Document:

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                                                                    Exhibit 10.5

                          PEDIATRIX MEDICAL GROUP, INC.
                     AMENDED AND RESTATED STOCK OPTION PLAN
                               AS OF JUNE 4, 2003

         PURPOSE. The purpose of this Plan is to advance the interests of
Pediatrix Medical Group, Inc., a Florida corporation, providing an additional
incentive to attract and retain qualified and competent persons who are key to
the Company (as hereinafter defined), including key employees, Officers and
Directors, and upon whose efforts and judgment the success of the Company is
largely dependent, through the encouragement of stock ownership in the Company
by such persons.

         DEFINITIONS. As used herein, the following terms shall have the meaning
indicated:

         "Board" shall mean the Board of Directors of Pediatrix Medical Group,
Inc.

         "Code" shall mean the Internal Revenue Code of 1986, as amended.

         "Committee" shall mean the stock option committee appointed by the
Board pursuant to Section 14(a) hereof or, if not appointed, the Board.

         "Common Stock" shall mean Pediatrix Medical Group, Inc.'s Common Stock,
par value $0.01 per share.

         "Company" shall refer to Pediatrix Medical Group, Inc., a Florida
corporation, its direct and indirect majority owned subsidiaries and any
business entity related to the them through long-term management contracts which
provide the medical component of the services required in respect of any
arrangement where Pediatrix Medical Group, Inc. provides the non-medical
component of the services required in respect of such arrangement in various
states and Puerto Rico.

         "Director" shall mean a member of the Board.

         "Effective Date" shall mean the date the Plan was originally effective,
September 20, 1995.

         "Employee Director" shall mean a member of the Board who is also an
employee of the Company.

         "Fair Market Value" of a Share on any date of reference shall be the
"Closing Price" (as defined below) of the Common Stock on such business day,
unless the Committee in its sole discretion shall determine otherwise in a fair
and uniform manner. For the purpose of determining Fair Market Value, the
"Closing Price" of the Common Stock on any business day shall be (i) if the
Common Stock is listed or admitted for trading on any United States national
securities exchange, or if actual transactions are otherwise reported on a
consolidated transaction reporting system, the last reported sale price of
Common Stock on such exchange or reporting system, as reported in any newspaper
of general circulation, (ii) if the Common Stock is quoted on the New York Stock
Exchange ("NYSE"), or any similar system of automated dissemination of
quotations of securities prices in common use, the last reported sale price of
Common Stock on NYSE or such system, or (iii) if neither clause (i) or (ii) is
applicable, the mean between the high bid and low asked quotations for the
Common Stock as reported by the National Quotation Bureau, Incorporated if at
least two securities dealers have inserted both bid and asked quotations for
Common Stock on at least five of the ten preceding days. If neither (i), (ii) or
(iii) above is applicable, then Fair Market Value shall be determined in good
faith by the Committee or the Board in a fair and uniform manner.

         "Grant" shall mean the agreement between the Company and the Optionee
for the grant of an Option.

         "Incentive Stock Option" shall mean an incentive stock option as
defined in Section 422 of the Code.

         "Non-Employee Director" shall mean a member of the Board who is not an
employee of the Company.

         "Non-Qualified Stock Option" shall mean an Option which is not an
Incentive Stock Option.

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         "Officer" shall mean any person defined as an "executive officer"
pursuant to Item 401(b) of Regulation S-K (17 C.F.R. Section 229.401(b)), unless
otherwise specified in a resolution by the Board.

         "Option(s)" (when capitalized) shall mean any option or options granted
under this Plan.

         "Optionee" shall mean a person to whom a stock option is granted under
this Plan or any person who succeeds to the rights of such person under this
Plan by reason of the death of such person.

         "Outside Director" shall mean a member of the Board who qualifies as an
"outside director" under Code Section 162(m) and the regulations thereunder and
as a "Non-Employee Director" under Rule 16b-3.

         "Plan" shall mean this Stock Option Plan for the Company.

