Document:

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                                                                  Exhibit 10.39

                            INDEMNIFICATION AGREEMENT

         This agreement is made ____________, at Dublin, Ohio, between Cardinal
Health, Inc., an Ohio corporation (the "Company"), and _________ (the
"Officer").

                             Background Information

A. The Officer is an officer and employee of the Company and/or one or more of
its subsidiaries and, in that capacity, is performing valuable services for the
Company.

B. The shareholders of the Company have adopted a Restated Code of Regulations,
as amended (the "Regulations"), providing for indemnification of the officers of
the Company in accordance with Section 1701.13 of the Ohio Revised Code (the
"Statute"). The Regulations and the Statute specifically provide that they are
not exclusive, and contemplate that contracts may be entered into between the
Company and officers with respect to indemnification of officers.

C. The Company and Officer recognize the substantial cost of carrying directors
and officers liability insurance ("D&O Insurance") and that the Company may
elect not to carry D&O Insurance from time to time.

D. The Company and Officer further recognize that officers and directors may be
exposed to certain risks not covered by D&O Insurance.

E. These factors with respect to the coverage and cost to the Company of D&O
Insurance and issues concerning the scope of indemnity under the Statute and
Regulations generally have raised questions concerning the adequacy and
reliability of the protection presently afforded to officers.

F. In order to address such issues and induce the Officer to continue to serve
as an officer and employee of the Company or one of its subsidiaries, the
Company has determined to enter into this agreement with the Officer.

                             Statement of Agreement

         In consideration of the Officer's continued service as an officer of
the Company or one of its subsidiaries after the date of this agreement, the
Company and the Officer hereby agree as follows:

         Section 1. Indemnity of Officer. Subject only to the limitations set
forth in Section 2, below, the Company shall indemnify the Officer to the full
extent not otherwise prohibited by the Statute or other applicable law,
including without limitation indemnity:

                  (a) Against any and all costs and expenses (including legal,
         expert, and other professional fees and expenses), judgments, damages,
         fines (including excise taxes with respect to employee benefit plans),
         penalties, and amounts paid

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         in settlement actually and reasonably incurred by the Officer
         (collectively, "Expenses"), in connection with any threatened, pending,
         or completed action, suit or proceeding, or arbitration or other
         alternative dispute resolution mechanism (whether civil, criminal,
         administrative, or investigative and including without limitation an
         action by or in the right of the Company) (each a "Proceeding") to
         which the Officer is or at any time becomes a party, or is threatened
         to be made a party, as a result, directly or indirectly, of serving at
         any time: (i) as an officer, employee, or agent of the Company; or (ii)
         at the request of the Company as a director, officer, employee,
         trustee, fiduciary, manager, member, or agent of a corporation,
         partnership, trust, limited liability company, employee benefit plan,
         or other enterprise or entity; and

                  (b) Otherwise to the fullest extent that the Officer may be
         indemnified by the Company under the Regulations and the Statute,
         including without limitation the non-exclusivity provisions thereof.

         Section 2. Limitations on Indemnity. No indemnity pursuant to Section 1
shall be paid by the Company:

                  (a) Except to the extent that the aggregate amount of losses
         to be indemnified exceed the aggregate amount of such losses for which
         the Officer is actually paid or reimbursed pursuant to D&O Insurance,
         if any, which may be purchased and maintained by the Company or any of
         its subsidiaries;

                  (b) On account of any Proceeding in which judgment is rendered
         against the Officer for an accounting of profits made from the purchase
         or sale of securities of the Company pursuant to the provisions of
         Section 16(b) of the Securities Exchange Act of 1934, as amended;

                  (c) On account of the Officer's conduct which is determined
         (pursuant to the Statute) to have been knowingly fraudulent,
         deliberately dishonest, or willful misconduct, except to the extent
         such indemnity is otherwise permitted under the Statute;

                  (d) With respect to any remuneration paid to the Officer
         determined, by a court having jurisdiction in the matter in a final
         adjudication from which there is no further right of appeal, to have
         been in violation of law;

                  (e) If it shall have been determined by a court having
         jurisdiction in the matter, in a final adjudication from which there is
         no further right of appeal, that indemnification is not lawful;

                  (f) On account of the Officer's conduct to the extent it
         relates to any matter that occurred prior to the time such individual
         became an officer of the Company; provided, however, that this
         limitation shall not apply to the extent such matter occurred while the
         Officer was an officer, employee or agent of the Company or its
         subsidiaries (other than prior to the time such entity became a
         subsidiary of the Company); or

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                  (g) With respect to Proceedings initiated or brought
         voluntarily by the Officer and not by way of defense, except pursuant
         to Section 8 with respect to proceedings brought to enforce rights or
         to collect money due under this agreement; provided however that
         indemnity may be provided by the Company in specific cases if the Board
         finds it to be appropriate.

