Document:

<PAGE>
                                                                    Exhibit 10.3

                                                                  CONFORMED COPY

                            RETAIL INFORMATICS DATA
                             AND SERVICES AGREEMENT

     THIS RETAIL INFORMATICS DATA AND SERVICES AGREEMENT is made and entered
into as of January 6, 2006 (the "Effective Date") by and between NDC Health
Information Services (Arizona) Inc., a Delaware corporation ("Provider"), and
NDCHealth Corporation, a Delaware corporation ("NDCHealth").

                                    RECITALS

     Provider is in the business of the business of providing data, analytics
and information management support solutions to pharmaceutical manufacturers,
Biotechnology Firms, Medical Device Manufacturers, Wall Street investment and
private equity firms (buy and sell side) for purposes of their pharmaceutical
and biotechnology analysis and governmental payors, enabling them, among other
things, to evaluate performance, develop strategies and optimize their marketing
and sales efforts, rebate spend and clinical trial recruitment efforts (the "IM
Business").

     NDCHealth is in the business of (i) processing, editing and transmitting
pharmacy and medical data between providers (pharmacy, physician, hospital) and
payers (commercial, non-profit and government) and other parties (government
reporting, etc.), (ii) the development, sale and maintenance of systems for the
pharmacy, high volume (mail order, payers), hospital and physician markets and
claims cash flow management systems for the hospital industry and (iii) the
development, sale, license and conveyance of informatics products to the retail
pharmacy industry, Medical Device Manufacturers (limited to utilization review)
and third-party payers.

     Immediately prior to the Effective Date, Provider was a wholly owned
subsidiary of NDCHealth. Upon the closing of the transactions contemplated by
that certain Stock Purchase Agreement, dated as of August 26, 2005, by and among
Wolters Kluwer Health, Inc. ("WKHI"), NDCHealth and Provider, WKHI is acquiring,
as of the Effective Date, all of the issued and outstanding equity interests of
Provider (the "Sale Transaction").

     Simultaneously herewith Client and NDCHealth have entered into a Data
Supply and Services Agreement (the "Data Supply Agreement"), a Transition
Services Agreement (the "Transition Services Agreement") and a Contribution
Agreement.

     Upon the closing of the transactions contemplated by that certain Agreement
and Plan of Merger, dated as of August 26, 2005, by and among Per-Se
Technologies, Inc., a Delaware corporation ("Patriot"), NDCHealth, and Royal
Merger Co., a Delaware corporation and a wholly owned subsidiary of Patriot
("Purchaser"), Purchaser will merge with and into NDCHealth (the "Merger") such
that NDCHealth will continue as the surviving corporation and a wholly owned
subsidiary of Patriot following the Merger.

<PAGE>

     Prior to consummation of the Sale Transaction, Provider provided to
NDCHealth through intercompany arrangements access to discrete databases
populated with aggregations of retail pharmacy data requested by NDCHealth,
which aggregations were drawn from Provider's databases of retail pharmacy data
and were used by NDCHealth in its development, sale and servicing of retail
pharmacy and payer informatics products and services. Provider also provided
NDCHealth with certain support services related to such databases. The parties
are entering into this Agreement to set forth the terms and conditions pursuant
to which Provider shall continue to provide NDCHealth with access to data and
related services after consummation of the Sale Transaction.

     As an integral part of the long-term commercial relationship contemplated
by this Agreement and as a partial inducement to Provider to enter into this
Agreement, NDCHealth has agreed to contemporaneously enter into the Data Supply
Agreement.

     Capitalized terms shall have the meanings ascribed to them in Section 13 of
this Agreement.

     NOW, THEREFORE, for and in consideration of the above premises, the mutual
promises contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending
to be legally bound, hereby agree as follows:

1.   DATABASE ACCESS; SCRUBBING; PROVIDER CERTIFICATIONS; MONITORING

     (a)  RI Data. Subject to the terms and conditions of this Agreement, during
          the Term, Provider shall provide NDCHealth with access to the RI Data
          Repository, that will be populated by Provider with RI Data and
          Purchased Data. Provider shall populate the RI Data Repository with
          aggregations of RI Data requested by NDCHealth as more fully set forth
          in the Service Level Commitments. The parties acknowledge that
          Provider shall maintain the RI Data Repository separate and apart from
          Provider's other databases and data storage.

     (b)  Access to and Population of Databases.

          i.   Provider shall provide NDCHealth with access to the RI Data and
               RI Data Repository in accordance with the RI Data Access
               Protocols. NDCHealth's access to the RI Data Repository shall be
               subject to reasonable security restrictions, including
               restrictions that prohibit NDCHealth from accessing data elements
               to the extent such access is prohibited by the terms of Provider
               Data Agreements. NDCHealth shall not be permitted to modify any
               data located in the RI Data Repository, provided that NDCHealth
               shall be permitted to extract data from the RI Data Repository
               and copy such data to a separate database for purposes of
               developing and delivering Certified Products. Access to the RI
               Data Repository shall be sufficient, in all cases, to permit
               NDCHealth to

                                       2

<PAGE>

               perform the analyses with respect to the RI Data Products and to
               create and deliver the RI Data Products in accordance with the
               Service Level Commitments and RI Data Access Protocols. Provider
               shall, at its expense, maintain the RI Data Repository in a
               manner sufficient to provide NDCHealth with such access to and
               use of the RI Data in accordance with the Service Level
               Commitments and RI Data Access Protocols.

          ii.  Provider shall populate the RI Data Repository with the RI Data
               with the aggregations requested by NDCHealth and shall refresh
               the RI Data included in the RI Data Repository in accordance with
               the Service Level Commitments. Provider shall retain no less than
               twenty four (24) data months of history (on a rolling basis) of
               RI Data in the RI Data Repository. Provider shall make the RI
               Data available to NDCHealth within the RI Data Repository in the
               format specified in the Service Level Commitments.

          iii. Provider covenants and agrees that during the Term, the RI Data
               made available to NDCHealth will consist of (a) at least forty
               percent (40%) of the Retail Prescription Data (unless otherwise
               agreed by the parties) and (b) at least seventy-five percent
               (75%) of the IM Prescription Data.

     (c)  Alterations to Covered Data and Delivery.

          i.   Notwithstanding the terms of this Agreement, Provider retains the
               right at any time during the Term to alter the content, format,
               method or timing of delivery of, the RI Data if Provider
               determines, in its reasonable discretion exercised in accordance
               with Provider's policies and procedures (applied in a
               non-discriminatory manner with respect to similar circumstances),
               that such alteration is required as a result of (i) changes in
               the Act or other Applicable Laws, (ii) the passage of any new
               Applicable Laws, (iii) the issuance of a published interpretation
               of the Act or any other Applicable Law by a Governmental Body, or
               (iv) the terms of the Provider Data Agreements (each of the
               enumerated items are hereinafter referred to as a "Data
               Alteration Event"). If Provider determines any such alteration is
               required, Provider will notify NDCHealth as soon as reasonably
               practicable and provide NDCHealth with an explanation of the
               reasons for the alteration.

          ii.  Provider covenants and agrees that it shall use commercially
               reasonable efforts to cause the terms of the IM Business
               Agreements to permit or, in the case of Provider Data Agreements
               that are executory as of the Effective Date, to continue to
               permit, Provider to license the data to NDCHealth in the manner
               described in this Agreement.

                                       3

<PAGE>

          iii. Provider covenants and agrees that it shall use commercially
               reasonable efforts to ensure that any IM Business Agreements also
               constitute Provider Data Agreements.

          iv.  Provider shall use commercially reasonable efforts to provide
               NDCHealth with sixty (60) days (or such shorter period as is
               practicable under the circumstances) advance notice of any
               termination or non-renewal of a Provider Data Agreement.

     (d)  Repopulation; Retention of Data.

          i.   If any RI Data is damaged or unreadable and NDCHealth notifies
               Provider thereof in writing within five (5) days after NDCHealth
               is provided access to such RI Data, Provider shall re-populate
               the RI Data Repository with replacement RI Data within two (2)
               days of its receipt of written notice from NDCHealth.

          ii.  Provider shall retain the RI Data on computer magnetic tapes or
               other media deemed appropriate by Provider for the RI Data for a
               period of the longer of six (6) years or such period as may be
               required by the Act or other Applicable Laws. If NDCHealth
               desires that Provider retain the RI Data for longer periods,
               NDCHealth shall provide Provider with such a request and Provider
               shall provide NDCHealth with an estimate of the resulting
               increase in costs to Provider. If NDCHealth agrees in writing to
               reimburse Provider an amount equal to the lesser of such
               estimated increase in costs and Provider's actual increase in
               costs pursuant to Section 6(b) of this Agreement, Provider shall
               extend its retention of the RI Data for such longer period.

     (e)  De-Identification and Encryption of Covered Data. Before delivering RI
          Data to NDCHealth, Provider shall de-identify the RI Data to Level 1
          De-Identification and shall utilize the Encryption Engine to encrypt
          the RI Data.

     (f)  Provider Certifications. Provider shall provide NDCHealth with an
          annual RI Data Certification, an annual Level I Certification, an
          annual Level II Certification and an annual Security Certification, in
          each case in accordance with the Data Security Requirements. Each RI
          Data Certification, Level I Certification, Level II Certification and
          Security Certification shall be in the form set forth in the Data
          Security Requirements and shall be signed by a Qualified Statistician
          reasonably acceptable to NDCHealth. All fees and expenses incurred by
          Provider in obtaining such Certifications shall be borne by Provider.

     (g)  DISCLAIMER. NDCHEALTH ACKNOWLEDGES THAT THE COMPLETENESS OF THE DATA
          ELEMENTS INCLUDED IN THE RI DATA IS DEPENDENT UPON THE DATA ELEMENTS
          INCLUDED IN THE CLAIMS DATA RECEIVED BY PROVIDER FROM THE PHARMACIES

                                       4

<PAGE>

          PROVIDING SUCH DATA. PROVIDER MAKES NO REPRESENTATIONS OR WARRANTIES
          REGARDING THE RI DATA, AND HEREBY DISCLAIMS ALL IMPLIED WARRANTIES,
          INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS
          FOR A PARTICULAR PURPOSE, COMPLETENESS, AND ACCURACY.

