Document:

<PAGE>   1
                                                                    EXHIBIT 10.3

                              SEPARATION AGREEMENT

         THIS SEPARATION AGREEMENT (the "Agreement") is made and entered into as
of the 7 day of May, 2000, by and between F. GEORGE DUNHAM III, an individual
resident of the State of Texas ("Executive") and INSPIRE INSURANCE SOLUTIONS,
INC., a Texas corporation (the "Company"). The Company and Executive have
mutually agreed that it is appropriate for Executive to resign from all
positions he now holds with the Company on the terms set forth below.

         1. RESIGNATION: Executive has resigned from all offices, directorships
and all other positions he currently holds with the Company effective May 3,
2000. The foregoing resignation includes Executive's position as trustee, agent,
advisor or committee member under all employee benefit plans and trusts of the
Company, and his position as authorized signatory on any and all bank accounts
of the Company.

         2. PAYMENT TO EXECUTIVE: In return for the provisions and covenants
contained herein, the Company agrees to pay to Executive $1,300,000.00, less
federal income tax and other required withholdings.

         3. INSURANCE: The Company shall allow Executive, his spouse, and family
to continue to enjoy the health care benefits provided under the Company's
health care plan until they become eligible for coverage under a comparable
group health care plan, provided a conversion privilege is available under the
Company's health care plan and for so long as such coverage remains renewable.
Furthermore, the Company will pay for the cost of such coverage for a period of
three years from the date of termination of employment, including the cost of
any guarantee of renewability. Thereafter, Executive will bear the cost of
insurance, including the cost of any guarantee of renewability.

         4. INDEMNITY AND OFFICER/DIRECTOR INSURANCE: The Company acknowledges
that it has maintained Director's and Officer's Liability Insurance through the
date of this Agreement and applicable coverage thereunder is afforded to
Executive, subject to the terms and conditions therein contained. Additionally,
the Company acknowledges that Executive is entitled to any applicable indemnity
provided under Article VIII of the Company's Bylaws.

         5. LEGAL DEFENSE: The Company agrees to continue to provide Executive
with a legal defense in the Class Action Suit styled Southland Securities
Corporation vs. INSpire Insurance Solutions, Inc., et al, Cause No. 99CV-243-R
pending in the United States District Court Northern District of Texas, and any
other litigation brought against Executive arising out of his role as an
officer/director during the period of Executive's employment, provided any such
litigation does not arise out of actions of Executive that are adverse to the
Company. The Company further agrees to provide Executive with separate counsel
on terms mutually acceptable to the parties in the event the Company's counsel
determines at any time while the litigation is continuing that a conflict exists
in its representation of both parties.

<PAGE>   2

         6. CONFIDENTIAL INFORMATION: Executive acknowledges that during his
affiliation with the Company, he has been given access to or become acquainted
with certain confidential information relating to the organization, business,
properties, operation and condition of the Company, including, but not limited
to, financial, managerial and other corporate and business information and
records of the Company and its shareholders and its business processes,
customers, suppliers and other proprietary data as more fully described in
Section 12 "confidential data" under the Employment Contract between the parties
effective July 1, 1997 and Exhibit "C" thereto (the "Confidential Information").
Executive also assigns to the Company all proprietary rights in such material
and agrees to comply with all of the terms and conditions of said Section 12 and
to hold the Confidential Information in strict confidence and will not disclose,
publish, sell or license said Confidential Information to any third party, nor
use it in any manner.

         7. NONINTERFERENCE AGREEMENT: In recognition of Executive's past and
future relationship with the Company, and in return for the agreements of the
Company made herein, Executive agrees that for a period of three (3) years
following the date hereof, (i) he will not solicit any employee of the Company
for employment or engage in any conduct designed to entice or suggest that an
employee leave the Company for any other opportunity and (ii) he will not
solicit the Company's current customers or those prospective customers shown in
the pipeline report to the Board of Directors of the Company of April 27, 2000.

         8. NONDISPARAGEMENT: In return for the agreements herein made, the
parties hereto agree that each will not directly or indirectly do, say, write,
authorize or otherwise create or publish anything that will in any way disparage
the other party or any past or present employee, agent, officer or director or
consultant or other business associates of the Company.

