially determined (by the entry of a final
      judgment or decree by a court of competent jurisdiction and the expiration
      of time to appeal or the denial of the last right of appeal) that such
      indemnification may not be enforced in such case notwithstanding the fact
      that this Section 9(f) provides for indemnification in such case, or (ii)
      contribution under the Act may be required on the part of Holder or any
      such controlling person in circumstances for which indemnification is
      provided under this Section 9(f); then, and in each such case, the Company
      and Holder will contribute to the aggregate losses, claims, damages or
      liabilities to which they may be subject (after contribution from others)
      in such proportion as is appropriate to reflect the relative fault of the
      Company and Holder in connection with the actions, statements or omissions
      that resulted in such losses, claims, damages or liabilities as well as
      any other relevant equitable considerations; so that Holder is responsible
      for the portion represented by the percentage that the public offering
      price of its Registrable Securities offered by and sold under the
      registration statement bears to the public offering price of all
      securities offered by and sold under such registration statement;
      provided, however, that, in any such case no person or entity guilty of
      fraudulent misrepresentation (within the meaning of Section 11(f) of the
      Act) will be entitled to contribution from any person or entity who was
      not guilty of such fraudulent

                                       22
<PAGE>

      misrepresentation. The relative faults of the Company and Holder will be
      determined by reference to, among other things, whether any action in
      question, including any untrue or alleged untrue statement of a material
      fact or omission or alleged omission to state a material fact, was made
      by, or relates to information supplied by the Company or Holder, and the
      Company's and Holder's relative intent, knowledge, access to information
      and opportunity to correct or prevent that action.

                  (vi) Survival. The obligations of the Company and Holder under
      this Section 9(f) will survive until the second anniversary of the
      completion of any offering of Registrable Securities in a registration
      statement, regardless of the expiration of any statutes of limitation or
      extensions of such statutes.

            (g) Rule 144; Other Exemptions. For so long as the Company will have
      a class of securities registered under Section 12(b) or Section 12(g) of
      the Exchange Act, the Company covenants that it will file, on a timely
      basis, any reports required to be filed by it under the Exchange Act and
      the rules and regulations adopted by the SEC thereunder and keep all such
      reports and public information current to the extent required by Rule 144
      under the Act, and that it will take all further action as each Holder may
      reasonably request (including providing and keeping current any
      information necessary to comply with Rules 144 under the Act and providing
      any written opinions of counsel to the Company reasonably requested), all
      to the extent required from time to time to enable the Holder to sell
      Registrable Securities without registration under the Act within the
      limitation of the exemptions provided by (a) Rule 144 under the Act, as
      the rules may be amended from time to time, or (b) any other rules or
      regulations now existing or hereafter adopted by the SEC. At such time as
      the Company will not have a class of securities registered under Section
      12(b) or Section 12(g) of the Exchange Act, the Company covenants that it
      will furnish or otherwise make available any information required for the
      Holder to sell the Registrable Securities under Rule 144A. The Company
      will, upon the request of any Holder, deliver to the Holder a written
      certification of a duly authorized officer as to whether the Company has
      complied with the requirements.

            (h) Termination of the Company's Obligations. The Company will have
      no obligations pursuant to Section 9 with respect to any Registrable
      Securities proposed to be sold by a Holder in a registration pursuant to
      Section 9: (i) if the Company has already effected two registration
      pursuant to this Section 9 or (ii) if, in the opinion of counsel to the
      Company, all such Registrable Securities proposed to be sold by Holder may
      then be sold under Rule 144 which written opinion will be addressed and
      delivered to the Company's transfer agent (and a copy of which will be
      sent to Holder).

            (i) Assignment of Registration Rights. Notwithstanding anything
      herein to the contrary, the registration rights of the Investor under this
      Section 9 may be assigned to any affiliate of the Investor, but may only
      be assigned to any third party if (A) Holder agrees in writing with the
      transferee or assignee to assign (x) greater than 50% of the Stock then
      owned by the Investor to such transferee or assignee, and (y) all of
      Holder's registration rights to the Registrable Securities are assigned to
      a third party, and a copy of such agreement is furnished to the Company as
      soon as reasonably practical after such assignment, (B) as soon as
      reasonably practical after such assignment, the Company is furnished with
      written notice of (i) the name and address of such transferee or assignee,
      and (ii) amount of the securities that are being

                                       23
<PAGE>

      transferred or assigned, (C) following such transfer or assignment the
      further disposition of such securities by the transferee or assignee is
      restricted under the Act and applicable state securities laws, and (D) at
      or before the time the Company receives written notice contemplated by
      clause (B) of this Section 9, the transferee or assignee agrees in writing
      with the Company to be bound by all of the provisions of this Section 9.

