Document:

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                                                                   EXHIBIT 10.25

                          AMERICAN MEDCARE CORPORATION
                             1994 STOCK OPTION PLAN

I.       PURPOSE

         The American Medcare Corporation 1994 Stock Option Plan is an incentive
to encourage stock ownership by officers and other key employees of the
Corporation, of its Subsidiaries and of its Affiliates in order to provide them
with a proprietary interest or to increase their proprietary interest in the
corporation's success and/or to encourage them to remain in the employ of the
Corporation or any of its Subsidiaries.

II.      DEFINITIONS

         Where the following words appear in this Plan, they shall have the
respective meanings set forth below, unless their context clearly indicates a
contrary meaning:

         A. Affiliate - Any corporation or other business organization in which
the Parent owns, directly or indirectly, 25% or more of the voting stock or
capital at the time of the granting of the Option.

         B. Board of Directors - The Board of Directors of the Corporation.

         C. Code - The Internal Revenue Code of 1986, as amended, included
amendments hereafter adopted.

         D. Committee - The Compensation Committee of the Board of Directors or
any successor Committee appointed by the Board of Directors and in the absence
of the appointment of such committee, the Board of Directors of the corporation
which shall exercise all of the powers of the Committee.

         E. Corporation - American Medcare Corporation, a Delaware corporation,
that is the parent corporation as defined in Subsections 424(e) and (g) of the
code.

         F. Employee - Employee shall mean any officer or other key employee
(including an officer or other key employee who is also a director) employed on
a full-time basis by the corporation or any present or future Parent of
Subsidiary or Affiliate.

         G. ISO - An option granted under the Plan which constitutes an
incentive stock option within the meaning of Section 422 of the Code.

         H. Non-Qualified Stock Option - An option granted under the Plan which
does not qualify as an ISO.

         I. Option - An option granted under the Plan which may be either an ISO
or a Non-Qualified Stock Option.

         J. Option Agreement - The document setting forth the terms and
conditions of each Option.

         K. Optionee - The holder of an Option.

         L. Parent - Parent shall mean any present or future corporation as
defined in Subsections 424(e) and (g) of the code.

         M. Plan - American Medcare Corporation 1994 Stock Option Plan, as the
same may be amended from time to time in accordance with the terms hereof.

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         N. Shares - The shares of common stock of the corporation, $0.001 par
value, subject to adjustment as provided in Paragraph V of the Plan.

         O. Subsidiary - Any present or future subsidiary of the corporation as
defined in Subsections 424(f) and (g) of the code.

III.     ADMINISTRATION

         A. The committee shall have full and complete authority in its sole
discretion, but subject to the express provisions of the Plan, to grant Options,
to determine the option price of the shares covered by each Option, the
Employees of the Corporation, of its subsidiaries and of its affiliates to whom,
and the time or times at which, Options shall be granted and number of Shares to
be covered by each Option; to interpret the Plan; to prescribe, amend and
rescind rules and regulations relating to the Plan to determine the terms and
conditions of the respective option grant (which terms need not be identical);
to cancel and amend Options (with the consent of the holder of the option where
required); to impose such conditions on the grant of Options as it determines to
be appropriate, including the surrender of outstanding stock options issued
under Plan or any other stock options, regardless of the option price; and to
make all other determinations and rules and the such other action deemed
necessary or advisable for the administration of the Plan. In addition, the
Committee may extend the duration of any Option for a period not to exceed one
year subject to the provisions of Section VI B without changing the option price
upon such terms as the committee may deem advisable.

         Each determination, interpretation, rule or other action made or taken
pursuant to the Plan by the Committee shall be final and conclusive for all
purposes and upon all persons, including but without limitation thereto, the
corporation, subsidiaries, affiliates, the Board of Directors, the Committee,
Optionees and Employees of the Corporation, its Subsidiaries and its affiliates
and Optionees and their respective successors in interest.

         B. The committee shall consist of not less than (2) directors, Each
member of the Committee shall be a member of the Board of directors who is not
eligible to participate under the Plan and who has not been granted or awarded
equity securities of the Corporation for at least one year prior to the time the
director becomes a member of the committee or during such services on the
Committee pursuant to the Plan or any other plan within the meaning of Rule
16b-3 promulgated under the Securities Exchange Act of 1934 (634 Act), except as
otherwise permitted under Rule 16b-3 (or any successor rule or regulation).

