Document:

DIRECTORS AND OFFICERS
                            INDEMNIFICATION AGREEMENT

         This  INDEMNIFICATION  AGREEMENT,  dated  as of July  ___,  2000  (this
"Agreement"),  is  made  and  entered  into  by  and  between  Omega  Healthcare
Investors,  Inc., a Maryland corporation (the "Company"), and __________________
("Indemnitee").

                                    RECITALS

A. It is essential to the Company to retain and attract as directors and
officers the most capable persons available;

B. Indemnitee is a director and/or officer of the Company;

C. Both the Company and  Indemnitee  recognize the increased  risk of litigation
and other claims being asserted  against  directors and officers of companies in
today's environment;

D. The Company's  Articles of  Restatement,  as amended,  (the  "Articles")  and
Amended  and  Restated  Bylaws  (the  "Bylaws")  provide  that the  Company  may
indemnify  its  directors  and officers and may advance  expenses in  connection
therewith, and Indemnitee's willingness to serve as a director and/or officer of
the Company is based in part on Indemnitee's reliance on such provisions; and

E. In  recognition  of  Indemnitee's  need for  substantial  protection  against
personal  liability in order to enhance  Indemnitee's  continued  service to the
Company in an  effective  manner,  and  Indemnitee's  reliance on the  aforesaid
provisions of the Articles and Bylaws,  and in part to provide  Indemnitee  with
specific  contractual  assurance that the protection promised by such provisions
will be  available  to  Indemnitee  (regardless  of,  among  other  things,  any
amendment to or revocation of such  provisions or any change in the  composition
of the Company's Board of Directors or any  acquisition or business  combination
transaction  relating to the  Company),  the  Company  wishes to provide in this
Agreement  for  the  indemnification  of and  the  advancement  of  expenses  to
Indemnitee  as set forth in this  Agreement,  and for the coverage of Indemnitee
under directors' and officers' liability insurance policies.

         NOW,  THEREFORE,  in consideration of the mutual  agreements herein set
forth, the parties hereto hereby agree as follows:

1.  Certain Definitions.

     1.1 "Claim" means any threatened,  pending,  or completed action,  suit, or
proceeding,  or any  inquiry or  investigation,  whether  instituted,  made,  or
conducted  by the  Company or any other  party,  that  Indemnitee  in good faith
believes might lead to the institution of any such action,  suit, or proceeding,
whether civil, criminal, administrative, investigative, or other.

     1.2 "Expenses" includes reasonable attorney's fees and all other reasonable
costs,   expenses,   and  obligations   paid  or  incurred  in  connection  with
investigating,  defending, being a witness in, or participating in (including on
appeal),  or preparing to defend,  be a witness in, or participate in, any Claim
relating to any Indemnifiable Event.

     1.3 "Indemnifiable  Event" means any actual or asserted event or occurrence
related to the fact that Indemnitee is or was a director,  officer, employee, or
agent of the  Company,  or is or was  serving at the request of the Company as a
director, officer, employee, or agent of another corporation, partnership, joint
venture, trust, or other entity, whether or not for profit (including the heirs,
executors,  administrators,  or estate of such  person) or anything  done or not
done by Indemnitee in any such capacity.  "Indemnifiable Event" will not include
any event or  occurrence  to the extent that  indemnification  is not  permitted
under applicable law.

2.  Basic  Indemnification  Arrangement.  In the event  Indemnitee  was,  is, or
becomes a party to or witness or other  participant  in, or is  threatened to be
made a party to or  witness  or other  participant  in, a Claim by reason of (or
arising in whole or in part out of) an  Indemnifiable  Event,  the Company  will
indemnify  Indemnitee  to  the  fullest  extent  permitted  by law  as  soon  as
practicable but in any event no later than 60 calendar days after written demand
is presented to the Company,  against any and all  Expenses,  judgments,  fines,
penalties, and amounts paid in settlement (including all interest,  assessments,
and other  charges  paid or  payable  in  connection  with or in respect of such
Expenses,  judgments,  fines,  penalties, or amounts paid in settlement) of such
Claims.  The Indemnitee shall give prompt notice to the Company of any actual or
asserted event or occurrence that could reasonably be expected to give rise to a
Claim.  The failure by the  Indemnitee  to notify the Company of such Claim will
not relieve the Company from any  liability  hereunder  unless,  and only to the
extent  that,  the  Company  did not learn of the Claim and such  failure  shall
materially  prejudice  the  ability  of the  Company  to defend  such  Claims or
otherwise   perfect  rights  to  any  insurance   coverage   relating   thereto.
Notwithstanding anything in this Agreement to the contrary,  Indemnitee will not
be entitled to indemnification pursuant to this Agreement in connection with any
Claim initiated by Indemnitee  against the Company (other than a claim described
in  Section 3 hereof) or any  director  or  officer  of the  Company  unless the
Company  has joined in or  consented  to the  initiation  of such  Claim.  If so
requested by Indemnitee,  the Company will advance  (within two business days of
such request) any and all Expenses to Indemnitee  upon receipt of an undertaking
from Indemnitee  agreeing to repay any amounts advanced  hereunder to the extent
that it is finally determined that Indemnitee is not entitled to indemnification
for such Expenses.

