Document:

EXHIBIT 10.23

                             STOCKHOLDERS AGREEMENT

      This Stockholders Agreement (this "Agreement"), dated as of September 26,
2000, is made by and among Health Dream Team, S.C., a company organized under
the laws of Spain ("HDT"), United Surgical Partners International, Inc., a
Delaware corporation ("USPI"), and United Surgical Partners Europe, S.L., a
company organized under the laws of Spain ("USPE"). HDT, USPI and USPE are
sometimes collectively referred to as the "Parties" and individually referred to
as a "Party."

                             PRELIMINARY STATEMENTS

      A. As of the date hereof, USPI has invested $29,752,664 in the common
capital shares (the "USPE Shares") of USPE.

      B. HDT desires to purchase 1,000,000 shares of Class B Common Stock of
USPI, par value $.01 per share ("USPI-B Stock"), subject to the terms and
conditions of this Agreement.

      C. The Parties desire to set forth the terms upon which USPI may purchase
additional USPE Shares, the terms upon which HDT may acquire additional shares
of USPI-B Stock, and certain other rights and agreements among the Parties.

      D. Capitalized terms and mathematical formulas used in this Agreement are
defined or indexed in APPENDIX A and APPENDIX B, respectively, and are
incorporated herein by this reference for all purposes.

                             STATEMENT OF AGREEMENT

      NOW, THEREFORE, in consideration of the agreements and obligations set
forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to
be legally bound, hereby agree as follows:

                                    ARTICLE I

                                PURCHASE OF STOCK

      1.1. PURCHASE OF SHARES. At the Closing (as hereinafter defined) and upon
the terms and subject to the conditions of this Agreement, HDT shall purchase
1,000,000 shares (the "Shares") of the USPI-B Stock. The purchase price (the
"Purchase Price") for the Shares shall be $817,931, with $6,838 to be paid by
HDT to USPI by wire transfer of federal funds to an account of USPI's
designation, and the remaining amount to be paid by HDT's execution and delivery
to USPI of a promissory note in the amount of $811,093, pursuant to SECTION
3.2(A) hereof. At the Closing and upon the terms and subject to the conditions
of this Agreement, USPI shall issue and deliver to HDT a certificate
representing 1,000,000 shares of the USPI-B Stock.

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      1.2. CLOSING. Subject to the conditions contained in this Agreement, the
consummation of the transactions contemplated by SECTION 1.1 (the "Closing")
shall take place at the offices of USPI, 17103 Preston Road, Suite 200, Dallas,
Texas 75248, at 10:00 a.m. Dallas time on September 26, 2000, or at such later
date and/or such other location as the parties hereto may mutually designate in
writing.

      1.3. REPRESENTATIONS AND WARRANTIES OF HDT. HDT hereby represents and
warrants to USPI as follows:

         (a) ENFORCEABILITY. HDT is a company organized under the laws of Spain.
HDT has the requisite corporate power and authority to enter into this Agreement
and to consummate the transactions contemplated hereby. This Agreement has been
duly authorized, executed and delivered by HDT and constitutes a valid and
binding obligation of HDT, enforceable in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency or other similar laws or
equitable principles affecting the enforcement of creditors' rights generally.
No consents, including but not limited to governmental consents, are required
for HDT to enter into this Agreement and to perform its obligations hereunder.

         (b) CONFLICTS. The execution, delivery and performance of this
Agreement by HDT will not conflict with, result in any breach of or constitute a
default under any agreement, instrument, order, judgment, decree, law or
governmental regulation to which HDT is subject.

         (c) INVESTMENT REPRESENTATIONS.

             (i) HDT acknowledges and understands that the USPI-B Stock has not
been registered under the United States Securities Act of 1933, as amended, and
the rules and regulations thereunder (the "Securities Act"). HDT will purchase
and hold the USPI-B Stock for investment purposes only and not with a view to
the sale or distribution of any part thereof in violation of the Securities Act.

             (ii) HDT acknowledges that the USPI-B Stock and each certificate
issued in transfer thereof will bear a legend required under the Securities Act
and any applicable state securities law.

             (iii) HDT understands that an investment in the USPI-B Stock is an
illiquid investment, which means that (A) HDT must bear the economic risk of
investment in the USPI-B Stock for an indefinite period of time, since the
USPI-B Stock has not been registered under the Securities Act nor any state
securities laws and cannot be sold unless the USPI-B Stock is either
subsequently registered under the Securities Act and applicable state laws
(which is neither contemplated by nor required of USPI) or an exemption from
such registration is available, and (B) there is no established market for the
USPI-B Stock and that it is not anticipated that any public market for the
USPI-B Stock will develop in the near future.

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             (iv) HDT understands that the USPI-B Stock will automatically be
converted into other securities (as hereinafter defined, the "Conversion
Securities") under certain circumstances. HDT acknowledges (A) that it has no
control over such conversion and (B) that the Conversion Securities will
constitute an illiquid investment, which means that (1) HDT must bear the
economic risk of investment in the Conversion Securities for an indefinite
period of time, since the Conversion Securities have not been registered under
the Securities Act nor any state securities laws and cannot be sold unless the
Conversion Securities are either subsequently registered under the Securities
Act and applicable state laws (which is neither contemplated by nor required of
the issuers of such securities) or an exemption from such registration is
available, and (2) there is no established market for the Conversion Securities
and that it is not anticipated that any public market for the Conversion
Securities will develop in the near future.

      1.4. REPRESENTATIONS AND WARRANTIES OF USPI. USPI hereby represents and
warrants to HDT as follows:

         (a) ENFORCEABILITY. USPI is a corporation organized under the laws of
the State of Delaware. USPI has the requisite corporate power and authority to
enter into this Agreement and to consummate the transactions contemplated
hereby. This Agreement has been duly authorized, executed and delivered by USPI
and constitutes a valid and binding obligation of USPI, enforceable in
accordance with its terms, except as enforceability may be limited by
bankruptcy, insolvency or other similar laws or equitable principles affecting
the enforcement of creditors' rights generally.

         (b) CONFLICTS. The execution, delivery and performance of this
Agreement by USPI will not conflict with, result in any breach of or constitute
a default under any agreement, instrument, order, judgment, decree, law or
governmental regulation to which USPI is subject.