     (h)  Discovery of PHI. NDCHealth shall notify Provider immediately if
          NDCHealth becomes aware of any PHI included in the RI Data. Following
          such notice, NDCHealth shall consult with Provider regarding treatment
          and handling of the RI Data determined to contain PHI and shall
          destroy all RI Data including PHI in NDCHealth's possession in a
          manner satisfactory to Provider and shall certify such destruction to
          Provider in writing.

2.   LICENSE TO USE RI DATA; PROHIBITED USES; OWNERSHIP

     (a)  Licenses. Subject to the restrictions set forth in this Agreement and
          any limitations imposed by Applicable Laws, Provider hereby grants to
          NDCHealth (i) an exclusive (even as to Provider), world-wide,
          transferable, fully-paid, royalty-free, irrevocable license to the RI
          Data for use by NDCHealth in the NDC Field, for a period of ten (10)
          years commencing on the Effective Date, and (ii) a non-exclusive,
          world-wide, transferable, fully-paid, royalty-free, irrevocable
          license to the RI Data for all other lawful uses, except the IM Field
          during the Term, each in accordance with the terms and conditions of
          this Agreement.

     (b)  Scope of Use. Subject to the restrictions set forth in this Agreement,
          NDCHealth shall be permitted to use, copy, extract, compile,
          assimilate, manipulate, analyze and otherwise process and modify the
          RI Data for purposes of incorporating the RI Data into Certified
          Products, and may license, sublicense, transmit and distribute the RI
          Data, as incorporated into Certified Products, to third parties in
          accordance with the terms of this Agreement, in each case for purposes
          of, or in connection with, the development, sale, license or other
          conveyance of Certified Products to the Retail Pharmacy Industry,
          Health Care Providers, non-governmental third party payers and
          consumers.

     (c)  Certain Covenants. Notwithstanding the licenses granted pursuant to
          this Section 2 or any other term of this Agreement, NDCHealth
          covenants and agrees that it shall not engage, and shall not cause or
          permit any Person acting on its behalf or at its direction to engage,
          at any time in any Prohibited Use of the RI Data. Provider covenants
          and agrees that it shall not (i) for a period of ten (10) years
          beginning on the Effective Date, use the RI Data to create, sell or
          deliver to Health Care Providers, non-governmental third party payers
          or consumers those NDC Products Provider is restricted from providing
          to each of Health Care Providers, non-governmental third party payers
          or consumers pursuant to Section 11 of the Data Supply Agreement and
          Schedule 11(b) to the Data Supply Agreement, or (ii) during the entire
          Term, use the RI Data (1) to create, sell or deliver to customers in
          the Retail Pharmacy Industry those NDC Products

                                       5

<PAGE>

          Provider is restricted from providing to customers in the Retail
          Pharmacy Industry pursuant to Section 11 of the Data Supply Agreement
          and Schedule 11(b) to the Data Supply Agreement or (2) to provide
          network services.

     (d)  Survival. The licenses granted pursuant to this Section 2 shall
          survive the expiration or earlier termination of this Agreement with
          respect to RI Data provided to NDCHealth before the effective date of
          such expiration or termination, provided NDCHealth remains in
          compliance with all terms and conditions of this Agreement applicable
          to such RI Data and provided further that any such surviving license
          shall, in respect of RI Data initially licensed exclusively, revert to
          a non-exclusive license six years after the date of purchase but in
          any event not sooner than the end of the Term.

     (e)  Ownership of Purchased Data. As between the parties, (i) all rights in
          and to the Purchased Data (including, but not limited to, all
          intellectual property rights therein) shall remain the property of
          Provider or such other licensor of the Purchased Data to Provider and
          (ii) all rights in and to the Certified Products (including, but not
          limited to, all intellectual property rights therein), shall remain
          the property of NDCHealth. NDCHealth shall acquire no right, title or
          interest in or to the Purchased Data except as otherwise expressly
          provided in this Section 2. Nothing in this Agreement shall be deemed
          to confer upon Provider or any other Person any right, title or
          interest in or to the NDC Data, the ownership of which is governed in
          all respects by the terms of the Data Supply Agreement.

3.   NDCHEALTH CERTIFICATIONS

     (a)  Security Certification. NDCHealth shall provide Provider with an
          annual Level II Certification and an annual Security Certification in
          accordance with the Data Security Requirements.

     (b)  Level II Certifications. Prior to any offer for sale, sale, license,
          delivery or other conveyance by NDCHealth, or by any Person acting on
          NDCHealth's behalf or at Provider's direction, of an RI Data Product,
          NDCHealth shall provide Provider with Level II Certifications for such
          RI Data Product in accordance with the Data Security Requirements.

     (c)  Level III Certifications. Any material change or modification to a
          Certified Product or to the permitted or prohibited uses of a
          Certified Product must be preceded by a Level III Certification
          delivered to and approved by Provider pursuant to this Section 3(b).
          The implementation of any material change or modification to a
          Certified Product or to the permitted or prohibited uses thereof that
          has not been preceded by a Level III Certification delivered to
          Provider in accordance with the Data Security Requirements and this
          Section 3(b) shall result in the affected RI Data Product(s) no longer
          constituting Certified Products for purposes of this Agreement. For
          purposes of this Agreement, any modification to

                                       6

<PAGE>

          a Certified Product or to its permitted or prohibited uses shall be
          deemed material if, in Provider's reasonable discretion exercised in
          accordance with Provider's policies and procedures (applied in a
          non-discriminatory manner with respect to similar circumstances), such
          modification could reasonably be expected to adversely impact the
          validity of the Level II Certification or Level III Certification
          applicable to such Certified Product.

     (d)  Form of Certifications. Each NDCHealth Certification shall be signed
          by a Qualified Statistician reasonably acceptable to Provider. All
          fees and expenses incurred by NDCHealth in obtaining such
          certifications shall be borne by NDCHealth.

     (e)  Additional Certifications. If any third party from which Provider
          obtains data that is included within the Purchased Data is entitled,
          pursuant to a Provider Data Agreement governing the provision of such
          data, to receive certifications, in addition to those set forth in
          this Section 3, NDCHealth shall provide such certifications as a
          condition to the inclusion within the Purchased Data of the data
          provided by such third party.

     NDCHealth may at any time at NDCHealth's reasonable discretion, upon ninety
     (90) days' prior written notice to Provider, alter any aspects of the
     policies and procedures relating to NDCHealth's determination of whether to
     issue a particular NDCHealth Certification; provided that, if at any time
     during the 90-day notice period set forth in this paragraph, Provider
     determines, in its reasonable discretion, that a proposed alteration would
     not be consistent with this Agreement (including the Data Security
     Requirements) the Act, Applicable Laws or the Provider Data Agreements,
     NDCHealth will refrain from effecting the proposed alteration until such
     time as Provider has consented in writing to the proposed alteration.

4.   AUDIT RIGHTS AND DATA SUSPENSION

     (a)  Audit Rights. Subject to the provisions of this Section 4, Provider
          may, at any time upon reasonable notice to NDCHealth, engage a third
          party auditor reasonably acceptable to NDCHealth to inspect and audit
          the systems, operations, processes, records and leased and owned
          premises of NDCHealth (or of any Person performing services on behalf
          of or at the direction of NDCHealth, that relate to or impact in any
          material respect the transmission, processing or storage of the RI
          Data or the sale, license, delivery, distribution or other conveyance
          of any RI Data Product for purposes of confirming NDCHealth's
          compliance with the terms, conditions and requirements of this
          Agreement. NDCHealth shall include in its contracts with Persons
          performing functions on behalf of or at the direction of NDCHealth,
          which functions are within the scope of the audit rights afforded
          Provider pursuant to this Section 4(a), terms requiring such Persons
          to grant Provider sufficient access to such Persons' systems,
          processes, operations, records and premises to enable Provider to
          exercise fully its rights hereunder; provided that NDCHealth shall not
          be required to include in its leases such terms

                                       7

<PAGE>

          if NDCHealth otherwise has the right to allow Provider access to such
          premises. Provider may engage a third party, reasonably acceptable to
          NDCHealth, to perform audits in accordance with this Section 4(a) on
          behalf of Provider, provided (i) such third party is not engaged in a
          business that is competitive with the business engaged in by NDCHealth
          and (ii) such third party enters into a confidentiality or similar
          agreement placing reasonable restrictions on such third party's use of
          any confidential information of Provider obtained by the third party
          during its performance of the audit. For purposes of this Section
          4(a), "reasonable notice" means notice of at least five (5) calendar
          days, or such shorter period that Provider demonstrates it reasonably
          requires; provided, however that Provider shall be permitted to
          exercise its audit rights under this Section 4(a) immediately and
          without advance notice if the audit pertains to a suspected breach of
          the terms of Section 2(a), 2(b) or 2(c) of this Agreement or a
          suspected violation of the Act or other Applicable Laws. Provider may
          perform an audit under this Section 4(a) no more often than twice in
          any (12) month period, except that Provider may perform such audits
          more often if the audit pertains to a suspected breach of the terms of
          Section 2(a), 2(b) or 2(c) of this Agreement or a suspected violation
          of the Act or other Applicable Laws, or if otherwise required under
          the Act or any other Applicable Laws or if required by a court or
          another Governmental Body. NDCHealth shall cooperate, as reasonably
          requested by Provider, in any audits performed on behalf of Provider
          or by any third party engaged by Provider pursuant to this Section
          4(a). Any audits performed by Provider (or a third party engaged by
          Provider) pursuant to this Section 4(a) shall be conducted at the
          expense of Provider. During the Term and for a period of six (6) years
          thereafter, or for such longer period as may be required by the Act or
          other Applicable Laws, NDCHealth shall retain sufficient historical
          business records, for a period of at least six (6) years, to evidence
          compliance with its obligations under this Agreement, the Act and all
          other Applicable Laws. Any notice of Provider's intent to conduct an
          audit pursuant to this Section 4(a) shall be provided in writing to an
          individual designated by NDCHealth to receive such notice, and to
          NDCHealth at the address specified in Section 12(d) of this Agreement.
          Any audit conducted pursuant to this Section 4(a) shall be conducted
          so as to minimize any disruption to the conduct of NDCHealth's
          day-to-day operations to the extent reasonably possible in light of
          the circumstances, and otherwise in a commercially reasonable manner.

