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                                                                   EXHIBIT 10.47

                                      UICI

                           2001 RESTRICTED STOCK PLAN

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                         UICI 2001 RESTRICTED STOCK PLAN

                                    SECTION 1

                                     GENERAL

         1.1 Purpose. The UICI 2001 Restricted Stock Plan (the "Plan") has been
established by UICI, a Delaware corporation (the "Company") to:

         (a) attract and retain employees and other persons providing services
             to the Company and the Related Companies (as defined below);

         (b) motivate Eligible Participants, by means of appropriate incentives,
             to achieve long-range goals;

         (c) provide incentive compensation opportunities that are competitive
             with those of other major corporations; and

         (d) further identify Eligible Participants' interests with those of
             the Company's other stockholders through compensation that is based
             on the Company's common stock;

and thereby promote the long-term financial interest of the Company and the
Related Companies, including the growth in value of the Company's equity and
enhancement of long-term stockholder return. The term "Related Company" means
any company during any period in which it is a "subsidiary corporation" (as that
term is defined in Code section 434(f)) with respect to the Company.

         1.2 Participation. Subject to the terms and conditions of the Plan, the
Board (as described in Section 4) shall determine and designate, from time to
time, from among the Eligible Individuals, those persons who will be granted one
or more Restricted Stock awards under Section 2 of the Plan, and thereby become
"Eligible Participants" in the Plan. For purposes of the Plan, the term
"Eligible Individual" shall mean any employee of the Company or a Related
Company and any other person providing material services to the Company or a
Related Company that is designated by the Board as eligible for participation in
the Plan.

                                    SECTION 2

                             RESTRICTED STOCK AWARDS

         2.1. Restricted Stock Awards. Subject to the following provisions of
this Section 2, awards of Restricted Stock under the Plan shall be made to
persons selected by the Board in accordance with subsection 1.2 and shall be
subject to the applicable provisions of subsection 2.2. For purposes of the
Plan, "Restricted Stock" awards under the Plan are grants of Stock to Eligible
Participants, the vesting of which is subject to such conditions as may be
established by the Board, with some or all of those conditions relating to
events (such as performance, satisfaction of Company performance targets
established by lenders or continued employment) occurring after the date of
grant. The period beginning on the date of a grant of Restricted Stock is
referred to as the "Restricted Period."

         2.2. Terms and Conditions of Awards. In addition to any other terms and
conditions determined by the Board, all shares of Restricted Stock granted to
Eligible Participants under the Plan shall be subject to the following terms and
conditions, to the extent applicable:

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         (a)      Except as otherwise provided, Restricted Stock granted to
                  Eligible Participants under the Plan may not be sold,
                  assigned, transferred, pledged, hypothecated or otherwise
                  encumbered during the Restricted Period, except as designated
                  by the Eligible Participant by will or by the laws of descent
                  and distribution or pursuant to a qualified domestic relations
                  order as defined by the Internal Revenue Code, Title I of the
                  Employee Retirement Income Security Act or the rules
                  thereunder. During the Restricted Period, the Eligible
                  Participant shall have all the rights of a stockholder,
                  including but not limited to the right to vote such shares
                  and, except as otherwise provided by the Board, the right to
                  receive all dividends paid on such shares.

         (b)      Except as otherwise determined by the Board, an Eligible
                  Participant who ceases to perform services for the Company and
                  the Related Companies prior to the end of the Restricted
                  Period for any reason shall forfeit all shares of Restricted
                  Stock remaining subject to any outstanding Restricted Stock
                  award.

         (c)      The Company may require a written statement that the Eligible
                  Participant is acquiring shares of Restricted Stock for
                  investment and not with the intention of distributing the
                  shares, except for a sale to a purchaser who makes the same
                  representation in writing, and that the holder of the shares
                  of Restricted Stock will not dispose of such shares in
                  violation of the registration requirements of the Securities
                  Act of 1933, as amended, or any other applicable law.

                                    SECTION 3

                                OPERATION OF PLAN

         3.1. Effective Date. The Plan shall be effective as of January 1, 2001,
subject to approval of the Company's stockholders. The Plan shall be unlimited
in duration and, in the event of Plan termination, shall remain in effect as
outstanding and not fully vested.