         The Board of Directors may designate one (1) of the members of the
committee as its chairman and the Committee shall hold its meetings at such
times and places as it shall deem advisable. A majority of its members shall
constitute a quorum. All determinations of the Committee shall be made by a
majority of its members present at a meeting at which a quorum was present. Any
decision or determination reduced to writing and signed by all the members of
the Committee shall be effective as if it had been made by a vote at a meeting
duly called and held. The committee shall keep minutes of its meetings and shall
make such rules and regulations for the conduct of its business as it shall deem
advisable.

         C. No member of the Committee shall be liable for any action or
determination made in good faith with respect to the administration of the Plan
and the granting of Options thereunder.

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IV.      ELIGIBILITY AND LIMITATIONS

         Options may be granted only to Employees of the corporation or of any
Subsidiary or Parent or Affiliate. Persons who are not Employees of the
corporation or of a Subsidiary or Parent will not be eligible to receive as ISO.
In determining the number of shares to be covered by each Option, subject to
Paragraph V. hereof, and persons whom Options shall be granted, the Committee
shall take into account such factors as it shall deem relevant in connection
with accomplishing the purpose of the Plan as set forth in Paragraph I hereof
Any person who has been granted an Option may be granted an additional Option or
Options if the Committee shall so determine. No ISO shall be granted to an
individual who, at the time an ISO is granted, owns (within the meaning of
Section 422(b)(6) of the Code) stock possessing more than 10% of the total
combined voting power of all classes of stock of the Corporation or of its
Parent or any Subsidiary, unless, at the times the ISO is granted, the option
price is at least 110 percent (110%) of the fair market value of the Shares
subject to the ISO and the ISO by its terms is not exercisable after the
expiration of five (5) years from the date the ISO is granted. The aggregate
fair market value (determined as of the time an ISO is granted) of the Shares
with respect to which ISOs are exercisable for the first time by the Optionee
during any calendar year (under all plans of the corporation and the Parent and
Subsidiaries, if any) shall not exceed $100,000. ISOs granted to an Optionee in
excess of such limitation of or any calendar year shall be deemed to be a
Non-Qualified Stock Option. Each Option must be granted within ten (10) days
from the date on which the Plan is adopted by the board of Directors.

V.       AVAILABLE SHARES AND STOCK ADJUSTMENTS

         A. The total number of Shares that may be issued pursuant to Options
granted under this Plan shall not exceed 5,000,000 Shares of Common Stock,
subject to adjustment as set forth hereinafter. Shares subject to the Plan may
be either authorized but unissued Shares or Shares that were once issued and
subsequently reacquired by the Corporation. If any Option is surrendered before
exercise of lapses without exercise or for any other reason ceases to be
exercisable, the Shares reserved therefore shall continue to be available under
the Plan. The Corporation will reserve and keep available a sufficient number of
authorized but unissued shares and/or treasury shares to be issued upon the
exercise of the options.

         B. In the event of a stock split, reverse stock split, stock dividend,
combination of Shares or a reclassification of the shares or other similar
action by the Corporation, the total number of Shares which may be issued under
the Plan upon the exercise of Options and the total number of shares and/or the
option price contained in any outstanding Option pursuant to which options were
granted under this Plan, shall be appropriately adjusted as determined by the
Board of Directors in its sole discretion. Any such adjustment in the number of
Shares and/or option price of an ISO shall be made in such a manner as to not
constitute a modification as defined in Subsection 424(h)(3) of the code an only
to the extent permitted by Sections 422 and 425 of the Code.

         C. In the event of any merger or consolidation or other reorganization
in which the Corporation shall be surviving corporation and its shareholders
have a right to receive (or retain), in whole or in part, equity securities for
the outstanding Shares held, each holder of an outstanding Option shall be
entitled to receive, upon the exercise of the Option, in lieu of the number of
Shares as to which such holder of the Option would otherwise have been entitled
to receive upon the exercise of the Option immediately prior to such merger or
consolidation or other reorganization, the number and class of shares or other
securities and consideration to which such holder of the Option would have been
entitled pursuant to the terms of the merger or consolidation or other
reorganization, such is then being so exercised. Comparable rights shall accrue
to each holder of an Option in the event of successive mergers or consolidations
or other reorganization.