         (c) AUTHORIZED CAPITALIZATION. The authorized capital stock of USPI
consists of 31,200 shares of Series A Redeemable Preferred Stock, par value $.01
per share, of which 31,200 shares were issued and outstanding as of August 31,
2000; 2,716 shares of Series B Convertible Preferred Stock, par value $.01 per
share, of which no shares were issued and outstanding as of August 31, 2000;
20,000 shares of Series C Convertible Preferred Stock, par value $.01 per share,
of which 18,750 shares were issued and outstanding as of August 31, 2000;
30,000,000 shares of Class A Common Stock, par value $.01 per share ("USPI
A-Stock"), of which 23,519,534 shares were issued and outstanding as of August
31, 2000; 3,000,000 shares of Class B Common Stock, of which no shares were
issued and outstanding as of August 31, 2000; and 40,000,000 shares of Common
Stock, par value $.01 per share (the "USPI Common Stock"), of which 410,140
shares were issued and outstanding as of August 31, 2000. Other than as set
forth in the Certificate (hereinafter defined) or in SCHEDULE 1.4 (c), there are
no options, warrants, calls, subscriptions, convertible securities, or other
rights, agreements or commitments which obligate USPI to issue, transfer, sell,
redeem, repurchase or otherwise acquire any shares of its capital stock. Except
as set forth in SCHEDULE 1.4(C), no holder of securities of USPI has rights to
require the registration of securities of USPI.

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         (d) AUTHORIZATION OF USPI-B STOCK. The USPI-B Stock being issued to HDT
pursuant to this Agreement is duly authorized, validly issued, fully paid and
non-assessable.

      1.5. CONDITIONS OF OBLIGATIONS OF EACH PARTY TO EFFECT THE PURCHASE. The
obligations of each Party to effect the transactions contemplated hereby shall
be subject to the fulfillment at or prior to the Closing of the following
conditions unless waived in writing by each of the Parties hereto.

         (a) CERTIFICATE. The Amended and Restated Certificate of Incorporation
of USPI (the "Certificate"), in the form of EXHIBIT A hereto, shall have been
duly adopted and executed and filed with the Secretary of State of the State of
Delaware.

         (b) SHAREHOLDERS AGREEMENT. USPI and HDT shall have terminated that
certain Shareholders Agreement, dated June 1, 1998, relating to USPE.

                                   ARTICLE II

                         ADDITIONAL INVESTMENTS IN USPE

      2.1. USPI INVESTMENTS IN USPE. USPI may invest additional sums in USPE at
any time and from time to time in one or more transactions. USPI plans to invest
a minimum of $100 million (including monies previously invested) in USPE subject
to approval, on a case by case basis, by the Board of Directors of USPI,
assuming such projects have reasonable returns, which generally shall be deemed
to occur if projects are available with acquisition multiples ranging from 4 to
7 times first year EBITDA of the project. USPI may infuse additional equity to
purchase certain strategic acquisitions above the mentioned multiples when
approved on a case-by-case basis by the Board of Directors of USPI. Investments
in USPE will take the form of debt to the extent of USPE's borrowing limits
under its Societe Generale Credit Facility dated March 3, 2000. The amount of
any investment which exceeds the borrowing limit would be in the form of an
equity investment. Equity investments made after the date of this Agreement by
USPI in USPE Shares shall constitute "Qualified Investments" to the extent that
the aggregate amount of such equity investments made after the date of this
Agreement is less than or equal to $70,247,336. USPE agrees to accept all
Qualified Investments, and to issue additional USPE Shares to USPI in
consideration for such Qualified Investments. The purchase price per additional
USPE Share will be equal to the weighted average share price on the most recent
$1,000,000 of capital raised through the sale of shares of USPI Common Stock
(including USPI A-Stock or USPI B-Stock, but excluding USPI B-Stock issued
pursuant to SECTION 1.1) to third parties (provided there has been $1,000,000 of
sales of such common stock within the 12-month period preceding the Qualified
Investment). If there has not been $1,000,000 of sales within the 12-month
period preceding the date of the Qualified Investment, then the most recent
$1,000,000 of sales shall be used to determine the purchase price, unless either
USPI or HDT objects to using the most recent sales, then USPI and HDT shall
jointly select a third party appraiser to determine the fair market value
purchase price for the USPE Shares. If USPI has made $70,247,336 in Qualified
Investments or if HDT's USPI B-Stock has been converted into USPE Shares, then
any further investments made by USPI in USPE shall not constitute Qualified

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Investments, and such further investments may be on such terms and conditions,
including purchase price, as USPI and USPE shall determine.

      2.2. NOTICE OF QUALIFIED INVESTMENT. USPI shall give written notice of
each Qualified Investment to HDT within five days after the date of consummation
of such investment (each, a "Notice of Qualified Investment").

                                   ARTICLE III

                          CO-INVESTMENTS BY HDT IN USPI

      3.1. HDT CO-INVESTMENTS IN USPI. In connection with each Qualified
Investment, HDT may, but is not obligated to, invest additional sums in USPI by
purchasing additional shares of USPI-B Stock. Any such investments made after
the date of this Agreement by HDT in USPI-B Stock in compliance with this
Agreement shall constitute "HDT Co-Investments." HDT Co-Investments must be made
within 30 days after the date of the corresponding Qualified Investment. The
amount of each HDT Co-Investment shall be determined by HDT separately in its
discretion in connection with each separate Qualified Investment (subject in
each case to a minimum of 0% and a maximum of 8.0% of the Qualified Investment).
USPI agrees to accept all HDT Co-Investments, and to issue additional shares of
USPI-B Stock to HDT in consideration of such HDT Co-Investments at a purchase
price per share of USPI-B Stock equal to the purchase price per share paid for
the USPE Shares in the relevant Qualified Investment. USPI shall cooperate with
the reasonable due diligence requests of HDT by providing information and making
its management personnel available to answer questions. USPI shall provide HDT
with quarterly financial statements relating to its results of operations and
financial conditions. In connection with each HDT Co-Investment, HDT and USPI
agree to execute documentation containing representations, warranties and other
terms and conditions customary in this type of transaction (including
representations by HDT with respect to the matters addressed in SECTIONS 1.3(A),
B) AND (C), and representations by USPI with respect to the matters addressed in
SECTIONS 1.4(A), (B), (C) AND (D)), all of which must be acceptable to both
parties in their reasonable discretion. All HDT Co-Investments shall be made by
wire transfer to USPI of immediately available funds in dollars based upon the
Exchange Rate actually achieved by USPI in consummating the corresponding
Qualified Investment.

      3.2. LOANS TO FINANCE HDT INVESTMENTS.

         (a) On the date hereof, USPI shall make a recourse loan to HDT in the
amount of $811,093 to pay a portion of the Purchase Price pursuant to SECTION
1.1 hereof. Such loan shall be made pursuant to a Promissory Note substantially
in the form of EXHIBIT B attached hereto.

         (b) In connection with each HDT Co-Investment, USPI shall make a
recourse loan to HDT in order to finance a portion of such HDT Co-Investment. If
the HDT Co-Investment is less than or equal to 5.0% of the Qualified Investment,
then such loan shall be in the amount of up to 90% of the HDT Co-Investment. If
the HDT Co-Investment is greater than 5.0% (up to the

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maximum of 8.0% of the Qualified Investment), then the loan shall be in a
principal amount of up to the sum of (i) 90% of the amount of HDT Co-Investment
up to 5.0%, and (ii) 75% of the HDT Co-Investment greater than 5.0%. Each such
loan shall be made pursuant to a Promissory Note substantially in the form of
EXHIBIT B attached hereto.