         "Rule 16B-3" shall mean Rule 16B-3 promulgated under the Securities
Exchange Act.

         "Securities Exchange Act" shall mean the Securities Exchange Act of
1934, as amended.

         "Share(s)" shall mean a share or shares of the Common Stock.

         SHARES AND OPTIONS. The Committee or the Board may grant to Optionees
from time to time Options to purchase an aggregate of up to 8,000,000 Shares
from authorized and unissued Shares. If any Option granted under the Plan shall
terminate, expire, or be canceled or surrendered as to any Shares, new Options
may thereafter be granted covering such Shares.

         INCENTIVE AND NON-QUALIFIED OPTIONS. An Option granted hereunder shall
be either an Incentive Stock Option or a Non-Qualified Stock Option as
determined by the Committee or the Board at the time of grant of such Option and
shall clearly state whether it is an Incentive Stock Option or a Non-Qualified
Stock Option. All Incentive Stock Options shall be granted within 10 years from
the Effective Date. Incentive Stock Options may not be granted to any person who
is not an employee of the Company.

         DOLLAR LIMITATION. Options otherwise qualifying as Incentive Stock
Options hereunder will not be treated as Incentive Stock Options to the extent
that the aggregate Fair Market Value (determined at the time the Option is
granted) of the Shares, with respect to which Options meeting the requirements
of Code Section 422(b) are exercisable for the first time by any individual
during any calendar year (under all plans of Pediatrix Medical Group, Inc. and
its parent corporations and subsidiary corporations (if any) within the meaning
of Code Section 424), exceeds $100,000.

         CONDITIONS FOR GRANT OF OPTIONS.

         Each Option shall be evidenced by a Grant that may contain any term
deemed necessary or desirable by the Committee or the Board, provided such terms
are not inconsistent with this Plan or any applicable law. The Optionees shall
be (i) those persons selected by the Committee or the Board from the class of
all employees of the Company, including Employee Directors and Officers who are
employees of the Company and (ii) solely in accordance with Section 15 below,
Non-Employee Directors. Any person who files with the Committee, in a form
satisfactory to the Committee, a written waiver of eligibility to receive any
Option under this Plan shall not be eligible to receive any Option under this
Plan for the duration of such waiver.

         In granting Options, the Committee or the Board shall take into
consideration the contribution the person has made to the success of the Company
and such other factors as the Committee or the Board shall determine. The
Committee or the Board shall also have the authority to consult with and receive
recommendations from officers and other personnel of the Company with regard to
these matters. The Committee or the Board may from time to time in granting
Options under the Plan prescribe such other terms and conditions concerning such
Options as it deems appropriate, including, without limitation, (i) prescribing
the date or dates on which the Option becomes exercisable, (ii) providing that
the Option rights accrue or become exercisable in installments over a period of
years, or upon the attainment of stated goals or both, or (iii) relating an
Option to the continued employment of the Optionee for a specified period of
time, provided that such terms and conditions are not more favorable to an
Optionee than those expressly permitted herein.

         The Options granted to employees under this Plan shall be in addition
to regular salaries, pension, life insurance or other benefits related to their
employment with the Company. Neither the Plan nor any Option granted under the
Plan shall confer upon any person any right to employment or continuance of
employment by the Company.

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         Notwithstanding any other provision of this Plan, an Incentive Stock
Option shall not be granted to any person owning directly or indirectly (through
attribution under Section 424(d) of the Code) at the date of grant, stock
possessing more than 10% of the total combined voting power of all classes of
stock of the Company (or of its parent or subsidiary corporation (as defined in
Section 424 of the Code) at the date of grant) unless the option price per Share
of such Option is at least 110% of the Fair Market Value of a Share on the date
the Option is granted, and such Option by its terms is not exercisable after the
expiration of five years from the date such Option is granted.

         Notwithstanding any other provision of this Plan, and in addition to
any other requirements of this Plan, the aggregate number of Shares with respect
to which Options may be granted under the Plan to any one Director, Officer or
employee shall not exceed 250,000 in any calendar year, and the aggregate number
of Shares with respect to which Incentive Stock Options may be granted under the
Plan shall not exceed 3,250,000.