         9. RELEASE AND WAIVER OF CLAIMS:

                  (a) In consideration of the agreements of the Company herein,
the receipt and sufficiency of which Executive hereby acknowledges, except for
claims relating to breach of this Agreement and subject to the provisions of
Paragraphs 9(c) and (d) hereof, Executive knowingly and voluntarily hereby
fully, finally, completely and generally forever releases the Company, its
predecessors, successors, and its affiliates, officers and directors (the
"Released Parties"), from any and all claims, actions, demands, causes of
action, liabilities, debts and obligations of whatever kind or character,
whether now known or unknown, arising from, relating to or in any way connected
with any relationship that now exists or that ever may have existed between
Executive and the Company, including, without limitation, Executive's
shareholdings in the Company, Executive's directorships and/or offices and/or
other positions he may now hold or may have ever held with the Company or any of
its subsidiaries or affiliates; or claims, actions, demands, causes of action,
liabilities, debts and obligations of whatever kind or character, known or
unknown, arising from, relating to or in any way connected with Executive's
employment with or separation of employment from the Company or otherwise,
including any contractual claims of employment or claims of discrimination in
employment on the basis of race, color, sex, national origin, religion,
disability, age under the Age Discrimination in Employment Act, or any other
claim of discrimination under state or

<PAGE>   3

federal law anti-discrimination provisions, or handicap, if any, Executive may
have, and attorney's fees and costs, if any, occurring on or before the date of
this Agreement.

                  (b) In consideration of the agreements of Executive herein,
the receipt and sufficiency of which the Company hereby acknowledges, except for
claims relating to a breach of this Agreement and subject to the provisions of
Paragraphs 9(c) and (d) hereof, the Company knowingly and voluntarily hereby
fully, finally, completely and generally releases Executive from any and all
claims, actions, demands, causes of action, liabilities, debts and obligations
of whatever kind or character, whether known or unknown, arising from, relating
to or in any way connected with any relationship that now exists or that may
have existed between Executive and the Company, including, without limitation,
Executive's shareholdings in the Company, Executive's directorships and/or
offices and/or other positions he may now hold or may have ever held with the
Company or any of its subsidiaries or affiliates; or claims, actions, demands,
causes of action, liabilities, debts and obligations of whatever character,
known or unknown, arising from, relating to or in any way connected with
Executive's employment with or separation of employment from the Company or
otherwise; provided, however, the foregoing release and waiver shall not extend
to any fraudulent or willful or gross misconduct of Executive nor shall such
release and waiver extend to the provisions of Section 12 "confidential data"
contained in the employment contract between the parties, effective July 1,
1997.

                  (c) The Company agrees to and does hereby release Executive,
and Executive does hereby release the Company, from any and all terms,
conditions and covenants under the employment contract between the parties,
effective July 1, 1997, specifically including the covenant not to compete
contained in Section 11 of said contract; provided, however, and notwithstanding
the foregoing, Section 12 "confidential data" shall continue in full force and
effect.

                  (d) Notwithstanding anything contained herein to the contrary,
the release and waivers contained in this paragraph 9 shall not extend to or
otherwise affect the parties' respective rights, obligations and liabilities
contained in that certain Commercial Lease Agreement, dated November 13, 1998,
by and between the Company and IIS Realty, Ltd., and such agreement shall
continue in full force and effect and shall not be impaired or otherwise
affected by the foregoing waiver and release or any other terms and provisions
contained herein.

         10. FULL PAYMENT: The payment described in Paragraph 2 satisfies all of
Executive's claims against the Released Parties, as well as any claim for
attorneys' fees against the Released Parties, in connection with the subject
matter of this Agreement. Executive further agrees that he will be responsible
for any personal income tax, FICA, or other tax liability, if any, resulting
from all payments under this Agreement, except such as may have been withheld by
the Company pursuant to Paragraph 2 of this Agreement.

         11. STOCK OPTION AND OTHER BENEFIT PLANS: Executive's rights in the
Company's stock option and other benefit programs maintained by the Company
including his right to

<PAGE>   4

exercise outstanding options granted under the Company's stock option plan shall
be governed by the terms and conditions of the appropriate stock option and
other plans.