         3.2. Shares Subject to Plan. The shares of Stock with respect to which
awards may be made under the Plan shall be shares currently authorized but
unissued or currently held or subsequently acquired by the Company as treasury
shares, including shares purchased in the open market or in private
transactions. Subject to the provisions of subsection 4.4, the number of shares
of Stock, which may be issued with respect to awards under the plan shall not
exceed 100,000 shares in the aggregate. In the event that shares of Stock that
are delivered under the Plan are thereafter reacquired by the Company pursuant
to rights reserved upon the award thereof, such reacquired shares shall again be
available for awards under the Plan.

         3.3. Adjustments to Shares. In the event of any merger, consolidation,
reorganization, recapitalization, spinoff, stock dividend, stock split, reverse
stock split, exchange or other distribution with respect to shares of Stock or
other change in the corporate structure or capitalization affecting the Stock,
the type and number of shares of stock which are or may be subject to awards
under the Plan and the terms of any outstanding awards shall be equitably
adjusted by the Board, in its sole discretion, to preserve the value of benefits
awarded or to be awarded to Eligible Participants under the Plan; provided,
however, in the event of a merger or a sale of substantially all of the assets
of the Company, the Board, in its sole discretion, may substitute awards of
equal value for outstanding awards under the Plan or cancel outstanding awards,
provided that the Eligible Participant receives an amount that the Board
believes is reasonable payment therefor.

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         3.4. Limit on Distribution. Distribution of shares of Stock or other
amounts under the Plan shall be subject to the following:

         (a)      Notwithstanding any other provision of the Plan, the Company
                  shall have no liability to deliver any shares of Stock under
                  the Plan or make any other distribution of benefits under the
                  Plan unless such delivery or distribution would comply with
                  all applicable laws and the applicable requirements of any
                  securities exchange or similar entity.

         (b)      In the case of an Eligible Participant who is subject to
                  Section 16(a) and 16(b) of the Securities Exchange Act of
                  1934, the Board may, at any time, add such conditions and
                  limitations to any award to such Eligible Participant, or any
                  feature of any such award, as the Board, in its sole
                  discretion, deems necessary or desirable to comply with
                  Section 16(a) or 16(b) and the rules and regulations
                  thereunder or to obtain any exemption therefrom.

         (c)      To the extent that the Plan provides for issuance of
                  certificates to reflect the transfer of shares of Stock, the
                  transfer of such shares may be effected on a non-certificated
                  basis, to the extent not prohibited by applicable law or the
                  rules of any stock exchange.

         3.5. Withholding. All awards under the plan are subject to withholding
of all applicable taxes, which withholding obligations may be satisfied, with
the consent of the Board, through the surrender of shares of Stock, which the
Eligible Participant already owns or to which a Participant is otherwise
entitled under the Plan.

         3.6. Agreement With Company. At the time of an award to an Eligible
Participant under the Plan, the Board may require an Eligible Participant to
enter into an agreement with the Company (the "Agreement") in substantially the
form as attached hereto as Exhibit A or otherwise as specified by the Board,
agreeing to the terms and conditions of the Plan and to such additional terms
and conditions, not inconsistent with the Plan, as the Board may, in its sole
discretion, prescribe.

         3.7. Limitation of Implied Rights.

         (a)      Neither an Eligible Participant nor any other person shall, by
                  reason of the Plan, acquire any right in or title to any
                  assets, funds or property of the Company or any Related
                  Company whatsoever, including, without limitation, any
                  specific funds, assets, or other property which the Company or
                  any Related Company, in its sole discretion, may set aside in
                  anticipation of a liability under the Plan. An Eligible
                  Participant shall have only a contractual right to the
                  amounts, if any, payable under the Plan, unsecured by any
                  assets of the Company and any Related Company. Nothing
                  contained in the Plan shall constitute a guarantee by the
                  Company or any Related Company that the assets of such
                  companies shall be sufficient to pay any benefits to any
                  person.

         (b)      The Plan does not constitute a contract of employment, and
                  selection as an Eligible Participant will not give any
                  employee the right to be retained in the employ of the Company
                  or any Related Company, nor any right or claim to any benefit
                  under the Plan, unless such right or claim has specifically
                  accrued under the terms of the Plan. Except as otherwise
                  provided in the Plan, no award under the Plan shall confer
                  upon the holder thereof any right as a stockholder of the
                  Company prior to the date on which he or she fulfills all
                  service requirements and other conditions for receipt of such
                  rights and shares of Stock are registered in his or her name.