         (c) All such loans made pursuant to paragraphs (a) and (b) above shall
be guaranteed by the shareholders of HDT pursuant to Guaranty Agreements
substantially in the form of EXHIBIT C attached hereto, and secured by a pledge
of the USPI-B Stock pursuant to the Pledge Agreement substantially in the form
of EXHIBIT D attached hereto.

                                   ARTICLE IV

                              TRANSFER RESTRICTIONS

      4.1. INITIAL TRANSFER RESTRICTION. From and after the date hereof until
June 1, 2002, HDT shall not sell, transfer or otherwise dispose of any shares of
USPI-B Stock or USPE Shares (if the USPI B-Stock has been converted into USPE
Shares), except (i) upon conversion in accordance with the provisions of the
Certificate, (ii) pursuant to buy backs in accordance with ARTICLE V, or (iii)
with the prior written consent of USPI, which consent may be withheld in USPI's
sole and absolute discretion.

      4.2. RIGHT OF FIRST REFUSAL. After June 1, 2002, HDT may sell for cash all
or any portion of the USPI-B Stock or USPE Shares (if the USPI B-Stock has been
converted into USPE Shares) that it then holds pursuant to a bona fide offer
from an unrelated third party, subject to HDT's compliance with the following
provisions (provided that this SECTION 4.2 shall not apply to conversion of such
USPI-B Stock in accordance with the provisions of the Certificate or buy backs
in accordance with ARTICLE V);

         (a) HDT shall promptly deliver a notice of intention to sell (the "Sale
Notice") to USPI setting forth in reasonable detail the USPI-B Stock or USPE
Shares to be sold (the "Subject Securities"), attaching a photocopy of the bona
fide offer extended by the potential purchaser, which must be binding, and
indicating the price and the remaining conditions of the offer, the name of the
potential purchaser, as well as its ultimate controlling shareholder (to HDT's
knowledge).

         (b) Upon receipt of such Sale Notice, USPI shall have the first right
and option to elect to purchase at the price and on the terms stated in the Sale
Notice, all or part of the Subject Securities. In the event USPI shall elect to
purchase all or part of the Subject Securities, USPI shall so notify HDT in
writing (the "Election Notice") within 30 days after receipt by USPI of the Sale
Notice (the "Option Period").

         (c) Upon receipt of the Election Notice, HDT shall sell to USPI the
Subject Securities subject to such Election Notice at a price and on the terms
stated in the Sale Notice. The closing of such sale shall take place at the
offices of USPI no later than 30 days following the expiration of the

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Option Period (or upon the expiration of such longer period required by law), or
at such other place or earlier date as may be mutually agreed by USPI and HDT.
At such closing, HDT shall deliver a certificate or certificates for the Subject
Securities to be sold, accompanied by stock powers duly authorized in blank,
against receipt of the purchase price therefor by wire transfer of immediately
available funds.

         (d) Any Subject Securities not sold pursuant to the provisions of this
SECTION 4.2 may be sold to the person identified in the related Sale Notice for
a period of 90 days following the expiration of the Option Period upon the terms
and conditions set forth in the Sale Notice. Any Subject Securities not sold to
such person on such terms during such 90-day period shall again be subject to
the restrictions contained in this SECTION 4.2.

      4.3. RESTRICTIVE LEGEND. Each certificate representing USPI-B Stock or
USPE Shares shall conspicuously bear the following legend until such time as the
USPI-B Stock or USPE Shares, as the case may be, represented thereby are no
longer subject to the provisions hereof

      THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD,
      TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS THEY HAVE BEEN REGISTERED
      UNDER THAT ACT OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. THE RIGHTS
      OF THE HOLDER OF THE SHARES EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO
      THE TERMS AND CONDITIONS OF A STOCKHOLDERS AGREEMENT, DATED AS OF
      SEPTEMBER 26, 2000, AMONG THE ISSUER AND THE OTHER PARTIES THERETO, AS THE
      SAME MAY BE AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM
      TIME TO TIME. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT NO COST BY
      WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS CERTIFICATE TO THE
      ISSUER.

                                    ARTICLE V

                                 BUY BACK RIGHTS

      If at any time prior to the occurrence of a Triggering Event (i) any
shareholder of HDT who provides services to USPE pursuant to a management
contract between HDT and USPE shall cease to provide services to USPE due to
either the shareholder's voluntary termination of employment or such person's
dismissal declared for just cause in accordance with Article 54 of the Spanish
Workers Statute, and if USPI and HDT do not agree on a replacement who shall
become a shareholder of HDT within 60 days after such discontinuation of
services, or (ii) any of HDT's capital shares shall ultimately be owned by a
person or entity other than a current shareholder of HDT or someone providing
services to USPE under a management contract (whether by judicial or
administrative executory proceeding, realization of a right of pledge or
otherwise), then, and in each such case, USPI shall have an option to purchase
that number of the shares of USPI-B Stock held

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by HDT determined in accordance with the formula B-1 set forth in APPENDIX B at
a purchase price equal (on an "as converted" basis, as if USPI B-Stock was
converted into USPI Common Stock) to the weighted average share price on the
most recent $1,000,000 of capital raised through the sale of shares of USPI
Common Stock (including USPI A-Stock or USPI B-Stock, but excluding USPI B-Stock
issued pursuant to SECTION 1.1) to third parties (provided there has been
$1,000,000 of sales of such common stock within the 12-month period preceding
the date of exercise of the option). If there has not been $1,000,000 of sales
of such common stock within the 12-month period preceding the date of the
exercise of the option, then the most recent $1,000,000 of sales shall be used
to determine the purchase price, unless either USPI or HDT objects to using the
most recent sales, then USPI and HDT shall jointly select a third party
appraiser to determine the fair market value exercise price for the USPI
B-Stock. USPI shall notify HDT of its election to exercise the option within 90
days after USPI receives notice of such discontinuation of services or transfer
of ownership, and USPI shall consummate the option exercise within 30 days after
providing notification to HDT. Notwithstanding the foregoing, USPI shall not
have the option to purchase up to 20% of the outstanding USPI B-Stock which
would otherwise be subject to the option hereinabove provided if the other
shareholders of HDT who provide services to USPE pursuant to a management
contract acquire the underlying shares of HDT which give rise to the repurchase
option.

                                   ARTICLE VI

                                  EXIT PAYMENT

      6.1. EXIT PAYMENT. (a) Subject to the provisions of SECTION 6.1(B), an IPO
of either USPE or USPI has not occurred prior to the termination hereof, USPE
shall pay HDT an exit payment (the "Exit Payment") calculated in accordance with
SECTION 6.2 upon the occurrence of a Triggering Event at USPE (other than an
IPO).