         12. LEGAL CONSTRUCTION: If any provision of this Agreement is held to
be illegal, invalid or unenforceable under present or future laws effective
during the term of this Agreement, such provision shall be fully severable and
this Agreement shall be construed and enforced as if such illegal, invalid or
unenforceable provision never comprised a part of this Agreement; and the
remaining provisions of this Agreement shall remain in full force and effect and
shall not be affected by the illegal, invalid or unenforceable provision or by
its severance from this Agreement. Furthermore, in lieu of such illegal, invalid
or unenforceable provision, there shall be added automatically as part of this
Agreement, a provision as similar in its terms to such illegal, invalid or
unenforceable provision as may be possible and be legal, valid and enforceable.
THE PARTIES AGREE THIS AGREEMENT SHALL BE GOVERNED, CONSTRUED AND ENFORCED UNDER
THE LAWS OF THE STATE OF TEXAS. THE PARTIES AGREE THAT ANY LITIGATION RELATING
DIRECTLY OR INDIRECTLY TO THIS AGREEMENT MUST BE BROUGHT AND DETERMINED BY A
COURT OF COMPETENT JURISDICTION IN TARRANT COUNTY, TEXAS.

         13. ENTIRE AGREEMENT: This Agreement supersedes that certain Letter of
Intent dated May 2, 2000 between the parties hereto and any and all other
agreements, either oral or in writing, between the parties hereto regarding the
parties or Executive's employment by the Company and contains all of the
covenants, agreements and understandings between the parties with respect to
such interests in any manner whatsoever.

         14. EQUITABLE REMEDIES: Executive and the Company acknowledge that
neither party would enter into this Agreement but for the agreements of the
other contained herein and that the other would be irreparably injured by a
violation of the provisions of this Agreement and that neither would have
adequate remedy at law in the event of such violation. Therefore, Executive and
the Company acknowledge that injunctive relief, specific performance or any
other appropriate equitable remedy (without bond or other security being
required) are appropriate remedies to enforce compliance by the other of its
obligations hereunder.

         15. SUCCESSORS: This Agreement shall be binding upon and inure to the
benefit of the parties, and shall be fully enforceable by the Company and its
successors and assigns. However, Executive understands and agrees that his
obligations and benefits pursuant to this Agreement are personal to Executive
and may not be assigned by Executive to any person.

         16. COUNTERPARTS: This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original but all of which
together shall constitute but one agreement.

         17. REPRESENTATION: EXECUTIVE AND THE COMPANY HEREBY FURTHER REPRESENT
AND WARRANT THAT EACH HAS READ THE ABOVE PROVISIONS AND THAT EACH HAS HAD A
SUFFICIENT OPPORTUNITY TO DISCUSS THOROUGHLY THIS AGREEMENT WITH ANYONE THEY
MIGHT DESIRE PRIOR TO

<PAGE>   5

SIGNING BELOW. FURTHER, IN SIGNING THIS AGREEMENT, EXECUTIVE AND THE COMPANY
HAVE NOT RELIED ON OR BEEN INDUCED TO EXECUTE THIS AGREEMENT BY ANY STATEMENTS,
REPRESENTATIONS, AGREEMENTS OR PROMISES, ORAL OR WRITTEN, MADE BY THE OTHER, ITS
AGENTS, EMPLOYEES, SERVANTS OR ATTORNEYS OTHER THAN THOSE EXPRESSLY WRITTEN
ABOVE IN THIS AGREEMENT.