         Notwithstanding the provisions of Section 3 and paragraph (a) above,
the Chief Executive Officer of the Company shall have the right to grant Options
to any persons, other than Officers and Non-Employee Directors, to whom Options
may be granted under paragraph (a) above, PROVIDED THAT (i) the number of
Options so granted to any one person shall not exceed 20,000 in any calendar
year, (ii) except as otherwise authorized by the Committee or the Board,
one-third of each such Option shall become vested and exercisable on each of the
first three anniversaries of the date such Option is granted, provided that the
Optionee is still an employee of the Company on such anniversary, and (iii) the
terms and conditions of such grants shall not be inconsistent with any other
provisions of this Plan.

         OPTION PRICE. The option price per Share of any Option shall be any
price determined by the Committee or the Board but shall not be less than the
par value per Share; provided, however, that in no event shall the option price
per Share of any Incentive Stock Option or any Option granted pursuant to
Section 6(f) above or Section 15(a) below be less than the Fair Market Value of
a Share on the date such Option is granted.

         EXERCISE OF OPTIONS. An Option shall be deemed exercised when (i) the
Company has received written notice of such exercise in accordance with the
terms of the Grant, (ii) full payment of the aggregate option price of the
Shares as to which the Option is exercised has been made, and (iii) arrangements
that are satisfactory to the Committee or the Board in its sole discretion have
been made for the Optionee's payment to the Company of the amount that is
necessary for the Company employing the Optionee to withhold in accordance with
applicable Federal or state tax withholding requirements. The consideration to
be paid for the Shares to be issued upon exercise of an Option, including the
method of payment, shall be determined by the Committee or the Board and may
consist of cash, certified or official bank check, money order, or if and to the
extent permitted by the Committee or the Board, (x) Shares held by the Optionee
for at least six (6) months (or such other Shares as the Company determines will
not cause the Company to realize a financial accounting change), (y) the
withholding of Shares issuable upon exercise of the Option, or (z) subject to
applicable law, by any form of cashless exercise procedure approved by the
Committee or the Board, or in such other consideration as the Committee or the
Board deems appropriate and permissable under applicable law, or by a
combination of the above. The Committee or the Board in its sole discretion may
accept a personal check in full or partial payment of any Shares. If the
exercise price is paid in whole or in part with Shares, or through the
withholding of Shares issuable upon exercise of the Option, the value of the
Shares surrendered shall be their Fair Market Value on the date the Option is
exercised. No Optionee shall be deemed to be a holder of any Shares subject to
an Option unless and until a stock certificate or certificates for such Shares
are issued to such person(s) under the terms of this Plan. No adjustment shall
be made for dividends (ordinary or extraordinary, whether in cash, securities or
other property) or distributions or other rights for which the record date is
prior to the date such stock certificate is issued, except as expressly provided
in Section 10 hereof.

         EXERCISABILITY OF OPTIONS. Any Option shall become exercisable in such
amounts, at such intervals and upon such terms as the Committee or the Board
shall provide in such Grant, except as otherwise provided in this Section 9.

         The expiration date of an Option shall be determined by the Committee
or the Board at the time of grant, but in no event shall an Option be
exercisable after the expiration of 10 years from the date of grant of the
Option.

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         Unless otherwise provided in any Option, each outstanding Option shall
become immediately fully exercisable in the event of a "Change in Control" or in
the event that the Committee or the Board exercises its discretion to provide a
cancellation notice with respect to the Option pursuant to Section 10(b) hereof.
For this purpose, the term "Change in Control" shall mean the approval by the
shareholders of Pediatrix Medical Group, Inc. of a reorganization, merger,
consolidation or other form of corporate transaction or series of transactions,
in each case, with respect to which persons who were the shareholders of
Pediatrix Medical Group, Inc. immediately prior to such reorganization, merger
or consolidation or other transaction do not, immediately thereafter, own more
than 50% of the combined voting power entitled to vote generally in the election
of directors of the reorganized, merged or consolidated company's then
outstanding voting securities, or a liquidation or dissolution of Pediatrix
Medical Group, Inc. or the sale of all or substantially all of the assets of
Pediatrix Medical Group, Inc. (unless such reorganization, merger, consolidation
or other corporate transaction, liquidation, dissolution or sale is subsequently
abandoned).