      10. Miscellaneous.

            (a) Termination. This Agreement may, by notice given before or
      immediately prior to the First Closing and subject to Section 10(b), be
      terminated:

                  (i) Breach. By either the Company or the Investor if a
      material breach of any provision of this Agreement or any Transaction
      Document has been committed by the other party, which breach has not been
      cured within fifteen (15) days or waived by the non-breaching party;

                  (ii) Material Adverse Effect. By either the Company or the
      Investor if a Company Material Adverse Effect or an Investor Material
      Adverse Effect, as the case may be, has occurred;

                  (iii) Conditions. By either party if satisfaction of any
      condition in Section 7 is or becomes impossible (other than through the
      failure of the terminating party to comply with its obligations under this
      Agreement);

                  (iv) Mutual Consent. By the mutual consent of the Company and
      the Investor; and

                  (v) First Closing. By either party if the First Closing has
      not occurred (other than through the failure of the party seeking to
      terminate this Agreement to comply fully with its obligations under this
      Agreement) on or before December 31, 2000, or such later date as the
      parties may agree.

      If this Agreement is terminated pursuant to this Section 10, all
obligations of the parties under this Agreement will terminate, except that the
obligations in Sections 10 (e) and (n) will survive; provided, however, that if
this Agreement is terminated by a party because of the breach of a covenant
contained in this Agreement by the other party or because one or more of the
conditions to the terminating party's obligations under this Agreement is not
satisfied as a result of the other party's failure to comply with its covenants
under this Agreement, the terminating party's right to pursue legal remedies for
the recovery of its costs and expenses reasonably incurred in connection with
transactions contemplated by this Agreement and the other Transaction Documents
will survive such termination unimpaired, provided that in no event will either
party have a right to recover any incidental or consequential damages; provided,
however, that the foregoing clause of this sentence will not be deemed a waiver
by any party of any right to specific performance or injunctive relief, or any
right to remedy arising by reason of any claim of fraud with respect to this
Agreement.

                                       24
<PAGE>

            (b) Notices. Any notice required or permitted hereunder will be
      given in writing and will be deemed effectively given upon personal
      delivery or two days after being sent by reputable international overnight
      courier service, telegram or fax, addressed to the other party hereto at
      his address hereinafter shown below its signature or at such other address
      as such party may designate by ten (10) days' advance written notice to
      the other party hereto, provided that confirmation of facsimile delivery
      will be retained by the sender.

            (c) Successors and Assigns. This Agreement will inure to the benefit
      of the successors and assigns of the Company and, subject to the
      restrictions on transfer herein set forth, be binding upon the Investor,
      the Investor' successors, and assigns. A person that is a SAirGroup
      Affiliate as defined in the Stockholder's Agreement may become a party to
      this Agreement by executing a counterpart of this Agreement.

            (d) Attorneys' Fees. The non-prevailing party will reimburse the
      prevailing party for all costs incurred by the prevailing in enforcing the
      performance of, or protecting its rights under, any part of this
      Agreement, including reasonable costs of investigation and attorneys'
      fees.

            (e) Hart-Scott-Rodino Filing Fees. The Investor will be responsible
      for paying the filing fees for the Hart-Scott-Rodino Antitrust
      Improvements Act Notification and Report Form (the "HSR Form") with the
      Federal Trade Commission (the "FTC") and the Investor will reimburse the
      Company for any fees payable to FTC in connection with filing the HSR
      Form.

            (f) Dispute Resolution.

                  (i) Any controversy or claim arising out of or relating to
      this Agreement, or breach thereof, whether arising in tort, contract or
      otherwise, shall be settled in accordance with the following procedures:

                        (A) The parties, on written notice of a controversy or
      claim given by one party to the other, shall first consult and negotiate
      with each other in good faith and, recognizing their mutual interests,
      attempt to reach an equitable solution.