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         D. In the event of any merger or consolidation or other reorganization,
in which the shareholders of the corporation shall not receive (or retain) any
equity securities of the surviving corporation for their Shares, regardless of
whether the corporation is the surviving corporation, or upon the dissolution or
liquidation of the corporation, except as hereinafter set forth, all Options
(whether or not vested in whole or in part) which have not been exercised prior
to such event, shall terminate upon such event unless and to the extent the
Board of Directors shall have provided for the substitution of other options
for, or for the assumption by another corporation of, any unexercised options
then outstanding. Such action by the Board of directors may be taken with
respect to ISO only to the extent permitted by the Code, including Sections 422
and 424, unless the Options are or are to become Non-Qualified Stock Options.
Except to the extent the Board of Directors shall have provided for the
substitution of other options for, or for the assumption by another corporation
of, any unexercised Option then outstanding or shall have specifically otherwise
provided as permitted by this subparagraph D, the Options which have not vested
shall not become exercisable prior to such event and all outstanding Options
shall expire upon such event.

         E. In the event of any merger or consolidation or other reorganization
in which the Corporation is not the surviving corporation and in which its
shareholders shall receive equity securities (regardless of whether they receive
other consideration for their Shares, each holder of an outstanding Option shall
be entitled to receive, upon the exercise of the Option, in lieu of the number
of shares as to which such holder of the Option would otherwise have been
entitled to receive upon the exercise of the Option immediately prior to such
merger or consolidation or other reorganization, the number and class of shares
and other securities and consideration to which such holder of the Option would
have been entitled pursuant to the terms of the merger or consolidation or other
reorganization if, at the time of such merge or consideration or other
reorganization, such holder of the Option had been the holder of record of a
number of Shares equal to the number of Shares to which such Option is then
being so exercised. Comparable rights shall accrue to each holder of an Option
in the event of successive mergers or consolidations or reorganizations.

         F. Any adjustments pursuant to this Paragraph V may provide for the
elimination of any fractional interest which might otherwise become subject to
an option, with or without consideration, as determined by the Board of
Directors of the corporation.

VI.      OPTION TERMS

         The Options will be granted under terms and conditions set forth in a
written instrument as determined by the Committee from time to time, which will
include (but no by way of limitation) the following:

         A. Price and Payment - the purchase price of each Share covered by each
Option shall be determined by the Committee. The purchase price of each share
covered by an ISO shall not be less than the fair market value of a Share at the
time of the granting of the Option. The fair market value of a Share shall be
determined without regard to any restriction other than restrictions which by
their terms will never lapse. The purchase price of the Shares for which an
Option shall be exercised shall be paid in full at the time of the exercise in
cash or by check, subject to collection. The Committee may also provide that the
purchase price may be paid in whole in in part by assigning to the corporation a
number of shares having a fair market value, determined as of the date the
Option is exercised, equal to the cash amount of the option price for the Shares
being acquired upon the exercise of the Option. In such event, the committee
may, in its sole discretion, require certain representations and other
conditions precedent to the acceptance of the Shares form the Optionee.

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         B. Duration - The duration of the Options shall be determined by the
Committee but in no event shall an Option granted hereunder be exercisable after
the earliest of any of the following dates (i) the expiration of the (1O) years
from the date the Option is granted; (ii) one (1) year after the cessation of
employment, engagement or officership, as the case may be, of the holder of the
Option with the corporation, any subsidiary, or the Part or Affiliate, except in
the event of termination of such employment or engagement or election, as the
case may be, due to death, or disability (within in the meaning of Section
422(c)(6) of the code). The committee's determination as to whether such
employment, engagement or election of an Optionee has ceased and the effective
date thereof shall be final and conclusive on all persons affected thereby.
Whether military or other government or eleemosynary service or other leave of
absence will constitute termination of such employment, engagement or election
shall be determined in each case by the committee in its sole discretion.

         C. Non-transferability - Options granted under the Plan shall not be
transferable otherwise than by will or the laws of descent and distribution or
as otherwise permitted pursuant to Section 424(c)(4) of the Code (or any
successor provision). Options may be exercised during the lifetime of the
Optionee only by the Optionee personally or by the Optionee's legal
representative.

         D. Exercise of Option - Options granted hereunder shall be exercisable
in whole or in part as determined by the Committee.