         18. Executive understands that he will be allowed up to 21 days to
review and consider this Agreement before signing it. Executive understands that
he may use as little, or as much, of the 21-day period as he wishes prior to
signing. If Executive desires to enter into this Agreement, he will sign the
document and deliver it to Company within the 21-day period. If Executive does
not sign this document and deliver it to Company before the close of business
within the 21-day period, then this Agreement will not be effective or
enforceable and Executive will not receive the benefits stated above. Executive
may revoke this Agreement within seven days of signing it. Revocation may be
effected by presenting a written notice of revocation to Company not later than
the close of business on the seventh day after Executive signs this Agreement.
If Executive revokes this Agreement, it will not be effective or enforceable and
Executive will not receive the benefits stated above. If Executive does not
revoke this Agreement, its terms will be effective beginning eight days after
the day that Executive signs this Agreement. Immediately following Executive's
signature on this Agreement, Company will deliver a check for $1,300,000 to
Cantey & Hanger, L.L.P., to be held in trust for Executive throughout the 7-day
revocation period. If Executive revokes this Agreement within the seven days,
Cantey & Hanger, L.L.P. will return the consideration to Company. Otherwise,
Cantey & Hanger, L.L.P. will release the consideration to Executive on the
eighth day following his signature on this Agreement. Company has advised
Executive to consult with an attorney before signing this Agreement. Executive
understands that whether or not to do so is his decision, and he must pay any
costs that he incurs as a result of consulting with an attorney.

                                NOTICE TO SPOUSE

         You and your spouse are hereby advised to consult with an attorney
prior to executing this Agreement. If you accept the terms of this Agreement, it
must be signed by you and your spouse and returned to the undersigned. After the
execution of this Agreement, you have a period of seven days in which you and
your spouse may revoke this Agreement. Notification of revocation should be in
writing and returned to the Company. The effective date of this Agreement (and
the date for payment of the amount due under Paragraph 2) is eight days after
you and your spouse execute this Agreement.

<PAGE>   6

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

I have read and understood the foregoing Agreement, including the Release and
Waiver in Paragraph 9, have been advised to and have had the opportunity to
discuss it with anyone I desire, including an attorney of my own choice, agree
to its terms, acknowledge receipt of a copy of same, and the sufficiency of the
payments recited therein, and sign this Agreement, including the Release and
Waiver in Paragraph 9, voluntarily.

INSPIRE INSURANCE SOLUTIONS, INC.

By:
    R. E. Cox, III, Chairman

F. GEORGE DUNHAM, III

[Signature]                                     Dated:

                               SPOUSE'S AGREEMENT

         The undersigned, ______________________________, being the spouse of
Executive, a party to this Agreement, by her execution of this Agreement in the
space provided below, joins with Executive and consents to the provisions of
this Agreement, and in particular consents to the release and waiver provisions
of Paragraph 9 of this Agreement, and agrees to be bound by the terms and
provisions of the Agreement to the same extent as her spouse, F. George Dunham,
III, with the effect that the undersigned shall be jointly and severally bound
by each agreement and obligation and release and waiver of F. George Dunham, III
contained in the Agreement. The undersigned confirms that I have read and
understood the foregoing Agreement, have been advised to and have had the
opportunity to discuss it with anyone I desire, including an attorney of my
choice, agree to its terms, acknowledge receipt of a copy of same, and the
sufficiency of the consideration recited therein, and sign this Agreement,
including the Release and Waiver in Paragraph 9, voluntarily.

         [Signature]                            Dated:<PAGE>   1
                                                                   EXHIBIT 10.39

                            ECONOMIC DEVELOPMENT AND
                              INCENTIVE AGREEMENT

     THIS AGREEMENT ("Agreement") is made and entered into by and between the
PAMPA ECONOMIC DEVELOPMENT CORPORATION ("PEDC") and UNITED MEDICORP, INC., and
its wholly owned subsidiaries ("Medicorp").

     For and in consideration of the grant and guaranty hereinafter provided
and the mutual covenants and agreements contained herein, and intending to be
legally bound hereby, PEDC and MEDICORP, do contract and agree as follows:

     1. Definitions and Reference Terms. In addition to any other terms defined
herein, the following terms shall have the meaning set forth with respect
thereto.

     a. Full-time Equivalent Employee: Each 2,080 hours logged per year.

     b. Calendar year: Beginning January 1 of the referenced year.

     c. Incentive Package: All funds to be paid to or expended for the benefit
        of Medicorp and any guaranty made on its behalf by the PEDC.

     d. City: The City of Pampa, Texas.