     (b)  Data Suspension. If Provider's auditor determines, in its reasonable
          discretion after completing any audit arising pursuant to Section
          4(a), a Data Alteration Event has occurred or that any change in
          NDCHealth's transmission, use or storage of the RI Data or any
          Certified Product (i) constitutes a breach of the terms of Section
          2(a), 2(b) or 2(c) of this Agreement, (ii) is not in compliance with
          the Act, other Applicable Laws or the terms of any Provider Data
          Agreement or (iii) poses greater than a Very Small risk that RI Data
          in a particular RI Data Category could be used or disclosed in a
          manner to identify individuals, Provider shall immediately notify
          NDCHealth of such determination, and Provider may, upon delivery of
          such notice, suspend transmission of the RI Data included in

                                       8

<PAGE>

          each RI Data Category which Provider's auditor determines, in its
          reasonable, good faith discretion, should be suspended in response to
          such Data Alteration Event or in order to eliminate such breach,
          non-compliance or greater risk. In such event (a "Data Suspension
          Event"), Provider shall (i) continue to produce, but deny NDCHealth
          access to, the RI Data contained in each suspended RI Data Category,
          (ii) store all RI Data produced during such Data Suspension Event and
          included in the suspended RI Data Category, and (iii) upon a joint
          determination by the parties that delivery of the RI Data included in
          a suspended RI Data Category may be resumed in compliance with the
          Act, other Applicable Laws and the terms of this Agreement and the
          Provider Data Agreements, transmit such stored RI Data to NDCHealth
          and resume ongoing delivery of the RI Data included in such RI Data
          Category.

5.   SERVICES; USE OF PROVIDER PREMISES

     (a)  Data Support Services. During the Term, Provider shall provide
          reasonable data support services in accordance with the Service Level
          Commitments, and shall make available to NDCHealth employees of
          Provider with sufficient experience and expertise in the operational
          matters related to the collection, aggregation and transmission of the
          RI Data and access to and use of the RI Data Repository to provide the
          data support services to Client. The parties anticipate that the data
          support services shall be provided primarily by telephone and email
          communications. Notwithstanding the foregoing, if requested by
          NDCHealth, Provider shall provide the data support services on-site at
          NDCHealth facilities; provided that NDCHealth must provide Provider
          with reasonable advance notice of a request for on-site support.
          Provider shall cause any of its employees providing data support
          services at NDCHealth facilities to comply with all rules and
          guidelines of NDCHealth applicable to conduct in its premises,
          including security protocols. Provider shall be responsible for the
          conduct of its employees while present in NDCHealth facilities and
          shall take all reasonable precautions to prevent the occurrence of any
          injury to persons or property or any interference with the operations
          of NDCHealth.

     (b)  Provider Systems; NDCHealth Materials. Provider hereby grants to
          NDCHealth a non-exclusive, non-transferable license to use the IM
          Systems during the Term in connection with the development, production
          and servicing of Retail Informatics Products.

     (c)  Select Client Databases. The parties agree that from and after the
          relocation of the Select Client Databases from Provider's Data Center
          to NDCHealth's facilities, for the remainder of the Term, Provider
          shall continue to populate the Select Client Databases with RI Data in
          accordance with the terms of this Agreement notwithstanding their
          relocation and shall be responsible for transmission of the RI Data to
          the Select Client Databases after their relocation to an NDCHealth
          facility and all costs associated with such transmission.

                                       9

<PAGE>

     (d)  PPE Data Feed. During the Term, Provider shall provide data files
          supporting the NDCHealth pre- and post-editing product, and the
          NDCHealth Intelligent Network product in accordance with the Service
          Level Commitments. Such data files shall include both market
          information regarding usual and customary pricing, as well as
          physician DEA identification files in the formats identified in, and
          provided in accordance with, the Service Level Commitments.
          Additionally, Provider shall provide monthly prescription counts and
          total associated dollars segregated by retail and mail order segments
          on a national basis in order to allow NDCHealth to continue
          marketshare calculations. Provider shall be responsible for license
          fees associated with the provision of such data files.

     (e)  New Services. NDCHealth may request from time to time during the Term
          that Provider provide to NDCHealth New Services in addition to those
          described in this Section 5 as required to be provided to NDCHealth as
          of the Effective Date. Provider shall cooperate in good faith
          regarding any requests by NDCHealth that Provider perform New
          Services. The terms and conditions pursuant to which Provider would
          provide New Services, including any fees that would be payable by
          NDCHealth to Provider in consideration of its performance thereof,
          shall be agreed upon by the parties in writing prior to the
          commencement of the performance of any New Services by Provider;
          provided, however, that if the parties are unable to agree on the
          terms and conditions pursuant to which Provider would provide any New
          Services, Provider shall not be required to provide such New Services.

                                       10

<PAGE>

     (f)  Use of Provider Premises by NDCHealth Employees. The parties
          acknowledge that as of the Effective Date six (6) employees of
          NDCHealth that are engaged in NDCHealth's retail informatics business
          are provided with office space at Provider's offices located at 2394
          East Camelback Road, Phoenix, Arizona. During the Term, Provider shall
          continue to allow such NDCHealth employees (or new employees who
          replace such employees) to occupy and utilize, without charge, similar
          office space and facilities at such premises (or any similar premises
          to which Provider may relocate during the Term). NDCHealth shall cause
          its employees occupying such premises to comply with all rules and
          guidelines of Provider applicable to conduct in its premises,
          including security protocols. NDCHealth shall be responsible for the
          conduct of its employees while present in Provider facilities and
          shall take all reasonable precautions to prevent the occurrence of any
          injury to persons or property or any interference with the operations
          of Provider.

     (g)  During the Term, Provider shall (i) provide NDCHealth access to
          Provider's Delivery Tracking System for use in connection with the
          license by Provider to NDCHealth of the RI Data and the access by
          NDCHealth to the RI Data Repository and the RI Data; (ii) support and
          maintain the Delivery Tracking System, including, without limitation,
          appropriate network connectivity, at levels and in a manner consistent
          with practices on the Effective Date, and (iii) provide on a periodic
          basis such reports containing such information and in a format, in
          each case, as reasonably requested by NDCHealth, to allow NDCHealth to
          meet its financial reporting obligations.

6.   PAYMENTS AND INVOICING

     (a)  Data Fees. In consideration of the performance by Provider of its
          obligations under this Agreement and the license to the RI Data
          granted to Provider hereunder, NDCHealth shall pay to Client the Data
          Fees.

     (b)  Reimbursement of Costs. To the extent Provider agrees, in its
          discretion, to provide any modified data or modified services
          hereunder or any modifications in the manner in which data or services
          are provided hereunder, such modifications shall be agreed upon in
          writing in advance by the parties. In addition to the payment to
          Provider of any fees that may be agreed upon by the parties in
          connection with such modifications, NDCHealth shall reimburse Provider
          for any actual additional costs incurred by Provider as a result of
          such modifications, and shall reimburse Provider for the actual cost
          of all travel, travel-related (including food, lodging and incidental)
          and out-of-pocket expenses incurred by Provider employees in
          performing the Data Support Services at NDCHealth sites, provided in
          each case that such expenses are reasonable and evidenced by
          sufficient documentation provided to NDCHealth.

                                       11

<PAGE>

     (c)  Fees for New Services. Any fees payable by NDCHealth to Provider in
          connection with Provider's performance of New Services shall be agreed
          upon by the parties in writing pursuant to Section 5(e).

     (d)  Payment and Invoice. Within fifteen (15) days after the end of each
          calendar month during the Term, Provider shall deliver an invoice to
          NDCHealth for one-twelfth (1/12) of the applicable year's Data Fees
          and any amounts that may be payable pursuant to Section 6(b) and
          Section 6(c) of this Agreement with respect to such calendar month.
          Each invoice shall provide in reasonable detail a breakdown of the
          amounts invoiced among Data Fees, expenses and fees for New Services,
          as applicable. Each invoice shall be accompanied by a Provider
          certification setting forth, with respect to such calendar month, (a)
          the percentage of the Retail Prescription Data of which the RI Data
          consists and (b) the percentage of the IM Prescription Data of which
          the RI Data consists. NDCHealth shall pay to Provider all invoiced
          amounts not in dispute within thirty (30) days of NDCHealth's receipt
          of each invoice.

     (e)  Withholding of Disputed Amounts. NDCHealth shall have the right to
          dispute in good faith any amount included in any invoice delivered
          pursuant to this Agreement and to withhold from payment of any such
          invoice the amount in dispute. If any invoice is disputed, the
          undisputed amount shall be timely paid and the parties shall negotiate
          in good faith a resolution for the remainder; provided, however, that
          if the parties cannot reach agreement on any disputed amount, the
          matter shall be resolved in accordance with Section 10 of this
          Agreement. If NDCHealth disputes the amount of any invoice, it shall
          provide Provider with a written notice setting forth the disputed
          amount and the reasons therefor. Any deduction of a disputed amount of
          an invoice that is not specifically agreed to by Provider in writing
          and that finally is determined to have been improperly withheld shall
          be paid promptly by NDCHealth, plus interest thereon computed at a
          rate equal to one-half percent (0.5%) per month of the improperly
          withheld amount accruing from the date when payment was due until the
          date paid.

     (f)  Late Fees. Provider may assess NDCHealth a late payment charge on any
          amount not in dispute that remains unpaid by NDCHealth after it is
          due, computed at a rate equal to one-half percent (0.5%) per month of
          the unpaid amount accruing from the date when payment was due until
          the date paid.

     (g)  Taxes. NDCHealth shall be responsible for all sales, use, transfer,
          privilege, excise, charges; surcharges; or other taxes, however
          designated, which are levied or imposed by a Governmental Body by
          reason of the transactions contemplated hereby, excluding income taxes
          which may be levied against Provider.