         The Committee or the Board may in its sole discretion accelerate the
date on which any Option may be exercised and may accelerate the vesting of any
Shares subject to any Option.

         TERMINATION OF OPTION PERIOD.

         Unless otherwise provided in any Grant, the unexercised portion of any
Option, other than an Option granted pursuant to Section 15 hereof, shall
automatically and without notice terminate and become null and void at the time
of the earliest to occur of the following:

         unless otherwise provided in any Grant, three months after the date on
which the Optionee's employment is terminated for any reason other than by
reason of (A) Cause, which, solely for purposes of this Plan, shall mean the
termination of the Optionee's employment by reason of the Optionee's willful
misconduct or gross negligence, (B) a mental or physical disability (within the
meaning of Code Section 22(e)) as determined by a medical doctor satisfactory to
the Committee or the Board, or (C) death;

         immediately upon the termination of the Optionee's employment for
Cause;

         one year after the date on which the Optionee's employment is
terminated by reason of a mental or physical disability (within the meaning of
Code Section 22(e)) as determined by a medical doctor satisfactory to the
Committee or the Board; or

         (A) twelve months after the date of termination of the Optionee's
employment by reason of death of the Optionee, or (B) three months after the
date on which the Optionee shall die if such death shall occur during the one
year period specified in Subsection 10(a)(iii) hereof.

         All references herein to the termination of the Optionee's employment
shall, in the case of an Optionee who is not an employee of the Company, refer
to the termination of the Optionee's service with the Company.

         The Committee in its sole discretion may by giving written notice
("cancellation notice") cancel, effective upon the date of the consummation of
any corporate transaction described in Section 9(b) hereof or of any
reorganization, merger, consolidation or other form of corporate transaction in
which the Company does not survive, any Option that remains unexercised on such
date. Such cancellation notice shall be provided to Optionee a reasonable period
of time prior to the proposed date of such cancellation and may be given either
before or after approval of such corporate transaction.

         ADJUSTMENT OF SHARES.

         If at any time while the Plan is in effect or unexercised Options are
outstanding, there shall be any increase or decrease in the number of issued and
outstanding Shares through the declaration of a stock dividend or through any
recapitalization resulting in a stock split-up, combination or exchange of
Shares, then and in such event:

         appropriate adjustment shall be made in the maximum number of Shares
available for grant under the Plan, or available for grant to any person under
the Plan, so that the same percentage of issued and outstanding Shares shall
continue to be subject to being so optioned; and

         appropriate adjustment shall be made in the number of Shares and the
exercise price per Share thereof then subject to any outstanding Option, so that
the same percentage of issued and outstanding Shares shall remain subject to
purchase at the same aggregate exercise price.

                                       4
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         Subject to the specific terms of any Grant, the Committee or the Board
may change the terms of Options outstanding under this Plan, with respect to the
option price or the number of Shares subject to the Options, or both, when, in
the Committee's or the Board's sole discretion, such adjustments become
appropriate so as to preserve but not increase benefits under the Plan.

         Except as otherwise expressly provided herein, the issuance by Company
of shares of its capital stock of any class, or securities convertible into
shares of capital stock of any class, either in connection with direct sale or
upon the exercise of rights or warrants to subscribe therefor, or upon
conversion of shares or obligations of Company convertible into such shares or
other securities, shall not affect, and no adjustment by reason thereof shall be
made with respect to the number of or exercise price of Shares then subject to
outstanding Options granted under the Plan.