                        (B) If the parties are unable to reach such a solution
      within a period of 30 days from the date of the receipt of a written
      notice of the controversy or claim given by the party requesting good
      faith negotiations, the controversy or claim shall be referred to the
      chief executive officer of each party (each, a "Chief Executive Officer").
      The respective Chief Executive Officers shall negotiate with each other in
      good faith and, recognizing their mutual interests, attempt to reach an
      equitable solution.

                        (C) If the respective Chief Executive Officers are
      unable to reach such a solution within a period of 30 days from the
      referral of such controversy or claim, an independent mediator chosen by
      both the Company and the Investor shall attempt to resolve such
      controversy or claim.

                        (D) If the parties are unable to mutually agree upon a
      mediator, then the mediator shall be appointed by the American Arbitration

                                       25
<PAGE>

      Association in the New York, New York metropolitan area ("AAA") in
      accordance with then-current commercial rules of mediation thereof.

                        (E) If such controversy or claim cannot be resolved by
      mediation within sixty (60) days after the party raising the controversy
      or claim first notifies the other party thereof in writing, then the
      controversy or claim shall be submitted to AAA for binding arbitration, to
      be held in the New York, New York metropolitan area, in accordance with
      the then-current commercial rules of arbitration of AAA.

                  (ii) The award from any binding arbitration shall be binding
      upon the parties and their successors and permitted assigns, whether or
      not any party fails or refuses to participate therein, and judgment upon
      the award rendered by the arbitrator may be entered in any court having
      jurisdiction thereof.

                  (iii) The arbitrator shall have the power to issue injunctions
      and otherwise to grant equitable relief, and shall award legal fees and
      costs (including fees and costs incurred by AAA and by the arbitrator) to
      the prevailing party. The arbitrator shall not have the power to award
      punitive, exemplary or indirect damages.

                  (iv) Except as may be otherwise ordered by the arbitrator in
      accordance with Section 10(f)(iii), each party shall bear its own costs
      and expenses in connection with any proceeding commenced under this
      Section 10(f), including legal fees and disbursements, travel expenses,
      witness fees and costs, photocopying and other preparation expenses. The
      costs and other fees charged by the independent mediator or AAA, whether
      in connection with a mediation and/or arbitration, shall be shared equally
      by the parties.

            (g) Governing Law. This Agreement will be governed by and construed
      in accordance with the laws of the State of Delaware

            (h) Further Execution. The parties agree to take all such further
      action(s) as may reasonably be necessary to carry out and consummate this
      Agreement as soon as practicable, and to take whatever steps may be
      necessary to obtain any governmental approval in connection with or
      otherwise qualify the issuance of the securities that are the subject of
      this Agreement.

            (i) Entire Agreement; Amendment. This Agreement and the other
      Transaction Documents constitute the entire agreement between the parties
      with respect to the subject matter hereof and supersedes and merges all
      prior agreements or understandings, whether written or oral, other than
      (a) the Confidential Declaration, dated October 29, 1999, between the
      Company and SRT and (b) the Letter Amendment to Confidential Declaration,
      dated February 10, 2000, between the Company and SRT. This Agreement may
      not be amended, modified or revoked, in whole or in part, except by an
      agreement in writing signed by each of the parties hereto.

            (j) Severability. If one or more provisions of this Agreement are
      held to be unenforceable under applicable law, the parties agree to
      renegotiate such provision in good faith. In the event that the parties
      cannot reach a mutually agreeable and enforceable replacement for such
      provision, the (i) such provision will be excluded from this Agreement,
      (ii) the balance of the Agreement will be interpreted as if such

                                       26
<PAGE>

      provision were so excluded and (iii) the balance of the Agreement will be
      enforceable in accordance with its terms.