         In no event shall the Company be obligated to indemnify the Officer
pursuant to this agreement to the extent such indemnification is prohibited by
applicable law.

         Section 3. Advancement of Expenses. Subject to Section 7 of this
agreement, the Expenses incurred by the Officer in connection with any
Proceeding shall be promptly reimbursed or paid by the Company as they become
due; provided the Officer submits a written request to the Company for such
payment together with reasonable supporting documentation for such Expenses; and
provided further that the Officer, at the request of the Company, submits to the
Company an undertaking to the effect stated in Section 7, below.

         Section 4. Insurance and Self Insurance. The Company shall not be
required to maintain D&O Insurance in effect if and to the extent that such
insurance is not reasonably available or if, in the reasonable business judgment
of the Board, either (a) the premium cost of such insurance is disproportionate
to the amount of coverage, or (b) the coverage provided by such insurance is so
limited by exclusions that there is insufficient benefit from such insurance. To
the extent the Company determines not to maintain D&O Insurance, the Company
shall be deemed to be self-insured within the meaning of Section 1701.13(E)(7)
of the Statute and shall, in addition to the Officer's other rights hereunder,
provide protection to the Officer similar to that which otherwise would have
been available to the Officer under such insurance.

         Section 5. Continuation of Obligations. All obligations of the Company
under this agreement shall apply retroactively beginning on the date the Officer
commenced as, and shall continue during the period that the Officer remains, an
officer, employee, or agent of the Company or is, as described above, a
director, officer, employee, trustee, fiduciary, manager, member, or agent of
another corporation, partnership, limited liability company, trust, employee
benefit plan, or other enterprise and shall continue thereafter as long as the
Officer may be subject to any possible claim or any threatened, pending or
completed Proceeding as a result, directly or indirectly, of being such a
director, officer, employee, trustee, fiduciary, manager, member, or agent.

         Section 6. Notification and Defense of Claim. Promptly after receipt by
the Officer of notice of the commencement of any Proceeding, if a claim is to be
made against the Company under this agreement, the Officer shall notify the
Company of the commencement thereof, but the delay or omission to so notify the
Company shall not relieve the Company from any liability which it may have to
the Officer under this agreement, except to the extent the Company is materially
prejudiced by such delay or omission. With respect to any such Proceeding of
which the Officer notifies the Company of the commencement:

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                  (a) The Company shall be entitled to participate therein at
         its own expense;

                  (b) The Company shall be entitled to assume the defense
         thereof, jointly with any other indemnifying party similarly notified,
         with counsel selected by the Company and approved by the Officer, which
         approval shall not unreasonably be withheld. After notice from the
         Company to the Officer of the Company's election to assume such
         defense, the Company shall not be liable to the Officer under this
         agreement for any legal or other Expenses subsequently incurred by the
         Officer in connection with the defense thereof except as otherwise
         provided below. The Officer shall have the right to employ his own
         counsel in such Proceeding, but the fees and expenses of such counsel
         incurred after notice from the Company of its assumption of such
         defense shall be the expenses of the Officer unless (i) the employment
         of such counsel by the Officer has been authorized by the Company, (ii)
         the Officer, upon the advice of counsel, shall have reasonably
         concluded that there may be a conflict of interest between the Company
         and the Officer in the conduct of such defense, or (iii) the Company
         has not in fact employed counsel to assume such defense, in any of
         which cases the fees and expenses of such counsel shall be the expense
         of the Company. The Company shall not be entitled to assume the defense
         of any Proceeding brought by or on behalf of the Company or as to which
         the Officer, upon the advice of counsel, shall have made the conclusion
         described in (ii), above. In the event the Company assumes the defense
         of any Proceeding as provided in this Section 6(b), the Company may
         defend or settle such Proceeding as it deems appropriate; provided,
         however, the Company shall not settle any Proceeding in any manner
         which would impose any penalty or limitation on the Officer without the
         Officer's written consent, which consent shall not be unreasonably
         withheld.