3.  Indemnification  for  Additional   Expenses.   The  Company  will  indemnify
Indemnitee against,  and, if requested by Indemnitee,  will (within two business
days of such request) advance to Indemnitee,  any and all reasonable  attorneys'
fees and other costs,  expenses,  and obligations paid or incurred by Indemnitee
in connection with any claim, action, suit, or proceeding asserted or brought by
Indemnitee for (i) indemnification or advance payment of Expenses by the Company
under  this  Agreement  or any other  agreement  or under any  provision  of the
Articles  or  Bylaws  now  or  hereafter  in  effect   relating  to  Claims  for
Indemnifiable  Events and/or (ii) recovery  under any  directors'  and officers'
liability  insurance policies  maintained by the Company,  regardless of whether
Indemnitee  ultimately  is  determined  to be entitled to such  indemnification,
advance expense payment, or insurance recovery, as the case may be.

4. Partial Indemnity, Etc. If Indemnitee is entitled under any provision of this
Agreement  to  indemnification  by the  Company  for  some or a  portion  of the
Expenses, judgments, fines, penalties, and amounts paid in settlement of a Claim
but  not,  however,  for all of the  total  amount  thereof,  the  Company  will
nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is
entitled.  Moreover,  notwithstanding any other provision of this Agreement,  to
the extent that  Indemnitee  has been  successful  on the merits or otherwise in
defense of all Claims  relating to an  Indemnifiable  Event or in defense of any
issue or matter therein, including dismissal without prejudice,  Indemnitee will
be  indemnified  against all  Expenses  incurred  in  connection  therewith.  In
connection  with any  determination  as to whether  Indemnitee is entitled to be
indemnified  hereunder,  the burden of proof will be on the Company to establish
that Indemnitee is not so entitled.

5. Action by Company. The Company will use its best efforts to take, or cause to
be taken,  all  action  necessary  to  fulfill  any  requirements  to  providing
indemnification as contemplated by this Agreement including, but not limited to,
any actions  required by Maryland General  Corporation  Law.  Promptly after the
date hereof,  the Company will use its  commercially  reasonable best efforts to
increase the  aggregate  liability  limits under its  directors'  and  officers'
insurance policy to not less than $15 million on terms acceptable to the Company
and Indemnitee.

6. No Presumption. For purposes of this Agreement, the termination of any claim,
action,  suit, or proceeding,  by judgment,  order,  settlement (whether with or
without court approval), or conviction, or upon a plea of nolo contendere or its
equivalent,  will not in and of itself create a presumption  that Indemnitee did
not meet any  particular  standard of conduct or have any  particular  belief or
that a court has determined that  indemnification is not permitted by applicable
law.

7. Non-Exclusivity,  Etc. The rights of Indemnitee hereunder will be in addition
to any other rights  Indemnitee may have under the Articles,  the Bylaws, or the
Maryland General Corporation Law or otherwise;  provided,  however,  that to the
extent that Indemnitee otherwise would have any greater right to indemnification
under any  provision  of the Articles or Bylaws as in effect on the date hereof,
Indemnitee will be deemed to have such greater right  hereunder;  and,  provided
further,  that to the  extent  that any change is made to the  Maryland  General
Corporation  Law  (whether  by  legislative  action or judicial  decision),  the
Articles,  and/or the Bylaws which permits any greater right to  indemnification
than that provided under this Agreement as of the date hereof,  Indemnitee  will
be deemed to have such greater right  hereunder.  The Company will not adopt any
amendment  to the  Articles  or the Bylaws the effect of which would be to deny,
diminish,  or encumber Indemnitee's right to indemnification under the Articles,
the Bylaws, the Maryland General Corporation Law, or otherwise as applied to any
act or failure to act occurring in whole or in part prior to the date upon which
the  amendment  was  approved by the  Company's  Board of  Directors  and/or its
stockholders, as the case may be.