     (h)  Audit Rights. NDCHealth may, at any time upon reasonable notice to
          Provider, inspect and audit the books and records of Provider for
          purposes of confirming the accuracy of amounts invoiced to NDCHealth
          by Provider and the percentage of

                                       12

<PAGE>

          the Retail Prescription Data and the IM Prescription Data of which the
          RI Data consists as certified by Provider (but not more than once in
          any six month period) pursuant to this Agreement. NDCHealth may engage
          a third party to perform audits in accordance with this Section 6(h)
          on behalf of NDCHealth, provided (i) such third party is not engaged
          in a business that is competitive with the business engaged in by
          Provider and (ii) such third party enters into a confidentiality or
          similar agreement placing reasonable restrictions on such third
          party's use of any confidential information of Provider obtained by
          the third party during its performance of the audit. Audits conducted
          pursuant to this Section 6(h) shall be conducted in a manner that does
          not unreasonably disrupt or delay Provider's business operations and
          in compliance with the reasonable security procedures of Provider.
          Provider shall cooperate, as reasonably requested by NDCHealth, in any
          audits performed by NDCHealth (or by any third party engaged by
          NDCHealth) pursuant to this Section 6(h). For purposes of this Section
          6(h), "reasonable notice" means notice of at least five (5) calendar
          days or such shorter period that Client demonstrates it reasonably
          requires. Any audits performed by NDCHealth (or a third party engaged
          by NDCHealth) pursuant to this Section 6(h) shall be conducted at the
          expense of NDCHealth. Provider shall retain sufficient historical
          business records, for a period of at least three (3) years, to
          evidence the accuracy of the amounts invoiced to NDCHealth pursuant to
          this Agreement during the Term and for a period of three (3) years
          thereafter.

7.   TERM AND TERMINATION

     (a)  Term. The term of this Agreement (the "Term") shall begin on the
          Effective Date and, unless terminated earlier pursuant to Section 7(c)
          or Section 7(d) or extended pursuant to Section 7(b), shall continue
          until 12:01 a.m. Atlanta, Georgia time on the twentieth (20th)
          anniversary thereof.

     (b)  Extension of Term. Unless Provider provides written notice to
          NDCHealth no less than six (6) months prior to the end of the Term
          that Provider will not extend the Term, the parties shall negotiate in
          good faith the terms and conditions applicable to, and the duration
          of, an extension of the Term. If the parties have not agreed upon the
          terms and conditions applicable to an extension of the Term by the
          date two (2) months prior to the expiration of the Term, this
          Agreement shall expire at the end of the Term.

     (c)  NDCHealth Rights to Terminate. NDCHealth may terminate this Agreement
          immediately upon the occurrence of any one or more of the following
          events:

          i.   upon the fifth anniversary of the Effective Date, pursuant to
               written notice delivered to Provider not less than thirty (30)
               days prior to the fifth anniversary of the Effective Date; or

          ii.  upon (A) the adjudication of Provider to be bankrupt or
               insolvent, (B) the filing of a petition in bankruptcy or
               insolvency by or against Provider, or

                                       13

<PAGE>

               the filing of a petition seeking the appointment of a receiver
               with respect to all or a substantial part of the property of
               Provider, (C) the filing by Provider of a petition seeking
               reorganization of its debts or financial structure under a law
               relating to insolvency or bankruptcy, or (D) the institution by
               Provider of any proceedings for liquidation or winding up of its
               business (other than for purposes of reorganization,
               consolidation or merger), provided that Provider shall have sixty
               (60) days to obtain a stay from or dismiss any filings under this
               Section 7(c)(ii) that are commenced by third-parties.

     (d)  Provider Rights to Terminate. Provider may terminate this Agreement
          immediately upon the occurrence of any one or more of the following
          events:

          i.   subject to the provisions of Section 6(e), upon NDCHealth's
               non-payment of amounts owed to NDCHealth within five (5) days
               following an arbitrator's final award in NDCHealth's favor in
               accordance with Section 10; or

          ii.  upon (A) the adjudication of NDCHealth to be bankrupt or
               insolvent, (B) the filing of a petition in bankruptcy or
               insolvency by or against NDCHealth, or the filing of a petition
               seeking the appointment of a receiver with respect to all or a
               substantial part of the property of NDCHealth, (C) the filing by
               NDCHealth of a petition seeking reorganization of its debts or
               financial structure under a law relating to insolvency or
               bankruptcy, or (D) the institution by NDCHealth of any
               proceedings for liquidation or winding up of its business (other
               than for purposes of reorganization, consolidation or merger),
               provided that NDCHealth shall have sixty (60) days to obtain a
               stay from or dismiss any filings under this Section 7(d)(ii) that
               are commenced by third-parties.

     (e)  Rights and Obligations upon Expiration or Termination. Following the
          expiration or termination of this Agreement, neither party shall have
          any further rights, privileges or obligations hereunder except that
          such expiration or termination shall not (i) relieve either party of
          any liability accrued or liability for any breach occurring prior to
          the effective date of such expiration or termination and (ii) affect
          the continued operation or enforcement of any provision of this
          Agreement which by its express terms or reasonable implication is to
          survive any expiration or termination of this Agreement, including (A)
          Sections 2, 3 and 4, in each case solely with respect to RI Data made
          available to NDCHealth prior to the expiration or termination of this
          Agreement, (B) Section 6, solely with respect to payment obligations
          arising out of periods prior to the expiration or termination of this
          Agreement, (C) this Section 7(e), and (D) Sections 8, 9, 10 and 11. In
          addition to the foregoing, to the extent this Agreement expires or is
          terminated for any reason, but in spite of such expiration or
          termination Provider continues to make RI Data available to NDCHealth
          subsequent to such expiration or termination, then the terms and
          conditions of this Agreement shall continue to

                                       14

<PAGE>

          govern such RI Data access until such time as another Agreement is
          executed by the parties which is meant to supersede this Agreement or
          until Provider discontinues the provision of RI Data to Client.

8.   CONFIDENTIALITY

     (a)  Definition of Confidential Information. As used herein, the term
          "Confidential Information" means information in the possession or
          under the control of a party relating to a party's technical,
          marketing, product and business affairs, including customer, prospect,
          price, and other proprietary and trade secret information, whether
          oral, graphic, written, electronic or in machine readable form, and
          includes all computer programs (and source code therefor), all amounts
          paid or payable to Provider under Section 6 hereof, all information
          relating to the payment of such amounts, all proposals, plans,
          programs, analyses, compilations, forecasts, studies or other
          documents prepared by a party or by them jointly relating to the
          subject matter of this Agreement, including the terms of this
          Agreement. Confidential Information does not include information which
          (i) was in the public domain before disclosure, (ii) becomes part of
          the public domain after disclosure by a publication or other means
          except by a breach of this Agreement by the receiving party, (iii) was
          received from a third party under no duty or obligation of
          confidentiality to the disclosing party, or (iv) was independently
          developed by the receiving party without reference to Confidential
          Information.

     (b)  Use of Confidential Information. Each party acknowledges that it and
          its affiliates, and its or their respective employees, agents and/or
          subcontractors, has had prior to the Effective Date, and/or may have
          in performing its obligations and/or exercising rights under this
          Agreement, access to or be directly or indirectly exposed to
          Confidential Information of the other party. Except as may be required
          to: (i) facilitate either party's performance of its obligations
          and/or exercise of its rights under this Agreement; or (ii) comply
          with any applicable law, court order or Exchange Rule, each party
          covenants and agrees that it shall hold confidential all Confidential
          Information of the other party and shall not use or disclose such
          Confidential Information without the express consent of the disclosing
          party. Each party shall take reasonable measures and efforts to
          provide protection for the disclosing party's Confidential
          Information, including measures at least as strict as those the
          receiving party uses to protect its own Confidential Information. A
          party may disclose Confidential Information of the other party only
          with such other party's prior written consent or as otherwise required
          by law, court order or Exchange Rule; provided that in each case the
          parties shall use all reasonable efforts to limit the disclosure and
          maintain confidentiality of such Confidential Information to the
          extent reasonably possible. If a party is served with a court or
          administrative order requiring any disclosure of the other party's
          Confidential Information, or determines that it is obligated to
          disclose the other party's Confidential Information pursuant to an
          Exchange Rule, the party receiving such order or bound by such
          Exchange Rule shall immediately notify

                                       15

<PAGE>

          the other party in writing of such service or determination and fully
          comply with the provisions of Section 8(c) of this Agreement. Upon
          termination or other expiration of this Agreement, all Confidential
          Information disclosed by a party to a receiving party shall be
          returned to the disclosing party or, upon the request of the
          disclosing party, shall be promptly destroyed and certified as
          destroyed by the receiving party; provided, however, that any RI Data
          shall not be returned or destroyed, but shall be maintained in
          accordance with this Agreement. The obligations of the parties under
          this Section 8 shall survive the expiration or termination of this
          Agreement.

     (c)  Notice of Orders Requiring Disclosure of Confidential Information.
          Each party shall immediately notify the other party in writing of any
          subpoena, order (judicial or administrative) or Exchange Rule
          requiring disclosure of Confidential Information obtained from the
          other party. The party whose Confidential Information is sought to be
          disclosed may, at such party's cost, attempt to prevent or limit the
          disclosure by appropriate legal means prior to any such disclosure
          being made. Each party shall cooperate fully with the other party in
          challenging any subpoena, order or Exchange Rule requiring disclosure
          of Confidential Information.

     (d)  Equitable Remedies. The parties acknowledge and agree that irreparable
          harm would result to a party upon any breach of the covenants
          contained in this Section 8 by the other party and that damages
          arising out of such breach may be difficult to ascertain. Therefore,
          the parties agree that, in addition to all other remedies provided at
          law or in equity, the non-breaching party may seek, without bond, from
          a court of law or equity both temporary and permanent injunctive
          relief to prevent a breach of any of such covenants.

9.   INDEMNIFICATION AND REMEDIES

     (a)  Obligation to Indemnify. Each party (the "Indemnifying Party") shall
          hold harmless, indemnify and defend the other party (the "Indemnified
          Party") against all third party claims and shall pay all costs,
          damages and attorneys' fees, arising out of or resulting from (i) any
          breach by the Indemnifying Party of any of its representations,
          warranties, covenants or agreements contained in this Agreement, or
          (ii) any breach by the Indemnifying Party of the Act or other
          Applicable Laws. Each party agrees that the provisions contained in
          this Section 9 shall survive the termination or expiration of this
          Agreement.