         (b) If (i) HDT has converted its USPI B-Stock into USPE Shares prior to
the occurrence of an IPO of either USPE or USPI, and (ii) an IPO of USPE has not
occurred prior to the termination hereof, USPE shall pay HDT the Exit Payment
calculated in accordance with SECTION 6.2 upon the occurrence of a Triggering
Event at USPE (other than an IPO at USPE).

      6.2. CALCULATION OF EXIT PAYMENT.

         (a) If the total investment in USPE Shares made by USPI and HDT both
prior to and after the date of this Agreement (the "Total Investment") is equal
to or exceeds $100 million, the Exit Payment shall be calculated according to
the following table, as modified by subsection (c) below:

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-------------------------------------------------------------------------------
                USPE'S                               EXIT PAYMENT
              ANNUAL IRR                             ($ million)
-------------------------------------------------------------------------------
                 <20%                                     0
-------------------------------------------------------------------------------
                20-30%                                    2
-------------------------------------------------------------------------------
                30-40%                                    4
-------------------------------------------------------------------------------
                40-50%                                    6
-------------------------------------------------------------------------------
                50-55%                                    8
-------------------------------------------------------------------------------
                 >55%                                10 (maximum)
-------------------------------------------------------------------------------

         (b) If the Total Investment is less than $100 million, the Exit Payment
shall be calculated according to the table set forth above but such amount shall
be proportionately reduced by the ratio of the Total Investment to $100 million,
and thereafter reduced as specified in subsection (c) below.

         (c) The total amount of the Exit Payment to be paid will be the amount
resulting from subsection (a) or (b) above, as appropriate, minus an amount
calculated as follows: (1) $1,760,811 plus (2) with respect to each Qualified
Investment, the amount of such Qualified Investment multiplied by a percentage
equal to 7%.

                                   ARTICLE VII

                            PROVISIONS REGARDING HDT

      7.1. HDT SHAREHOLDERS AGREEMENT. HDT shall cause all of its present and
future shareholders (the "HDT Shareholders") to enter into and be bound by a
shareholders agreement (the "HDT Shareholders Agreement") reasonably acceptable
to USPI which limits transfers of HDT's capital shares. The provisions of the
HDT Shareholders Agreement dealing with transfers of HDT's capital shares may
not be amended without USPI's written consent, which shall not be unreasonably
withheld.

      7.2. HDT CHANGE OF CONTROL. If an HDT Change of Control shall occur, (i)
HDT's rights under SECTION 3.1 shall immediately terminate, (ii) the obligations
of USPI and USPE under SECTION 2.1 shall immediately terminate, and (iii) any
investments made by USPI in USPE after the date of such HDT Change of Control
(A) shall not constitute Qualified Investments and (B) may be made on such terms
and conditions, including purchase price, as USPI and USPE shall determine.

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                                  ARTICLE VIII

                           SALE OF USPE SHARES BY USPI

      If at any time USPI intends to transfer, sell or dispose in any way of its
investment in USPE to an Unrelated Third Party in such a way as to cause a
Triggering Event at USPE, HDT shall have the right to sell all or part of the
USPE Shares that HDT would receive (or, as of such date, has received) upon
conversion of the USPI-B Stock pursuant to the provisions of the Certificate in
the economic conditions stated in the final sentence of this paragraph, in which
case USPI shall not proceed with the sale of its USPE Shares until and unless
the potential purchaser of its USPE Shares has effectively extended a binding
offer to HDT, as well, under the same terms and conditions as those offered to
USPI. To this effect, when HDT receives a notification in which it is informed
of USPI's intention to sell, transfer or dispose in any other way of its
investment in USPE to an Unrelated Third Party, HDT shall communicate its
intention of selling the USPE Shares it would receive upon conversion to the
acquiror within a maximum period of 15 days after such notification. The price
per share at which HDT shall exercise its right to sell USPE Shares will be the
price per share offered by the buyer to USPI, and payment and other conditions
shall be the same as those offered to USPI.

                                   ARTICLE IX

                                  MISCELLANEOUS

      9.1. TERMINATION. This Agreement shall terminate upon the earlier to occur
of (i) (A) if HDT has not converted its shares of USPI B-Stock into USPE Shares
as of the time a USPI or USPE Triggering Event occurs, at the time of the
occurrence of a USPI or USPE Triggering Event, or (B) if HDT has converted its
shares of USPI B-Stock into USPE Shares prior to the time a USPI or USPE
Triggering Event occurs, at the time of the occurrence of a USPE Triggering
Event, or (ii) the mutual agreement of the Parties.

      9.2 COUNTERPARTS; FAX SIGNATURES. This Agreement may be executed in any
number of counterparts, each of which will be deemed to be an original
agreement, but all of which will constitute one and the same agreement. Any
Party may execute and deliver this Agreement by an executed signature page
transmitted by a facsimile machine. If a Party transmits its signature page by a
facsimile machine, such Party will promptly thereafter deliver an originally
executed signature page to the other Parties, provided that any failure to
deliver such an originally executed signature page will not affect the validity,
legality, or enforceability of this Agreement.

      9.3 ENTIRE AGREEMENT. This Agreement constitutes the entire agreement and
understanding between the Parties and supersedes all prior agreements and
understandings, both written and oral, and all contemporaneous oral agreements
and understandings with respect to the subject matter of this Agreement,
including, without limitation, that certain Shareholders Agreement, dated June
1, 1998, between USPI and HDT.

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      9.4 GOVERNING LAW. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH THE LAWS OF THE KINGDOM OF SPAIN REGARDLESS OF THE
LAWS THAT MIGHT OTHERWISE GOVERN UNDER CONFLICTS OR CHOICE OF LAW PRINCIPLES.

      9.5 NO ASSIGNMENT. No Party may assign its benefits or delegate its duties
under this Agreement without the prior written consent of the other Parties. Any
attempted assignment or delegation without such prior written consent shall be
void.

      9.6 NO THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit
of the Parties and no other Person will have any right, interest, or claim under
this Agreement.