         Without limiting the generality of the foregoing, the existence of
outstanding Options granted under the Plan shall not affect in any manner the
right or power of the Company to make, authorize or consummate (i) any or all
adjustments, recapitalizations, reorganizations or other changes in the
Company's capital structure or its business; (ii) any merger or consolidation of
the Company; (iii) any issue by the Company of debt securities, or preferred or
preference stock that would rank above the Shares subject to outstanding
Options; (iv) the dissolution or liquidation of the Company; (v) any sale,
transfer or assignment of all or any part of the assets or business of the
Company; or (vi) any other corporate act or proceeding, whether of a similar
character or otherwise.

         TRANSFERABILITY OF OPTIONS AND SHARES.

         No Incentive Stock Option, and unless the prior written consent of the
Committee or the Board is obtained and the transaction does not violate the
requirements of Rule 16B-3, no Non-Qualified Stock Option, shall be subject to
alienation, assignment, pledge, charge or other transfer other than by the
Optionee by will or the laws of descent and distribution, and any attempt to
make any such prohibited transfer shall be void. Each Option shall be
exercisable during the Optionee's lifetime only by the Optionee, or in the case
of a Non-Qualified Stock Option that has been assigned or transferred with the
prior written consent of the Committee or the Board, only by the permitted
assignee.

         Unless the prior written consent of the Committee or the Board is
obtained and the transaction does not violate the requirements of Rule 16B-3, no
Shares acquired by an Officer or Director pursuant to the exercise of an Option
may be sold, assigned, pledged or otherwise transferred prior to the expiration
of the six-month period following the date on which the Option was granted.

         ISSUANCE OF SHARES.

         Notwithstanding any other provision of this Plan, the Company shall not
be obligated to issue any Shares unless it is advised by counsel of its
selection that it may do so without violation of the applicable Federal and
state laws pertaining to the issuance of securities, and may require any stock
so issued to bear a legend, may give its transfer agent instructions, and may
take such other steps, as in its judgment are reasonably required to prevent any
such violation.

         As a condition of any sale or issuance of Shares upon exercise of any
Option, the Committee or the Board may require such agreements or undertakings,
if any, as the Committee or the Board may deem necessary or advisable to
facilitate compliance with any such law or regulation including, but not limited
to, the following:

         a representation and warranty by the Optionee to the Company, at the
time any Option is exercised, that Optionee is acquiring the Shares to be issued
to Optionee for investment and not with a view to, or for sale in connection
with, the distribution of any such Shares; and

         a representation, warranty and/or agreement to be bound by any legends
endorsed upon the certificate(s) for such Shares that are, in the opinion of the
Committee or the Board, necessary or appropriate to facilitate compliance with
the provisions of any securities law deemed by the Committee or the Board to be
applicable to the issuance and transfer of such Shares.

         ADMINISTRATION OF THE PLAN.

         The Plan shall be administered by the Committee appointed by the Board
which shall be composed of two or more Directors all of whom shall be Outside
Directors. The membership of the Committee shall be constituted so as to comply
at all times with the applicable requirements of Rule 16B-3 and Section 162(m)
of the Code. The

                                       5
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Committee shall serve at the pleasure of the Board and shall have the powers
designated herein and such other powers as the Board may from time to time
confer upon it.

         The Board may grant Options to any persons to whom options may be
granted under Section 6(a) hereof.

         The Committee or the Board, from time to time, may adopt rules and
regulations for carrying out the purposes of the Plan. The determinations by the
Committee or the Board and the interpretation and construction of any provision
of the Plan or any Option by the Committee or the Board, shall be final and
conclusive.

         Any and all decisions or determinations of the Committee shall be made
either (i) by a majority vote of the members of the Committee at a meeting or
(ii) without a meeting by the unanimous written approval of the members of the
Committee.

         GRANTS TO NON-EMPLOYEE DIRECTORS.