     (b)  Indemnification Procedures.

          i.   Promptly after receipt by any Indemnified Party under this
               Section 9 of notice of the commencement or threatened
               commencement of any action, proceeding or other claim by a third
               party involving a claim in respect of which the Indemnified Party
               will seek indemnification, the Indemnified Party shall notify the
               Indemnifying Party of such claim in writing and

                                       16

<PAGE>

               provide to the Indemnifying Party all reasonably available
               information requested. Subject to the provisions of Section
               9(c)(iv), no failure to so notify an Indemnifying Party shall
               relieve it of its obligations under this Agreement except to the
               extent that it can demonstrate damages attributable to such
               failure. Within thirty (30) days following receipt of notice and
               such reasonably available information from the Indemnified Party
               relating to any claim, but no later than ten (10) days before the
               date on which any response to a complaint or summons is due (the
               applicable period referred to herein as the "Notice Period"), the
               Indemnifying Party shall notify the Indemnified Party in writing
               if the Indemnifying Party assumes full responsibility to
               indemnify, defend and hold harmless the Indemnified Party and
               elects to assume control of the defense and settlement of that
               claim (a "Notice of Election"). During the Notice Period, the
               Indemnified Party shall use commercially reasonable efforts to
               extend the date on which a response to the claim is due until the
               Indemnifying Party has provided its Notice of Election. The
               Indemnifying Party shall be responsible for all costs and
               expenses related to such claim (including reasonable legal fees
               and disbursements and reasonable out-of-pocket costs of
               investigation and litigation) incurred by the Indemnified Party
               ("Costs and Expenses") during the Notice Period if the
               Indemnifying Party is obligated to indemnify the Indemnified
               Party.

          ii.  If the Indemnifying Party delivers a Notice of Election relating
               to any claim within the required Notice Period, the Indemnifying
               Party shall be entitled to have sole control over the defense and
               settlement of such claim; provided, however, that (i) the
               Indemnified Party shall be entitled to participate in the defense
               of such claim and to employ counsel at its own expense to assist
               in the handling of such claim, and (ii) the Indemnifying Party
               shall obtain the prior written approval of the Indemnified Party
               before entering into any settlement of such claim or ceasing to
               defend against such claim. The Indemnified Party shall not
               unreasonably withhold its consent to any such settlement,
               provided that it shall be deemed reasonable to withhold consent
               if the settlement would cause harm to the reputation of the
               Indemnified Party. After the Indemnifying Party has delivered a
               Notice of Election relating to any claim in accordance with the
               preceding paragraph, the Indemnifying Party shall not be liable
               to the Indemnified Party for any legal expenses incurred by such
               Indemnified Party in connection with the defense of that claim.
               In addition, the Indemnifying Party shall not be required to
               indemnify the Indemnified Party for any amount paid or payable by
               such Indemnified Party in the settlement of any claim for which
               the Indemnifying Party has delivered a timely Notice of Election
               if such amount was agreed to without the written consent of the
               Indemnifying Party.

          iii. If the Indemnifying Party does not deliver a Notice of Election
               relating to any claim within the Notice Period, or otherwise
               fails to acknowledge its

                                       17

<PAGE>

               indemnification obligations, the Indemnified Party shall have the
               right to defend the claim in such manner as it may deem
               appropriate, at the cost and expense of the Indemnifying Party.
               The Indemnifying Party shall promptly reimburse the Indemnified
               Party for all Costs and Expenses related to such claim. If no
               Notice of Election is delivered, the Indemnified Party may settle
               any such claim without the consent of the Indemnifying Party,
               except that the Indemnified Party must use reasonable commercial
               efforts to reduce the amount of any such settlement. If it is
               determined that the Indemnifying Party failed to defend a claim
               for which it was liable, the Indemnifying Party shall not be
               entitled to challenge the amount of any settlement or compromise
               paid by the Indemnified Party.

     (c)  Liability Limitations.

          i.   In no event shall Provider have any liability, whether based on
               contract, tort (including, without limitation, negligence),
               warranty or any other legal or equitable grounds, for any
               punitive, special, or exemplary loss or damage suffered by
               NDCHealth arising from or related to this Agreement even if
               Provider is advised of the possibility of such losses or damages,
               provided that these limitations shall not apply to consequential
               damages or lost profits. Notwithstanding anything in this
               Agreement to the contrary, in no event (1) shall Provider's
               aggregate liability with respect to a single event or
               circumstance giving rise to a claim for damages by NDCHealth
               exceed $100,000 and (2) shall Provider's aggregate liability
               pursuant to this Section 9 exceed $2,000,000.

          ii.  Without limiting NDCHealth's rights more specifically set forth
               in Section 9(a) above, Provider acknowledges that any breach of
               this Agreement by Provider will cause NDCHealth irreparable harm
               the nature of which cannot be measured or remedied by monetary
               damages alone and, accordingly, in the event of any breach of
               this Agreement by Provider, NDCHealth shall be entitled to seek
               equitable relief including, without limitation, specific
               performance and injunctive relief.

          iii. Without limiting Provider's rights more specifically set forth in
               Section 9(a) above, NDCHealth acknowledges that any breach of
               this Agreement by NDCHealth will cause Provider irreparable harm
               the nature of which cannot be measured or remedied by monetary
               damages alone and, accordingly, in the event of any breach of
               this Agreement by NDCHealth, Provider shall be entitled to seek
               equitable relief including, without limitation, specific
               performance and injunctive relief.

          iv.  Notwithstanding anything contained herein, in no event shall the
               Indemnifying Party be liable for indemnification pursuant to this
               Section 9 if the Indemnified Party fails to provide notice to the
               Indemnifying Party pursuant to Section 9(b)(i) within two (2)
               years after the Indemnified Party

                                       18

<PAGE>

               obtains knowledge of the event, act, fact or circumstances giving
               rise to such claim.

10.  DISPUTE RESOLUTION

     All disputes arising under this Agreement that the parties' designated
     representatives cannot first resolve by negotiating in good faith shall be
     resolved by arbitration in accordance with the Commercial Arbitration Rules
     (collectively, the "AAA Rules") of the American Arbitration Association.
     Arbitration shall be by a panel of three arbitrators experienced in the
     matters at issue and selected jointly by Provider and NDCHealth in
     accordance with the AAA Rules. The arbitration shall be held in such place
     in Charlotte, North Carolina as may be specified by the arbitrators (or any
     place agreed to by Provider, NDCHealth, and the arbitrators). The decision
     of the arbitrators shall be final and binding as to any matters submitted
     under this Agreement and shall not be subject to judicial review. Judgment
     on the arbitration award may be entered and enforced in any court having
     jurisdiction over the parties or their assets. It is the intent of the
     parties that the arbitration provisions hereof be enforced to the fullest
     extent permitted by Applicable Laws. All costs and expenses incurred in
     connection with any such arbitration proceeding (including reasonable
     attorneys' fees) shall be borne by the party against which the decision is
     rendered, or, if no decision is rendered, such costs and expenses
     (including reasonable attorneys' fees) shall be borne by the party
     incurring such costs and expenses. If the arbitrators' decision is a
     compromise, the determination of which party bears the costs and expenses
     incurred in connection with any such arbitration proceeding shall be made
     by the arbitrators on the basis of the arbitrators' assessment of the
     relative merits of the parties' positions. Nothing contained in this
     Section 10 or elsewhere in this Agreement shall prevent or delay a party
     from seeking injunctive relief of any issue for which injunctive relief is
     sought by either party hereto.

11.  NON-SOLICITATION

     For a period of five (5) years after the Effective Date, NDCHealth shall
     not solicit (other than through the use of general employment advertising
     where such solicitation is not targeted at Provider's employees) or hire
     any employees of Provider without the prior written consent of Provider;
     provided, however, that (i) if Provider terminates an employee's employment
     with Provider, with or without cause, the foregoing restrictions shall not
     apply from and after the date of such employee's termination, and (ii) if
     an employee of Provider terminates his or her employment with Provider,
     NDCHealth may solicit and hire the former employee without the consent of
     Provider at any time after twelve (12) months following such employee's
     termination from Provider.

12.  MISCELLANEOUS

     (a)  No waiver, modification or alteration of any of the provisions of this
          Agreement shall be binding unless approved in writing by a duly
          authorized representative of

                                       19

<PAGE>

          the party to be so bound. Notwithstanding any provision of this
          Agreement to the contrary, the parties agree to take such action as is
          necessary to amend this Agreement from time to time as is necessary
          for either party to comply with the requirements of the Act, including
          the Privacy and Security Rules thereof, as amended from time to time,
          and any privacy, security, or other administrative simplification
          regulations promulgated pursuant thereto.

     (b)  This Agreement may not be assigned (by operation of law or otherwise)
          by either party in whole or in part without the prior written consent
          of the other party, which consent shall not be unreasonably withheld,
          conditioned or delayed. Neither the merger of NDCHealth with Royal
          Merger Co., nor the merger of WKHI with Provider, shall be deemed an
          assignment of this Agreement or any right hereunder. Any assignment in
          violation of this Section 12(b) shall be null and void.

     (c)  This Agreement shall be construed in accordance with the laws of the
          State of Delaware, without regard to conflicts of laws provisions.

     (d)  All notices hereunder shall be in writing and shall be conclusively
          deemed to have been received and shall be effective (i) on the day on
          which delivered if delivered personally or transmitted by facsimile
          transmission, (ii) one business day after the date on which the same
          is delivered to a nationally recognized overnight courier service, or
          (iii) three business days after being sent by registered or certified
          United States mail, return receipt requested, and shall be addressed:

          i.   If to Provider, to:

               NDC Health Information Services (Arizona) Inc.
               c/o Wolters Kluwer Health, Inc.
               530 Walnut Street, 7th Floor
               Philadelphia, PA 19106
               Attn: Jeffery A. McCaulley
               Telephone: 215-521-8503
               Facsimile: 215-521-8484

          ii.  If to NDCHealth, to:

               NDCHealth Corporation
               c/o Per-Se Technologies, Inc.
               1145 Sanctuary Parkway, Suite 200
               Alpharetta, Georgia 30004
               Facsimile: (770) 237-4323
               Attn: General Counsel

          Either party may change its address for notices upon written notice to
          the other party.

                                       20

<PAGE>

     (e)  Nothing in this Agreement shall be construed so as to constitute
          Provider and NDCHealth as joint venturers, partners, or agents of each
          other, and neither Provider nor Provider shall have the power to
          obligate or bind the other in any way whatsoever.

     (f)  Neither party shall be deemed in default of this Agreement to the
          extent that performance of its obligations or attempts to cure any
          breach are delayed, restricted, or prevented by reason of any act of
          God or Governmental Body, fire, natural disaster, labor stoppage, the
          failure of necessary power systems or connections, or any other act or
          condition beyond the reasonable control of the parties, provided that
          the party so affected suspends performance only to the extent and for
          the duration that is reasonably required by the force majeure event
          and uses its commercially reasonable efforts to avoid or remove the
          causes of non-performance and continues performance promptly after
          those causes are avoided or removed.