      9.7 NOTICES. Unless otherwise provided elsewhere in this Agreement, all
claims, consents, designations, notices, waivers, and other communications in
connection with this Agreement shall be in writing. Such claims, consents,
designations, notices, waivers, and other communications will be considered
received (a) on the day of actual delivery when transmitted by hand delivery,
(b) on the day of actual transmittal when transmitted by facsimile with written
confirmation of such transmittal, or (c) two business days following actual
transmittal when transmitted by an internationally recognized courier (such as
UPS or FedEx); in each case when transmitted to a Party at its address or
location set forth below (or to such other address to which such Party has
notified the other Parties in accordance with this Section to send such claims,
consents, designations, notices, waivers, and other communications):

USPI:           United Surgical Partners International, Inc.
                17103 Preston Road, Suite 200
                Dallas, Texas 75248
                Attention: Donald E. Steen
                Facsimile: (972) 713-3550

Copy to:        Greenebaum Doll & McDonald PLLC
                700 Two American Center
                3102 West End Avenue
                Nashville, Tennessee 37203
                Attention: Stephen T. Braun, Esq.
                Facsimile: (615) 760-7300

USPE:           United Surgical Partners Europe, S.L.
                c/o United Surgical Partners International, Inc.
                17103 Preston Road, Suite 200
                Dallas, Texas 75248
                Attention: Donald E. Steen
                Facsimile: (972) 713 3550

                                       11
<PAGE>
HDT:            Health Dream Team, S.C.
                Paseo de la Castellana, numero 40 bis, 4a planta
                28046 Madrid, Spain
                Attention: Gabriel Masfurroll
                Facsimile: 341 91 577 3385

      9.8 REPRESENTATION BY LEGAL COUNSEL. Each Party is a sophisticated person
that was advised by experienced legal counsel and other advisors in the
negotiation and preparation of this Agreement.

      9.9 SEVERABILITY. Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction will not invalidate the remaining provisions
of this Agreement or affect the validity or enforceability of such provision in
any other jurisdiction. In addition, any such prohibited or unenforceable
provision will be given effect to the extent possible in the jurisdiction where
such provision is prohibited or unenforceable.

      9.10 SUCCESSORS. This Agreement will be binding upon and will inure to the
benefit of each Party and its heirs, legal representatives, permitted assigns,
and permitted successors, provided that this Section will not permit the
assignment or other transfer of this Agreement, whether by operation of law, or
otherwise, if such assignment or other transfer is not otherwise permitted under
this Agreement.

      9.11 TIME OF THE ESSENCE. Time is of the essence in the performance of
this Agreement and all dates and periods specified in this Agreement.

      9.12 WAIVER. No provision of this Agreement will be considered waived
unless such waiver is in writing and signed by the Party that benefits from the
enforcement of such provision. No waiver of any provision in this Agreement,
however, will be deemed a waiver of a subsequent breach of such provision or a
waiver of a similar provision. In addition, a waiver of any breach or a failure
to enforce any term or condition of this Agreement will not in any way affect,
limit, or waive a Party's rights under this Agreement at any time to enforce
strict compliance thereafter with every term and condition of this Agreement.

      9.13 LANGUAGE. This Agreement has been signed in both English and Spanish
language versions. Both versions are valid, but in the event of any
inconsistency or ambiguity, the English version shall prevail.

      9.14 EUROPEAN HOLDING COMPANY. The Parties acknowledge that USPI may
choose to create an intermediate holding company that would be a wholly-owned
subsidiary of USPI and the holder of some or all of USPI's investments in USPE
("EuroHoldCo"). If USPI determines to create EuroHoldCo, the Parties agree to
execute and deliver such further agreements and instruments, including, without
limitation, amendments to this Agreement, as are necessary and appropriate in
order to permit the creation of EuroHoldCo, and, at the option of USPI, the
transfer of some or all

                                       12
<PAGE>
of USPI's investment in USPE to EuroHoldCo, while preserving in substance the
relative rights and benefits (including tax consequences) of the Parties
provided for in this Agreement. Without limiting the generality of the
foregoing, the Parties contemplate that the creation of EuroHoldCo would require
an amendment and restatement of this Agreement addressing, among other items,
the following issues: (i) the modification of SECTIONS 2.1 AND 2.2 to provide
for investments by EuroholdCo in USPE, (ii) the modification of the definition
of the term "Triggering Event" to include events occurring at or with respect to
EuroHoldCo, (iii) the creation of a definition of the "EuroHoldCo Conversion
Ratio", which would be similar in structure to the USPI Conversion Ratio, and
(iv) the inclusion of an IPO at EuroHoldCo in the first clause of SECTION 6.1.

      9.15 JUDGMENT CURRENCY. This is an international loan transaction in which
the specification of Spanish pesetas or U.S. dollars is of the essence, and the
stipulated currency shall in each instance be the currency of account and
payment in all instances. A payment obligation in one currency hereunder (the
"Original Currency") shall not be discharged by an amount paid in another
currency ("Other Currency"), whether pursuant to any judgment expressed in or
converted into the Other Currency or otherwise except to the extent that such
tender or recovery results in the effective receipt by the payee of the full
amount of the Original Currency payable to it under this Agreement.

      9.16 SURVIVAL OF REPRESENTATIONS AND WARRANTIES. All representations and
warranties contained herein shall survive the execution and delivery of this
Agreement and the Closing, regardless of any investigation at any time made by
or on behalf of any Party hereto.

      9.17 USPE OBLIGATIONS. Upon completion of the transaction contemplated by
SECTION 1.1 hereof, USPE shall become a wholly-owned subsidiary of USPI. USPI
has the legal capacity to cause, and it shall cause, USPE to meet all of its
obligations under this Agreement. With respect to USPE Shares issuable upon
conversion of the USPI B-Stock, USPI undertakes to transfer the applicable
number of USPI's USPE Shares to the holder of such converted USPI B-Stock or,
alternatively, to pass or cause to be passed a shareholders' resolution at USPE
in order to agree to a share capital increase in USPE to provide the applicable
number of USPE Shares which shall be subscribed by the holder of the converted
USPI B-Stock by means of a contribution in kind of such holder's converted USPI
B-Stock.

      9.18 TAX RESTRUCTURING. In the event HDT elects to convert the USPI
B-Stock into USPE Shares, then the Parties agree to consider structuring the
conversion as a redemption of HDT's USPI B-Stock in exchange for a market rate
promissory note of USPI. The USPI promissory note would be exchanged by HDT for
the USPE Shares. The foregoing transactions must be structured in such a manner
as to preserve in substance the relative rights and benefits (including tax
consequences) of the Parties provided for in this Agreement.

                                                          SIGNATURE PAGE FOLLOWS

                                       13
<PAGE>
      IN WITNESS WHEREOF, the Parties have executed this Agreement as of the
date first above written.

                                           HEALTH DREAM TEAM, S.C.

                                           By: /s/ GABRIEL MASFURROLL
                                           Name:   GABRIEL MASFURROLL
                                           Title:  CHAIRMAN

                                           UNITED SURGICAL PARTNERS
                                           INTERNATIONAL, INC.

                                           By: /s/ DONALD E. STEEN
                                           Name:   DONALD E. STEEN
                                           Title:  CHAIRMAN

                                           UNITED SURGICAL PARTNERS
                                           EUROPE, S.L.