         E. Conditions to Exercise of Options - Shares shall not be issued with
respect to any Option granted under the Plan unless the issuance and delivery of
such Shares shall comply with (or be exempt from) all relevant provisions of
law, including, without limitation, the Securities Act of 1933, as amended, the
rules and regulations promulgated thereunder, any applicable state securities
law, and the requirements of any stock exchange or nation market system on which
the Shares may then be listed. If the issuance or transfer of Shares to be
issued or issued pursuant to any Option granted under this Plan may in the
opinion of counsel to the corporation conflict or be inconsistent with any
applicable law or regulation of any governmental agency having jurisdiction,
including, without limitation, federal and state securities laws, the
Corporation reserves the right to delay the issuance of the Shares upon the
exercise of an Option and such delay shall be without liability to or other
obligation of the corporation, the Corporation shall have no obligation
hereunder to file registration statements or other reports or notices or obtain
any license or permit or exemption under any federal or state law with respect
to the grant of an Option or the issuance of Shares upon the exercise of an
Option or the transfer of such Shares at any time thereafter. The Board of
directors or Committee may require that the holder of an Option, as a condition
to each exercise of the Option in whole on in part, to represent to the
corporation in writing that the Shares to be acquired upon the exercise of the
Option are to be acquired by the holder of the Option for investment purposes
only, for such person's own account, and not with an view to distribution and
make such other representations as counsel to the corporation may reasonably
request to assure the availability of an exemption from or compliance wit the
registration, notice, reporting or licensing requirements of applicable federal
or state securities laws. The Option may also set forth such other terms and
conditions relating to the non-registration or qualification of the Shares or
the issuance or transfer of the Shares by the Corporation under the federal and
state securities laws, as the Board of Directors or Committee may prescribe.
Such representations and other terms and conditions shall continue in effect as
long as counsel to the corporation may reasonably request.

         F. Disposition of Shares - In the event the disposition of Shares
acquired upon the exercise of any Option is not covered by a then current
registration statement under the Securities Act of 1933, as amended, and under

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state securities laws, the Shares so purchased shall be restricted against
transfer to the extent and for as long as required by such laws and regulations
promulgated thereunder or until, and as long as, the Shares are covered by
applicable registration statements filed by the Corporation in its sole
discretion.

         G. Tax Withholding - The corporation may, in its sole discretion and on
terms it shall determine, withhold, or grant to an Optionee the right to elect
to have withhold, Shares having a fair market value not in excession of the
amount necessary to satisfy the withholding tax obligations of the Optionee, in
whole or in part, relating to the exercise of the Option. Any election granted
to an executive officer (as defined pursuant to rules promulgated under the 1934
Act) or director or the Parent shall only be made during the period set forth in
Rule 16b-3 promulgated under the 1934 Act (or any successor rule or regulation.

VII.     EXERCISE

         An Option granted hereunder shall be exercisable in whole or in part
only by written notice delivered in person or by mail to the President of the
Corporation at its principal executive office, specifying the number of Shares
to be purchased and accompanied by payment therefore and other consideration in
accordance with the Option. The holder of an Option shall not be deemed to be a
holder of any Shares subject to any Option and shall not be entitled to the
rights of a holder of any shares, including the right to receive dividends,
unless and until such Shares have been issued.

VIII.    TERMINATION AND AMENDMENT

         The Board of Directors may at any time terminate the Plan, or make such
amendments thereto or modifications thereof as it shall deem advisable,
including amendments deemed necessary or desirable to conform any ISO to any
change in the Code regulations thereto; provided, however, that the Board of
Directors may not, without further approval by the shareholders of the
Corporation, increase the maximum number of Shares for which options may be
granted under the Plan or change the designation of the class of employees and
other persons eligible to receive Options. No termination, modification or
amendment of the Plan shall, without the consent of the person to whom an Option
shall theretofore have been granted, adversely affect the rights of such person
under such Option without such person's consent.

IX.      MISCELLANEOUS

         Applicable Law. The Plan shall be governed and construed in accordance
with the laws of the State of Georgia.

         Employee/Employer Rights. The granting of Options hereunder shall be
entirely discretionary and noting in the Plan shall be deemed to give any
Employee any right of continued employment, engagement or officership, as the
case may be, or give any person any fight to receive Options or additional
Options hereunder or interfere in any way with the right of the Corporation, its
Parent or Subsidiary to terminate the Optionee's employment, engagement or
election, as the case may be, for any reason or the right of the Employee to
terminate his/her employment, engagement, or officership, as the case may be,
for any reason.

         ISO Grants. This Plan is intended to provide in part for the grant in
incentive stock options pursuant to Section 422 of the code, including
amendments thereto hereafter adopted, and the provisions of the Plan as they
relate to ISOs and the ISOs granted shall be construed to effectuate such
purpose. If for any reason it is subsequently determined that an Option

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intended to qualify as an ISO does not so qualify, the Corporation, Parent and
Subsidiary shall have no liability to the Optionee and such Options shall be
deemed to be Non-Qualified Stock Options.