8.  Liability  Insurance  and Funding.  The Company  will  maintain an insurance
policy or policies providing directors' and officers' liability insurance to the
extent,  in the judgment of the Board of Directors,  such insurance is available
on reasonable terms and at reasonable premiums and Indemnitee will be covered by
such policy or policies,  in accordance  with its or their terms, to the maximum
extent of the coverage available for any Company director or officer.  Copies of
all  correspondence  between the Company and the company or companies  providing
such  insurance  shall be promptly  delivered to  Indemnitee by the Company upon
request of  Indemnitee.  The Company may, but will not be required to,  create a
trust fund,  grant a security  interest or use other  means  (including  without
limitation  a letter of credit) to ensure the payment of such  amounts as may be
necessary to satisfy its obligations to indemnify and advance expenses  pursuant
to this Agreement.

9. Subrogation.  In the event of payment under this Agreement,  the Company will
be  subrogated  to the extent of such  payment to all of the  related  rights of
recovery of Indemnitee  against other persons or entities.  The Indemnitee  will
execute  all  papers  reasonably  required  and will do  everything  that may be
reasonably necessary to secure such rights and enable the Company effectively to
bring suit to enforce  such rights  (all of  Indemnitee's  reasonable  costs and
expenses,  including attorneys' fees and disbursements,  to be reimbursed by or,
at the option of Indemnitee, advanced by the Company).

10. No  Duplication  of  Payments.  The  Company  will not be liable  under this
Agreement  to make any  payment  in  connection  with  any  claim  made  against
Indemnitee to the extent  Indemnitee  has otherwise  actually  received  payment
(under any insurance  policy,  the Articles,  or the Bylaws or otherwise) of the
amounts otherwise indemnifiable hereunder.

11. Joint Defense. Notwithstanding anything to the contrary herein contained, if
(a) Indemnitee  elects to retain counsel in connection with any Claim in respect
of which  indemnification  may be  sought  by  Indemnitee  against  the  Company
pursuant to this  Agreement and (b) any other director or officer of the Company
may also be subject to  liability  arising  out of such Claim and in  connection
with such Claim may seek  indemnification  against  the  Company  pursuant to an
agreement  similar  to this  Agreement,  Indemnitee,  together  with such  other
persons,  will employ counsel  reasonably  acceptable to all indemnities and all
such other persons to represent jointly Indemnitee and such other persons unless
the Board,  upon the written request of Indemnitee  delivered to the Company (to
the attention of the Secretary) setting forth in reasonable detail the basis for
such request, determines that such joint representation would be precluded under
the applicable  standards of professional  conduct then prevailing under the law
of the State of  Maryland,  in which  case  Indemnitee  will be  entitled  to be
represented  by  separate  counsel.  In the event that the Board fails to act on
such  request  within 30 calendar  days after  receipt  thereof by the  Company,
Indemnitee  will be deemed to be entitled to be represented by separate  counsel
in  connection  with such Claim and the  reasonable  fees and  expenses  of such
counsel shall be Expenses subject to this Agreement.

12. Successors and Binding Agreement.

          (a)  The  Company  will  require  any  successor  (whether  direct  or
     indirect, by purchase, merger, consolidation, reorganization, or otherwise)
     to all or  substantially  all of the business or assets of the Company,  by
     agreement in form and substance  satisfactory  to Indemnitee,  expressly to
     assume and agree to perform  this  Agreement  in the same manner and to the
     same extent the Company would be required to perform if no such  succession
     had taken  place.  This  Agreement  will be  binding  upon and inure to the
     benefit of the Company and any successor to the Company,  including without
     limitation any person acquiring directly or indirectly all or substantially
     all of the business or assets of the Company  whether by purchase,  merger,
     consolidation,  reorganization,  or  otherwise  (and  such  successor  will
     thereafter  be deemed the "Company"  for purposes of this  Agreement),  but
     will not  otherwise be  assignable,  transferable,  or  delegatable  by the
     Company.

          (b) This  Agreement will inure to the benefit of and be enforceable by
     the   Indemnitee's   personal   or   legal   representatives,    executors,
     administrators, successors, heirs, distributees, and legatees.