     2. Incentive Package: PEDC hereby agrees to make the following grants and
loan guaranty to and in favor of Medicorp for its operations within the City
and employees located at its Pampa facility:

     a. $192,000.00 cash grant to be paid upon the closing of the purchase of
        the real property and the improvements located thereon where Medicorp's
        operations will be conducted within the City, subject, however, to the
        provisions of Paragraph 3 below.

     b. $23,810.00 to be paid, or has been paid, to Hughes-Roth Capital Markets,
        Inc. for its services rendered in the negotiations of the incentive
        package and the location of Medicorp's operations in the City.

     c. PEDC agrees to pay to Medicorp $27,400.00 per year for five (5) years,
payable on the anniversary date of this Agreement (the "Installment Payments").
Such Installment Payments shall be allocated as follows: (i) to reimburse
Medicorp for the total of the monthly payments made by Medicorp for the months
preceding the anniversary date of this Agreement to its lender (principal and
interest) on the loan for the purchase of the building; and (ii) after
deducting such total under (i) from said $27,400.00, Medicorp will pay, within
thirty (30) days after receipt of said Installment payment, the balance of such
annual Installment Payment to Medicorp's lender to be applied to said original
loan; provided, however, Medicorp will not be required to make any payment to
lender in excess of the balance of the loan.

                                       1

<PAGE>   2
     Medicorp shall grant PEDC a second lien in the form of a deed of trust on
     the land and the improvements located thereon to secure PEDC's guaranty of
     Medicorp's loan with its lender. This lien shall represent a claim against
     Medicorp's equity in the real estate equal to the amount paid by PEDC, if
     any, to the first lienholder pursuant to a guaranty provided by PEDC to
     such first lienholder. This second lien shall terminate on the earlier of
     the date PEDC's guaranty is released by the first lienholder or Medicorp
     pays off the balance due to the first lienholder.

     PEDC shall be released from any obligation to pay any unpaid Installment
     Payments to Medicorp if (i) Medicorp is declared in default of its
     obligations to its first lienholder, or (ii) Medicorp discontinues its
     operations in Pampa within five (5) years of the date hereof.

d.   Employee grant to be paid and adjusted over a term of eight (8) years,
     commencing January 1, 2001, and ending December 31, 2008, for a maximum of
     $320,000.00, as follows:

     (1)  PEDC will pay to Medicorp $40,000.00 per calendar year (for a maximum
          of $320,000.00) for each of the first eight (8) years commencing with
          the calendar year of January 1, 2001, and ending December 31, 2001,
          and for each succeeding calendar year thereafter, if Medicorp provides
          a minimum of 83,200 hours (2,080 hours X 40 FTEE's) of employment
          during such calendar year.

          This annual incentive shall be paid in equal quarterly installments of
          $10,000.00 so long as 20,800 hours (520 hours X 40 FTEE's) of
          employment have been provided in such quarter, which payment will be
          made within five (5) days after each quarterly and calendar year
          verification as described in (4) below. If for such calendar year
          Medicorp has not provided a minimum of 83,200 hours of employment,
          Medicorp will reimburse PEDC for quarterly payments received within
          thirty (30) days after written demand for payment. If Medicorp fails
          to pay such reimbursement within said thirty (30) days, such amount
          shall bear interest at the rate of ten percent (10%) per annum based
          upon a 365-day year until paid.

     (2)  PEDC will pay to Medicorp in addition to employee grant incentives set
          in (1) above, $1,000.00 per calendar year (for a maximum of
          $80,000.00) for each of the first eight (8) years commencing with the
          calendar year of January 1, 2001, and ending December 31, 2001, and
          for each succeeding calendar year thereafter, for each 2,080 hours of
          employment over 83,200 hours of employment but not more than 104,000
          hours (2,080 hours X 50 FTEE's) of employment during such calendar
          year.