                  (c) The Company shall not be required to indemnify the Officer
         under this agreement for any amounts paid in settlement of any
         Proceeding without the Company's written consent, which consent shall
         not be unreasonably withheld.

                  (d) The Officer shall cooperate with the Company in all ways
         reasonably requested by it in connection with the Company fulfilling
         its obligations under this agreement.

         Section 7. Repayment of Expenses. The Officer shall reimburse the
Company for all Expenses paid by the Company pursuant to Section 3 of this
agreement or otherwise in defending any Proceeding against the Officer if and
only to the extent that a determination shall have been made by a court in a
final adjudication from which there is no further right of appeal that the
Officer is not entitled to indemnification by the Company for such Expenses
under the Statute, the Regulations, this agreement, or otherwise.

         Section 8. Enforcement. The Company expressly confirms that it has
entered into this agreement and has assumed the obligations of this agreement in
order to induce the Officer to continue as an officer and employee of the
Company and acknowledges that the Officer is relying upon this agreement in
continuing in that capacity. If the Officer is

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required to bring an action to enforce rights or to collect money due under this
agreement, the Company shall reimburse the Officer for all of the Officer's
reasonable fees and expenses (including legal, expert, and other professional
fees and expenses) in bringing and pursuing such action, unless the court
determines that each of the material assertions made by the Officer as a basis
for such action were not made in good faith or were frivolous. The Company shall
have the burden of proving that indemnification is not required under this
agreement, unless a prior determination has been made by the shareholders of the
Company or a court of competent jurisdiction that indemnification is not
required hereunder.

         Section 9. Rights Not Exclusive. The indemnification provided by this
agreement shall not be deemed exclusive of any other rights to which the Officer
may be entitled under the Company's articles of incorporation, Regulations, any
vote of the shareholders or disinterested directors of the Company, the Statute,
or otherwise, both as to action in his official capacity and as to action in
another capacity while holding such office.

         Section 10. Separability. Each of the provisions of this agreement is a
separate and distinct agreement and independent of the others so that, if any
provisions of this agreement shall be held to be invalid and unenforceable for
any reason, such invalidity or unenforceability shall not affect the validity or
enforceability of the other provisions of this agreement.

         Section 11. Modification to Applicable Law. In the event there is a
change, after the date of this agreement, in any applicable law (including
without limitation the Statute) which: (a) expands the right of an Ohio
corporation to indemnify a member of its board of directors or an officer, such
change shall be automatically included within the scope of the Officer's rights
and Company's obligations under this agreement; or (b) narrows the right of an
Ohio corporation to indemnify a member of its board of directors or an officer,
such change, to the extent not otherwise required by such law, shall have no
effect on this agreement or the parties' rights and obligations hereunder.

         Section 12. Partial Indemnity. If the Officer is entitled under any
provision of this agreement to indemnity by the Company for some or a portion of
the Expenses actually or reasonably incurred by him in the investigation,
defense, appeal, or settlement of any Proceeding, but not for the total amount
thereof, the Company shall nevertheless indemnify the Officer for the portion of
such Expenses to which the Officer is entitled.

         Section 13. Governing Law. This agreement shall be interpreted and
enforced in accordance with the laws of the State of Ohio, without regard to
choice of law principles.

         Section 14. Successors. This agreement shall be binding upon, inure to
the benefit of, and be enforceable by and against the Officer and the Company
and their respective heirs, successors, and assigns. The Company shall require
any successor or assign (whether direct or indirect, by purchase, merger,
consolidation, or otherwise) to all or substantially all of the business and/or
assets of the Company, expressly, absolutely, and unconditionally to assume and
agree to perform this agreement in the same manner and to the same extent that
the Company would be required to perform it if no such succession or assignment
had taken place.

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         Section 15. Prior Agreements. This agreement shall supersede any other
agreements entered into prior to the date of this agreement between the Company
and the Officer concerning the subject matter of this agreement.

         Section 16. Consent to Jurisdiction. The Company and the Officer each
hereby irrevocably consents to the jurisdiction of the courts of the State of
Ohio for all purposes in connection with any action or proceeding which arises
out of or relates to this agreement and hereby waives any objections or defenses
relating to jurisdiction with respect to any lawsuit or other legal proceeding
initiated in or transferred to such courts.