          (c) This  Agreement  is  personal in nature and neither of the parties
     hereto  will,  without  the  consent of the  other,  assign,  transfer,  or
     delegate this  Agreement or any rights or obligations  hereunder  except as
     expressly  provided  in  Sections  12(a) and 12(b).  Without  limiting  the
     generality  or  effect  of the  foregoing,  Indemnitee's  right to  receive
     payments  hereunder will not be assignable,  transferable,  or delegatable,
     whether by pledge,  creation of a security  interest,  or otherwise,  other
     than by a transfer by the  Indemnitee's  will or by the laws of descent and
     distribution  and,  in the event of any  attempted  assignment  or transfer
     contrary to this Section  12(c),  the Company will have no liability to pay
     any amount so attempted to be assigned, transferred, or delegated.

13. Notices. For all purposes of this Agreement,  all communications,  including
without  limitation  notices,  consents,  requests,  or  approvals,  required or
permitted  to be given  hereunder  will be in writing and will be deemed to have
been duly  given when hand  delivered  or  dispatched  by  electronic  facsimile
transmission  (with receipt  thereof  orally  confirmed),  or five calendar days
after having been mailed by United States  registered or certified mail,  return
receipt requested,  postage prepaid,  or one business day after having been sent
for next-day  delivery by a nationally  recognized  overnight  courier  service,
addressed to the Company (to the  attention of the  Secretary of the Company) at
its  principal  executive  office  and to  the  Indemnitee  at the  Indemnitee's
principal  residence as shown in the Company's most current records,  or to such
other  address as any party may have  furnished  to the other in writing  and in
accordance herewith, except that notices of changes of address will be effective
only upon receipt.

14. Governing Law. The validity,  interpretation,  construction, and performance
of this  Agreement  will be governed by and  construed  in  accordance  with the
substantive  laws  of the  State  of  Maryland,  without  giving  effect  to the
principles of conflict of laws of such State.

15.  Validity.  If any  provision of this  Agreement or the  application  of any
provision  hereof to any person or circumstance is held invalid,  unenforceable,
or otherwise  illegal,  the remainder of this  Agreement and the  application of
such provision to any other person or circumstance will not be affected, and the
provision so held to be invalid,  unenforceable,  or  otherwise  illegal will be
reformed  to  the  extent  (and  only  to  the  extent)  necessary  to  make  it
enforceable, valid, or legal.

16.  Miscellaneous.  No provision of this Agreement may be waived,  modified, or
discharged  unless  such  waiver,  modification,  or  discharge  is agreed to in
writing signed by Indemnitee  and the Company.  No waiver by either party hereto
at any time of any  breach by the other  party  hereto  or  compliance  with any
condition  or  provision  of this  Agreement to be performed by such other party
will be deemed a waiver of similar or dissimilar provisions or conditions at the
same or at any prior or subsequent time. No agreements or representations,  oral
or  otherwise,  expressed or implied with respect to the subject  matter  hereof
have been  made by  either  party  which  are not set  forth  expressly  in this
Agreement.  References  to  Sections  are to  references  to  Sections  of  this
Agreement.

17.  Counterparts.  This Agreement may be executed in one or more  counterparts,
each of which will be deemed to be an original  but all of which  together  will
constitute one and the same agreement.

                  [Remainder of page intentionally left blank]

<PAGE>

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

                                               OMEGA HEALTHCARE INVESTORS, INC.

                                      By:  _____________________________________
                                      Name:  ___________________________________
                                      Title: ___________________________________

                                      Name:  ___________________________INDEMNIFICATION AGREEMENT

     This   INDEMNIFICATION   AGREEMENT,   dated  as  of  July 14,   2000  (this
"Agreement"),  is  made by and  between  Omega  Healthcare  Investors,  Inc.,  a
Maryland  corporation (the "Company"),  and Explorer Holdings,  L.P., a Delaware
limited  partnership (the  "Stockholder"),  individually and on behalf of itself
and each of its Affiliates (the Stockholder  together with such Affiliates,  the
"Indemnified Parties").

                                    RECITALS

     A. The Company has requested that the Stockholder  enter into a substantial
business relationship, including a substantial equity investment in the Company.

     B. The Company recognizes the increased risk of litigation and other claims
being  asserted  against  substantial   shareholders  of  companies  in  today's
environment,  regardless of whether, in reality,  such litigation and claims are
valid and that there is a substantial  risk that a claimant  against the Company
or certain of its  Affiliates  will seek to impose  liability on an  Indemnified
Party.

     C. In recognition  of the foregoing,  the Company wishes to provide in this
Agreement  for the  indemnification  of and the  advancement  of Expenses to the
Indemnified Parties as set forth in this Agreement.