            (k) Waiver. The rights and remedies of the parties to this Agreement
      are cumulative and not alternative. Neither any failure nor any delay by
      any party in exercising any right, power, or privilege under this
      Agreement or any of the documents referred to in this Agreement will
      operate as a waiver of such right, power, or privilege, and no single or
      partial exercise of any such right, power, or privilege will preclude any
      other or further exercise of such right, power, or privilege or the
      exercise of any other right, power, or privilege. To the maximum extent
      permitted by applicable law, (a) no claim or right arising out of this
      Agreement or any of the documents referred to in this Agreement can be
      discharged by one party, in whole or in part, by a waiver or renunciation
      of the claim or right unless in writing signed by the other party,
      provided that if prior to the First Closing any party has actual knowledge
      of a breach of any representation or warranty and such Party fails to
      terminate this Agreement pursuant to Section 10(a) such actual knowledge
      will act as an express waiver of such breach; (b) no waiver that may be
      given by a party will be applicable except in the specific instance for
      which it is given; and (c) no notice to or demand on one party will be
      deemed to be a waiver of any obligation of that party or of the right of
      the party giving such notice or demand to take further action without
      notice or demand as provided in this Agreement or the documents referred
      to in this Agreement.

            (j) Survival. The representations and warranties in Sections 4, 5
      and 6 will survive for one year from the First Closing with respect to
      representations and warranties made with respect to the Stock and one year
      from the Second Closing with respect to representations and warranties
      made with respect to the Additional Stock.

            (m) Counterparts. This Agreement may be executed in two or more
      counterparts, each of which will be deemed an original and all of which
      together will constitute one instrument.

            (n) Public Announcements. Any public announcement or similar
      publicity with respect to this Agreement will be issued, if at all, at
      such time and in such manner as the Company and the Investor mutually
      determine. The Investor will not and will not permit any of its
      representatives to make any disclosure of this Agreement to any Person,
      except with the prior written consent of the Company or as required by
      Legal Requirements, and the Investor, Flightlease, SRT and SRT Group
      America understand and acknowledge that this Agreement will be filed by
      the Company as a public document with the Securities and Exchange
      Commission. The Company will not and will not permit any of its
      representatives to make any disclosure of this Agreement to any Person,
      except with the prior written consent of the Investor or as required by
      Legal Requirements.

                           [INTENTIONALLY LEFT BLANK]

                                       27
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.

                                          WILLIS LEASE FINANCE CORPORATION

                                          By: /s/ CHARLES F. WILLIS, IV
                                              -------------------------
                                              Charles F. Willis, IV
                                              Chief Executive
                                              Officer and President

                                          Address: 2320 Marinship Way,
                                                   Suite 300
                                                   Sausalito, CA  94965
                                                   Attn: Charles F. Willis, IV
                                                   Fax: 415-331-0607

                                          FLIGHTTECHNICS, LLC

                                          By: /s/ HANS JORG HUNZIKER
                                              -------------------------
                                              Hans Jorg Hunziker
                                              President

                                          By: /s/ HANS ULRICH BEYELER
                                              -------------------------
                                              Hans Ulrich Beyeler
                                              Vice President

                                          Address: c/o Flightlease AG

                                       28
<PAGE>

                                          SR TECHNICS GROUP

                                          By: /s/ HANS ULRICH BEYELER
                                              -------------------------
                                              Hans Ulrich Beyeler
                                              President and CEO

                                          Address: TB
                                                   CH- 8058 Zurich Airport
                                                   Attn: Hans Ulrich Beyeler
                                                   Fax: 41-1-812 9100

                                          By: /s/ GEORG RADON
                                              -------------------------
                                             Georg Radon
                                             Vice President and CFO

                                          FLIGHTLEASE AG

                                          By: /s/ HANS JORG HUNZIKER
                                              -------------------------
                                              Hans Jorg Hunziker
                                              President and CEO
                                          Address: DY
                                                   CH-8058 Zurich Airport
                                                   Attn: Hans Jorg Hunziker
                                                   Fax: 41-1-812 9813

                                          By: /s/ MATTHIAS MUELLER
                                              -------------------------
                                              Matthias Mueller
                                              Head of Business Development

                                       29
<PAGE>

                                          SR TECHNICS GROUP AMERICA, INC.

                                          By: /s/ HANS ULRICH BEYELER
                                              --------------------------
                                              Hans Ulrich Beyeler
                                              President and CEO

                                          By:  /s/ GEORG RADON
                                              --------------------------
                                              Georg Radon
                                              Vice President and CFO

                                          Address: c/o SR Technics Group

                                       30

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