Document:

<PAGE>   1
                                                                   EXHIBIT 10.25

                     FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

         THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT is made and entered into
as of June 24, 1999, by and between ppoONE.com, inc. (the "Corporation") and
Patrick W. Kennedy ("Employee").

                                   WITNESSETH:

         WHEREAS, the Corporation changed its name from PPO Management
Solutions, Inc. to ppoONE.com, inc.

         WHEREAS, the Corporation and Employee have entered into that certain
Employment Agreement dated as of January 1, 1998 (the "Agreement");

         WHEREAS, the Corporation desires to retain Employee and Employee
desires to remain with Corporation;

         WHEREAS, the Employee shall be instrumental in the development of new
technology for the Corporation and the trade secrets relating thereto;

         NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained and other good and valuable consideration hereinafter recited
the Corporation and Employee agree as follows:

         1. SALARY AND BONUS. Section 4 of the Agreement shall be amended to
read in its entirely as follows:

         "4. (a) Base Salary. Except as set forth in Section (4(c), the
Corporation shall pay to Employee, and Employee agrees to accept as full
consideration for his employment, $11,666.67 per month during the term of this
Agreement, payable in two equal installments each month, subject to all
withholdings (i) required by federal, state or local law and (ii) pursuant to
any agreement with Employee. If (a) the Corporation shall cease to exist or
operate prior to the expiration of this Agreement and (b) Employee is not an
employee of MedicalControl, Inc. or any of its subsidiaries or any successor in
interest to the Corporation after the merger into the other entity or sale of
the Corporation to the other entity, the Corporation shall be fully liable for
the lesser of (i) all payments and provisions due under this Section 4 for the
remaining term of this Agreement or (ii) one year of Employee base salary at the
time of termination.

         (b) Retention Bonus. Employee shall be granted as of June 24, 1999 an
option to purchase 110,000 shares of MedicalControl, Inc. ("MedicalControl")
common stock (as adjusted from time to time and including all options that may
be granted by the Corporation or MedicalControl after June 24, 1999, the
"Incentive Options"). Upon a Change of Control (as hereinafter defined),
Employee, at his election no later than one (1) business day of the Change of
Control, shall either (i) keep the Incentive Options, (ii) exercise the
Incentive Options and sell the stock received in the exercise of the Incentive
Options (the "Option Shares") or (iii) if the aggregate exercise price of the
Incentive Options is greater than the aggregate market value of the Option
Shares, cancel the Incentive Options. If Employee elects to exercise the
Incentive Options and sell the Option Shares, or cancel the Incentive Options,
the Corporation shall pay Employee $400,000 within ten (10) business days of a
Change of Control in, at the option of the Corporation, cash or securities of a
publicly traded corporation (securities of a publicly traded corporation defined
as capital stock acquired by MedicalControl or its shareholders in a Change of
Control) less any and all amounts Employee received through the sale of the
Option Shares (if any) (the "Retention Bonus"). If Employee elects to keep the
Incentive Options, no Retention Bonus will be paid. If Employee sells the Option
Shares, Employee shall use best efforts to obtain the best price for the Option
Shares. If the Corporation or MedicalControl does not timely pay the Retention
Bonus due to Employee, interest will accrue on such unpaid portion at a rate of
the lesser of (i) 10% per annum or (ii) the maximum allowable rate. This
subsection (b) shall be null and void if, other than with the written consent of
the Corporation, Employee

<PAGE>   2

seeks other employment during the term of this Agreement, including without
limitation, forwarding his resume to any person or entity, interviewing with any
person or entity or discussions with any person or entity regarding employment.
The Corporation acknowledges that recruiters and other companies may contact
Employee from time to time with employment opportunities. In such cases,
Employee will inform such person or entity that he is not seeking other
employment at this time. For the purposes of this Agreement, a "Change of
Control" shall be deemed to have occurred if any one or more of the following
have occurred:

                  (i) Any "person", including a "group" as determined in
         accordance with Section 13(d)(3) of the Securities Exchange Act of 1934
         and the Rules and Regulations promulgated thereunder, other than J.
         Ward Hunt or his heirs, The Answer Partnership Ltd. or any corporation
         or partnership owned or controlled by J. Ward Hunt or his heirs, is or
         becomes, through one or a series of related transactions or through one
         or more intermediaries, the beneficial owner, directly or indirectly,
         of securities of MedicalControl representing 51% or more of the
         combined voting power of MedicalControl's then outstanding securities;
         or