X.       EFFECTIVE DATE

         The Plan shall become effective on the date of this adoption by the
Board of Directors subject to the approval of the Plan by the shareholders of
the Corporation within twelve (12) months after the date of its adoption. The
date of granting of an Option shall be the date on which the Committee makes the
determination of granting such Option or such later date as designed by the
Committee.<PAGE>   1

                           COAST DENTAL SERVICES, INC.
                                  EXHIBIT 10.21

                   AMENDED AND RESTATED EMPLOYMENT AGREEMENT

         THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT, dated as of the 21st
day of October, 1999 (the "Agreement"), by and between COAST DENTAL SERVICES,
INC., a Delaware corporation, (the "Company"), and WILLIAM H. GEARY, III, (the
"Executive").

         WHEREAS, the Company is presently engaged in the business of providing
dental practice management services and related services to dental practice
groups and other dental care providers;

         WHEREAS, the Executive has served as the Company's Controller, pursuant
to that Original Employment Agreement dated September 15, 1997 (the "Original
Employment Agreement"), and has served as a senior management employee and has
the experience and skills to serve as the Chief Financial Officer of the
Company;

         WHEREAS, the Company wishes to assure itself of the continued services
of the Executive through this Agreement and the Executive is willing to serve in
the employ of the Company for such period upon the terms and conditions
hereinafter set forth.

         NOW THEREFORE, in consideration of the mutual covenants herein
contained, the parties, intending to be legally bound, hereby agree as follows:

     1.  EMPLOYMENT

         Through this Agreement, the Company hereby agrees to continue to employ
the Executive upon the terms and conditions herein contained, and the Executive
hereby agrees to accept such employment for the term described below. The
Executive agrees to serve as the Company's Chief Financial Officer, and to
perform the duties and functions customarily performed by the Chief Financial
Officer of a publicly traded practice management corporation during the term of
this Agreement. In such capacity, the Executive shall report only to the
Company's Chief Executive Officer, President and Board of Directors, and shall
have such powers and responsibilities consistent with his position as the CEO
and Board may assign to him.

         Throughout the term of this Agreement, the Executive shall devote his
best efforts and substantially all of his business time and services to the
business and affairs of the Company.

     2.  TERM OF AGREEMENT

         The three (3) year initial term of the Executive employment under this
Agreement shall commence as of October 21, 1999 (the "Effective Date"). After
the expiration of such initial three (3) year employment period, the term of the
Executive's employment hereunder shall automatically be extended without further
action by the parties for successive one (1) year renewal terms, provided that
if either party gives the other party at least thirty (30) days advance written
notice of his or its intention to not renew this Agreement for an additional
term, the Agreement shall terminate upon the expiration of the current term.

         Notwithstanding the foregoing, the Company shall be entitled to
terminate this Agreement immediately, subject to a continuing obligation to make
any payments required under Section 5 below, if the Executive (i) becomes
disabled as described in Section 5(b), (ii) is terminated for Cause, as defined
in Section 5(c), or (iii) voluntarily terminates his employment before the
current term of this Agreement expires, as described in Section 5(d).

                                      -1-
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     3.  SALARY

         (a) Salary. The Executive shall receive a base salary during the term
of this Agreement at a rate of not less than $150,000 per annum during the first
year of the term of this Agreement. This base salary shall be payable in
installments consistent with the Company's normal payroll schedule. The
Compensation Committee of the Board shall review this base salary at annual
intervals, and may adjust the Executive's annual base salary from time to time
as the Committee deems to be appropriate.

     4.  ADDITIONAL COMPENSATION AND BENEFITS

         The Executive shall receive the following additional compensation and
welfare and fringe benefits:

         (a) Stock Options. During the term of the Agreement and at the
discretion of the Compensation Committee of the Company's Board of Directors,
the Executive may be granted stock option awards under the Company's 1995 Stock
Option Plan.

         (b) Medical Insurance. The Company, in accordance with its standard and
customary benefits policies and procedures, shall provide the Executive with
access to health insurance coverage.

         (c) Educational Leave and Expenses. The Executive shall be entitled to
up to five (5) days educational leave annually to devote to continuing
professional education, maintaining his CPA certification or other attendance at
other seminars related to his professional development. The Company shall
reimburse the Executive for expenses of up to $3,000 per year incurred by the
Executive while attending educational meetings and for professional publications
and association memberships.

         (d) Vacation. The Executive shall be entitled to up to two weeks of
vacation during his first year of employment and three weeks for each year
thereafter during the term of this Agreement and any extensions thereof,
prorated for partial years.