          This annual incentive shall be paid in quarterly installments
          calculated as the total number of hours paid in such quarter less
          20,800 hours divided by 520 hours times $250.00. The fourth quarterly
          payment for each calendar year shall be calculated as the total number
          of hours paid in such calendar year

                                       2
<PAGE>   3
                                                                   EXHIBIT 10.39

               (but not more than 104,000 hours) less 83,200 hours divided by
               2,080 hours times $1,000.00 less the sum of the first three
               quarterly payments made in such calendar year. To the extent
               that such calculation results in a negative balance, Medicorp
               will reimburse PEDC for such balance within thirty days after
               written demand for payment. If Medicorp fails to pay such
               reimbursement within said thirty (30) days, such amount shall
               bear interest at the rate of ten percent (10%) per annum based on
               a 365-day year until paid.

         (3)   PEDC will pay to Medicorp in addition to the employee grant
               incentives set in (1) and (2) above, $500,000 per calendar year
               with no limit or cap, for each of the first eight (8) years
               commencing with the calendar year of January 1, 2001, and ending
               December 31, 2001, and for each succeeding calendar year
               thereafter, for each 2,080 hours of employment over 104,000 hours
               of employment during such calendar year.

               This annual incentive shall be paid in quarterly installments
               calculated as the total number of hours paid in such quarter less
               26,000 hours (520 hours X 50 FTEE's) of employment during such
               quarter divided by 520 hours times $125.00. The fourth quarterly
               payment for each calendar year shall be calculated as the total
               number of hours paid in such calendar year less 104,000 hours
               divided by 2,080 hours times $500.00 less the sum of the first
               three quarterly payments made in such calendar year. To the
               extent that such calculation results in a negative balance,
               Medicorp will reimburse PEDC for such balance within thirty days
               after written demand for payment. If Medicorp fails to pay such
               reimbursement within said thirty (30) days, such amount shall
               bear interest at the rate of ten percent (10%) per annum based on
               a 365-day year until paid.

         (4)   Verification of the number of hours of employment worked as of
               December 31 of each applicable year shall be determined from
               Medicorp professional employer organization reports to be filed
               by applicable State and Federal laws and regulations, which
               organization at the time of execution of the Agreement is
               Adminstaff, Inc. with corporate headquarters in Kingwood, Texas,
               or any other report(s) acceptable by PEDC.

    e.      $10,000.00 will be paid to Medicorp if Medicorp has forty (40)
            employees by December 31, 2000, as verified under (4) above.

    f.      If PEDC fails to pay any amount due hereunder within thirty
            (30) days of the due date, such amount shall bear interest at
            the rate of 10 percent per annum, based on a 365-day year,
            until paid.

     3.     Repayment Obligations of Medicorp. In addition to any repayment
provisions provided in Paragraph 2 above, if Medicorp does not provided 62,400
hours (2,080 hours X 30 FTEE's) of employment during a calendar year as verified
under Paragraph 2d.(4) above, beginning with the year ending December 31, 2001,
Medicorp agrees to pay and reimburse PEDC $24,000.00 per such year no later
than February 15th of the year following the calendar year in which such level

                                       3
<PAGE>   4
of full-time employees was not maintained. Each of the eight (8) years shall
stand alone and there will be no cumulation or averaging over the eight (8)
years of this incentive provision. All past due payments shall bear interest at
the rate of ten percent (10%) per annum based upon a 365-day year. All payments
to be made by Medicorp to the PEDC under this Agreement are payable in Pampa,
Gray County, Texas.

     4.   Representations and Warranties by Medicorp. Medicorp represents and
warrants to PEDC as follows:

     a.   Good Standing. Medicorp is a Delaware corporation, duly organized,
          validly existing and authorized to do business in the State of Texas,
          and in good standing under the laws of the States of Delaware and
          Texas and has the power and authority on its own to carry on its
          business in each jurisdiction in which Medicorp does business.

     b.   Authority and Compliance. Medicorp has full power and authority to
          execute and deliver this Agreement and all other documents related to
          the subject matter hereof and to incur and perform the obligations
          provided for herein, all of which have been duly authorized by all
          proper and necessary action of its board of directors. No consent or
          approval of any other third party is required as a condition to the
          validity of this Agreement and all other documents related to the
          subject matter hereof. Medicorp is in compliance with all laws and
          regulatory requires to which it is subject.