                                               CARDINAL HEALTH, INC.

                                               By
                                                  ---------------------------

                                               OFFICER:

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

                                      -6-<PAGE>
                                                                EXHIBIT 10.1

                             STOCK OPTION AGREEMENT

         THIS STOCK OPTION AGREEMENT (the "Agreement"), made this ____ day of
___________, 20__ between Health Care REIT, Inc., a Delaware corporation (the
"Corporation"), and _____________________ (the "Participant").

                                   WITNESSETH:

         WHEREAS, the Participant is an employee and executive officer of the
Corporation; and

         WHEREAS, the Corporation adopted the Health Care REIT, Inc. 1995 Stock
Incentive Plan (the "Plan") in order to provide select key employees with
additional incentives to achieve long-term corporate objectives; and

         WHEREAS, the Compensation Committee of the Corporation's Board of
Directors decided that the Participant should be granted stock options to
purchase shares of the Corporation's common stock, $1.00 par value per share
("Common Stock"), on the terms and conditions set forth below, and in accordance
with the terms of the Plan.

         NOW, THEREFORE, in consideration of the covenants and agreements herein
contained and intending to be legally bound hereby, the parties hereto agree as
follows:

         1. GRANT OF OPTIONS.

                  Subject to the terms and conditions of this Agreement, the
Corporation hereby grants to the Participant the right and option to purchase up
to a total of ____________________ (_____) shares of the Common Stock of the
Corporation, at the option price of $______ per share (the "Options").

                  The Options shall consist of options to purchase _____ shares
of Common Stock intended to qualify as incentive stock options ("ISOs") within
the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the
"Code"), and options to purchase _____ shares of Common Stock not intended to
qualify as ISOs ("Nonstatutory Options").

         2. PERIOD OF EXERCISE.

                  The Options shall become exercisable by the Participant in
five installments. Subject to the accelerated vesting provided for in Sections
9, 10 and 11 below, at any time during the term of the Options, the maximum
number of shares of Common Stock the Participant may purchase by exercising
Nonstatutory Options, and the maximum number which the Participant may purchase
by exercising ISOs, shall be limited as specified in the following schedule:

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<TABLE>
<CAPTION>
                                              MAXIMUM NUMBER OF                     MAXIMUM NUMBER OF
                                             SHARES THAT MAY BE                    SHARES THAT MAY BE
                                           PURCHASED BY EXERCISING                    PURCHASED BY
   PERIOD                                    NONSTATUTORY OPTIONS                    EXERCISING ISOs
   ------                                    --------------------                    ---------------
<S>                                <C>                                        <C>
   From _________, 20__ to           Up to _____ shares                        None
   _________, 20__

   From _________, 20__ to           Up to _____ shares (less any shares       None
   _________, 20__                   previously purchased by exercising
                                     Nonstatutory Options)

   From _________, 20__ to           Up to _____ shares (less any shares       None
   _________, 20__                   previously purchased by exercising
                                     Nonstatutory Options)

   From _________, 20__ to           Up to _____ shares (less any shares       Up to _____ shares
   _________, 20__                   previously purchased by exercising
                                     Nonstatutory Options)

   From _________, 20__ to           Up to _____ shares (less any shares       Up to _____ shares (less any
   _________, 20__                   previously purchased by exercising        shares previously purchased by
                                     Nonstatutory Options)                     exercising ISOs)

</TABLE>

                  If, during any of these periods, the Participant fails to
exercise the Options with respect to all or any portion of the shares that may
be acquired at such time, the Participant shall be entitled to exercise the
Options with respect to the remaining portion of such shares at any subsequent
time prior to the termination date of the Options.

                  The Options intended to be ISOs are subject to the $100,000
annual limit on vesting of ISOs as set forth in Section 422(d) of the Code. To
the extent the aggregate fair market value (determined at the date of grant) of
the shares of Common Stock with respect to which those ISOs first become
exercisable by the Participant during any calendar year under this Section 2
(when aggregated with any prior ISOs granted to the Participant under stock
option plans of the Corporation) exceeds $100,000, whether by reason of
accelerated vesting under Sections 9, 10 or 11 or otherwise, the Options shall
consist of ISOs for the maximum number of shares that may be covered by ISOs
without violating Section 422(d) of the Code, and the remaining Options becoming
exercisable in that year shall be treated as Nonstatutory Options.