     (g)  Headings and captions throughout this Agreement are inserted only as a
          matter of convenience and for reference and they in no way define,
          limit, or describe the scope of this Agreement or the intent of any
          provision hereof.

     (h)  While the parties have used their best efforts to ensure that this
          Agreement accurately reflects the commitments and undertakings
          required of each in order to ensure an orderly transition of the
          intercompany relationship of the parties without material disruption
          to their respective businesses, they agree to cooperate in good faith
          if after the Effective Date either party believes that it is
          appropriate for the parties to take further actions or provide further
          assurances, as may be reasonably required and agreed upon by the
          parties to implement and give effect to the understandings of the
          parties set forth herein. Without limiting the generality of the
          foregoing, each party shall, at any time and from time to time,
          execute, acknowledge and deliver or cause to be done, executed,
          acknowledged and delivered, all such further documents, assurances or
          things, and secure all necessary consents, as may be reasonably
          required for the more perfect observance and performance by the
          parties of the terms of this Agreement.

     (i)  Time is of the essence with respect the obligations of each of the
          parties to this Agreement.

     (j)  This Agreement may be executed in two or more counterparts, each of
          which shall be deemed an original and all of which together shall
          constitute one and the same document.

     (k)  This Agreement constitutes the entire agreement between the parties
          and supersedes all prior agreements, promises, proposals,
          representations, understandings and negotiations, whether written or
          oral, between the parties respecting the subject matter hereof.

                                       21

<PAGE>

     (l)  This Agreement shall be binding upon, and inure to the benefit of,
          each party's authorized successors and assigns including any
          successors or assigns to such party's business and assets.

     (m)  This Agreement shall not become effective unless and until the Data
          Supply Agreement is duly executed and delivered by the parties.

13.  CERTAIN DEFINITIONS

As used in this Agreement, the following terms shall have the following
meanings:

"AAA Rules" shall have the meaning ascribed to such term in Section 10 of this
Agreement.

"Act" shall mean the Health Insurance Portability and Accountability Act of
1996, as amended, and any regulations issued thereunder.

"Agreement" shall mean this Retail Informatics Data and Services Agreement and
all Exhibits and Schedules hereto.

"Applicable Laws" shall mean all applicable laws (including those arising under
common law), statutes, codes, rules, regulations, reporting or licensing
requirements, ordinances and other pronouncements having the effect of law of
the United States, any foreign country or any domestic or foreign state, county,
city or other political subdivision, including those promulgated, interpreted or
enforced by any Governmental Body.

"Biotechnology Firm" means an entity applying scientific techniques utilizing
living organisms, or substances from such organisms, to manufacture or modify
products for pharmaceutical use or to develop micro-organisms for specific
medical treatments.

"Certification" shall mean any RI Data Certification, Level I Certification,
Level II Certification, Level III Certification or Security Certification.

"Certified Product" shall mean a RI Data Product for which a Level II or Level
III Certification has been issued, and has not been revoked, pursuant to the
Data Security Requirements.

"Change in Control" shall mean any of the following, whether in a single
transaction or a series of related transactions: (a) (i) the merger,
consolidation or other business combination of a party with or into another
Person; (ii) the merger, consolidation or other business combination of another
Person with or into a party; or (iii) the acquisition by any Person of any
equity interests in a party, in each case with the effect that, immediately
after such transaction, the shareholders of such party immediately prior to such
transaction hold none of, or less than a majority in interest of, the total
voting power entitled to vote in the election of directors, managers or trustees
of the Person surviving such transaction or less than fifty percent of the
economic interests in such Person, or (b) the acquisition by any Person or
related group of Persons, by way of merger, sale, transfer, consolidation or
other business combination or acquisition of all or substantially all

                                       22

<PAGE>

of the assets, business or properties of a party. Notwithstanding the foregoing,
neither the merger of NDCHealth with Royal Merger Co., nor the merger of WKHI
with Provider, shall be deemed to be a "Change in Control" hereunder.

"Confidential Information" shall have the meaning ascribed to such term in
Section 8(a) of this Agreement.

"Costs and Expenses" shall have the meaning ascribed to such term in Section
9(b)(i) of this Agreement.

"Data Alteration Event" shall have the meaning ascribed to such term in Section
1(c)(ii) of this Agreement.

"Data Fees" shall mean the amounts set forth in Exhibit C attached hereto,
subject to the terms and limitations set forth in Exhibit C.

"Data Security Requirements" shall mean the procedures, certifications and
methods for processing, handling, storing and disclosing PHI Data Sets and RI
Data set forth in Exhibit B attached hereto.

"Data Supply Agreement" shall have the meaning ascribed to such term in the
Recitals of this Agreement.

"Data Suspension Event" shall have the meaning ascribed to such term in Section
4(b) of this Agreement.

"Effective Date" shall have the meaning ascribed to such term in the Preamble of
this Agreement.

"Encryption Engine" shall have the meaning ascribed to it in the Data Supply
Agreement.

"Exchange Rule" shall mean any rules of any exchange or other trading
environment in which the securities of a party are publicly traded.

"Governmental Body" means any government or governmental or regulatory body
thereof, or political subdivision thereof, whether federal, state, local or
foreign, or any agency, instrumentality or authority thereof, or any court or
arbitrator (public or private).

"Health Care Provider" shall have the meaning ascribed to such term in the Act.

"IM Business" shall have the meaning ascribed to such term in the Recitals of
this Agreement.

"IM Business Agreements" shall mean agreements between Provider and any other
Person entered into after the Effective Date which provide for the delivery to
Provider of PHI Data Sets; provided that the term IM Business Agreements shall
not include any agreement between

                                       23

<PAGE>

Provider and any other Person if such Person does not allow the use of such
Person's PHI Data Sets for retail pharmacy purposes.

"IM Field" shall mean the provision of IM Products to Pharmaceutical Companies,
Biotechnology Firms, Medical Device Manufacturers and Wall Street investment
analysts.

"IM Prescription Data" shall mean the retail prescription data that Provider
receives pursuant to IM Business Agreements.

"IM Products" shall mean the types of Products set forth on Exhibit D.

"IM Systems" shall mean the platforms and applications owned or otherwise
controlled by Provider, in their current or enhanced states, as set forth in
Exhibit E to this Agreement.

"Indemnified Party" shall have the meaning ascribed to such term in Section 9(a)
of this Agreement.

"Indemnifying Party" shall have the meaning ascribed to such term in Section
9(a) of this Agreement.

"Legacy RI Data" shall mean RI Data to which NDCHealth was afforded access on or
before the Effective Date.

"Legacy Product" shall mean an RI Data Product which contains Legacy RI Data and
which Provider had obtained Level III Certification on or before the Effective
Date, which certification remains valid.

"Level I Certification" shall mean a certification, made in accordance with
Level I of the Data Security Requirements, including all applicable Privacy and
Security Rules, that Purchased Data stored in the RI Data Repository and to
which NDCHealth is afforded access is de-identified in accordance with the Act,
including the Privacy and Security Rules.

"Level II Certification" in respect of any RI Data Product, shall mean a
certification, made in accordance with Level II of the Data Security
Requirements, including all applicable Privacy and Security Rules, that applying
generally accepted statistical and scientific methods for rendering information
not individually identifiable, the risk is Very Small that the RI Data included
in the RI Data Product could be used, alone or in combination with other
reasonably available information, by an anticipated recipient to identify an
individual who is a subject of the information.

"Level III Certification" in respect of any RI Data Product, shall mean a
certification, made in accordance with Level III of the Data Security
Requirements, including all applicable Privacy and Security Rules, that applying
generally accepted statistical and scientific methods for rendering information
not individually identifiable, the risk is Very Small that the RI Data included
in the RI Data Product could be used, alone or in combination with other
reasonably

                                       24

<PAGE>

available information, by an anticipated recipient to identify an individual who
is a subject of the information.

"Merger" shall have the meaning ascribed to such term in the Recitals of this
Agreement.

"NDC Data" shall mean the independent pharmacy data licensed from and supplied
by NDCHealth to Provider pursuant to the Data Supply Agreement.

"NDC Field" shall mean the (A) provision of network services to the Retail
Pharmacy Industry, Health Care Providers, non-governmental third party payers
and consumers and (B) provision or delivery of the types of products listed in:

     (i)  the Network Services Category, Provider Applications Category, and
          Financial Services Transaction Processing Category set forth on
          Exhibit F to the Retail Pharmacy Industry, Health Care Providers,
          non-governmental third party payers and consumers;

     (ii) the Patient Safety and Compliance Category and Other Messaging, Fraud
          and Abuse Category, Key Account Agreements, Wall Street and Private
          Equity Firms set forth on Exhibit F to Health Care Providers,
          non-governmental third party payers and consumers.

     (iii) the Information Management Category set forth on Exhibit F to the
          Retail Pharmacy Industry and non-governmental third party payers;

     (iv) the Longitudinal Record Category set forth on Exhibit F to
          non-governmental third party payers and Health Care Providers.

     (v)  the Private Label PBM, Mail Order and Rebate Capture Category set
          forth on Exhibit F to the Retail Pharmacy Industry.

"NDCHealth" shall have the meaning ascribed to such term in Preamble of this
Agreement.

"NDCHealth Certification" shall mean any Security Certification, Level II
Certification or Level III Certification.

"NDC Products" shall mean the types of products set forth on Exhibit F hereto.

"New Services" shall mean services provided by Provider to NDCHealth which
services either (i) were not provided prior to the Effective Date, but are
agreed upon by Provider and NDCHealth during the Term and thereafter provided by
Provider to NDCHealth, or (ii) constitute a modification of services to be
provided by Provider to NDCHealth as of the Effective Date pursuant to Sections
5(a) through 5(d).

"Notice of Election" shall have the meaning ascribed to such term in Section
9(b)(i) of this Agreement.

                                       25

<PAGE>

"Notice Period" shall have the meaning ascribed to such term in Section 9(b)(i)
of this Agreement.

"Patient" shall have meaning ascribed to such term in the Act.

"Patriot" shall have the meaning ascribed to such term in the Recitals of this
Agreement.