                  (ii) As a direct result of, or in direct connection with, any
         tender offer or exchange offer, merger or other business combination,
         sale of assets or contested election, or any combination of the
         foregoing transaction (a "Transaction"), the persons who were Directors
         of MedicalControl before the Transaction shall cease to constitute a
         majority of the Board of Directors of MedicalControl or any successor
         to MedicalControl; or

                  (iii) MedicalControl is merged or consolidated with another
         corporation and as a result of such merger or consolidation less than
         40% of the outstanding voting securities of the surviving or resulting
         corporation shall then be owned in the aggregate by the former
         shareholders of MedicalControl, other than (i) any party to such merger
         or consolidation, or (ii) any affiliates of any such party; or

                  (iv) The Corporation is merged or consolidated with another
         corporation and as a result of such merger or consolidation less than
         40% of the outstanding voting securities of the surviving or resulting
         corporation shall then be owned in the aggregate by MedicalControl or
         the former shareholders of MedicalControl, other than (i) any party to
         such merger or consolidation, or (ii) any affiliates of any such party;
         or

                  (v) A tender offer or exchange offer is made and consummated
         for the ownership of securities of MedicalControl representing 51% or
         more of the combined voting power of MedicalControl's then outstanding
         voting securities; or

                  (vi) MedicalControl transfers all or substantially all of the
         assets of MedicalControl or the Corporation or all of the capital stock
         of the Corporation, to another corporation that is not a wholly owned
         corporation (directly or indirectly) of MedicalControl.

         (c) Upon Employee's election, which shall be given to MedicalControl in
writing prior to December 15, 1999, all option agreements between
MedicalControl, Inc. and Employee granted prior to June 1, 1999 shall be amended
to accelerate vesting so that such options will be 100% vested as of January 1,
2000. In consideration for such early vesting, Employee's base salary shall
decrease from $11,666.67 per month to $8,333.34 per month from January 1, 2000
until June 30, 2000. On July 1, 2000, Employee's base salary shall return to
$11,666.67 per month.

         (d) Section 4(b) and 4(c) of the Agreement are subject to the approval
of the compensation committee of MedicalControl before August 30, 1999 and the
Board of Directors of the Corporation. If such approval is not received and the
payment set forth in Section 4(b) is not made to Employee by MedicalControl or
the Corporation, J. Ward Hunt or his estate shall be wholly responsible to make
such payment to Employee. The Agreement is executed by Mr. Hunt only for the
purposes of this Section 1(d)."

         2. TERM. Section 5 of the Agreement shall be amended to read in its
entirely as follows:

<PAGE>   3

         "5. Term. This Agreement shall remain in full force and effect until
June 30, 2002."

         3. BINDING EFFECT. The Agreement is hereby ratified and confirmed and
shall remain and continue in full force and effect in accordance
with its original terms and provisions, except as specifically amended hereby.

         4. COUNTERPARTS. This Amendment may be executed in one or more
counterparts, each of which shall be deemed an original and all of which shall
constitute one document.

         5. CONFLICT OF LAWS. This Amendment shall be governed by the laws of
the State of Texas without giving effect to its conflict of law provisions.

         IN WITNESS WHEREOF, the parties have executed this First Amendment to
Employment Agreement as of the date first written above.

                                                 ppoONE.com, inc.

                                                 By:/s/ ROBERT O. BROOKS
                                                    ----------------------------
                                                    Robert O. Brooks, President
                                                    and Chief Executive Officer

                                                 /s/ PATRICK W. KENNEDY
                                                 -------------------------------
                                                 Patrick W. Kennedy

                                                 /s/ J. WARD HUNT
                                                 -------------------------------
                                                 J. Ward Hunt<PAGE>   1
                                                                   EXHIBIT 10.36

                       SEVENTH AMENDMENT TO LOAN DOCUMENTS

         THIS SEVENTH AMENDMENT TO LOAN DOCUMENTS (this "Seventh Amendment"),
made as of the 24th day of March, 2000, is between BIRNER DENTAL MANAGEMENT
SERVICES, INC., a Colorado corporation ("Borrower") and KEYBANK NATIONAL
ASSOCIATION, a national banking association ("Lender").