     c.   Litigation. There is no proceeding involving Medicorp pending or, to
          its knowledge, threatened before any court or governmental authority,
          agency or arbitration authority, except as disclosed to PEDC in
          writing and acknowledged by PEDC prior to the date of this Agreement.

     d.   No Conflicting Agreements. There is no charter, bylaw, stock
          provision, partnership agreement or other document pertaining to the
          organization, power or authority of Medicorp and no provision of any
          existing agreement, mortgage, indenture or contract binding on it or
          affecting its property, which would conflict with or in any way
          prevent the execution, delivery or carrying out the terms of this
          Agreement and all other documents related to the subject matter
          hereof.

     e.   Taxes. All taxes and assessments due and payable by Medicorp have been
          paid or are being contested in good faith by appropriate proceedings
          and Medicorp has filed all tax returns which it is required to file.

     f.   Financial Statements. The financial statements of Medicorp heretofore
          delivered to PEDC have been prepared in accordance with GAAP applied
          on a consistent basis throughout the period involved and fairly
          present Medicorp's financial condition as of the date or dates
          thereof, and there has been no material adverse change in Medicorp's
          financial condition or operations since March 31, 2000. All factual
          information furnished by Medicorp to PEDC in connection with this
          Agreement and the subject matter hereof is and will be accurate and
          complete on the date as of which

                                       4
<PAGE>   5
          such information is delivered to PEDC and is not and will not be
          incomplete by the omission of any material fact necessary to make such
          information not misleading.

     g.   Place of Business. Medicorp's chief executive office is located at
          10210 North Central Expressway, Suite 400, Dallas, TX 75231.

     h.   Continuation of Representations and Warranties. All representations
          and warranties made under this Agreement shall be deemed to be made at
          and as of the date hereof and at and as of the date of any payments
          to be made under this Agreement.

     5.   Affirmative Covenants by Medicorp. Until performance of all
obligations of Medicorp under this Agreement, Medicorp covenants:

     a.   Financial Statements and Other Information. Maintain a system of
          accounting in accordance with GAAP applied on a consistent basis
          throughout the period involved and permit PEDC's officers or
          authorized representatives to visit and inspect Medicorp's books of
          account records at reasonable times and as often as PEDC may desire.
          Unless written notice of another location is given to PEDC, Medicorp's
          books and records will be located at its chief executive offices as
          set forth above. Medicorp will furnish to PEDC audited company
          prepared financial statements (including a balance sheet and profit
          and loss statement) for each fiscal year during the term of this
          Agreement within ninety (90) days after the close of each fiscal year.

     b.   Insurance. Maintain insurance with responsible insurance companies
          licensed to do business in the State of Texas on such of its
          properties, in such amounts and against such risks as is customarily
          maintained by similar businesses operating in the same vicinity,
          specifically to include fire and extended coverage insurance covering
          all assets, and liability insurance in such amounts as are acceptable
          to PEDC. Certificates reflecting such insurance coverage shall be
          provided to the PEDC within thirty (30) days of the effective date of
          this Agreement and within ten (10) days of each renewal date of such
          coverage.

     c.   Existence and Compliance. Maintain its existence, good standing and
          qualification to do business, where required and comply with all laws,
          regulations and governmental requirements.

     d.   Taxes and Other Obligations. Pay all of its taxes, assessments and
          other obligations, including, but not limited to, taxes, costs and
          other expenses arising out of this transaction, as the same become due
          and payable, except to the extent the same are being contested in good
          faith by appropriate proceedings in a diligent manner.

     e.   Adverse Conditions or Events. Promptly advise the PEDC in writing of
          (i) any condition, event or act which comes to its attention that
          would or might materially adversely affect Medicorp's financial or
          operations or PEDC's rights under this Agreement; (ii) any litigation
          filed by or against Medicorp; (iii) any event that has occurred that
          would constitute an event of default under this Agreement; and (iv)
          any

                                       5

<PAGE>   6
          uninsured or partially uninsured loss through fire, theft, liability
          or property damages in excess of an aggregate of $50,000.00.

     6.   Negative Covenant of Medicorp. Until full performance of this
 Agreement, Medicorp will not, without the prior written consent of PEDC:

     a.   Transfer of Assets or Control. Sell, lease, assign or otherwise
          dispose of or transfer any assets, except in the normal course
          of business.