         NOW, THEREFORE, the parties hereby agree as follows:

     1. Certain Definitions.  In addition to terms defined elsewhere herein, the
following  terms have the following  meanings when used in this  Agreement  with
initial capital letters:

     (a)  "Affiliate"  has the meaning  given to that term in Rule 405 under the
Securities Act of 1933, as amended, provided, however, that for purposes of this
Agreement  the Company  and its  subsidiaries  will not be deemed to  constitute
Affiliates of any Indemnified Party or Indemnified Parties themselves.

     (b) "Claim"  means any  threatened,  pending or completed  action,  suit or
proceeding,  or any  inquiry  or  investigation,  whether  instituted,  made  or
conducted  by the Company or any other  party,  including  without  limitation a
governmental entity, and, including without limitation, any such action, suit or
proceeding,  inquiry or  investigation  that any  Indemnified  Party  reasonably
determines might lead to the institution of any such action, suit or proceeding,
whether civil, criminal, administrative, arbitrative, investigative or other.

     (c) "Expenses"  includes  reasonable  attorneys' and experts' fees, charges
and all other costs,  expenses and  obligations  paid or incurred in  connection
with investigating, defending, being a witness in or participating in (including
on appeal),  or  preparing  to defend,  be a witness in or  participate  in, any
Claim.

     (d)  "Indemnifiable  Losses" means any and all Expenses,  damages,  losses,
liabilities,   judgments,  fines,  penalties  and  amounts  paid  in  settlement
(including without  limitation all interest,  assessments and other charges paid
or  payable  in  connection  with  or  in  respect  of  any  of  the  foregoing)
(collectively, "Losses") relating to, resulting from or arising out of, directly
or  indirectly,  in whole or in part,  any  Claim in  respect  of any  action or
inaction  of the  Company,  any of its  Affiliates  or any of  their  respective
officers,   directors,   employees,   predecessors,   successors  and  assignees
(collectively,  "Company  Persons"),  and will  include,  without  limiting  the
generality  or effect of the  foregoing,  any Losses  suffered or incurred by an
Indemnified  Party relating to,  resulting  from or arising out of,  directly or
indirectly, in whole or in part, any Claim alleging that an Indemnified Party is
liable in whole or in part in respect of any action or  inaction  of any Company
Person under any theory of secondary liability,  including without limitation as
an alleged aider and abettor,  co-conspirator,  controlling person or principal,
or any theories of respondant superior, indemnity, contribution or other similar
theories.   Notwithstanding   anything  to  the   contrary  in  the   foregoing,
"Indemnifiable  Losses"  will not  include  (i) any Losses to the  extent  that,
pursuant to an express provision in any written contract between the Company and
the Stockholder or any of its Affiliates,  such  Indemnified  Party (and not the
Company)  is  liable  for such  Losses  and is not  entitled  to  recover  or be
indemnified  against  such Losses from the Company or such  Indemnified  Party's
rights to  recovery  or  indemnification  as are  otherwise  limited by any such
contract,  (ii) any Losses for which  indemnification  is otherwise  unavailable
pursuant to the terms hereof,  or (iii) Losses primarily  relating to, primarily
resulting from or primarily arising out of a knowing violation of law or willful
misconduct by a director of the Company  designated by the Stockholder  pursuant
to the  Stockholder  Agreement  by and between  the Company and the  Stockholder
dated as of the date hereof.

     2. Basic Indemnification  Arrangement.  The Company will indemnify and hold
harmless each Indemnified  Party against all  Indemnifiable  Losses relating to,
resulting from or arising out of any Claim. The failure by an Indemnified  Party
to notify  the  Company  of such Claim will not  relieve  the  Company  from any
liability  hereunder  unless,  and only to the extent that,  the Company did not
learn of the Claim and such failure  shall  materially  prejudice the ability of
the Company to defend such claims or otherwise  perfect  rights to any insurance
coverage relating thereto. The Indemnified Parties will have the right to select
one law firm (plus local counsel) of the Stockholder's choosing to represent all
Indemnified  Parties  in any  Claim  and all  Expenses  incurred  in  connection
therewith  will be advanced by the Company within ten business days of a request
therefor upon receipt of an undertaking by the  Indemnified  Parties  requesting
such  payment,  agreeing to repay any amounts  advanced  hereunder to the extent
that it is finally determined that such Indemnified  Parties are not entitled to
indemnification  for such Losses.  Without  limiting the generality or effect of
any other provision hereof, the parties expressly acknowledge that the foregoing
indemnity is intended to apply  regardless of the nature of the alleged  conduct
of the  Indemnified  Party,  including  without  limitation  actual  or  alleged
ordinary   or   gross   negligence,    recklessness   or   willful   misconduct.
Notwithstanding the foregoing,  upon a final,  nonappealable  determination by a
court of competent  jurisdiction in an action against an Indemnified  Party that
the Losses  relating to,  resulting  from or arising out of a Claim were related
primarily to, resulted primarily from or arose primarily out of such Indemnified
Party's gross negligence, recklessness or willful misconduct, the amount of such
Indemnified  Party's Indemnified Losses in respect of such Claim will be reduced
by the amount of such Losses and such Indemnified Party or the Stockholder shall
promptly reimburse the Company for all Losses previously  advanced to the extent
the Company shall have previously advanced amounts in excess of such Indemnified
Party's Indemnifiable  Losses,  provided that the aggregate of all reductions of
Indemnifiable Losses pursuant to this sentence during the term of this Agreement
will in no event  exceed  the  amount of the equity  investment  of  Stockholder
Affiliates in the Company made prior to the date such determination.