         (e) Business Expenses. The Company shall reimburse the Executive for
all reasonable expenses he incurs in promoting the Company's business, including
expenses for travel, entertainment of business associates and similar items;
provided, however, the Executive shall render to the Company a complete and
accurate accounting of all such expenses in accordance with the substantiation
requirements of Section 274 of the Internal Revenue Code of 1986, as amended.

         In addition to the benefits provided pursuant to the preceding
paragraphs of this Section 4, the Executive shall be eligible to participate in
such other executive compensation and retirement plans of the Company as are
applicable generally to other officers, and in such welfare benefit plans,
programs, practices and policies of the Company as are generally applicable to
other key employees.

     5.  PAYMENTS UPON TERMINATION

         (a) Involuntary Termination. If the Executive's employment is
terminated by the Company during the term of this Agreement, the Executive shall
be entitled to receive his base salary accrued through the date of termination.
The Executive shall also receive any nonforfeitable benefits already earned and
payable to him under the terms of any deferred compensation, incentive or other
benefit plan maintained by the Company, payable in accordance with the terms of
the applicable plan.

                                      -2-
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         If the termination is not for death, disability as described in
paragraph (b), for Cause as described in paragraph (c) or a voluntary
termination by the Executive as described in paragraph (d), the Company shall
also be obligated to make a series of monthly payments to the Executive for each
month during the remaining term of this Agreement, but not less that twelve (12)
months. Each monthly payment shall be equal to one-twelfth (1/12th) of the
Executive's annual base salary, as in effect on the date of termination,
provided that if the Executive obtains a replacement position with any new
employer (including a position as an officer, employee, consultant, or agent, or
self-employment as a partner or sole proprietor), the payments shall be reduced
by all amounts the Executive receives as compensations for services performed
during such period.

         (b) Disability. The Company shall be entitled to terminate this
Agreement, if the Board determines that the Executive has been unable to attend
to his duties for at least ninety (90) days because of a medically diagnosable
physical or mental condition, and has received a written opinion from a
physician acceptable to the Board that such condition prevents the Executive
from resuming full performance of his duties and is likely to continue for an
indefinite period. Upon such termination, the Company shall pay to Executive a
monthly disability benefit equal to one-twelfth (1/12th ) of his current annual
base salary at the time he became permanently disabled. Payment of such
disability benefit shall commence on the last day of the month following the
date of the termination by reason of permanent disability and cease with the
earliest of (i) the month in which the Executive returns to active employment,
either with the Company or otherwise, (ii) the end of the initial term of this
Agreement, or the current renewal term, as the case may be, or (iii) the sixth
month after the date of the termination. Any amounts payable under this Section
5(b) shall be reduced by any amounts paid to the Executive under any long-term
disability plan or other disability program or insurance policies maintained or
provided by the Company. The Employee is unaware of any existing medical factors
for which he has been diagnosed which are likely to create an event of
disability during this term.

         (c) Termination for Cause. If the Executive's employment is terminated
by the Company for Cause, the amount the Executive shall be entitled to receive
from the Company shall be limited to his base salary accrued through the date of
termination, and any nonforfeitable benefits already earned and payable to the
Executive under the terms of deferred compensation or incentive plans maintained
by the Company.

         For purposes of this Agreement, the term "Cause" shall be limited to
(i) any action by the Executive involving willful disloyalty to the Company,
such as embezzlement, fraud, misappropriation of corporate assets or a breach of
the covenants set forth in Sections 9 and 10 below; or (ii) the Executive being
convicted of a felony; or (iii) the Executive being convicted of any lesser
crime or offense committed in connection with the performance of his duties
hereunder or involving moral turpitude; or (iv) the intentional and willful
failure by the Executive to substantially perform his duties hereunder as
directed by the Board (other than any such failure resulting from the
Executive's incapacity due to physical or mental disability).

         (d) Voluntary Termination by the Executive. If the Executive resigns or
otherwise voluntarily terminates his employment before the end of the current
term of this Agreement upon sixty (60) days written notice to the Company, the
amount the Executive shall be entitled to receive from the Company shall be
limited to his base salary accrued through the date of termination, and any
nonforfeitable benefits already earned and payable to the Executive under the
terms of any deferred compensation or incentive plans of the Company.

                                      -3-
<PAGE>   4

     6.  EFFECT OF CHANGE IN CORPORATE CONTROL

         (a) In the event of a Change in Corporate Control, the vesting of any
stock options or other awards granted to the Executive under the terms of the
Company's 1995 Stock Option Plan shall become immediately vested in full and, in
the case of stock options, exercisable in full.