"Person" shall mean an individual, corporation, limited liability company,
partnership, trust, association, joint venture, unincorporated organization or
entity of any kind or nature, or a Governmental Body.

"PHI" shall mean protected health information, as that phrase is defined in the
Act.

"PHI Data Set" shall mean an original electronic record of a single transaction
or interaction (including, among other things, reject and reversal transactions,
hospital transaction data and physician claim data) between one Patient and one
Health Care Provider, or between two Health Care Providers, which record,
immediately prior to encryption and delivery to Provider, contains PHI or, if
associated with one or more other PHI Data Sets, could be used to determine PHI.

"Privacy and Security Rules" shall mean the Standards for Privacy of
Individually Identifiable Health Information at 45 C.F.R. part 160 and part 164,
subparts A and E, and the regulations promulgated thereunder; and the Security
Standards at 45 C.F.R. parts 160, 162 and 164, and the regulations promulgated
thereunder, in all cases, as in effect or amended from time to time.

"Prohibited Use" shall mean:

     i.   any offer for sale, sale, license, delivery, distribution or other
          conveyance of any RI Data Product that does not constitute a Certified
          Product at the time of such offer for sale, sale, license, delivery,
          distribution or other conveyance;

     ii.  any use of the Purchased Data (whether alone or in combination with
          any other data) to identify any pharmacy, hospital, payer or
          individual; provided, however, that NDCHealth may use Purchased Data
          to identify to a pharmacy or to a payer data that was provided by such
          pharmacy or payer, respectively;

     iii. any attempt, directly or indirectly, to derive PHI from any RI Data;
          and

     iv.  any offer for sale, sale, license, delivery, distribution, other
          conveyance or use of the Covered Data in a manner that violates this
          Agreement, the Act or any other Applicable Laws.

"Provider" shall have the meaning ascribed to such term in the Preamble of this
Agreement.

"Provider Data Agreements" shall mean agreements between Provider and any other
Person which provides for the delivery to Provider of PHI Data Sets and the
terms of which Provider has determined, in its reasonable discretion, permit
Provider to license to NDCHealth the retail

                                       26

<PAGE>

prescription data provided pursuant to such agreement in the manner contemplated
by this Agreement.

"Provider's Data Center" shall mean the facility owned or otherwise controlled
by or on behalf of Provider and dedicated to receiving and processing RI Data in
connection with the conduct of the IM Business, which facility is, as of the
Effective Date, located at 2394 East Camelback Road, Phoenix, Arizona. Provider
shall notify NDCHealth in writing of any change in the physical location of
Provider's Data Center.

"Purchased Data" shall mean data that is obtained by Provider pursuant to
Provider Data Agreements.

"Purchaser" shall have the meaning ascribed to such term in the Recitals of this
Agreement.

"Qualified Statistician" shall mean a person with appropriate knowledge of and
experience with generally accepted statistical and scientific methods for
rendering information not individually identifiable.

"Retail Informatics Products" shall mean informatics products intended for use
in the Retail Pharmacy Industry or by any Health Care Provider, non-governmental
third party payer or consumer.

"Retail Pharmacy Industry" shall mean the business of owning or operating
establishments or operations where prescriptions are filled for consumers,
including without limitation, pharmacies, general merchandise stores, hospitals,
long-term care facilities, mail order and specialty operations and future
locations where prescription fulfillment and drug sales to consumers occur.

"Retail Prescription Data" shall mean the universe of all PHI Data Sets
generated in the Retail Pharmacy Industry.

"RI Data" shall mean pharmacy transaction data consisting of NDC Data and
Purchased Data that has been cleansed, aggregated, de-identified and presented
in a format more fully described and set forth in the Service Level Commitments.

"RI Data Access Protocol" shall mean the remote access to RI Data stored on the
RI Database Repository in accordance with the Service Level Commitments.

"RI Data Category" shall mean a particular type of RI Data sharing one or more
common attributes such as the identity of the entity from whom the RI Data is
received, a particular discrete item of PHI (e.g., date of birth) or other
identifiable characteristic.

"RI Data Certification" shall mean an annual written certification from a
Qualified Statistician that, provided the RI Data is used in accordance with the
terms and conditions of this Agreement, the risk is Very Small that the RI Data
could be used, alone or in combination with other reasonably available
information, by an anticipated recipient to identify an individual who is a
subject of the information.

                                       27

<PAGE>

"RI Data Product" shall mean any data, report, study, analysis, service or
product that includes, is based upon or derived from (whether alone or in
combination with any other data) any portion of the RI Data or any Legacy RI
Data.

"RI Data Repository" shall mean the databases, hosted on servers owned and
maintained by Provider or a third party on behalf of Provider, populated by
Provider with RI Data and Purchased Data pursuant to the terms of this
Agreement.

"Sale Transaction" shall have the meaning ascribed to such term in the Recitals
of this Agreement.

"Security Certification" shall mean a certification, made in accordance with the
Data Security Requirements, that all access, extraction, compilation,
assimilation, manipulation, analysis and other processing of the RI Data by the
party making such Certification, or by any Person acting on behalf of or at the
direction of, such party, is being conducted in compliance with the Act,
including the Privacy and Security Rules.

"Select Client Databases" shall mean those databases located, as of the
Effective Date, in Provider's Data Center, that both (i) will be relocated to
NDCHealth's facilities and (ii) pursuant to the terms of the Transition Services
Agreement, receive, as of the Effective Date, direct feeds of RI Data purchased
by Provider pursuant to data supply agreements between Provider and retail
pharmacies, which RI Data is used in connection with NDCHealth's "Retail
Insight" products.

"Service Level Commitments" shall mean the technical, qualitative, quantitative
and other standards and commitments, consistent with the standards and
commitments on the date hereof, examples of which are set forth and including
those set forth on Exhibit A attached hereto.

"Term" shall have the meaning ascribed to such term in Section 7(a) of this
Agreement.

"Very Small" shall have the meaning given it by the National Institute of
Standards and Technology, or such other standard as may be required from
time-to-time by the Act.

                            [Signatures on next page]

                                       28

<PAGE>

                                 SIGNATURE PAGE
                                       TO
                             RETAIL INFORMATICS DATA
                             AND SERVICES AGREEMENT

     IN WITNESS WHEREOF, the parties hereto, each acting under due and proper
authority, have executed and delivered this Agreement as of the Effective Date.

Joinder for Purposes of Section 11. By execution below Per-Se Technologies, Inc.
does hereby agree that it and its Affiliates are, and shall be bound by the
provisions of Section 11 hereof and shall be liable to Provider and WKHI for any
breach of section 11 by Per-Se Technologies, Inc., NDCHealth or any of their
respective Affiliates

                                        NDCHEALTH:

                                        NDCHealth Corporation

                                        By: /s/ Randolph L.M. Hutto
                                            ------------------------------------
                                        Name: Randolph L.M. Hutto
                                        Title: EVP

PER-SE TECHNOLOGIES, INC.:              PROVIDER:

                                        NDC Health Information Services
By: /s/ Philip M. Pead                  (Arizona) Inc.
    ---------------------------------
Name: Philip M. Pead
Title: President                        By: /s/ Randolph L.M. Hutto
                                            ------------------------------------
                                        Name: Randolph L.M. Hutto
                                        Title: EVP<PAGE>
                                                                    EXHIBIT 10.1

                   SECOND AMENDMENT TO CONTRIBUTION AGREEMENT

     This Second Amendment to Contribution Agreement ("Amendment") is made and
entered into as of the 6th day of January, 2006, by and between PLACE
PROPERTIES, L.P. and PLACE MEZZ BORROWER, LLC (collectively, "Transferor") and
EDUCATION REALTY OPERATING PARTNERSHIP, LP ("Transferee").

                                   WITNESSETH:

     WHEREAS, Transferee and Transferor entered into that certain Contribution
Agreement dated September 14, 2005 ("the Agreement") pursuant to which the
parties set forth their agreement with respect to the contribution of the
membership interests (as defined in the Agreement), which Agreement was amended
by First Amendment to Contribution Agreement dated December 28, 2005;

     WHEREAS, the parties hereto desire to further amend and modify the
Agreement in certain particulars as more particularly set forth below.

     NOW, THEREFORE, for and in consideration of $10.00 in hand paid by the
parties hereto and other good and valuable consideration, the receipt, adequacy
and sufficiency of which are hereby acknowledged, Transferee and Transferor do
hereby agree as follows:

     1. All capitalized terms not otherwise defined in this Amendment shall have
the meaning given to such terms in the Agreement.

     2. The Agreement is hereby modified as follows:

          (a)  Paragraph 3.1 of the Agreement is hereby amended by substituting
               Exhibit B and Addendum to Exhibit B, attached hereto, in place of
               Exhibit B previously attached to the Agreement.

          (b)  Paragraph 3.2.1 is hereby amended to read: "Transferee shall
               receive a credit at Closing in an amount equal to the unpaid
               principal balance of the Assumed Loan, the Mezzanine Loan and the
               Mini-Perm Loan as of the date of Closing";

          (c)  Paragraph 3.3.2 of the Agreement is hereby amended by inserting
               in the first line thereof the phrase "Mezzanine Loan and the"
               immediately before the reference to "Assumed Loan";

          (d)  Paragraph 5.2 of the Agreement is hereby amended by deleting the
               second and third sentences thereof and inserting the following in
               lieu thereof: "Except as otherwise set forth herein, all items to
               be prorated pursuant to this Section 5.2 shall be prorated as of
               midnight on December 31, 2005. Insofar as the Master Tenant will
               be responsible for all taxes, insurance, and operating expenses,
               and entitled to receive all rents under the Leases, from and
               after January 1, 2006 pursuant to the terms of the Master Lease,
               all prorations of such items shall be between the Transferors and
               the Master Tenant unless otherwise expressly provided herein,
               with the Master Tenant to be treated as the owner of the
               Properties, for purposes of computing prorations of income and
               operating expenses, on and after January 1, 2006.";

<PAGE>

          (e)  Paragraph 5.4 of the Agreement is hereby amended by deleting the
               first sentence thereof and inserting the following in lieu
               thereof: "Interest and other periodic charges payable under the
               Assumed Loan, the Mezzanine Loan, the Mini-Perm Loan and the
               Defeased Loans shall be prorated as of midnight, December 31,
               2005.";

          (f)  Paragraph 7.4 of the Agreement is hereby amended to add the
               following text to the end thereof: "Notwithstanding any of the
               foregoing to the contrary the parties agree that (i) it shall be
               Transferee's obligation to pay in full at Closing the Mezzanine
               Loan and the Mini-Perm Loan, subject to the obligations of
               Transferor under Paragraph 5.5 of the Agreement and Section 4 of
               this Amendment; and (ii) it shall be Transferor's obligation to
               defease the Defeased Loans at Closing provided that (x)
               Transferee shall pay to the Defeased Lenders an amount equal to
               the cost of the investment securities required to defease the
               Defeased Loans in excess of the outstanding principal balance of
               the Defeased Loans on the Closing Date and Transferee shall pay
               all other costs and expenses of consummating the defeasance of
               the Defeased Loans other than Transferor's legal fees and
               expenses, and (y) Transferors shall pay to the Defeased Lenders
               an amount equal to the outstanding principal balance of the
               Defeased Loan for contribution to the purchase of the investment
               securities required to effectuate such defeasance."