                                R E C I T A L S:

         1.       Lender has made a loan (the "Revolving Loan") to Borrower,
which Revolving Loan is evidenced and/or secured by (i) a Promissory Note (the
"Original Note") dated as of October 31, 1996 in the original principal amount
of $800,000.00 executed by Borrower and payable to the order of Lender, (ii) an
Amended and Restated Promissory Note (the "Amended Note") dated as of December
31, 1998 in the amended principal amount of $20,000,000.00 (the Original Note
and Amended Note shall be collectively referred to herein as the "Note"), (iii)
a Security Agreement (the "Security Agreement") dated as of October 31, 1996
from Borrower for the benefit of Lender also securing payment of the Note, (iv)
a Credit Agreement (the "Credit Agreement") dated as of October 31, 1996 between
Borrower and Lender, and (v) certain other documents or instruments (the Note,
the Security Agreement, the Credit Agreement and such other documents and
instruments, as same may from time to time be amended or replaced, are sometimes
collectively referred to herein as the "Loan Documents"). The Revolving Loan was
modified by (i) a Second Amendment to Loan Documents dated November 18, 1997
(the "Second Amendment"), (ii) a Third Amendment to Loan Documents dated
September 30, 1998 (the "Third Amendment"), (iii) a Fourth Amendment to Loan
Documents dated December 31, 1998 (the "Fourth Amendment"), (iv) a Fifth
Amendment to Loan Documents dated May 28, 1999 (the "Fifth Amendment"), and (v)
a Sixth Amendment to Loan Documents dated September 20, 1999 (the "Sixth
Amendment"). The Credit Agreement, Second Amendment, Third Amendment, Fourth
Amendment, Fifth Amendment and Sixth Amendment shall be collectively referred to
herein as the "Amendment".

         2.       Borrower and Lender desire to further amend the Credit
Agreement, Security Agreement, Note and other Loan Documents under the terms and
conditions set forth herein.

         NOW, THEREFORE, in consideration of the foregoing premises and other
good and valuable consideration, the receipt, adequacy and sufficiency of which
are hereby acknowledged, the parties hereto hereby covenant and agree as
follows:

         1.       CREDIT AGREEMENT AMENDMENTS. The Credit Agreement is hereby
amended as follows:

                  a.       The amount of the Revolving Loan shall be decreased
from $20,000,000 to $10,000,000.

                  b.       The following definitions set forth in Article I of
the Credit Agreement shall be amended to read in their entirety as follows:

                           "ADJUSTED LIBOR RATE" means, for any day, a rate per
                           annum (rounded upwards, if necessary, to the next
                           1/16 of 1%) equal to the applicable LIBOR Rate plus
                           the following percentages, as applicable, based on
                           the ratio of Consolidated Senior Debt to Consolidated
                           EBITDA at the time of calculation:

<PAGE>   2

<TABLE>
<CAPTION>
                                    Senior Debt/EBITDA                          LIBOR Rate Margin
                                    ------------------                          -----------------
                                    <S>                                         <C>
                                    greater than 3.0                            2.75%
                                    between 2.5 and 3.0                         2.5%
                                    between 2.0 and 2.5                         2.25%
                                    between 1.5 and 2.0                         2.0%
                                    less than 1.5                               1.5%
</TABLE>

                           "BASE RATE" means, for any day, a rate per annum
                           (rounded upwards, if necessary, to the next 1/16 of
                           1%) equal to the Prime Rate in effect on such day,
                           plus the following percentages, as applicable, based
                           on the ratio of Consolidated Senior Debt to
                           Consolidated EBITDA at the time of calculation:

<TABLE>
<CAPTION>
                                    Senior Debt/EBITDA                          Base Rate Margin
                                    ------------------                          ----------------
                                    <S>                                         <C>
                                    greater than 3.0                            1.5%
                                    between 2.5 and 3.0                         1.25%
                                    between 2.0 and 2.5                         1.0%
                                    between 1.5 and 2.0                         .75%
                                    less than 1.5                               .25%
</TABLE>

                           "BORROWING BASE" means, (i) through February 29,
                           2000, 3.5 times the Consolidated EBITDA of the
                           Borrower for the previous twelve (12) month period,
                           (ii) through March 31, 2000, 3.85 times the
                           Consolidated EBITDA of the Borrower for the previous
                           twelve (12) month period, (iii) through April 30,
                           2000, 3.75 times the Consolidated EBITDA of the
                           Borrower for the previous twelve (12) month period,
                           (iv) through May 31, 2000, 3.60 times the
                           Consolidated EBITDA of the Borrower for the previous
                           twelve (12) month period, (v) through June 30, 2000,
                           3.30 times the Consolidated EBITDA of the Borrower
                           for the previous twelve (12) month period and (vi)
                           through July 31, 2000 for the previous twelve (12)
                           month period and through the Maturity Date for the
                           previous twelve (12) month period, the Borrowing Base
                           shall mean 3 times the Consolidated EBITDA of the
                           Borrower.