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         3.8. Evidence. Evidence required of anyone under the Plan may be by
certificate, affidavit, document or other information, which the person acting
on it considers pertinent and reliable, and signed, made or presented by the
proper party or parties.

         3.9. Action by Company or Related Company. Any action required or
permitted to be taken by the Company or any Related Company shall be by
resolution of its board of directors, or by action of one or more members of the
board (including a committee of the board) who are duly authorized to act for
the board or (except to the extent prohibited by applicable law or the rules of
any stock exchange) by a duly authorized officer of the company.

         3.10. Gender and Number. Where the context admits, words in any gender
shall include any other gender, words in the singular shall include the plural
and the plural shall include the singular.

                                    SECTION 4

                                 ADMINISTRATION

         The authority to control and manage the operation and administration of
the Plan shall be vested in the Board of Directors of the Company, subject to
the following:

         (a)      Subject to the provisions of the Plan, the Board will have the
                  authority and discretion to select employees to receive
                  awards, to determine the time or times of receipt, to
                  determine the number of shares covered by the awards, to
                  establish the terms, conditions, performance criteria,
                  restrictions, and other provisions of such awards, and to
                  cancel or suspend awards. In making such award determinations,
                  the Board may take into account the nature of services
                  rendered by the respective employee, his present and potential
                  contribution to the Company's success and such other factors
                  as the Board deems relevant.

         (b)      The Board will have the authority and discretion to interpret
                  the Plan, to establish, amend and rescind any rules and
                  regulations relating to the Plan, to determine the terms and
                  provisions of any agreements made pursuant to the Plan and to
                  make all other determinations that may be necessary or
                  advisable for the administration of the Plan.

         (c)      Any interpretation of the Plan by the Board and any decision
                  made by it under the Plan is final and binding on all persons.

         (d)      Except as otherwise expressly provided in the Plan, where the
                  Board is authorized to make a determination with respect to
                  any award, such determination shall be made at the time the
                  award is made, except that the Board may reserve the authority
                  to have such determination made by the Board in the future
                  (but only if such reservation is made at the time the award is
                  granted and is expressly stated in the Agreement reflecting
                  the award);

provided, however, the Board, in its sole discretion, may delegate any or all of
its authority under the Plan to a committee of the Board and, to the extent so
delegated, references to the Board hereunder shall be deemed to refer such
committee. Except to the extent prohibited by applicable law or the rules of any
stock exchange, the Board or, if applicable, the committee of the Board, may
allocate all or any portion of its responsibilities and powers to any one or
more of its members and may delegate all or any part of its responsibilities and
powers to any person or persons selected by it. Any such allocation or
delegation may be revoked by the Board or committee, if applicable, at any time.

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                                    SECTION 5

                                CHANGE IN CONTROL

         Except as otherwise provided in the Agreement reflecting the applicable
award, upon the occurrence of a Change in Control, all restrictions on
outstanding Restricted Stock awards shall lapse. For purposes of the Plan, a
"Change in Control" shall be deemed to occur on the earliest of the existence of
one of the following events:

         (a)      (i) any "person" (as such term is used in Sections 13(d) or
                  14(d) of the Exchange Act), other than one or more Permitted
                  Holders (as defined below), is or becomes the beneficial owner
                  (as defined in Rules 13d-3 and 13d-5 under the Exchange Act),
                  directly or indirectly, of more than 35% of the total voting
                  power of the Voting Stock (as defined below) of the Company
                  and (ii) the Permitted Holders "beneficially own" (as defined
                  in Rules 13d-3 and 13d-5 under the Exchange Act), directly or
                  indirectly, in the aggregate a lesser percentage of the voting
                  power of the Voting Stock of the Company than such other
                  person an do not have the right or ability by voting power,
                  contract or otherwise to elect or designate for election a
                  majority of the Board of Directors of the Company;

         (b)      individuals who, as of the date hereof, constitute the Board
                  (as of the date hereof the "Incumbent Board") cease for any
                  reason to constitute at least a majority of the Board,
                  provided that any individual becoming a director subsequent to
                  the date hereof whose election, or nomination for election by
                  the Company's shareholders, was approved by a vote of at least
                  a majority of the directors then comprising the Incumbent
                  Board shall be considered as though such individual were a
                  member of the Incumbent Board, but excluding, for this
                  purpose, any such individual whose initial assumption of
                  office is in connection with an actual or threatened "election
                  contest" relating to the election of the directors of the
                  Company (as such term is used in Rule 14a-11 of Regulation 14A
                  promulgated under the Exchange Act); or