         In addition, if, at any time during the period of twelve (12)
consecutive months following the occurrence of a Change in Corporate Control,
the Executive is involuntarily terminated (other than for Cause) by the Company,
the Executive shall be entitled to receive as severance pay in lieu of the
monthly payments described in Section 5(a) above, a series of six (6) equal
monthly payments, each equal to one-twelfth (1/12th) of the sum of (i) the
Executive's annual base salary in effect at the time of the Change in Corporate
Control plus (ii) the annual bonus paid to the Executive with respect to the
last fiscal year of the Company ending prior to the Change in Corporate Control.

         (b) For purposes of this Agreement, a "Change in Corporate Control"
shall include any of the following events:

              (1) The acquisition in one or more transactions of more than fifty
     percent of the Company's outstanding Common Stock by any corporation, or
     other person or group (within the meaning of Section 14(d)(3) of the
     Securities Exchange Act of 1934, as amended);

              (2) Any merger or consolidation of the Company into or with
     another corporation in which the Company is not the surviving entity, or
     any transfer or sale of substantially all of the assets of the Company or
     any merger or consolidation of the Company into or with another corporation
     in which the Company is the surviving entity and, in connection with such
     merger or consolidation, all or part of the outstanding shares of Common
     Stock shall be changed into or exchanged for other stock or securities of
     any other person, or cash, or any other property.

              (3) Any election of persons to the Board of Directors which causes
     a majority of the Board of Directors to consist of persons other than (i)
     persons who were members of the Board of Directors on October 1, 1999, and
     (ii) persons who were nominated for election as members of the Board by the
     Board of Directors (or a Committee of the Board) at a time when the
     majority of the Board (or of such Committee) consisted of persons who were
     members of the Board of Directors on October 1, 1999; provided, that any
     person nominated for election by the Board of Directors composed entirely
     of persons described in (i) or (ii), or of persons who were themselves
     nominated by such Board, shall for this purpose be deemed to have been
     nominated by a Board composed of persons described in (i).

              (4) Any person, or group of persons, announces a tender offer for
     at least fifty percent (50%) of the Company's Common Stock. Provided that,
     no acquisition of stock by any person in a public offering or private
     placement of the Company's common stock or other transaction approved by
     the Company's Board of Directors shall be considered a Change in Corporate
     Control.

         (c) Notwithstanding anything else in this Agreement, the amount of
severance compensation payable to the Executive as a result of a Change in
Corporate Control under this Section 6, or otherwise, shall be limited to the
maximum amount the Company would be entitled to deduct pursuant to Section 280G
of the Internal Revenue Code of 1986, as amended.

                                      -4-
<PAGE>   5

     7.  DEATH

         If the Executive dies during the term of this Agreement, the Company
shall pay to the Executive's estate a lump sum payment equal to the sum of the
Executive's base salary accrued through the date of death plus the total unpaid
amount of any bonuses earned with respect to the fiscal year of the Company most
recently ended. In addition, the death benefits payable by reason of the
Executive's death under any retirement, deferred compensation or other employee
benefit plan maintained by the Company shall be paid to the beneficiary
designated by the Executive in accordance with the terms of the applicable plan
or plans.

     8.  WITHHOLDING

          The Company shall, to the extent permitted by law, have the right to
withhold and deduct from any payment hereunder any federal, state or local taxes
of any kind required by law to be withheld with respect to any such payment.

     9.  PROTECTION OF CONFIDENTIAL INFORMATION

         The Executive agrees that he will keep all confidential and proprietary
information of the Company or relating to its business (including, but not
limited to, information regarding the Company's customers, pricing policies,
methods of operation, proprietary computer programs and trade secrets)
confidential, and that he will not (except with the Company's prior written
consent), while in the employ of the Company or thereafter, disclose any such
confidential information to any person, firm, corporation, association or other
entity, other than in furtherance of his duties hereunder, and then only to
those with a "need to know." The Executive shall not make use of any such
confidential information for his own purposes or for the benefit of any person,
firm, corporation, association or other entity (except the Company) under any
circumstances during or after the term of his employment. The foregoing shall
not apply to any information which is already in the public domain, or is
generally disclosed by the Company or is otherwise in the public domain at the
time of disclosure.

         The Executive recognizes that because his work for the Company will
bring him into contact with confidential and proprietary information of the
Company, the restrictions of this Section 9 are required for the reasonable
protection of the Company and its investments and for the Company's reliance on
and confidence in the Executive.