                           "MATURITY DATE" shall mean July 1, 2001.

                  c.       Section 2.1 of the Credit Agreement shall be deleted
in its entirety and replaced as follows:

                           2.1 Commitment. Subject to the terms and conditions
                           and relying upon the representations and warranties
                           herein set forth, Lender agrees to make Loans to the
                           Borrower, at any time from time to time and until the
                           earlier of the Maturity Date and the termination of
                           the Commitment in accordance with the terms hereof,
                           in an aggregate principal amount at any time
                           outstanding not to exceed the lesser of (i)
                           $10,000,000 or (2) an amount equal to the Borrowing
                           Base, as defined in this Seventh Amendment, subject
                           to reductions in the maximum amount of the Commitment
                           from time to time pursuant to Section 2.8. If the
                           cumulative amount of the Loans at any time exceeds
                           the foregoing amount, Borrower shall immediately pay
                           down the Loan to the extent of such excess amount,
                           upon demand of the Lender. The Borrower may borrow,
                           pay or prepay and reborrow Loans on or after the
                           Closing Date and prior to the Maturity Date, subject
                           to the terms, conditions and limitations set forth
                           herein.

                  d.       Section 6.12 of the Credit Agreement shall be amended
in its entirety to read as follows:

                           6.12 Senior Debt to EBITDA. The ratio of Consolidated
                           Senior Debt to Consolidated EBITDA shall not be
                           greater than (i) 3.5 to 1.0 through February 29,
                           2000, (ii) 3.85 to 1.0 through March 31, 2000, (iii)
                           3.75 to 1.0 through April 30, 2000, (iv) 3.60 to 1.0
                           through May 31, 2000, (v) 3.30 to 1.0 through June
                           30,

<PAGE>   3

                           2000 and (vi) 3.0 to 1.0 through July 31, 2000 and
                           thereafter for the remaining term of the Revolving
                           Loan.

                  e.       The Facility Fee described in Section 2.5(a) of the
Credit Agreement shall be one of the following percentages, as applicable, based
on the ratio of Consolidated Senior Debt to Consolidated EBITDA at the time the
Facility Fee is incurred, and such Facility Fee shall be based upon the average
unused amount of the Commitment during the previous full calendar quarter:

<TABLE>
<CAPTION>
                           Senior Debt/EBITDA                          Facility Fee
                           ------------------                          ------------
                           <S>                                         <C>
                           greater than 3.0                            0.50%
                           between 2.5 and 3.0                         0.40%
                           between 2.0 and 2.5                         0.35%
                           between 1.5 and 2.0                         0.30%
                           less than 1.5                               0.25%
</TABLE>

                  f.       A new Section 5.4 (h) shall be added to the Credit
                           Agreement as follows:

                           "(h) within 120 days after the end of each fiscal
                  year, the Borrowers shall deliver to Lender a covenant
                  compliance certificate in form acceptable to Lender (the
                  "Covenant Compliance Certificate"), confirming that Borrower
                  is in compliance with all financial covenants to which it is
                  subject under the terms of this Agreement and which Covenant
                  Compliance Certificate shall be certified as complete and
                  correct on behalf of the Borrower by the chief executive
                  officer, chief financial officer, controller or other
                  Authorized Officer of the Borrower, respectively. In addition,
                  each Covenant Compliance Certificate shall have attached to it
                  such calculations necessary to support the financial covenants
                  certified to therein by Borrower."

         2.       PROMISSORY NOTE AMENDMENT. The Borrower simultaneous herewith,
shall execute and deliver to Lender the Second Amended and Restated Promissory
Note in the form attached hereto as EXHIBIT A, which evidences the amendment of
the Revolving Loan amount.

         3.       OTHER LOAN DOCUMENT AMENDMENTS. Each of the other Loan
Documents are amended to reflect and to incorporate the amendment to the Credit
Agreement as set forth above.

         4.       DOCUMENT RATIFICATION. Except as set forth in Paragraphs 1, 2
and 3 above, all of the terms and conditions contained in the Credit Agreement,
the Security Agreement and other Loan Documents shall remain the same and in
full force and effect, and are ratified, reaffirmed and republished as of the
Closing Date.