                                           By:/s/ GABRIEL MASFURROLL
                                           Name:  GABRIEL MASFURROLL
                                           Title: CEO

                                       14<PAGE>   1

                        VOICESTREAM WIRELESS CORPORATION
                2000 EXECUTIVE RESTRICTED STOCK PLAN, AS AMENDED

                      TERM: MAY 3, 1999 TO APRIL 30, 2009

1.      PURPOSE.

        This Executive Restricted Stock Plan (this "Plan") allows VoiceStream
Wireless Corporation (the "Company") to grant stock bonuses or sell stock to its
key officers, and is intended to promote the interests of the Company and its
shareholders by aligning the interests of the Company executives with Company
shareholders. The stock to be issued pursuant to this Plan will be Restricted
Stock, as defined in 3 below, and as such will be subject to certain
restrictions, described herein, that are imposed to promote the purposes hereof.

2.      ADOPTION AND ADMINISTRATION OF PLAN.

        This Plan shall become effective as of May 3, 1999 and shall remain in
effect until April 30, 2009 unless sooner terminated as herein provided.

        This Plan shall be administered by the Company's Board of Directors (the
"Board"), provided that the Board may delegate its administrative
responsibilities hereunder to a committee of not less than three directors who
shall administer this Plan in the name of the Board (the "Committee"). As used
hereafter herein, the term "Committee" shall refer to the Board if no Committee
then exists or is then designated. So long as the Company is a reporting company
under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), each
member of the Committee who participates in administration must be a
"Non-Employee Director" as that term is defined in Rule 16b(3) promulgated by
the Securities and Exchange Commission pursuant to the Exchange Act. All members
of the Committee shall also be "outside directors" within the meaning of section
162(m) ("Section 162(m)") of the Internal Revenue Code of 1986, as amended. The
Committee shall have full power and authority to (i) administer and interpret
this Plan, (ii) make all grants, offers, bonuses, and awards hereunder and (iii)
adopt, from time to time, such guidelines, rules, regulations, agreements, and
instruments for the administration of this Plan as the Committee deems necessary
or advisable. Such powers include, but are not limited to (subject to the
specific limitations described herein), authority to determine the employees to
be issued Restricted Stock under this Plan, to determine the size, type, and
applicable restrictions, performance criteria, terms and conditions of issuances
to be made to such employees, to determine a time when issuances will occur, and
to authorize issuances to eligible employees. The Committee shall have absolute
discretion in any determination of whether any particular performance goal in
any grant has been achieved or restriction has lapsed. The Committee shall
prepare guidelines for notification to holders of Restricted Stock with
performance based restrictions as to whether any such performance criteria have
been met, and upon determination that the criteria have been met the Committee
shall have the obligation to deliver written confirmation of the same to each
holder of Restricted Stock within 30 days following achievement of the
performance goal. The Committee shall also establish a mechanism to allow the
removal of restrictive legends promptly after the achievement of the applicable
performance criteria.

        The Committee's interpretations of this Plan, and all actions taken and
determinations made by the Committee concerning any matter arising under or with
respect to this Plan or any issuances of Restricted Stock pursuant to this Plan,
shall be final, binding, and conclusive on all interested parties, including the
Company, its shareholders, and all former, present, and future employees of the
Company. At such time as the Company is not subject to the reporting
requirements of the Exchange Act, the Committee may delegate some or all of its
power and authority hereunder to the Chairman or Chief

<PAGE>   2

Executive Officer of the Company, such delegation to be subject to such terms
and conditions as the Committee in its discretion shall determine. Such
delegation of authority may be contained in guidelines, rules, and regulations
adopted by the Board from time to time with respect to this Plan. The Committee
may, as to questions of accounting, rely conclusively upon any determinations
made by independent public accountants of the Company.

3.      STOCK SUBJECT TO PLAN.

        There is hereby established a reserve (the "Reserve"), out of the
Company's authorized but unissued stock, of 500,000 shares of the Company's
Common Stock, no par value per share (the "Restricted Stock"), for issuance
under this Plan. As grants, offers, bonuses and awards are made, the Reserve
shall be reduced by the number of shares of Restricted Stock issued. Any shares
of Restricted Stock that are forfeited by the holder shall be added back to the
Reserve. Any shares with respect to which restrictions have lapsed shall not be
eligible to be added back to the Reserve. If the shares of Common Stock of the
Company should, as a result of a stock split, stock dividend, combination of
shares, or any other change or exchange for other securities by
reclassification, reorganization, redesignation, merger, consolidation,
recapitalization or otherwise, be increased or decreased or changed into, or
exchanged for, a different number or kind of shares of stock or other securities
of the Company or of another corporation, the number of shares of Restricted
Stock then remaining in the Reserve shall be appropriately adjusted to reflect
such action. If any such adjustment shall result in a fractional share, such
fraction shall be disregarded. Upon the issuance of shares of Restricted Stock
pursuant to this Plan, the Reserve will be reduced by the number of shares
issued. Notwithstanding any other provision hereof, no single employee may at
any single time receive a grant, offer, bonus, or award of Restricted Stock in
excess of 33.33 percent of the shares of Restricted Stock remaining at such time
in the Reserve.

4.      ELIGIBILITY.

        The Committee will designate, from time to time, key executives of the
Company or any of its subsidiaries, parents or affiliates (including officers
and directors of the Company), engaged in activities which further the Company's
objectives, who will be eligible to obtain shares under this Plan and the number
of shares of Restricted Stock of the Company to be issued to each. In selecting
the persons to whom offers to obtain shares hereunder will be made and in
determining the number of shares to be offered, the Committee will consider the
position and responsibilities of such persons, the value of their services to
the Company or its subsidiaries, and such other factors as the Committee deems
pertinent.

5.      RIGHTS TO RESTRICTED STOCK.

        (a) Restricted Stock Offers. After the Committee has determined to offer
a person the right to obtain Restricted Stock under this Plan, it will advise
the offeree in writing of the offer's terms, including the number of shares
which such person will be entitled to obtain, the price per share, if any, and
any other terms, conditions, and restrictions relating thereto (the "Restricted
Stock Offer"). This notice will also provide that such person has 15 days from
the date of the Restricted Stock Offer to accept the offer in the manner set
forth in the Restricted Stock Offer. The form by which the Restricted Stock
Offer will be established by the Committee, and the same may be amended from
time-to-time at the discretion of the Committee. The Committee may also, in the
exercise of its discretion, extend the Restricted Stock Offer's acceptance or
effective term. Subject to this Plan's express provisions, the Committee may
make any such Restricted Stock Offer subject to any terms and conditions it
establishes, and the Restricted Stock Offers made to different persons, or to
the same person at different times, may be subject to terms, conditions and
restrictions which differ from each other.

        (b) Special Performance Awards. In connection with any Restricted Stock
Offer to any one of the five most highly compensated officers of the Company, in
order to comply with limitations imposed by

                                       2
<PAGE>   3

Section 162(m) while retaining the flexibility to ensure that executive
compensation is tied to performance and reward executives consistent with the
Company's compensation philosophy, all or part of the shares covered by a
Restricted Stock Offer may be designated as a Special Performance Award, as to
which the restrictions on shares so designated shall only be removed and the
shares shall only become freely tradable by the holder thereof if certain
pre-established performance goals are met during a specified performance period
as set by the Committee. Restrictions on shares subject to a Special Performance
Award granted to any individual whose compensation from the company is covered
by Section 162(m) of the Code shall be removed only after the Committee
certifies in writing that the performance goals have been met.