          (g)  Paragraph 8.1.14(v) of the Agreement is hereby amended by
               deleting the text thereof and inserting the following in lieu
               thereof: "Each of the Assumed Loan and the Mezzanine Loan is a
               "qualified liability" within the meaning of Section 1.707-5(a)(6)
               of the Treasury Regulations.";

          (h)  Paragraph 8.1.14 of the Agreement is hereby amended by adding the
               following text as subparagraph (vi) thereof: "All of the repairs
               described in the Property Condition Assessment prepared by ATC
               Associates Inc. for the Assumption Lender for River Place and
               Clemson Place have been completed and all costs thereof have been
               paid in full.";

          (i)  Paragraph 10.17 of the Agreement is hereby amended to provide
               that the effective date of the Master Lease shall be January 1,
               2006; and

          (j)  Paragraph 11.1 of the Agreement is hereby amended by adding the
               following text as subparagraph 11.1.3 thereof:

               "11.1.3 PREPAYMENT OF MEZZANINE LOAN AND MINI-PERM LOAN. On the
               Closing Date, Transferee will consummate the prepayment of the
               Mezzanine Loan and the Mini-Perm Loan in accordance with the
               terms of this Agreement.".

          (k)  Paragraph 11.2 of the Agreement is hereby amended by adding the
               following text as subparagraph 11.2.10 thereof:

               "11.2.10 DEFEASANCE OF DEFEASED LOANS. On the Closing Date,
               Transferors have consummated the defeasance of the Defeased Loans
               in accordance with the terms of this Agreement."

     3. Section 11.2.5 of the Contribution Agreement, provides that as a
condition of Transferee's obligation to close the subject transactions,
Transferee shall have received from Transferee's independent

                                        2

<PAGE>

auditors prior to Closing the audited financial statements with respect to the
Properties acquired that shall (i) comply as to form in all material respects
with applicable accounting requirements and the published rules and regulations
of the SEC with respect thereto (including, without limitation, Rule 3-14 of
Regulation S-X) (collectively, the "SEC RULES"), (ii) have been prepared in
accordance with generally accepted accounting principles in the United States
("GAAP") applied on a consistent basis during the periods and at the dates
involved (except as may be indicated in the notes thereto which exceptions shall
be customary and shall in no way limit the requirement that the financial
statements comply with the rules and regulations of the SEC), and (iii) fairly
present the consolidated financial condition of the Properties and the Property
Owners at the dates thereof and the consolidated results of operations and cash
flows of the Properties, and the Property Owners for the periods presented (such
audited financial statements described in this sentence are referred to as the
"Audited Financial Statements"). The parties acknowledge that Transferee has not
received from its independent auditors the Audited Financial Statements and that
Transferee, Transferee's independent auditors and/or the REIT need to obtain
additional information and cooperation from Transferors in order to complete the
Audited Financial Statements. Transferee hereby agrees to close the transactions
contemplated by the Contribution Agreement notwithstanding the failure to
satisfy the condition of Section 11.2.5 with respect to the receipt of the
Audited Financial Statements prior to Closing in reliance upon Transferors'
agreements set forth below.

          In order to induce Transferee to close the transactions contemplated
by the Contribution Agreement, Transferors acknowledge and agree as follows:

          (i) Transferors understand that the REIT is subject to the reporting
requirements of the Securities Exchange Act of 1934, as amended, which will
require, among other things, that the REIT file with the SEC the Audited
Financial Statements;

          (ii) Transferors understand that if the REIT is not able to file in a
timely manner, or at all, the Audited Financial Statements the REIT will suffer
adverse effects, significant damages and potential liability;

          (iii) Transferors understand that the REIT has an obligation to file a
registration statement to register shares of common stock held by certain of its
stockholders pursuant to a Registration Rights Agreement dated as of September
22, 2005 (the "Registration Rights Agreement"), by and among the REIT and the
investors named on the signature pages to the Registration Rights Agreement,
including an obligation that the REIT file a Shelf Registration Statement (as
defined in the Registration Rights Agreement) no later than February 1, 2006 and
that such Shelf Registration Statement be declared effective no later than March
29, 2006 (the "Registration Deadline");

          (iv) Transferors understand that if the Shelf Registration Statement
is not declared effective by the Registration Deadline, the REIT will be
required to pay significant liquidated damages to the holders of Registrable
Securities (as defined in the Registration Rights Agreement) and that the REIT's
ability to have the Shelf Registration Statement declared effective by the
Registration Deadline is dependent upon its ability to file the Shelf
Registration Statement as soon as possible but in any event by January 31, 2006;

          (v) Transferors understand that, in order to meet the Registration
Deadline, the REIT intends to file the Shelf Registration Statement on or about
January 25, 2006 or as soon as practicable thereafter but in any event no later
than January 31, 2006, and that the REIT intends to file the Audited Financial
Statements prior to, and as a condition of, the filing of the Shelf Registration
Statement;

          (vi) Each Transferor agrees to cooperate fully and at its own expense
with Transferee, the REIT and Transferee's independent auditors in connection
with the preparation of the Audited Financial

                                        3

<PAGE>

Statements, including without limitation providing such information as is
requested in a timely manner by Transferee, the REIT or Transferee's independent
auditors in connection therewith and which is required under the SEC Rules or
GAAP;

          (vii) Transferors shall provide all of such requested information
required under the SEC Rules or GAAP promptly upon request and otherwise
cooperate in a timely manner such that the REIT will be able to file the Audited
Financial Statements on or before January 25, 2006;

          (viii) Each Transferor, jointly with the other Transferor, warrants
that it has sufficient financial information on the Properties and the Property
Owners which are necessary under the SEC Rules or GAAP to complete the Audited
Financial Statements;

          (ix) Without limiting the generality of the foregoing, Transferors and
their executive officers shall execute such representation letters as may
reasonably be required by such independent auditor in order to enable such firm
to deliver its audit report on such financial statements and to consent to the
filing of such report and financial statements with the SEC;

          (x) Transferors, jointly and severally, shall and do hereby agree to
indemnify, defend and hold the Transferee and the REIT harmless from and against
any and all claims, demands, suits, obligations, payments, damages (including
without limitation damages under the Registration Rights Agreement), losses,
penalties, liabilities, costs and expenses (including but not limited to
attorneys' fees) arising out of the REIT's failure to file the Audited Financial
Statements with the SEC on or before January 25, 2006, only to the extent such
failure is caused by the action or inaction of either Transferor or its or their
agents or by the failure of either or both Transferors to timely provide
requested information required under the SEC Rules or GAAP to complete the
Audited Financial Statements or by either Transferor's or Transferor's agents'
delays in providing such information.

          (xi) At Closing, Transferors shall deposit in escrow with Morris,
Manning & Martin pursuant to an escrow agreement in the form attached hereto as
Exhibit "I" the sum of $250,000.00 to secure the performance of Transferor's
obligations under Section 3 of this Amendment.

     The terms and provisions of this Section 3 shall survive the Closing.
Transferors acknowledge and agree that the REIT is an intended third party
beneficiary of this Section 3.

     4. Transferor hereby agrees to indemnify, defend and hold harmless
Transferee from any and all loss, liability, damages, costs or expenses arising
from Transferee's acquisition of the Membership Interests subject to the
Mezzanine Loan and the Mini-Perm Loan and the prepayment thereof including
without limitation any additional fees, prepayment premiums, interest, default
interest or other charges imposed by the Mezzanine Lender or the Mini-Perm
Lender as a result thereof (except for the one-half point fee on the Mezzanine
Loan to be paid by Transferee pursuant to Paragraph 5.5 of the Agreement. This
indemnity shall survive the Closing.

     5. This Amendment may be executed in any number of counterparts, each of
which shall be deemed to be an original as against any party whose signatures
appear thereon and all of such counterparts shall together constitute one and
the same instrument. This amendment shall be binding when one or more
counterparts thereof, individually or taken together, shall bear the signatures
of all parties reflected hereon as the signatories. This Amendment may be
executed and delivered by fax; any original signatures that are initially
delivered by fax shall be physically delivered with reasonable promptness
thereafter.

                                        4

<PAGE>

     6. Except as expressly set forth herein, the Agreement, as amended by the
First Amendment, remains unmodified and unchanged and the parties hereto ratify
and confirm the Agreement as amended hereby.

                                        TRANSFERORS:

                                        PLACE PROPERTIES, L.P., a Tennessee
                                        limited partnership

                                        By: Place Collegiate Properties Co., a
                                            Tennessee corporation, its general
                                            partner

                                        By: /s/ Cecil M. Phillips
                                            ------------------------------------
                                            Cecil M. Phillips, President

                                        PLACE MEZZ BORROWER, LLC, a Delaware
                                        limited liability company

                                        By: /s/ Cecil M. Phillips
                                            ------------------------------------
                                        Name: Cecil M. Phillips
                                              ----------------------------------
                                        Title: Manager
                                               ---------------------------------

                                        TRANSFEREE:

                                        EDUCATION REALTY OPERATING PARTNERSHIP,
                                        LP, a Delaware limited partnership

                                        By: Education Realty OP GP, Inc., its
                                            General Partner

                                        By: /s/ Paul O. Bower
                                            ------------------------------------
                                        Name: Paul O. Bower
                                              ----------------------------------
                                        Title: President
                                               ---------------------------------

                                        5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}]]