         5.       REPRESENTATION OF BORROWER. Borrower hereby confirms that, as
of the date hereof, (i) Borrower is in compliance with each of the
representations, warranties and covenants of Borrower set forth in the Loan
Documents, (ii) no Event of Default exists under the Loan Documents and (iii) no
fact or condition exists, which with the passage of time and/or giving of
notice, would constitute an Event of Default under the Loan Documents.

         6.       ACKNOWLEDGMENT OF PARTIES. Borrower and Lender acknowledge and
agree that as of the date hereof, there are no known claims or defaults by
either party against the other, nor are there any existing covenant violations
arising from or under the Credit Agreement.

         7.       CONTROLLING LAW. The terms and provisions of this Seventh
Amendment shall be construed in accordance with and governed by the laws of the
State of Colorado.

<PAGE>   4

         8.       BINDING EFFECT. This Seventh Amendment shall be binding upon
and inure to the benefit of the parties hereto, their successors and assigns.

         9.       CAPTIONS. The paragraph captions utilized herein are in no way
intended to interpret or limit the terms and conditions hereof, rather, they are
intended for purposes of convenience only.

         10.      COUNTERPARTS. This Seventh Amendment may be executed in any
number of counterparts, each of which shall be effective only upon delivery and
thereafter shall be deemed an original, and all of which shall be taken to be
one and the same instrument, for the same effect as if all parties hereto had
signed the same signature page. Any signature page of this Seventh Amendment may
be detached from any counterpart of this Seventh Amendment without impairing the
legal effect of any signatures thereon and may be attached to another
counterpart of this Seventh Amendment identical in form hereto but having
attached to it one or more additional signature pages.

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

                                     LENDER:

                                     KEYBANK NATIONAL ASSOCIATION

                                     By:      /s/ JEANETTE DANOUSIS
                                        ---------------------------------------
                                     Name:    Jeanette Danousis
                                          -------------------------------------
                                     Title:   Senior Vice President
                                           ------------------------------------

                                     BORROWER:

                                     BIRNER DENTAL MANAGEMENT SERVICES, INC., a
                                     Colorado corporation

                                     By:      /s/ DENNIS GENTY
                                        ---------------------------------------
                                     Name:    Dennis Genty
                                          -------------------------------------
                                     Title:   CFO
                                           ------------------------------------

<PAGE>   5

                                    EXHIBIT A

                   SECOND AMENDED AND RESTATED PROMISSORY NOTE

$10,000,000.00                                                 Denver, Colorado
                                                                 March 24, 2000

         FOR VALUE RECEIVED, the undersigned, BIRNER DENTAL MANAGEMENT SERVICES,
INC., a Colorado corporation ("Borrower"), whose address is 3801 E. Florida
Ave., Suite 508, Denver, Colorado 80210, promises to pay to the order of KEYBANK
NATIONAL ASSOCIATION ("Lender"), at its office at 600 South Cherry Street, Suite
1000, Denver, Colorado 80246 (or at such other place as Lender shall designate
in writing), in lawful money of the United States of America, the principal sum
of Ten Million and No/100 Dollars ($10,000,000.00) or so much thereof as may be
advanced by Lender and remain unpaid from time to time, pursuant to the terms of
that certain Credit Agreement dated October 31, 1996, as amended, to which the
Borrower and Lender are parties (as the same may from time to time be amended or
supplemented, the "Credit Agreement"), together with interest on said principal
sum or such part thereof advanced by Lender, from the date of each advance made
by Lender (an "Advance") until repaid in full, at the rate and at the times set
forth in the Credit Agreement. The loan evidenced by this Note is a revolving
loan, whereby the Borrower may borrow, repay and reborrow the principal
indebtedness evidenced hereby.

         1.       Credit Agreement. This Note (the "Note") is the Second Amended
and Restated Promissory Note referred to in the Seventh Amendment to Loan
Documents of even date herewith (the "Seventh Amendment") and is entitled to the
benefits thereof. The proceeds of this Note have been advanced for the uses
specified in the Credit Agreement. Capitalized terms used herein, unless
otherwise defined herein, shall have the meanings given them in the Credit
Agreement.

         2.       Interest and Payments. The outstanding principal balance of
this Note shall bear interest, from the date of each Advance made by Lender
until repaid in full, at the Base Rate or the LIBOR Rate as specified in the
Credit Agreement and/or the Seventh Amendment, as applicable, which interest
shall be due and payable, in arrears, as provided in the Credit Agreement. Upon
the Maturity Date or earlier upon termination of the Credit Agreement, the
entire outstanding principal balance of this Note, together with all accrued but
unpaid interest thereon and all other sums due hereunder, shall be due and
payable in full. The Borrower shall have the right to prepay the outstanding
principal balance of this Note, together with all accrued but unpaid interest
thereon and all other sums due hereunder, in full or in part, as set forth in
the Credit Agreement. All payments of principal, interest and any other sums on
this Note due from the Borrower to Lender shall be made to Lender in lawful
money of the United States of America in the manner set forth in the Credit
Agreement.