         3. TERMINATION DATE OF OPTIONS.

                  The Options granted herein, and the related Dividend
Equivalent Rights under Section 8 below, shall terminate on _________, 20__, the
tenth anniversary of the date of grant, and the Participant shall have no right
to exercise the Options at any time thereafter.

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         4. MANNER OF EXERCISE.

                  If the Participant elects to exercise the Options to purchase
shares of Common Stock, the Participant shall give written notice of such
exercise to the Corporate Secretary of the Corporation. The notice of exercise
shall state the number of shares of Common Stock as to which the Options are
being exercised, and the Corporation shall determine whether the Options
exercised are ISOs or Nonstatutory Options.

                  The Participant may exercise the Options to purchase all, or
any lesser whole number, of the number of shares of Common Stock that the
Participant is then permitted to purchase under Section 2.

         5. PAYMENT FOR SHARES.

                  Full payment of the option price for the shares of Common
Stock purchased by exercising the Options shall be due at the time the notice of
exercise is delivered pursuant to Section 4. Such payment may be made (i) in
cash, (ii) by delivery of shares of Common Stock currently owned by the
Participant with a fair market value equal to the option price, or (iii) in any
other form acceptable to the Corporation.

                  Alternatively, the Participant shall be deemed to have paid
the full option price due upon exercise of the Options, if the Participant's
notice of exercise is accompanied by an irrevocable instruction to the
Corporation to deliver the shares of Common Stock issuable upon exercise of the
Options (less any shares withheld to satisfy the Participant's tax obligations
pursuant to Section 7 below) promptly to a broker-dealer designated by
Participant, together with an irrevocable instruction to such broker-dealer to
sell at least that portion of the shares necessary to pay the option price (and
any tax withholding related expenses specified by the parties), and that portion
of the sale proceeds needed to pay the option price is delivered directly to the
Corporation no later than the close of business on the settlement date.

         6. ISSUANCE OF STOCK CERTIFICATES FOR SHARES.

                  The stock certificates for any shares of Common Stock issuable
to the Participant upon exercise of the Options shall be delivered to the
Participant (or to the person to whom the rights of the Participant shall have
passed by will or the laws of descent and distribution) as promptly after the
date of exercise as is feasible, but not before the Participant has paid the
option price for such shares and made any arrangements for tax withholding, as
required by Section 7.

         7. TAX WITHHOLDING.

                  Whenever the Participant exercises Options, the Corporation
shall notify the Participant of the amount of tax (if any) that must be withheld
by the Corporation under all applicable federal, state and local tax laws. With
respect to each exercise of the Options, the Participant agrees to make
arrangements with the Corporation to (a) remit the required amount to the
Corporation in cash, (b) authorize the Corporation to withhold a portion of the
shares of

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Common Stock otherwise issuable upon the exercise with a value equal to the
required amount, (c) deliver to the Corporation shares of Common Stock with a
value equal to the required amount, (d) authorize the deduction of the required
amount from the Participant's compensation, or (e) otherwise provide for payment
of the required amount in any other manner satisfactory to the Corporation.

         8. DIVIDEND EQUIVALENT RIGHTS.

                  The Participant is hereby granted rights to receive deferred
payments equivalent in value to the dividends that would have been payable on
the shares of Common Stock issuable under the Options if such shares were
outstanding on the dividend record dates between the date the Options were
granted to the Participant and the date the Options are exercised to acquire
such shares ("Dividend Equivalent Rights"). An unfunded bookkeeping account
shall be created for the Participant and the Participant's rights to the
balances credited to such account shall be no greater than those of an
unsecured creditor of the Corporation.

                  On each dividend record date occurring after the date of grant
of the Options and while any Options remain outstanding and unexercised, the
Participant's account shall be credited with a dollar amount equal to the
dividends that would have been payable with respect to the shares of Common
Stock issuable under the Options if such shares were outstanding on the dividend
record date:

                  (a) In the case of a cash dividend declared on the Common
         Stock, the amount credited to the Participant's account with respect
         thereto shall be equal to the dividend declared per share of Common
         Stock multiplied by the number of shares of Common Stock subject to the
         unexercised portion of the Options as of the dividend record date; and

                  (b) In the case of a stock dividend declared on the Common
         Stock, the amount credited to the Participant's account with respect
         thereto shall be equal to the dividend declared per share of Common
         Stock multiplied by (i) the number of shares of Common Stock subject to
         the unexercised portion of the Options and (ii) the current fair market
         value of a share of Common Stock on the dividend payment date.