     10. COVENANT NOT TO COMPETE

         The Executive hereby agrees that he will not, either during the
Employment Term or during the period of eighteen (18) months from the time the
Executive's employment under this Agreement is terminated, engage in any
business activities on behalf of any enterprise which competes with the Company
in the business of managing dental practices in the States of Florida, Georgia,
Tennessee, Virginia or any other state in which the Company has a dental office
during the term of this Agreement. The Executive will be deemed to be engaged in
such competitive business activities if he participates in such a business
enterprise as an employee, officer, director, consultant, agent, partner,
proprietor, or other participant; provided that neither (i) the ownership of no
more than 2 percent of the stock of a publicly traded corporation engaged in a
competitive business, nor (ii) the practice of dentistry on his own behalf,
without management of other dentists' practices, shall be deemed to be engaging
in competitive business activities.

                                      -5-
<PAGE>   6

         The Executive agrees that he shall not, for a period of eighteen (18)
months from the time his employment under this Agreement ceases (for whatever
reason), or, if later, during any period in which he is receiving monthly
severance payments under Section 5 or Section 6 of this Agreement,

         (i)  solicit any employee or full-time consultant of the Company for
         the purposes of hiring or retaining such employee or consultant, or

         (ii) contact any present or prospective client of the Company to
         solicit such a person to enter into a management contract with any
         organization other than the Company or a related entity.

For this purpose, the Executive shall be considered to be receiving monthly
severance payments under Section 6 of this Agreement during any period for which
he would have received such severance payments had they not been offset by
compensation received from a successor employer. This Section 10 shall be of no
force or effect unless Executive is employed by the Company for a period of at
least ninety (90) days.

     11. INJUNCTIVE RELIEF

         The Executive acknowledges and agrees that it would be difficult to
fully compensate the Company for damages resulting from the breach or threatened
breach of the covenants set forth in Sections 9 and 10 of this Agreement and
accordingly agrees that the Company shall be entitled to temporary and
injunctive relief, including temporary restraining orders, preliminary
injunctions and permanent injunctions, to enforce such provisions in any action
or proceeding instituted in the United States District Court for the Western
District of Florida or in any court in the State of Florida having subject
matter jurisdiction. This provision with respect to injunctive relief shall not,
however, diminish the Company's right to claim and recover damages.

         It is expressly understood and agreed that although the parties
consider the restrictions contained in this Agreement to be reasonable, if a
court determines that the time or territory or any other restriction contained
in this Agreement is an unenforceable restriction on the activities of the
Executive, no such provision of this Agreement shall be rendered void but shall
be deemed amended to apply as to such maximum time and territory and to such
extent as such court may judicially determine or indicate to be reasonable.

     12. SEPARABILITY

         If any provision of this Agreement shall be declared to be invalid or
unenforceable, in whole or in part, such invalidity or unenforceability shall
not affect the remaining provisions hereof which shall remain in full force and
effect.

     13. ASSIGNMENT

         This Agreement shall be binding upon and inure to the benefit of the
heirs and representatives of the Executive and the assigns and successors of the
Company, but neither this Agreement nor any rights hereunder shall be assignable
or otherwise subject to hypothecation by the Executive.

                                      -6-
<PAGE>   7

     14. ENTIRE AGREEMENT

         This Agreement represents the entire agreement of the parties and shall
supersede, any and all other agreement, including but not limited to the
Original Employment Agreement, and any and all previous arrangements or
understandings between the Company and the Executive. The Agreement may be
amended at any time by mutual written agreement of the parties hereto.

     15. GOVERNING LAW

         This Agreement shall be construed, interpreted, and governed in
accordance with the laws of the State of Florida, other than the conflict of
laws provisions of such laws.

     16. ARBITRATION

         Subject to the Company's right to seek injunctive relief for any
violations of the covenants set forth in Sections 9 and 10 of this Agreement,
any controversy or claim arising out of this Agreement, or the breach thereof,
other than a claim for injunctive relief shall be settled by binding arbitration
in accordance with the Rules of the American Arbitration Association which shall
occur in Tampa, Florida or at such other location as may be mutually agreed to
by the parties.

         IN WITNESS WHEREOF, the Company has caused this Agreement to be duly
executed, and the Executive has hereunto set his hand, as of the day and year
first above written.

ATTEST:                             COAST DENTAL SERVICES, INC.

/s/ [ILLEGIBLE]                     /s/ Terek Diasti
----------------------------        -----------------------------------------
                                    Terek Diasti, Chief Executive Officer

WITNESS:                            EXECUTIVE:

/s/ [ILLEGIBLE]                     /s/ William H. Geary, III
-----------------------------       -----------------------------------------
                                    William H. Geary, III

                                      -7-

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