     3.  Partial  Indemnity.  If an  Indemnified  Party is  entitled  under  any
provision  of this  Agreement  to  indemnification  by the Company for some or a
portion of any  Indemnifiable  Loss but not for all of the total amount thereof,
the Company will  nevertheless  indemnify such Indemnified Party for the portion
thereof to which such Indemnified  Party is entitled.  Moreover,  subject to the
final sentence of Section 2 hereof,  to the extent that an Indemnified Party has
been  successful  on the  merits or  otherwise  in  defense of any or all Claims
relating in whole or in part to an Indemnifiable Loss or in defense of any issue
or matter therein,  including without  limitation  dismissal without  prejudice,
such  Indemnified  Party will be  indemnified  against all Expenses  incurred in
connection  therewith.  In connection  with any  determination  as to whether an
Indemnified  Party is  entitled  to be  indemnified  hereunder,  there will be a
presumption that such Indemnified  Party is so entitled,  which  presumption the
Company may overcome only by its adducing clear and  convincing  evidence to the
contrary.

     4. No Other  Presumption.  For  purposes of this  Agreement,  except as set
forth in Section 3, the termination of any Claim by judgment,  order, settlement
(whether with or without court  approval) or conviction,  or upon a plea of nolo
contendere  or its  equivalent,  will not in and of itself  create a presumption
that an  Indemnified  Party did not meet any  particular  standard of conduct or
have any particular  belief or that a court has determined that  indemnification
is not permitted by applicable law.

     5.  Non-Exclusivity.  The rights of the Indemnified Party hereunder will be
in  addition  to any other  rights the  Indemnified  Parties  may have under the
Company's  constituent  documents,   or  the  laws  of  the  Company's  or  such
Indemnified Party's  jurisdiction of incorporation,  any other contract,  law or
otherwise (collectively, "Other Indemnity Provisions");  provided, however, that
(i) to the extent that an  Indemnified  Party  otherwise  would have any greater
right to indemnification  under any Other Indemnity  Provision,  the Indemnified
Party will be deemed to have such greater right hereunder and (ii) to the extent
that any change is made to the Other  Indemnity  Provisions  which  permits  any
greater right to  indemnification  than that provided under this Agreement as of
the date hereof,  an Indemnified Party will be deemed to have such greater right
hereunder. The Company will not adopt any amendment to its constituent documents
or take any other  action the effect of which  would be to deny or  diminish  an
Indemnified  Party's right to indemnification  under this Agreement or the Other
Indemnity Provisions.

     6. Liability Insurance and Funding. To the extent that an Indemnified Party
has available to it any  insurance  purchased by the Company,  such  Indemnified
Party  or  any  other  Indemnified  Party,  such  insurance  and  the  Company's
obligations  hereunder will not be affected by, respectively,  this Agreement or
such  insurance,  it being the  intention of the parties that every  Indemnified
Party  have as great of  protection  as it can have  against  all  Indemnifiable
Losses.

     7.  Subrogation.  In the  event  of  payment  under  this  Agreement  to an
Indemnified Party, the Company shall be subrogated to the extent of such payment
to all of the related rights of recovery of such Indemnified Party against other
persons or entities other than the  Stockholder or any Affiliate  thereof.  Such
Indemnified Party will execute all papers  reasonably  required to evidence such
rights  (all  of  the  Indemnified  Parties'  reasonable   Expenses,   including
attorneys'  fees and  charges,  to be  reimbursed  by or,  at the  option of the
Stockholder, advanced by the Company).