         Each person who becomes a Non-Employee Director and who is not then
affiliated with any beneficial owner of more than 10% of the Common Stock will
be granted an Option to purchase 10,000 Shares, effective as of the date of his
or her appointment as a Director. One-third of such Option shall become vested
and exercisable on each of the first three anniversaries of the date such Option
is granted, provided that the Optionee is still a Director on such anniversary.
The per Share exercise price of such Option will be equal to the Fair Market
Value of a Share on the date such Option is granted. The unexercised portion of
any such Option shall become null and void three months after the date on which
such Non-Employee Director ceases to be a Director for any reason.

         In addition to Options granted to Non-Employee Directors pursuant to
Section 15(a), each person who is a Non-Employee Director as of the close of an
annual meeting of Pediatrix Medical Group, Inc.'s shareholders and who is not
than affiliated with any beneficial owner of more than 10% of the Common Stock
will be granted an Option to purchase 4,000 Shares, effective as of the close of
such annual meeting. Such Option shall be immediately vested and exercisable.
The per Share exercise price of such Option will be equal to the Fair Market
Value of a Share on the date such Option is granted. The unexercised portion of
any such Option shall become null and void three months after the date on which
such Non-Employee Director ceases to be a Director for any reason.

         Non-Employee Directors shall not be eligible to receive any other
grants of Options pursuant to this Plan.

         WITHHOLDING OR DEDUCTION FOR TAXES. If at any time specified herein for
the making of any issuance or delivery of any Option or Common Stock to any
Optionee or beneficiary, any law or regulation of any governmental authority
having jurisdiction in the premises shall require the Company to withhold, or to
make any deduction for, any taxes or take any other action in connection with
the issuance or delivery then to be made, such issuance or delivery shall be
deferred until such withholding or deduction shall have been provided for by the
Optionee or beneficiary, or other appropriate action shall have been taken.

         INTERPRETATION.

         As it is the intent of the Company that the Plan comply in all respects
with Rule 16B-3, any ambiguities or inconsistencies in construction of the Plan
shall be interpreted to give effect to such intention, and if any provision of
the Plan is found not to be in compliance with Rule 16B-3, such provision shall
be deemed null and void to the extent required to permit the Plan to comply with
Rule 16B-3. The Committee or the Board may from time to time adopt rules and
regulations under, and amend, the Plan in furtherance of the intent of the
foregoing.

         The Plan shall be administered and interpreted so that all Incentive
Stock Options granted under the Plan will qualify as Incentive Stock Options
under section 422 of the Code. If any provision of the Plan should be held
invalid for the granting of Incentive Stock Options or illegal for any reason,
such determination shall not affect the remaining provisions hereof, but instead
the Plan shall be construed and enforced as if such provision had never been
included in the Plan.

         This Plan shall be governed by the laws of the State of Florida.

         Headings contained in this Plan are for convenience only and shall in
no manner be construed as part of this Plan.

         Any reference to the masculine, feminine, or neuter gender shall be a
reference to such other gender as is appropriate.

                                       6
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         AMENDMENT AND DISCONTINUATION OF THE PLAN. The Committee or the Board
may from time to time amend, suspend or terminate the Plan or any Option;
provided, however, that, any amendment to the Plan shall be subject to the
approval of the Company's shareholders if such shareholder approval is required
by any federal or state law or regulation (including, without limitation, Rule
16B-3 or to comply with Section 162(m) of the Code) or the rules of any Stock
exchange or automated quotation system on which the Common Stock may then be
listed or granted. Except to the extent provided in Sections 9 and 10 hereof, no
amendment, suspension or termination of the Plan or any Option issued hereunder
shall substantially impair the rights or benefits of any Optionee pursuant to
any Option previously granted without the consent of the Optionee.

         AMENDED AND RESTATED EFFECTIVE DATE AND TERMINATION DATE. The Effective
Date of this Amended and Restated Plan shall be June 4, 2003. The Plan shall
terminate on the 10th anniversary of the original Effective Date.

                                       7<PAGE>
                                                                    EXHIBIT 10.1

                        ADDENDUM TO EMPLOYMENT AGREEMENT

         This Addendum to Employment Agreement (the "ADDENDUM") is effective as
of the date set forth below, by and between Private Business, Inc. (the
"COMPANY"), and Henry M. Baroco (the "EXECUTIVE").