         (c)      approval by the Company's shareholders of a reorganization,
                  merger or consolidation of the Company, in each case, with
                  respect to which all or substantially all of the individuals
                  and entities who were the respective beneficial owners of the
                  common stock and voting securities of the Company immediately
                  prior to such reorganization, merger or consolidation do not,
                  following such reorganization, merger or consolidation,
                  beneficially own, directly or indirectly, more than 70% of,
                  respectively, the then outstanding shares of common stock or
                  the combined voting power of the then outstanding voting
                  securities entitled to vote generally in the election of
                  directors, as the case may be, of the corporation resulting
                  from such reorganization, merger or consolidation, or of a
                  complete liquidation or dissolution of the Company or of the
                  sale or other disposition of all or substantially all of the
                  assets of the Company.

          For purposes of this Section 5, the term "Permitted Holders" means
Ronald L. Jensen, his spouse and any child of Ronald L. Jensen and any person or
entity controlled by, under common control with or controlling Ronald L. Jensen
or any of the foregoing persons. The term "Voting Stock" of the Company means
all classes of capital stock of the Company then outstanding and normally
entitled to vote in the election of directors.

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                                    SECTION 6

                            AMENDMENT AND TERMINATION

          The Board may, at any time, amend or terminate the Plan, provided
that, subject to subsection 3.3 (relating to certain adjustments to shares), no
amendment or termination may materially adversely affect the rights of any
Participant or beneficiary under any award made under the Plan prior to the date
such amendment is adopted by the Board.

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                                                                   EXHIBIT 10.48

                              TERMINATION AGREEMENT

         THIS AGREEMENT, dated as of April 13, 2000, is by and between UICI, a
Delaware corporation ("Parent"), UICI Acquisition Co., a Delaware corporation
and a wholly owned subsidiary of Parent ("Sub"), UICI Capital Trust I, a
Delaware business trust (the "Trust"), and HealthPlan Services Corporation, a
Delaware corporation ("Company").

         WHEREAS, Parent, Sub, the Trust and the Company are parties to an
Amended and Restated Agreement and Plan of Merger, dated February 18, 2000, and
as amended as of March 6, 2000 (as so amended, the "Merger Agreement");

         WHEREAS, the Merger Agreement provides for the acquisition of the
Company by Parent pursuant to a merger of Company with and into Sub;

         WHEREAS, the merger and the other transactions contemplated by the
Merger Agreement were subject to satisfaction of several conditions precedent,
including, among other things, the receipt by UICI of the written consent of the
requisite number of lenders (the "Company Lender Consent") under the Amended and
Restated Credit Agreement, dated as of May 1, 1998, as amended, between the
Company, the lenders named therein and First Union National Bank, as
administrative agent; and

         WHEREAS, despite the commercially reasonable efforts of UICI and the
Company, UICI has been unable to obtain the Company Lender Consent.

         NOW, THEREFORE, pursuant to Section 9.1(a) of the Merger Agreement,
Parent and the Company do hereby mutually agree to terminate the Merger
Agreement and the parties do hereby further agree that, pursuant to Section 9.2
of the Merger Agreement, the merger shall be abandoned and the Merger Agreement
shall become void, without liability on the part of any party thereto.

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         IN WITNESS WHEREOF, Parent, Sub, the Trust and Company do each hereby
acknowledge and agree to the foregoing as of the day and year first above
written.

UICI                                            HEALTHPLAN SERVICES CORPORATION

By:                                             By:
   --------------------------------                -----------------------------

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

Title:                                          Title:
      -----------------------------                   --------------------------

UICI ACQUISITION CO.

By:
   --------------------------------

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

Title:
      -----------------------------

UICI CAPITAL TRUST I

By:
   --------------------------------

Name:    Glenn W. Reed
     ------------------------------

Title:   Regular Trustee
      -----------------------------

By:
   --------------------------------

Name:    Matthew R. Cassell
     ------------------------------

Title:   Regular Trustee
      -----------------------------

                                      -2-

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