     8.  Settlement of Claims.  The Company will not,  without the prior written
consent of an  Indemnified  Party,  effect any  settlement of any  threatened or
pending Claim to which such Indemnified  Party is a party unless such settlement
solely  involves the payment of money and includes an  unconditional  release of
such  Indemnified  Party from all  liability  on any claims that are the subject
matter of such Claim.

     9. No  Duplication  of Payments.  The Company will not be liable under this
Agreement  to make any  payment in  connection  with any claim  made  against an
Indemnified  Party to the extent such Indemnified  Party has otherwise  actually
received  payment  (under  any  insurance  policy,  the  Company's  Articles  of
Restatement,  as amended,  the  Company's  Bylaws or  otherwise)  of the amounts
otherwise indemnifiable hereunder.

     10.  Successors  and Binding  Agreement.  (a) The Company  will require any
successor  (whether  direct or  indirect,  by purchase,  merger,  consolidation,
reorganization  or  otherwise)  to all or  substantially  all of the business or
assets of the Company,  by agreement in form and substance  satisfactory  to the
Indemnified Parties,  expressly to assume and agree to perform this Agreement in
the same manner and to the same extent the Company  would be required to perform
if no such  succession had taken place.  This Agreement will be binding upon and
inure to the benefit of the Company and any successor to the Company,  including
without   limitation  any  person  acquiring   directly  or  indirectly  all  or
substantially  all of the business or assets of the Company whether by purchase,
merger,  consolidation,  reorganization  or otherwise  (and such  successor will
thereafter be deemed the "Company" for purposes of this Agreement), but will not
otherwise be assignable or delegatable by the Company.

     (b) This Agreement will inure to the benefit of and be enforceable by any
successor  (whether  direct or  indirect,  by purchase,  merger,  consolidation,
reorganization  or  otherwise)  to all or  substantially  all of the business or
assets of the Indemnified Parties and their personal or legal successors.

     (c) This  Agreement  is personal  in nature and none of the parties  hereto
will, without the consent of the other party or parties, assign or delegate this
Agreement or any rights or obligations hereunder except as expressly provided in
Sections 9(a) and 9(b).

     (d) Each  past,  present  or  future  Affiliate  of the  Stockholder  is an
intended third-party  beneficiary of this Agreement  (regardless of whether such
person or entity ceased or ceases to be an Affiliate of the  Stockholder but not
including entities that have not been Affiliates of the Stockholder for a period
of more than two years prior to the date of this Agreement), and as such will be
entitled to indemnity  hereunder  as if it were a party  hereto  except that the
Stockholder  will  have the  sole  right to make  all  decisions  hereunder  and
otherwise administer this Agreement on behalf of all such persons or entities.

     11.  Notices.   For  all  purposes  of  this  Agreement,   all  notices  or
communications which are required or permitted hereunder shall be in writing and
sufficient if delivered by hand or by facsimile  transmission,  by registered or
certified  mail,  postage  prepaid or by courier or  overnight  carrier,  to the
persons at the addresses  shown on the signature  page hereof,  or to such other
address as the  Company or the  Stockholder  may furnish to the other in writing
and in  accordance  herewith,  except that notices of changes of address will be
effective only upon receipt.

     12.   Governing  Law.  The  validity,   interpretation,   construction  and
performance  of this  Agreement  will be governed by and construed in accordance
with the substantive laws of the State of Delaware, without giving effect to the
principles  of  conflict  of  laws  of  such  State.   Each  party  consents  to
non-exclusive  jurisdiction of any Delaware  federal or state court or any court
in any other  jurisdiction  in which a Claim is  commenced by a third person for
purposes of any action,  suit or procedure  hereunder,  waives any obligation to
venue therein or any defense based on forum non  conveniens or similar  theories
and agrees that service of process may be effected in any such  action,  suit or
proceeding by notice given in accordance with Section 12.

     13. Validity.  If any provision of this Agreement or the application of any
provision hereof to any person or circumstance is held invalid, unenforceable or
otherwise  illegal,  the remainder of this Agreement and the application of such
provision to any other  person or  circumstance  will not be  affected,  and the
provision  so held to be invalid,  unenforceable  or  otherwise  illegal will be
reformed  to  the  extent  (and  only  to  the  extent)  necessary  to  make  it
enforceable, valid or legal.