        The Committee shall establish Performance Periods of any duration or
with respect to any criteria, which may overlap and which may differ for each
executive, but shall not exceed ten years. Prior to the end of 90 days following
the commencement of each Performance Period, the Committee shall establish
specific and objective performance goals for the Performance Period and a
specific formula in connection with such performance goals for the removal of
restrictions. The performance goals shall be based on one of more of the
following performance measures, or other specific measures determined from time
to time by the Committee: growth; financial results; and quality, productivity
and efficiency.

        (i) Growth shall be measured in terms of increases one or more of the
following: number of license areas served, number of subscribers, and revenue.
Customer growth shall be measured in terms of one or more of the following:
number of new customers; number of net new customers; revenue per new customer;
and level of customer churn.

        (ii) Financial results shall be measured in terms of one or more of the
following relating to the Company as a whole or a particular operating unit:
operating cash flow; free cash flow; cash operating income (Earnings Before
Interest, Taxes, Depreciation and Amortization ("EBITDA")); net income; earnings
per share; total stockholder return; and relative stockholder return.

        (iii) Quality, productivity and efficiency shall be measured in terms of
one or more of the following: customer and employee satisfaction; quantitative
measures of system and customer service performance; and the cost of acquiring
and cost of serving customers.

6.      TERMS OF RESTRICTED STOCK OFFERS.

        (a) Price. The Committee will determine if there is to be a purchase
price of the shares being offered under this Plan, and if so shall set the
price. If there is no purchase price, the Restricted Stock Offer will be treated
as a Restricted Stock bonus. Whether or not there is a purchase price, the
offeree must accept the offer in a timely manner to receive the offered
Restricted Stock. The purchase price, if any, must be paid in full, in cash or
certified or bank check, at the Company's principal office before the offer
expires, for the Restricted Stock Offer's acceptance to be effective. The date
upon which the Restricted Stock Offer is finally accepted and the purchase
price, if any, is paid is sometimes hereinafter called the "Closing Date."

        (b) Restrictions. By accepting the Restricted Stock under this Plan
being offered to him or her, an offeree agrees and consents to all terms,
conditions, and restrictions contained in the Restricted Stock Offer and to the
following (unless the Restricted Stock Offer by its terms indicates the
following shall not apply):

               (i) Any transfer or purported transfer made by a purchaser of
shares under this Plan, except at the times and in the manner specified herein
and in the Restricted Stock Offer, will be null and void and the Company shall
not recognize or give effect to such transfer on its books and records or

                                       3
<PAGE>   4

recognize the person or persons to whom such proposed transfer has been made as
the legal or beneficial holder of those shares.

               (ii) Notwithstanding anything in this Plan to the contrary, upon
the death of a holder of shares of Restricted Stock subject to this Plan, such
shares may be conveyed by will or by the laws of descent and distribution,
subject to the provisions of this Plan and to applicable provisions of any other
Agreement by which the Company may be bound. Any successor in interest to the
holder in such event may not further convey, transfer, encumber or otherwise
dispose of such shares except as provided herein.

               (iii) Certificates representing shares which are subject to this
Plan will bear the following legend, in addition to such other legends as
counsel to the Company may deem appropriate:

                               RESTRICTED SHARES

               "The shares represented by this certificate are
               restricted and subject to (i) all terms, conditions,
               and restrictions of the VoiceStream Wireless
               Corporation Executive Restricted Stock Plan, and (ii)
               the terms of the Restricted Stock Offer pursuant to
               which the shares represented hereby were originally
               issued, copies of which are on file and available for
               inspection during normal business hours at the
               principal offices of VoiceStream Wireless Corporation."

7.      EVENTS OF RESALE.

        If any of the following events ("Events of Resale") occurs or, having
occurred, continues in effect, on or before the date all restrictions in this
Plan or in the Restricted Stock Offer have lapsed with respect to particular
shares of Restricted Stock, the holder will sell to the Company and the Company
will purchase from the holder all the Restricted Stock obtained by the holder
under this Plan that remains subject to such restrictions. With respect to any
shares of Restricted Stock to which the restrictions herein or in the Restricted
Stock Offer no longer apply, this provision shall not apply. The price per share
in the case of Restricted Stock subject hereto shall equal the original price
paid by the holder for such shares, and if there is no purchase price, then
without payment therefore:

        (a) if the employment of the offeree by the Company or its subsidiaries
is terminated other than by reason of the offeree's death or permanent and total
disability (as defined in the Company's 1999 Management Incentive Stock Option
Plan);

        (b) if an offeree who is not an employee, having been nominated as a
director of the Company, fails or refuses to stand for election or, if elected,
to serve as such or resigns as a director; or

        (c) if the offeree receives shares of Restricted Stock subject to any
other Event of Resale in the Restricted Stock Offer, and such Event of Resale
Occurs.

        Within 30 days after such an occurrence, the Company, by notice to the
holder, will state that an Event of Resale has occurred and will specify a date
not less than five, and not more than ten, days from the date of such notice to
consummate the purchase and sale of such shares at the Company's principal
office. At the closing, the holder will deliver to the Company certificates
representing all of the shares purchased hereunder, and duly endorsed with all
necessary transfer stamps affixed. Upon the receipt of such share certificates,
the Company will deliver to the holder a check in the amount of the purchase
price, if any. If the holder fails to deliver the share certificates to the
Company at the closing, the Company may deposit the purchase price, if any, with
the Secretary of the Company, and thereafter the

                                       4
<PAGE>   5

shares will be deemed to have been transferred to the Company and the holder,
despite the holder's failure to deliver the share certificates, will have no
further rights derived from such shares as a stockholder of the Company. In this
event, the Secretary of the Company will continue to hold the purchase price, if
any, for such shares and will make payment thereof, without interest, upon
delivery of the share certificates to the Company, accompanied by the
appropriate endorsements.

8.      EXPENSES.

        The Company will pay all expenses and costs in connection with the
administration of this Plan.

9.      NO PRIOR RIGHT OF OFFER.

        Nothing in this Plan will be deemed to give any director, officer, or
employee, or such individual's legal representatives or assigns, or any other
person or entity claiming under or through such individual, any contractual or
other right to participate in the benefits of this Plan.