                                   WITNESSETH:

         WHEREAS, Company and Executive have previously entered into an
Employment Agreement dated August 10, 2001 (the "AGREEMENT"); AND

         WHEREAS, the Initial Term of the Agreement has expired and Company and
Executive have agreed to extend the Agreement as provided in Paragraph 5;

         WHEREAS, Executive has been named the Chief Executive Officer of the
Company;

         WHEREAS, Company and Executive wish to amend the Agreement to
specifically provide for certain payments provided in Paragraph 7.2 of the
Agreement, in accordance with the terms set forth below;

         NOW, THEREFORE, in consideration of the mutual promises and agreements
made herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

         1.       PAYMENT OF CERTAIN ADDITIONAL AMOUNTS. Paragraph 7.2(i)
provides for certain payments in the event that (a) after January 1,2002,
Executive resigns for any reason, (b) the Company at any time terminates the
Executive's employment without Cause, (c) the Company fails to renew Executive's
employment effective after the Initial Term, or (d) prior to January 1,2002,
Executive resigns because of an uncured material breach by the Company of any
term of this Agreement. Executive has remained employed by the Company through
January 31, 2003, and has agreed to continue to be employed by the Company as
the Chief Executive Officer subsequent to January 31,2003. As a result, the
Company has agreed to pay to Executive the amounts provided in Paragraph 7.2(i)
beginning in April 2003. The Company will pay executive $66,250 in the first
month of each calendar quarter (April, July, October and January) and $25,000 in
the second and third month of each calendar quarter in addition to his salary as
otherwise provided in the Agreement. These payments will be made each month over
the next 8 calendar quarters until the Executive has been paid a total of
$930,000, then all such payments shall cease. In the event Executive resigns or
his employment is terminated for any reason, including death or disability,
prior to the completion of the payments, these payments will continue until the
full $930,000 has been paid to the Executive or his estate. Once the $930,000
has been paid in full, Executive shall not be entitled to any further payments
upon his resignation or termination of employment under Paragraph 7 of the
Agreement or otherwise. There will be no other payments made to Executive
pursuant to this Addendum or to Paragraph 7.2(i) of the Agreement other that as
provided above.

<PAGE>

         2.       SUCCESSORS AND ASSIGNS. The provisions hereof shall inure to
the benefit of and be binding upon the permitted successors and assigns of the
parties hereto.

         3.       NON-ASSIGNABILITY BY THE EXECUTIVE. The rights and obligations
of the Executive hereunder are not assignable.

         4.       TERMINATION OF EMPLOYMENT AND CONSOLIDATION, MERGER OR SALE OF
ASSETS. Nothing in this Addendum shall preclude the Company or Executive from
terminating Executive's employment as provided in the Agreement or preclude the
Company from consolidating or merging into or with, or transferring all or
substantially all of its assets to, another individual, entity or business that
assumes the Agreement and this Addendum and all obligations of the Company
thereunder and hereunder.

         5.       OTHER PROVISIONS EFFECTIVE. The parties expressly agree and
acknowledge that all provisions of the Agreement except those amended by this
Addendum shall remain unchanged and in full force and effect, including, without
limitation, the obligations of Executive pursuant to the covenants set forth in
Paragraphs 9.1, 9.2,9.3 ,9.4 and 9.7 of the Agreement.

         6.       GOVERNING LAW. This Addendum will be interpreted, construed
and governed according to the laws of the State of Tennessee.

         IN WITNESS WHEREOF, the parties have executed this Addendum as of the
date first above written.

                                              "COMPANY"
                                                PRIVATE BUSINESS, INC.

                                                By: /s/ William B. King
                                                   ----------------------------
                                                William B. King, Chairman

                                                "EXECUTIVE"

                                                /s/ Henry M. Baroco
                                                -------------------------------
                                                Henry M. Baroco

Dated:  4-15- ,2003
      -------

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