     7.   Default. Either party shall be in default under this Agreement if it
shall default in the payment of any amount due and owing hereunder or should it
fail to timely and properly observe, keep or perform any term, covenant,
agreement or condition of this Agreement or any other document related to the
subject matter hereof. In the event of default, either party shall have all
rights, powers and remedies available under this Agreement as well as all rights
and remedies available at law or in equity. In the event it becomes necessary
for either party to file suit to enforce any of the provisions hereof, the
prevailing party in such litigation shall be entitled to recover its costs and
its reasonable attorney's fees incurred in such litigation.

     8.   Notices. All notices, requests or demands which either party is
required or may desire to give to the other party under any provision
of this Agreement shall be in writing delivered to the other party at
the following addresses:

          Pampa Economic Development Corporation
          105 E. Foster Avenue
          P.O. Box 2494
          Pampa, TX 79066-2494

          United Medicorp, Inc.
          Attn: President
          10210 North Central Expressway, Suite 400
          Dallas, TX 75231

or to such other address as either may designate by written notice to the other
party. Such notice, request, or demand shall be deemed given or made as
follows: (a) if sent by mail, upon the earlier of the date of receipt or five
(5) days after deposit in the U.S. Mail, first class postage prepaid, certified
with return receipt requested; or (b) if by any other means, upon personal
delivery.

     9.   Miscellaneous. The parties further covenant and agree:

     a.   Cumulative Rights and No Waiver. Each and every right granted to
          either party under this Agreement or allowed it by law or equity
          shall be cumulative of each other and may be exercised in addition to
          any and all other rights of such party, and no delay in exercising
          any right shall operate as a waiver thereof, nor shall any single or
          partial exercise by a party of any right preclude any other or future
          exercise thereof or the exercise of any other right.

                                       6
<PAGE>   7
                                                                   EXHIBIT 10.39

        b.  Applicable Law. This Agreement and the rights and obligations of
            the parties hereunder shall be governed and interpreted in
            accordance with the laws of the State of Texas.

        c.  Venue. It is agreed that this Agreement is performable in Gray
            County, Texas, and any legal action brought to enforce any of the
            provisions hereof shall be brought in Gray County, Texas.

        d.  Amendment. No modification, consent, amendment or waiver of any
            provision of this Agreement, nor consent to any departure by
            Medicorp therefrom, shall be effective unless the same shall be in
            writing and signed by the parties hereto, and then shall be
            effective only in the specified instance and for the purpose for
            which given.

        e.  Binding on Successors and Assigns. This Agreement is binding upon
            and shall inure to the benefit of the parties hereto, their
            successors and assigns, provided, however, that no assignment or
            other transfer by Medicorp of this Agreement, or any part thereof,
            shall be made or be effective without the PEDC's prior written
            consent.

        f.  Partial Invalidity. The unenforceability or invalidity of any
            provision of this Agreement shall not affect the enforceability or
            validity of any other provision herein.

        g.  Survivability. All covenants, agreements, representations and
            warranties made herein or in any other documents relating to the
            subject matter hereof shall survive the funding of this Agreement
            and shall continue in full force and effect as long as this
            Agreement is in effect.

        h.  Captions. Captions have been included for convenience and shall
            have no effect on the interpretation of the particular provision
            which it identifies.

        EXECUTED in duplicate originals this the 28th day of July, 2000.

<TABLE>
<CAPTION>
                                    PAMPA ECONOMIC DEVELOPMENT
                                    CORPORATION
<S>                                 <C>
ATTEST:                             By:
                                       -----------------------------
                                    Richard W. Stowers, Jr.,
--------------------------------    President
Jerry Foote, Secretary

                                    UNITED MEDICORP, INC.

ATTEST:                             By: /s/ PETER W. SEAMAN
                                       -----------------------------
/s/ MARGARET R. WRIGHT              Peter W. Seaman,
--------------------------------    Chairman and Chief Executive Officer
                       Secretary
</TABLE>

                                       7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00013-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00013-of-00352.parquet"}]]