         3.       Application of Proceeds. All payments hereunder by Borrower
shall be applied by Lender:

                           First, to the payment of all reimbursable expenses,
         liabilities and advances made or incurred by Lender in connection
         herewith including reasonable attorneys fees incurred in connection
         with any enforcement action taken with respect to this Note;

                           Second, to the payment of any other amounts due
         (other than principal and interest) under this Note or the Credit
         Agreement;

                           Third, to the payment of all interest accrued and
         unpaid on the outstanding indebtedness; and

                           Fourth, to the payment of the outstanding principal
         balance of the outstanding indebtedness.

         4.       Default. Time is of the essence hereof. The occurrence of any
Event of Default under the Credit Agreement shall be a default hereunder and,
upon the occurrence of any such default, the payment of all principal,

<PAGE>   6

interest and any other sums due in accordance with the terms of this Note shall,
at the option of Lender, be accelerated and such principal, interest and other
sums shall be immediately due and payable without notice or demand, and Lender
shall have the option to foreclose or to require foreclosure of any or all liens
and security interests securing the payment hereof and/or to exercise any other
rights and remedies available to Lender hereunder or under the Credit Agreement.
From and after an Event of Default, the outstanding principal balance shall
accrue interest at the Default Rate.

         5.       Governing Law. As additional consideration for the extension
of credit, Borrower understands and agrees that the loan evidenced by this Note
is made in the State of Colorado and the provisions hereof will be construed in
accordance with the laws of the State of Colorado. The parties consent to the
personal jurisdiction of the courts and the venue specified in the Credit
Agreement.

         6.       Maximum Interest. The provisions of this Note are hereby
expressly limited so that in no event whatsoever, whether by reason of demand or
acceleration of the maturity of this Note or otherwise, shall the amount paid,
or agreed to be paid ("Interest"), to Lender for the use, forbearance or
retention of the money loaned hereunder exceed the maximum amount permissible
under applicable law. If, from any circumstance whatsoever, performance or
fulfillment of any provision of this Note shall, at the time of performance or
fulfillment of such provision shall be due, exceed the limit for Interest
prescribed by law, then ipso facto the obligation to be performed or fulfilled
shall be reduced to such limit and if, from any circumstance whatsoever, Lender
shall ever receive anything of value deemed Interest by applicable law in excess
of the maximum lawful amount, an amount equal to any excessive Interest shall be
applied to the reduction of the principal (whether or not then due) or at the
option of Lender be paid over to the Borrower, and not to the payment of
Interest.

         7.       Miscellaneous Provisions.

                  (a)      The Borrower hereby waives demand for payment, of
acceleration of maturity, diligence in taking any action to collect sums owing
hereunder and all duty or obligation of Lender to effect, protect, perfect,
retain or presentment for payment, protest, notice of protest, notice of
dishonor, notice of nonpayment, notice enforce any security for the payment of
this Note or to proceed against any collateral before otherwise enforcing this
Note.

                  (b)      This Note and each payment of principal and interest
hereunder shall be paid when due without deduction or setoff of any kind or
nature or for any costs whatsoever.

                  (c)      The Borrower agrees to reimburse Lender upon demand
for all reasonable out-of-pocket expenses, including, without limitation,
reasonable attorneys' fees and costs, incurred in connection with Lender's
collection of payments due from Borrower hereunder.

                  (d)      The Borrower agrees that Lender may from time to time
extend the maturity of this Note or the time any payment is due under this Note
and may accept further security or release security for the payment of this
Note, without in any way affecting any obligations of the Borrower to Lender.

                  (e)      This Second Amended and Restated Promissory Note
restates and replaces in its entirety the Amended and Restated Promissory Note
dated December 31, 1998 in the principal amount of $20,000,000.

                  IN WITNESS WHEREOF, the Borrower has executed this Note to be
effective as of the day and year first-above written.

                              BIRNER DENTAL MANAGEMENT SERVICES, INC., a
                              Colorado corporation

                              By: /s/ DENNIS GENTY
                                 -----------------------------------------
                              Name: Dennis Genty
                                   ---------------------------------------
                              Title: CFO
                                    --------------------------------------

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