     14. Miscellaneous.  No provision of this Agreement may be waived,  modified
or  discharged  by or with respect to an  Indemnified  Party unless such waiver,
modification  or  discharge is agreed to in writing  signed by such  Indemnified
Party and the  Company.  No waiver  by  either  party  hereto at any time of any
breach by the other party hereto or  compliance  with any condition or provision
of this Agreement to be performed by such other party will be deemed a waiver of
similar or  dissimilar  provisions  or conditions at the same or at any prior or
subsequent time. No agreements or representations,  oral or otherwise, expressed
or implied  with respect to the subject  matter  hereof have been made by either
party  which  are not set  forth  expressly  in this  Agreement.  References  to
Sections are to references to Sections of this Agreement.

     15.   Counterparts.   This  Agreement  may  be  executed  in  two  or  more
counterparts,  each of which will be deemed to be an  original  but all of which
together will constitute one and the same agreement.

     16.  Legal  Fees and  Expenses.  It is the intent of the  Company  that the
Indemnified  Party  not be  required  to  incur  legal  fees or  other  Expenses
associated  with the  interpretation,  enforcement or defense of the Indemnified
Parties' rights under this Agreement by litigation or otherwise because the cost
and expense thereof would substantially detract from the benefits intended to be
extended to the Indemnified Parties hereunder. Accordingly, without limiting the
generality  or  effect  of  any  other  provision  hereof,  if  the  Stockholder
reasonably  determines  that the  Company  has failed to comply  with any of its
obligations  under this  Agreement or in the event that the Company or any other
person takes or threatens to take any action to declare this  Agreement  void or
unenforceable,  or  institutes  any  litigation  or other  action or  proceeding
designed  to deny,  or to  recover  from,  any  Indemnified  Party the  benefits
provided or intended to be provided to the Indemnified  Parties  hereunder,  the
Company  irrevocably  authorizes  the  Stockholder  from  time to time to retain
counsel of the Stockholder's  choice, at the expense of the Company as hereafter
provided, to advise and represent the Indemnified Parties in connection with any
such  interpretation,  enforcement or defense,  including without limitation the
initiation or defense of any  litigation  or other legal  action,  whether by or
against  the  Company or any  director,  officer,  shareholder  or other  person
affiliated  with  the  Company,  in any  jurisdiction.  To the  extent  that  an
Indemnified  Party prevails,  in whole or in part, in connection with any of the
foregoing,  the Company will pay and be solely  financially  responsible for any
and all  attorneys' and related fees and expenses  incurred by such  Indemnified
Party in connection  with any of the foregoing;  provided,  however,  that in no
event will the Company be financially  responsible  for such attorneys' fees and
expenses if (1) a final,  nonappealable  determination  by a court of  competent
jurisdiction  has  determined  that the Losses  relating to,  resulting  from or
arising out of a Claim were related  primarily to,  resulted  primarily  from or
arose primarily out of the Indemnified Party's gross negligence, recklessness or
willful misconduct, (2) the Company has previously reimbursed or indemnified the
Stockholder or its Affiliates for such Losses, and (3) the Company has initiated
proceedings to recover such funds.

     17. Certain  Interpretive  Matters.  No provision of this Agreement will be
interpreted in favor of, or against,  any of the parties hereto by reason of the
extent to which  any such  party or its  counsel  participated  in the  drafting
thereof.

     18. Term.  This  Agreement  will  terminate  and be of no further force and
effect  on the  tenth  anniversary  of the  date  when the  Stockholder  and its
Affiliates, taken as a whole, beneficially own less than 10% of the common stock
of the Company (calculated on the basis of the assumed conversion or exchange of
any securities then convertible or exchangeable for, and the assumed exercise of
any  securities  then  exercisable  to acquire,  the Company's  common stock but
excluding from such calculation the conversion, exchange or exercise of any such
securities  then  held  by any  person  not  entitled  to the  benefits  of this
Agreement) and less than 10% of the consolidated  indebtedness  (excluding trade
debt) in the Company,  except that the  termination  of this  Agreement will not
affect any Indemnified  Parties' rights hereunder for Claims based on the action
or inaction of any  director,  officer or employee of the Company  prior to such
termination.

                            [Signature page follows]

<PAGE>

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

                                               OMEGA HEALTHCARE INVESTORS, INC.

                                              By:    /s/ Susan Allene Kovach
                                                     -------------------------
                                              Name:   Susan Allene Kovach
                                              Title:  Vice President

                                              EXPLORER HOLDINGS, L.P.

                                              By:      Explorer Holdings,
                                                       GenPar, LLC, its General
                                                       Partner
                                             (on behalf of itself and all other
                                              Indemnified Parties)

                                              By:  /s/ William T. Cavanaugh, Jr.
                                                   -----------------------------
                                              Name:   William T. Cavanaugh, Jr.
                                              Title:  Vice President

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