                  When the Options with respect to which the Participant has
been granted Dividend Equivalent Rights first become exercisable (whether under
Section 2 above or Sections 9, 10 or 11 below), the Participant shall be
entitled to receive from the Corporation a distribution equal to (i) the dollar
amount then accumulated in his or her account, as described above, and not
previously distributed as provided in this paragraph, multiplied by (ii) a
fraction the numerator of which shall be the number of shares subject to the
Options that first become exercisable on such date and the denominator of which
shall be the sum of such number and the total number of shares subject to
Options that have not yet become exercisable; plus after shares have become
exercisable (iii) distributions equal to the quarterly dividend declared per
share of Common Stock multiplied by the number of shares of Common Stock that
have become exercisable, which distributions shall be paid quarterly on or about
the time of the dividend pay dates. The Participant's account shall be debited
by a dollar amount equal to the distribution. This distribution shall be
delivered to the Participant in the form of a cash payment. No distribution
shall be made until the Participant has made arrangements with the Corporation
to withhold all applicable payroll taxes from the

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<PAGE>

distribution, or to satisfy the tax withholding obligations in some other
manner, as described in Section 7 above.

                  Upon expiration or termination of the Options, all rights and
claims to the Dividend Equivalent Rights will be terminated.

         9. TERMINATION OF EMPLOYMENT; CHANGE IN CORPORATE CONTROL.

                  In the event of a Change in Corporate Control (as described
below), or if the Participant's employment with the Corporation is terminated
before the Options expire or have been exercised with respect to all of the
shares of Common Stock subject to the Options (as provided in subsections (a)
and (b) below), the Participant shall have the right to exercise the Options
during a period of ninety (90) days following the date of the Change in
Corporate Control or termination of employment (as applicable), but in no event
later than _________, 20__, and the Options shall expire at the end of such
period.

                  (a) In the event of a Change in Corporate Control, or if the
         Participant's employment is terminated involuntarily without "Cause"
         (as defined in the Participant's Employment Agreement), any portion of
         the Options not previously exercisable under Section 2 shall become
         immediately exercisable and the Participant shall be entitled to
         receive a cash payment of any balance then credited to the
         Participant's Dividend Equivalent Rights account pursuant to Section 8.

                  (b) In the case of an involuntary termination not described in
         subsection (a) above, or a voluntary termination by the Participant not
         following a Change in Corporate Control, the maximum number of shares
         the Participant may purchase by exercising the Options shall be the
         number of shares which could be purchased at the date of termination
         pursuant to Section 2. Participant shall not be entitled to receive a
         cash payment of any balance then credited to the Participant's Dividend
         Equivalent Rights account pursuant to Section 8.

                  For purposes of this Section 9, termination of employment as a
result of the expiration of the Participant's Employment Agreement shall be
considered a voluntary termination if the notice of non-renewal was delivered by
the Participant and an involuntary termination if the notice of non-renewal was
delivered by the Corporation and in both instances, the Participant is no longer
employed by the Corporation.

                  For purposes of this Section 9, a "Change in Corporate
Control" shall include any of the following events:

                  (i) The acquisition in one or more transactions of more than
         twenty percent of the Corporation's outstanding Common Stock (or the
         equivalent in voting power of any class or classes of securities of the
         Corporation entitled to vote in elections of directors) by any
         corporation, or other person or group (within the meaning of Section
         14(d)(3) of the Securities Exchange Act of 1934, as amended);

                                       5
<PAGE>
                  (ii) Any transfer or sale of substantially all of the assets
         of the Corporation, or any merger or consolidation of the Corporation
         into or with another corporation in which the Corporation is not the
         surviving entity;

                  (iii) Any election of persons to the Board of Directors which
         causes a majority of the Board of Directors to consist of persons other
         than "Continuing Directors". For this purpose, those persons who were
         members of the Board of Directors on May 1, 1995, shall be "Continuing
         Directors". Any person who is nominated for election as a member of the
         Board after May 1, 1995 shall also be considered a "Continuing
         Director" for this purpose if, and only if, his or her nomination for
         election to the Board of Directors is approved or recommended by a
         majority of the members of the Board (or of the relevant Nominating
         Committee) and at least five (5) members of the Board are themselves
         Continuing Directors at the time of such nomination; or

                  (iv) Any person, or group of persons, announces a tender offer
         for at least twenty percent (20%) of the Corporation's Common Stock.