10.     INDEMNIFICATION OF THE COMMITTEE.

        In addition to such other rights or indemnification as they may have,
the Company will indemnify members of the Committee against all costs and
expenses reasonably incurred by them or any of them in connection with: any
action, suit, or proceeding to which they or any of them may be a party by
reason of any action taken, or failure to act, under or in connection with this
Plan or any award granted pursuant thereto and against all amounts paid by them
in settlement thereof (provided such settlement is approved by legal counsel
selected by the Company) or paid by them in satisfaction of a judgment in any
action, suit or proceeding; provided that upon institution of any such action,
suit, or proceeding, the person desiring indemnification gives the Company an
opportunity, at its own expense, to handle and defend the same.

11.     AMENDMENT AND TERMINATION OF PLAN; AMENDMENT OF TERMS OF GRANTS

        The Board may at any time terminate or extend this Plan, or modify this
Plan as it deems advisable; provided, that any amendment or extension required
by Section 162(m) to be approved by the Shareholders shall be effective subject
to such approval within twelve months of adoption by the Board. No termination
or amendment of this Plan shall, without the consent of any person affected
thereby, modify or in any way affect any right or obligation created prior to
such termination or amendment. The Board may amend the terms and conditions of
outstanding Restricted Stock Offers or Restricted Stock, provided, however, that
(i) no such amendment would be adverse to the holders thereof, and (ii) the
amended terms would be permitted under this Plan.

        Subject to the provisions of Section 162(m) as applicable, in the event
of (i) any change in the business or condition of the Company, including any
change in connection with mergers, reorganizations, separations, or other
transactions to which Section 424(a) of the Code would apply if applicable, or
(ii) in the event of any changed circumstances in the duties and/or
responsibilities of any employee holding Restricted Stock when restrictions are
specific to performance of duties or responsibilities that have changed, the
Committee shall have discretion as to adjustment or removal of any or all
restrictions of any Restricted Stock, and in the event thereof any adjustments
by the Committee of restrictions shall attempt to as closely as possible
establish restrictions that have the same intent and effect as the original
performance based restrictions.

12.     LIABILITY OF COMPANY.

        The Company's liability under this Plan and any sale made hereunder is
limited to the obligations set forth with respect to such sale and nothing in
this Plan will be construed to impose any liability on the

                                       5
<PAGE>   6

Company in favor of the purchaser with respect to any loss, cost, or expense
which the purchaser may incur in connection with, or arising out of, any
transaction in connection therewith.

13.     NO AGREEMENT TO EMPLOY.

        Nothing in this Plan will be construed to constitute, or evidence, an
agreement or understanding, express or implied, by the Company to employ or
retain the purchaser for any specific period of time.

14.     PURCHASE AGREEMENT.

        Any Restricted Stock Offer made hereunder, as accepted, may be embodied
in a Restricted Stock Agreement containing such terms and conditions, not
inconsistent with this Plan, as will, in the opinion of the Committee and
counsel for the Company, be necessary or desirable to protect the Company. For
all purposes thereafter, the Restricted Stock Agreement will be the Restricted
Stock Offer as referenced herein.

15.     FEDERAL INCOME TAX CONSEQUENCES.

        The federal income tax consequences of a person's acquisition of
Restricted Stock pursuant to this Plan are complex and subject to change. The
following discussion, which has been prepared by the law firm of Preston Gates &
Ellis LLP, counsel to the Company, is only a summary of the general rules
applicable at the time of adoption of this Plan by the Board to the acquisition
of stock subject to restrictions that are linked to the continued performance of
services. It is based on the Internal Revenue Code of 1986, as amended (the
"Code), the Regulations promulgated thereunder, and judicial and administrative
interpretations thereof, all as currently in effect. These laws, Regulations and
interpretations are subject to change, potentially retroactively. Further, a
person's particular situation may be such that some variation of these general
rules would apply. ACCORDINGLY, IT IS STRONGLY RECOMMENDED THAT EACH PERSON WHO
MAY RECEIVE RESTRICTED STOCK PURSUANT TO THIS PLAN CONSULT WITH HIS OR HER OWN
TAX ADVISOR REGARDING THE IMPLICATIONS OF THE RECEIPT OF RESTRICTED STOCK AND
THE FILING OF A SECTION 83(b) ELECTION.

        Generally, a person who receives Restricted Stock who is an employee,
officer or director of the Company, or otherwise provides services to the
Company (a "Restricted Stock Holder") will be treated as receiving stock that is
subject to a "substantial risk of forfeiture" for federal income tax purposes.
This is because the Restricted Stock is subject to redemption by the Company if
a Restricted Stock Holder's employment terminates under certain circumstances
and may be unsaleable by the Restricted Stock Holder unless certain other events
occur, such as the achievement of particular personal or Company performance
goals. As a result, a Restricted Stock Holder will not be subject to tax, as a
general matter, on his or her acquisition of the Restricted Stock but will be
subject to federal income tax at such time as such Restricted Stock vests (i.e.,
is, in whole or in part, no longer subject to a redemption right on the part of
the Company or the other restrictions on sale). At that time, a Restricted Stock
Holder will recognize ordinary compensation income per share in an amount equal
to the difference between what he or she paid for the share of Restricted Stock
and the value of such share at such later time. Such compensation income is
subject to federal income tax withholding as well as to Social Security (FICA)
taxes and unemployment taxes.

        If a Restricted Stock Holder makes an election under Section 83(b) of
the Code, however, a different result will apply. If this election is properly
filed, then an acquired share of Restricted Stock will no longer be treated as
property subject to a "substantial risk of forfeiture" for federal income tax
purposes. As a result, a Restricted Stock Holder will recognize as compensation
income at the time of receipt of the Restricted Stock any excess of the value of
the Restricted Stock over the amount paid for such Restricted Stock. If the
election is properly made, any gain subsequently realized on a sale of

                                       6
<PAGE>   7

Restricted Stock shares would constitute capital gain, not subject to federal
income tax withholding, FICA taxes or unemployment taxes. If an Event of Resale
takes place and if an amount is included in the income of the Restricted Stock
Holder as a result of a Section 83(b) election, the Restricted Stock Holder will
not recognize a loss on the resale of the Restricted Stock to the Company (even
though an amount was included in the income of the Restricted Stock Holders as a
result of the Section 83(b) election).

        AN ELECTION UNDER SECTION 83(b) OF THE CODE MUST BE FILED WITH THE
INTERNAL REVENUE SERVICE AND DELIVERED TO THE EMPLOYER OF THE RESTRICTED STOCK
HOLDER WITHIN THIRTY (30) DAYS AFTER THE DATE ON WHICH A RESTRICTED STOCK HOLDER
RECEIVES THE APPLICABLE RESTRICTED STOCK. A FORM OF A SECTION 83(b) ELECTION IS
AVAILABLE FROM THE COMPANY'S SECRETARY.

16.     NOTICES.

        Any notice or other communication required or permitted to be made or
given hereunder will be sufficiently made or given if sent by certified mail or
other personal delivery service addressed to the offeree or holder at such
individual's address as set forth in the Company's regular books and records
and, if to the Company, addressed to it at its principal office.

                                       7

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