         10. EFFECT OF DEATH.

                  If the Participant dies before the Options expire or have been
exercised with respect to all of the shares of Common Stock subject to the
Options, any portion of the Options not previously exercisable under Section 2
shall become exercisable, and the Participant's executor, administrator, or any
person to whom the Options may be transferred by the Participant's will or by
the laws of descent and distribution, shall have the right to (i) exercise the
Options, to the extent not previously exercised, at any time prior to the first
anniversary of the date of death, but in no event later than _________, 20__,
and (ii) to receive a cash payment of any balance then credited to the
Participant's Dividend Equivalent Rights account pursuant to Section 8 above.
For this purpose, the terms of this Agreement shall be deemed to apply to such
person as if he or she was the Participant.

         11. EFFECT OF PERMANENT AND TOTAL DISABILITY OR RETIREMENT AFTER
             AGE 65.

                  If the termination of the Participant's employment occurs
after a finding of the Participant's permanent and total disability, or as a
result of retirement after age 65, (i) any portion of the Options not previously
exercisable under Section 2 shall become exercisable, and the Options may be
exercised at any time during the period of twelve (12) months following the date
of termination of employment or retirement, as the case may be, but in no event
later than _________, 20__, and (ii) the Participant shall be entitled to
receive a cash payment of any balance then credited to the Participant's
Dividend Equivalent Rights account pursuant to Section 8.

                                       6
<PAGE>

         12. NONTRANSFERABILITY.

                  The Participant's rights under this Agreement may not be
assigned or transferred by the Participant other than by will or the laws of
descent and distribution. The Options may not be exercised by anyone other than
the Participant or, in the case of the Participant's death, by the person to
whom the rights of the Participant shall have passed by will or the laws of
descent and distribution.

         13. SECURITIES LAWS.

                  The Corporation may from time to time impose any conditions on
the exercise of the Options as it deems necessary or advisable to ensure that
the Options granted hereunder, and each exercise thereof, satisfy the applicable
requirements of federal and state securities laws. Such conditions to satisfy
applicable federal and state securities laws may include, without limitation,
the partial or complete suspension of the right to exercise the Options until
the offering of the shares covered by the Options have been registered under the
Securities Act of 1933, as amended, or the printing of legends on all stock
certificates issued to the Participant describing the restrictions on transfer
of such shares.

         14. RIGHTS PRIOR TO ISSUANCE OF CERTIFICATES.

                  Neither the Participant nor any person to whom the rights of
the Participant shall have passed by will or the laws of descent and
distribution shall have any of the rights of a stockholder with respect to any
shares of Common Stock until the date of the issuance to him or her of
certificates for such Common Stock as provided in Section 6 above.

         15. OPTIONS NOT TO AFFECT EMPLOYMENT.

                  Neither this Agreement nor the Options granted hereunder shall
confer upon the Participant any right to continued employment with the
Corporation. This Agreement shall not in any way modify or restrict any rights
the Corporation may have to terminate such employment under the terms of the
Participant's Employment Agreement.

         16. MISCELLANEOUS.

                  (a) This Agreement may be executed in one or more counterparts
all of which taken together will constitute one and the same instrument.

                  (b) The terms of this Agreement may only be amended, modified
or waived by a written agreement executed by both of the parties hereto.

                  (c) The validity, performance, construction and effect of this
Agreement shall be governed by the laws of the State of Ohio, without giving
effect to principles of conflicts of law; provided, however, that matters of
corporate law, including the issuance of shares of the Common Stock, shall be
governed by the Delaware General Corporation Law.

                                       7
<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement on the
date and year first above written.

ATTEST:                                    HEALTH CARE REIT, INC.

                                           By:
---------------------------------              -------------------------------
Vice President and                             Chairman and
Corporate Secretary                            Chief Executive Officer

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

                                           Name:
                                                 ------------------------------

                                       8

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